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Private real estate advisory website foundation.

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Deal of the week
5 min read

Deal of the Week: 1300 Laurens Rd

This is not a simple rent-and-hold deal. The story is the rear land, the MX-2 flexibility, and the chance to pair a front commercial use with a rear residential triplex.

Matthew Farrahar

GVLResolve advisor with eXp Realty

Deal of the week
5 min read

Deal of the Week: 1300 Laurens Rd

This is not a simple rent-and-hold deal. The story is the rear land, the MX-2 flexibility, and the chance to pair a front commercial use with a rear residential triplex.

Matthew Farrahar

GVLResolve advisor with eXp Realty

The deal only gets interesting when you stop looking at it as one small building and start looking at it as a location, a rear-land play, and a flexible income plan.

This is the kind of property that looks easy to dismiss from the road.

A small building on Laurens Road. Traffic. An odd rear section. A project that will take more patience than a clean rental purchase.

But that is also why it is worth studying.

The investor story here is not, “Buy it, collect rent, and call it a day.” The better version is this: an investor buys a well-located infill property, uses the existing building as the first income anchor, figures out the highest and best use for the rear land, and turns a single purchase into a more flexible asset with multiple exit paths.

That does not make it safe. It makes it worth underwriting.

It is on market, so here is the listing.

The deal only gets interesting when you stop looking at it as one small building and start looking at it as a location, a rear-land play, and a flexible income plan.

This is the kind of property that looks easy to dismiss from the road.

A small building on Laurens Road. Traffic. An odd rear section. A project that will take more patience than a clean rental purchase.

But that is also why it is worth studying.

The investor story here is not, “Buy it, collect rent, and call it a day.” The better version is this: an investor buys a well-located infill property, uses the existing building as the first income anchor, figures out the highest and best use for the rear land, and turns a single purchase into a more flexible asset with multiple exit paths.

That does not make it safe. It makes it worth underwriting.

It is on market, so here is the listing.

Option A
Section 8 or affordable housing

Lower-friction rear triplex strategy with voucher-backed rent assumptions.

Pros

  • + Permitting fees may be waived if the project qualifies.
  • + Parking requirements may be reduced.
  • + $1.45M city grant pool is relevant to the research.
  • + Government-backed income can reduce collection friction.

Cons

  • - Deed restrictions and inspections can apply.
  • - Program eligibility is not automatic.
  • - Returns depend on actual voucher approvals and unit design.
Option B
STVR compound

Higher-ceiling compound strategy with more licensing, courtyard, and circulation risk.

Pros

  • + Higher revenue ceiling.
  • + Near the airport.
  • + Developing corridor.
  • + Better fit for contractor, relocation, medical, or extended-stay demand.

Cons

Option A
Section 8 or affordable housing

Lower-friction rear triplex strategy with voucher-backed rent assumptions.

Pros

  • + Permitting fees may be waived if the project qualifies.
  • + Parking requirements may be reduced.
  • + $1.45M city grant pool is relevant to the research.
  • + Government-backed income can reduce collection friction.

Cons

  • - Deed restrictions and inspections can apply.
  • - Program eligibility is not automatic.
  • - Returns depend on actual voucher approvals and unit design.
Option B
STVR compound

Higher-ceiling compound strategy with more licensing, courtyard, and circulation risk.

Pros

  • + Higher revenue ceiling.
  • + Near the airport.
  • + Developing corridor.
  • + Better fit for contractor, relocation, medical, or extended-stay demand.

Cons

Total cost

$711k

Cash in

$142k

Gross rent

$7.2k/mo

Cash flow

$12.7k/yr

CoC return

8.94%

DSCR

1.29

Capital stack

Line itemAmountNote
Purchase price$400,000Acquisition
Rear triplex build$300,000New construction
Closing costs

Total cost

$711k

Cash in

$142k

Gross rent

$7.2k/mo

Cash flow

$12.7k/yr

CoC return

8.94%

DSCR

1.29

Capital stack

Line itemAmountNote
Purchase price$400,000Acquisition
Rear triplex build$300,000New construction
Closing costs
1300 Laurens Rd investor spreadsheet model
Google Sheets·Anyone with the link can viewLast updated June 16, 2026
See Full Projections
1300 Laurens Rd investor spreadsheet model
Google Sheets·Anyone with the link can viewLast updated June 16, 2026
See Full Projections

The three reasons this is worth studying

The numbers alone do not carry the deal. The value is in the combination.

1. The rear land creates the second act

The rear portion is the part of the property that changes the conversation.

If it can be used cleanly, it gives the investor more than a front building on a busy corridor. It creates room for a second income component, a future build, a resale story, or a more creative long-term hold.

That is why the rear land matters. It is not just extra square footage. It is optionality.

2. MX-2 zoning creates more pivots than a standard residential deal

Off-market deal flow
Get Off Market deals directly

Share what you want to see next and Matthew can follow up with deal notes that fit your buy box.

