Duplex Property with Flexible
For Sale
$259,900
1115 Slater St, Valdosta, GA 31602
Residential Income, Valdosta, GA
Property Size1,976 SF
Lot Size0.23 Acres
Price / SF$131.53
Days on Market94
Property Features for 1115 Slater St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-P
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 2, Bedroom 5, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2
Parking features
Driveway
Window features
Wood Frames
Interior features
Ceiling Fan(s)
Appliances
Refrigerator
Subdivision
Ashley Terrace
Standard status
Active
APN
0116C 019
Size
1,976 SF
Lot size
0.23 Acres
Additional Details
Currently Operating
Yes
Property Use
Real Estate Office
Taxes and HOA fees
Tax Year
2025
Tax Description
Lt 1 Blk C Ashley Terrace
Tax Annual Amount
2341
Legal Description
Lt 1 Blk C Ashley Terrace
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Central
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Flooring type
Hardwood, Tile
Building materials
Wood Siding
Listing Agency:
Southern Classic Realtors
(678) 635-8877
Listed By:
Samuel Straka
(229) 561-9938
Added: Jul 28
Changed: Oct 28
Last Checked: Oct 29 at 12:06AM
MLS# 154523
Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,976-square-foot property was built in 1976 and is currently used as a real estate office. The layout includes 8 potential bedrooms, 2 full bathrooms, 1 half bathroom, and 1 kitchen, with 4 separate entrances that support multiple configuration options. Hardwood and tile flooring, central air, a heat pump, a new HVAC system, and a new fence are included. Public water and public sewer serve the property, with driveway parking available.
The 0.23-acre parcel is zoned R-P and borders the VSU campus. The property is also within walking distance of the campus and nearby amenities. Its existing office configuration and stated potential for conversion to duplex residential use provide flexibility for the next owner.
The 0.23-acre parcel is zoned R-P and borders the VSU campus. The property is also within walking distance of the campus and nearby amenities. Its existing office configuration and stated potential for conversion to duplex residential use provide flexibility for the next owner.
Key Highlights
- 1,976‑square‑foot property on a 0.23‑acre lot
- R‑P zoning with stated potential for duplex residential use
- 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,192
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$263,840
$263.8K
Cap Rate 7%
$188,457
$188.5K
Cap Rate 9%
$146,578
$146.6K
Market Conditions
NOI Build-Up for 1,976 SF
Gross rent
$20.2K $10.20/SF
− Vacancy
−$1.3K −$0.66/SF
EGI
$18.8K $9.54/SF
− OpEx
−$5.7K −$2.86/SF
NOI
$13.2K $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 Rate 5%
$263,840
Cap Rate 7%
$188,457
Cap Rate 9%
$146,578
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$169.5K
$148.3K – $197.8K
NOI $11,866 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$300.0K
$262.5K – $350.0K
NOI $20,999 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
803
Businesses Nearby
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Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - R-P-zoned property currently configured as a real estate office with features supporting residential conversion.
Where is this duplex located?
The property is located at 1115 Slater St Valdosta, GA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: 1,976‑square‑foot property on a 0.23‑acre lot; R‑P zoning with stated potential for duplex residential use; 8 potential bedrooms, 2 full baths, 1 half bath, and 1 kitchen
