Duplex Rental Property with Two
For Sale
$319,999
7845 Claremont, Foley, AL 36535
Residential Income, Foley, AL
Property Size2,400 SF
Lot Size0.48 Acres
Price / SF$133.33
Days on Market19
Property Features for 7845 Claremont
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 3
Patio and Porch features
Porch
Appliances
Cooktop, Microwave, Dishwasher, Refrigerator, Smoke Detector
Subdivision
Briarwood Estates
Lot features
Less Than 1 Acre
Elementary school
Foley Elementary
Middle school
Foley Middle
High school
Foley High
Directions
Foley, AL
Standard status
Active
APN
61-04-19-0-000-030.001
Size
2,400 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
Lot 16 Blk D Briarwood Estates Pb7 Pg150
Tax Annual Amount
492
Legal Description
Lot 16 Blk D Briarwood Estates Pb7 Pg150
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1990
Floors in Building
1
Roof type
Composition
Architectural style
Other
Listing Agency:
Goode Realty, LLC
(251) 981-2929
Listed By:
Nicholas Hehman · License #159777-1
(251) 223-1563
Added: Aug 4
Changed: Aug 22
Last Checked: Aug 22 at 6:06PM
MLS# 409429
Copyright © 2026 Baldwin REALTORS®. 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.
This duplex property comprises two separate mobile homes totaling 2,400 square feet on 0.475 acres. Each residence includes three bedrooms and two bathrooms, creating six bedrooms and four bathrooms across the property. Both homes were built in 1990 and are currently producing rental income.
The property is located in Foley, Alabama, within Baldwin County and ZIP Code 36535. Existing features include electric heating, composition roofs, porches, and appliances including cooktops, microwaves, dishwashers, refrigerators, and smoke detectors. Reported rental performance reflects an approximate 12.38% gross annual return before expenses. The two-residence layout supports separate household occupancy and provides flexibility for continued rental use or living in one home while renting the other.
The property is located in Foley, Alabama, within Baldwin County and ZIP Code 36535. Existing features include electric heating, composition roofs, porches, and appliances including cooktops, microwaves, dishwashers, refrigerators, and smoke detectors. Reported rental performance reflects an approximate 12.38% gross annual return before expenses. The two-residence layout supports separate household occupancy and provides flexibility for continued rental use or living in one home while renting the other.
Key Highlights
- Two separate mobile homes on 0.475 acres
- Each residence offers 3 bedrooms and 2 bathrooms
- Combined property size is 2,400 square feet
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
$21,978
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
6.87%
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%
$439,560
$439.6K
Cap Rate 7%
$313,971
$314.0K
Cap Rate 9%
$244,200
$244.2K
Market Conditions
NOI Build-Up for 2,400 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
$33.1K $13.80/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$31.4K $13.08/SF
− OpEx
−$9.4K −$3.92/SF
NOI
$22.0K $9.16/SF
Area
Baldwin County, AL
Vacancy
5.20%
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%
$439,560
Cap Rate 7%
$313,971
Cap Rate 9%
$244,200
Alternative Uses
Best Use
Multifamily LT 5
$314.0K
$274.7K – $366.3K
NOI $21,978 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$279.5K
$244.5K – $326.0K
NOI $19,562 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$577.2K
$505.0K – $673.4K
NOI $40,401 @ 7.0% cap · market cap 12.63%
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
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
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 - Two separate mobile residences currently generate rental income and offer a flexible two-household configuration.
Where is this duplex located?
The property is located at 7845 Claremont Foley, AL.
What is the asking price?
The asking price for this property is $319,999.
What are key features of this property?
This property features: Two separate mobile homes on 0.475 acres; Each residence offers 3 bedrooms and 2 bathrooms; Combined property size is 2,400 square feet
