3202 Huntsville Rd · Florence, AL 35630

$785,000

None bd · None ba · 5,808 sqft · MultiFamily · 39 Days on market

Built 1980 Fair condition 6,098 sqft lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. 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

Architectural Roof installed 2024. Refrigerators and stoves in each unit Flooring is Mostly Vinyl Plank 5 - 1 bedroom Apts: The newest lease is $650. The other 4 are currently renting for $450. There is also 5 - 2 Bedroom Apts Rents 475 - 550. 3 rent for $475, 1 rents for $550, and 1 rents for $650 depending on when they move in. Some renters that have been there for a while are paying the lower rent Parking on two sides of building and street parking Water Provided under $200 monthly Built on Slab. part built in 1980 part in 1986 Wired Smoke Detectors. 2 bedroom house next door is can be a possible purchase also along with the Apartments but not able to purchase separate.

Key facts

• Parking on two sides
• Built on slab
• Water provided

Tags

• ARCHITECTURAL ROOF
• REFRIGERATORS AND STOVES
• MOSTLY VINYL PLANK FLOORING
• PARKING ON TWO SIDES
• WATER PROVIDED
• BUILT ON SLAB

What this means for you Summary

Snapshot

• This is a multifamily listed at $785k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $785k).
• Recommended offer: $761k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.6% in Florence — 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 (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.2%/yr); 268 active listings in the ZIP; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• At $8,975/mo this rent would consume 233% of the median local household income ($46k/yr) (locally 1516% 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 $5k of loan paydown is wiped out by about $24k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $220k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($761k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $761,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.18% rent growth · sell at horizon

5-year hold

• IRR: 1.0%
• Equity multiple: 1.04×
• Total profit: $8,625
• Equity at exit: $117,046

10-year hold

• IRR: 13.6%
• Equity multiple: 2.25×
• Total profit: $274,438
• Equity at exit: $67,872

Cash invested: $219,800 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 268
• Price-to-rent: 77.0×

Monthly cashflow live

• Estimated rent: $8,975 medium
• Mortgage (P&I): −$4,117
• Tax est. 1.5%: −$981 /mo · $11,775/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,885
• Net cashflow: $1,665

Break-even live

Break-even rent $6,867

Max offer price $785,000

Occupancy floor 76%

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$4,245
▸ 5× units	2	1	$4,730
Total (10 units)			$8,975

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: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $785,000 Active 39 DOM
2. 2026-06-18
   days on market $785,000 Active 38 DOM
3. 2026-06-17
   days on market $785,000 Active 37 DOM
4. 2026-06-16
   days on market $785,000 Active 36 DOM
5. 2026-06-15
   days on market $785,000 Active 35 DOM
6. 2026-06-14
   days on market $785,000 Active 33 DOM
7. 2026-06-13
   days on market $785,000 Active 32 DOM
8. 2026-06-10
   days on market $785,000 Active 30 DOM
9. 2026-06-09
   days on market $785,000 Active 29 DOM
10. 2026-06-08
    days on market $785,000 Active 28 DOM
11. 2026-06-05
    days on market $785,000 Active 24 DOM
12. 2026-06-02
    days on market $785,000 Active 22 DOM
13. 2026-06-01
    days on market $785,000 Active 21 DOM
14. 2026-05-31
    days on market $785,000 Active 20 DOM
15. 2026-05-30
    days on market $785,000 Active 19 DOM
16. 2026-05-11
    listed $785,000 Active 686-char remark

    Show marketing remark (686 chars)

    Architectural Roof installed 2024. Refrigerators and stoves in each unit Flooring is Mostly Vinyl Plank 5 - 1 bedroom Apts: The newest lease is $650. The other 4 are currently renting for $450. There is also 5 - 2 Bedroom Apts Rents 475 - 550. 3 rent for $475, 1 rents for $550, and 1 rents for $650 depending on when they move in. Some renters that have been there for a while are paying the lower rent Parking on two sides of building and street parking Water Provided under $200 monthly Built on Slab. part built in 1980 part in 1986 Wired Smoke Detectors. 2 bedroom house next door is can be a possible purchase also along with the Apartments but not able to purchase separate.

17. 2025-05-07
    listed $785,000 Active

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

Taxation est. · year 1

• Rental income: $107,700
• − Mortgage interest: −$43,972
• − Property taxes: −$11,775
• − Insurance: −$3,925
• − Repairs & maintenance: −$8,616
• − Management: −$8,616
• − Depreciation: −$22,836
• Taxable income: $7,959
• Est. tax owed @ 24.0%: −$1,910
• After-tax cash flow: $18,073/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations, focusing on exterior repairs, landscaping, and interior updates to improve its resale and rental value.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major landscaping — Overgrown lawn and unkempt appearance

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both landscaping — Improves curb appeal and rental value
• Both replace worn flooring — Enhances interior appearance and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown lawn and unkempt appearance	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both landscaping — Improves curb appeal and rental value ↑
• Both replace worn flooring — Enhances interior appearance and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+0.0% since first listed

2 events — show timeline

• 2026-05-11 Listed $785,000 SAARMLS
• 2025-05-07 Listed $785,000 SAARMLS