Brick Quadplex With Recent
New
For Sale
$469,000
1504 Heard Avenue Abcd, Augusta, GA 30904
Two brick duplexes share one lot, with interiors updated in 2023 and a roof less than two years old.
Property Size3,360 SF
Price / SF$139.58
Days on Market2
Property Features for 1504 Heard Avenue Abcd
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Building Details
Year Built
1979
Listing Agency:
Keller Williams Realty Augusta Partners
Listed By:
Sherman Burnett · License #380592
(706) 466-6949
Source:
Barefootbrokers
Added: Sep 5
Last Checked: Aug 25 at 4:04AM
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 Keller Williams Realty Augusta Partners
Investment Insights
Based on property information with market context.
This quadplex consists of two brick duplexes on the same lot, providing four residential units within approximately 3,360 square feet. The property was built in 1979 and includes central air, electric forced-air heating, slab construction, composition roofing, and front porch areas.
Both properties received interior updates in 2023, while the roof is less than two years old. The address is 1504 Heard Avenue, Unit ABCD, Augusta, GA 30904, in a residential-zoned setting.
Both properties received interior updates in 2023, while the roof is less than two years old. The address is 1504 Heard Avenue, Unit ABCD, Augusta, GA 30904, in a residential-zoned setting.
Key Highlights
- Four‑unit configuration with two brick duplexes on one lot
- Approximately 3,360 square feet of property size
- Interiors of both properties updated in 2023
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
$32,952
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
7.03%
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%
$659,040
$659.0K
Cap Rate 7%
$470,743
$470.7K
Cap Rate 9%
$366,133
$366.1K
Market Conditions
NOI Build-Up for 3,360 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
$51.2K $15.24/SF
− Vacancy
−$4.1K −$1.23/SF
EGI
$47.1K $14.01/SF
− OpEx
−$14.1K −$4.20/SF
NOI
$33.0K $9.81/SF
Area
Augusta, GA
Vacancy
8.07%
Lease Rate
$15.24 /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%
$659,040
Cap Rate 7%
$470,743
Cap Rate 9%
$366,133
Alternative Uses
Best Use
Multifamily LT 5
$470.7K
$411.9K – $549.2K
NOI $32,952 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$434.8K
$380.5K – $507.3K
NOI $30,437 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$1.06M
$928.0K – $1.24M
NOI $74,238 @ 7.0% cap · market cap 15.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
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?
Quadplex - Two brick duplexes share one lot, with interiors updated in 2023 and a roof less than two years old.
Where is this quadplex located?
The property is located at 1504 Heard Avenue Abcd Augusta, GA.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Four‑unit configuration with two brick duplexes on one lot; Approximately 3,360 square feet of property size; Interiors of both properties updated in 2023
