Brick Four-Bedroom
For Sale
$95,000
1508 N Van Buren Street, Albany, GA 31701
Residential, Duplex, Albany, GA
Property Size1,260 SF
Lot Size0.08 Acres
Price / SF$75.40
Days on Market110
Property Features for 1508 N Van Buren Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1
Interior features
Needs Work
Subdivision
Rawson Park
Lot features
Paved Road
Directions
From REMAX of Albany Head east on Dawson Rd (US-19 BUS S). Turn left onto N Monroe St (US-19 BUS S). Take an immediate left onto W 3rd Ave. Turn right onto N Van Buren St. 1508 N Van Buren St will be on the right.
Standard status
Active
APN
000FF/00009/018
Size
1,260 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Same as described in deed book 4971 page 340
Tax Annual Amount
885
Legal Description
Same as described in deed book 4971 page 340
Building Details
Year built
1951
Floors in Building
2
Flooring type
Plank, Laminate
Building materials
Brick
Roof type
Metal
Architectural style
Other
Listing Agency:
RE/MAX OF ALBANY · RE/MAX International
(229) 434-1600
Listed By:
Kaliah Biggs
(229) 380-6695
Added: May 22
Changed: Sep 5
Last Checked: Sep 8 at 9:06PM
MLS# 169210
Copyright © 2026 Albany Board of Realtors and Southwest Georgia 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.
This duplex at 1508 N Van Buren Street contains 1,260 square feet on a 0.08-acre lot. The room layout includes four bedrooms and two bathrooms, with plank and laminate flooring throughout the interior. Brick construction, a metal roof, and a 1951 build date define the property's existing improvements. The interior is identified as needing work, offering a renovation project within a residential income-property classification.
The property is located in Albany, Georgia, in Dougherty County, with postal code 31701. Its residential configuration and existing bedroom and bathroom count provide the primary framework for evaluating the asset's future use and rehabilitation scope.
The property is located in Albany, Georgia, in Dougherty County, with postal code 31701. Its residential configuration and existing bedroom and bathroom count provide the primary framework for evaluating the asset's future use and rehabilitation scope.
Key Highlights
- Duplex with 1,260 square feet of building area
- Four‑bedroom, two‑bathroom room layout
- 0.08‑acre lot at 1508 N Van Buren Street
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
$8,322
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
8.76%
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%
$166,440
$166.4K
Cap Rate 7%
$118,886
$118.9K
Cap Rate 9%
$92,467
$92.5K
Market Conditions
NOI Build-Up for 1,260 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
$12.9K $10.20/SF
− Vacancy
−$964 −$0.77/SF
EGI
$11.9K $9.44/SF
− OpEx
−$3.6K −$2.83/SF
NOI
$8.3K $6.60/SF
Area
Dougherty County, GA
Vacancy
7.50%
Lease Rate
$10.20 /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%
$166,440
Cap Rate 7%
$118,886
Cap Rate 9%
$92,467
Alternative Uses
Best Use
Multifamily LT 5
$118.9K
$104.0K – $138.7K
NOI $8,322 @ 7.0% cap · market cap 8.76%
Second Best
Apartment 5plus
$110.2K
$96.5K – $128.6K
NOI $7,717 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$248.0K
$217.0K – $289.3K
NOI $17,358 @ 7.0% cap · market cap 18.27%
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
979
Businesses Nearby
Explore this area
Business Placement
Demographics for 31701, GA
18,133
Population
9,535
Households
1.9
Avg Household Size
39
Median Age
17%
College-Educated
81%
High-School Grad
21.2 sq mi
ZIP Area
855
Density / Sq Mi
$32,902
Median Household Income
$31,489
Median Earnings
$812
Median Rent
$97,400
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?
Duplex - Brick duplex with four bedrooms, two bathrooms, metal roofing, and a layout requiring renovation.
Where is this duplex located?
The property is located at 1508 N Van Buren Street Albany, GA.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: Duplex with 1,260 square feet of building area; Four‑bedroom, two‑bathroom room layout; 0.08‑acre lot at 1508 N Van Buren Street
