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$ 170,000
Est. payment /mo
Price Dropped by $10K
2200 13th Avenue Phenix City, AL 36867
4 Beds
2 Baths
1,485 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,485 sqft
Price per Sqft $114
Subdivision No Subdivision
MLS Listing ID 231353
Bedrooms 4
Year Built 1988
Lot Size 10,018 Sqft
Property Sub-Type Duplex
Property Description
Investor Opportunity – Income-Producing Duplex with Rent Upside | $170,000 Well-maintained duplex offering immediate rental income with attractive future upside. Unit A is currently rented at $750 per month with a lease in place through January 2027. Unit B is rented at $660 per month with a lease in place through November 2026, providing total current rental income of $1,410 per month. Based on estimated property taxes of approximately $150 per month and insurance of approximately $95 per month, the property generates an estimated NOI of $13,980 annually, representing an approximate 8.2% cap rate at the current $170,000 asking price before consideration of maintenance, vacancy, management, reserves or other investor-specific expenses. Potential combined rents of approximately $1,700 per month would increase annual gross rental income to $20,400 and produce an estimated NOI of approximately $17,460 using the same tax and insurance assumptions—representing a potential cap rate of approximately 10.3%. A new roof was installed in 2022, helping reduce near-term capital improvement needs. Property Highlights: Asking price: $170,000 Current rental income: $1,410/month Unit A: $750/month – leased through January 2027 Unit B: $660/month – leased through November 2026 Estimated current cap rate: 8.2% Potential combined rent: approximately $1,700/month Potential cap rate at $1,700/month: approximately 10.3% New roof installed in 2022 Established rental income with future rent-growth potential Property may be purchased individually or in conjunction with additional investment properties available from the same seller, providing an opportunity for investors seeking to expand their rental portfolio. Contact listing agent for additional property and portfolio information. Do not disturb tenants.
Location
State AL
Area Russell
Interior
Heating Electric
Cooling Central Air
Appliance Refrigerator
Exterior
Parking Features Driveway
Garage No
Building
Lot Description Less than 1/2 Acre, Level
Sewer Public Sewer
Water Public
Others
Special Listing Condition Standard
Listed by Keller Williams Realty River Cities