Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Albany Duplex Investment Opportunity Title is generated by Realmo AI

    3211 Fernridge Drive, Albany, GA 31721

    View on Map
    Claim this Listing
    Pending
    $203,000

    MULTI_FAMILY - Albany, GA

    Type:Duplex
    Property size:
    2,729 SF
    Lot size:
    0.24 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    36
    Last Refresh:
    May 21 at 11:06 pm

    Property Features for 3211 Fernridge Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 4, Bedroom 6, Bedroom 4, Laundry Room, Bathroom 1, Dining Room, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 5, Bedroom 3, Bathroom 3, Family Room
    Window features
    Blinds
    Patio and Porch features
    Patio
    Interior features
    Kitchen Island, Open Floor Plan
    Exterior features
    Patio Open, Fenced Back Yard
    Fencing
    Back Yard
    Appliances
    Dishwasher, Refrigerator Icemaker, Stove/Oven Electric
    Standard status
    Pending
    APN
    00348/00020/025
    Size
    2,729 SF
    Lot size
    0.24 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lot 25 Whisperwood Home Dougherty County,Deed Book1355,page293
    Tax Annual Amount
    2665

    Utilities

    Utilities
    Cable Available

    Building Details

    Year built
    1993
    Floors in Building
    1
    Flooring type
    Tile - Ceramic
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Molly Swan
    Molly Swan

    Listing agent Molly Swan License #S128044

    Listing office RE/MAX OF ALBANY 1819 Dawson Road, Albany, GA

    Listing date Apr 17, 2026

    MLS# 168950 Listing URL

    Copyright © 2026 Albany Board of Realtors and Southwest 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.

    HighLights

    • Duplex property ideal for investment
    • Located in a desirable, low‑traffic area
    • Each unit features tile flooring throughout for easy maintenance
    • Fenced backyards provide a secure play area
    • Vaulted ceiling in Family Room
    • Includes essential appliances: Dishwasher, Refrigerator with Icemaker, and Electric Stove/Oven

    Overview

    This multifamily duplex property is located in Albany, Georgia. The property offers an investment opportunity in a desirable location. Each side of the duplex features tile flooring and ceiling fans. The property includes backyards with fenced areas. The A side rent roll is $1050, and the B side is $950. The property size is 2729 square feet and is situated on a 0.24-acre lot. The family room features a vaulted ceiling. Some appliances have been recently replaced.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $200.3K
    NOI $18,024 @ 9.00% cap · cautious / downside scenario
    Moderate
    $257.5K
    NOI $18,024 @ 7.00% cap · market / base-case scenario
    Aggressive
    $360.5K
    NOI $18,024 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $27.8k $10.20
    − Vacancy −$2.1k −$0.77
    EGI $25.7k $9.44
    − OpEx −$7.7k −$2.83
    NOI $18.0k $6.60
    2,729 SF · lease $10.20/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $257.5K
    $225.3K – $300.4K (±1% cap)
    NOI $18,024 @ 7.0% cap · market cap 8.88%
    Second Best
    Apartment 5plus
    $238.8K
    $208.9K – $278.6K (±1% cap)
    NOI $16,715 @ 7.0% cap · market cap 8.23%
    Theoretical Best
    Office A
    $537.1K
    $469.9K – $626.6K (±1% cap)
    NOI $37,595 @ 7.0% cap · market cap 18.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Pharmacy Big Box & Wholesale Store Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albany
    County
    Dougherty
    State
    Georgia
    Longitude
    -84.2331999
    Latitude
    31.5894328

    Nearby Similar for Sale

    • $1,150,000
      11,400 SF

      Albany Office Building on 5.5 Acres

      Large one-level office building in northwest Albany with ample parking.
      3005 Old Dawson Road, Albany, GA 31721
      View Details
    • $699,999
      1,942 SF

      Restaurant Opportunity on Oglethorpe Boulevard

      Restaurant with drive-thru, equipment, and parking on busy highway.
      1716 E Oglethorpe blvd, Albany, GA 31705
      View Details
    • $1,200,000
      10,428 SF

      Albany Commercial Strip For Sale

      Prime commercial strip with leasing opportunities and high traffic exposure.
      2820 Meredyth Dr, Albany, GA 31707
      View Details
    • $325,000
      2,822 SF

      Restored Albany Commercial Building

      Two-story brick building suitable for office, medical, or professional use.
      410 Society Avenue W, Albany, GA 31701
      View Details
    • $169,900
      1,962 SF

      Versatile Commercial Property in Albany

      Well-suited commercial property with recent updates and flexible layout.
      700 Slappey Blvd N, Albany, GA 31707
      View Details
    • $599,900
      1,390 SF

      Prime Albany Commercial Corner Lot

      Established auto dealership, ideal for redevelopment or continued use.
      1307 Slappey Blvd N, Albany, GA 31707
      View Details
    • $325,000
      4,478 SF

      Albany Office/Meeting Space For Sale

      4,478 SF mixed-use commercial space in growing historical district.
      310 Tift Avenue, Albany, GA 31701
      View Details
    • $205,000
      2,041 SF

      Turn-Key Day Care Center

      Profitable day care center ready for its next owner.
      1002 Tenth Ave, Albany, GA 31701
      View Details
    • $1,495,000
      8,050 SF

      Remodeled Commercial Building, High Visibility

      Remodeled 8,300 SF commercial building on high-traffic corner.
      1600 E Oglethorpe Blvd, Albany, GA 31705
      View Details
    • $99,000
      2,520 SF

      Versatile Commercial Building in Albany

      2,520 SF commercial building suitable for various business types.
      1007 S Madison Street, Albany, GA 31701
      View Details
    • $695,745
      2,860 SF

      Albany Commercial Property with Trucking Potential

      22-acre commercial property with office, shop, and fuel island.
      1905 Radium Springs Road, Albany, GA 31705
      View Details
    • $549,000
      27,938 SF

      Albany Warehouse on Broad Avenue

      27,938 SF warehouse on 1.75 acres for sale.
      233 E Broad Ave, Albany, GA 31705
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex in a desirable location, ideal for investment.
    Where is this duplex located?
    The property is located at 3211 Fernridge Drive Albany, GA.
    What is the asking price?
    The asking price for this property is $203,000.
    What are key features of this property?
    This property features: Duplex property ideal for investment; Located in a desirable, low‑traffic area; Each unit features tile flooring throughout for easy maintenance
    (229) 344-2268
    We can help!
    Listing Contact
    Molly Swan
    Molly Swan
    Real Estate License ID: S128044
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3211 Fernridge Drive, Albany, GA 31721
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!