3601/3603 Grote St · Huntsville, AL 35805

$150,000

4 bd · 2.0 ba · 1,568 sqft · MultiFamily public records · 8 Days on market

Built 1910 8,600 sqft lot ↓ 45% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Don't disturb tenants. Inspection & Due Diligence period allowed once accepted contract. Each units are renovated & leased for $510 each & $595. Attractive investor duplex w/ some capex opportunity still remaining. Updated interior w/ fresh paint throughout including cabinets, new flooring, exterior work, new lighting, new appliances, new pex plumbing & new electrical outlets. New wall heater & New AC window units. Located in the re-urbanization 35805 zip code, close to Interstate, Army Base, Highway access, Merrimack Broadway Theater, the Breweries, & Low Mill District.

Key facts

• Updated appliances
• New pex plumbing
• New flooring

Tags

• NEW WINDOWS
• UPDATED IN 2022
• NEW FLOORING
• UPDATED LIGHTING
• UPDATED APPLIANCES
• NEW PEX PLUMBING

Property features AI

Finance

• Other: Lot dimensions approximately 86 x 100 (Acres listed in source)
• HOA & community: Subdivision: Huntsville Park

Exterior

• Parking: 4 parking spaces; On-street parking available; Open parking
• Utilities: Natural gas; Public sewer
• Home design: Residential income property (duplex); Built in 1910
• Construction: Aluminum siding
• Exterior features: Patio; Porch; Public water

Interior

• Kitchen: Oven; Refrigerator
• Heating & cooling: Wall furnace (natural gas) heating; Wall cooling units
• Interior features: Storm doors and storm windows

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $150k.

Deal economics

• At list price, monthly cash flow is $802 ($10k/yr) — positive. Per door: $401/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 12.7% vs local median 3.8% in Huntsville — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 82/100 on livability (#3 in AL, #1,082 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Huntsville City (urban): math 21% / reading 46% proficiency, ranked #48 of 129 in AL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ridgecrest Elementary School (math 8% / reading 35%, grade F, #450 of 627 statewide, top 72%, 511 students, 85% FRL); Whitesburg Middle School (math 12% / reading 40%, grade F, #155 of 257 statewide, top 61%, 539 students, 48% FRL); Columbia High School (math 12% / reading 17%, grade F, #220 of 305 statewide, top 77%, 954 students, 50% FRL).
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-13 pts) — the specific schools serving this property underperform the Huntsville City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 133 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $113k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.45% ✓
• Cap rate: 12.71%
• Cash-on-cash: 22.91%
• DSCR: 2.02
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 14.6%
• Equity multiple: 1.58×
• Total profit: $24,172
• Equity at exit: $22,365

10-year hold

• IRR: 22.5%
• Equity multiple: 2.82×
• Total profit: $76,409
• Equity at exit: $12,969

Cash invested: $42,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35805

• Home prices YoY: -17.4%
• Rents YoY: 1.8%
• Active inventory: 133
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,180 high
• Mortgage (P&I): −$787
• Tax from tax record: −$71 /mo · $854/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $802

Break-even live

Break-even rent $1,165

Max offer price $150,000

Occupancy floor 58%

Sensitivity live

Price	-10% $887	-5% $844	+0% $802	+5% $759	+10% $717
Rent	-10% $630	-5% $716	+0% $802	+5% $888	+10% $974
Rate	-1.0pp $877	-0.5pp $840	base $802	+0.5pp $763	+1.0pp $724

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,180
Total (2 units)			$2,180

