Occupied Four-Unit
For Sale
$179,000
Pending
430 N Cleveland St, Albany, GA 31701
Residential income property with four occupied units and an eight-bedroom, four-bathroom configuration.
Property Size2,592 SF
Days on Market39
Property Features for 430 N Cleveland St
General Information
Standard status
Pending
Size
2,592 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
4
Listing Agency:
Exit Self Property Advisors
(770) 597-2888
Listed By:
Whittney Self · License #388226
(770) 597-2888
Source:
Exprealty
Added: Jul 10
Changed: Aug 15
Last Checked: Aug 16 at 9:36AM
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 Exit Self Property Advisors
Investment Insights
Based on property information with market context.
This quadplex contains four residential units totaling 2,592 square feet, with an overall configuration of 8 bedrooms and 4 bathrooms. The units are identified as 430, 432, 434, and 436, and all are currently occupied by tenants.
Located at 430 N Cleveland St in Albany, GA, the property offers an existing occupied-unit profile for buyers evaluating a residential income asset. Tenant details and a pro forma are available upon request.
Located at 430 N Cleveland St in Albany, GA, the property offers an existing occupied-unit profile for buyers evaluating a residential income asset. Tenant details and a pro forma are available upon request.
Key Highlights
- Four‑unit quadplex totaling 2,592 square feet
- 8 bedrooms and 4 bathrooms across the property
- All units currently occupied by tenants
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
$15,875
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
8.87%
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%
$317,500
$317.5K
Cap Rate 7%
$226,786
$226.8K
Cap Rate 9%
$176,389
$176.4K
Market Conditions
NOI Build-Up for 2,592 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
$31.1K $12.00/SF
− Vacancy
−$2.2K −$0.86/SF
EGI
$28.9K $11.14/SF
− OpEx
−$13.0K −$5.01/SF
NOI
$15.9K $6.12/SF
Area
Dougherty County, GA
Vacancy
7.20%
Lease Rate
$12.00 /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%
$317,500
Cap Rate 7%
$226,786
Cap Rate 9%
$176,389
Alternative Uses
Best Use
Multifamily LT 5
$244.6K
$214.0K – $285.3K
NOI $17,119 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$226.8K
$198.4K – $264.6K
NOI $15,875 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$510.1K
$446.3K – $595.1K
NOI $35,707 @ 7.0% cap · market cap 19.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 31701, GA
18,133
Population
9,535
Households
1.9
Avg Household Size
39
Median Age
17%
College-Educated
81%
High-School Grad
21.2 sq mi
ZIP Area
855
Density / Sq Mi
$32,902
Median Household Income
$31,489
Median Earnings
$812
Median Rent
$97,400
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?
Quadplex - Residential income property with four occupied units and an eight-bedroom, four-bathroom configuration.
Where is this quadplex located?
The property is located at 430 N Cleveland St Albany, GA.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 2,592 square feet; 8 bedrooms and 4 bathrooms across the property; All units currently occupied by tenants
