4-Unit
For Sale
$189,900
2155 Ferguson, Macon, GA 31204
MULTI FAMILY, Macon, GA
Property Size662 SF
Price / SF$286.86
Days on Market52
Property Features for 2155 Ferguson
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Electric Range
Elementary school
Bibb-Taylor
Middle school
Bibb-Miller
High school
Central
Subdivision
Bibb County
Standard status
Active
Size
662 SF
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
guest parking
Building Details
Year built
1972
Floors in Building
1
Number of units
4
Flooring type
Vinyl
Listing Agency:
MAXIMUM ONE PLATINUM REALTORS
(478) 569-1181
Listed By:
Fallon Birch
(757) 971-0032
Added: Aug 5
Changed: Sep 23
Last Checked: Sep 25 at 5:06AM
MLS# 264760
Copyright © 2026 Central Georgia 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 4-unit multifamily property was built in 1972 and includes four residences, each offering two bedrooms and one full bathroom. Unit interiors feature vinyl flooring, electric ranges, central air conditioning, and electric heating. The property is being offered as-is, with guest parking available.
Tenants are currently in place under month-to-month arrangements, allowing an incoming owner to continue the existing occupancy structure. The property is located at 2155 Ferguson in Macon, Georgia, within Bibb County.
Tenants are currently in place under month-to-month arrangements, allowing an incoming owner to continue the existing occupancy structure. The property is located at 2155 Ferguson in Macon, Georgia, within Bibb County.
Key Highlights
- Four units, each with 2 bedrooms and 1 full bathroom
- Built in 1972
- Current tenants in place on month‑to‑month terms
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
$5,982
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
3.15%
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%
$119,640
$119.6K
Cap Rate 7%
$85,457
$85.5K
Cap Rate 9%
$66,467
$66.5K
Market Conditions
NOI Build-Up for 662 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
$9.1K $13.80/SF
− Vacancy
−$590 −$0.89/SF
EGI
$8.5K $12.91/SF
− OpEx
−$2.6K −$3.87/SF
NOI
$6.0K $9.04/SF
Area
Macon, GA
Vacancy
6.46%
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%
$119,640
Cap Rate 7%
$85,457
Cap Rate 9%
$66,467
Alternative Uses
Best Use
Multifamily LT 5
$85.5K
$74.8K – $99.7K
NOI $5,982 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$78.5K
$68.7K – $91.6K
NOI $5,497 @ 7.0% cap · market cap 2.89%
Theoretical Best
Healthcare Medical
$126.7K
$110.8K – $147.8K
NOI $8,866 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 31204, GA
30,512
Population
15,578
Households
2
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
14.6 sq mi
ZIP Area
2,090
Density / Sq Mi
$38,478
Median Household Income
$32,586
Median Earnings
$917
Median Rent
$123,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Tenant-occupied multifamily property with flexible living and income use.
Where is this quadplex located?
The property is located at 2155 Ferguson Macon, GA.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 full bathroom; Built in 1972; Current tenants in place on month‑to‑month terms
