Renovated Farmhouse Duplex with
24663 Chestnut Street Elberta, AL 36530
24663 Chestnut Street, Elberta, AL, 36530
$324,900
For Sale
$324,900
Other - Elberta, AL
Property Size2,114 SF
Lot Size0.47 Acres
Price / SF$153.69
Days on Market20
Property Features for 24663 Chestnut Street
General Information
- Property type
- Other
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- Interior features
- Ceiling Fan(s)
- Appliances
- Dishwasher, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 5309301000058.000
- Size
- 2,114 SF
- Lot size
- 0.47 Acres
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Ceiling Fan(s)
Building Details
- Year built
- 1981
- Floors in Building
- 1
- Flooring type
- Laminate
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
Engel & Völkers Gulf Shores
(251) 304-9520
4780 Wharf Pkwy F-105, Orange Beach, AL
Listed by
Joe Emerson
(251) 304-9520
Added: Jun 29 Checked: Jul 18 at 4:06 am
MLS# 398463
Listing URL
Copyright © 2026 Engel & Völkers. 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 renovated farmhouse duplex includes two distinct units and a detached garage. Unit A is a 967-square-foot dwelling, and Unit B is a 1,230-square-foot unit. A detached garage provides flexible additional space suitable for storage or hobby use.
Recent improvements include new HVAC installed in 2024, a metal roof installed in 2021, and remodel work to Unit B in 2022 and Unit A in 2024. The property is centrally located in Elberta, Alabama, with proximity to local amenities, schools, and attractions.
The home’s two-unit layout and documented upgrades make it a straightforward fit for buyers seeking a maintained residential income property. Buyer to verify all information during due diligence.
Recent improvements include new HVAC installed in 2024, a metal roof installed in 2021, and remodel work to Unit B in 2022 and Unit A in 2024. The property is centrally located in Elberta, Alabama, with proximity to local amenities, schools, and attractions.
The home’s two-unit layout and documented upgrades make it a straightforward fit for buyers seeking a maintained residential income property. Buyer to verify all information during due diligence.
Key Highlights
- Renovated farmhouse duplex in Elberta, AL with 2 units and over 2,000 sqft of living area
- Unit A offers 967 sqft with Bedroom 1 and a bathroom
- Unit B offers 1,230 sqft and includes Bedroom 2, Bedroom 3, Bedroom 4, plus two bathrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $29.2k | $13.80 |
| − Vacancy | −$1.5k | −$0.72 |
| EGI | $27.7k | $13.08 |
| − OpEx | −$8.3k | −$3.92 |
| NOI | $19.4k | $9.16 |
2,114 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$276.6K
$242.0K – $322.7K
NOI $19,359 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,231 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$508.4K
$444.8K – $593.1K
NOI $35,586 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated duplex offers two separate units plus a detached garage, with recent HVAC and roof updates.
Where is this duplex located?
The property is located at 24663 Chestnut Street Elberta, AL.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Renovated farmhouse duplex in Elberta, AL with 2 units and over 2,000 sqft of living area; Unit A offers 967 sqft with Bedroom 1 and a bathroom; Unit B offers 1,230 sqft and includes Bedroom 2, Bedroom 3, Bedroom 4, plus two bathrooms
