Manufactured Home Rental
For Sale
$285,000
2495 Decatur Rd, Cottonwood, AL 36320
Residential Income, Cottonwood, AL
Property Size1,680 SF
Lot Size4.52 Acres
Price / SF$169.64
Days on Market49
Property Features for 2495 Decatur Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
13
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 2, Bedroom 12, Bathroom 7, Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 4, Bedroom 11, Bedroom 3, Bedroom 7, Bedroom 4, Bathroom 8, Bedroom 6, Bedroom 9, Bedroom 1, Bedroom 10, Bedroom 8, Bedroom 13, Bedroom 5, Bathroom 1, Bathroom 5
Parking features
Carport
Appliances
Dishwasher, Electric Water Heater, Microwave, Refrigerator, Self Cleaning Oven
Elementary school
Cottonwood
Middle school
Cottonwood
High school
Cottonwood
Subdivision
9c Houston SE 84 E-231 S
Standard status
Active
APN
19-09-31-0-000-001.002
Size
1,680 SF
Lot size
4.52 Acres
Utilities
Sewer type
Septic Tank
Water source
Public
Water front features
Waterfront
Building Details
Year built
1983
Floors in Building
1
Flooring type
Carpet, Vinyl
Listing Agency:
Keller Williams Southeast Alabama · Keller Williams Realty
(334) 702-3595
Listed By:
Megan Rhodes · License #115210
(334) 714-2318
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 13 at 11:06PM
MLS# 214027
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 multifamily offering comprises four manufactured homes distributed across four parcels and 4.52 acres. The mix includes three double-wide residences and one single-wide, with updates completed in several homes and two units fully renovated. All four residences are occupied and producing rental income as part of a single package.
The properties are located on Decatur Road in Cottonwood, Alabama. Existing site infrastructure includes public water, septic systems, and carport parking. Additional pad space is available for future manufactured-home placement, providing room for further on-site development. The portfolio also includes homes built in 1983 and a waterfront feature.
The properties are located on Decatur Road in Cottonwood, Alabama. Existing site infrastructure includes public water, septic systems, and carport parking. Additional pad space is available for future manufactured-home placement, providing room for further on-site development. The portfolio also includes homes built in 1983 and a waterfront feature.
Key Highlights
- Four manufactured homes across 4 parcels
- 4.52 total acres with additional pad space for future home placement
- Unit mix includes 3 double‑wide homes and 1 single‑wide
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
$9,192
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
3.23%
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%
$183,840
$183.8K
Cap Rate 7%
$131,314
$131.3K
Cap Rate 9%
$102,133
$102.1K
Market Conditions
NOI Build-Up for 1,680 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
$17.7K $10.56/SF
− Vacancy
−$1.0K −$0.61/SF
EGI
$16.7K $9.95/SF
− OpEx
−$7.5K −$4.48/SF
NOI
$9.2K $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%
$183,840
Cap Rate 7%
$131,314
Cap Rate 9%
$102,133
Alternative Uses
Best Use
Apartment 5plus
$131.3K
$114.9K – $153.2K
NOI $9,192 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$296.9K
$259.8K – $346.4K
NOI $20,786 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 36320, AL
3,576
Population
1,700
Households
2.1
Avg Household Size
44
Median Age
13%
College-Educated
83%
High-School Grad
64.3 sq mi
ZIP Area
56
Density / Sq Mi
$45,366
Median Household Income
$32,859
Median Earnings
$675
Median Rent
$130,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Four occupied manufactured residences offer an established rental configuration with updated interiors and additional pad space.
Where is this multifamily property located?
The property is located at 2495 Decatur Rd Cottonwood, AL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Four manufactured homes across 4 parcels; 4.52 total acres with additional pad space for future home placement; Unit mix includes 3 double‑wide homes and 1 single‑wide
