Triplex Residential Income
For Sale
$180,000
1702 40th Street, Columbus, GA 31904
Residential Income, Columbus, GA
Property Size1,804 SF
Lot Size0.26 Acres
Price / SF$99.78
Days on Market56
Property Features for 1702 40th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 2, Bedroom 2
Subdivision
Crestview
Lot features
Less than 1/2 Acre
Directions
From I-185 Take Exit 7 Manchester Expressway Toward Columbus. Turn Left Onto 17th Avenue, Then Left Onto 40th Street. House Is On Your Right.
Standard status
Active
APN
031 035 001
Size
1,804 SF
Lot size
0.26 Acres
Utilities
Sewer type
Public Sewer
Heating system
See Remarks (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1946
Number of units
3
Flooring type
Laminate
Building materials
Brick
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Carson Paris · License #117970
(706) 587-9990
Added: Jul 5
Changed: Aug 27
Last Checked: Aug 29 at 11:06AM
MLS# 232785
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 for-sale triplex is a residential income property configured as three separate dwelling units on a single parcel. The property size is listed at 1,804 square feet, with a total lot size of 0.26 acres. The listing identifies it as a multifamily/residential income asset, which can be suitable for buyers seeking an owner-occupied or income-generating residential setup.
The property is located at 1702 40th Street in Columbus, Georgia 31904, in Muscogee County. For prospective tenants and buyers, the single-address format can simplify property management and unit access compared with scattered multifamily locations.
From a use standpoint, this triplex may appeal to investors evaluating small-balance residential income opportunities, as well as owner-occupants looking to live in one unit while renting the others. The compact footprint and defined parcel support practical ownership and day-to-day handling of the asset. Interested parties should review unit layout and condition details directly with the seller or listing broker, as those specifics are not provided in the available summary.
The property is located at 1702 40th Street in Columbus, Georgia 31904, in Muscogee County. For prospective tenants and buyers, the single-address format can simplify property management and unit access compared with scattered multifamily locations.
From a use standpoint, this triplex may appeal to investors evaluating small-balance residential income opportunities, as well as owner-occupants looking to live in one unit while renting the others. The compact footprint and defined parcel support practical ownership and day-to-day handling of the asset. Interested parties should review unit layout and condition details directly with the seller or listing broker, as those specifics are not provided in the available summary.
Key Highlights
- Brick construction
- Laminate flooring
- Window unit cooling
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
$16,351
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%
$327,020
$327.0K
Cap Rate 7%
$233,586
$233.6K
Cap Rate 9%
$181,678
$181.7K
Market Conditions
NOI Build-Up for 1,804 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
$24.9K $13.80/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$23.4K $12.95/SF
− OpEx
−$7.0K −$3.88/SF
NOI
$16.4K $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%
$327,020
Cap Rate 7%
$233,586
Cap Rate 9%
$181,678
Alternative Uses
Best Use
Multifamily LT 5
$233.6K
$204.4K – $272.5K
NOI $16,351 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$206.7K
$180.9K – $241.2K
NOI $14,472 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$403.6K
$353.2K – $470.9K
NOI $28,255 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
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?
Triplex - Residential income triplex for sale, offering multiple units within a compact lot in Columbus, Georgia.
Where is this triplex located?
The property is located at 1702 40th Street Columbus, GA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Brick construction; Laminate flooring; Window unit cooling
