4-Bed Duplex with Outdoor
For Sale
$999,900
1021 Queen City Avenue, Tuscaloosa, AL 35401
Well-maintained duplex with two units, each offering four bedrooms, two full baths, and private outdoor porches and decks.
Property Size4,265 SF
Price / SF$234.44
Days on Market55
Property Features for 1021 Queen City Avenue
General Information
Standard status
Active
Size
4,265 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,466
Building Details
Year Built
1850
Listing Agency:
Advantage Realty Group
(205) 765-2409
Listed By:
Megan Wetzel
(205) 765-2409
Source:
Exitrealty
Added: Jul 9
Changed: Aug 8
Last Checked: Jul 31 at 4:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Advantage Realty Group
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate sides, each laid out with four bedrooms and two full bathrooms. Both units include their own expansive front porch and back deck, providing dedicated outdoor space. The property also features a large backyard and ample parking to support day-to-day convenience.
The duplex is located at 1021 Queen City Avenue in Tuscaloosa, positioned for campus living near the University of Alabama campus, as described in the public remarks.
For buyers seeking a residential income property or a versatile multi-family configuration, the combination of two self-contained units and substantial outdoor areas is a practical setup for longer-term occupancy.
The duplex is located at 1021 Queen City Avenue in Tuscaloosa, positioned for campus living near the University of Alabama campus, as described in the public remarks.
For buyers seeking a residential income property or a versatile multi-family configuration, the combination of two self-contained units and substantial outdoor areas is a practical setup for longer-term occupancy.
Key Highlights
- Well‑maintained duplex built in 1850 on the University of Alabama campus
- Duplex has 2 units, with each side featuring 4 bedrooms and 2 full bathrooms
- Each unit includes a private expansive front porch and back deck
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
$38,522
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
3.85%
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%
$770,440
$770.4K
Cap Rate 7%
$550,314
$550.3K
Cap Rate 9%
$428,022
$428.0K
Market Conditions
NOI Build-Up for 4,265 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
$58.9K $13.80/SF
− Vacancy
−$3.8K −$0.90/SF
EGI
$55.0K $12.90/SF
− OpEx
−$16.5K −$3.87/SF
NOI
$38.5K $9.03/SF
Area
Tuscaloosa, AL
Vacancy
6.50%
Lease Rate
$13.80 /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%
$770,440
Cap Rate 7%
$550,314
Cap Rate 9%
$428,022
Alternative Uses
Best Use
Multifamily LT 5
$550.3K
$481.5K – $642.0K
NOI $38,522 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$494.1K
$432.4K – $576.5K
NOI $34,589 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.02M
$896.8K – $1.20M
NOI $71,744 @ 7.0% cap · market cap 7.18%
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
1,990
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
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 - Well-maintained duplex with two units, each offering four bedrooms, two full baths, and private outdoor porches and decks.
Where is this duplex located?
The property is located at 1021 Queen City Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Well‑maintained duplex built in 1850 on the University of Alabama campus; Duplex has 2 units, with each side featuring 4 bedrooms and 2 full bathrooms; Each unit includes a private expansive front porch and back deck
