Renovated Three-Unit
2121 WINONA Avenue, Montgomery, AL 36107
For Sale
$239,000
Under Contract
ResidentialIncome, Montgomery, AL
Property Size2,484 SF
Price / SF$96.22
Days on Market55
Property Features for 2121 WINONA Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Interior features
Appliances
Subdivision
Middle school
Directions
Standard status
APN
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Listing Agency:
eXp Realty, LLC.
Listed By:
Nicholas A. Armistead · License AL #0116812
(888) 923-5547
Added: Sep 17
Changed: Oct 28
Last Checked: Nov 10 at 7:06PM
MLS# 590611
Copyright © 2026 Montgomery Area Association of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This three-unit residential property at 2121 Winona Avenue contains approximately 2,484 square feet and was built in 1930. The unit mix includes a two-bedroom, one-bath residence, a one-bedroom unit with one and a half baths, and a one-bedroom, one-bath residence. Renovations were completed before the current owner acquired the property approximately five years ago.
Interior features include breakfast areas and living-dining rooms, with a combination of carpet and wood flooring. The property has gas ranges, gas water heaters, refrigerators, window units, ceiling fans, and space-heater service. Brick and stucco construction, public water, and public sewer are also in place. Professional management is provided by River Region Rentals.
Interior features include breakfast areas and living-dining rooms, with a combination of carpet and wood flooring. The property has gas ranges, gas water heaters, refrigerators, window units, ceiling fans, and space-heater service. Brick and stucco construction, public water, and public sewer are also in place. Professional management is provided by River Region Rentals.
Key Highlights
- Three‑unit property totaling approximately 2,484 square feet
- Unit mix includes 2‑bedroom, 1‑bath; 1‑bedroom, 1.5‑bath; and 1‑bedroom, 1‑bath residences
- Built in 1930 with renovations completed approximately five years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,469
Cap Rate
8.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,380
$429.4K
Cap Rate 7%
$306,700
$306.7K
Cap Rate 9%
$238,544
$238.5K
Market Conditions
NOI Build-Up for 2,484 SF
Gross rent
$32.8K $13.20/SF
− Vacancy
−$2.1K −$0.85/SF
EGI
$30.7K $12.35/SF
− OpEx
−$9.2K −$3.70/SF
NOI
$21.5K $8.64/SF
Area
Montgomery, AL
Vacancy
6.46%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,380
Cap Rate 7%
$306,700
Cap Rate 9%
$238,544
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.4K – $357.8K
NOI $21,469 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$283.8K
$248.3K – $331.1K
NOI $19,863 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$515.1K
$450.7K – $600.9K
NOI $36,056 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
407
Businesses Nearby
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Business Placement
Demographics for 36107, AL
8,418
Population
3,995
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
84%
High-School Grad
3.2 sq mi
ZIP Area
2,631
Density / Sq Mi
$31,895
Median Household Income
$27,173
Median Earnings
$883
Median Rent
$69,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Brick-and-stucco residential property with three distinct units, public utilities, and professional management in Montgomery.
Where is this triplex located?
The property is located at 2121 WINONA Avenue Montgomery, AL.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Three‑unit property totaling approximately 2,484 square feet; Unit mix includes 2‑bedroom, 1‑bath; 1‑bedroom, 1.5‑bath; and 1‑bedroom, 1‑bath residences; Built in 1930 with renovations completed approximately five years ago
