Brick Quadplex with
For Sale
$549,000
Pending
1620 Springer Street, Columbus, GA 31901
Residential Income, Columbus, GA
Property Size4,195 SF
Lot Size0.26 Acres
Days on Market84
Property Features for 1620 Springer Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bedroom 4, Bedroom 7, Bathroom 1, Bathroom 6, Bedroom 2, Bathroom 5, Bathroom 4, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Parking features
Carport
Subdivision
No Subdivision
Lot features
Less than 1/2 Acre
Directions
East On Springer St, House In On The Left.
Standard status
Pending
APN
027 028 010
Size
4,195 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1943
Number of units
4
Building materials
Brick
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Morgan Scarbrough · License #407179
(706) 566-0101
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 31 at 9:06AM
MLS# 230422
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.
Built in 1943, this brick quadplex contains 4,195 square feet across four residential units. The property includes carport parking and sits on a 0.26-acre lot. Public water and public sewer serve the improvements.
Located at 1620 Springer Street in Columbus, the property is one block from Lakebottom Park and within the historic Weracoba park district. Midtown amenities are nearby, providing established neighborhood surroundings for a multifamily asset.
The unit layout includes seven bedrooms and six bathrooms, with the room data also identifying six additional bathrooms and one additional bedroom entry. The property supports either continued rental use or an owner-occupant strategy, as described for the four-unit configuration.
Located at 1620 Springer Street in Columbus, the property is one block from Lakebottom Park and within the historic Weracoba park district. Midtown amenities are nearby, providing established neighborhood surroundings for a multifamily asset.
The unit layout includes seven bedrooms and six bathrooms, with the room data also identifying six additional bathrooms and one additional bedroom entry. The property supports either continued rental use or an owner-occupant strategy, as described for the four-unit configuration.
Key Highlights
- Quadplex with 4,195 square feet of building area
- 0.26‑acre lot at 1620 Springer Street, Columbus, GA 31901
- Built in 1943 with brick construction
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
$38,023
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
6.93%
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%
$760,460
$760.5K
Cap Rate 7%
$543,186
$543.2K
Cap Rate 9%
$422,478
$422.5K
Market Conditions
NOI Build-Up for 4,195 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
$57.9K $13.80/SF
− Vacancy
−$3.6K −$0.85/SF
EGI
$54.3K $12.95/SF
− OpEx
−$16.3K −$3.88/SF
NOI
$38.0K $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%
$760,460
Cap Rate 7%
$543,186
Cap Rate 9%
$422,478
Alternative Uses
Best Use
Multifamily LT 5
$543.2K
$475.3K – $633.7K
NOI $38,023 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$480.8K
$420.7K – $560.9K
NOI $33,654 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$938.6K
$821.3K – $1.10M
NOI $65,705 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,442
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units support rental operations or an owner-occupant arrangement in Columbus’s Midtown area.
Where is this quadplex located?
The property is located at 1620 Springer Street Columbus, GA.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Quadplex with 4,195 square feet of building area; 0.26‑acre lot at 1620 Springer Street, Columbus, GA 31901; Built in 1943 with brick construction
