Two-Unit Duplex with
New
For Sale
$299,900
1259/1261 Britnee Ct, Auburn, AL 36830
Income property with two leased residences, private outdoor areas, and updated major systems.
Property Size1,784 SF
Price / SF$168.11
Days on Market3
Property Features for 1259/1261 Britnee Ct
General Information
Standard status
Active
Size
1,784 SF
Property subtype
Multi-Family
Building Details
Year Built
1999
Listing Agency:
The Denson Group
(205) 503-8655
Listed By:
Jessica Andrus
(334) 887-3425
Source:
Firstrealtysales
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 16 at 6:55PM
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 The Denson Group
Investment Insights
Based on property information with market context.
This 1,784-square-foot duplex, built in 1999, contains two 2BR/2BA residences with open-concept interiors, separate laundry rooms, front porches, and rear patios. One unit also includes a fenced backyard. Recent property updates include a roof replacement in 2022 and new ranges and stoves installed in September 2026. Refrigerators and water heaters are approximately 2 years old, while the HVAC systems and dishwashers are 2–3 years old.
Both residences are leased, with the lease for unit #1261 extending through 7/31/2027 and the lease for unit #1259 extending through 10/31/2026. The property has no HOA fees and is located in Auburn, Alabama, with access from Britnee Ct.
Both residences are leased, with the lease for unit #1261 extending through 7/31/2027 and the lease for unit #1259 extending through 10/31/2026. The property has no HOA fees and is located in Auburn, Alabama, with access from Britnee Ct.
Key Highlights
- Two 2BR/2BA units within a 1,784 SF duplex
- Both units are leased through 7/31/2027 and 10/31/2026
- Roof replaced in 2022
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
$15,248
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
5.08%
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%
$304,960
$305.0K
Cap Rate 7%
$217,829
$217.8K
Cap Rate 9%
$169,422
$169.4K
Market Conditions
NOI Build-Up for 1,784 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
$23.5K $13.20/SF
− Vacancy
−$1.8K −$0.99/SF
EGI
$21.8K $12.21/SF
− OpEx
−$6.5K −$3.66/SF
NOI
$15.2K $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%
$304,960
Cap Rate 7%
$217,829
Cap Rate 9%
$169,422
Alternative Uses
Best Use
Multifamily LT 5
$217.8K
$190.6K – $254.1K
NOI $15,248 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$203.8K
$178.3K – $237.8K
NOI $14,266 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$435.1K
$380.7K – $507.6K
NOI $30,458 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
802
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Income property with two leased residences, private outdoor areas, and updated major systems.
Where is this duplex located?
The property is located at 1259/1261 Britnee Ct Auburn, AL.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two 2BR/2BA units within a 1,784 SF duplex; Both units are leased through 7/31/2027 and 10/31/2026; Roof replaced in 2022
