Duplex with Month-to-Month
23888 US Highway 98 Elberta, AL 36530
23888 US Highway 98, Elberta, AL, 36530
$429,000
For Sale
$429,000
SINGLE_FAMILY - Elberta, AL
Property Size2,800 SF
Lot Size0.40 Acres
Price / SF$153.21
Days on Market166
Property Features for 23888 US Highway 98
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 6, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3
- Parking features
- On Street
- Fireplace
- 1
- Appliances
- Dishwasher, Microwave, Range-Electric, Refrigerator w/Ice Maker
- Standard status
- Active
- APN
- 54-07-25-0-000-002.027
- Size
- 2,800 SF
- Lot size
- 0.40 Acres
Taxes and HOA fees
- Tax Description
- 52(S) X 158(S) Irr That Pt Of Lot 3 Cotton Sub Slide 1898- B Desc As Fm Se Cor Of Lot 3 Th Run N 153(S) For The Pob, T H W 49(S), Th Nw 25(S), Th W 80(S), Th N 64(S), Th Ne 12 0.6, Th E 36.5, Th S 158(S) To The Pob Sec 25- T7s-R2e (Sp Wd)
Building Details
- Year built
- 2004
- Floors in Building
- 2
- Flooring type
- Tile
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
Beachball Properties
(251) 968-8896
22989 Perdido Beach Blvd, Gulf Shores, AL
Listed by
Jonathan Bennett · License #110875
(251) 424-5682
Added: Feb 1 Checked: Jul 17 at 11:06 pm
MLS# 391140
Listing URL
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property includes two occupied units on month-to-month leases. The home sits on an approximately 0.37-acre parcel and provides ample parking for residents and visitors. Recent updates include a metal roof installed in 2020, HVAC replacement in 2018, and a full PEX plumbing replacement completed in 2022.
The property is located just off U.S. Highway 98 in the Elberta/Foley area, offering convenient access to nearby Baldwin County communities.
The buyer should verify all information deemed important during due diligence, including any details related to the property and tenancy.
The property is located just off U.S. Highway 98 in the Elberta/Foley area, offering convenient access to nearby Baldwin County communities.
The buyer should verify all information deemed important during due diligence, including any details related to the property and tenancy.
Key Highlights
- Duplex on an approximately 0.37‑acre parcel just off U.S. Highway 98 in the Elberta/Foley area
- Month‑to‑month leases in place with both units currently occupied
- Metal roof installed in 2020
Local 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 | $38.6k | $13.80 |
| − Vacancy | −$2.0k | −$0.72 |
| EGI | $36.6k | $13.08 |
| − OpEx | −$11.0k | −$3.92 |
| NOI | $25.6k | $9.16 |
2,800 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$366.3K
$320.5K – $427.4K
NOI $25,642 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$326.0K
$285.3K – $380.4K
NOI $22,823 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$673.3K
$589.2K – $785.6K
NOI $47,134 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex on an approximately 0.37-acre parcel with ample parking and month-to-month occupancy in both units.
Where is this duplex located?
The property is located at 23888 US Highway 98 Elberta, AL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Duplex on an approximately 0.37‑acre parcel just off U.S. Highway 98 in the Elberta/Foley area; Month‑to‑month leases in place with both units currently occupied; Metal roof installed in 2020