Request off-market updates

MX-2 is the reason this does not read like a normal small residential property.

The zoning appears to allow a wider range of uses than a basic residential play, including possibilities tied to office, retail, lodging, and mixed-use patterns. That does not mean every idea works automatically. It means the investor has more ways to solve the property than they would in a more restrictive zone.

That flexibility matters if the first plan changes.

3. The income path has more than one lane

The cleanest version is not trying to make the whole property do one thing.

The front stays commercial. The rear becomes residential. That gives the investor two different income stories inside one project instead of depending on a single tenant, single use, or single resale angle.

The three reasons this is worth studying

The numbers alone do not carry the deal. The value is in the combination.

1. The rear land creates the second act

The rear portion is the part of the property that changes the conversation.

If it can be used cleanly, it gives the investor more than a front building on a busy corridor. It creates room for a second income component, a future build, a resale story, or a more creative long-term hold.

That is why the rear land matters. It is not just extra square footage. It is optionality.

2. MX-2 zoning creates more pivots than a standard residential deal

Off-market deal flow
Get Off Market deals directly

Share what you want to see next and Matthew can follow up with deal notes that fit your buy box.

Request off-market updates

MX-2 is the reason this does not read like a normal small residential property.

The zoning appears to allow a wider range of uses than a basic residential play, including possibilities tied to office, retail, lodging, and mixed-use patterns. That does not mean every idea works automatically. It means the investor has more ways to solve the property than they would in a more restrictive zone.

That flexibility matters if the first plan changes.

3. The income path has more than one lane

The cleanest version is not trying to make the whole property do one thing.

The front stays commercial. The rear becomes residential. That gives the investor two different income stories inside one project instead of depending on a single tenant, single use, or single resale angle.

The rear concept that makes the most sense to study is a triplex, not a forced four-unit plan. Four units can push the conversation into apartment territory. A triplex keeps the idea more focused: a smaller residential income component behind the commercial frontage, if the site, parking, access, utilities, and city feedback support it.

That is why the income path matters. The deal is not only about buying yield. It is about creating a property with a better structure than it has today.

What this could bring an investor if it works

Picture the cleaner version of the project after the hard part is done.

The front of the property stays commercial. That piece gives the deal its corridor identity and keeps the Laurens Road frontage working like a Laurens Road asset should.

The rear becomes the second act: a small residential triplex instead of forcing a four-unit apartment concept. That distinction matters. The goal is not to chase the biggest possible version of the plan. The goal is to find the version that can actually work, get approved, be financed, and become part of a stronger long-term hold.

That is the real prize.

Not a quick flip. Not a spreadsheet fantasy. A front commercial income piece paired with a rear residential income piece, creating a more useful property than what is sitting there today.

For the right investor, that can mean:

  • a commercial asset that still benefits from Laurens Road visibility;
  • a rear residential component that adds a separate income story;
  • a better chance to improve income over time;
  • more control over the exit instead of depending on one narrow buyer pool;
  • a property that can become part of a portfolio, not just another one-off deal.

This is also why it is not for everyone. The same moving parts that create upside can create headaches.

The rear concept that makes the most sense to study is a triplex, not a forced four-unit plan. Four units can push the conversation into apartment territory. A triplex keeps the idea more focused: a smaller residential income component behind the commercial frontage, if the site, parking, access, utilities, and city feedback support it.

That is why the income path matters. The deal is not only about buying yield. It is about creating a property with a better structure than it has today.

What this could bring an investor if it works

Picture the cleaner version of the project after the hard part is done.

The front of the property stays commercial. That piece gives the deal its corridor identity and keeps the Laurens Road frontage working like a Laurens Road asset should.

The rear becomes the second act: a small residential triplex instead of forcing a four-unit apartment concept. That distinction matters. The goal is not to chase the biggest possible version of the plan. The goal is to find the version that can actually work, get approved, be financed, and become part of a stronger long-term hold.

That is the real prize.

Not a quick flip. Not a spreadsheet fantasy. A front commercial income piece paired with a rear residential income piece, creating a more useful property than what is sitting there today.

For the right investor, that can mean:

  • a commercial asset that still benefits from Laurens Road visibility;
  • a rear residential component that adds a separate income story;
  • a better chance to improve income over time;
  • more control over the exit instead of depending on one narrow buyer pool;
  • a property that can become part of a portfolio, not just another one-off deal.

This is also why it is not for everyone. The same moving parts that create upside can create headaches.

Deal Talk
Talk through a deal

Walk through the assumptions, pressure-test the strategy, and decide what needs to be verified before making a move.

Talk through the deal

Why this is the type of project that matters now

You cannot only rely on clean on-market deals anymore.

Every Joe Schmo with a spreadsheet thinks they can buy an investment property, plug in rent, assume appreciation, and call it a strategy. Those deals are the first ones everyone sees. They get bid up, overexplained, and picked apart before a real operator has much room left.

