Brick Duplex with New
For Sale
$165,000
1524 18th St, Columbus, GA 31901
Tenant-occupied income property with updated HVAC systems and a two-bedroom, one-bedroom unit mix.
Property Size1,408 SF
Price / SF$117.19
Days on Market78
Property Features for 1524 18th St
General Information
Standard status
Active
Size
1,408 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$20,520
Building Details
Construction
brick
Tenancy
Multi
Listing Agency:
Normand Real Estate, LLC
(706) 395-5424
Listed By:
Dana Carfrey
(706) 662-9128
Source:
Exprealty
Added: Aug 3
Changed: Oct 7
Last Checked: Oct 19 at 7:25AM
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 Normand Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 1,408-square-foot brick duplex contains two separately configured units: one offers 2 BR and 1 BA, while the other includes 1 BR and 1 BA. Both residences are occupied by established tenants, with tenancies of 20 years and 18 years. Recent property improvements include new HVAC systems serving both units and a new roof.
The property is located at 1524 18th St in Columbus, GA, within the Midtown area and a short distance from Lakebottom Park. Water service is provided by the landlord subject to a monthly allowance. The duplex may also be acquired with nearby rental properties at 1025 17th St, 1028 17th St, and 1102 17th St. Tenant privacy should be respected; do not disturb occupants.
The property is located at 1524 18th St in Columbus, GA, within the Midtown area and a short distance from Lakebottom Park. Water service is provided by the landlord subject to a monthly allowance. The duplex may also be acquired with nearby rental properties at 1025 17th St, 1028 17th St, and 1102 17th St. Tenant privacy should be respected; do not disturb occupants.
Key Highlights
- 1,408 SF brick duplex with a new roof
- Unit A: 2 BR, 1 BA; Unit B: 1 BR, 1 BA
- New HVAC systems in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,762
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied income property with updated HVAC systems and a two-bedroom, one-bedroom unit mix.
Where is this duplex located?
The property is located at 1524 18th St 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 SF brick duplex with a new roof; Unit A: 2 BR, 1 BA; Unit B: 1 BR, 1 BA; New HVAC systems in both units
