For Sale
$229,900
128 Heyward DR, Dothan, AL 36303
SINGLE_FAMILY - Dothan, AL
Property Size1,372 SF
Lot Size0.11 Acres
Price / SF$167.57
Days on Market27
Property Features for 128 Heyward DR
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Laundry Room, Bedroom 3, Bedroom 1, Bedroom 2, Dining Room, Bathroom 1, Laundry Room
Parking features
Garage - Attached
Appliances
Dishwasher, Dryer, Electric Water Heater, Microwave, Oven, Refrigerator, Washer
Subdivision
CLAYTON PLACE REP
Elementary school
Kelly Springs Elementary
Middle school
Dothan Prep/Carver 9th
High school
Dothan High School (Grades 10 - 12)
Standard status
Active
APN
09-02-03-1-008-011-000
Size
1,372 SF
Lot size
0.11 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Water front features
Waterfront
Building Details
Year built
2017
Floors in Building
1
Flooring type
Carpet, Vinyl
Architectural style
Other
Listing Agency:
Full Circle Realty
(334) 489-3299
Listed By:
Joc Calloway
(850) 209-1010
Added: Aug 6
Changed: Aug 13
Last Checked: Sep 1 at 3:06PM
MLS# 214186
Copyright © 2026 Southeast Alabama 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.
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
$7,506
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
3.26%
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%
$150,120
$150.1K
Cap Rate 7%
$107,229
$107.2K
Cap Rate 9%
$83,400
$83.4K
Market Conditions
NOI Build-Up for 1,372 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
$14.5K $10.56/SF
− Vacancy
−$840 −$0.61/SF
EGI
$13.6K $9.95/SF
− OpEx
−$6.1K −$4.48/SF
NOI
$7.5K $5.47/SF
Area
Houston County, AL
Vacancy
5.80%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$150,120
Cap Rate 7%
$107,229
Cap Rate 9%
$83,400
Alternative Uses
Best Use
Apartment 5plus
$107.2K
$93.8K – $125.1K
NOI $7,506 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$242.5K
$212.2K – $282.9K
NOI $16,975 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 36303, AL
31,080
Population
14,622
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
58.9 sq mi
ZIP Area
528
Density / Sq Mi
$53,006
Median Household Income
$34,504
Median Earnings
$855
Median Rent
$175,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
Where is this single family property located?
The property is located at 128 Heyward DR Dothan, AL.
What is the asking price?
The asking price for this property is $229,900.