The better opportunities usually look messier at first.

They need someone who can see the front commercial use, understand the rear residential play, ask the right zoning and site questions, and figure out whether the pieces can work together. That is where a portfolio gets built: not by buying the most obvious rental on the market, but by finding small projects where the right plan can create value.

That is the reason to study 1300 Laurens Rd.

Not because it is easy. Because if the front commercial piece and rear triplex concept can be made real, the property becomes more than a listing. It becomes a project with a story, a plan, and a reason to exist inside a long-term investment portfolio.

Talk through the deal

Walk through the assumptions, pressure-test the strategy, and decide what needs to be verified before making a move.

Talk through the dealRequest an investor review
Deal Talk
Talk through a deal

Walk through the assumptions, pressure-test the strategy, and decide what needs to be verified before making a move.

Talk through the deal

Why this is the type of project that matters now

You cannot only rely on clean on-market deals anymore.

Every Joe Schmo with a spreadsheet thinks they can buy an investment property, plug in rent, assume appreciation, and call it a strategy. Those deals are the first ones everyone sees. They get bid up, overexplained, and picked apart before a real operator has much room left.

The better opportunities usually look messier at first.

They need someone who can see the front commercial use, understand the rear residential play, ask the right zoning and site questions, and figure out whether the pieces can work together. That is where a portfolio gets built: not by buying the most obvious rental on the market, but by finding small projects where the right plan can create value.

That is the reason to study 1300 Laurens Rd.

Not because it is easy. Because if the front commercial piece and rear triplex concept can be made real, the property becomes more than a listing. It becomes a project with a story, a plan, and a reason to exist inside a long-term investment portfolio.

Talk through the deal

Walk through the assumptions, pressure-test the strategy, and decide what needs to be verified before making a move.

Talk through the dealRequest an investor review

Sources

  • 1300 Laurens Rd investor spreadsheet model - Shared model used for acquisition, debt, rent, DSCR, and return assumptions
  • City of Greenville affordable housing projects - City program reference for affordable housing incentives and funding context
  • MX-2 zoning uses reference - Working reference packet for MX-2 use, lodging, parking, and development standards

Related links

  • Investor intake - Share the type of Greenville investment property you are trying to find or evaluate.

Sources

  • 1300 Laurens Rd investor spreadsheet model - Shared model used for acquisition, debt, rent, DSCR, and return assumptions
  • City of Greenville affordable housing projects - City program reference for affordable housing incentives and funding context
  • MX-2 zoning uses reference - Working reference packet for MX-2 use, lodging, parking, and development standards

Related links

  • Investor intake - Share the type of Greenville investment property you are trying to find or evaluate.

Frequently asked questions

Frequently asked questions

  • - Higher initial start cost for a serious courtyard.
  • - Tenant and guest circulation has to be solved.
  • - STR licensing and the 25 percent cap on 4-plus-unit buildings must be structured correctly.
  • $11,000
    Preliminary
    Total project cost$711,000Before contingency pressure
    Down payment$142,20020 percent cash in the model
    Loan amount$568,8006.6 percent, 30-year assumption
    Monthly mortgage$3,633Fixed debt assumption
  • - Higher initial start cost for a serious courtyard.
  • - Tenant and guest circulation has to be solved.
  • - STR licensing and the 25 percent cap on 4-plus-unit buildings must be structured correctly.
  • $11,000
    Preliminary
    Total project cost$711,000Before contingency pressure
    Down payment$142,20020 percent cash in the model
    Loan amount$568,8006.6 percent, 30-year assumption
    Monthly mortgage$3,633Fixed debt assumption

    Year-one returns

    Line itemAmountNote
    Monthly gross rent$7,200All units
    Vacancy-$2163 percent monthly vacancy
    Annual NOI$56,304Before debt service
    Annual cash flow$12,712After mortgage
    Cash-on-cash return8.94 percentOn modeled cash deployed
    Year-one principal paydown$6,238Equity via amortization
    Appreciation estimate$20,0005 percent estimate
    Depreciation tax benefit

    Year-one returns

    Line itemAmountNote
    Monthly gross rent$7,200All units
    Vacancy-$2163 percent monthly vacancy
    Annual NOI$56,304Before debt service
    Annual cash flow$12,712After mortgage
    Cash-on-cash return8.94 percentOn modeled cash deployed
    Year-one principal paydown$6,238Equity via amortization
    Appreciation estimate$20,0005 percent estimate
    Depreciation tax benefit
    $2,618
    24 percent tax-rate assumption
    Total year-one benefit$41,56829.2 percent modeled all-in benefit
    DSCR1.29Model clears many lender screens, subject to lender rules
    $2,618
    24 percent tax-rate assumption
    Total year-one benefit$41,56829.2 percent modeled all-in benefit
    DSCR1.29Model clears many lender screens, subject to lender rules