Tenant-Occupied Duplex in
For Sale
$725,000
Pending
332 Lockwood Terrace, Decatur, GA 30030
MULTI_FAMILY - Decatur, GA
Property Size2,000 SF
Lot Size0.38 Acres
Days on Market144
Property Features for 332 Lockwood Terrace
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
2
Parking features
Off Street
Elementary school
Glennwood
Middle school
Beacon Hill
High school
Decatur
Directions
Ga-10 E/John Lewis Freedom Pkwy NE, right on Ponce De Leon Ave NE, continue straight to Scott Blvd, right on N Decatur Rd, right on Church St, left on Sycamore Dr, left on Fairview St, right on Lockwood Terrace
Standard status
Pending
APN
18 007 05 137
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3392
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Building materials
Wood Siding
Listing Agency:
Duffy Realty
(678) 318-3613
Listed By:
Rhonda Duffy · License #177871
(678) 318-3613
Added: Mar 10
Changed: Jul 10
Last Checked: Jul 31 at 10:06AM
MLS# 10707304
Copyright © 2026 Georgia Multiple Listing Service. 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.
Located in Decatur, this tenant-occupied duplex at 332 Lockwood Terrace offers immediate income potential. Each of the two units features 2 bedrooms and 1.5 baths within approximately 1,000 square feet. The property is suited for investors seeking rental income or owner-occupants. Recent enhancements include new water heaters in both units, fresh exterior paint, refurbishment of Unit B, and landscaping. Each unit has its own private driveway and a large yard. The property is conveniently located for commuting into Downtown Atlanta and offers easy MARTA access. Downtown Decatur's restaurants, shops, and local events are nearby, along with 10 parks, 3 public pools, and a farmer's market 2 miles away. With no HOA and no rent restrictions, this property offers flexibility for investors and owner-occupants. The 0.38-acre lot is located in DeKalb County. The property is positioned for both lifestyle and long-term value with tenants in place and top-rated schools nearby. The current renters are paying below market value.
Key Highlights
- Tenant‑occupied duplex provides instant rental income.
- No HOA and no rental restrictions offer flexibility.
- Separate driveways and large yards for each unit.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.4k | $22.20 |
| − Vacancy | −$2.9k | −$1.44 |
| EGI | $41.5k | $20.76 |
| − OpEx | −$12.5k | −$6.23 |
| NOI | $29.1k | $14.53 |
2,000 SF · lease $22.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.3K – $484.3K
NOI $29,060 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$383.8K
$335.9K – $447.8K
NOI $26,868 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$559.1K
$489.2K – $652.3K
NOI $39,135 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,358
Businesses Nearby
Explore this area
Business Placement
Demographics for 30030, GA
32,364
Population
14,672
Households
2.2
Avg Household Size
39
Median Age
77%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
4,830
Density / Sq Mi
$127,318
Median Household Income
$81,712
Median Earnings
$1,683
Median Rent
$598,400
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 - Duplex with instant income potential, no HOA, and rent restrictions.
Where is this duplex located?
The property is located at 332 Lockwood Terrace Decatur, GA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Tenant‑occupied duplex provides instant rental income.; No HOA and no rental restrictions offer flexibility.; Separate driveways and **large yards for each unit**.
