1309 Halsey Ave NE · Huntsville, AL 35801

$675,000

None bd · None ba · 4,800 sqft · MultiFamily public records · 28 Days on market

Built 1983 0.39 ac 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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• 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 (5+ Unit). Listing-text estimate: 6 units. confirmed

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

Amazing 6 plex available in Five Points! Units are 2 bedroom one bath with 5 units filled. Rent roll is attached. Projected rents are higher. Exterior repair was completed this year and Unit E is being rehabbed. Do not miss out on this on! Call today!

Key facts

• 0.39 acre lot
• 6 parking spots
• Built 1983

Property features AI

Finance

• Other: Property type listed as Residential Income (Apartment)
• HOA & community: Subdivision: H W Newsome

Exterior

• Parking: Parking lot with 6 parking spaces
• Utilities: Public water; Public sewer; No gas service
• Home design: Residential income property (apartment); Two levels; Built in 1983
• Exterior features: No significant view reported

Interior

• Kitchen: Oven; Refrigerator; Electric water heater
• Interior features: Central heating and central air conditioning
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1-bath units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $226/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $675k).
• Recommended offer: $665k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• Zoned schools: Blossomwood Elementary School (math 34% / reading 54%, grade F, #194 of 627 statewide, top 32%, 635 students, 42% FRL); Chapman Middle School (math 2% / reading 23%, grade F, #216 of 257 statewide, top 86%, 368 students, 88% FRL); Lee High School (math 2% / reading 17%, grade F, #252 of 305 statewide, top 84%, 840 students, 77% FRL) — zoned schools average 69% FRL vs 46% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $7,590/mo this rent would consume 86% 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 $5k of loan paydown is wiped out by about $20k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($665k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $250k; list at $675k implies a 170% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $664,875 (1.5% below list)

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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.12% ✓
• Cap rate: 9.47%
• Cash-on-cash: 11.34%
• DSCR: 1.50
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-29,840
• Equity at exit: $100,645

10-year hold

• IRR: 4.3%
• Equity multiple: 1.30×
• Total profit: $57,226
• Equity at exit: $58,362

Cash invested: $189,000 (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 35801

• Home prices YoY: -28.0%
• Rents YoY: 2.1%
• Active inventory: 175
• Price-to-rent: 44.5×

Monthly cashflow live

• Estimated rent: $7,590 high
• Mortgage (P&I): −$3,540
• Tax from tax record: −$390 /mo · $4,675/yr
• Insurance: −$281
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,594
• Net cashflow: $1,359

Break-even live

Break-even rent $5,870

Max offer price $675,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,741	-5% $1,550	+0% $1,359	+5% $1,168	+10% $977
Rent	-10% $759	-5% $1,059	+0% $1,359	+5% $1,659	+10% $1,959
Rate	-1.0pp $1,699	-0.5pp $1,531	base $1,359	+0.5pp $1,184	+1.0pp $1,006

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$7,590
Total (6 units)			$7,590

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $675,000 Active 28 DOM
2. 2026-06-17
   days on market $675,000 Active 27 DOM
3. 2026-06-16
   days on market $675,000 Active 26 DOM
4. 2026-06-15
   days on market $675,000 Active 25 DOM
5. 2026-06-14
   days on market $675,000 Active 23 DOM
6. 2026-06-10
   days on market $675,000 Active 20 DOM
7. 2026-06-09
   days on market $675,000 Active 19 DOM
8. 2026-06-08
   days on market $675,000 Active 18 DOM
9. 2026-06-07
   days on market $675,000 Active 17 DOM
10. 2026-06-03
    days on market $675,000 Active 13 DOM
11. 2026-06-02
    days on market $675,000 Active 12 DOM
12. 2026-06-01
    days on market $675,000 Active 11 DOM
13. 2026-05-31
    days on market $675,000 Active 10 DOM
14. 2026-05-30
    days on market $675,000 Active 9 DOM
15. 2026-05-21
    listed $675,000 Active
16. 2024-11-22
    historical $995
17. 2024-11-07
    listed $995
18. 2024-10-14
    historical $1,095
19. 2024-10-12
    price $1,095
20. 2024-10-05
    listed $1,195
21. 2018-10-19
    soldstatus $250,000

ⓘ 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: $4,675 · $390/mo
• Projected year-2 tax: $4,675 · $390/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 6/10 Major FEMA zone AE · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 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: $91,080
• − Mortgage interest: −$37,810
• − Property taxes: −$4,675
• − Insurance: −$8,494
• − Repairs & maintenance: −$7,286
• − Management: −$7,286
• − Depreciation: −$19,636
• Taxable income: $5,892
• Est. tax owed @ 24.0%: −$1,414
• After-tax cash flow: $14,894/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

+170.0% since first listed

7 events — show timeline

• 2026-05-21 Listed $675,000 VMLS
• 2024-11-22 Rental Removed $995 APPFOLIO
• 2024-11-07 Listed for Rent $995 APPFOLIO
• 2024-10-14 Rental Removed $1,095 APPFOLIO
• 2024-10-12 Price Changed $1,095 APPFOLIO
• 2024-10-05 Listed for Rent $1,195 APPFOLIO
• 2018-10-19 Sold (Public Records) $250,000 Public Records

Property tax history

+8.9%/yr

Latest (2024): $4,675 · +4.3% YoY. Source: county tax records.