Character Duplex with
For Sale
$449,800
809 E 2nd Avenue SW, Rome, GA 30161
Residential Income, Rome, GA
Property Size3,336 SF
Lot Size0.18 Acres
Price / SF$134.83
Days on Market96
Property Features for 809 E 2nd Avenue SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
Carport
Fireplace
1
Elementary school
East Central
Middle school
Rome
High school
Rome
Directions
From Downtown Rome, take E 2nd Ave. The property will be on the left.
Standard status
Active
APN
J14J 067
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
3542
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
custom cabinetry
detailed woodwork
tiled bathrooms
Building Details
Year built
1931
Floors in Building
2
Number of units
2
Building materials
Wood Siding
Listing Agency:
Hardy Realty & Development Company
(706) 291-4321
Listed By:
Stephen Douglas Graves · License #172674
(770) 547-2401
Added: May 20
Changed: Aug 19
Last Checked: Aug 23 at 3:06AM
MLS# 10768317
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.
Investment Insights
Based on property information with market context.
Built in 1931, this 3,336-square-foot duplex retains the scale and detailing of its original single-family design. The two-unit arrangement includes a three-bedroom, two-bath residence and a separate two-bedroom, one-bath residence. Interior features include 9-foot ceilings, custom cabinetry, detailed woodwork, tiled bathrooms, and a fireplace. Central heating and central air serve the property, with a carport for parking.
One unit is occupied, while the second has been vacated and is ready for a new tenant or owner-occupant. The 0.18-acre property uses public water and public sewer and is located in Rome near restaurants, shopping, and downtown attractions. The existing layout also allows for a future return to single-family use.
One unit is occupied, while the second has been vacated and is ready for a new tenant or owner-occupant. The 0.18-acre property uses public water and public sewer and is located in Rome near restaurants, shopping, and downtown attractions. The existing layout also allows for a future return to single-family use.
Key Highlights
- 3,336‑square‑foot duplex on a 0.18‑acre lot
- Unit mix includes 3 bedrooms and 2 full bathrooms plus 2 bedrooms and 1 full bathroom
- One unit occupied; second unit recently vacated and ready for a new tenant or owner‑occupant
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
$22,271
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
4.95%
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%
$445,420
$445.4K
Cap Rate 7%
$318,157
$318.2K
Cap Rate 9%
$247,456
$247.5K
Market Conditions
NOI Build-Up for 3,336 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
$34.0K $10.20/SF
− Vacancy
−$2.2K −$0.66/SF
EGI
$31.8K $9.54/SF
− OpEx
−$9.5K −$2.86/SF
NOI
$22.3K $6.68/SF
Area
Floyd 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%
$445,420
Cap Rate 7%
$318,157
Cap Rate 9%
$247,456
Alternative Uses
Best Use
Multifamily LT 5
$318.2K
$278.4K – $371.2K
NOI $22,271 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$286.8K
$251.0K – $334.6K
NOI $20,076 @ 7.0% cap · market cap 4.46%
Theoretical Best
Healthcare Medical
$552.8K
$483.7K – $644.9K
NOI $38,695 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 30161, GA
35,382
Population
14,924
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
85%
High-School Grad
143.3 sq mi
ZIP Area
247
Density / Sq Mi
$60,176
Median Household Income
$34,545
Median Earnings
$1,006
Median Rent
$185,000
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?
Duplex - Two residential units include one occupied apartment and another available for a new tenant or owner-occupant.
Where is this duplex located?
The property is located at 809 E 2nd Avenue SW Rome, GA.
What is the asking price?
The asking price for this property is $449,800.
What are key features of this property?
This property features: 3,336‑square‑foot duplex on a 0.18‑acre lot; Unit mix includes 3 bedrooms and 2 full bathrooms plus 2 bedrooms and 1 full bathroom; One unit occupied; second unit recently vacated and ready for a new tenant or owner‑occupant
