All-Brick Quadplex with
For Sale
$425,000
1803 Graymont Lane, Decatur, AL 35603
Residential Income, Decatur, AL
Property Size3,448 SF
Lot Size0.25 Acres
Price / SF$123.26
Days on Market92
Property Features for 1803 Graymont Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Off Street
Patio and Porch features
Porch, Patio
Exterior features
Balcony
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup
Subdivision
Glenmier
Elementary school
Austinville
Middle school
Austin Middle
High school
Austin
Directions
From Beltline, Turn Left Onto Glenn Street, Then Right On Windover, Then Left On Graymont, 2nd Building On The Left
Standard status
Active
APN
02 07 36 3 000 005.013
Size
3,448 SF
Lot size
0.25 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 429-9360
Added: Jul 15
Changed: Oct 14
Last Checked: Oct 14 at 6:06AM
MLS# 21879320
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 3,448-square-foot quadplex was built in 1985 and features all-brick construction, four residential units, balconies, patios, and porches. Unit amenities include ovens, refrigerators, dishwashers, and washer/dryer hookups. Central electric heating and central air conditioning serve the property, while off-street parking is available. The building is reported to be fully occupied and in good condition.
Located at 1803 Graymont Lane in Decatur, the property sits on a 0.25-acre lot with access to public water and public sewer. Tenants pay electric service, while ownership pays water and trash. Shopping and restaurants are located nearby.
Located at 1803 Graymont Lane in Decatur, the property sits on a 0.25-acre lot with access to public water and public sewer. Tenants pay electric service, while ownership pays water and trash. Shopping and restaurants are located nearby.
Key Highlights
- 3,448‑square‑foot quadplex built in 1985
- All‑brick building with four residential units
- Fully occupied and reported in good condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,435
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,700
$568.7K
Cap Rate 7%
$406,214
$406.2K
Cap Rate 9%
$315,944
$315.9K
Market Conditions
NOI Build-Up for 3,448 SF
Gross rent
$43.4K $12.60/SF
− Vacancy
−$2.8K −$0.82/SF
EGI
$40.6K $11.78/SF
− OpEx
−$12.2K −$3.53/SF
NOI
$28.4K $8.25/SF
Area
Morgan County, AL
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$568,700
Cap Rate 7%
$406,214
Cap Rate 9%
$315,944
Alternative Uses
Best Use
Multifamily LT 5
$406.2K
$355.4K – $473.9K
NOI $28,435 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$375.1K
$328.2K – $437.6K
NOI $26,255 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$717.3K
$627.7K – $836.9K
NOI $50,214 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
100%
Occupancy
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
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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?
Quadplex - Fully occupied quadplex with all-brick construction, off-street parking, and public water and sewer service.
Where is this quadplex located?
The property is located at 1803 Graymont Lane Decatur, AL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,448‑square‑foot quadplex built in 1985; All‑brick building with four residential units; Fully occupied and reported in good condition
