Side-by-Side Triplex
New
For Sale
$539,800
378 Cowan Street, Macon, GA 31217
MULTI FAMILY, Macon, GA
Property Size3,498 SF
Price / SF$154.32
Days on Market2
Property Features for 378 Cowan Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Appliances
Electric Range, Refrigerator
Subdivision
Shurling Cross Keys
Elementary school
Bibb-Burdell-Hunt
Middle school
Bibb-Appling
High school
Bibb-Northeast
Standard status
Active
Size
3,498 SF
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
central heating and air
dedicated laundry connections
fencing
Building Details
Year built
1977
Floors in Building
2
Number of units
6
Listing Agency:
KELLER WILLIAMS REALTY MIDDLE GEORGIA
(478) 333-5050
Listed By:
Dorey Hawkins · License #412329
(678) 468-7855
Added: Oct 15
Last Checked: Oct 16 at 9:06PM
MLS# 266330
Copyright © 2026 Central 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.
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Investment Insights
Based on property information with market context.
This offering combines two adjacent triplex buildings at 378 and 390 Cowan Street, totaling six residential units and 3,498 square feet. The properties contain 14 bedrooms, six full bathrooms, and six half bathrooms. Central heating and air, laundry connections, and fencing are among the existing features; electric ranges and refrigerators are also included. Both buildings were constructed in 1977.
Five of the six units are rented. The properties are located in Macon, Georgia, and are identified by the addresses 378 and 390 Cowan Street.
Five of the six units are rented. The properties are located in Macon, Georgia, and are identified by the addresses 378 and 390 Cowan Street.
Key Highlights
- Two side‑by‑side triplex buildings at 378 and 390 Cowan Street
- Six units totaling 3,498 square feet
- 14 bedrooms, 6 full bathrooms, and 6 half bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,608
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,160
$632.2K
Cap Rate 7%
$451,543
$451.5K
Cap Rate 9%
$351,200
$351.2K
Market Conditions
NOI Build-Up for 3,498 SF
Gross rent
$48.3K $13.80/SF
− Vacancy
−$3.1K −$0.89/SF
EGI
$45.2K $12.91/SF
− OpEx
−$13.5K −$3.87/SF
NOI
$31.6K $9.04/SF
Area
Macon, GA
Vacancy
6.46%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$632,160
Cap Rate 7%
$451,543
Cap Rate 9%
$351,200
Alternative Uses
Best Use
Multifamily LT 5
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$415.0K
$363.1K – $484.1K
NOI $29,048 @ 7.0% cap · market cap 5.38%
Theoretical Best
Healthcare Medical
$669.2K
$585.6K – $780.8K
NOI $46,845 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
816
Businesses Nearby
Explore this area
Business Placement
Demographics for 31217, GA
17,808
Population
7,870
Households
2.3
Avg Household Size
40
Median Age
9%
College-Educated
84%
High-School Grad
107.8 sq mi
ZIP Area
165
Density / Sq Mi
$43,821
Median Household Income
$33,244
Median Earnings
$858
Median Rent
$95,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Six residential units include central heating and air, with five units currently rented.
Where is this triplex located?
The property is located at 378 Cowan Street Macon, GA.
What is the asking price?
The asking price for this property is $539,800.
What are key features of this property?
This property features: Two side‑by‑side triplex buildings at 378 and 390 Cowan Street; Six units totaling 3,498 square feet; 14 bedrooms, 6 full bathrooms, and 6 half bathrooms
