Single-Story
For Sale
$80,000
705 4th W Court, Birmingham, AL 35204
Each residence includes one bedroom, one bathroom, a living room, and an eat-in kitchen.
Property Size638 SF
Price / SF$125.39
Days on Market10
Property Features for 705 4th W Court
General Information
Standard status
Active
Size
638 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1965
Buildings
1
Stories
1
Construction
brick and frame
Listing Agency:
Redfin Corporation
(205) 601-5805
Listed By:
Tainielle Humes
(205) 601-5805
Source:
Exitrealty
Added: Aug 22
Changed: Aug 30
Last Checked: Aug 30 at 3:24PM
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 Redfin Corporation
Investment Insights
Based on property information with market context.
This single-story duplex consists of two residences, with each unit offering a one-bedroom, one-bathroom arrangement. Individual interiors include a living room and an eat-in kitchen, creating clearly defined residential spaces within each unit.
The building combines brick and frame construction with a concrete slab foundation. Completed in 1965, the property is positioned near Arkadelphia Road, providing access to Interstate 20 and connections toward Downtown Birmingham and the UAB district.
The building combines brick and frame construction with a concrete slab foundation. Completed in 1965, the property is positioned near Arkadelphia Road, providing access to Interstate 20 and connections toward Downtown Birmingham and the UAB district.
Key Highlights
- Two‑unit duplex with one bedroom and one bathroom in each residence
- Living room and eat‑in kitchen included in both unit layouts
- Single‑story building with brick and frame exterior
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
$4,914
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
6.14%
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%
$98,280
$98.3K
Cap Rate 7%
$70,200
$70.2K
Cap Rate 9%
$54,600
$54.6K
Market Conditions
NOI Build-Up for 638 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
$7.7K $12.12/SF
− Vacancy
−$712 −$1.12/SF
EGI
$7.0K $11.00/SF
− OpEx
−$2.1K −$3.30/SF
NOI
$4.9K $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%
$98,280
Cap Rate 7%
$70,200
Cap Rate 9%
$54,600
Alternative Uses
Best Use
Multifamily LT 5
$70.2K
$61.4K – $81.9K
NOI $4,914 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$65.7K
$57.5K – $76.7K
NOI $4,601 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$149.8K
$131.0K – $174.7K
NOI $10,483 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
950
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 - Each residence includes one bedroom, one bathroom, a living room, and an eat-in kitchen.
Where is this duplex located?
The property is located at 705 4th W Court Birmingham, AL.
What is the asking price?
The asking price for this property is $80,000.
What are key features of this property?
This property features: Two‑unit duplex with one bedroom and one bathroom in each residence; Living room and eat‑in kitchen included in both unit layouts; Single‑story building with brick and frame exterior
