Two-Unit Residential Income
2215 Forest Lake Drive Tuscaloosa, AL 35401
For Sale
$549,900
Duplex-style income property with two 3-bedroom, 2-bath units and laminate and ceramic tile finishes.
Property Size2,380 SF
Price / SF$231.05
Days on Market3018
Property Features for 2215 Forest Lake Drive
General Information
- Standard status
- Active
- Size
- 2,380 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 2008
Listing Agency:
HAMNER REAL ESTATE
(205) 345-0654
Listed By:
Hunter Spidle
(205) 499-6104
Source:
Xome
Added: Apr 20, 2018
Changed: Jul 21
Last Checked: Jul 23 at 4:29AM
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 HAMNER REAL ESTATE
Investment Insights
Based on property information with market context.
This two-unit residential income property features a duplex-style layout with two separate units. Each unit includes three bedrooms and two bathrooms. Interior finishes noted include laminate flooring in common areas and bedrooms, with ceramic tile in the kitchen and bathrooms, along with additional flooring detail referenced in the listing remarks.
The property is located in the Forest Lake Subdivision and is described as being near campus, Legacy Park, Interstate 20/59, and Midtown Village, supporting convenient access to area destinations.
From a practical leasing and management perspective, the consistent unit configuration—each with 3 bedrooms and 2 bathrooms—can simplify planning for showings, maintenance scheduling, and tenant onboarding while maintaining a uniform interior finish package across the two units.
The property is located in the Forest Lake Subdivision and is described as being near campus, Legacy Park, Interstate 20/59, and Midtown Village, supporting convenient access to area destinations.
From a practical leasing and management perspective, the consistent unit configuration—each with 3 bedrooms and 2 bathrooms—can simplify planning for showings, maintenance scheduling, and tenant onboarding while maintaining a uniform interior finish package across the two units.
Key Highlights
- Duplex‑style income property with two units, each featuring 3 bedrooms and 2 bathrooms
- Built in 2008 with laminate flooring in common areas and bedrooms, and ceramic tile in the kitchen and bathrooms
- Window/wall unit A/C with ceiling fans, plus smoke/fire alarm system
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.8k | $13.80 |
| − Vacancy | −$2.1k | −$0.90 |
| EGI | $30.7k | $12.90 |
| − OpEx | −$9.2k | −$3.87 |
| NOI | $21.5k | $9.03 |
2,380 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$307.1K
$268.7K – $358.3K
NOI $21,496 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$275.7K
$241.3K – $321.7K
NOI $19,302 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$571.9K
$500.4K – $667.3K
NOI $40,035 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex-style income property with two 3-bedroom, 2-bath units and laminate and ceramic tile finishes.
Where is this duplex located?
The property is located at 2215 Forest Lake Drive Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Duplex‑style income property with two units, each featuring 3 bedrooms and 2 bathrooms; Built in 2008 with laminate flooring in common areas and bedrooms, and ceramic tile in the kitchen and bathrooms; Window/wall unit A/C with ceiling fans, plus smoke/fire alarm system
