Coastal Duplex with Gulf
For Sale
$625,000
1467 Sandy Lane, Gulf Shores, AL 36542
Residential, Gulf Shores, AL
Property Size2,247 SF
Price / SF$278.15
Days on Market15
Property Features for 1467 Sandy Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Dining Room, Bedroom 3, Bathroom 3, Bedroom 1
Window features
Window Treatments
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
En Suite, Internet, Ceiling Fan(s), High Ceilings, Termite Contract, Split Bedroom Plan
Exterior features
Storage
Appliances
Dryer, Washer, Disposal, Microwave, Dishwasher, Electric Range, Plumbed For Ice Maker
Subdivision
The Dunes
Lot features
Less Than 1 Acre
Elementary school
Foley Elementary
Middle school
Foley Middle
High school
Foley High
Directions
Head West on Fort Morgan road (hwy 180) approximately 20 miles. property is on the Gulf Side of the road.
Standard status
Active
APN
69-08-01-0-005-008.004.901
Size
2,247 SF
Taxes and HOA fees
Tax Description
Unit "A" Duplex At The Dunes Revised Slide 1907-B & 1908-A 5-18-00 Wb Ms100 Pg586 Ms89 Pg51 Gr Sec 1-T9s-R 1E (Wd)
Tax Annual Amount
1683
HOA Fee
$350 Quarterly
Legal Description
Unit "A" Duplex At The Dunes Revised Slide 1907-B & 1908-A 5-18-00 Wb Ms100 Pg586 Ms89 Pg51 Gr Sec 1-T9s-R 1E (Wd)
Utilities
Heating system
Electric (Heating)
Water front features
Beach Access
Water front
1
Amenities
community pool
spa
private beach access
gated community
deck
Building Details
Year built
1998
Floors in Building
2
Number of units
2
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Goode Realty, LLC
(251) 981-2929
Listed By:
Debbie E Fulmer · License #96663
(251) 269-2002
Added: Aug 27
Changed: Sep 9
Last Checked: Sep 10 at 5:06AM
MLS# 409747
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 2,247-square-foot duplex in The Dunes presents a three-bedroom, three-bathroom layout with an open main level, two decks, and Gulf-facing views. The living and dining areas connect to an upgraded kitchen featuring quartz countertops, custom tile work, newer stainless steel appliances, and wood-look tile flooring. Double-pane windows and a fortified metal roof add durable, energy-conscious improvements, while covered parking below provides room for vehicles, watercraft, and additional storage.
The gated community includes a pool and spa near the property, along with private pet-friendly beach access. Set in the Fort Morgan area of Gulf Shores, the property is positioned near boating, fishing, historical attractions, and restaurants. Built in 1998, it can serve as a rental investment property, vacation residence, or long-term home, subject to buyer verification during due diligence.
The gated community includes a pool and spa near the property, along with private pet-friendly beach access. Set in the Fort Morgan area of Gulf Shores, the property is positioned near boating, fishing, historical attractions, and restaurants. Built in 1998, it can serve as a rental investment property, vacation residence, or long-term home, subject to buyer verification during due diligence.
Key Highlights
- 2,247‑square‑foot duplex with 3 bedrooms and 3 bathrooms
- Gulf views from the living area and two spacious decks
- Upgraded kitchen with quartz counters, custom tile, and newer stainless steel appliances
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
$20,577
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
3.29%
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%
$411,540
$411.5K
Cap Rate 7%
$293,957
$294.0K
Cap Rate 9%
$228,633
$228.6K
Market Conditions
NOI Build-Up for 2,247 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
$31.0K $13.80/SF
− Vacancy
−$1.6K −$0.72/SF
EGI
$29.4K $13.08/SF
− OpEx
−$8.8K −$3.92/SF
NOI
$20.6K $9.16/SF
Area
Baldwin County, AL
Vacancy
5.20%
Lease Rate
$13.80 /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%
$411,540
Cap Rate 7%
$293,957
Cap Rate 9%
$228,633
Alternative Uses
Best Use
Multifamily LT 5
$294.0K
$257.2K – $343.0K
NOI $20,577 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$261.6K
$228.9K – $305.3K
NOI $18,315 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$540.4K
$472.8K – $630.4K
NOI $37,825 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 36542, AL
16,993
Population
18,551
Households
0.9
Avg Household Size
51
Median Age
38%
College-Educated
95%
High-School Grad
52.0 sq mi
ZIP Area
327
Density / Sq Mi
$74,861
Median Household Income
$35,580
Median Earnings
$1,365
Median Rent
$366,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Gated coastal community with Gulf views, private beach access, and pool and spa amenities.
Where is this duplex located?
The property is located at 1467 Sandy Lane Gulf Shores, AL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 2,247‑square‑foot duplex with 3 bedrooms and 3 bathrooms; Gulf views from the living area and two spacious decks; Upgraded kitchen with quartz counters, custom tile, and newer stainless steel appliances
