Single-Story
For Sale
$245,000
33208 Stables Dr, Daphne, AL 36527
Residential, Daphne, AL
Property Size1,520 SF
Price / SF$161.18
Days on Market10
Property Features for 33208 Stables Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking features
Garage, Open
Interior features
Ceiling Fan(s)
Appliances
Gas Range, Microwave, Dishwasher
Subdivision
Churchill Downs
Lot features
Less Than 1 Acre
Elementary school
Stapleton Elementary
Middle school
Bay Minette Middle
High school
Baldwin County High
Directions
From the intersection of 181 and 31 in Spanish Fort, go East on 31. Turn Right into Churchill Downs. Turn Right onto Stables Dr. Home is on the right.
Standard status
Active
APN
33-03-07-0-000-005.007.901
Size
1,520 SF
Taxes and HOA fees
Tax Description
Unit 4-A Churchill Downs Duplex Condominium Sec 7-T4s-R3e (S Tat Wd)
Tax Annual Amount
752
HOA Fee
$228 Monthly
Legal Description
Unit 4-A Churchill Downs Duplex Condominium Sec 7-T4s-R3e (S Tat Wd)
Utilities
Utilities
Natural Gas Available
Heating system
Central
Cooling system
Electric
Amenities
covered front porch
Building Details
Year built
2019
Floors in Building
1
Roof type
Composition
Architectural style
Other
Listing Agency:
Sweet Willow Realty
(678) 315-4338
Listed By:
Matthew Stiffler · License #166539 - 1
(251) 213-9838
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 23 at 4:06AM
MLS# 409147
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 2019-built duplex offers a single-story layout with three bedrooms and two bathrooms. The interior connects the living, dining, and kitchen areas in an open arrangement, with granite countertops and stainless steel appliances including a gas range, microwave, and dishwasher. Brick and vinyl exterior finishes, a covered front porch, composition roof, central heating, and electric cooling are also featured.
An attached single-car garage and open parking provide on-site parking options. The property is situated near I-10, with access toward Mobile and Pensacola. Natural gas is available, and the home is located within the Churchill Downs community.
An attached single-car garage and open parking provide on-site parking options. The property is situated near I-10, with access toward Mobile and Pensacola. Natural gas is available, and the home is located within the Churchill Downs community.
Key Highlights
- 2019 construction with single‑story layout
- Three bedrooms and two bathrooms
- Open living, dining, and kitchen arrangement
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
$13,920
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
5.68%
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%
$278,400
$278.4K
Cap Rate 7%
$198,857
$198.9K
Cap Rate 9%
$154,667
$154.7K
Market Conditions
NOI Build-Up for 1,520 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
$21.0K $13.80/SF
− Vacancy
−$1.1K −$0.72/SF
EGI
$19.9K $13.08/SF
− OpEx
−$6.0K −$3.92/SF
NOI
$13.9K $9.16/SF
Area
Baldwin County, AL
Vacancy
5.20%
Lease Rate
$13.80 /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%
$278,400
Cap Rate 7%
$198,857
Cap Rate 9%
$154,667
Alternative Uses
Best Use
Multifamily LT 5
$198.9K
$174.0K – $232.0K
NOI $13,920 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$177.0K
$154.9K – $206.5K
NOI $12,390 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$365.5K
$319.8K – $426.5K
NOI $25,587 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 36527, AL
18,034
Population
7,621
Households
2.4
Avg Household Size
39
Median Age
43%
College-Educated
97%
High-School Grad
42.3 sq mi
ZIP Area
426
Density / Sq Mi
$112,672
Median Household Income
$51,337
Median Earnings
$1,373
Median Rent
$348,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-bedroom, two-bath residence with an open-concept interior and attached garage.
Where is this duplex located?
The property is located at 33208 Stables Dr Daphne, AL.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 2019 construction with single‑story layout; Three bedrooms and two bathrooms; Open living, dining, and kitchen arrangement
