Residential Income Property with
For Sale
$265,000
303 Wyld Palms Drive, Foley, AL 36535
Residential, Foley, AL
Property Size2,046 SF
Price / SF$129.52
Days on Market87
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, Bathroom 2, Family Room, Dining Room, Bedroom 1, Bedroom 2, Bonus Room, Laundry Room
Parking features
Garage, Open
Security features
Security Lighting
Window features
Window Treatments
Patio and Porch features
Patio
Pets allowed
Yes
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
Central, Natural Gas
Cooling system
Gas (Cooling)
Amenities
community swimming pool
clubhouse
fitness room
Building Details
Year built
2007
Floors in Building
1
Flooring type
Engineered, Carpet, Tile
Roof type
Composition
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Waters Edge Realty
(251) 215-1783
Listed By:
Tatyana Hall · License #136169
(706) 575-8800
Added: Jul 27
Changed: Oct 21
Last Checked: Oct 21 at 11:06PM
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.
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Investment Insights
Based on property information with market context.
This 2,046-square-foot residence has two bedrooms, two bathrooms, an open living and dining area, and a sunroom. The split-bedroom layout includes vaulted ceilings, a kitchen with granite counters, upgraded cabinetry, stainless steel appliances, and two pantry closets. A two-car garage, front patio, and 2023 gas HVAC system and water heater are also included.
Community amenities include a swimming pool, clubhouse, and fitness room. The HOA covers exterior building insurance and maintenance, termite protection, landscaping, lawn care, irrigation system maintenance, and trash service. The property is in Foley, approximately 8 miles from the Gulf of Mexico, and near Tanger Outlets, OWA Parks & Resort, the Coastal Alabama Farmers & Fishermen Market, Graham Creek Nature Preserve, and Downtown Foley.
Community amenities include a swimming pool, clubhouse, and fitness room. The HOA covers exterior building insurance and maintenance, termite protection, landscaping, lawn care, irrigation system maintenance, and trash service. The property is in Foley, approximately 8 miles from the Gulf of Mexico, and near Tanger Outlets, OWA Parks & Resort, the Coastal Alabama Farmers & Fishermen Market, Graham Creek Nature Preserve, and Downtown Foley.
Key Highlights
- 2,046‑square‑foot residence with 2 bedrooms and 2 bathrooms
- Open floor plan with split‑bedroom layout and vaulted ceilings
- Kitchen features granite countertops, upgraded cabinetry, stainless steel appliances, and two pantry closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,677
Cap Rate
6.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,540
$333.5K
Cap Rate 7%
$238,243
$238.2K
Cap Rate 9%
$185,300
$185.3K
Market Conditions
NOI Build-Up for 2,046 SF
Gross rent
$31.9K $15.60/SF
− Vacancy
−$1.6K −$0.78/SF
EGI
$30.3K $14.82/SF
− OpEx
−$13.6K −$6.67/SF
NOI
$16.7K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,540
Cap Rate 7%
$238,243
Cap Rate 9%
$185,300
Alternative Uses
Best Use
Apartment 5plus
$238.2K
$208.5K – $278.0K
NOI $16,677 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$492.0K
$430.5K – $574.0K
NOI $34,442 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - A two-bedroom, two-bath residence pairs private indoor space with community recreation and HOA-managed exterior upkeep.
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 $265,000.
What are key features of this property?
This property features: 2,046‑square‑foot residence with 2 bedrooms and 2 bathrooms; Open floor plan with split‑bedroom layout and vaulted ceilings; Kitchen features granite countertops, upgraded cabinetry, stainless steel appliances, and two pantry closets
