Duplex Property with Flexible
For Sale
$259,900
1115 Slater St, Valdosta, GA 31602
Residential Income, Valdosta, GA
Property Size1,976 SF
Lot Size0.23 Acres
Price / SF$131.53
Days on Market33
Property Features for 1115 Slater St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-P
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 2
Parking features
Driveway
Window features
Wood Frames
Interior features
Ceiling Fan(s)
Appliances
Refrigerator
Subdivision
Ashley Terrace
Standard status
Active
APN
0116C 019
Size
1,976 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lt 1 Blk C Ashley Terrace
Tax Annual Amount
2341
Legal Description
Lt 1 Blk C Ashley Terrace
Utilities
Sewer type
Public Sewer
Heating system
Central, Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Flooring type
Hardwood, Tile
Building materials
Wood Siding
Listing Agency:
Southern Classic Realtors
(678) 635-8877
Listed By:
Samuel Straka · License #406171
(229) 561-9938
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 29 at 7:06AM
MLS# 154523
Copyright © 2026 South Georgia MLS (Valdosta). 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 1,976-square-foot property was built in 1976 and is currently used as a real estate office. The layout includes 8 potential bedrooms, 2 full bathrooms, 1 half bathroom, and 1 kitchen, with 4 separate entrances that support multiple configuration options. Hardwood and tile flooring, central air, a heat pump, a new HVAC system, and a new fence are included. Public water and public sewer serve the property, with driveway parking available.
The 0.23-acre parcel is zoned R-P and borders the VSU campus. The property is also within walking distance of the campus and nearby amenities. Its existing office configuration and stated potential for conversion to duplex residential use provide flexibility for the next owner.
The 0.23-acre parcel is zoned R-P and borders the VSU campus. The property is also within walking distance of the campus and nearby amenities. Its existing office configuration and stated potential for conversion to duplex residential use provide flexibility for the next owner.
Key Highlights
- 1,976‑square‑foot property on a 0.23‑acre lot
- R‑P zoning with stated potential for duplex residential use
- 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen
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
$13,192
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
5.08%
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%
$263,840
$263.8K
Cap Rate 7%
$188,457
$188.5K
Cap Rate 9%
$146,578
$146.6K
Market Conditions
NOI Build-Up for 1,976 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
$20.2K $10.20/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$18.8K $9.54/SF
− OpEx
−$5.7K −$2.86/SF
NOI
$13.2K $6.68/SF
Area
Lowndes County, GA
Vacancy
6.50%
Lease Rate
$10.20 /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%
$263,840
Cap Rate 7%
$188,457
Cap Rate 9%
$146,578
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$169.5K
$148.3K – $197.8K
NOI $11,866 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$300.0K
$262.5K – $350.0K
NOI $20,999 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-P-zoned property currently configured as a real estate office with features supporting residential conversion.
Where is this duplex located?
The property is located at 1115 Slater St Valdosta, GA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,976‑square‑foot property on a 0.23‑acre lot; R‑P zoning with stated potential for duplex residential use; 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen
