Duplex with Leased
For Sale
$305,000
949/951 TISDALE Circle, Auburn, AL 33680
Multi-Family, AUBURN, AL
Property Size1,863 SF
Lot Size0.51 Acres
Price / SF$163.71
Days on Market121
Property Features for 949/951 TISDALE Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Open
Subdivision
CLAIRMONT
Elementary school
DEAN ROAD/WRIGHTS MILL ROAD
Directions
GPS works
Standard status
Active
Size
1,863 SF
Lot size
0.51 Acres
Utilities
Utilities
Cable Available
Heating system
Heat Pump (Heating)
Cooling system
Central Air, Electric
Building Details
Year built
1965
Floors in Building
1
Number of units
2
Flooring type
Carpet, Vinyl
Listing Agency:
HAYLEY ENTERPRISES
(334) 750-4839
Listed By:
HAYLEY REAL ESTATE TEAM
(334) 821-8624
Added: May 11
Changed: Sep 4
Last Checked: Sep 8 at 11:06AM
MLS# 180423
Copyright © 2026 Lee County 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.
Located at 949/951 Tisdale Circle, this duplex contains two 2-bedroom, 1-bathroom units totaling 1,863 square feet. Built in 1965 on a 0.51-acre lot, the property includes vinyl and carpet flooring, heat-pump heating, electric central air, open parking, and cable availability. Both units are leased through 7/20/2027.
The property sits inside the Auburn Loop, with downtown Auburn, Auburn University, shopping, dining, and entertainment described as minutes away. Its two-unit configuration and existing leases provide a clearly defined residential income property format, while the individual unit layouts offer straightforward occupancy planning for the current lease term.
The property sits inside the Auburn Loop, with downtown Auburn, Auburn University, shopping, dining, and entertainment described as minutes away. Its two-unit configuration and existing leases provide a clearly defined residential income property format, while the individual unit layouts offer straightforward occupancy planning for the current lease term.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,863 square feet on 0.51 acres
- Both units leased through 7/20/2027
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
$15,923
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
5.22%
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%
$318,460
$318.5K
Cap Rate 7%
$227,471
$227.5K
Cap Rate 9%
$176,922
$176.9K
Market Conditions
NOI Build-Up for 1,863 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
$24.6K $13.20/SF
− Vacancy
−$1.8K −$0.99/SF
EGI
$22.7K $12.21/SF
− OpEx
−$6.8K −$3.66/SF
NOI
$15.9K $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%
$318,460
Cap Rate 7%
$227,471
Cap Rate 9%
$176,922
Alternative Uses
Best Use
Multifamily LT 5
$227.5K
$199.0K – $265.4K
NOI $15,923 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$212.8K
$186.2K – $248.3K
NOI $14,898 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$454.4K
$397.6K – $530.1K
NOI $31,806 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
Explore this area
Business Placement
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 - Two residential units remain leased through July 20, 2027, with central air and open parking.
Where is this duplex located?
The property is located at 949/951 TISDALE Circle Auburn, AL.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,863 square feet on 0.51 acres; Both units leased through 7/20/2027
