Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    242 Hooper Rd Cleveland, GA 30528

    Sponsored
    For Sale
    Pending
    $440,000

    Duplex - Cleveland, GA

    Type:Duplex
    Lot size:
    1.17 Acres
    Days on Market:
    6
    Last Refresh:
    Jan 27 at 7:06 pm

    Property Features for 242 Hooper Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Pending
    Lot size
    1.17 Acres

    Utilities

    Heating system
    Forced Air, Heat Pump (Heating), Zoned (Heating)
    Cooling system
    Ceiling Fan(s), Central Air, Electric, Heat Pump

    Building Details

    Year built
    2005
    Flooring type
    Hardwood, Vinyl
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Jeffry E. Scott

    Berkshire Hathaway HomeServices Georgia Properties (770) 814-2300

    Listing agent Jeffry E. Scott (770) 814-2300

    Listing date Jan 22, 2026

    MLS# 7620542 Listing URL

    Copyright © 2026 Berkshire Hathaway HomeServices Georgia Properties. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Duplex in Cleveland, GA

    This fully leased and renovated duplex in Cleveland, GA, presents a rare investment opportunity. The property boasts an approximate 12.07% cap rate and has been completely renovated from top to bottom, with no expense spared. The investor is selling because they prefer not to manage properties. The leases are NN, meaning the owner's only costs are approximately $360 per year for the water bill and property taxes. The extensive renovation includes a metal roof, smooth ceilings, spacious layouts with 3 bedrooms and an office, updated electrical panel, new lights, new layout, new kitchen, and two new bathrooms. The property also features new paint and flooring. Downstairs, there are two bedrooms and two baths. Situated on 1.17 acres, the duplex now has a front yard and a peaceful wooded setting. This property offers a great investment opportunity, either as two separate Air B&Bs or a standard duplex. Separately metered, everything is ready for a new owner to purchase, close, and receive income. Located in a highly sought-after area of Cleveland.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Spa & Massage Auto Repair Shop Hotel & Motel Bed & Breakfast Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    White
    State
    Georgia
    Longitude
    -83.848288
    Latitude
    34.593698

    Nearby Similar for Sale

    • $99,900
      0.17 Acres

      RV Lot in Gated Community

      Shady RV lot with full hook-ups in Paradise Valley.
      318 Hidden Valley Rd, Cleveland, GA 30528
      View Details
    • $99,900
      0.17 Acres

      RV Lot in Gated Community

      Shady RV lot with full hook-ups in Paradise Valley.
      318 Hidden Valley Rd, Cleveland, GA 30528
      View Details
    • $490,000
      2,959 SF

      New Farmhouse in Cleveland, GA

      Modern farmhouse with 3 bedrooms, flex room, and covered porches.
      477 Thomason Rd, Cleveland, GA 30528
      View Details
    • New
      $475,000
      2,959 SF

      Modern Farmhouse in Cleveland, Georgia

      New 3-bedroom, 2-bath farmhouse on 1.37 acres near downtown Cleveland.
      618 Thomas Rd, Cleveland, GA 30528
      View Details
    • New
      $440,000
      Pending

      Renovated Duplex in Cleveland, GA

      Fully leased, renovated duplex with high cap rate in Cleveland.
      242 Hooper Rd, Cleveland, GA 30528
      View Details
    • $450,000
      2,800 SF

      Highway Frontage Commercial Opportunity

      Versatile commercial property with highway frontage between Cleveland and Gainesville.
      5282 Highway 129 S, Cleveland, GA 30528
      View Details
    • $1,680,000
      67.16 Acres

      67-Acre Land with Creek Frontage

      67-acre land featuring over half-mile frontage on Town Creek.
      2036 Adair Mill Rd, Cleveland, GA 30528
      View Details
    • $189,900
      1,392 SF

      Charming Home in Mountain Lakes

      3 bed, 2 bath home with upgrades in amenity-rich community.
      215 Canyon Pass, Cleveland, GA 30528
      View Details
    • $179,900
      2.33 Acres

      Land in Cleveland, Georgia

      2.33 acre property near Helen, GA with creek.
      Mill Creek Trl, Cleveland, GA 30528
      View Details
    • $435,000
      2.46 Acres

      Prime Cleveland Commercial Property

      2 Homes, Shop, 2.46 Acres
      5658 Highway 115, Cleveland, GA 30528
      View Details
    • $1,371,200
      17 SF

      Prime Cleveland Commercial Land

      17 Acres, High Visibility, Parkway Frontage
      Appalachian Pkwy, Cleveland, GA 30528
      View Details
    • $1,790,000
      2,500 SF

      Mountain Campground Business

      18 Acres, Thriving Business, Turnkey
      4542 Highway 129, Cleveland, GA 30528
      View Details

    FAQs

    What type of property is this?
    Duplex - Fully renovated duplex with high cap rate in Cleveland, GA.
    Where is this duplex located?
    The property is located at 242 Hooper Rd Cleveland, GA.
    What is the asking price?
    The asking price for this property is $440,000.
    What are key features of this property?
    This property features: - High Cap Rate (approx. 12.07%); - Fully Leased and Renovated Duplex; - Net-Net (NN) Leases with Minimal Owner Expenses
    (678) 410-2004
    Request Owner's contact information
    242 Hooper Rd Cleveland, GA 30528
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    242 Hooper Rd
    Cleveland, GA 30528
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    242 Hooper Rd Cleveland, GA 30528
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeffry E. Scott
    (678) 410-2004
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.