Duplex with Refreshed Vacant
For Sale
$119,900
802 Kings Ct, Greenwood, SC 29646
Residential Income, Greenwood, SC
Property Size1,820 SF
Price / SF$65.88
Days on Market147
Property Features for 802 Kings Ct
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2
Subdivision
NOT IN SUBDIVIS
Standard status
Active
Size
1,820 SF
Taxes and HOA fees
Tax Annual Amount
2117
Utilities
Utilities
Natural Gas Available
Cooling system
Window Unit(s)
Building Details
Year built
1982
Floors in Building
1
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Greenwood Realty Inc.
(864) 388-0202
Listed By:
Fallon Harrison · License #116627
(864) 980-2128
Added: Apr 5
Changed: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 139542
Copyright © 2026 Greenwood Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2-unit duplex contains 1,820 square feet, with each unit arranged as 2 bedrooms and 1 full bath. Both sides feature open living areas, while the vacant unit has new bedroom carpet and luxury vinyl flooring across the main living spaces. Vinyl siding and window unit cooling serve the building, and natural gas is available.
One unit currently has a tenant, and the second is vacant for a new resident or lease-up. Built in 1982, the property is within Greenwood city limits and provides access to the city’s services and amenities.
One unit currently has a tenant, and the second is vacant for a new resident or lease-up. Built in 1982, the property is within Greenwood city limits and provides access to the city’s services and amenities.
Key Highlights
- 2‑unit duplex totaling 1,820 square feet
- Each unit includes 2 bedrooms and 1 full bath
- One unit is tenant‑occupied; the second unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,979
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,580
$179.6K
Cap Rate 7%
$128,271
$128.3K
Cap Rate 9%
$99,767
$99.8K
Market Conditions
NOI Build-Up for 1,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.6K $10.20/SF
− Vacancy
−$5.7K −$3.15/SF
EGI
$12.8K $7.05/SF
− OpEx
−$3.8K −$2.11/SF
NOI
$9.0K $4.93/SF
Area
Greenwood County, SC
Vacancy
30.90%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$179,580
Cap Rate 7%
$128,271
Cap Rate 9%
$99,767
Alternative Uses
Best Use
Multifamily LT 5
$128.3K
$112.2K – $149.7K
NOI $8,979 @ 7.0% cap · market cap 7.49%
Second Best
Apartment 5plus
$89.2K
$78.1K – $104.1K
NOI $6,245 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$571.7K
$500.3K – $667.0K
NOI $40,021 @ 7.0% cap · market cap 33.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 29646, SC
26,783
Population
12,316
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
84%
High-School Grad
101.4 sq mi
ZIP Area
264
Density / Sq Mi
$41,669
Median Household Income
$37,556
Median Earnings
$818
Median Rent
$130,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - One unit is tenant-occupied while the other offers updated flooring for rental or owner occupancy.
Where is this duplex located?
The property is located at 802 Kings Ct Greenwood, SC.
What is the asking price?
The asking price for this property is $119,900.
What are key features of this property?
This property features: 2‑unit duplex totaling 1,820 square feet; Each unit includes 2 bedrooms and 1 full bath; One unit is tenant‑occupied; the second unit is vacant
