Duplex Renovation
For Sale
$174,999
2144 Central Ave, Augusta, GA 30904
1921 property requiring comprehensive renovation, with potential for multifamily restoration or other approved use.
Property Size1,526 SF
Price / SF$114.68
Days on Market43
Property Features for 2144 Central Ave
General Information
Standard status
Active
Size
1,526 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
deferred maintenance
Additional Details
Multifamily Units
2
Building Details
Year Built
1921
Listing Agency:
Rockbear Realty
(252) 355-6000
Listed By:
Emily McAllister
(252) 355-6000
Source:
Emilysellsgreenvillenc
Added: Jul 19
Changed: Aug 27
Last Checked: Aug 29 at 8:58AM
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 Rockbear Realty
Investment Insights
Based on property information with market context.
Built in 1921, this duplex property at 2144 Central Ave includes 1,526 of reported property size and requires comprehensive renovation due to substantial deferred maintenance. The asset previously operated as an income-producing duplex and may be restored for multifamily use or reconfigured as a single-family residence, subject to applicable zoning and governmental approvals.
The property is situated between Augusta University's Summerville Campus and the downtown Health Sciences and Georgia Cyber Center districts. An alternative business or professional use may also be evaluated, subject to the same approval requirements.
The property is situated between Augusta University's Summerville Campus and the downtown Health Sciences and Georgia Cyber Center districts. An alternative business or professional use may also be evaluated, subject to the same approval requirements.
Key Highlights
- Previously operated as an income‑producing duplex
- 1,526 reported property size
- Built in 1921
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
$14,966
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
8.55%
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%
$299,320
$299.3K
Cap Rate 7%
$213,800
$213.8K
Cap Rate 9%
$166,289
$166.3K
Market Conditions
NOI Build-Up for 1,526 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
$23.3K $15.24/SF
− Vacancy
−$1.9K −$1.23/SF
EGI
$21.4K $14.01/SF
− OpEx
−$6.4K −$4.20/SF
NOI
$15.0K $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%
$299,320
Cap Rate 7%
$213,800
Cap Rate 9%
$166,289
Alternative Uses
Best Use
Multifamily LT 5
$213.8K
$187.1K – $249.4K
NOI $14,966 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$197.5K
$172.8K – $230.4K
NOI $13,823 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$481.7K
$421.5K – $562.0K
NOI $33,717 @ 7.0% cap · market cap 19.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
934
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 - 1921 property requiring comprehensive renovation, with potential for multifamily restoration or other approved use.
Where is this duplex located?
The property is located at 2144 Central Ave Augusta, GA.
What is the asking price?
The asking price for this property is $174,999.
What are key features of this property?
This property features: Previously operated as an income‑producing duplex; 1,526 reported property size; Built in 1921
