Two-Unit Duplex
New
For Sale
$239,000
167 Co Rd 620, Hanceville, AL 35077
MultiFamily, Hanceville, AL
Property Size1,550 SF
Lot Size0.75 Acres
Price / SF$154.19
Days on Market5
Property Features for 167 Co Rd 620
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Assigned
Patio and Porch features
Porch
Elementary school
Hanceville
Middle school
Hanceville
High school
Hanceville
Directions
Hwy 31 South towards Hanceville. Turn left onto Hopewell Drive, TR onto Co Rd 599 , TL onto Hopewell Rd, TL onto Co Rd 617 and then right onto Co Rd 620. Property is on the left.
Subdivision
Cullman
Standard status
Active
APN
43930
Size
1,550 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Description
New Legal Description
Tax Annual Amount
750
Legal Description
New Legal Description
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Building Details
Year built
2024
Number of units
2
Flooring type
Laminate
Building materials
Vinyl Siding
Listing Agency:
LEGACY REALTY GROUP LLC
(256) 841-5657
Listed By:
Kelly A Keel · License #64881
(256) 339-7671
Added: Sep 9
Last Checked: Sep 13 at 2:06AM
MLS# 531159
Copyright © 2026 Strategic MLS Alliance, INC. 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 2024 duplex contains two one-bedroom units with a combined property size of 1,550 square feet. Both residences are currently rented, providing an existing income-producing configuration for an owner seeking a smaller multifamily asset. Construction includes vinyl siding, laminate flooring, electric heating, wall unit cooling, and porch space.
The property encompasses 0.75 acres at 167 Co Rd 620 in Hanceville, Alabama, within Cullman County. Assigned parking serves the units, while water is available and the property uses a septic tank for sewer service. The duplex format, recent construction, and existing tenancy create a straightforward residential income property profile.
The property encompasses 0.75 acres at 167 Co Rd 620 in Hanceville, Alabama, within Cullman County. Assigned parking serves the units, while water is available and the property uses a septic tank for sewer service. The duplex format, recent construction, and existing tenancy create a straightforward residential income property profile.
Key Highlights
- Two 1‑bedroom units, both currently rented
- 1,550 square feet of property size
- 0.75‑acre parcel in Hanceville, AL
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
$9,130
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
3.82%
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%
$182,600
$182.6K
Cap Rate 7%
$130,429
$130.4K
Cap Rate 9%
$101,444
$101.4K
Market Conditions
NOI Build-Up for 1,550 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
$14.0K $9.00/SF
− Vacancy
−$907 −$0.59/SF
EGI
$13.0K $8.42/SF
− OpEx
−$3.9K −$2.52/SF
NOI
$9.1K $5.89/SF
Area
Cullman County, AL
Vacancy
6.50%
Lease Rate
$9.00 /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%
$182,600
Cap Rate 7%
$130,429
Cap Rate 9%
$101,444
Alternative Uses
Best Use
Multifamily LT 5
$130.4K
$114.1K – $152.2K
NOI $9,130 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$119.6K
$104.7K – $139.5K
NOI $8,372 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$228.5K
$200.0K – $266.6K
NOI $15,996 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 35077, AL
13,813
Population
6,045
Households
2.3
Avg Household Size
42
Median Age
14%
College-Educated
79%
High-School Grad
150.2 sq mi
ZIP Area
92
Density / Sq Mi
$47,720
Median Household Income
$29,221
Median Earnings
$822
Median Rent
$157,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both one-bedroom residences are leased and include assigned parking.
Where is this duplex located?
The property is located at 167 Co Rd 620 Hanceville, AL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Two 1‑bedroom units, both currently rented; 1,550 square feet of property size; 0.75‑acre parcel in Hanceville, AL
