Two-Unit Townhouse-Style
For Sale
$399,999
163 VFW Drive, Watkinsville, GA 30677
Residential Income, Watkinsville, GA
Property Size2,496 SF
Price / SF$160.26
Days on Market10
Property Features for 163 VFW Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
6
Full bathrooms
6
Half bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 6, Bathroom 2
Patio and Porch features
Deck
Interior features
Ceiling Fan(s), Fireplace
Exterior features
Deck
Fireplace
1
Appliances
Some Electric Appliances, Some Gas Appliances, Dishwasher, Gas Water Heater, Microwave, Oven, Range, Dryer, Refrigerator, Washer
Directions
From downtown Watkinsville, take Experiment Station Road toward Harris Shoals Park. Turn right onto VFW Drive just past Harris Shoals Park. Continue on VFW Drive to 163 VFW Drive; property will be on the right.
Standard status
Active
APN
B 06G 003G
Size
2,496 SF
Taxes and HOA fees
Tax Description
1384/353 713/61 25/294 ; CEDAR HILLS
Legal Description
1384/353 713/61 25/294 ; CEDAR HILLS
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Number of units
2
Flooring type
Carpet
Building materials
Frame, Wood Siding
Roof type
Asphalt
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Joiner & Associates, REALTORS
(706) 549-7371
Listed By:
Borentai Robinson
(706) 612-6137
Added: Sep 23
Changed: Sep 29
Last Checked: Oct 2 at 5:06AM
MLS# CL365505
Copyright © 2026 Hive MLS. 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 duplex contains two townhouse-style residences totaling 2,496 square feet. Each unit has two bedrooms and two-and-a-half bathrooms, with living space on the main level and bedrooms upstairs. The property was built in 1981 and includes decks, ceiling fans, and fireplaces. Central heating and air conditioning serve the units, and the homes have a mix of electric and gas appliances.
The property is in Watkinsville, near downtown, shopping, dining, schools, and major roadways. Both units are occupied through mid-July 2027.
The property is in Watkinsville, near downtown, shopping, dining, schools, and major roadways. Both units are occupied through mid-July 2027.
Key Highlights
- Two townhouse‑style units, each with 2 bedrooms and 2.5 bathrooms
- 2,496 square feet total
- Both units occupied through mid‑July 2027
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
$30,311
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
7.58%
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%
$606,220
$606.2K
Cap Rate 7%
$433,014
$433.0K
Cap Rate 9%
$336,789
$336.8K
Market Conditions
NOI Build-Up for 2,496 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
$45.8K $18.36/SF
− Vacancy
−$2.5K −$1.01/SF
EGI
$43.3K $17.35/SF
− OpEx
−$13.0K −$5.20/SF
NOI
$30.3K $12.14/SF
Area
Oconee County, GA
Vacancy
5.51%
Lease Rate
$18.36 /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%
$606,220
Cap Rate 7%
$433,014
Cap Rate 9%
$336,789
Alternative Uses
Best Use
Multifamily LT 5
$433.0K
$378.9K – $505.2K
NOI $30,311 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$399.0K
$349.2K – $465.6K
NOI $27,933 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$601.7K
$526.5K – $702.0K
NOI $42,120 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
306
Businesses Nearby
Explore this area
Business Placement
Demographics for 30677, GA
20,579
Population
7,797
Households
2.6
Avg Household Size
41
Median Age
55%
College-Educated
97%
High-School Grad
122.2 sq mi
ZIP Area
168
Density / Sq Mi
$103,165
Median Household Income
$49,399
Median Earnings
$1,403
Median Rent
$394,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, two-and-a-half bathrooms, and living areas arranged across two levels.
Where is this duplex located?
The property is located at 163 VFW Drive Watkinsville, GA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two townhouse‑style units, each with 2 bedrooms and 2.5 bathrooms; 2,496 square feet total; Both units occupied through mid‑July 2027
