Updated Brick
For Sale
Under Contract
$360,000
429 Evans Mill Drive, Evans, GA 30809
Residential Income, Evans, GA
Property Size2,156 SF
Lot Size0.31 Acres
Price / SF$166.98
Days on Market89
Property Features for 429 Evans Mill Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 2
Patio and Porch features
Patio
Interior features
Eat-in Kitchen
Appliances
Range
Subdivision
Evans Mill
Lot features
Level
Elementary school
South Columbia
Middle school
Lakeside
High school
Lakeside
Directions
Head toward Evans Town Center / Belair Road area on Washington Rd. Turn onto Evans to Locks Rd. Continue until you reach Evans Mill Dr. Turn onto Evans Mill Dr. Continue to 429 Evans Mill Dr.
Standard status
Active Under Contract
APN
077a086
Size
2,156 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Legal Description 1 LOT 20 Legal Description 2 EVANS MILL Legal Description 3
Tax Annual Amount
1863
Legal Description
Legal Description 1 LOT 20 Legal Description 2 EVANS MILL Legal Description 3
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Multi Units
Water source
Public
Amenities
rear patio space
spacious backyard with mature trees
Building Details
Year built
1984
Floors in Building
2
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Brick, Vinyl Siding
Roof type
Shingle
Listing Agency:
ERA Wilder Realty
(803) 765-0211
Listed By:
Derya Martin · License #304649
(803) 728-8400
Added: Jun 10
Changed: Sep 5
Last Checked: Sep 6 at 6:06AM
MLS# 100580729
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 2,156-square-foot duplex, built in 1984, contains two residences with matching layouts of two bedrooms and 1.5 baths. Each unit includes a living room, separate dining area, eat-in kitchen, laminate and carpet flooring, and a range. Kitchen improvements include granite countertops and stainless steel appliances. Fresh paint, newer flooring, and a new HVAC system in Unit A add to the recent updates. The property has a brick and vinyl-sided exterior, shingle roof, central air with multiple units, and forced-air heating.
Both units are currently leased. Unit B has a lease extending through 10/19/2026, while property management is handled on a month-to-month basis. The 0.31-acre parcel includes rear patio space and a spacious backyard with mature trees. Public water and public sewer serve the property, which is zoned R-2 in Columbia County.
Both units are currently leased. Unit B has a lease extending through 10/19/2026, while property management is handled on a month-to-month basis. The 0.31-acre parcel includes rear patio space and a spacious backyard with mature trees. Public water and public sewer serve the property, which is zoned R-2 in Columbia County.
Key Highlights
- 2,156‑square‑foot duplex on a 0.31‑acre parcel
- Both units currently leased; Unit B lease runs through 10/19/2026
- Each residence offers 2 bedrooms, 1.5 baths, living space, and separate dining
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
$21,144
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
5.87%
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%
$422,880
$422.9K
Cap Rate 7%
$302,057
$302.1K
Cap Rate 9%
$234,933
$234.9K
Market Conditions
NOI Build-Up for 2,156 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
$32.9K $15.24/SF
− Vacancy
−$2.7K −$1.23/SF
EGI
$30.2K $14.01/SF
− OpEx
−$9.1K −$4.20/SF
NOI
$21.1K $9.81/SF
Area
Columbia County, 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%
$422,880
Cap Rate 7%
$302,057
Cap Rate 9%
$234,933
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.3K – $352.4K
NOI $21,144 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$279.0K
$244.1K – $325.5K
NOI $19,530 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$680.5K
$595.5K – $793.9K
NOI $47,636 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 30809, GA
51,813
Population
18,920
Households
2.7
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
44.2 sq mi
ZIP Area
1,172
Density / Sq Mi
$130,150
Median Household Income
$56,391
Median Earnings
$1,659
Median Rent
$346,600
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 - Two leased units offer updated kitchens, private outdoor space, and separate living and dining areas.
Where is this duplex located?
The property is located at 429 Evans Mill Drive Evans, GA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,156‑square‑foot duplex on a 0.31‑acre parcel; Both units currently leased; Unit B lease runs through 10/19/2026; Each residence offers 2 bedrooms, 1.5 baths, living space, and separate dining
