Brick Duplex with
For Sale
$139,000
Pending
716 Palmetto, Columbus, GA 31906
Residential Income, Columbus, GA
Property Size1,480 SF
Lot Size0.24 Acres
Days on Market50
Property Features for 716 Palmetto
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking features
Driveway
Subdivision
Theo Mcgee Park
Lot features
Less than 1/2 Acre, Level
Directions
From Martin Luther King Jr Blvd, Turn Onto Murray St. Make A Left Onto Palmetto Ave. The Home Will Be On Your Right.
Standard status
Pending
APN
025 016 007
Size
1,480 SF
Lot size
0.24 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1963
Number of units
2
Building materials
Brick
Listing Agency:
1st Class Real Estate Excellence
(706) 237-8680
Listed By:
Anthony Smith · License #264418
(706) 681-8651
Added: Jul 12
Changed: Aug 27
Last Checked: Aug 30 at 11:06PM
MLS# 232561
Copyright © 2026 Columbus Board of Realtors (GA). 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 duplex contains two residential units, each arranged with 2 bedrooms and 1 bathroom. The property measures 1,480 square feet on a 0.24-acre lot, with brick construction, driveway parking, and a 1963 build date.
Public water and public sewer serve the property. The address is 716 Palmetto in Columbus, Georgia 31906, within Muscogee County. The room inventory includes four bedrooms and two bathrooms overall, consistent with the two-unit configuration.
Public water and public sewer serve the property. The address is 716 Palmetto in Columbus, Georgia 31906, within Muscogee County. The room inventory includes four bedrooms and two bathrooms overall, consistent with the two-unit configuration.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,480 square feet on a 0.24‑acre lot
- Brick construction completed in 1963
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
$11,873
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
8.54%
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%
$237,460
$237.5K
Cap Rate 7%
$169,614
$169.6K
Cap Rate 9%
$131,922
$131.9K
Market Conditions
NOI Build-Up for 1,480 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
$23.1K $15.60/SF
− Vacancy
−$1.5K −$1.01/SF
EGI
$21.6K $14.59/SF
− OpEx
−$9.7K −$6.56/SF
NOI
$11.9K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$237,460
Cap Rate 7%
$169,614
Cap Rate 9%
$131,922
Alternative Uses
Best Use
Multifamily LT 5
$191.6K
$167.7K – $223.6K
NOI $13,415 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,873 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$331.2K
$289.8K – $386.4K
NOI $23,181 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 31906, GA
21,835
Population
11,046
Households
2
Avg Household Size
38
Median Age
31%
College-Educated
86%
High-School Grad
6.9 sq mi
ZIP Area
3,164
Density / Sq Mi
$41,913
Median Household Income
$35,820
Median Earnings
$872
Median Rent
$170,400
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 - Two-bedroom, one-bath units provide a straightforward residential layout in Columbus.
Where is this duplex located?
The property is located at 716 Palmetto Columbus, GA.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,480 square feet on a 0.24‑acre lot; Brick construction completed in 1963
