Duplex Property with Detached
For Sale
$299,000
1616 E Park Ave, Valdosta, GA 31602
Two separate residential units with updated major systems, covered parking, storage, and additional space for vehicles.
Property Size3,283 SF
Days on Market49
Property Features for 1616 E Park Ave
General Information
Standard status
Active
Size
3,283 SF
Property subtype
Multi-Family
Building Details
Building Size
3,283 SF
Units
2
Listing Agency:
Coldwell Banker Commercial Premier Real Estate
Listed By:
John Courson · License #342868
(229) 244-3535
Source:
Commercialcafe
Added: Aug 28
Changed: Sep 30
Last Checked: Oct 14 at 8:36PM
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 Coldwell Banker Commercial Premier Real Estate
Investment Insights
Based on property information with market context.
This duplex property includes a 6-bedroom, 3-bath main house and a detached 2-bedroom, 1-bath apartment on 0.75 acres. The apartment has separate metering and is occupied by a long-term tenant. The layout supports leasing both residences, renting rooms in the larger home, or living in one unit while leasing the other, as described in the property information.
Recent improvements include a 1-year-old roof, a 2-year-old HVAC system, electrical updates, and replacement of plumbing beneath the home. Additional site features include a storage building, carport, circular driveway, and extra parking. The property is offered as-is at 1616 E Park Ave in Valdosta, Georgia.
Recent improvements include a 1-year-old roof, a 2-year-old HVAC system, electrical updates, and replacement of plumbing beneath the home. Additional site features include a storage building, carport, circular driveway, and extra parking. The property is offered as-is at 1616 E Park Ave in Valdosta, Georgia.
Key Highlights
- 6‑bedroom, 3‑bath main house plus detached 2‑bedroom, 1‑bath apartment
- 0.75‑acre property with circular driveway and extra parking
- Detached apartment is separately metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,917
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,340
$438.3K
Cap Rate 7%
$313,100
$313.1K
Cap Rate 9%
$243,522
$243.5K
Market Conditions
NOI Build-Up for 3,283 SF
Gross rent
$33.5K $10.20/SF
− Vacancy
−$2.2K −$0.66/SF
EGI
$31.3K $9.54/SF
− OpEx
−$9.4K −$2.86/SF
NOI
$21.9K $6.68/SF
Area
Lowndes County, GA
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$438,340
Cap Rate 7%
$313,100
Cap Rate 9%
$243,522
Alternative Uses
Best Use
Multifamily LT 5
$313.1K
$274.0K – $365.3K
NOI $21,917 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$281.6K
$246.4K – $328.6K
NOI $19,715 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$498.4K
$436.1K – $581.5K
NOI $34,889 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
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 separate residential units with updated major systems, covered parking, storage, and additional space for vehicles.
Where is this duplex located?
The property is located at 1616 E Park Ave Valdosta, GA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 6‑bedroom, 3‑bath main house plus detached 2‑bedroom, 1‑bath apartment; 0.75‑acre property with circular driveway and extra parking; Detached apartment is separately metered
