Two-Unit Duplex with
For Sale
$229,000
14165 River Oaks Drive, Coden, AL 36523
Residential, Coden, AL
Property Size1,890 SF
Lot Size0.49 Acres
Price / SF$121.16
Days on Market334
Property Features for 14165 River Oaks Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Unzoned
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 3
Parking
6
Patio and Porch features
Patio, Porch
Interior features
Internet, Ceiling Fan(s)
Fireplace
1
Appliances
Refrigerator, Electric Range
Subdivision
Bayou Shores
Lot features
Level, Some Trees, Subdivision, Elevation Low, Less Than 1 Acre
Elementary school
Anna F. Booth
Middle school
Peter F. Alba Middle
High school
Alma Bryant
Directions
From Bellingrath Rd. (CR-59), turn right onto Bayou Shores Dr. Go 0.01 miles and turn right onto River Oaks Dr. Go 223 feet and duplex will be on your right.
Standard status
Active
APN
4308352000038XXX
Size
1,890 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Description
LOTS 9 & 10 BLK B BAYOU SHORES S/D MBK 11 PG 79 SECT 35 T7S R2W #SEC 35 T7S R2W #MP43 08 35 2 000
Tax Annual Amount
1672
Legal Description
LOTS 9 & 10 BLK B BAYOU SHORES S/D MBK 11 PG 79 SECT 35 T7S R2W #SEC 35 T7S R2W #MP43 08 35 2 000
Utilities
Heating system
Electric (Heating)
Building Details
Year built
2005
Floors in Building
1
Flooring type
Vinyl
Roof type
Composition
Architectural style
Other
Listing Agency:
EXIT Realty Promise
(251) 450-1481
Listed By:
Terry Shelburne · License #127317
(731) 695-5360
Added: Oct 3, 2025
Changed: Aug 19
Last Checked: Sep 1 at 6:06PM
MLS# 386375
Copyright © 2026 Baldwin 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 duplex contains 1,890 square feet across two separate residences. Unit A has two bedrooms and one bathroom, while Unit B provides three bedrooms and two bathrooms. Both sides include front and back yards, porches, vinyl flooring, electric heat, ceiling fans, and fireplaces. Refrigerators and electric ranges convey with the property, which was built in 2005.
The property is located at 14165 River Oaks Drive in Coden, within Bayou Shores subdivision and Mobile County. Bayou Jonas is about 200 yards away, with West Fowl River and Mobile Bay also identified in the surrounding area. Bellingrath Gardens is nearby, and Dauphin Island can be reached in about fifteen minutes. The property is designated Unzoned.
The property is located at 14165 River Oaks Drive in Coden, within Bayou Shores subdivision and Mobile County. Bayou Jonas is about 200 yards away, with West Fowl River and Mobile Bay also identified in the surrounding area. Bellingrath Gardens is nearby, and Dauphin Island can be reached in about fifteen minutes. The property is designated Unzoned.
Key Highlights
- 1,890 square feet across two separate duplex units
- Unit A includes 2 bedrooms and 1 bathroom; Unit B has 3 bedrooms and 2 bathrooms
- 0.49‑acre property in Bayou Shores subdivision
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
$15,586
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
6.81%
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%
$311,720
$311.7K
Cap Rate 7%
$222,657
$222.7K
Cap Rate 9%
$173,178
$173.2K
Market Conditions
NOI Build-Up for 1,890 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
$23.8K $12.60/SF
− Vacancy
−$1.5K −$0.82/SF
EGI
$22.3K $11.78/SF
− OpEx
−$6.7K −$3.53/SF
NOI
$15.6K $8.25/SF
Area
Mobile County, AL
Vacancy
6.50%
Lease Rate
$12.60 /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%
$311,720
Cap Rate 7%
$222,657
Cap Rate 9%
$173,178
Alternative Uses
Best Use
Multifamily LT 5
$222.7K
$194.8K – $259.8K
NOI $15,586 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$207.1K
$181.2K – $241.7K
NOI $14,499 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$465.7K
$407.5K – $543.3K
NOI $32,596 @ 7.0% cap · market cap 14.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 36523, AL
2,779
Population
1,201
Households
2.3
Avg Household Size
48
Median Age
19%
College-Educated
80%
High-School Grad
36.8 sq mi
ZIP Area
76
Density / Sq Mi
$57,988
Median Household Income
$28,684
Median Earnings
$863
Median Rent
$191,300
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 - Built in 2005, the property combines separate two- and three-bedroom layouts with front and back yards.
Where is this duplex located?
The property is located at 14165 River Oaks Drive Coden, AL.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: 1,890 square feet across two separate duplex units; Unit A includes 2 bedrooms and 1 bathroom; Unit B has 3 bedrooms and 2 bathrooms; 0.49‑acre property in Bayou Shores subdivision
