Spacious Duplex with Screened
For Sale
$139,900
803 & 805 Blue Ridge Drive, Anniston, AL 36207
Investment duplex featuring fresh paint, new flooring, and private backyard.
Property Size2,020 SF
Price / SF$69.26
Days on Market849
Property Features for 803 & 805 Blue Ridge Drive
General Information
Standard status
Active
Size
2,020 SF
Property subtype
Multi Family
Building Details
Year Built
1953
Listing Agency:
Harris McKay Realty
(256) 236-0377
Listed By:
Ed Kelley
(205) 222-5909
Source:
Exitrealty
Added: May 14, 2024
Changed: Sep 8
Last Checked: Jul 17 at 4:20PM
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 Harris McKay Realty
Investment Insights
Based on property information with market context.
This investment property features a duplex, each unit containing 2 bedrooms and 1 full bath. The interiors have been freshly painted, and the kitchens feature new flooring. Hardwood flooring is present throughout the units. Each unit includes a covered screened-in porch. Residents can enjoy a large and private backyard.
Key Highlights
- Spacious 2‑bedroom units offer comfortable living.
- Duplex structure provides investment opportunity.
- Freshly painted interior enhances appeal.
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
$11,899
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
8.51%
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%
$237,980
$238.0K
Cap Rate 7%
$169,986
$170.0K
Cap Rate 9%
$132,211
$132.2K
Market Conditions
NOI Build-Up for 2,020 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
$18.2K $9.00/SF
− Vacancy
−$1.2K −$0.59/SF
EGI
$17.0K $8.42/SF
− OpEx
−$5.1K −$2.52/SF
NOI
$11.9K $5.89/SF
Area
Calhoun County, AL
Vacancy
6.50%
Lease Rate
$9.00 /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%
$237,980
Cap Rate 7%
$169,986
Cap Rate 9%
$132,211
Alternative Uses
Best Use
Multifamily LT 5
$170.0K
$148.7K – $198.3K
NOI $11,899 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$152.2K
$133.2K – $177.5K
NOI $10,652 @ 7.0% cap · market cap 7.61%
Theoretical Best
Healthcare Medical
$310.5K
$271.7K – $362.3K
NOI $21,738 @ 7.0% cap · market cap 15.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
392
Businesses Nearby
Explore this area
Business Placement
Demographics for 36207, AL
19,553
Population
9,260
Households
2.1
Avg Household Size
44
Median Age
32%
College-Educated
90%
High-School Grad
74.8 sq mi
ZIP Area
261
Density / Sq Mi
$70,090
Median Household Income
$39,898
Median Earnings
$890
Median Rent
$195,000
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 - Investment duplex featuring fresh paint, new flooring, and private backyard.
Where is this duplex located?
The property is located at 803 & 805 Blue Ridge Drive Anniston, AL.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Spacious 2‑bedroom units offer comfortable living.; Duplex structure provides investment opportunity.; Freshly painted interior enhances appeal.
