Duplex with
New
For Sale
$309,900
1112/1114 OLD MILL Road, Auburn, AL 36830
Multi-Family, AUBURN, AL
Property Size2,048 SF
Lot Size0.29 Acres
Price / SF$151.32
Days on Market3
Property Features for 1112/1114 OLD MILL Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Carport
Subdivision
EAST PARK
Elementary school
DEAN ROAD/WRIGHTS MILL ROAD
Directions
GPS works great with this one!!!
Standard status
Active
Size
2,048 SF
Lot size
0.29 Acres
Utilities
Heating system
Electric (Heating)
Cooling system
Heat Pump
Amenities
fenced backyard
Building Details
Year built
1967
Floors in Building
1
Number of units
2
Listing Agency:
THE DENSON GROUP
(205) 503-8655
Listed By:
LINDA ZHANG
(334) 734-3341
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 17 at 9:06PM
MLS# 182319
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.
This Auburn duplex contains 2,048 square feet arranged as two 2BR/1BA residences. The property includes a carport, fenced backyard, electric heating, and heat-pump cooling. Built in 1967, it has received several recent system updates, including a new roof completed in 2024 and HVAC replacements in May 2026.
Located at 1112/1114 Old Mill Road in Auburn, Alabama, the property occupies 0.29 acres in ZIP Code 36830. One unit is leased through 6/30/2027. Unit #1112 has a water heater and stove that are approximately 3 years old, while Unit #1114 has an HVAC system and water heater that are about 2 years old. The property has no HOA fees.
Located at 1112/1114 Old Mill Road in Auburn, Alabama, the property occupies 0.29 acres in ZIP Code 36830. One unit is leased through 6/30/2027. Unit #1112 has a water heater and stove that are approximately 3 years old, while Unit #1114 has an HVAC system and water heater that are about 2 years old. The property has no HOA fees.
Key Highlights
- Duplex with two 2BR/1BA units totaling 2,048 square feet
- 0.29‑acre property at 1112/1114 Old Mill Road, Auburn, AL 36830
- New roof completed in 2024
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
$17,504
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
5.65%
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%
$350,080
$350.1K
Cap Rate 7%
$250,057
$250.1K
Cap Rate 9%
$194,489
$194.5K
Market Conditions
NOI Build-Up for 2,048 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
$27.0K $13.20/SF
− Vacancy
−$2.0K −$0.99/SF
EGI
$25.0K $12.21/SF
− OpEx
−$7.5K −$3.66/SF
NOI
$17.5K $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%
$350,080
Cap Rate 7%
$250,057
Cap Rate 9%
$194,489
Alternative Uses
Best Use
Multifamily LT 5
$250.1K
$218.8K – $291.7K
NOI $17,504 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$234.0K
$204.7K – $273.0K
NOI $16,377 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$499.5K
$437.1K – $582.8K
NOI $34,965 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Explore this area
Business Placement
Demographics for 36830, AL
47,543
Population
23,146
Households
2.1
Avg Household Size
30
Median Age
63%
College-Educated
96%
High-School Grad
109.5 sq mi
ZIP Area
434
Density / Sq Mi
$63,761
Median Household Income
$37,414
Median Earnings
$1,033
Median Rent
$346,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two 2BR/1BA units and a fenced backyard support a straightforward rental configuration.
Where is this duplex located?
The property is located at 1112/1114 OLD MILL Road Auburn, AL.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Duplex with two 2BR/1BA units totaling 2,048 square feet; 0.29‑acre property at 1112/1114 Old Mill Road, Auburn, AL 36830; New roof completed in 2024
