Tenant-Occupied
For Sale
$324,997
280 Rock Island Lane, Ellenwood, GA 30294
Two residential units provide current occupancy with access to transportation, retail, dining, parks, and the regional airport.
Property Size2,168 SF
Price / SF$149.91
Days on Market30
Property Features for 280 Rock Island Lane
General Information
Standard status
Active
Size
2,168 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Listing Agency:
Sovereign Real Estate Group National Corp.
(404) 569-5904
Listed By:
Rock River Realty · License #no data
(404) 569-5904
Source:
Rockriverrealty
Added: Jul 31
Changed: Aug 28
Last Checked: Aug 28 at 10:19AM
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 Sovereign Real Estate Group National Corp.
Investment Insights
Based on property information with market context.
Built in 1985, this duplex contains two 2-bedroom, 2-bathroom residences with 2,168 square feet of combined living space. Each unit includes living areas, bedrooms, and private bathrooms in a practical residential layout. The property is tenant-occupied, providing an existing rental arrangement for an owner seeking a residential income asset.
The property is located near I-675 and I-285, with shopping, dining, parks, and Hartsfield-Jackson Atlanta International Airport in the surrounding area. Its two-unit configuration offers a straightforward addition to a multifamily portfolio or an entry point into residential income ownership.
The property is located near I-675 and I-285, with shopping, dining, parks, and Hartsfield-Jackson Atlanta International Airport in the surrounding area. Its two-unit configuration offers a straightforward addition to a multifamily portfolio or an entry point into residential income ownership.
Key Highlights
- Two 2‑bedroom, 2‑bathroom units
- 2,168 square feet of combined living space
- Tenant‑occupied duplex
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
$29,125
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
8.96%
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%
$582,500
$582.5K
Cap Rate 7%
$416,071
$416.1K
Cap Rate 9%
$323,611
$323.6K
Market Conditions
NOI Build-Up for 2,168 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
$56.5K $26.04/SF
− Vacancy
−$3.5K −$1.61/SF
EGI
$53.0K $24.43/SF
− OpEx
−$23.8K −$10.99/SF
NOI
$29.1K $13.43/SF
Area
DeKalb County, GA
Vacancy
6.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$582,500
Cap Rate 7%
$416,071
Cap Rate 9%
$323,611
Alternative Uses
Best Use
Multifamily LT 5
$450.0K
$393.8K – $525.0K
NOI $31,501 @ 7.0% cap · market cap 9.69%
Second Best
Apartment 5plus
$416.1K
$364.1K – $485.4K
NOI $29,125 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$606.0K
$530.3K – $707.1K
NOI $42,423 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Explore this area
Business Placement
Demographics for 30294, GA
43,552
Population
16,191
Households
2.7
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
32.7 sq mi
ZIP Area
1,332
Density / Sq Mi
$76,731
Median Household Income
$44,075
Median Earnings
$1,622
Median Rent
$233,300
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 - Two residential units provide current occupancy with access to transportation, retail, dining, parks, and the regional airport.
Where is this duplex located?
The property is located at 280 Rock Island Lane Ellenwood, GA.
What is the asking price?
The asking price for this property is $324,997.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bathroom units; 2,168 square feet of combined living space; Tenant‑occupied duplex
