Four-Unit Duplex
For Sale
$460,000
06-10-5406 10 Worthington St, Lake Park, GA 31636
Four residential units feature finished kitchens, in-unit laundry rooms, patios, and backyard space.
Property Size2,184 SF
Lot Size0.46 Acres
Price / SF$210.62
Days on Market146
Property Features for 06-10-5406 10 Worthington St
General Information
Standard status
Active
Size
2,184 SF
Lot size
0.46 Acres
Property subtype
Residential Income
Units
Unit Mix
4 x 3BR/2.5BA (2184 sq ft)
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,725
Amenities
laundry room
large backyard with patio
Building Details
Buildings
2
Listing Agency:
Prime Properties Services, LLC
(229) 563-2030
Listed By:
Cindy Pegg
(229) 563-2030
Source:
Exprealty
Added: Mar 18
Changed: Aug 8
Last Checked: Aug 10 at 10:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Prime Properties Services, LLC
Investment Insights
Based on property information with market context.
This property comprises two duplex buildings with four residential units. Each unit offers 2,184 square feet, three bedrooms, and 2.5 baths. Interior finishes include tile in the kitchen and LVP flooring throughout, while each kitchen includes a refrigerator and stove. Laundry rooms, backyard areas, and patios add functional residential amenities. The property sits on a 0.46-acre lot and has an established rental history.
The property is located one minute from Lake Park shopping, restaurants, and I-75. The surrounding lake community provides access to boating, fishing, and camping, with Wild Adventures Theme Park also described as accessible from the property. The layout may accommodate an owner occupant in one unit while the remaining units are rented, as supported by the existing four-unit configuration.
The property is located one minute from Lake Park shopping, restaurants, and I-75. The surrounding lake community provides access to boating, fishing, and camping, with Wild Adventures Theme Park also described as accessible from the property. The layout may accommodate an owner occupant in one unit while the remaining units are rented, as supported by the existing four-unit configuration.
Key Highlights
- Two duplex buildings containing 4 residential units
- Each unit measures 2,184 square feet with 3 bedrooms and 2.5 baths
- 0.46‑acre lot with backyard areas and patios
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
$14,580
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
3.17%
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%
$291,600
$291.6K
Cap Rate 7%
$208,286
$208.3K
Cap Rate 9%
$162,000
$162.0K
Market Conditions
NOI Build-Up for 2,184 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
$22.3K $10.20/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$20.8K $9.54/SF
− OpEx
−$6.2K −$2.86/SF
NOI
$14.6K $6.68/SF
Area
Lowndes County, GA
Vacancy
6.50%
Lease Rate
$10.20 /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%
$291,600
Cap Rate 7%
$208,286
Cap Rate 9%
$162,000
Alternative Uses
Best Use
Multifamily LT 5
$208.3K
$182.3K – $243.0K
NOI $14,580 @ 7.0% cap · market cap 3.17%
Second Best
Apartment 5plus
$187.4K
$163.9K – $218.6K
NOI $13,115 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$331.6K
$290.1K – $386.8K
NOI $23,210 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 31636, GA
10,136
Population
4,989
Households
2
Avg Household Size
39
Median Age
18%
College-Educated
92%
High-School Grad
185.8 sq mi
ZIP Area
55
Density / Sq Mi
$64,340
Median Household Income
$37,348
Median Earnings
$814
Median Rent
$204,200
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 - Four residential units feature finished kitchens, in-unit laundry rooms, patios, and backyard space.
Where is this duplex located?
The property is located at 06-10-5406 10 Worthington St Lake Park, GA.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two duplex buildings containing 4 residential units; Each unit measures 2,184 square feet with 3 bedrooms and 2.5 baths; 0.46‑acre lot with backyard areas and patios
