Duplex Condo Unit with Flex
24962 Ivy Lane Orange Beach, AL 36561
New
24962 Ivy Lane, Orange Beach, AL, 36561
$245,000
For Sale
$245,000
SINGLE_FAMILY - Orange Beach, AL
Property Size1,349 SF
Lot Size0.12 Acres
Price / SF$181.62
Days on Market6
Property Features for 24962 Ivy Lane
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
- Parking features
- Carport
- Appliances
- Dishwasher, Microwave, Range-Electric, Refrigerator
- Standard status
- Active
- APN
- 65-03-06-0-000-002.129.901
- Size
- 1,349 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Description
- Unit "A" The Newburg House Condo In The City Of Orange Beach In479305 Sec 6-T9s-R5e (Wd)
Building Details
- Year built
- 1998
- Floors in Building
- 1
- Flooring type
- Tile, Carpet
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
Crye Leike Gulf Coast Real Est
(251) 405-2608
229 East 20th Ave, Ste 1, Gulf Shores, AL
Listed by
Ashley Campbell
(334) 398-2917
Added: Jul 13 Checked: Jul 18 at 1:06 am
MLS# 399355
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 condo unit is located on one side of a well-maintained duplex and features an open floor plan with two bedrooms, two bathrooms, and additional flex space. The interior is presented as 1,349 square feet of comfortable living, with generously sized bedrooms designed for everyday use or flexible arrangements.
The property is at 24962 Ivy Lane, Unit A, just off Canal Road in Orange Beach, Alabama. The listing notes the unit is not in a flood zone and that buyer due diligence is required to verify all information.
With its duplex configuration and added flex area, this is a practical option for buyers seeking a self-contained residence or a smaller income-oriented setup. Professional photos are noted as coming soon, and a private showing can be scheduled.
The property is at 24962 Ivy Lane, Unit A, just off Canal Road in Orange Beach, Alabama. The listing notes the unit is not in a flood zone and that buyer due diligence is required to verify all information.
With its duplex configuration and added flex area, this is a practical option for buyers seeking a self-contained residence or a smaller income-oriented setup. Professional photos are noted as coming soon, and a private showing can be scheduled.
Key Highlights
- 2‑bedroom, 2‑bath condo with flex space in one side of a well‑maintained duplex (24962 Ivy Lane, Unit A)
- 1,349 SF of living space
- Not in a flood zone (per listing remarks); buyer to verify during due diligence
Local Financial Insights For Apartment 5plus
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 | $21.0k | $15.60 |
| − Vacancy | −$1.1k | −$0.78 |
| EGI | $20.0k | $14.82 |
| − OpEx | −$9.0k | −$6.67 |
| NOI | $11.0k | $8.15 |
1,349 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$157.1K
$137.5K – $183.3K
NOI $10,996 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.4K
$283.9K – $378.5K
NOI $22,709 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - One side of a well-maintained duplex offering two bedrooms, two baths, and flex space in a non-flood-zone setting.
Where is this residential income property located?
The property is located at 24962 Ivy Lane Orange Beach, AL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath condo with flex space in one side of a well‑maintained duplex (24962 Ivy Lane, Unit A); 1,349 SF of living space; Not in a flood zone (per listing remarks); buyer to verify during due diligence
