Two-Bedroom Residential Income
For Sale
$260,000
303 Wyld Palms Drive, Foley, AL 36535
MULTI_FAMILY - Other - Foley, AL
Property Size2,046 SF
Price / SF$127.08
Days on Market9
Property Features for 303 Wyld Palms Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking features
Garage, Open
Security features
Security Lighting
Window features
Window Treatments
Patio and Porch features
Patio
Interior features
Internet, Storage, Ceiling Fan(s), High Ceilings, Split Bedroom Plan, Wheelchair Accessible
Exterior features
Irrigation Sprinkler
Fireplace
1
Accessibility
Accessible Approach with Ramp
Appliances
Dryer, Washer, Disposal, Microwave, Dishwasher, Electric Range, Plumbed For Ice Maker, Smoke Detector
Subdivision
Wyld Palms
Lot features
Zero Lot Line, Less Than 1 Acre
Elementary school
Foley Elementary
Middle school
Foley Middle
High school
Foley High
Directions
From downtown Foley, head south on Hwy 59. Turn right onto Wyld Palms Drive. Follow Wyld Palms Drive past the clubhouse and pool. The unit is located at the rear of the second building on the right. Follow the signs to unit 303
Standard status
Active
APN
61-03-08-4-001-013.000.907
Size
2,046 SF
Taxes and HOA fees
Tax Description
Unit 303 Wyld Palms Condo In The City Of Foley Sec 8-T8s-R4e
Tax Annual Amount
952
HOA Fee
$476 Monthly
Legal Description
Unit 303 Wyld Palms Condo In The City Of Foley Sec 8-T8s-R4e
Utilities
Heating system
Natural Gas, Central
Cooling system
Gas (Cooling)
Water front features
Waterfront
Amenities
swimming pool
clubhouse
fitness room
Building Details
Year built
2007
Floors in Building
1
Flooring type
Carpet, Tile, Engineered
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Waters Edge Realty
(251) 215-1783
Listed By:
Tatyana Hall · License #136169
(251) 216-2772
Added: Jul 27
Changed: Aug 4
Last Checked: Aug 4 at 3:06PM
MLS# 400101
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.
Built in 2007, this 2,046-square-foot, two-bedroom, two-bath condominium combines an open interior layout with vaulted ceilings, a split-bedroom arrangement, and a sunroom adjoining the living and dining areas. The kitchen includes granite counters, upgraded cabinetry, stainless steel appliances, a breakfast bar, and two pantry closets. Both bathrooms also feature granite surfaces. A two-car garage, front patio, storage, wheelchair-accessible approach, and professionally maintained landscaping add practical convenience. Recent mechanical updates include a 2023 gas HVAC system and a 2023 gas water heater.
The HOA provides exterior building insurance, exterior maintenance, termite protection, landscaping, lawn care, irrigation-system maintenance, and trash service. Residents also have access to a community swimming pool, clubhouse, and fitness room. The property is near Tanger Outlets, OWA Parks & Resort, Coastal Alabama Farmers and Fishermen Market, Graham Creek Nature Preserve, and Downtown Foley, with the Gulf of Mexico approximately 8 miles away.
The HOA provides exterior building insurance, exterior maintenance, termite protection, landscaping, lawn care, irrigation-system maintenance, and trash service. Residents also have access to a community swimming pool, clubhouse, and fitness room. The property is near Tanger Outlets, OWA Parks & Resort, Coastal Alabama Farmers and Fishermen Market, Graham Creek Nature Preserve, and Downtown Foley, with the Gulf of Mexico approximately 8 miles away.
Key Highlights
- 2,046‑square‑foot condominium with two bedrooms and two bathrooms
- 2023 gas HVAC system and 2023 gas water heater
- Two‑car garage, front patio, sunroom, and storage space
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 | $31.9k | $15.60 |
| − Vacancy | −$1.6k | −$0.78 |
| EGI | $30.3k | $14.82 |
| − OpEx | −$13.6k | −$6.67 |
| NOI | $16.7k | $8.15 |
2,046 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$238.2K
$208.5K – $278.0K
NOI $16,677 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,442 @ 7.0% cap · market cap 13.25%
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
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
Market
Properties on Market for Residential income properties in Foley
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Low-maintenance condo living with community amenities, a private patio, and a two-car garage in Foley.
Where is this residential income property located?
The property is located at 303 Wyld Palms Drive Foley, AL.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,046‑square‑foot condominium with two bedrooms and two bathrooms; 2023 gas HVAC system and 2023 gas water heater; Two‑car garage, front patio, sunroom, and storage space
