Three-Unit Triplex with Updated
For Sale
$469,900
6004 Susan Circle #3, Valdosta, GA 31605
Each residence offers laundry hookups, patio-adjacent storage, and stainless-steel kitchen appliances.
Property Size2,776 SF
Days on Market9
Property Features for 6004 Susan Circle #3
General Information
Standard status
Active
Size
2,776 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
MAZ-2
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,480
Amenities
washer/dryer hookups
storage area
patio
Building Details
Building Size
2,776 SF
Year Built
1997
Buildings
1
Stories
1
Listing Agency:
Hogan and Associates Realty Advisors, LLC
(229) 445-1270
Listed By:
Melissa Taylor · License #203174
(229) 445-1270
Source:
Homesinvaldosta
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 1:10PM
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 Hogan and Associates Realty Advisors, LLC
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1997 and is zoned MAZ-2. Each unit provides two bedrooms, two bathrooms, and 925 square feet of living area. Interior improvements include luxury vinyl flooring and kitchens equipped with stainless-steel appliances. Washer and dryer hookups are included in every unit, while each residence also has a small storage area accessible from the rear patio.
The property is located at 6004 Susan Circle #3 in Valdosta, Georgia. Its triplex configuration provides three separately arranged residences within one multifamily asset, with consistent layouts and amenities across the units.
The property is located at 6004 Susan Circle #3 in Valdosta, Georgia. Its triplex configuration provides three separately arranged residences within one multifamily asset, with consistent layouts and amenities across the units.
Key Highlights
- Three units, each with 2 bedrooms, 2 bathrooms, and 925 sq ft
- Luxury vinyl flooring and modern kitchens with stainless appliances
- Washer and dryer hookups in every unit
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
$18,532
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
3.94%
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%
$370,640
$370.6K
Cap Rate 7%
$264,743
$264.7K
Cap Rate 9%
$205,911
$205.9K
Market Conditions
NOI Build-Up for 2,776 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
$28.3K $10.20/SF
− Vacancy
−$1.8K −$0.66/SF
EGI
$26.5K $9.54/SF
− OpEx
−$7.9K −$2.86/SF
NOI
$18.5K $6.68/SF
Area
Lowndes County, GA
Vacancy
6.50%
Lease Rate
$10.20 /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%
$370,640
Cap Rate 7%
$264,743
Cap Rate 9%
$205,911
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.7K – $308.9K
NOI $18,532 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$238.1K
$208.4K – $277.8K
NOI $16,670 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$421.4K
$368.8K – $491.7K
NOI $29,501 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 31605, GA
23,682
Population
9,642
Households
2.5
Avg Household Size
32
Median Age
35%
College-Educated
95%
High-School Grad
48.8 sq mi
ZIP Area
485
Density / Sq Mi
$73,991
Median Household Income
$42,359
Median Earnings
$1,230
Median Rent
$211,900
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?
Triplex - Each residence offers laundry hookups, patio-adjacent storage, and stainless-steel kitchen appliances.
Where is this triplex located?
The property is located at 6004 Susan Circle #3 Valdosta, GA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Three units, each with 2 bedrooms, 2 bathrooms, and 925 sq ft; Luxury vinyl flooring and modern kitchens with stainless appliances; Washer and dryer hookups in every unit
