Five-Unit Multifamily
For Sale
$585,000
156-A Dudley Lane, Owens Cross Roads, AL 35763
MULTI_FAMILY - Owens Cross Roads, AL
Property Size3,588 SF
Lot Size2.40 Acres
Price / SF$163.04
Days on Market54
Property Features for 156-A Dudley Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Parking
10
Parking features
Parking Lot, Driveway, Off Street
Patio and Porch features
Deck
Appliances
Dishwasher, Dryer, Electric Water Heater, Refrigerator, Oven, W/D Hookup, Washer
Subdivision
Metes And Bounds
Elementary school
Owens Cross Roads
Middle school
New Hope (K-12)
High school
New Hope
Directions
431 S, Turn East On Hamer Rd, Turn North Onto Dudley Ln. Turn West Onto First Access Road, Units Are At Back Of Property.
Standard status
Active
Size
3,588 SF
Lot size
2.40 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Varies by Unit (Heating), Central
Cooling system
Central Air
Water source
Public
Water front features
Pond
Amenities
laundry room
in-unit washer/dryer
Building Details
Year built
2002
Floors in Building
1
Number of units
5
Listing Agency:
Endeavour Realty
(256) 384-4808
Listed By:
Lindsey Parker · License #122609
(256) 263-5451
Added: Jul 12
Changed: Aug 4
Last Checked: Sep 3 at 12:06PM
MLS# 21905930
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Investment Insights
Based on property information with market context.
This five-unit multifamily property includes two free-standing units and a triplex. The two free-standing units each have two bedrooms and one bathroom and share a dedicated laundry room with washer and dryer. The triplex contains one one-bedroom, one-bath unit and two two-bedroom, one-bath units, each with washer/dryer combo units. All five units are fully occupied.
The property sits on a large 2.4-acre lot and includes parking with a parking lot, driveway, and off-street spaces. There are five brand new front porches and four brand new HVAC units, and two units have brand new flooring. Tenants are responsible for utilities, with units on two utility meters. Water and sewer services are public.
Built in 2002, the property includes central cooling and heating that varies by unit, with electric and central systems noted. A deck and pond are listed as on-site features, along with listed appliances including dishwashers, ranges/ovens, refrigerators, and washer/dryer connections.
The property sits on a large 2.4-acre lot and includes parking with a parking lot, driveway, and off-street spaces. There are five brand new front porches and four brand new HVAC units, and two units have brand new flooring. Tenants are responsible for utilities, with units on two utility meters. Water and sewer services are public.
Built in 2002, the property includes central cooling and heating that varies by unit, with electric and central systems noted. A deck and pond are listed as on-site features, along with listed appliances including dishwashers, ranges/ovens, refrigerators, and washer/dryer connections.
Key Highlights
- Five units: two free‑standing units plus a triplex
- 2.4‑acre lot with room for additional buildings
- All five units fully occupied
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
$26,175
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
4.47%
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%
$523,500
$523.5K
Cap Rate 7%
$373,929
$373.9K
Cap Rate 9%
$290,833
$290.8K
Market Conditions
NOI Build-Up for 3,588 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
$45.2K $12.60/SF
− Vacancy
−$7.8K −$2.18/SF
EGI
$37.4K $10.42/SF
− OpEx
−$11.2K −$3.13/SF
NOI
$26.2K $7.30/SF
Area
Madison County, AL
Vacancy
17.29%
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%
$523,500
Cap Rate 7%
$373,929
Cap Rate 9%
$290,833
Alternative Uses
Best Use
Multifamily LT 5
$373.9K
$327.2K – $436.3K
NOI $26,175 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$323.8K
$283.3K – $377.7K
NOI $22,664 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 35763, AL
21,889
Population
7,281
Households
3
Avg Household Size
39
Median Age
58%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
536
Density / Sq Mi
$125,356
Median Household Income
$66,305
Median Earnings
$2,455
Median Rent
$368,300
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?
Apartment building - Five fully occupied units on a 2.4-acre lot with public water and sewer, plus new porches and HVAC.
Where is this apartment building located?
The property is located at 156-A Dudley Lane Owens Cross Roads, AL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Five units: two free‑standing units plus a triplex; 2.4‑acre lot with room for additional buildings; All five units fully occupied
