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    Property profile & analytics

    3751 Wesley Dr Montgomery, AL 36111

    • Apartment buildings
    • 6,845 SF
    • 0.48 lot acres
    For Sale
    View listing
    $280,000
    Last Sale
    Oct 04, 2021
    $298,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US03-3113339
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3751 Wesley Dr

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.48 lot acres
    Property size
    6,845 SF
    Zone code
    R-75-M
    Property type
    Apartment buildings
    APN
    10-09-30-4-014-007.000
    APU
    1009304014007000

    Description

    This Montgomery, Alabama multifamily investment opportunity presents a six-unit apartment building situated on Wesley Drive, zip code 36111. The property, built in 1958, consists of two, two-story buildings encompassing a total of 6,204 net rentable square feet. Currently, the occupancy rate is 50%, with four units occupied and two vacant. Four units are occupied, two with Section 8 tenants paying $595 per month, and another long-term tenant paying $650 monthly. One vacant unit requires approximately $7,000 in renovations to become rent-ready. The asking price is $350,000, translating to $58,333.33 per unit. The property boasts a Net Operating Income (NOI) of $3,625, resulting in a 1.04% capitalization rate. Each unit features two bedrooms and one bathroom. Electrical systems have been updated to meet current code. This property offers a chance to acquire a cash-flowing investment, expand a portfolio, and contribute to the local housing market. The property's location in Montgomery County provides access to various amenities and a stable rental market. This is an excellent opportunity for investors seeking a proven income stream with potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $250,000
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $249,000
      Market price range: $250k - $620k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.296
    Latitude
    32.3311
    CBSA code
    33860
    CBSA name
    MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,695
    $1,200
    $33,040
    $34,240
    -
    $6,000
    $165,200
    $171,200

    Comparable in this City

    • Value Estimation
      $295,000
      2,534 SF

      3513 Audubon Rd

      APARTMENT HOUSE (5+ UNITS) • 2,534 SF
      3513 Audubon Rd, Montgomery, AL 36111-2034
      View Details
    • Value Estimation
      $610,000
      5,131 SF

      3701 Wesley Dr

      APARTMENT HOUSE (5+ UNITS) • 5,131 SF
      3701 Wesley Dr, Montgomery, AL 36111-2538
      View Details
    • Value Estimation
      $1,495,000
      900 SF

      3380 Mcgehee Rd

      APARTMENT HOUSE (5+ UNITS) • 900 SF
      3380 Mcgehee Rd, Montgomery, AL 36111-3375
      View Details
    • Value Estimation
      $460,000
      32,902 SF

      3531 Carter Hl Rd

      APARTMENT HOUSE (5+ UNITS) • 32,902 SF
      3531 Carter Hl Rd, Montgomery, AL 36111-3420
      View Details
    • Value Estimation
      $6,190,000
      10,446 SF

      1028 Gln Grattan Dr

      APARTMENT HOUSE (5+ UNITS) • 10,446 SF
      1028 Gln Grattan Dr, Montgomery, AL 36111-1360
      View Details
    • Value Estimation
      $410,000
      1,343 SF

      4500 Debby Dr

      APARTMENT HOUSE (5+ UNITS) • 1,343 SF
      4500 Debby Dr, Montgomery, AL 36111
      View Details

    Similar Nearby for Sale

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      Montgomery Multi-Unit Investment Opportunity

      Charming 6-plex in Montgomery, great investment opportunity.
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      Cloverdale Duplex: Investor Opportunity

      Well-maintained duplex in Cloverdale, ideal for rental income.
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      Montgomery Retail Investment Opportunity

      High-traffic retail building, 42,168 sq ft.
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    • Contact for pricing
      4.50 Acres

      McGehee Road Retail Land Opportunity

      Prime 4.5-acre vacant parcel, high visibility.
      3443 Mcgehee Rd, Montgomery, AL 36111
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    • $350,000

      Prime Montgomery Corner Lot

      24,000 SF Commercial Land, $350,000
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    Similar Nearby for Lease

    • $10 SF/Yr
      36,641 SF

      Sunshine Mall Retail Space Available

      Montgomery, AL Strip Center Space for Lease
      441-449 Eastern Blvd, Montgomery, AL 36111
      View Details
    • $10 SF/Yr
      36,641 SF

      Sunshine Village Retail Center

      Montgomery, AL Strip Mall - 5 Spaces Available
      441-449 Eastern Blvd, Montgomery, AL 36111
      View Details
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    Montgomery, AL 36111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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