Brick
New
For Sale
$249,900
409 W Pasadena Ave, Muscle Shoals, AL 35661
MultiFamily, Muscle Shoals, AL
Property Size2,079 SF
Lot Size0.40 Acres
Price / SF$120.20
Days on Market2
Property Features for 409 W Pasadena Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R1
Elementary school
Muscle Shoals
Middle school
Muscle Shoals
High school
Muscle Shoals
Directions
From Florence....Woodward Ave. South TR on W Padsadena....POR Sign
Subdivision
Colbert
Standard status
Active
APN
0708344001010000
Size
2,079 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Description
LOT 15 ADD #1 HIGHLAND PARK#3 & 66' OFVACATED HAMILTON AVE NUE 146 X 120 /DB 2018PG 34139-34140
Tax Annual Amount
1826
Legal Description
LOT 15 ADD #1 HIGHLAND PARK#3 & 66' OFVACATED HAMILTON AVE NUE 146 X 120 /DB 2018PG 34139-34140
Utilities
Sewer type
Public Sewer
Building Details
Year built
1958
Number of units
2
Listing Agency:
MarMac Real Estate - The Shoals
(256) 766-8499
Listed By:
Katie L Cobb · License #94964
(256) 349-3638
Added: Oct 13
Last Checked: Oct 14 at 6:06AM
MLS# 531786
Copyright © 2026 Strategic MLS Alliance, INC. 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 1958 brick duplex contains 2,079 square feet across two units. Each has two bedrooms; one includes two bathrooms and the other has one. Three parking spaces serve the property, which occupies 0.4 acres and connects to public sewer. The zoning designation is R1.
At 409 W Pasadena Ave in Muscle Shoals, the property offers an established two-unit rental configuration, with both residences currently occupied by tenants.
At 409 W Pasadena Ave in Muscle Shoals, the property offers an established two-unit rental configuration, with both residences currently occupied by tenants.
Key Highlights
- Two‑unit brick duplex with 2,079 square feet
- Both units are rented
- Each residence has two bedrooms; bathroom counts are two in one unit and one in the other
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.
How Realmo checks its estimates
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are rented, with two bedrooms in each unit and three parking spaces on site.
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‑unit brick duplex with 2,079 square feet; Both units are rented; Each residence has two bedrooms; bathroom counts are two in one unit and one in the other
