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    Renovated Quadplex in West Rome Title is generated by Realmo AI

    103 Asbury Drive NW, Rome, GA 30165

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    Claim this Listing
    Pending
    $359,000

    MULTI_FAMILY - Rome, GA

    Property size:
    810 SF
    Lot size:
    0.24 Acres
    Added:
    Feb 16, 2026
    Days on Market:
    106
    Last Refresh:
    Jun 2 at 12:06 pm

    Property Features for 103 Asbury Drive NW

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking
    8
    Standard status
    Pending
    APN
    I12 021
    Size
    810 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    6215

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1981
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick, Press Board

    We can help!

    Listing Contact
    Thomas Sipp

    Listing agent Thomas Sipp License #56741

    Listing office Hardy Realty & Development Company 1609 Martha Berry Blvd., Rome, GA

    Listing date Feb 16, 2026

    MLS# 10701650 Listing URL

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully renovated interiors (2023‑2024) in all four units.
    • Fully occupied quadruplex providing immediate rental income.
    • Separate power and gas meters for each unit, tenant paid.
    • Month‑to‑month leases offer flexibility to adjust rental rates.
    • Convenient location near Shorter Ave, Redmond Circle, shopping, schools, and employment centers.
    • Each unit is a 2BR/1BA with approximately 810 SF.

    Overview

    This is an investor opportunity to acquire a fully occupied quadruplex located in West Rome, near Redmond Circle. Constructed in 1981 with brick and press board, the property features interiors that were completely renovated between 2023 and 2024. Each of the four units includes two bedrooms and one bathroom, with an approximate area of 810 square feet. The property, situated on a 0.237-acre lot, is supplied with public water by the seller, and tenants have separate meters for power and gas. Unit amenities include a range/oven, refrigerator, and smoke/fire alarms. Current rents for the units range from $800 to $850 per month, with month-to-month leases in place, offering flexibility for future rent adjustments. The location is convenient to Shorter Ave, Redmond Circle, shopping centers, schools, and employment centers. This property is an ideal addition to any rental portfolio or a great entry point into multifamily investing. Unit 3 is currently vacant and available for viewing.
    Property Profile Location Intelligence

    Current Use by Public Records

    KEVAREL (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Floyd
    State
    Georgia
    Longitude
    -85.212589
    Latitude
    34.287721

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    FAQs

    What type of property is this?
    Quadplex - Fully occupied quadruplex with renovated interiors, ideal for investors.
    Where is this quadplex located?
    The property is located at 103 Asbury Drive NW Rome, GA.
    What is the asking price?
    The asking price for this property is $359,000.
    What are key features of this property?
    This property features: Fully renovated interiors (2023‑2024) in all four units.; Fully occupied quadruplex providing immediate rental income.; Separate power and gas meters for each unit, tenant paid.
    (706) 346-4077
    We can help!
    Listing Contact
    Thomas Sipp
    Real Estate License ID: 56741
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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