602 Beirne Ave · Huntsville, AL 35801

$445,000

9 bd · 2.0 ba · 1,920 sqft · MultiFamily public records · 91 Days on market

Built 1920 5,680 sqft lot $232/sqft · 29% above area Est $344k · 29% over

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Why this score? — see what drove the C 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 +29.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Livability +4.1/5.0
• Rent growth +3.0/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Triplex in Five Points! Located near downtown and the medical district, very convenient to Huntsville Hospital! R2B multifamily zoning

Key facts

• Medical district
• Near downtown
• Huntsville hospital

Tags

• NEAR DOWNTOWN
• MEDICAL DISTRICT
• HUNTSVILLE HOSPITAL
• R2B MULTIFAMILY ZONING

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/3.0-bath units multifamily listed at $445k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $526/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $445k).
• Recommended offer: $405k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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.
• Market conditions: Rents rising (+2.1%/yr); 175 active listings in the ZIP; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• At $5,330/mo this rent would consume 61% of the median local household income ($106k/yr) (locally 547% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 + 2.1% rent growth), your $125k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($405k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $404,950 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.19%
• DSCR: 1.68
• GRM: 7.0

CMA / ARV

• ARV (median comp): $344,316
• List price: $445,000
• Delta: 29.24%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.06% rent growth · sell at horizon

5-year hold

• IRR: 4.9%
• Equity multiple: 1.19×
• Total profit: $23,188
• Equity at exit: $66,351

10-year hold

• IRR: 13.5%
• Equity multiple: 2.03×
• Total profit: $128,693
• Equity at exit: $38,475

Cash invested: $124,600 (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 35801

• Home prices YoY: -28.0%
• Rents YoY: 2.1%
• Active inventory: 175
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $5,330 high
• Mortgage (P&I): −$2,334
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,119
• Net cashflow: $1,578

Break-even live

Break-even rent $3,333

Max offer price $445,000

Occupancy floor 65%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	3	$5,331
Total (3 units)			$5,330

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: $111,250
• Closing costs: $13,350
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $445,000 Active 91 DOM
2. 2026-06-17
   days on market $445,000 Active 90 DOM
3. 2026-06-16
   days on market $445,000 Active 89 DOM
4. 2026-06-15
   days on market $445,000 Active 88 DOM
5. 2026-06-14
   days on market $445,000 Active 86 DOM
6. 2026-06-10
   days on market $445,000 Active 83 DOM
7. 2026-06-09
   days on market $445,000 Active 82 DOM
8. 2026-06-08
   days on market $445,000 Active 81 DOM
9. 2026-06-07
   days on market $445,000 Active 80 DOM
10. 2026-06-03
    days on market $445,000 Active 76 DOM
11. 2026-06-02
    days on market $445,000 Active 75 DOM
12. 2026-06-01
    days on market $445,000 Active 74 DOM
13. 2026-05-31
    days on market $445,000 Active 73 DOM
14. 2026-05-30
    days on market $445,000 Active 72 DOM
15. 2026-03-19
    listed $445,000 Active 135-char remark

    Show marketing remark (135 chars)

    Triplex in Five Points! Located near downtown and the medical district, very convenient to Huntsville Hospital! R2B multifamily zoning

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$457/yr (+$38/mo · 33.4%)

ⓘ 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 ≥104°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: $63,960
• − Mortgage interest: −$24,927
• − Property taxes: −$1,368
• − Insurance: −$2,225
• − Repairs & maintenance: −$5,117
• − Management: −$5,117
• − Depreciation: −$12,945
• Taxable income: $12,261
• Est. tax owed @ 24.0%: −$2,943
• After-tax cash flow: $15,989/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): 23,357
• Household income: $105,585
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 547.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Black 8% Two or more races 8% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 6% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada, China
• Languages at home: 96% English-only · Spanish 3% German/W. Germanic 1% Other Indo-European 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: ▼ -182.95%
• Current HPI: 471.094
• Rent YoY: ▲ 2.06%
• 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

1 event — show timeline

• 2026-03-19 Listed $445,000 VMLS

Property tax history

+3.3%/yr

Latest (2024): $1,368 · +4.2% YoY. Source: county tax records.