Rental Cap Rates: Upstate South Carolina

Rental Cap Rates: Upstate South Carolina

Realtor · Greenville, SC · Member since 2019 · 4 posts · 0 votes

Happy Friday! We are looking into assigning several off-market multi-family properties in the Greenville/Spartanburg South Carolina area: duplex-triplex and based off our numbers, we are looking around an 8-9 cap rate at current purchase price for the end-buyer. I am wanting to see who is actively purchasing buy/hold properties at that rate? If so, that really helps us know where our numbers need to be on these properties!

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  • Investor · Spartanburg, SC · Member since 2014 · 5 posts · 0 votes
    7y

    Best I've bought so far was around 8.5% on the market, so I'd definitely be interested in properties in this range

  • Realtor · Greenville, SC · Member since 2019 · 4 posts · 0 votes
    7y

    For example: if we have a duplex that rents for $1200/mo, about what would you pay for it if it’s in good shape?

  • Investor · Spartanburg, SC · Member since 2014 · 5 posts · 0 votes
    7y

    It would depend, but like I said, between 8-9 cap is great as far as what I've been paying.  Others might disagree.  So between 70-100k depending.

    I have seen them for sale for much more than that, so maybe some are buying at a lower cap.

  • Realtor · Greenville, SC · Member since 2019 · 4 posts · 0 votes
    7y

    Gotcha! Sent you a message about connecting on a few properties!

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