Land with Two
150 Old Hwy 138 Fayetteville, GA 30214
150 Old Hwy 138, Fayetteville, GA, 30214
$450,000
For Sale
$450,000
LAND - Fayetteville, GA
Property Size2,516 SF
Lot Size6.30 Acres
Price / SF$178.86
Days on Market146
Property Features for 150 Old Hwy 138
General Information
- Property type
- Land
- Property subtype
- Other
- Vegetation
- Partially Wooded
- Fencing
- Privacy, Fenced
- Standard status
- Active
- APN
- 130501006 & 130501045
- Lot size
- 6.30 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 1167
Utilities
- Utilities
- Cable Available
- Sewer type
- Septic Tank
- Water source
- Well, Private
Building Details
- Additional Structures
- Residence
Listing Agency
Atlanta Communities
(404) 844-4977
1801 Peachtree Street NE #155, Suite 155, Marietta, GA
Listed by
Cristi Palmer · License #369204
(404) 642-1387
Added: Feb 20 Checked: Jul 16 at 7:06 pm
MLS# 10703460
Listing URL
Copyright © 2026 Georgia Multiple Listing Service. 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.
Set on 6.3 acres of partially wooded land, this property includes two separate residences, each serviced by its own septic system. The main home is an approximately 1,700-square-foot residence with four bedrooms and two bathrooms, featuring mid-century character such as classic Pickwick paneling and original pine hardwood floors (currently covered with laminate in some rooms). The layout includes a spacious kitchen with stainless steel appliances and ample cabinetry, a den with a wood-burning fireplace, and a laundry/mudroom overlooking the fenced backyard. Outdoor space features a patio and a second patio area connected by a paver walkway, plus an in-ground fire pit. The main home also has a new water heater.
The second dwelling is a separate 2-bedroom, 1-bath cottage of approximately 816 square feet. It offers its own private gravel driveway for separate access and includes a kitchen with engineered hardwood floors and an original farmhouse sink, along with pantry shelving and stove, plus its own washer and dryer. Recent upgrades include a new electrical box and an exterior meter installed in 2025.
Situated on two corner lots being sold together, the property offers strong road frontage and is described as being located one parcel off the high-visibility intersection of GA Hwy 138 and Hwy 314. The homes draw water from a natural spring water system in place for over 100 years, with recent updates including a new 20-gallon well tank, pressure components, and pump motor setup. A tool shed and additional storage shed support equipment and hobby storage. This flexible configuration can support multi-generational living, guest quarters, or a rental use alongside the main residence.
The second dwelling is a separate 2-bedroom, 1-bath cottage of approximately 816 square feet. It offers its own private gravel driveway for separate access and includes a kitchen with engineered hardwood floors and an original farmhouse sink, along with pantry shelving and stove, plus its own washer and dryer. Recent upgrades include a new electrical box and an exterior meter installed in 2025.
Situated on two corner lots being sold together, the property offers strong road frontage and is described as being located one parcel off the high-visibility intersection of GA Hwy 138 and Hwy 314. The homes draw water from a natural spring water system in place for over 100 years, with recent updates including a new 20-gallon well tank, pressure components, and pump motor setup. A tool shed and additional storage shed support equipment and hobby storage. This flexible configuration can support multi-generational living, guest quarters, or a rental use alongside the main residence.
Key Highlights
- 6.3 acres in North Fayette with two homes, offering flexibility for multi‑generational living, rental income, or a private estate.
- Excellent road frontage and visibility on two corner lots near GA Hwy 138 and Hwy 314, presenting potential for future commercial development.
- Separate 2‑bedroom cottage with private driveway, kitchen, laundry, and new electrical box, ideal for in‑law suite or rental income.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.5k | $26.04 |
| − Vacancy | −$4.1k | −$1.61 |
| EGI | $61.5k | $24.43 |
| − OpEx | −$27.7k | −$10.99 |
| NOI | $33.8k | $13.43 |
2,516 SF · lease $26.04/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$482.9K
$422.5K – $563.3K
NOI $33,800 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.3K
$615.4K – $820.5K
NOI $49,232 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Partially wooded 6.3-acre property with two separate homes, each with its own septic system and private access.
Where is this single family property located?
The property is located at 150 Old Hwy 138 Fayetteville, GA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 6.3 acres in North Fayette with two homes, offering flexibility for multi‑generational living, rental income, or a private estate.; Excellent road frontage and visibility on two corner lots near GA Hwy 138 and Hwy 314, presenting potential for future commercial development.; **Separate 2‑bedroom cottage with private driveway, kitchen, laundry, and new electrical box, ideal for in‑law suite or rental income.**
