Renovated
For Sale
$210,000
1703 28th Avenue, Tuscaloosa, AL 35401
Residential, Tuscaloosa, AL
Property Size1,320 SF
Lot Size0.19 Acres
Price / SF$159.09
Days on Market55
Property Features for 1703 28th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2
Parking features
Driveway
Interior features
BreakfastBar, KitchenIsland
Fireplace
1
Appliances
ElectricWaterHeater
Subdivision
Van De Graaff
Elementary school
Central
Middle school
Westlawn
High school
Central
Directions
Turn right onto 15th St for 0.3 miles; then turn left onto 29th ave; turn left onto 16th st; right onto 28th ave for 0.1 miles the duplex will be on the left
Standard status
Active
APN
63 31 08 27 2 013 008.000
Size
1,320 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
Lot S 1/2 Of N 1/2 7 & 8 In Blk 352 In Van De Graaff Subd
Legal Description
Lot S 1/2 Of N 1/2 7 & 8 In Blk 352 In Van De Graaff Subd
Building Details
Year built
1924
Floors in Building
1
Building materials
WoodSiding
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
Keller Williams Tuscaloosa · Keller Williams Realty
(205) 759-3400
Listed By:
Arkintta Taylor
(334) 507-6101
Added: Jul 31
Changed: Sep 19
Last Checked: Sep 23 at 4:06AM
MLS# 176656
Copyright © 2026 West Alabama Multiple Listing Service. 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 at 1703 28th Avenue in Tuscaloosa offers 1,320 square feet on a 0.19-acre lot. The property was built in 1924 and has been renovated. Interior features include breakfast bars and kitchen islands, with an electric water heater serving the building. Wood siding, a composition shingle roof, a fireplace, and driveway parking are also present.
The property is located near the University of Alabama, downtown Tuscaloosa, and shopping destinations. Its layout includes two bedrooms and two bathrooms, supporting use as a residential income property with two separate units.
The property is located near the University of Alabama, downtown Tuscaloosa, and shopping destinations. Its layout includes two bedrooms and two bathrooms, supporting use as a residential income property with two separate units.
Key Highlights
- Duplex with 1,320 square feet on a 0.19‑acre lot
- Renovated property originally built in 1924
- Two bedrooms and two bathrooms
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
$11,922
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
5.68%
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%
$238,440
$238.4K
Cap Rate 7%
$170,314
$170.3K
Cap Rate 9%
$132,467
$132.5K
Market Conditions
NOI Build-Up for 1,320 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
$18.2K $13.80/SF
− Vacancy
−$1.2K −$0.90/SF
EGI
$17.0K $12.90/SF
− OpEx
−$5.1K −$3.87/SF
NOI
$11.9K $9.03/SF
Area
Tuscaloosa, AL
Vacancy
6.50%
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%
$238,440
Cap Rate 7%
$170,314
Cap Rate 9%
$132,467
Alternative Uses
Best Use
Multifamily LT 5
$170.3K
$149.0K – $198.7K
NOI $11,922 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$152.9K
$133.8K – $178.4K
NOI $10,705 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$317.2K
$277.6K – $370.1K
NOI $22,205 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Tuscaloosa property with driveway parking, kitchen islands, and wood siding.
Where is this duplex located?
The property is located at 1703 28th Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Duplex with 1,320 square feet on a 0.19‑acre lot; Renovated property originally built in 1924; Two bedrooms and two bathrooms
