Two-Bedroom Duplex with Covered
For Sale
$190,000
6505 Covington Villas Drive, Tuscaloosa, AL 35405
Fenced outdoor space, generous storage, and interstate access support a convenient, low-maintenance residence.
Property Size1,256 SF
Price / SF$151.27
Days on Market18
Property Features for 6505 Covington Villas Drive
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Amenities
fenced backyard
covered patio
Building Details
Year Built
2005
Listing Agency:
Harwood Real Estate LLC
(205) 242-7104
Listed By:
Kim Harwood · License #118505969
Source:
Thegraygroupal
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 31 at 1:08PM
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 Harwood Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 2005, this 1,256-square-foot duplex in Tuscaloosa offers a two-bedroom, two-bath layout with spacious bedrooms and ample closet storage. The residence includes a fenced backyard and covered patio, extending the usable living area outdoors while keeping maintenance practical. The property is located at 6505 Covington Villas Drive, with a dog park across the street and interstate access nearby. Its established condition and functional configuration support both owner occupancy and rental use.
Key Highlights
- 1,256‑square‑foot duplex with 2 bedrooms and 2 baths
- Built in 2005
- Fenced backyard with covered patio
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
$11,344
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
5.97%
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%
$226,880
$226.9K
Cap Rate 7%
$162,057
$162.1K
Cap Rate 9%
$126,044
$126.0K
Market Conditions
NOI Build-Up for 1,256 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
$17.3K $13.80/SF
− Vacancy
−$1.1K −$0.90/SF
EGI
$16.2K $12.90/SF
− OpEx
−$4.9K −$3.87/SF
NOI
$11.3K $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%
$226,880
Cap Rate 7%
$162,057
Cap Rate 9%
$126,044
Alternative Uses
Best Use
Multifamily LT 5
$162.1K
$141.8K – $189.1K
NOI $11,344 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$145.5K
$127.3K – $169.8K
NOI $10,186 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$301.8K
$264.1K – $352.1K
NOI $21,128 @ 7.0% cap · market cap 11.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 35405, AL
45,155
Population
22,260
Households
2
Avg Household Size
34
Median Age
31%
College-Educated
94%
High-School Grad
52.9 sq mi
ZIP Area
854
Density / Sq Mi
$61,371
Median Household Income
$39,077
Median Earnings
$1,057
Median Rent
$224,900
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 - Fenced outdoor space, generous storage, and interstate access support a convenient, low-maintenance residence.
Where is this duplex located?
The property is located at 6505 Covington Villas Drive Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: 1,256‑square‑foot duplex with 2 bedrooms and 2 baths; Built in 2005; Fenced backyard with covered patio
