Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3355 Lexington Rd Montgomery, AL 36106

    Sponsored
    For Sale
    $249,900

    MULTI_FAMILY - Other - Montgomery, AL

    Days on Market:
    4
    Last Refresh:
    Feb 21 at 7:06 am

    Property Features for 3355 Lexington Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 20, Bathroom 2, Bathroom 6, Bathroom 8, Bathroom 13, Bathroom 15, Bathroom 7, Bedroom 2, Bathroom 4, Bathroom 18, Bathroom 5, Bathroom 17, Bathroom 3, Bathroom 19, Bathroom 1, Bedroom 1, Bathroom 9, Bathroom 11, Bathroom 14, Bathroom 16, Bathroom 10, Bedroom 4, Bathroom 12, Bedroom 3
    Bedrooms
    4
    APN
    10-04-19-4-019-012.000
    Parking features
    Driveway, Garage
    Interior features
    SeparateFormalDiningRoom
    Appliances
    Dishwasher, GasCooktop, GasOven, GasRange, GasWaterHeater, MultipleWaterHeaters, Microwave, Refrigerator

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Multi Units, Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1935
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Tile, Vinyl, Wood
    Building materials
    Brick
    Architectural style
    Other

    We can help!

    Listing Contact
    Kim McElroy

    Capital Market Center Partners dba KW Montgomery (334) 277-8920

    Listing agent Kim McElroy (334) 277-8920 License #0065901

    Listing date Feb 18, 2026

    MLS# 582365 Listing URL

    Copyright © 2026 Montgomery Area Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Cloverdale Duplex with Income Potential

    Located in the Cloverdale/Idlewild area, this property features two units and the potential for a third. Originally constructed as a duplex in the 1930s, the two main units have updated kitchens and baths. The kitchens include new appliances such as a gas range, built-in microwave, dishwasher, and refrigerator. Some plumbing has also been updated. A new roof was installed in 2024. Unit 1 features an enclosed front porch that provides additional living space. Unit 2 includes a sunroom, which could serve as a child's room or a third bedroom if needed. A detached two-car garage has an efficiency studio apartment above it, offering additional rental income potential, though it requires some TLC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.29814
    Latitude
    32.346564

    Nearby Similar for Sale

    • New
      $529,900
      6,508 SF

      Montgomery Office Building For Sale

      Well-maintained office building in Montgomery's business district.
      4249 Lomac St, Montgomery, AL 36106
      View Details
    • $479,900
      7,359 SF

      Versatile Mixed-Use Commercial Property

      7,300+ sqft Montgomery property suitable for residential and commercial use.
      414 Perry Hill Rd, Montgomery, AL 36109
      View Details
    • $250,000

      Cloverdale Duplex: Investor Opportunity

      Well-maintained duplex in Cloverdale, ideal for rental income.
      2058 Woodley Rd, Montgomery, AL 36111
      View Details
    • $550,000

      Eastern Blvd Commercial Opportunity

      Prime commercial property on Eastern Blvd, Montgomery, AL.
      1301 Eastern Blvd, Montgomery, AL 36117
      View Details
    • $198,700
      1.38 Acres

      Commercial Building in Montgomery, AL

      Commercial building with high visibility and easy interstate access.
      33 East South St, Montgomery, AL 36104
      View Details
    • $680,000
      4,897 SF

      Multi-Tenant Building in Montgomery, AL

      Multi-tenant building with recent renovations and ample parking.
      7010 Fulton Ct, Montgomery, AL 36117
      View Details
    • $269,900

      Charming Duplex in Cloverdale Historic

      1940's duplex in Cloverdale with new appliances.
      1131 Magnolia Curv, Montgomery, AL 36106
      View Details
    • $210,000

      Cloverdale Duplex Investment Opportunity

      Upgraded duplex in Cloverdale with strong rental potential.
      139 Mount Vernon Dr, Montgomery, AL 36105
      View Details
    • $100,000

      Montgomery Triplex with Investment Potential

      Three-unit property with separate meters and off-street parking.
      1255 S Hull St, Montgomery, AL 36104
      View Details
    • $85,000

      Montgomery Triplex in Capitol Heights

      Three-unit multifamily property in Montgomery's Capitol Heights neighborhood.
      2107 Winona Ave, Montgomery, AL 36107
      View Details
    • $199,000

      Income-Generating Duplex in Montgomery, AL

      Well-maintained duplex with immediate income potential near Vintage Year Cafe.
      3442-3444 Audubon Rd, Montgomery, AL 36111
      View Details
    • $115,000
      2,167 SF

      Retail/Office Space in Montgomery

      Retail or office space in a prime Montgomery location.
      2021 Mulberry St, Montgomery, AL 36106
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in Cloverdale/Idlewild with potential for additional income.
    Where is this duplex located?
    The property is located at 3355 Lexington Rd Montgomery, AL.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Investment opportunity in desirable Cloverdale/Idlewild.; - New roof installed in 2024.; - **Updated kitchens and baths** in both main units with new appliances (gas range, microwave, dishwasher, refrigerator).
    (334) 318-2866
    Request Owner's contact information
    3355 Lexington Rd Montgomery, AL 36106
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3355 Lexington Rd
    Montgomery, AL 36106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3355 Lexington Rd Montgomery, AL 36106
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Kim McElroy
    Real Estate License ID: 0065901
    (334) 318-2866 (334) 277-8920
    Learn more
    Google sign-in failed. Please try again or use another login method.