Brick Duplex with New
For Sale
$165,000
1524 18th Street, Columbus, GA 31901
Residential Income, Columbus, GA
Property Size1,408 SF
Lot Size0.16 Acres
Price / SF$117.19
Days on Market49
Property Features for 1524 18th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
Driveway, On Street
Appliances
Range, Refrigerator
Subdivision
East Highland
Lot features
Less than 1/2 Acre
Directions
From 17th Ave Follow The Curve To The Right Onto 18th St, Property Will Be On Your Left.
Standard status
Active
APN
028 046 005
Size
1,408 SF
Lot size
0.16 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1947
Number of units
2
Building materials
Brick
Listing Agency:
Normand Real Estate, LLC
(706) 395-5424
Listed By:
Dana Carfrey
(706) 662-9128
Added: Aug 3
Changed: Sep 13
Last Checked: Sep 20 at 2:06AM
MLS# 233366
Copyright © 2026 Columbus Board of Realtors (GA). 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.
Located at 1524 18th Street in Columbus, Georgia, this brick duplex contains 1,408 square feet and was built in 1947. The unit mix includes one two-bedroom, one-bath residence and one one-bedroom, one-bath residence. Both units are occupied, with tenants in place for 20 years and 18 years, respectively. The property is being sold AS-IS, and tenant privacy should be respected during any visit.
Recent improvements include a new roof and new HVAC systems for both units. Each residence includes a range and refrigerator. Heating is provided by forced air and natural gas, while cooling is central air. The property has driveway and on-street parking, along with public water and public sewer. It is located in Midtown and sits a short distance from Lakebottom Park.
Recent improvements include a new roof and new HVAC systems for both units. Each residence includes a range and refrigerator. Heating is provided by forced air and natural gas, while cooling is central air. The property has driveway and on-street parking, along with public water and public sewer. It is located in Midtown and sits a short distance from Lakebottom Park.
Key Highlights
- 1,408‑square‑foot brick duplex built in 1947
- Unit mix includes 2 BR/1 BA and 1 BR/1 BA residences
- New roof and new HVAC systems serving both units
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
$12,762
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
7.73%
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%
$255,240
$255.2K
Cap Rate 7%
$182,314
$182.3K
Cap Rate 9%
$141,800
$141.8K
Market Conditions
NOI Build-Up for 1,408 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
$19.4K $13.80/SF
− Vacancy
−$1.2K −$0.85/SF
EGI
$18.2K $12.95/SF
− OpEx
−$5.5K −$3.88/SF
NOI
$12.8K $9.06/SF
Area
Columbus, GA
Vacancy
6.17%
Lease Rate
$13.80 /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%
$255,240
Cap Rate 7%
$182,314
Cap Rate 9%
$141,800
Alternative Uses
Best Use
Multifamily LT 5
$182.3K
$159.5K – $212.7K
NOI $12,762 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$161.4K
$141.2K – $188.3K
NOI $11,295 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$315.0K
$275.7K – $367.6K
NOI $22,053 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied two-unit property with new HVAC systems, public utilities, and a two-bedroom/one-bedroom layout.
Where is this duplex located?
The property is located at 1524 18th Street Columbus, GA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: 1,408‑square‑foot brick duplex built in 1947; Unit mix includes 2 BR/1 BA and 1 BR/1 BA residences; New roof and new HVAC systems serving both units
