Remodeled Two-Unit
For Sale
$150,000
1540 14th Avenue, Columbus, GA 31901
Residential Income, Columbus, GA
Property Size1,698 SF
Lot Size0.17 Acres
Price / SF$88.34
Days on Market13
Property Features for 1540 14th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1
Parking features
On Street
Patio and Porch features
Deck
Fencing
Fenced
Appliances
Range, Refrigerator
Subdivision
Rosehill
Lot features
Less than 1/2 Acre, Private Backyard
Directions
From 17th Ave, Turn Onto 14th Ave. Unit Is On Your Left Approx Two Blocks Down.
Standard status
Active
APN
027 020 005
Size
1,698 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1903
Number of units
2
Flooring type
Laminate, Carpet
Building materials
Shingle Siding
Listing Agency:
Champions Realty
(706) 596-1339
Listed By:
Donna Gates · License #374543
(706) 393-6237
Added: Sep 8
Changed: Sep 13
Last Checked: Sep 20 at 1:06AM
MLS# 234057
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.
This 1,698-square-foot duplex contains two two-bedroom, one-bath units. Both residences have been updated, with laminate and carpet flooring, electric heat, range and refrigerator appliances, and shingle siding. The property includes a deck, fenced area, and on-street parking.
One unit is currently occupied, while the second is vacant and available for leasing. Both units have received recent approval through the Section 8 program. Built in 1903, the property sits on a 0.17-acre lot and is served by public water and public sewer.
One unit is currently occupied, while the second is vacant and available for leasing. Both units have received recent approval through the Section 8 program. Built in 1903, the property sits on a 0.17-acre lot and is served by public water and public sewer.
Key Highlights
- Two 2‑bedroom/1‑bath units within a 1,698‑square‑foot duplex
- Both units updated and recently approved through the Section 8 program
- One unit occupied; second unit vacant and available for leasing
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
$13,622
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
9.08%
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%
$272,440
$272.4K
Cap Rate 7%
$194,600
$194.6K
Cap Rate 9%
$151,356
$151.4K
Market Conditions
NOI Build-Up for 1,698 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
$26.5K $15.60/SF
− Vacancy
−$1.7K −$1.01/SF
EGI
$24.8K $14.59/SF
− OpEx
−$11.1K −$6.56/SF
NOI
$13.6K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$272,440
Cap Rate 7%
$194,600
Cap Rate 9%
$151,356
Alternative Uses
Best Use
Multifamily LT 5
$219.9K
$192.4K – $256.5K
NOI $15,391 @ 7.0% cap · market cap 10.26%
Second Best
Apartment 5plus
$194.6K
$170.3K – $227.0K
NOI $13,622 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$379.9K
$332.4K – $443.3K
NOI $26,595 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,723
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
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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 - Two updated two-bedroom units offer a practical residential income configuration with one occupied unit and one available for lease.
Where is this duplex located?
The property is located at 1540 14th Avenue Columbus, GA.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two 2‑bedroom/1‑bath units within a 1,698‑square‑foot duplex; Both units updated and recently approved through the Section 8 program; One unit occupied; second unit vacant and available for leasing
