Duplex with Two 2BR
For Sale
$150,000
27 1st NE Street, Graysville, AL 35073
Two leased 2-bedroom, 1-bath units with updated interior finishes and defined lease end dates.
Property Size1,383 SF
Price / SF$108.46
Days on Market77
Property Features for 27 1st NE Street
General Information
Standard status
Active
Size
1,383 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Spartan Realty LLC
(205) 292-7218
Listed By:
Ben Davis · License #2004031785
(205) 292-7218
Source:
Exitrealty
Added: May 27
Changed: Aug 8
Last Checked: Aug 10 at 5:43AM
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 Spartan Realty LLC
Investment Insights
Based on property information with market context.
This charming duplex at 27 1st Street NE features two separate homes, Unit A and Unit B, with each offering 2 bedrooms and 1 bathroom. Inside, both units include granite countertops with ample counter space, luxury flooring, and fresh paint. The layout supports comfortable everyday living with a straightforward residential configuration for renters.
The property is located in Graysville, AL, at 27 1st Street NE. With both units currently occupied, the duplex presents an opportunity to purchase a ready-to-rent setup rather than starting from vacant space.
For buyers and investors, the tenancy is already established. Unit A is leased for $780 per month with a lease end date of 1/31/2027, and Unit B is leased for $725 per month with a lease end date of 3/31/2027. This structure can suit an owner who wants rental income while retaining the option to plan around the different lease expiration dates.
The property is located in Graysville, AL, at 27 1st Street NE. With both units currently occupied, the duplex presents an opportunity to purchase a ready-to-rent setup rather than starting from vacant space.
For buyers and investors, the tenancy is already established. Unit A is leased for $780 per month with a lease end date of 1/31/2027, and Unit B is leased for $725 per month with a lease end date of 3/31/2027. This structure can suit an owner who wants rental income while retaining the option to plan around the different lease expiration dates.
Key Highlights
- Duplex built in 1950 with 2 units, each offering 2 bedrooms and 1 bathroom
- Unit A leased at $780/month through 1/31/2027
- Unit B leased at $725/month through 3/31/2027
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,913
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$238,260
$238.3K
Cap Rate 7%
$170,186
$170.2K
Cap Rate 9%
$132,367
$132.4K
Market Conditions
NOI Build-Up for 1,383 SF
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.
Gross rent
$19.4K $14.04/SF
− Vacancy
−$2.4K −$1.73/SF
EGI
$17.0K $12.31/SF
− OpEx
−$5.1K −$3.69/SF
NOI
$11.9K $8.61/SF
Area
Jefferson County, AL
Vacancy
12.35%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$238,260
Cap Rate 7%
$170,186
Cap Rate 9%
$132,367
Alternative Uses
Best Use
Multifamily LT 5
$170.2K
$148.9K – $198.6K
NOI $11,913 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$150.9K
$132.0K – $176.0K
NOI $10,562 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$475.8K
$416.3K – $555.1K
NOI $33,305 @ 7.0% cap · market cap 22.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 35073, AL
2,412
Population
1,446
Households
1.7
Avg Household Size
46
Median Age
17%
College-Educated
85%
High-School Grad
29.5 sq mi
ZIP Area
82
Density / Sq Mi
$57,679
Median Household Income
$42,759
Median Earnings
$965
Median Rent
$115,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased 2-bedroom, 1-bath units with updated interior finishes and defined lease end dates.
Where is this duplex located?
The property is located at 27 1st NE Street Graysville, AL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Duplex built in 1950 with 2 units, each offering 2 bedrooms and 1 bathroom; Unit A leased at $780/month through 1/31/2027; Unit B leased at $725/month through 3/31/2027
