Two-Bedroom Duplex Condo
For Sale
$238,000
24962 Ivy Lane, Orange Beach, AL 36561
SINGLE_FAMILY - Orange Beach, AL
Property Size1,349 SF
Lot Size0.12 Acres
Price / SF$176.43
Days on Market22
Property Features for 24962 Ivy Lane
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
Parking features
Carport
Appliances
Dishwasher, Microwave, Range-Electric, Refrigerator
Elementary school
Orange Beach Elementary
Middle school
Orange Beach Middle
High school
Orange Beach High
Directions
From Canal Rd, turn onto Oak St. Then turn left on Ivy Ln. Duplex/condo will be on the left. Unit A is the unit for sale.
Subdivision
Baldwin County
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)
Legal 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
Carpet, Tile
Roof type
Metal
Architectural style
Other
Listing Agency:
Crye Leike Gulf Coast Real Est
(251) 405-2608
Listed By:
Ashley Campbell · License #1558441
(334) 398-2917
Added: Jul 13
Changed: Aug 3
Last Checked: Aug 3 at 5:06AM
MLS# 399355
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 two-bedroom, two-bathroom condo with flex space is located on one side of a duplex and offers an open floor plan. The unit includes 1,349 square feet of living space with a mix of tile and carpet flooring, plus an updated appliance package featuring a dishwasher, microwave, electric range, and refrigerator. The home was built in 1998 and features a metal roof. Parking is provided by a carport. The property is described as not being in a flood zone.
24962 Ivy Lane, Unit A is just off Canal Road in Orange Beach, Alabama. The layout and configuration make it suitable for a primary residence, a vacation getaway, or a rental option.
With a fixer-upper presentation, the property may benefit from buyer-directed updates to bring the interior to the new owner’s preferences. Buyer to verify all information during due diligence.
24962 Ivy Lane, Unit A is just off Canal Road in Orange Beach, Alabama. The layout and configuration make it suitable for a primary residence, a vacation getaway, or a rental option.
With a fixer-upper presentation, the property may benefit from buyer-directed updates to bring the interior to the new owner’s preferences. Buyer to verify all information during due diligence.
Key Highlights
- 1,349 SF duplex condo on one side of a duplex
- Two‑bedroom, two‑bathroom layout with flex space
- 0.1205‑acre lot
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 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$324.4K
$283.9K – $378.5K
NOI $22,709 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Explore this area
Business Placement
Demographics for 36561, AL
9,146
Population
16,184
Households
0.6
Avg Household Size
52
Median Age
41%
College-Educated
98%
High-School Grad
16.7 sq mi
ZIP Area
548
Density / Sq Mi
$89,432
Median Household Income
$48,771
Median Earnings
$1,346
Median Rent
$529,100
Median Home Value
Market
Properties on Market for Residential income properties in Orange Beach
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - One side of a duplex condo with two bedrooms, two bathrooms, flex space, and a carport in Orange Beach.
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 $238,000.
What are key features of this property?
This property features: 1,349 SF duplex condo on one side of a duplex; Two‑bedroom, two‑bathroom layout with flex space; 0.1205‑acre lot
