Tenant-Occupied Duplex: Income
332 Lockwood Terrace Decatur, GA 30030
For Sale
$725,000
Pending
MULTI_FAMILY - Decatur, GA
Property Size2,000 SF
Lot Size0.38 Acres
Days on Market140
Property Features for 332 Lockwood Terrace
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Driveway
Fencing
Privacy
Standard status
Pending
APN
18 007 05 137
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3392
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Duffy Realty of Atlanta
(678) 318-3613
Listed By:
RHONDA DUFFY · License #177871
(678) 892-1186
Added: Mar 10
Changed: Jul 11
Last Checked: Jul 27 at 9:06PM
MLS# 7732562
Copyright © 2026 First Multiple Listing Service, Inc. 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.
Located in Decatur, this tenant-occupied duplex at 332 Lockwood Terrace presents an opportunity for investors seeking instant rental income or buyers looking to occupy one unit while renting the other. The property features two units, each with 2 bedrooms and 1.5 baths, encompassing approximately 1,000 square feet. Recent enhancements include new water heaters in both units, fresh exterior paint, refurbishment of Unit B, and updated landscaping. Each unit has a private driveway and a large yard. The 0.38-acre lot offers space and independence for residents. The property benefits from its proximity to Downtown Atlanta and MARTA access. Residents can easily access Downtown Decatur's restaurants, shops, local events, nearby parks, public pools, and a local farmer's market just 2 miles away. With no HOA and no rent restrictions, this property provides flexibility for investors and owner-occupants. The location offers immediate income potential in a convenient area of Decatur.
Key Highlights
- Tenant‑occupied duplex providing instant rental income
- No HOA and no rental restrictions, offering flexibility
- Separate driveways and large, private yards for each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $22.20 |
| − Vacancy | −$2.9k | −$1.44 |
| EGI | $41.5k | $20.76 |
| − OpEx | −$12.5k | −$6.23 |
| NOI | $29.1k | $14.53 |
2,000 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.3K – $484.3K
NOI $29,060 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$383.8K
$335.9K – $447.8K
NOI $26,868 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$559.1K
$489.2K – $652.3K
NOI $39,135 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Decatur duplex with no HOA, rent restrictions, and instant income.
Where is this duplex located?
The property is located at 332 Lockwood Terrace Decatur, GA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Tenant‑occupied duplex providing instant rental income; No HOA and no rental restrictions, offering flexibility; Separate driveways and large, private yards for each unit
