Two-Home Multifamily
For Sale
$237,000
12978 Mary Lee Ave, Cottondale, AL 35453
Two residential units share a parcel with an additional lot, workshop, and separate storage outbuilding.
Property Size1,108 SF
Price / SF$213.90
Days on Market86
Property Features for 12978 Mary Lee Ave
General Information
Standard status
Active
Size
1,108 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
handicap accessible
workshop
storage
Building Details
Year Built
1950
Listing Agency:
Pritchett Moore Real Estate
Listed By:
Kathy Acker · License #118596368
(205) 349-6500
Source:
Advantagerealtygroup
Added: Jul 23
Changed: Oct 2
Last Checked: Oct 14 at 8:16PM
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 Pritchett Moore Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property includes two homes on the parcel. One residence offers two bedrooms and one bath with handicap accessibility. The second home measures 812 square feet and also includes two bedrooms and one bath. A large workshop and a separate outbuilding provide additional functional space, while an extra lot lies between the residences.
Constructed in 1950, the property is located at 12978 Mary Lee Ave in Cottondale, Alabama. The configuration supports multifamily ownership, with the option to occupy one home while leasing the other.
Constructed in 1950, the property is located at 12978 Mary Lee Ave in Cottondale, Alabama. The configuration supports multifamily ownership, with the option to occupy one home while leasing the other.
Key Highlights
- Two homes, each with 2 bedrooms and 1 bath
- One residence is handicap accessible
- Second home measures 812 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,986
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,720
$179.7K
Cap Rate 7%
$128,371
$128.4K
Cap Rate 9%
$99,844
$99.8K
Market Conditions
NOI Build-Up for 1,108 SF
Gross rent
$17.4K $15.72/SF
− Vacancy
−$1.1K −$0.97/SF
EGI
$16.3K $14.75/SF
− OpEx
−$7.4K −$6.64/SF
NOI
$9.0K $8.11/SF
Area
Tuscaloosa, AL
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$179,720
Cap Rate 7%
$128,371
Cap Rate 9%
$99,844
Alternative Uses
Best Use
Apartment 5plus
$128.4K
$112.3K – $149.8K
NOI $8,986 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$266.3K
$233.0K – $310.6K
NOI $18,638 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Explore this area
Business Placement
Demographics for 35453, AL
12,682
Population
5,215
Households
2.4
Avg Household Size
38
Median Age
16%
College-Educated
89%
High-School Grad
90.4 sq mi
ZIP Area
140
Density / Sq Mi
$70,162
Median Household Income
$39,306
Median Earnings
$969
Median Rent
$190,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residential units share a parcel with an additional lot, workshop, and separate storage outbuilding.
Where is this multifamily property located?
The property is located at 12978 Mary Lee Ave Cottondale, AL.
What is the asking price?
The asking price for this property is $237,000.
What are key features of this property?
This property features: Two homes, each with 2 bedrooms and 1 bath; One residence is handicap accessible; Second home measures 812 square feet
