2704 Lantern Walk SE · Huntsville, AL 35803

$625,000

None bd · 8.0 ba · 4,538 sqft · MultiFamily public records · 28 Days on market

Built 1984 Est $590k · 6% 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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• ARV discount +4.8/15.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• 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: 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

NEW PRICE!!! GREAT INVESTMENT OPPORTUNITY IN SOUTH HUNTSVILLE. 8 UNITS- CONSISTING OF 4- 1 BEDROOM 1 BATH APARTMENTS AND 4 STUDIO APARTMENTS. TENANTS PAY ALL UTILITIES EXCEPT WASTE REMOVAL WHICH IS PAID BY THE OWNER. **MUST CALL LISTING AGENT FOR APPOINTMENT. DO NOT DISTURB TENANTS. EXTRA LARGE LOT

Key facts

• 8 parking spots
• Built 1984
• Listed 28 days

Property features AI

Finance

• Other: Property listed as residential income (multi-family)
• HOA & community: Located in the Sugar Mill subdivision

Exterior

• Parking: Parking lot with 8 spaces
• Utilities: Public water; Public sewer; No gas service
• Home design: Residential income property (multi-family); Built in 1984
• Exterior features: No significant view; Lot dimensions: 212 x 79 x 281 x 168

Interior

• Heating & cooling: Central heating; Central air conditioning
• Interior features: Central heating and central air conditioning

What this means for you Summary

Snapshot

• This is a ?-bed/8.0-bath multifamily listed at $625k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $625k).
• Recommended offer: $616k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: Challenger Elementary School (math 30% / reading 53%, grade F, #232 of 627 statewide, top 37%, 503 students, 43% FRL); Challenger Middle School (math 19% / reading 55%, grade F, #73 of 257 statewide, top 29%, 438 students, 44% FRL); Virgil Grissom High School (math 34% / reading 40%, grade F, #39 of 305 statewide, top 13%, 1,974 students, 43% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+3.7%/yr); 280 active listings in the ZIP; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• At $7,531/mo this rent would consume 90% of the median local household income ($101k/yr) (locally 411% 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 $19k 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 + 3.7% rent growth), your $175k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($616k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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 $334k; list at $625k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $615,625 (1.5% below list)

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: 1.20% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $589,940
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2613 Wynterhall Rd	0.37mi	8/10.0	4,400 (-3%)	2mo	$570,000	$130	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.72% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.18×
• Total profit: $32,296
• Equity at exit: $93,190

10-year hold

• IRR: 14.8%
• Equity multiple: 2.23×
• Total profit: $215,586
• Equity at exit: $54,039

Cash invested: $175,000 (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 35803

• Home prices YoY: -22.9%
• Rents YoY: 3.7%
• Active inventory: 280
• Price-to-rent: 55.3×

Monthly cashflow live

• Estimated rent: $7,531 medium
• Mortgage (P&I): −$3,278
• Tax from tax record: −$399 /mo · $4,784/yr
• Insurance: −$260
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,582
• Net cashflow: $2,013

Break-even live

Break-even rent $4,983

Max offer price $625,000

Occupancy floor 68%

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

Units	Beds	Baths	Est. rent
▸ 8× units	1	1	$7,528
Total (8 units)			$7,531

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: $156,250
• Closing costs: $18,750
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $625,000 Active 28 DOM
2. 2026-06-17
   days on market $625,000 Active 27 DOM
3. 2026-06-16
   days on market $625,000 Active 26 DOM
4. 2026-06-15
   days on market $625,000 Active 25 DOM
5. 2026-06-14
   days on market $625,000 Active 23 DOM
6. 2026-06-10
   days on market $625,000 Active 20 DOM
7. 2026-06-09
   days on market $625,000 Active 19 DOM
8. 2026-06-08
   days on market $625,000 Active 18 DOM
9. 2026-06-07
   days on market $625,000 Active 17 DOM
10. 2026-06-03
    days on market $625,000 Active 13 DOM
11. 2026-06-02
    days on market $625,000 Active 12 DOM
12. 2026-06-01
    days on market $625,000 Active 11 DOM
13. 2026-05-31
    days on market $625,000 Active 10 DOM
14. 2026-05-30
    days on market $625,000 Active 9 DOM
15. 2026-05-21
    listed $625,000 Active
16. 2023-07-14
    status Pending
17. 2023-06-29
    listed $629,000 Active
18. 2018-04-27
    soldstatus $334,500
19. 2013-12-10
    soldstatus $159,000 299-char remark

    Show marketing remark (299 chars)

    NEW PRICE!!! GREAT INVESTMENT OPPORTUNITY IN SOUTH HUNTSVILLE. 8 UNITS- CONSISTING OF 4- 1 BEDROOM 1 BATH APARTMENTS AND 4 STUDIO APARTMENTS. TENANTS PAY ALL UTILITIES EXCEPT WASTE REMOVAL WHICH IS PAID BY THE OWNER. **MUST CALL LISTING AGENT FOR APPOINTMENT. DO NOT DISTURB TENANTS. EXTRA LARGE LOT

20. 2013-12-10
    soldstatus $159,000

    Show marketing remark (299 chars)

    NEW PRICE!!! GREAT INVESTMENT OPPORTUNITY IN SOUTH HUNTSVILLE. 8 UNITS- CONSISTING OF 4- 1 BEDROOM 1 BATH APARTMENTS AND 4 STUDIO APARTMENTS. TENANTS PAY ALL UTILITIES EXCEPT WASTE REMOVAL WHICH IS PAID BY THE OWNER. **MUST CALL LISTING AGENT FOR APPOINTMENT. DO NOT DISTURB TENANTS. EXTRA LARGE LOT

21. 2012-09-12
    listed $179,900 299-char remark

    Show marketing remark (299 chars)

    NEW PRICE!!! GREAT INVESTMENT OPPORTUNITY IN SOUTH HUNTSVILLE. 8 UNITS- CONSISTING OF 4- 1 BEDROOM 1 BATH APARTMENTS AND 4 STUDIO APARTMENTS. TENANTS PAY ALL UTILITIES EXCEPT WASTE REMOVAL WHICH IS PAID BY THE OWNER. **MUST CALL LISTING AGENT FOR APPOINTMENT. DO NOT DISTURB TENANTS. EXTRA LARGE LOT

ⓘ 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: $4,784 · $399/mo
• Projected year-2 tax: $4,784 · $399/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $90,372
• − Mortgage interest: −$35,010
• − Property taxes: −$4,784
• − Insurance: −$3,125
• − Repairs & maintenance: −$7,230
• − Management: −$7,230
• − Depreciation: −$18,182
• Taxable income: $14,812
• Est. tax owed @ 24.0%: −$3,555
• After-tax cash flow: $20,599/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): 29,197
• Household income: $100,846
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 411.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 3% Chinese 2% 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: ▼ -110.53%
• Current HPI: 372.1842
• Rent YoY: ▲ 3.72%
• 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

+247.4% since first listed

7 events — show timeline

• 2026-05-21 Listed $625,000 VMLS
• 2023-07-14 Pending — VMLS
• 2023-06-29 Listed $629,000 VMLS
• 2018-04-27 Sold (Public Records) $334,500 Public Records
• 2013-12-10 Sold (Public Records) $159,000 Public Records
• 2013-12-10 Sold (MLS) $159,000 VMLS
• 2012-09-12 Listed $179,900 VMLS

Property tax history

+9.3%/yr

Latest (2024): $4,784 · +4.6% YoY. Source: county tax records.