Two-Unit
New
For Sale
$165,000
910 E 15th Street, Anniston, AL 36207
Income-producing duplex with two currently rented apartments.
Property Size1,769 SF
Price / SF$93.27
Days on Market4
Property Features for 910 E 15th Street
General Information
Standard status
Active
Size
1,769 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2/1
Multifamily Units
2
Building Details
Year Built
1952
Listing Agency:
eXp Realty, LLC Central
(256) 310-0704
Listed By:
Bryan Booth · License #136886
(256) 310-0704
Source:
Exitrealty
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 6:36AM
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 eXp Realty, LLC Central
Investment Insights
Based on property information with market context.
Built in 1952, this duplex contains two apartments, each configured with two bedrooms and one bathroom. Both units are currently rented, providing an existing income-producing setup. The property includes 1,769 square feet and is located at 910 E 15th Street in Anniston, Alabama.
Key Highlights
- Two‑apartment duplex with a 2/1 layout in each unit
- Both apartments are currently rented
- 1,769 square feet of property size
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
$10,420
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
6.32%
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%
$208,400
$208.4K
Cap Rate 7%
$148,857
$148.9K
Cap Rate 9%
$115,778
$115.8K
Market Conditions
NOI Build-Up for 1,769 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
$15.9K $9.00/SF
− Vacancy
−$1.0K −$0.59/SF
EGI
$14.9K $8.42/SF
− OpEx
−$4.5K −$2.52/SF
NOI
$10.4K $5.89/SF
Area
Calhoun 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 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%
$208,400
Cap Rate 7%
$148,857
Cap Rate 9%
$115,778
Alternative Uses
Best Use
Multifamily LT 5
$148.9K
$130.3K – $173.7K
NOI $10,420 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$133.3K
$116.6K – $155.5K
NOI $9,329 @ 7.0% cap · market cap 5.65%
Theoretical Best
Healthcare Medical
$272.0K
$238.0K – $317.3K
NOI $19,037 @ 7.0% cap · market cap 11.54%
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
1,667
Businesses Nearby
Explore this area
Business Placement
Demographics for 36207, AL
19,553
Population
9,260
Households
2.1
Avg Household Size
44
Median Age
32%
College-Educated
90%
High-School Grad
74.8 sq mi
ZIP Area
261
Density / Sq Mi
$70,090
Median Household Income
$39,898
Median Earnings
$890
Median Rent
$195,000
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 - Income-producing duplex with two currently rented apartments.
Where is this duplex located?
The property is located at 910 E 15th Street Anniston, AL.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑apartment duplex with a 2/1 layout in each unit; Both apartments are currently rented; 1,769 square feet of property size
