Duplex with Updated Rear
For Sale
$210,000
1926 Howard Ave, Augusta, GA 30904
Fully leased two-unit property combines a three-bedroom main residence with a separate apartment featuring a kitchenette.
Property Size1,713 SF
Price / SF$122.59
Days on Market36
Property Features for 1926 Howard Ave
General Information
Standard status
Active
Size
1,713 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
Keller Williams Realty Augusta Partners
(770) 366-3460
Listed By:
Jaime Powell · License #421780
Source:
Bradberrygarnerrealestate
Added: Jul 26
Changed: Aug 29
Last Checked: Aug 29 at 11:57PM
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 Keller Williams Realty Augusta Partners
Investment Insights
Based on property information with market context.
Built in 1926, this 1,713-square-foot duplex is arranged with a three-bedroom, two-bathroom main residence and a detached rear apartment. The secondary unit includes one bedroom, a full bathroom, and a kitchenette, creating a distinct additional living space within the property. The rear apartment has updated electrical service, including a new panel, along with a new roof. The duplex is fully leased.
The property is positioned near Augusta University, MCG, area hospitals, downtown Augusta, and Fort Gordon. Its layout provides two separate residential components while retaining the established character of an older construction date.
The property is positioned near Augusta University, MCG, area hospitals, downtown Augusta, and Fort Gordon. Its layout provides two separate residential components while retaining the established character of an older construction date.
Key Highlights
- 1713 SF duplex built in 1926
- Main residence has 3 bedrooms and 2 bathrooms
- Separate rear apartment with 1 bedroom, full bathroom, and kitchenette
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
$16,800
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
8.00%
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%
$336,000
$336.0K
Cap Rate 7%
$240,000
$240.0K
Cap Rate 9%
$186,667
$186.7K
Market Conditions
NOI Build-Up for 1,713 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
$26.1K $15.24/SF
− Vacancy
−$2.1K −$1.23/SF
EGI
$24.0K $14.01/SF
− OpEx
−$7.2K −$4.20/SF
NOI
$16.8K $9.81/SF
Area
Augusta, GA
Vacancy
8.07%
Lease Rate
$15.24 /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%
$336,000
Cap Rate 7%
$240,000
Cap Rate 9%
$186,667
Alternative Uses
Best Use
Multifamily LT 5
$240.0K
$210.0K – $280.0K
NOI $16,800 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$221.7K
$194.0K – $258.6K
NOI $15,517 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$540.7K
$473.1K – $630.8K
NOI $37,848 @ 7.0% cap · market cap 18.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
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?
Duplex - Fully leased two-unit property combines a three-bedroom main residence with a separate apartment featuring a kitchenette.
Where is this duplex located?
The property is located at 1926 Howard Ave Augusta, GA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1713 SF duplex built in 1926; Main residence has 3 bedrooms and 2 bathrooms; Separate rear apartment with 1 bedroom, full bathroom, and kitchenette
