Waterfront Duplex with Fenced
503 S State Hwy 109, Dothan, AL 36301
For Sale
$329,000
Residential Income, Dothan, AL
Property Size2,400 SF
Lot Size0.50 Acres
Price / SF$137.08
Days on Market164
Property Features for 503 S State Hwy 109
General Information
Property type
Property subtype
Property condition
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Elementary school
Middle school
High school
Subdivision
Standard status
APN
Size
Lot size
Utilities
Sewer type
Water source
Water front features
Amenities
fenced in back yard
pet friendly
Building Details
Year built
Floors in Building
Flooring type
Buildings
Listing Agency:
Weichert Realtors JBR Legacy Group
(334) 794-7211
Listed By:
Emma Dean · License AL #143652
(334) 791-5609
Added: Jun 1
Changed: Oct 27
Last Checked: Nov 11 at 1:06PM
MLS# 213355
Copyright © 2026 Southeast Alabama Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex contains two matching residences, each arranged with three bedrooms and two bathrooms. The combined property measures 2,400 square feet on a 0.5-acre parcel. Interior finishes include LVP flooring and granite countertops, with each side equipped with a dishwasher, microwave, oven, range, range hood, and refrigerator. A fenced backyard provides private exterior space, and the property is identified as pet friendly.
The property is located at 503 S State Hwy 109 in Dothan, Alabama, within ZIP Code 36301. It includes waterfront features, public water service, and a septic tank sewer system. The two-unit configuration offers a straightforward residential income property format with separately mirrored living spaces and three-bedroom layouts on both sides.
The property is located at 503 S State Hwy 109 in Dothan, Alabama, within ZIP Code 36301. It includes waterfront features, public water service, and a septic tank sewer system. The two-unit configuration offers a straightforward residential income property format with separately mirrored living spaces and three-bedroom layouts on both sides.
Key Highlights
- Duplex with two mirrored 3‑bedroom, 2‑bathroom residences
- 2,400 square feet on 0.5 acres
- LVP flooring and granite countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,137
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$282,740
$282.7K
Cap Rate 7%
$201,957
$202.0K
Cap Rate 9%
$157,078
$157.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$21.6K $9.00/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$20.2K $8.42/SF
− OpEx
−$6.1K −$2.52/SF
NOI
$14.1K $5.89/SF
Area
Houston 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%
$282,740
Cap Rate 7%
$201,957
Cap Rate 9%
$157,078
Alternative Uses
Best Use
Multifamily LT 5
$202.0K
$176.7K – $235.6K
NOI $14,137 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$187.6K
$164.1K – $218.9K
NOI $13,131 @ 7.0% cap · market cap 3.99%
Theoretical Best
Healthcare Medical
$424.2K
$371.2K – $494.9K
NOI $29,694 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 36301, AL
38,447
Population
17,872
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
85%
High-School Grad
89.2 sq mi
ZIP Area
431
Density / Sq Mi
$49,124
Median Household Income
$35,333
Median Earnings
$886
Median Rent
$156,100
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 - Two mirrored residences combine updated finishes, private outdoor space, and a practical income-property layout.
Where is this duplex located?
The property is located at 503 S State Hwy 109 Dothan, AL.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Duplex with two mirrored 3‑bedroom, 2‑bathroom residences; 2,400 square feet on 0.5 acres; LVP flooring and granite countertops
