Two-Unit Duplex with Central
For Sale
$150,000
449 7th W Street, Birmingham, AL 35204
Income-producing residential property with matching two-bedroom layouts and one occupied unit.
Property Size843 SF
Price / SF$177.94
Days on Market108
Property Features for 449 7th W Street
General Information
Standard status
Active
Size
843 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1948
Listing Agency:
eXp Realty, LLC Central
(205) 790-0944
Listed By:
Tim Lantz · License #86246
(205) 790-0944
Source:
Exitrealty
Added: May 16
Changed: Aug 29
Last Checked: Aug 30 at 2:20PM
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 eXp Realty, LLC Central
Investment Insights
Based on property information with market context.
This duplex contains two separate two-bedroom, one-bath units within an 843 SF residential property built in 1948. Both units are described with eat-in kitchens, laminate flooring, central electric air conditioning, central electric heat, and electric water heaters. One unit is currently rented, while the second unit is available for evaluation by a prospective owner or operator.
The property is located at 449 7th Street West in Birmingham, Alabama 35204. Its two-unit configuration provides a clearly defined residential layout, with each unit offering the same bedroom and bathroom count.
The property is located at 449 7th Street West in Birmingham, Alabama 35204. Its two-unit configuration provides a clearly defined residential layout, with each unit offering the same bedroom and bathroom count.
Key Highlights
- Two‑unit duplex with two 2‑bedroom, 1‑bath residences
- 843 SF property built in 1948
- One unit currently rented
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
$6,493
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
4.33%
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%
$129,860
$129.9K
Cap Rate 7%
$92,757
$92.8K
Cap Rate 9%
$72,144
$72.1K
Market Conditions
NOI Build-Up for 843 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
$10.2K $12.12/SF
− Vacancy
−$941 −$1.12/SF
EGI
$9.3K $11.00/SF
− OpEx
−$2.8K −$3.30/SF
NOI
$6.5K $7.70/SF
Area
Birmingham, AL
Vacancy
9.21%
Lease Rate
$12.12 /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%
$129,860
Cap Rate 7%
$92,757
Cap Rate 9%
$72,144
Alternative Uses
Best Use
Multifamily LT 5
$92.8K
$81.2K – $108.2K
NOI $6,493 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$86.8K
$76.0K – $101.3K
NOI $6,079 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$197.9K
$173.1K – $230.9K
NOI $13,851 @ 7.0% cap · market cap 9.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
Explore this area
Business Placement
Demographics for 35204, AL
9,271
Population
5,333
Households
1.7
Avg Household Size
43
Median Age
14%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
1,854
Density / Sq Mi
$32,880
Median Household Income
$27,864
Median Earnings
$716
Median Rent
$81,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing residential property with matching two-bedroom layouts and one occupied unit.
Where is this duplex located?
The property is located at 449 7th W Street Birmingham, AL.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Two‑unit duplex with two 2‑bedroom, 1‑bath residences; 843 SF property built in 1948; One unit currently rented
