Duplex with Attached
For Sale
$440,000
16985 State Highway 104, Silverhill, AL 36576
Residential, Silverhill, AL
Property Size2,309 SF
Lot Size0.80 Acres
Price / SF$190.56
Days on Market92
Property Features for 16985 State Highway 104
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Dining Room, Bathroom 2, Laundry Room, Bathroom 1, Bedroom 1, Utility Room, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 4
Parking features
Open, Garage
Pets allowed
Yes
Interior features
En Suite, Storage, Ceiling Fan(s), High Ceilings, Termite Contract, Handicap Accessible
Accessibility
Accessible Approach with Ramp
Appliances
Dryer, Washer, Microwave, Dishwasher, Refrigerator, Electric Range, Smoke Detector
Lot features
Level, Some Trees, Elevation High, Less Than 1 Acre
Elementary school
Silverhill Elementary
Middle school
Central Baldwin Middle
High school
Robertsdale High
Directions
From the intersection of State Hwy 104 and Co. Rd. 55 (Broad St.) go east on 104 for 1 mile. Home is on the left just before Hill and Dale Dr. W.
Subdivision
Baldwin
Standard status
Active
APN
47-01-02-4-000-006.005
Size
2,309 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
189.7 X 180 Lot 1 Rick & Sharon Byrnes Sub Slide 1970-B I N The City Of Silverhill Sec 2-T6s-R3e (Qcd)
Tax Annual Amount
3087
Legal Description
189.7 X 180 Lot 1 Rick & Sharon Byrnes Sub Slide 1970-B I N The City Of Silverhill Sec 2-T6s-R3e (Qcd)
Utilities
Heating system
Electric (Heating)
Amenities
detached storage unit
Building Details
Year built
2001
Floors in Building
1
Flooring type
Engineered, Other floors/see remarks
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Bellator Real Estate, LLC Fairhope
(251) 990-8838
Listed By:
Terryl Reeves · License #81038-3
(251) 928-0031
Added: Jun 5
Changed: Sep 2
Last Checked: Sep 4 at 2:06PM
MLS# 397682
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 2,309 square feet across two residential units on a 0.8-acre lot. Each unit includes spacious living and dining areas, tall ceilings, numerous windows, an attached single-car garage, and a primary suite with elevated ceilings, an ensuite bath, and a walk-in closet. Interior features also include laundry areas, storage, ceiling fans, and handicap accessibility with an approach ramp.
Built in 2001, the property has a durable metal roof and a detached 12X20 storage unit. The address is 16985 State Highway 104 in Silverhill, Baldwin County, Alabama, within postal code 36576. The site may accommodate an additional home or duplex, subject to local approvals, and includes open parking in addition to the attached garages.
Built in 2001, the property has a durable metal roof and a detached 12X20 storage unit. The address is 16985 State Highway 104 in Silverhill, Baldwin County, Alabama, within postal code 36576. The site may accommodate an additional home or duplex, subject to local approvals, and includes open parking in addition to the attached garages.
Key Highlights
- Two‑unit duplex totaling 2,309 square feet
- 0.8‑acre lot with potential for an additional home or duplex, subject to local approvals
- Each unit includes an attached single‑car garage
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
$21,145
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
4.81%
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%
$422,900
$422.9K
Cap Rate 7%
$302,071
$302.1K
Cap Rate 9%
$234,944
$234.9K
Market Conditions
NOI Build-Up for 2,309 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
$31.9K $13.80/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$30.2K $13.08/SF
− OpEx
−$9.1K −$3.92/SF
NOI
$21.1K $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%
$422,900
Cap Rate 7%
$302,071
Cap Rate 9%
$234,944
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.3K – $352.4K
NOI $21,145 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$268.9K
$235.3K – $313.7K
NOI $18,821 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$555.3K
$485.9K – $647.8K
NOI $38,869 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 36576, AL
5,228
Population
2,183
Households
2.4
Avg Household Size
40
Median Age
21%
College-Educated
93%
High-School Grad
19.5 sq mi
ZIP Area
268
Density / Sq Mi
$78,227
Median Household Income
$43,992
Median Earnings
$985
Median Rent
$235,600
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 - Two residential units offer tall ceilings, ensuite primary suites, and abundant natural light.
Where is this duplex located?
The property is located at 16985 State Highway 104 Silverhill, AL.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,309 square feet; 0.8‑acre lot with potential for an additional home or duplex, subject to local approvals; Each unit includes an attached single‑car garage
