101 Ike Rd · Huntsville, AL 35763

$600,000

None bd · None ba · 1,200 sqft · MultiFamily public records · 10 Days on market

Built 1996 1.80 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• 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

PRIME PROPERTY, 3.5 acres in one of Alabama's fastest growing areas, Hampton Cove. Located between Hwy 431 and Old Big Cove Rd. This property has a TOTAL of 10 rental units 3 mobile homes, 6 apartments and 1 Mechanic shop, all 100% occupied. In addition, to the present RENTAL INCOME it has great growth potential for APARTMENT COMPLEX. Located in the county with city water.

Key facts

• 1.8 acre lot
• 13 parking spots
• Listed 10 days

Property features AI

Finance

• HOA & community: Located in the Owens Cross Roads community

Exterior

• Parking: 13 parking spaces; Open parking available; Lot and private parking; Lighted parking; On-street parking; Driveway with circular, dirt, and gravel sections; RV access/parking; Shared driveway
• Utilities: Public sewer; Public water
• Home design: Multi-family residential income property; Not new construction
• Exterior features: No significant view; Public water source

Interior

• Heating & cooling: Heating present; Wall Unit(s) and Window Unit(s) for cooling
• Interior features: Wall and window cooling units

What this means for you Summary

Snapshot

• This is a multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $6k ($67k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $600k).
• Cap rate 17.5% 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.
• Madison County (rural): math 27% / reading 56% proficiency, ranked #19 of 129 in AL (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.5%/yr); 366 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• At $12,364/mo this rent would consume 120% of the median local household income ($123k/yr) (locally 73% 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 $4k of loan paydown is wiped out by about $18k 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 + 3.5% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 5y 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.

Recommended offer $600,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.06% ✓
• Cap rate: 17.54%
• Cash-on-cash: 40.15%
• DSCR: 2.79
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.54% rent growth · sell at horizon

5-year hold

• IRR: 37.2%
• Equity multiple: 2.59×
• Total profit: $267,725
• Equity at exit: $89,462

10-year hold

• IRR: 44.0%
• Equity multiple: 5.30×
• Total profit: $722,903
• Equity at exit: $51,877

Cash invested: $168,000 (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 35763

• Home prices YoY: -3.6%
• Rents YoY: 3.5%
• Active inventory: 366
• Price-to-rent: 40.4×

Monthly cashflow live

• Estimated rent: $12,364 medium
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $9,000/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,596
• Net cashflow: $5,621

Break-even live

Break-even rent $5,249

Max offer price $600,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 10× units	1	1.5	$12,360
Total (10 units)			$12,364

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 Miller Ln Owens Cross Roads, AL	3.0	2.0	1500	$1,395	$0.93	13d	1	0.08mi
1001 Heights Trl SE Brownsboro, AL	1.0–2.0	1.0–2.0	912	$1,655	$1.81	13d	16	0.97mi

Listing history 7 events

1. 2026-06-18
   days on market $600,000 Active 10 DOM
2. 2026-06-17
   days on market $600,000 Active 9 DOM
3. 2026-06-16
   days on market $600,000 Active 8 DOM
4. 2026-06-15
   days on market $600,000 Active 7 DOM
5. 2026-06-14
   days on market $600,000 Active 5 DOM
6. 2026-06-10
   days on market $600,000 Active 2 DOM
7. 2026-06-09
   listed $600,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $148,368
• − Mortgage interest: −$33,609
• − Property taxes: −$9,000
• − Insurance: −$3,000
• − Repairs & maintenance: −$11,869
• − Management: −$11,869
• − Depreciation: −$17,455
• Taxable income: $61,565
• Est. tax owed @ 24.0%: −$14,776
• After-tax cash flow: $52,677/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: Madison County
• NCES district ID: 0102220
• Math proficiency: 27% ▼ -32.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $66,058
• Composite: 37.15/100
• National rank: #4483
• State rank: #19 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

• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 19,819
• Household income: $123,497
• Rent vs Own: 7.5% rent · 92.5% own
• Severe rent burden: 73.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 5% Black 2% Asian 2%
• Common ancestry: Italian 5% Slovak 2% Serbian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Russian/Polish/Slavic 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: ▼ -10.43%
• Current HPI: 281.0561
• Rent YoY: ▲ 3.54%
• 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

+3.6% since first listed

7 events — show timeline

• 2026-06-08 Listed $600,000 VMLS
• 2025-08-10 Rental Removed $695 APPFOLIO
• 2025-08-02 Listed for Rent $695 APPFOLIO
• 2022-03-03 Sold (MLS) $570,000 VMLS
• 2021-12-01 Pending — VMLS
• 2021-10-20 Listed $595,000 VMLS
• 2018-12-27 Sold (Public Records) $579,000 Public Records

Property tax history

+1.9%/yr

Latest (2022): $416 · +12.4% YoY. Source: county tax records.