Updated Two-Unit
New
For Sale
$294,000
260 Park Ridge Dr, Athens, GA 30605
Single-level residences offer two-bedroom layouts, private bathrooms, and access to a spacious outdoor area.
Property Size1,768 SF
Price / SF$166.29
Days on Market3
Property Features for 260 Park Ridge Dr
General Information
Standard status
Active
Size
1,768 SF
Property subtype
Multi-Family
Building Details
Year Built
1979
Listing Agency:
Greater Athens Properties
Listed By:
Rich Xu · License #377121
(706) 255-0316
Source:
Wadehouse
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 7:21PM
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 residences within 1,768 square feet, with each unit arranged on one level and offering 2 bedrooms and 1 bathroom. The property was built in 1979 and includes a new roof, one new HVAC system, and multiple upgrades completed in recent years. A large yard provides substantial outdoor space for the occupants.
Both units are currently leased on month-to-month terms, offering an existing rental arrangement with lease flexibility. Located at 260 Park Ridge Dr in Athens, GA, the property presents a straightforward two-unit configuration for residential income ownership.
Both units are currently leased on month-to-month terms, offering an existing rental arrangement with lease flexibility. Located at 260 Park Ridge Dr in Athens, GA, the property presents a straightforward two-unit configuration for residential income ownership.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- 1,768 SF property built in 1979
- Single‑level layouts 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
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 residences offer two-bedroom layouts, private bathrooms, and access to a spacious outdoor area.
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 in each unit; 1,768 SF property built in 1979; Single‑level layouts in both residences
