Duplex with Wood-Frame
For Sale
$230,000
603 18th Street, Tuscaloosa, AL 35401
MULTI_FAMILY - Tuscaloosa, AL
Property Size1,100 SF
Lot Size1.00 Acre
Price / SF$209.09
Days on Market120
Property Features for 603 18th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Interior features
CeilingFans
Exterior features
ConcreteDriveway
Subdivision
Finnell Add
Elementary school
University Place
Middle school
University Place
High school
Central
Directions
From I-20/59, take Exit 73 toward US-82/Tuscaloosa. Head west on US-82/McFarland Blvd. Turn right onto 15th St, then left onto 6th Ave. Continue a few blocks, turn right onto 18th St. 603 will be on your left.
Standard status
Active
APN
31-07-26-1-011-002.001
Size
1,100 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
Lot 2 In Blk 3 In Finnell Addition Subd
Legal Description
Lot 2 In Blk 3 In Finnell Addition Subd
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Flooring type
Vinyl
Building materials
WoodFrame
Roof type
Shingle, Composition
Listing Agency:
Keller Williams Tuscaloosa · Keller Williams Realty
(205) 759-3400
Listed By:
Edwin Odems
(601) 618-4474
Added: Apr 15
Changed: Aug 4
Last Checked: Aug 12 at 4:06PM
MLS# 174681
Copyright © 2026 West Alabama Multiple Listing Service. 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.
Duplex located at 603 18th Street, Tuscaloosa, AL 35401, set on a 1-acre lot with 1,100 SF of property size. The building is wood-frame construction with vinyl flooring throughout. Interior features include ceiling fans.
Heating is provided by central electric heating, and cooling is through central air conditioning. The roof is described as composition shingle, and exterior amenities include a concrete driveway.
The property is presented as a value-add investment opportunity, with emphasis on renovation and rent optimization. It is positioned for a buy-and-hold or light rehab strategy.
Heating is provided by central electric heating, and cooling is through central air conditioning. The roof is described as composition shingle, and exterior amenities include a concrete driveway.
The property is presented as a value-add investment opportunity, with emphasis on renovation and rent optimization. It is positioned for a buy-and-hold or light rehab strategy.
Key Highlights
- Duplex at 603 18th Street, Tuscaloosa, AL 35401
- 1‑acre lot with 1,100 SF property size
- Wood‑frame construction with vinyl flooring
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
$9,935
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
4.32%
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%
$198,700
$198.7K
Cap Rate 7%
$141,929
$141.9K
Cap Rate 9%
$110,389
$110.4K
Market Conditions
NOI Build-Up for 1,100 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
$15.2K $13.80/SF
− Vacancy
−$987 −$0.90/SF
EGI
$14.2K $12.90/SF
− OpEx
−$4.3K −$3.87/SF
NOI
$9.9K $9.03/SF
Area
Tuscaloosa, AL
Vacancy
6.50%
Lease Rate
$13.80 /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%
$198,700
Cap Rate 7%
$141,929
Cap Rate 9%
$110,389
Alternative Uses
Best Use
Multifamily LT 5
$141.9K
$124.2K – $165.6K
NOI $9,935 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$127.4K
$111.5K – $148.7K
NOI $8,921 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$264.3K
$231.3K – $308.4K
NOI $18,504 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Wood-frame duplex with central electric heating and central air conditioning on a concrete driveway.
Where is this duplex located?
The property is located at 603 18th Street Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Duplex at 603 18th Street, Tuscaloosa, AL 35401; 1‑acre lot with 1,100 SF property size; Wood‑frame construction with vinyl flooring
