Renovated Duplex with Leased
For Sale
$180,000
3535 13th Ave, Columbus, GA 31904
Fully updated two-unit property with separate systems, in-place occupancy, and leases extending through 2027.
Property Size1,792 SF
Price / SF$100.45
Days on Market24
Property Features for 3535 13th Ave
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
washer and dryer
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
1st Class Real Estate Excellence
(706) 326-3468
Listed By:
Ashley Miller
(706) 326-3468
Source:
Exprealty
Added: Aug 7
Changed: Aug 22
Last Checked: Aug 29 at 12:51PM
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 1st Class Real Estate Excellence
Investment Insights
Based on property information with market context.
This 1,792 SF duplex in Columbus, Georgia, is configured with one residence at the front and another at the rear. Both units are occupied under leases extending through 2027. Interior improvements include luxury vinyl plank flooring, remodeled kitchens equipped with new appliances, renovated bathrooms, and a washer and dryer in each unit.
The property has a new roof and separate HVAC systems and water heaters serving each residence. The HVAC equipment and water heaters are approximately 1+ years old. Located at 3535 13th Ave, the duplex offers a two-unit residential layout with independent major systems and recent interior and exterior updates.
The property has a new roof and separate HVAC systems and water heaters serving each residence. The HVAC equipment and water heaters are approximately 1+ years old. Located at 3535 13th Ave, the duplex offers a two-unit residential layout with independent major systems and recent interior and exterior updates.
Key Highlights
- 1,792 SF duplex at 3535 13th Ave, Columbus, GA
- Both units occupied with leases in place through 2027
- Front and rear unit configuration provides separation between 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
$16,243
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
9.02%
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%
$324,860
$324.9K
Cap Rate 7%
$232,043
$232.0K
Cap Rate 9%
$180,478
$180.5K
Market Conditions
NOI Build-Up for 1,792 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
$24.7K $13.80/SF
− Vacancy
−$1.5K −$0.85/SF
EGI
$23.2K $12.95/SF
− OpEx
−$7.0K −$3.88/SF
NOI
$16.2K $9.06/SF
Area
Columbus, GA
Vacancy
6.17%
Lease Rate
$13.80 /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%
$324,860
Cap Rate 7%
$232,043
Cap Rate 9%
$180,478
Alternative Uses
Best Use
Multifamily LT 5
$232.0K
$203.0K – $270.7K
NOI $16,243 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$205.4K
$179.7K – $239.6K
NOI $14,376 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$401.0K
$350.8K – $467.8K
NOI $28,067 @ 7.0% cap · market cap 15.59%
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
598
Businesses Nearby
Explore this area
Business Placement
Demographics for 31904, GA
36,947
Population
15,947
Households
2.3
Avg Household Size
39
Median Age
31%
College-Educated
88%
High-School Grad
27.5 sq mi
ZIP Area
1,344
Density / Sq Mi
$65,625
Median Household Income
$42,573
Median Earnings
$1,036
Median Rent
$216,100
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 - Fully updated two-unit property with separate systems, in-place occupancy, and leases extending through 2027.
Where is this duplex located?
The property is located at 3535 13th Ave Columbus, GA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,792 SF duplex at 3535 13th Ave, Columbus, GA; Both units occupied with leases in place through 2027; Front and rear unit configuration provides separation between residences
