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    Phenix City Quadplex Investment Title is generated by Realmo AI

    2608 Kennon Court Q building, Phenix City, AL 36867

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    Picture of Quadplexes at 2608 Kennon Court Q building, Phenix City, AL
    Pending
    $350,000

    MULTI_FAMILY - Phenix City, AL

    Lot size:
    0.27 Acres
    Added:
    Apr 12, 2026
    Days on Market:
    40
    Last Refresh:
    May 21 at 3:06 pm

    Property Features for 2608 Kennon Court Q building

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    2
    Parking features
    Driveway
    Standard status
    Pending
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    3276

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    1985
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick, VinylSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Michael Terrell
    Michael Terrell

    Listing agent Michael Terrell License #129247

    Listing office Keller Williams Realty River C 3703 18th Ave, Columbus, AL

    Listing date Apr 12, 2026

    MLS# E103553 Listing URL

    Copyright © 2026 East Alabama Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Immediate income generation with stable occupancy.
    • Significant upside potential through rent adjustments to market rates (estimated $1,000/unit).
    • Below‑market listing price reflecting current rental rates.
    • All units are desirable 2BR/2BA configurations.
    • Strong rental area with consistent tenant demand.
    • Recent comparable sale within the complex at $390,000 supports long‑term value.

    Overview

    This quadplex investment property is located in Phenix City, Alabama, and features four units, each with 2 bedrooms and 2 bathrooms. The property benefits from consistent tenant demand and immediate income. There is potential for increased cash flow through rent adjustments, as the property is currently underperforming due to below-market rental rates. Unit 1 rents for $750 per month with a lease through September 2026 (Section 8). Unit 2 rents for $750 per month with a lease expired February 2026 (Section 8). Unit 3 rents for $780 per month with a lease through May 2026. Unit 4 rents for $675 per month with a lease through June 2027. The property is suited for investors seeking a value-add property with upside potential. Market rents for similar units in the area are estimated at approximately $1,000 per unit. The property is situated on a lot of approximately 0.27 acres. A recent comparable sale within the complex reached $390,000. The property may be purchased individually or as part of a larger investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Phenix City
    County
    Lee
    State
    Alabama
    Longitude
    -85.026824
    Latitude
    32.4850236

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    FAQs

    What type of property is this?
    Quadplex - Quadplex with income potential in a strong rental market.
    Where is this quadplex located?
    The property is located at 2608 Kennon Court Q building Phenix City, AL.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Immediate income generation with stable occupancy.; Significant upside potential through rent adjustments to market rates (estimated $1,000/unit).; Below‑market listing price reflecting current rental rates.
    (762) 207-7005
    We can help!
    Listing Contact
    Michael Terrell
    Michael Terrell
    Real Estate License ID: 129247
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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