3505 24th St 3511 Northport, AL 35476-3785
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$2.31M
Range $2.07M – $2.54M (±10%)
Property ID
US03-0974337
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1970
Construction
WOOD
Total area
3,604 SF
Zoning code
RM-2
APN
31-02-09-3-012-030.001
UPID
US03-0974337
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.94M
Blend (final)
Blend
$2.31M
Owner & transaction history
since 2022
Last sale
$2.6M
3 recorded transactions
Zoning & alternative use
RM-2 · Northport, AL
Zoning description
The RM district is intended for medium and high density residential areas characterized by single family detached, twin houses, duplexes and multifamily dwellings
General category
RESIDENTIAL
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 10 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.31M
Value range
$2.07M – $2.54M
±10% around blend
Estimated value / SF
$640 / SF
Confidence
Property data
75
Market benchmarks
33
Comparable evidence
60
$2.07M
blend $2.31M
$2.54M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,604 SF
Year built
1970
Stories
2
APN
31-02-09-3-012-030.001
Assessed value
$221,300
Annual tax
$8,520
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.94M
Range $231k – $2.94M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.31M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 87 sales
$382
+67%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $640/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.55M
Move the market yield to see immediate price impact.
Value / SF
$708
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$161k
$3.21M
$2.30M
$1.79M
$179k
$3.57M
$2.55M
$1.98M
$196k
$3.93M
$2.81M
$2.18M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,520
Tax year 2023
Assessed value
$221,300
Assessed 2023
Previous assessed
$221,300
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$27,200
Assessed improvement
$194,100
Land market value
$136,000
Improvement market value
$970,500
Total market value
$1,106,500
Applied tax rate
5.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1970
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
5
Stories
2
Units
4
Bathrooms
1
Total area
3,604 SF
Zoning code
RM-2
APN
31-02-09-3-012-030.001
UPID
US03-0974337
Jurisdiction
TUSCALOOSA
Zoning & alternative use
RM-2 · Northport, ALZoning RM-2 · permitted uses
RM-2 · Northport, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
The RM district is intended for medium and high density residential areas characterized by single family detached, twin houses, duplexes and multifamily dwellings
General category
RESIDENTIAL
Building & site characteristics
From public records
Year built
1970
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
5
Units
4
Bathrooms
1
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
RM-2
RESIDENTIAL
Jurisdiction
Northport, AL
Recorded code
RM-2
Official district
RM-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RM-2 in Northport, AL.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
Cited sourceThe exact document the profile quotes
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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