Updated Duplex with Vacant
For Sale
$294,000
122 Park Ridge Ct, Athens, GA 30605
Two matching residences offer a flexible mix of immediate occupancy and existing tenancy within a manageable income property.
Property Size1,768 SF
Price / SF$166.29
Days on Market54
Property Features for 122 Park Ridge Ct
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$305,000
Amenities
yard
Building Details
Year Built
1979
Buildings
1
Listing Agency:
Greater Athens Properties
(706) 255-0316
Listed By:
Rich Xu · License #377121
Source:
Barefootbrokers
Added: Jul 10
Changed: Aug 31
Last Checked: Aug 31 at 7:53PM
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 Greater Athens Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,768 square feet arranged as two matching units, each with two bedrooms and one bathroom. The property was built in 1979 and has received a new roof and new AC systems. One unit is being remodeled, adding to the recent improvement work.
Unit A is occupied by a long-term tenant, while Unit B is vacant and available for showing. The property also includes a spacious, maintained yard that provides outdoor space for residents and pets. Its two-unit configuration supports either continued rental use or an owner-occupancy arrangement with one residence available for tenancy.
Unit A is occupied by a long-term tenant, while Unit B is vacant and available for showing. The property also includes a spacious, maintained yard that provides outdoor space for residents and pets. Its two-unit configuration supports either continued rental use or an owner-occupancy arrangement with one residence available for tenancy.
Key Highlights
- 1,768 SF duplex with two matching 2‑bedroom, 1‑bath units
- New roof and new AC systems
- Unit A is occupied by a long‑term tenant
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
$21,470
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
7.30%
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%
$429,400
$429.4K
Cap Rate 7%
$306,714
$306.7K
Cap Rate 9%
$238,556
$238.6K
Market Conditions
NOI Build-Up for 1,768 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
$32.5K $18.36/SF
− Vacancy
−$1.8K −$1.01/SF
EGI
$30.7K $17.35/SF
− OpEx
−$9.2K −$5.20/SF
NOI
$21.5K $12.14/SF
Area
Athens, GA
Vacancy
5.51%
Lease Rate
$18.36 /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%
$429,400
Cap Rate 7%
$306,714
Cap Rate 9%
$238,556
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.4K – $357.8K
NOI $21,470 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 10.15%
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
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 30605, GA
43,205
Population
18,387
Households
2.3
Avg Household Size
28
Median Age
53%
College-Educated
91%
High-School Grad
38.2 sq mi
ZIP Area
1,131
Density / Sq Mi
$48,188
Median Household Income
$24,933
Median Earnings
$1,104
Median Rent
$279,200
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 - Two matching residences offer a flexible mix of immediate occupancy and existing tenancy within a manageable income property.
Where is this duplex located?
The property is located at 122 Park Ridge Ct Athens, GA.
What is the asking price?
The asking price for this property is $294,000.
What are key features of this property?
This property features: 1,768 SF duplex with two matching 2‑bedroom, 1‑bath units; New roof and new AC systems; Unit A is occupied by a long‑term tenant
