7-Unit Apartment
For Sale
$399,000
407 30th Place, Tuscaloosa, AL 35401
MULTI_FAMILY - Tuscaloosa, AL
Property Size3,465 SF
Lot Size0.44 Acres
Price / SF$115.15
Days on Market318
Property Features for 407 30th Place
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
University Manor
Elementary school
Skyland
Middle school
Eastwood
High school
Bryant
Directions
Greensboro Ave, left on University Ln, Right on Brooksdale Dr, left onto 30th Pl
Standard status
Active
APN
633107362003011.000
Size
3,465 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
Lot 18 & 19 in University Manor Subd
Tax Annual Amount
1470
Legal Description
Lot 18 & 19 in University Manor Subd
Building Details
Year built
1970
Roof type
Shingle, Composition
Listing Agency:
Osborne, Inc
(912) 489-4529
Listed By:
Cindy Osborne · License #265397
(912) 601-6000
Added: Sep 30, 2025
Changed: Aug 9
Last Checked: Aug 13 at 4:06AM
MLS# 171247
Copyright © 2026 West Alabama Multiple Listing Service. 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 apartment property contains 7 one-bedroom, one-bathroom units within 3,465 square feet on a 0.44-acre site. Six units are leased, and three have been updated; the remaining four units have not been updated. The property is professionally managed, providing an established operating structure for the existing unit mix.
Built in 1970, the property is located near downtown Tuscaloosa just off Greensboro Avenue. The roof systems include shingle and composition materials. Current rent rolls are available upon request.
Built in 1970, the property is located near downtown Tuscaloosa just off Greensboro Avenue. The roof systems include shingle and composition materials. Current rent rolls are available upon request.
Key Highlights
- 7 one‑bedroom, one‑bathroom apartment units
- 6 of 7 units are leased
- 3 units are updated; 4 units have not been updated
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
$28,101
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
7.04%
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%
$562,020
$562.0K
Cap Rate 7%
$401,443
$401.4K
Cap Rate 9%
$312,233
$312.2K
Market Conditions
NOI Build-Up for 3,465 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
$54.5K $15.72/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$51.1K $14.75/SF
− OpEx
−$23.0K −$6.64/SF
NOI
$28.1K $8.11/SF
Area
Tuscaloosa, AL
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$562,020
Cap Rate 7%
$401,443
Cap Rate 9%
$312,233
Alternative Uses
Best Use
Apartment 5plus
$401.4K
$351.3K – $468.4K
NOI $28,101 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$832.7K
$728.6K – $971.5K
NOI $58,287 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
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?
Apartment building - Professionally managed apartment property with one-bedroom units near downtown Tuscaloosa.
Where is this apartment building located?
The property is located at 407 30th Place Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 7 one‑bedroom, one‑bathroom apartment units; 6 of 7 units are leased; 3 units are updated; 4 units have not been updated
