Duplex With C-3
For Sale
$169,900
1933 George Road, Augusta, GA 30904
Residential Income, Augusta, GA
Property Size1,174 SF
Lot Size0.26 Acres
Price / SF$144.72
Days on Market113
Property Features for 1933 George Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
Subdivision
Gordon Highway
Elementary school
Bayvale
Middle school
Murphy
Directions
From Interstate 20 & U.S. Route 1: Take US-1 S (Deans Bridge Rd) toward Augusta Continue on Deans Bridge Rd for approximately 6-7 miles Turn right onto George Road Continue for about 0.5 miles 1933 George Road will be on your left
Standard status
Active
APN
0713052020
Size
1,174 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
684
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1936
Number of units
2
Building materials
Asbestos, Brick
Listing Agency:
Listwithfreedom.com
(855) 456-4945
Listed By:
Ralph Harvey · License #304715
(855) 456-4945
Added: May 3
Changed: Aug 19
Last Checked: Aug 23 at 1:06AM
MLS# 98257117
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 offers two 1-bedroom by 1-bath units on a 0.26-acre lot, arranged for separate occupancy. The property includes two separate power meters, which supports flexible configuration for rental or reconfiguration.
The property is zoned C-3, allowing for a broader range of potential uses than traditional residential-only development. It is located at 1933 George Road in Augusta, GA 30904, in Richmond County.
With approximately 1,174 square feet total, the building provides a compact income-producing layout while the C-3 zoning offers flexibility for future use and tenant mix.
The property is zoned C-3, allowing for a broader range of potential uses than traditional residential-only development. It is located at 1933 George Road in Augusta, GA 30904, in Richmond County.
With approximately 1,174 square feet total, the building provides a compact income-producing layout while the C-3 zoning offers flexibility for future use and tenant mix.
Key Highlights
- 2BR/2BA on a 0.26‑acre lot (duplex layout with 1BR/1BA on each side)
- Previously configured as a 1/1 duplex with two separate power meters
- C‑3 zoned property offering flexible residential or commercial‑use potential
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
$11,514
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
6.78%
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%
$230,280
$230.3K
Cap Rate 7%
$164,486
$164.5K
Cap Rate 9%
$127,933
$127.9K
Market Conditions
NOI Build-Up for 1,174 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
$17.9K $15.24/SF
− Vacancy
−$1.4K −$1.23/SF
EGI
$16.4K $14.01/SF
− OpEx
−$4.9K −$4.20/SF
NOI
$11.5K $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%
$230,280
Cap Rate 7%
$164,486
Cap Rate 9%
$127,933
Alternative Uses
Best Use
Multifamily LT 5
$164.5K
$143.9K – $191.9K
NOI $11,514 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$151.9K
$132.9K – $177.3K
NOI $10,635 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$370.6K
$324.2K – $432.3K
NOI $25,939 @ 7.0% cap · market cap 15.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
392
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a 0.26-acre lot with two power meters and C-3 zoning for flexible residential or commercial use.
Where is this duplex located?
The property is located at 1933 George Road Augusta, GA.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: 2BR/2BA on a 0.26‑acre lot (duplex layout with 1BR/1BA on each side); Previously configured as a 1/1 duplex with two separate power meters; C‑3 zoned property offering flexible residential or commercial‑use potential
