Updated Brick
For Sale
$439,000
1504 Heard Avenue, Augusta, GA 30904
Residential Income, Augusta, GA
Property Size3,360 SF
Lot Size0.46 Acres
Price / SF$130.65
Days on Market97
Property Features for 1504 Heard Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
Residential
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bathroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 7, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 4
Patio and Porch features
Porch
Subdivision
Pendleton King
Elementary school
Monte Sano
Middle school
A R Johnson H.S.E.
High school
Richmond Academy
Directions
Take Wrightsboro road towards downtown Augusta. Turn right onto Heard Ave. Turn left to stay on Heard Ave. Property on your left.
Standard status
Active
APN
0572108000
Size
3,360 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
1504 Heard Ave Augusta GA 30904
Tax Annual Amount
3397
Legal Description
1504 Heard Ave Augusta GA 30904
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
4
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Realty Augusta Partners
Listed By:
Sherman Burnett · License #380592
(706) 466-6949
Added: Jun 16
Changed: Sep 19
Last Checked: Sep 20 at 3:06AM
MLS# 100581984
Copyright © 2026 Hive MLS. 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 quadplex consists of two brick duplex buildings situated on the same 0.46-acre lot. The property contains 3,360 square feet and was built in 1979, with four bathrooms and eight bedrooms identified in the room details. Interior improvements were completed in 2023, and the composition roof is less than two years old.
The property is located at 1504 Heard Avenue in Augusta, Georgia, within Richmond County. Residential zoning applies, and the site is served by public water and public sewer. Building features include porches, central air conditioning, and electric forced-air heating.
The property is located at 1504 Heard Avenue in Augusta, Georgia, within Richmond County. Residential zoning applies, and the site is served by public water and public sewer. Building features include porches, central air conditioning, and electric forced-air heating.
Key Highlights
- Two brick duplexes on one 0.46‑acre lot
- 3,360 square feet with 8 bedrooms and 4 bathrooms
- Interior updates completed in 2023
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
$32,952
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
7.51%
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%
$659,040
$659.0K
Cap Rate 7%
$470,743
$470.7K
Cap Rate 9%
$366,133
$366.1K
Market Conditions
NOI Build-Up for 3,360 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
$51.2K $15.24/SF
− Vacancy
−$4.1K −$1.23/SF
EGI
$47.1K $14.01/SF
− OpEx
−$14.1K −$4.20/SF
NOI
$33.0K $9.81/SF
Area
Augusta, GA
Vacancy
8.07%
Lease Rate
$15.24 /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%
$659,040
Cap Rate 7%
$470,743
Cap Rate 9%
$366,133
Alternative Uses
Best Use
Multifamily LT 5
$470.7K
$411.9K – $549.2K
NOI $32,952 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$434.8K
$380.5K – $507.3K
NOI $30,437 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.06M
$928.0K – $1.24M
NOI $74,238 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two brick duplexes share one residential lot with a newer roof and interior updates completed in 2023.
Where is this quadplex located?
The property is located at 1504 Heard Avenue Augusta, GA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two brick duplexes on one 0.46‑acre lot; 3,360 square feet with 8 bedrooms and 4 bathrooms; Interior updates completed in 2023
