Tenant-Occupied
For Sale
$164,900
19 Gulf Street, Mobile, AL 36611
Two one-bedroom residences offer separate living areas, screened porches, and existing rental occupancy.
Property Size1,592 SF
Price / SF$103.58
Days on Market10
Property Features for 19 Gulf Street
General Information
Standard status
Active
Size
1,592 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,382
Amenities
screened porch
Building Details
Year Built
1977
Buildings
1
Tenancy
Multi
Listing Agency:
IXL Real Estate-Eastern Shore
(251) 767-4478
Listed By:
Marty Harris · License #133391
(251) 767-4478
Source:
Exitrealty
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 6:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of IXL Real Estate-Eastern Shore
Investment Insights
Based on property information with market context.
This duplex contains 1,592 square feet arranged as two separate one-bedroom, one-bath residences of approximately 796 square feet each. Both units are occupied by tenants and are generating rental income. Built in 1977, the property includes high ceilings, screened porch areas, abundant natural light, wood-look flooring, neutral finishes, white cabinetry, and decorative fireplace features.
Mature shade trees surround the building, while each residence has access to a screened porch that adds usable outdoor space. The property is located in Chickasaw with nearby shopping and restaurants. Its two-unit layout, existing occupants, and separate residential spaces provide a clearly defined multifamily configuration.
Mature shade trees surround the building, while each residence has access to a screened porch that adds usable outdoor space. The property is located in Chickasaw with nearby shopping and restaurants. Its two-unit layout, existing occupants, and separate residential spaces provide a clearly defined multifamily configuration.
Key Highlights
- 1,592‑square‑foot duplex with two separate residences
- Two 1‑bedroom, 1‑bath units, each approximately 796 square feet
- Both units are tenant‑occupied and generating rental income
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
$14,225
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
8.63%
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%
$284,500
$284.5K
Cap Rate 7%
$203,214
$203.2K
Cap Rate 9%
$158,056
$158.1K
Market Conditions
NOI Build-Up for 1,592 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
$22.0K $13.80/SF
− Vacancy
−$1.6K −$1.04/SF
EGI
$20.3K $12.77/SF
− OpEx
−$6.1K −$3.83/SF
NOI
$14.2K $8.94/SF
Area
Mobile, AL
Vacancy
7.50%
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%
$284,500
Cap Rate 7%
$203,214
Cap Rate 9%
$158,056
Alternative Uses
Best Use
Multifamily LT 5
$203.2K
$177.8K – $237.1K
NOI $14,225 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$404.6K
$354.1K – $472.1K
NOI $28,324 @ 7.0% cap · market cap 17.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Explore this area
Business Placement
Demographics for 36611, AL
6,457
Population
2,713
Households
2.4
Avg Household Size
36
Median Age
12%
College-Educated
88%
High-School Grad
4.9 sq mi
ZIP Area
1,318
Density / Sq Mi
$42,854
Median Household Income
$30,553
Median Earnings
$945
Median Rent
$110,300
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?
Duplex - Two one-bedroom residences offer separate living areas, screened porches, and existing rental occupancy.
Where is this duplex located?
The property is located at 19 Gulf Street Mobile, AL.
What is the asking price?
The asking price for this property is $164,900.
What are key features of this property?
This property features: 1,592‑square‑foot duplex with two separate residences; Two 1‑bedroom, 1‑bath units, each approximately 796 square feet; Both units are tenant‑occupied and generating rental income
