2-Unit Brick
409 W Pasadena Ave, Muscle Shoals, AL 35661
For Sale
$249,900
Both residences are tenant-occupied, with distinct two-bedroom layouts.
Property Size2,079 SF
Price / SF$120.20
Days on Market48
Property Features for 409 W Pasadena Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Construction
Listing Agency:
MarMac Real Estate - The Shoals
Listed By:
Katie Cobb · License #94964
(256) 856-2055
Source:
Shoalsareahomesearch
Added: Sep 23
Changed: Nov 7
Last Checked: Nov 8 at 7:09AM
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 MarMac Real Estate - The Shoals
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Investment Insights
Based on property information with market context.
This 2,079-square-foot brick duplex was built in 1958 and contains two residences. One has two bedrooms and two bathrooms; the other has two bedrooms and one bathroom. Both units are currently rented, and the property includes parking for three vehicles.
Located in Muscle Shoals, the property is at 409 W Pasadena Ave.
Located in Muscle Shoals, the property is at 409 W Pasadena Ave.
Key Highlights
- Two units: one with 2 bedrooms and 2 bathrooms, the other with 2 bedrooms and 1 bathroom
- Both residences are currently rented
- 2,079 square feet of brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,246
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,920
$244.9K
Cap Rate 7%
$174,943
$174.9K
Cap Rate 9%
$136,067
$136.1K
Market Conditions
NOI Build-Up for 2,079 SF
Gross rent
$18.7K $9.00/SF
− Vacancy
−$1.2K −$0.59/SF
EGI
$17.5K $8.42/SF
− OpEx
−$5.2K −$2.52/SF
NOI
$12.2K $5.89/SF
Area
Colbert County, AL
Vacancy
6.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$244,920
Cap Rate 7%
$174,943
Cap Rate 9%
$136,067
Alternative Uses
Best Use
Multifamily LT 5
$174.9K
$153.1K – $204.1K
NOI $12,246 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$157.0K
$137.3K – $183.1K
NOI $10,987 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$332.0K
$290.5K – $387.3K
NOI $23,240 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
910
Businesses Nearby
Explore this area
Business Placement
Demographics for 35661, AL
18,714
Population
8,911
Households
2.1
Avg Household Size
42
Median Age
24%
College-Educated
91%
High-School Grad
51.2 sq mi
ZIP Area
366
Density / Sq Mi
$66,726
Median Household Income
$43,826
Median Earnings
$917
Median Rent
$189,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are tenant-occupied, with distinct two-bedroom layouts.
Where is this duplex located?
The property is located at 409 W Pasadena Ave Muscle Shoals, AL.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two units: one with 2 bedrooms and 2 bathrooms, the other with 2 bedrooms and 1 bathroom; Both residences are currently rented; 2,079 square feet of brick construction
