Five-Unit Townhouse Apartment
For Sale
$600,000
1801 Glenn Street, Decatur, AL 35603
MULTI_FAMILY - Decatur, AL
Property Size6,624 SF
Lot Size0.36 Acres
Price / SF$90.58
Days on Market149
Property Features for 1801 Glenn Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
10
Patio and Porch features
Patio
Exterior features
Curb/Gutters
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Glenndale
Elementary school
Austinville
Middle school
Austin Middle
High school
Austin
Directions
Hwy 67(Beltline) Towards Hwy 20, Left On Glenn Street By Publix Shopping Center, Building Will Be On The Left
Standard status
Active
Size
6,624 SF
Lot size
0.36 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
2
Number of units
5
Listing Agency:
Southern Oak Properties, Inc
(256) 350-2424
Listed By:
Blake Wright · License #88094
(256) 345-5900
Added: Apr 6
Changed: Jul 28
Last Checked: Sep 1 at 10:06PM
MLS# 21908754
Copyright © 2026 ValleyMLS.Com,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 6,624-square-foot multifamily property includes five townhouses on 0.3599 acres, with each residence held as an individually deeded lot. The unit mix consists of three three-bedroom townhouses and two two-bedroom townhouses. Built in 1988, the property is offered as-is and includes patios, central air, electric heat, electric water heaters, ovens, refrigerators, dishwashers, and washer/dryer hookups.
Located at 1801 Glenn Street in Decatur, the property sits near the Beltline, shopping, and restaurants. Public water and public sewer serve the site. Tenants pay their own utilities, while the owner maintains the lawn across all five units. Curb and gutter improvements are also present.
Located at 1801 Glenn Street in Decatur, the property sits near the Beltline, shopping, and restaurants. Public water and public sewer serve the site. Tenants pay their own utilities, while the owner maintains the lawn across all five units. Curb and gutter improvements are also present.
Key Highlights
- Five townhouses sold together as one multifamily property
- Each townhouse occupies an individually deeded lot
- 6,624 square feet on 0.3599 acres
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
$50,440
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
8.41%
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%
$1,008,800
$1.0M
Cap Rate 7%
$720,571
$720.6K
Cap Rate 9%
$560,444
$560.4K
Market Conditions
NOI Build-Up for 6,624 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
$97.8K $14.76/SF
− Vacancy
−$6.1K −$0.92/SF
EGI
$91.7K $13.84/SF
− OpEx
−$41.3K −$6.23/SF
NOI
$50.4K $7.61/SF
Area
Morgan County, AL
Vacancy
6.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$1,008,800
Cap Rate 7%
$720,571
Cap Rate 9%
$560,444
Alternative Uses
Best Use
Apartment 5plus
$720.6K
$630.5K – $840.7K
NOI $50,440 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,467 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 35603, AL
32,380
Population
14,509
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
71.0 sq mi
ZIP Area
456
Density / Sq Mi
$78,237
Median Household Income
$47,458
Median Earnings
$857
Median Rent
$235,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Five separately deeded townhouses offer a compact multifamily configuration near shopping, restaurants, and the Beltline.
Where is this apartment building located?
The property is located at 1801 Glenn Street Decatur, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Five townhouses sold together as one multifamily property; Each townhouse occupies an individually deeded lot; 6,624 square feet on 0.3599 acres
