Vestavia Hills Condo with
For Sale
$139,000
2097 MONTREAT CIRCLE #2097 VESTAVIA, Birmingham, AL 35216
Corner unit condo in Vestavia Hills with renovated bathrooms.
Property Size1,034 SF
Price / SF$134.43
Days on Market501
Property Features for 2097 MONTREAT CIRCLE #2097 VESTAVIA
General Information
Standard status
Active
Size
1,034 SF
Property subtype
Condominium
Amenities
Cooling: Central (COOL), Electric (COOL)
Heating: Central (HEAT), Electric (HEAT)
Pool, Dishwasher Built-In, Disposal, Oven-Electric, Refrigerator, Stove-Electric
Building Details
Year Built
1967
Listing Agency:
RealtySouth-OTM-Acton Rd
(205) 978-9000
Listed By:
Mark Bishop · License #76715
(205) 994-1621
Source:
Kw
Added: Apr 19, 2025
Changed: Aug 26
Last Checked: Aug 31 at 1:26AM
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 RealtySouth-OTM-Acton Rd
Investment Insights
Based on property information with market context.
This corner unit condominium is located in Vestavia Hills. The property features a large living room and two renovated bathrooms. There are two bedrooms, one of which has an ensuite bathroom. Residents have access to a community pool. The property size is 1034 square feet.
Key Highlights
- Bottom, corner unit condo offers enhanced privacy and accessibility.
- Completely renovated bathrooms provide modern comfort and style.
- Large living room offers ample space for relaxation and entertainment.
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
$7,457
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
5.36%
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%
$149,140
$149.1K
Cap Rate 7%
$106,529
$106.5K
Cap Rate 9%
$82,856
$82.9K
Market Conditions
NOI Build-Up for 1,034 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
$15.0K $14.52/SF
− Vacancy
−$1.5K −$1.41/SF
EGI
$13.6K $13.11/SF
− OpEx
−$6.1K −$5.90/SF
NOI
$7.5K $7.21/SF
Area
Birmingham, AL
Vacancy
9.70%
Lease Rate
$14.52 /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%
$149,140
Cap Rate 7%
$106,529
Cap Rate 9%
$82,856
Alternative Uses
Best Use
Apartment 5plus
$106.5K
$93.2K – $124.3K
NOI $7,457 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$242.7K
$212.4K – $283.2K
NOI $16,989 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 35216, AL
36,673
Population
16,333
Households
2.2
Avg Household Size
35
Median Age
53%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
2,821
Density / Sq Mi
$73,125
Median Household Income
$42,767
Median Earnings
$1,314
Median Rent
$376,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Corner unit condo in Vestavia Hills with renovated bathrooms.
Where is this apartment building located?
The property is located at 2097 MONTREAT CIRCLE #2097 VESTAVIA Birmingham, AL.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: Bottom, corner unit condo offers enhanced privacy and accessibility.; Completely renovated bathrooms provide modern comfort and style.; Large living room offers ample space for relaxation and entertainment.
