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    Turn-Key Duplex Portfolio Title is generated by Realmo AI

    4409 Mikado Avenue, Macon, GA 31206

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    Claim this Listing
    For Sale
    $397,000

    MULTI_FAMILY - Macon, GA

    Property size:
    2,800 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $141/SF
    Added:
    Mar 10, 2025
    Days on Market:
    454
    Last Refresh:
    Jun 6 at 3:06 pm

    Property Features for 4409 Mikado Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Off Street
    Standard status
    Active
    APN
    P1030176
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    25
    Tax Annual Amount
    1503

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1963
    Floors in Building
    1
    Number of units
    4
    Building materials
    Brick

    We can help!

    Listing Contact
    Merritt Eckles
    Merritt Eckles

    Listing agent Merritt Eckles License #371894

    Listing office Keller Williams Middle Georgia 4851 Russell Pkwy, Suite 800, Warner Robins, GA

    Listing date Mar 10, 2025

    MLS# 10774410 Listing URL

    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.

    HighLights

    • Turn‑key portfolio package includes 4409 Makado Ave plus 912 Thomas St for a total of 3 duplexes and one single‑family home on adjacent lots (sold as is).
    • 4409 Makado Ave includes 2 duplexes: 4409/4411 Mikado Ave and 918/924 Thomas St.
    • Each unit is 700 SF with a 2 bed, 1 bath layout (8 total units across the two duplexes listed for 4409 Makado Ave).
    • Brick construction with electric heating and window unit(s) cooling.
    • Public water and public sewer services.
    • Off‑street parking.

    Overview

    This for-sale package includes two duplexes at 4409 and 4411 Mikado Avenue, plus additional duplex units at 918 and 924 Thomas Street, all with 2-bedroom, 1-bath layouts. The units are described as approximately 700 square feet each, and the property is being sold as is.

    The listing also notes an offer as part of a broader package with 912 Thomas Street on adjacent lots, for a total of 3 duplexes and one single-family home. The address provided for this specific listing is 4409 Mikado Avenue in Macon, Georgia (31206), in Bibb County.

    For investors or owner-operators seeking an income-focused residential portfolio, the key operational detail here is occupancy at the time of sale, along with the repeatable duplex unit mix across the included buildings. The seller is offering the portfolio turn-key and as-is, so buyers should plan for diligence based on their underwriting and desired property management approach.

    Local 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 $38.6k $13.80
    − Vacancy −$2.5k −$0.89
    EGI $36.1k $12.91
    − OpEx −$10.8k −$3.87
    NOI $25.3k $9.04
    2,800 SF · lease $13.80/SF/yr · vacancy 6.46% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $361.4K
    $316.3K – $421.7K (±1% cap)
    NOI $25,301 @ 7.0% cap · market cap 6.37%
    Second Best
    Apartment 5plus
    $332.2K
    $290.7K – $387.5K (±1% cap)
    NOI $23,252 @ 7.0% cap · market cap 5.86%
    Theoretical Best
    Healthcare Medical
    $535.7K
    $468.7K – $625.0K (±1% cap)
    NOI $37,498 @ 7.0% cap · market cap 9.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Skin Care Clinic Big Box & Wholesale Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Macon
    County
    Bibb
    State
    Georgia
    Longitude
    -83.654513
    Latitude
    32.783695

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    FAQs

    What type of property is this?
    Duplex - Two duplexes with separately metered 2-bedroom units, sold as-is with all units occupied.
    Where is this duplex located?
    The property is located at 4409 Mikado Avenue Macon, GA.
    What is the asking price?
    The asking price for this property is $397,000.
    What are key features of this property?
    This property features: Turn‑key portfolio package includes 4409 Makado Ave plus 912 Thomas St for a total of 3 duplexes and one single‑family home on adjacent lots (sold as is).; 4409 Makado Ave includes 2 duplexes: 4409/4411 Mikado Ave and 918/924 Thomas St.; Each unit is 700 SF with a 2 bed, 1 bath layout (8 total units across the two duplexes listed for 4409 Makado Ave).
    (478) 230-1159
    We can help!
    Listing Contact
    Merritt Eckles
    Merritt Eckles
    Real Estate License ID: 371894
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    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.

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