Duplex With Front
For Sale
$200,000
912 S Oates St., Dothan, AL 36301
Residential Income, Dothan, AL
Property Size2,200 SF
Lot Size0.28 Acres
Price / SF$90.91
Days on Market98
Property Features for 912 S Oates St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Garage - Attached
Appliances
Cook Top, Electric Water Heater, Range, Refrigerator
Elementary school
Girard Primary/Intermediate
Middle school
Dothan Prep/Carver 9th
High school
Dothan High School (Grades 10 - 12)
Subdivision
3 SE-Inside Circle
Standard status
Active
APN
09-07-25-2-002-004-001
Size
2,200 SF
Lot size
0.28 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Water front features
Waterfront
Building Details
Year built
1930
Floors in Building
3
Flooring type
Laminate, Vinyl, Carpet
Listing Agency:
Coldwell Banker/Alfred Saliba · Coldwell Banker Real Estate
(334) 793-6600
Listed By:
Amy Brown · License #718940
(334) 797-5180
Added: May 27
Changed: Aug 19
Last Checked: Sep 1 at 12:06PM
MLS# 213270
Copyright © 2026 Southeast Alabama Association of 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 2,200-square-foot duplex property includes two separate apartments and an office positioned at the front of the building. The occupied apartment contains three bedrooms, one bathroom, an attached garage, a deck off the primary bedroom, and storage beneath the unit. The second apartment is vacant and has one bedroom, one bathroom, updated flooring, fresh paint, and appliances. Existing appliances include a cooktop, range, refrigerator, and electric water heater, with laminate, vinyl, and carpet flooring throughout the property.
Set on a 0.28-acre waterfront parcel at 912 S Oates St. in Dothan, the property has public water and public sewer service. Built in 1930, it combines residential units with an office component in a single property.
Set on a 0.28-acre waterfront parcel at 912 S Oates St. in Dothan, the property has public water and public sewer service. Built in 1930, it combines residential units with an office component in a single property.
Key Highlights
- 2,200 SF property with two separate apartments and a front office
- One apartment has 3 bedrooms, 1 bathroom, an attached garage, deck, and under‑unit storage
- Second apartment includes 1 bedroom, 1 bathroom, updated flooring, paint, and appliances
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
$16,944
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
8.47%
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%
$338,880
$338.9K
Cap Rate 7%
$242,057
$242.1K
Cap Rate 9%
$188,267
$188.3K
Market Conditions
NOI Build-Up for 2,200 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
$27.7K $12.60/SF
− Vacancy
−$5.1K −$2.33/SF
EGI
$22.6K $10.27/SF
− OpEx
−$5.6K −$2.57/SF
NOI
$16.9K $7.70/SF
Area
Houston County, AL
Vacancy
18.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$338,880
Cap Rate 7%
$242,057
Cap Rate 9%
$188,267
Alternative Uses
Best Use
Mixed Use
$280.0K
$245.0K – $326.7K
NOI $19,602 @ 7.0% cap · market cap 9.80%
Second Best
Office B
$242.1K
$211.8K – $282.4K
NOI $16,944 @ 7.0% cap · market cap 8.47%
Theoretical Best
Healthcare Medical
$388.8K
$340.2K – $453.7K
NOI $27,219 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 36301, AL
38,447
Population
17,872
Households
2.2
Avg Household Size
40
Median Age
18%
College-Educated
85%
High-School Grad
89.2 sq mi
ZIP Area
431
Density / Sq Mi
$49,124
Median Household Income
$35,333
Median Earnings
$886
Median Rent
$156,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments accompany a separate front office, with one unit updated and the other offering an attached garage and deck.
Where is this duplex located?
The property is located at 912 S Oates St. Dothan, AL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 2,200 SF property with two separate apartments and a front office; One apartment has 3 bedrooms, 1 bathroom, an attached garage, deck, and under‑unit storage; Second apartment includes 1 bedroom, 1 bathroom, updated flooring, paint, and appliances