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3111 Hale Dr SW Huntsville, AL	3.0	1.5	1100	$1,550	$1.41	23d	1	0.10mi
3218 Fairacres Rd SW Huntsville, AL	3.0	1.5	1105	$1,300	$1.18	45d	1	0.27mi
3218 Joslin St SW Huntsville, AL	3.0	1.5	1107	$1,495	$1.35	25d	1	0.31mi
3304 Archer Dr SW Huntsville, AL	3.0	2.0	1642	$1,400	$0.85	45d	1	0.34mi
3902 Mc Calley Pl SW Huntsville, AL	4.0	2.0	1706	$1,600	$0.94	45d	1	0.37mi
3204 Berkley St SW Huntsville, AL	3.0	1.5	1118	$1,400	$1.25	25d	1	0.41mi
3206 Bayless Dr SW Huntsville, AL	3.0	2.0	1150	$1,400	$1.22	15d	1	0.48mi
3806 Cobb Rd SW Huntsville, AL	3.0	2.0	1370	$1,195	$0.87	45d	1	0.59mi
3902 Harwood Ave SW Huntsville, AL	3.0	1.5	1248	$1,400	$1.12	25d	1	0.65mi
4110 Broyles Ave SW Huntsville, AL	3.0	2.0	1100	$1,295	$1.18	25d	1	0.83mi
4015 Apollo Dr SW Huntsville, AL	3.0	2.0	1675	$1,700	$1.01	25d	1	1.00mi
3800 Squaw Valley Dr SW Huntsville, AL	2.0–3.0	2.0	1062	$1,235	$1.16	23d	6	1.13mi
2400 1st St SW Huntsville, AL	2.0–3.0	1.5–2.0	1067	$1,300	$1.22	45d	2	1.25mi
2907 8th Ave SW Huntsville, AL	3.0	2.5	2000	$2,000	$1.00	45d	1	1.29mi
4405 Judith Ln SW Huntsville, AL	1.0–3.0	1.0–2.0	937	$1,149	$1.23	45d	8	1.30mi
2714 9th Ave SW Huntsville, AL	3.0	2.0	1300	$1,500	$1.15	45d	1	1.33mi
2700 9th Ave SW Huntsville, AL	3.0	2.0	1469	$1,495	$1.02	45d	1	1.36mi
3912 Pine Ave SW Huntsville, AL	3.0	1.0	1350	$1,450	$1.07	25d	1	1.38mi
3700 Governors Dr SW Huntsville, AL	3.0	1.0–2.0	1547	$2,588	$1.67	15d	58	1.45mi

Listing history 7 events

1. 2026-06-17
   status $150,000 Pending 8 DOM
2. 2026-06-17
   days on market $150,000 Active 8 DOM
3. 2026-06-16
   days on market $150,000 Active 7 DOM
4. 2026-06-15
   days on market $150,000 Active 6 DOM
5. 2026-06-14
   days on market $150,000 Active 4 DOM
6. 2026-06-09
   remarks 663-char remark
7. 2026-06-09
   listed $150,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $854 · $71/mo
• Projected year-2 tax: $854 · $71/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,160
• − Mortgage interest: −$8,402
• − Property taxes: −$854
• − Insurance: −$750
• − Repairs & maintenance: −$2,093
• − Management: −$2,093
• − Depreciation: −$4,364
• Taxable income: $7,605
• Est. tax owed @ 24.0%: −$1,825
• After-tax cash flow: $7,798/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Huntsville City
• NCES district ID: 0101800
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $48,264
• Composite: 28.84/100
• National rank: #6647
• State rank: #48 of 129 in AL

Livability — Huntsville

• Score: 82/100
• State rank: #3
• US rank: #1082

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntsville, AL
• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 20,856
• Household income: $35,385
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1750.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 392,086 people
• By 2030: 409,788 · +4.5%
• By 2040: 440,557 · +12.4%
• By 2050: 460,990 · +17.6%
• By 2075: 502,872 · +28.3%
• By 2100: 513,623 · +31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Black 31% Hispanic / Latino 24% Two or more races 8%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 76% English-only · Spanish 22% German/W. Germanic 1%

Political lean MEDSL · Madison

• 2024 margin: Lean R (+9.0) · D 44.7% · R 53.7% · Other 1.6%
• 2008→2024 swing: +6.0pp toward D · 2008: -14.9pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+8.0 2016: R+16.8 2012: R+18.7 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.03%
• Current HPI: 228.6963
• Rent YoY: ▲ 1.82%
• Metro: Huntsville, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-45.5% since first listed

10 events — show timeline

• 2026-06-09 Listed $150,000 VMLS
• 2025-04-13 Relisted — VMLS
• 2025-03-15 Delisted — VMLS
• 2025-02-05 Price Changed $170,000 VMLS
• 2025-01-22 Listed $175,000 VMLS
• 2020-08-20 Sold (Public Records) $113,000 Public Records
• 2020-08-17 Sold (MLS) $113,000 VMLS
• 2020-07-17 Contingent — VMLS
• 2020-07-12 Listed $113,000 VMLS
• 2018-01-08 Sold (Public Records) $275,000 Public Records

Property tax history

+7.7%/yr

Latest (2024): $854 · +13.4% YoY. Source: county tax records.