Renovated Duplex with Updated
For Sale
$162,900
Pending
1031 Lawyers Lane, Columbus, GA 31906
Residential Income, Columbus, GA
Property Size1,680 SF
Lot Size0.16 Acres
Days on Market60
Property Features for 1031 Lawyers Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3
Parking features
Driveway, On Street
Appliances
Range, Refrigerator
Subdivision
Britt Addition
Lot features
Less than 1/2 Acre
Directions
Wynnton Road To Lawyers Lane, Duplex Is On The Right.
Standard status
Pending
APN
066 033 003
Size
1,680 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Amenities
washer/dryer connections
Building Details
Year built
1933
Number of units
2
Flooring type
Hardwood
Building materials
Aluminum Siding
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
The Potts Team · License #00237674
(706) 442-1288
Added: Jun 27
Changed: Aug 24
Last Checked: Aug 25 at 6:06PM
MLS# 232580
Copyright © 2026 Columbus Board of Realtors (GA). 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 duplex contains 1,680 square feet across two residential units on a 0.16-acre lot. Built in 1933, the property has received updates within the last three years, including a Goodman HVAC system, plumbing, electrical service, and windows. Interior features include hardwood flooring, electric heat, ranges, refrigerators, and washer/dryer connections for both units. The exterior is finished with aluminum siding.
The property is located at 1031 Lawyers Lane in Columbus, Georgia, near shopping, restaurants, and Lake Bottom Park. A new stadium and freeway expansion are each within five minutes. Public water and public sewer serve the property, with parking available in the driveway and on the street. Both units are currently rented, and the property is reported at a 7.76% cap rate.
The property is located at 1031 Lawyers Lane in Columbus, Georgia, near shopping, restaurants, and Lake Bottom Park. A new stadium and freeway expansion are each within five minutes. Public water and public sewer serve the property, with parking available in the driveway and on the street. Both units are currently rented, and the property is reported at a 7.76% cap rate.
Key Highlights
- Two‑unit duplex totaling 1,680 square feet on a 0.16‑acre lot
- Updates within the last three years include Goodman HVAC, plumbing, electrical, and windows
- Both units include washer/dryer connections, ranges, and refrigerators
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
$13,477
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
8.27%
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%
$269,540
$269.5K
Cap Rate 7%
$192,529
$192.5K
Cap Rate 9%
$149,744
$149.7K
Market Conditions
NOI Build-Up for 1,680 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
$26.2K $15.60/SF
− Vacancy
−$1.7K −$1.01/SF
EGI
$24.5K $14.59/SF
− OpEx
−$11.0K −$6.56/SF
NOI
$13.5K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$269,540
Cap Rate 7%
$192,529
Cap Rate 9%
$149,744
Alternative Uses
Best Use
Multifamily LT 5
$217.5K
$190.3K – $253.8K
NOI $15,227 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$192.5K
$168.5K – $224.6K
NOI $13,477 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$375.9K
$328.9K – $438.6K
NOI $26,313 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 31906, GA
21,835
Population
11,046
Households
2
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
3,164
Density / Sq Mi
$41,913
Median Household Income
$35,820
Median Earnings
$872
Median Rent
$170,400
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 - Two-unit property with recent mechanical and utility upgrades, hardwood flooring, and washer/dryer connections in each unit.
Where is this duplex located?
The property is located at 1031 Lawyers Lane Columbus, GA.
What is the asking price?
The asking price for this property is $162,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,680 square feet on a 0.16‑acre lot; Updates within the last three years include Goodman HVAC, plumbing, electrical, and windows; Both units include washer/dryer connections, ranges, and refrigerators
