Remodeled
New
For Sale
$410,000
1901 N Alston St, Foley, AL 36535
Two refreshed units come furnished, with no HOA.
Property Size1,833 SF
Price / SF$223.68
Days on Market5
Property Features for 1901 N Alston St
General Information
Standard status
Active
Size
1,833 SF
Property subtype
Residential Income
Additional Details
Furnished
Yes
Multifamily Units
2
Listing Agency:
Luxury Coastal Vacations, LLC
(850) 316-4573
Listed By:
Dylan Chastain · License #158021-1
(763) 228-1126
Source:
Exprealty
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 3:37PM
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 Luxury Coastal Vacations, LLC
Investment Insights
Based on property information with market context.
This duplex contains two units across 1,833 square feet, with updated interiors and furnishings included. The layout supports separate residential spaces within one property, and the absence of an HOA provides flexibility in ownership and property use.
Located on N Alston St in Foley, the property is offered for sale.
Located on N Alston St in Foley, the property is offered for sale.
Key Highlights
- Two‑unit residential property
- 1,833 square feet of interior space
- Remodeled with refreshed interiors
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
$16,786
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
4.09%
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%
$335,720
$335.7K
Cap Rate 7%
$239,800
$239.8K
Cap Rate 9%
$186,511
$186.5K
Market Conditions
NOI Build-Up for 1,833 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
$25.3K $13.80/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$24.0K $13.08/SF
− OpEx
−$7.2K −$3.92/SF
NOI
$16.8K $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%
$335,720
Cap Rate 7%
$239,800
Cap Rate 9%
$186,511
Alternative Uses
Best Use
Multifamily LT 5
$239.8K
$209.8K – $279.8K
NOI $16,786 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$213.4K
$186.8K – $249.0K
NOI $14,941 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$440.8K
$385.7K – $514.3K
NOI $30,856 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 refreshed units come furnished, with no HOA.
Where is this duplex located?
The property is located at 1901 N Alston St Foley, AL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit residential property; 1,833 square feet of interior space; Remodeled with refreshed interiors
