Three-Bedroom Residential Income
For Sale
$175,000
2505 W Broad St Unit 321, Athens, GA 30606
Recently repainted condo with new bedroom carpeting and exterior upkeep handled through the community association.
Property Size1,410 SF
Price / SF$124.11
Days on Market49
Property Features for 2505 W Broad St Unit 321
General Information
Standard status
Active
Size
1,410 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
1
Building Details
Year Built
1984
Listing Agency:
Greater Athens Properties
Listed By:
Mike Leggett · License #400427
(706) 202-5259
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 6 at 11:21AM
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 1,410-square-foot condominium offers three bedrooms and two full bathrooms within the Rivers Edge community. Built in 1984, the unit has been recently repainted in a neutral palette, while new carpeting has been installed throughout the bedrooms. The layout provides separate room options for household members, guests, or a home office.
Located at 2505 W Broad St Unit 321 in Athens, the property is minutes from UGA, downtown Athens, dining, shopping, and entertainment. Condo living includes exterior upkeep through the community, supporting a lower-maintenance ownership structure.
Located at 2505 W Broad St Unit 321 in Athens, the property is minutes from UGA, downtown Athens, dining, shopping, and entertainment. Condo living includes exterior upkeep through the community, supporting a lower-maintenance ownership structure.
Key Highlights
- Three‑bedroom, two‑bathroom condominium
- 1,410 square feet in Rivers Edge
- Recently repainted throughout in a neutral palette
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
$15,779
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
9.02%
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%
$315,580
$315.6K
Cap Rate 7%
$225,414
$225.4K
Cap Rate 9%
$175,322
$175.3K
Market Conditions
NOI Build-Up for 1,410 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
$30.5K $21.60/SF
− Vacancy
−$1.8K −$1.25/SF
EGI
$28.7K $20.35/SF
− OpEx
−$12.9K −$9.16/SF
NOI
$15.8K $11.19/SF
Area
Athens, GA
Vacancy
5.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
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%
$315,580
Cap Rate 7%
$225,414
Cap Rate 9%
$175,322
Alternative Uses
Best Use
Apartment 5plus
$225.4K
$197.2K – $263.0K
NOI $15,779 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$339.9K
$297.4K – $396.6K
NOI $23,794 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 30606, GA
46,798
Population
22,603
Households
2.1
Avg Household Size
33
Median Age
52%
College-Educated
93%
High-School Grad
30.7 sq mi
ZIP Area
1,524
Density / Sq Mi
$61,397
Median Household Income
$35,854
Median Earnings
$1,222
Median Rent
$332,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Recently repainted condo with new bedroom carpeting and exterior upkeep handled through the community association.
Where is this residential income property located?
The property is located at 2505 W Broad St Unit 321 Athens, GA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Three‑bedroom, two‑bathroom condominium; 1,410 square feet in Rivers Edge; Recently repainted throughout in a neutral palette
