Duplex with Updated
For Sale
$170,000
2200 13th Avenue, Phenix City, AL 36867
Residential Income, Phenix City, AL
Property Size1,485 SF
Lot Size0.23 Acres
Price / SF$114.48
Days on Market57
Property Features for 2200 13th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Driveway
Appliances
Refrigerator
Subdivision
No Subdivision
Lot features
Less than 1/2 Acre, Level
Directions
South On Summerville Rd Turn Right On 22nd St, Continue On 22nd St Turn Right On 13th Ave, Home On The Corner Of 13th Ave And 22nd.
Standard status
Active
APN
570502101010001
Size
1,485 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Number of units
2
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Michael Terrell · License #129247
(762) 207-7005
Added: Jul 10
Changed: Sep 3
Last Checked: Sep 4 at 7:06PM
MLS# 231353
Copyright © 2026 Columbus Board of Realtors (GA). 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 1,485-square-foot duplex includes two residential units with a combined layout of four bedrooms and two bathrooms. Both units are currently leased, with Unit A under lease through January 2027 and Unit B through November 2026. The property includes central air, electric heat, a refrigerator, and driveway parking. A roof replacement completed in 2022 adds a recent capital improvement to the building, which was constructed in 1988.
The property occupies 0.23 acres in Phenix City, Alabama, and is served by public water and public sewer. Its residential configuration, existing leases, and separate unit arrangement provide an established income-property format for an investor or owner seeking a duplex asset.
The property occupies 0.23 acres in Phenix City, Alabama, and is served by public water and public sewer. Its residential configuration, existing leases, and separate unit arrangement provide an established income-property format for an investor or owner seeking a duplex asset.
Key Highlights
- 1,485‑square‑foot duplex with four bedrooms and two bathrooms
- Both units are leased through January 2027 and November 2026
- Roof installed in 2022
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
$12,692
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
7.47%
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%
$253,840
$253.8K
Cap Rate 7%
$181,314
$181.3K
Cap Rate 9%
$141,022
$141.0K
Market Conditions
NOI Build-Up for 1,485 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
$19.6K $13.20/SF
− Vacancy
−$1.5K −$0.99/SF
EGI
$18.1K $12.21/SF
− OpEx
−$5.4K −$3.66/SF
NOI
$12.7K $8.55/SF
Area
Lee County, AL
Vacancy
7.50%
Lease Rate
$13.20 /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%
$253,840
Cap Rate 7%
$181,314
Cap Rate 9%
$141,022
Alternative Uses
Best Use
Multifamily LT 5
$181.3K
$158.7K – $211.5K
NOI $12,692 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,875 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$362.2K
$316.9K – $422.6K
NOI $25,353 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 36867, AL
22,505
Population
10,782
Households
2.1
Avg Household Size
37
Median Age
28%
College-Educated
90%
High-School Grad
12.6 sq mi
ZIP Area
1,786
Density / Sq Mi
$46,847
Median Household Income
$36,035
Median Earnings
$963
Median Rent
$188,000
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 - Four-bedroom duplex with two leased units, public utilities, central air, and driveway parking.
Where is this duplex located?
The property is located at 2200 13th Avenue Phenix City, AL.
What is the asking price?
The asking price for this property is $170,000.
What are key features of this property?
This property features: 1,485‑square‑foot duplex with four bedrooms and two bathrooms; Both units are leased through January 2027 and November 2026; Roof installed in 2022
