Updated Two-Unit
For Sale
$294,000
260 Park Ridge Dr, Athens, GA 30605
Single-level two-bedroom residences with outdoor yard space and recent property improvements.
Property Size1,768 SF
Price / SF$166.29
Days on Market171
Property Features for 260 Park Ridge Dr
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Multi Family Home
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
large yard
Building Details
Building Size
1,768 SF
Year Built
1979
Stories
1
Listing Agency:
Greater Athens Properties
(706) 255-0316
Listed By:
Rich Xu · License #377121
(706) 255-0316
Source:
Frankerealproperties
Added: Mar 13
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Greater Athens Properties
Investment Insights
Based on property information with market context.
This duplex contains two separately occupied residences within a 1,768-square-foot property built in 1979. Each unit provides two bedrooms and one bathroom on a single level, with practical layouts suited to residential occupancy. Recent work includes a new roof, one new HVAC system, and multiple upgrades completed in recent years. The property also includes a substantial yard with outdoor space for residents.
Located at 260 Park Ridge Dr in Athens, GA 30605, the property offers an established two-unit configuration. Both residences are currently rented under month-to-month leases, providing existing occupancy and lease flexibility for a future owner.
Located at 260 Park Ridge Dr in Athens, GA 30605, the property offers an established two-unit configuration. Both residences are currently rented under month-to-month leases, providing existing occupancy and lease flexibility for a future owner.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,768‑square‑foot property built in 1979
- Single‑level floor plans in both residences
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
$21,470
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
7.30%
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%
$429,400
$429.4K
Cap Rate 7%
$306,714
$306.7K
Cap Rate 9%
$238,556
$238.6K
Market Conditions
NOI Build-Up for 1,768 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
$32.5K $18.36/SF
− Vacancy
−$1.8K −$1.01/SF
EGI
$30.7K $17.35/SF
− OpEx
−$9.2K −$5.20/SF
NOI
$21.5K $12.14/SF
Area
Athens, GA
Vacancy
5.51%
Lease Rate
$18.36 /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%
$429,400
Cap Rate 7%
$306,714
Cap Rate 9%
$238,556
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.4K – $357.8K
NOI $21,470 @ 7.0% cap · market cap 7.30%
Second Best
Apartment 5plus
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 10.15%
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
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 30605, GA
43,205
Population
18,387
Households
2.3
Avg Household Size
28
Median Age
53%
College-Educated
91%
High-School Grad
38.2 sq mi
ZIP Area
1,131
Density / Sq Mi
$48,188
Median Household Income
$24,933
Median Earnings
$1,104
Median Rent
$279,200
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 - Single-level two-bedroom residences with outdoor yard space and recent property improvements.
Where is this duplex located?
The property is located at 260 Park Ridge Dr Athens, GA.
What is the asking price?
The asking price for this property is $294,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,768‑square‑foot property built in 1979; Single‑level floor plans in both residences
