Turnkey Duplex Income
For Sale
$235,000
Pending
7117 Pineneedle Drive SW, Covington, GA 30014
MULTI_FAMILY - Covington, GA
Property Size1,536 SF
Lot Size0.35 Acres
Days on Market183
Property Features for 7117 Pineneedle Drive SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
Driveway
Subdivision
Green Acres
Lot features
Level
View
City
Elementary school
Middle Ridge
Middle school
Indian Creek
High school
Eastside
Directions
Use GPS
Standard status
Pending
APN
C029000050009000
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2651
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
2
Flooring type
Carpet
Building materials
Cedar
Roof type
Composition
Listing Agency:
OneSource Real Estate, LLC
(678) 498-6400
Listed By:
Matthew Nicklin · License #350266
(678) 498-6400
Added: Jan 28
Changed: Jul 28
Last Checked: Jul 30 at 1:06PM
MLS# 7710759
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.
This turnkey duplex features two mirror-image units, each laid out as a 2-bedroom, 1-bath residence. The property was built in 1985 and sits on a low-maintenance lot. Each unit has separate utility metering for electricity, gas, and water, supporting straightforward landlord expense management.
The duplex is located in Covington within Newton County. The property’s public remarks note it is conveniently situated near shopping, dining, and major highways for commuting, and it is described as being zoned for Middle Ridge Elementary, Liberty Middle, and Eastside High School.
With both units currently leased, the asset is positioned for immediate rental income. The building totals approximately 1,536 square feet, with functional, tenant-friendly floor plans described as including comfortable living areas and practical kitchens.
The duplex is located in Covington within Newton County. The property’s public remarks note it is conveniently situated near shopping, dining, and major highways for commuting, and it is described as being zoned for Middle Ridge Elementary, Liberty Middle, and Eastside High School.
With both units currently leased, the asset is positioned for immediate rental income. The building totals approximately 1,536 square feet, with functional, tenant-friendly floor plans described as including comfortable living areas and practical kitchens.
Key Highlights
- 100% Occupied: Generates immediate rental income.
- Investor‑Friendly: Separately metered utilities simplify management.
- Spacious Units: Two 2‑bedroom, 1‑bath units, each approximately 768 sq ft.
Financial Insights For Apartment 5plus
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 | $40.0k | $26.04 |
| − Vacancy | −$2.5k | −$1.61 |
| EGI | $37.5k | $24.43 |
| − OpEx | −$16.9k | −$10.99 |
| NOI | $20.6k | $13.43 |
1,536 SF · lease $26.04/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$318.8K
$279.0K – $372.0K
NOI $22,318 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$294.8K
$257.9K – $343.9K
NOI $20,635 @ 7.0% cap · market cap 8.78%
Theoretical Best
Office A
$429.4K
$375.7K – $500.9K
NOI $30,056 @ 7.0% cap · market cap 12.79%
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
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 30014, GA
39,247
Population
16,159
Households
2.4
Avg Household Size
39
Median Age
24%
College-Educated
86%
High-School Grad
120.7 sq mi
ZIP Area
325
Density / Sq Mi
$71,055
Median Household Income
$37,714
Median Earnings
$1,199
Median Rent
$253,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey two-unit duplex with separate utility meters for electricity, gas, and water.
Where is this duplex located?
The property is located at 7117 Pineneedle Drive SW Covington, GA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 100% Occupied: Generates immediate rental income.; Investor‑Friendly: Separately metered utilities simplify management.; Spacious Units: Two 2‑bedroom, 1‑bath units, each approximately 768 sq ft.
