Triplex with Front
For Sale
$365,000
2220 Queens Way, Augusta, GA 30904
Residential Income, Augusta, GA
Property Size3,071 SF
Lot Size0.25 Acres
Price / SF$118.85
Days on Market119
Property Features for 2220 Queens Way
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R3
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Parking features
On Street
Patio and Porch features
Porch
Interior features
Wash/Dry Connect, Ceiling Fan(s), Blinds/Shades, Eat-in Kitchen
Fireplace
1
Appliances
Electric Oven, Electric Cooktop, Refrigerator, Range, Dishwasher
Subdivision
Summerville
Lot features
Corner Lot
Elementary school
Monte Sano
Middle school
Tutt
High school
Richmond Academy
Directions
Central Ave to Anthony St left on Queens Property on left
Standard status
Active
APN
0441184000
Size
3,071 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
3E1223 - 3E1223 MCDOWELL ST_KINGS WAY
Tax Annual Amount
3791
Legal Description
3E1223 - 3E1223 MCDOWELL ST_KINGS WAY
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1908
Floors in Building
2
Number of units
3
Flooring type
Carpet, Wood
Building materials
Wood Siding, Wood Frame
Roof type
Composition
Listing Agency:
Re/max True Advantage
(706) 922-9292
Listed By:
Wendy Denise Daniels · License #SC91300
(770) 715-8805
Added: Jun 1
Changed: Sep 25
Last Checked: Sep 27 at 2:06PM
MLS# 100578214
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 three-unit residential property provides 3071 square feet on a 0.25-acre lot and was built in 1908. The layout includes bedrooms and bathrooms across the units, with eat-in kitchens, washer and dryer connections, ceiling fans, blinds or shades, wood and carpet flooring, and a front porch. Central air, natural-gas forced-air heat, public water, and public sewer serve the property. On-street parking is available, and the building includes a composition roof, wood siding, wood-frame construction, and a fireplace.
Two units are occupied, while the third is open for an owner occupant or a new renter. The property is in Augusta’s Historic Summerville District, less than a mile from Augusta University and the Medical District. R3 zoning applies, with cable service available.
Two units are occupied, while the third is open for an owner occupant or a new renter. The property is in Augusta’s Historic Summerville District, less than a mile from Augusta University and the Medical District. R3 zoning applies, with cable service available.
Key Highlights
- Three‑unit property with 3071 square feet on 0.25 acres
- Two units occupied; third unit available for owner occupancy or rental use
- Built in 1908 with a front porch and fireplace
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
$30,118
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
8.25%
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%
$602,360
$602.4K
Cap Rate 7%
$430,257
$430.3K
Cap Rate 9%
$334,644
$334.6K
Market Conditions
NOI Build-Up for 3,071 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
$46.8K $15.24/SF
− Vacancy
−$3.8K −$1.23/SF
EGI
$43.0K $14.01/SF
− OpEx
−$12.9K −$4.20/SF
NOI
$30.1K $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%
$602,360
Cap Rate 7%
$430,257
Cap Rate 9%
$334,644
Alternative Uses
Best Use
Multifamily LT 5
$430.3K
$376.5K – $502.0K
NOI $30,118 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$397.4K
$347.7K – $463.7K
NOI $27,819 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$969.3K
$848.2K – $1.13M
NOI $67,853 @ 7.0% cap · market cap 18.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,092
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
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
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Frequently Asked Questions
What type of property is this?
Triplex - Two units are occupied, while the third is available for owner occupancy or additional rental use.
Where is this triplex located?
The property is located at 2220 Queens Way Augusta, GA.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three‑unit property with 3071 square feet on 0.25 acres; Two units occupied; third unit available for owner occupancy or rental use; Built in 1908 with a front porch and fireplace
