Triplex with Detached Carriage
For Sale
Under Contract
$394,900
12 Horne Place, Port Wentworth, GA 31407
MULTI_FAMILY - Port Wentworth, GA
Property Size2,450 SF
Lot Size0.22 Acres
Price / SF$161.18
Days on Market53
Property Features for 12 Horne Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2
Appliances
Electric Water Heater
Directions
At the end of Horne.
Standard status
Active Under Contract
APN
7001403024
Size
2,450 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT SOUTHEAST CORNER HORNE PLACE PORT WENTWORTH 70 X 135 X 70 X 135
Legal Description
LOT SOUTHEAST CORNER HORNE PLACE PORT WENTWORTH 70 X 135 X 70 X 135
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace, Central, Electric (Heating)
Cooling system
Electric, Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Listing Agency:
Seaport Real Estate Group
(912) 202-2042
Listed By:
John R. Carr V · License #389664
(912) 228-0916
Added: Jun 20
Changed: Aug 11
Last Checked: Aug 11 at 9:06PM
MLS# SA358792
Copyright © 2026 Hive MLS. 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.
Triplex investment on one lot featuring three income-producing units: a spacious 2-bedroom, 2-bath main house plus a detached carriage house with two furnished studio apartments. The main house is approximately 1,450 SF, and each studio apartment is approximately 500 SF, for a total property size of 2,450 SF on a 0.217-acre lot. All three units are currently leased.
Updates include durable LVP flooring, modern kitchens, and stainless steel appliances across the units. The property is serviced by public water and public sewer. Heating options include wall furnace, electric (heating), and central; cooling includes electric, central air, and wall unit(s). An electric water heater is also provided.
Built in 1955, 12 Horne Place offers a straightforward structure for investors seeking multiple rental streams within a single, maintained property configuration.
Updates include durable LVP flooring, modern kitchens, and stainless steel appliances across the units. The property is serviced by public water and public sewer. Heating options include wall furnace, electric (heating), and central; cooling includes electric, central air, and wall unit(s). An electric water heater is also provided.
Built in 1955, 12 Horne Place offers a straightforward structure for investors seeking multiple rental streams within a single, maintained property configuration.
Key Highlights
- Three income‑producing units: 2‑bedroom, 2‑bath main house plus two furnished studio apartments
- 2,450 SF total with 0.217‑acre lot
- Main house approx. 1,450 SF; each studio approx. 500 SF
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
$25,977
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
6.58%
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%
$519,540
$519.5K
Cap Rate 7%
$371,100
$371.1K
Cap Rate 9%
$288,633
$288.6K
Market Conditions
NOI Build-Up for 2,450 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
$39.7K $16.20/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$37.1K $15.15/SF
− OpEx
−$11.1K −$4.54/SF
NOI
$26.0K $10.60/SF
Area
Chatham County, GA
Vacancy
6.50%
Lease Rate
$16.20 /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%
$519,540
Cap Rate 7%
$371,100
Cap Rate 9%
$288,633
Alternative Uses
Best Use
Multifamily LT 5
$371.1K
$324.7K – $433.0K
NOI $25,977 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$344.2K
$301.1K – $401.5K
NOI $24,091 @ 7.0% cap · market cap 6.10%
Theoretical Best
Warehouse
$2.29M
$2.00M – $2.67M
NOI $160,278 @ 7.0% cap · market cap 40.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 31407, GA
20,990
Population
9,613
Households
2.2
Avg Household Size
32
Median Age
37%
College-Educated
92%
High-School Grad
33.9 sq mi
ZIP Area
619
Density / Sq Mi
$83,954
Median Household Income
$42,367
Median Earnings
$1,726
Median Rent
$223,100
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?
Triplex - Triplex on one lot with three currently leased units, public water and sewer, and updated finishes throughout.
Where is this triplex located?
The property is located at 12 Horne Place Port Wentworth, GA.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Three income‑producing units: 2‑bedroom, 2‑bath main house plus two furnished studio apartments; 2,450 SF total with 0.217‑acre lot; Main house approx. 1,450 SF; each studio approx. 500 SF
