Updated Duplex with Beach
For Sale
$595,000
432 Dune Drive, Gulf Shores, AL 36542
Residential, Gulf Shores, AL
Property Size2,618 SF
Lot Size0.17 Acres
Price / SF$227.27
Days on Market94
Property Features for 432 Dune Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 1, Bathroom 3, Dining Room, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 2
Parking features
Garage, Carport
Patio and Porch features
Porch
Pets allowed
Yes
Interior features
Internet, Storage, High Ceilings, Split Bedroom Plan
Appliances
Cooktop, Disposal, Microwave, Dishwasher, Electric Range, Plumbed For Ice Maker
Subdivision
The Dunes
Lot features
Elevation High, Less Than 1 Acre
Elementary school
Foley Elementary
Middle school
Foley Middle
High school
Foley High
Directions
From Highway 59 (Gulf Shores Parkway) Travel West on Highway 180 (Fort Morgan Road) approximately 18.5 miles. Turn Left on Dune Drive and proceed past Guard gate keypad. The Duplex is located on the corner of Dune Drive and Shell Lane. There is parking access from either street. The Garage entrance is off of Dune Drive.
Standard status
Active
APN
69-08-02-0-006-029.000.901
Size
2,618 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
UNIT "A" SEA WYNN CONDO GR SEC 2-T9S-R1E (DECLARATION- IN #5 84312) (WD)
Tax Annual Amount
3843
HOA Fee
$313 Quarterly
Legal Description
UNIT "A" SEA WYNN CONDO GR SEC 2-T9S-R1E (DECLARATION- IN #5 84312) (WD)
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric
Water front features
Beach Access
Water front
1
Amenities
gated community
covered parking
Building Details
Year built
2000
Floors in Building
3
Flooring type
Tile, Vinyl
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Crescent Sotheby's Intl Rty-Gulf Shores
(251) 968-6869
Listed By:
Timothy M. Wilson · License #044170
(251) 978-0745
Added: Jul 15
Changed: Sep 22
Last Checked: Oct 16 at 7:06PM
MLS# 399556
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2000, this duplex contains 2,618 square feet with 4 bedrooms and 4 bathrooms on each side. Both units feature updated upstairs flooring and a recently repainted exterior, along with covered parking and additional room for boats or recreational vehicles. Interior amenities include storage, high ceilings, split-bedroom layouts, porches, central electric heating, electric cooling, and a metal roof.
The property is located at 432 Dune Drive in The Dunes, a gated Gulf-side community near Fort Morgan in Gulf Shores. Beach access, boating, fishing, nature trails, Fort Morgan Marina, and historic Fort Morgan are nearby. The property is outside the CBRA zone, and the source information identifies potential use as a family retreat, extended-family arrangement, or an owner-occupied unit paired with income from the other side.
The property is located at 432 Dune Drive in The Dunes, a gated Gulf-side community near Fort Morgan in Gulf Shores. Beach access, boating, fishing, nature trails, Fort Morgan Marina, and historic Fort Morgan are nearby. The property is outside the CBRA zone, and the source information identifies potential use as a family retreat, extended-family arrangement, or an owner-occupied unit paired with income from the other side.
Key Highlights
- Duplex with 4 bedrooms and 4 bathrooms on each side
- 2,618 square feet on a 0.1663‑acre lot
- Recent exterior paint and upstairs flooring updates on both sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,975
Cap Rate
4.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$479,500
$479.5K
Cap Rate 7%
$342,500
$342.5K
Cap Rate 9%
$266,389
$266.4K
Market Conditions
NOI Build-Up for 2,618 SF
Gross rent
$36.1K $13.80/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$34.2K $13.08/SF
− OpEx
−$10.3K −$3.92/SF
NOI
$24.0K $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 Rate 5%
$479,500
Cap Rate 7%
$342,500
Cap Rate 9%
$266,389
Alternative Uses
Best Use
Multifamily LT 5
$342.5K
$299.7K – $399.6K
NOI $23,975 @ 7.0% cap · market cap 4.03%
Second Best
Apartment 5plus
$304.8K
$266.7K – $355.7K
NOI $21,339 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$629.6K
$550.9K – $734.5K
NOI $44,070 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 36542, AL
16,993
Population
18,551
Households
0.9
Avg Household Size
51
Median Age
38%
College-Educated
95%
High-School Grad
52.0 sq mi
ZIP Area
327
Density / Sq Mi
$74,861
Median Household Income
$35,580
Median Earnings
$1,365
Median Rent
$366,600
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
Frequently Asked Questions
What type of property is this?
Duplex - Gated Gulf-side community property with covered parking, boat and RV storage space, and recent interior and exterior improvements.
Where is this duplex located?
The property is located at 432 Dune Drive Gulf Shores, AL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Duplex with 4 bedrooms and 4 bathrooms on each side; 2,618 square feet on a 0.1663‑acre lot; Recent exterior paint and upstairs flooring updates on both sides
