Duplex with Detached
For Sale
$250,000
1008 Merry St, Augusta, GA 30904
Two vacant residences provide separate living spaces, including a rear cottage with one bedroom and one bathroom.
Property Size1,521 SF
Price / SF$164.37
Days on Market18
Property Features for 1008 Merry St
General Information
Standard status
Active
Size
1,521 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
ERA Wilder Realty
Listed By:
Derya Martin · License #304649
(803) 728-8400
Source:
Searchgreateraugustahomes
Added: Sep 23
Changed: Oct 3
Last Checked: Oct 9 at 7:46PM
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 ERA Wilder Realty
Investment Insights
Based on property information with market context.
This duplex property comprises a main residence of approximately 1,009 square feet and a detached rear cottage measuring approximately 512 square feet. The main home has two dedicated bedrooms, one bathroom, and an additional flexible room. The cottage contains one bedroom and one bathroom. Both residences are vacant. Recent work replaced the subfloor and added hardwood flooring in the secondary bedroom and formal dining/living room. The property was built in 1926.
The homes are in Augusta near the medical and university area, with access from the Wrightsboro Road corridor.
The homes are in Augusta near the medical and university area, with access from the Wrightsboro Road corridor.
Key Highlights
- Main residence measures approximately 1,009 sq ft; detached rear cottage measures approximately 512 sq ft
- Both residences are vacant
- Main home has 2 dedicated bedrooms, 1 bathroom, and an additional flexible room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,917
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$298,340
$298.3K
Cap Rate 7%
$213,100
$213.1K
Cap Rate 9%
$165,744
$165.7K
Market Conditions
NOI Build-Up for 1,521 SF
Gross rent
$23.2K $15.24/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$21.3K $14.01/SF
− OpEx
−$6.4K −$4.20/SF
NOI
$14.9K $9.81/SF
Area
Augusta, 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 Rate 5%
$298,340
Cap Rate 7%
$213,100
Cap Rate 9%
$165,744
Alternative Uses
Best Use
Multifamily LT 5
$213.1K
$186.5K – $248.6K
NOI $14,917 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$196.8K
$172.2K – $229.6K
NOI $13,778 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$480.1K
$420.1K – $560.1K
NOI $33,606 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences provide separate living spaces, including a rear cottage with one bedroom and one bathroom.
Where is this duplex located?
The property is located at 1008 Merry St Augusta, GA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Main residence measures approximately 1,009 sq ft; detached rear cottage measures approximately 512 sq ft; Both residences are vacant; Main home has 2 dedicated bedrooms, 1 bathroom, and an additional flexible room
