Three-Bedroom Duplex
For Sale
$219,000
123 Jennie Drive, Dothan, AL 36301
Residential, Duplex, Traditional, Dothan, AL
Property Size1,450 SF
Lot Size0.12 Acres
Price / SF$151.03
Days on Market18
Property Features for 123 Jennie Drive
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Laundry Room, Bedroom 3, Bathroom 2
Parking features
Garage - Attached
Appliances
Dishwasher, Microwave, Oven
Subdivision
Avalon Place
Elementary school
Selma Street Elementary
Middle school
Dothan Prep/Carver 9th
High school
Dothan High School (Grades 10 - 12)
Standard status
Active
APN
09-07-35-3-000-003.024
Size
1,450 SF
Lot size
0.12 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Water front features
Waterfront
Building Details
Year built
2023
Floors in Building
1
Flooring type
Tile, Vinyl
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 923-5547
Listed By:
Cathy Cole
(334) 701-1592
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 31 at 5:06PM
MLS# 214326
Copyright © 2026 Southeast Alabama Association of REALTORS®. 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.
This residential income property is a duplex unit completed in 2023, offering 1,450 square feet with three bedrooms and two bathrooms. The interior includes granite countertops, tile and vinyl flooring, a gas range, dishwasher, microwave, and oven. A new tile installation in the primary shower adds a recent improvement, while the expanded rear patio and gutters extend the home’s practical features. The attached garage provides on-site covered parking.
The property is in Avalon Place on Dothan’s south side, near 231 South, James Oates Park, Hunt's Seafood Restaurant, and shopping and dining options. Public water and public sewer serve the property, which sits on a 0.12-acre lot and includes a waterfront feature.
The property is in Avalon Place on Dothan’s south side, near 231 South, James Oates Park, Hunt's Seafood Restaurant, and shopping and dining options. Public water and public sewer serve the property, which sits on a 0.12-acre lot and includes a waterfront feature.
Key Highlights
- 2023‑built duplex unit with 1,450 square feet
- Three bedrooms and two bathrooms
- Granite countertops throughout with tile and vinyl flooring
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
$7,933
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
3.62%
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%
$158,660
$158.7K
Cap Rate 7%
$113,329
$113.3K
Cap Rate 9%
$88,144
$88.1K
Market Conditions
NOI Build-Up for 1,450 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
$15.3K $10.56/SF
− Vacancy
−$888 −$0.61/SF
EGI
$14.4K $9.95/SF
− OpEx
−$6.5K −$4.48/SF
NOI
$7.9K $5.47/SF
Area
Houston County, AL
Vacancy
5.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$158,660
Cap Rate 7%
$113,329
Cap Rate 9%
$88,144
Alternative Uses
Best Use
Apartment 5plus
$113.3K
$99.2K – $132.2K
NOI $7,933 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$256.3K
$224.3K – $299.0K
NOI $17,940 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Explore this area
Business Placement
Demographics for 36301, AL
38,447
Population
17,872
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
85%
High-School Grad
89.2 sq mi
ZIP Area
431
Density / Sq Mi
$49,124
Median Household Income
$35,333
Median Earnings
$886
Median Rent
$156,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Updated interiors, an attached garage, and public utilities support straightforward residential ownership or rental use.
Where is this residential income property located?
The property is located at 123 Jennie Drive Dothan, AL.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 2023‑built duplex unit with 1,450 square feet; Three bedrooms and two bathrooms; Granite countertops throughout with tile and vinyl flooring
