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Albany 31705 East Albany
1523 Malone Drive
$46,000
● House - Off Market

1523 Malone Drive

Albany, GA 31705
bedrooms
3 Beds
bathrooms
2 Baths
$307
Est. Monthly
27.37%
Cap Rate

About This Property

This three-bedroom, two-bath ranch home is conveniently located near shops and stores, offering comfort and convenience. While it does need some TLC, the potential is undeniable! With some vision and effort, this could become the perfect first home or an excellent investment opportunity. Don't miss out-schedule your viewing today and explore the possibilities!
Unit Size
-
Days on Market
94 days
Land Size
0.28 acres
Price per sqft
-
Property Type
House
Property Taxes
$62
HOA Dues
-
Year Built
1949

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 2 years ago (GAMLS #10476276)

Price History

Date / Event Date Event Price
Jun 13, 2025 Sold
Premium
Sold
May 23, 2025 In contract -
In contract
Apr 23, 2025 Price Decreased $49,900
↓ $10K (16.7%)
Price Decreased
Mar 10, 2025 Listed $59,900
Listed
Nov 8, 1994 Sold
Premium
Sold
Show More

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1949
  • Effective Year Built: 1949
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 7
  • Interior Walls Type: 3
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Floor Cover: 13
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,197
  • Lot Size Depth Feet: 1,110
  • Lot Size Frontage Feet: 1,080
  • Total Building Area: 1,776
  • Building Area: 1,776
  • Building Area Measurement: E

    Heating and Cooling

  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 1,776
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: AIRPORT HOUSING
  • Land Acres: 0000000280
  • Standard Land Use Code: 1001
  • County Land Use Code: R3

Neighborhood

  • School District Name: Dougherty School District
  • School Tax School District: CITY OF ALBANY
  • Census Tract: 010302

Zoning

  • Zoning: R3

Geography

  • Account Number: 18923
  • Parcel: 0000K/00027/010
  • Block: 198
  • Municipality: CITY
  • Latitude: 31.6016
  • Longitude: -84.1126

    Address

  • Full Address: 1523 Malone Dr
  • Address - House Number: 1523
  • Address - Street Name: Malone
  • Address - Suffix Type: Dr
  • State: GA
  • City Name: Albany
  • Carrier Code: C035
  • 4-Digit Zip Code: 1156
  • Zip Code: 31705

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $68,846
  • Tax Rate Code Area: CITY OF AL

    Appraisal Valuation

  • Standard Deviation: 0.2357
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 52
  • Final Value: 61,977
  • High Value: 76,585
  • Low Value: 47,368

    Market Valuation

  • Market Total Value: $39,700
  • Market Land Value: $4,500
  • Market Improvement Value: $35,200

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $15,880
  • Assessed Land Value: $1,800
  • Assessed Improvements Value: $14,080

    Exemptions

  • Senior Citizen Exemption : Yes
  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Nov 08, 1994
  • Current Sale Recording Date: Nov 08, 1994
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 71
  • Previous Sale Recording Date: Nov 04, 1988
  • Previous Sale Contract Date: Nov 04, 1988
  • Previous Sale Amount: $21,400
  • Previous Sale Document Type: 55
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About East Albany

Stats & Trends

Median Asking:

$55,000

Sale Price/ft²

$59

Below Asking

0.05%

Average Days on Market

90

Average Home Size

1606 ft²

Average Home Age

62 years

Currently For Sale

4 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

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GAMLS

Listed by: Kimberly Norman,
Last Updated: 2 years ago
Data Source: GAMLS, MLS# 10476276
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 GAMLS. All rights reserved.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 1523 Malone Drive built and last sold?
The property at 1523 Malone Drive was built in 1949 and last sold on Nov 8, 1994 for $30,000.
How much is this home worth?
The estimated value of the home located at 1523 Malone Drive is $0.
What are some comparable homes to 1523 Malone Drive?
There are currently no comparable homes to 1523 Malone Drive.
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