Charleston Duplex in Prime
For Sale
$850,000
81 Simons Street, Charleston, SC 29403
Fully leased duplex near Hampton Park and The Citadel.
Property Size2,416 SF
Price / SF$351.82
Days on Market221
Property Features for 81 Simons Street
General Information
Standard status
Active
Size
2,416 SF
Property subtype
Multi-Family
Amenities
Asphalt
Building Details
Building Size
2,416 SF
Year Built
1940
Listing Agency:
Carolina One Real Estate
(843) 779-8660
Listed By:
Katie Frederick
(843) 779-8660
Source:
Kw
Added: Jan 23
Changed: Aug 31
Last Checked: Aug 31 at 1:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carolina One Real Estate
Investment Insights
Based on property information with market context.
This fully leased duplex is located in the desirable North Central neighborhood of Charleston Peninsula, offering immediate cash flow and long-term stability. Each unit features 3 bedrooms, providing consistent rental demand. The property is located under a mile from Hampton Park and The Citadel, and benefits from proximity to popular dining, arts, and lifestyle destinations including cafes, restaurants and King Street shopping. The property size is 2416 square feet. This multifamily property is an ideal asset for investors seeking a dependable, well-located property.
Key Highlights
- Fully leased duplex provides immediate cash flow and long‑term investment stability.
- Prime Charleston Peninsula location in the desirable North Central neighborhood.
- Each unit features 3 bedrooms, ensuring strong and consistent rental demand.
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
$31,644
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
3.72%
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%
$632,880
$632.9K
Cap Rate 7%
$452,057
$452.1K
Cap Rate 9%
$351,600
$351.6K
Market Conditions
NOI Build-Up for 2,416 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
$47.8K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$45.2K $18.71/SF
− OpEx
−$13.6K −$5.61/SF
NOI
$31.6K $13.10/SF
Area
Charleston, SC
Vacancy
5.50%
Lease Rate
$19.80 /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%
$632,880
Cap Rate 7%
$452,057
Cap Rate 9%
$351,600
Alternative Uses
Best Use
Multifamily LT 5
$452.1K
$395.6K – $527.4K
NOI $31,644 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$418.9K
$366.6K – $488.8K
NOI $29,326 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$653.8K
$572.1K – $762.8K
NOI $45,767 @ 7.0% cap · market cap 5.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 29403, SC
21,363
Population
13,013
Households
1.6
Avg Household Size
30
Median Age
57%
College-Educated
92%
High-School Grad
5.4 sq mi
ZIP Area
3,956
Density / Sq Mi
$65,689
Median Household Income
$43,421
Median Earnings
$1,658
Median Rent
$624,000
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 - Fully leased duplex near Hampton Park and The Citadel.
Where is this duplex located?
The property is located at 81 Simons Street Charleston, SC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Fully leased duplex provides immediate cash flow and long‑term investment stability.; Prime Charleston Peninsula location in the desirable North Central neighborhood.; Each unit features 3 bedrooms, ensuring strong and consistent rental demand.
