Building Details

Year Built 1986

Buildings 1

Listing Agency: Realty One Group Inclusion

Listed By: Annmarie Neill · License #361269 Show Phone

Source: Searchgreateraugustahomes

Added: Sep 30 Changed: Oct 6 Last Checked: Oct 5 at 7:09PM

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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 Realty One Group Inclusion

Investment Insights

Based on property information with market context.

Built in 1986, this duplex contains a 3-bedroom, 2-bath unit and a 2-bedroom, 2-bath unit. Both feature LVP flooring and stainless steel appliances. The larger residence also includes updated countertops, a tankless water heater, an enclosed sunroom, and a covered rear porch; its HVAC is described as newer. The second unit has fresh paint and new ductwork, with an HVAC system less than five years old. A new roof was installed in 2025, and the property has a privacy fence with separate yard areas.

The property is at 506 Greenbay Ave in Rincon, Georgia. The two units provide distinct residential layouts within one duplex.

Key Highlights

• Two‑unit property with 3‑bedroom, 2‑bath and 2‑bedroom, 2‑bath residences
• New roof installed in 2025
• 3‑bedroom unit includes an enclosed sunroom, covered back porch, and separate fenced yard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,333

Cap Rate

5.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$426,660 $426.7K

Cap Rate 7%

$304,757 $304.8K

Cap Rate 9%

$237,033 $237.0K

Market Conditions

NOI Build-Up for 2,012 SF

Gross rent

$32.6K $16.20/SF

− Vacancy

−$2.1K −$1.05/SF

EGI

$30.5K $15.15/SF

− OpEx

−$9.1K −$4.54/SF

NOI

$21.3K $10.60/SF

Area

Effingham County, GA

Vacancy

6.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$426,660

Cap Rate 7%

$304,757

Cap Rate 9%

$237,033

Alternative Uses

Best Use

Multifamily LT 5

$304.8K

$266.7K – $355.6K (±1% cap)

NOI $21,333 @ 7.0% cap · market cap 5.33%

Second Best

Apartment 5plus

$282.6K

$247.3K – $329.7K (±1% cap)

NOI $19,784 @ 7.0% cap · market cap 4.95%

Theoretical Best

Warehouse

$1.88M

$1.65M – $2.19M (±1% cap)

NOI $131,624 @ 7.0% cap · market cap 32.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Big Box & Wholesale Store Building Supply Electrical Service HVAC Service Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

216

Businesses Nearby

Explore this area Business Placement

Demographics for 31326, GA

22,449

Population

9,465

Households

2.4

Avg Household Size

37

Median Age

29%

College-Educated

94%

High-School Grad

68.6 sq mi

ZIP Area

327

Density / Sq Mi

$82,196

Median Household Income

$47,234

Median Earnings

$1,141

Median Rent

$244,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Two residences offer separate fenced yard areas and distinct interior improvements.

Where is this duplex located?

The property is located at 506 Greenbay Ave Rincon, GA.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Two‑unit property with 3‑bedroom, 2‑bath and 2‑bedroom, 2‑bath residences; New roof installed in 2025; 3‑bedroom unit includes an enclosed sunroom, covered back porch, and separate fenced yard