1505 Medland Rd · Huntsville, AL 35816

$391,900

8 bd · 2.0 ba · 3,344 sqft · MultiFamily public records · 83 Days on market

Built 1984 0.27 ac lot $117/sqft · 7% below area Est $414k · 5% under

---

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 +19.3/30.0
• ARV discount +9.9/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• 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: 4 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

Excellent multi-family investment opportunity in Huntsville, AL. This fourplex offers four 2-bedroom, 1-bath apartments in a highly desirable location near UAH, Highway 72, I 565, Sparkman Drive, MidCity &Downtown Huntsville. Improvements include updated LVP flooring throughout, updated lighting, ceiling fans, a new HVAC unit in 2025, and a separate private storage room for each unit. Unit B's water heater is approximately 3 years old, while Unit A's water heater was replaced in 2025. Strong location, solid updates, and close proximity to major Huntsville attractions make this a standout investment property. Property also has privacy fence.

Key facts

• Private storage room
• Ceiling fans
• Updated lvp flooring

Tags

• HIGHLY DESIRABLE LOCATION
• UPDATED LVP FLOORING
• UPDATED LIGHTING
• CEILING FANS
• NEW HVAC UNIT
• PRIVATE STORAGE ROOM

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $392k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive. Per door: $108/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $379k (3.2% below list).
• Recommended offer: $368k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 (+2.7%/yr); 64 active listings in the ZIP; lower-income renter base — watch delinquency; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• At $3,793/mo this rent would consume 113% of the median local household income ($40k/yr) (locally 1145% 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 $12k 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 83 days — a 6% lower offer ($368k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 $330k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $368,386 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.73%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $413,879
• List price: $391,900
• Delta: -5.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 Medland Rd	0.00mi	8/4.0	3,280 (-2%)	1mo	$391,900	$119	88
4421 Torrance Dr Unit ABCDEF	0.10mi	8/4.0	3,280 (-2%)	16mo	$495,000	$151	71
1420 Ascent Trl	0.18mi	8/6.0	3,644 (+9%)	17mo	$335,000	$92	46
1412 Ascent Trl	0.24mi	8/4.0	3,720 (+11%)	21mo	$415,000	$112	44
4922 Cotton Row NW	0.65mi	8/—	3,796 (+14%)	9mo	$385,000	$101	40

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 · 2.66% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-37,306
• Equity at exit: $58,434

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-2,442
• Equity at exit: $33,884

Cash invested: $109,732 (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 35816

• Home prices YoY: -9.0%
• Rents YoY: 2.7%
• Active inventory: 64
• Price-to-rent: 34.4×

Monthly cashflow live

• Estimated rent: $3,793 high
• Mortgage (P&I): −$2,055
• Tax from tax record: −$346 /mo · $4,150/yr
• Insurance: −$163
• HOA: −$0
• Vacancy / Maint / Mgmt: −$797
• Net cashflow: $432

Break-even live

Break-even rent $3,246

Max offer price $391,900

Occupancy floor 84%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,792
Total (4 units)			$3,793

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: $97,975
• Closing costs: $11,757
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-03
   days on market $391,900 Active 83 DOM
2. 2026-06-02
   days on market $391,900 Active 82 DOM
3. 2026-06-01
   days on market $391,900 Active 81 DOM
4. 2026-05-31
   days on market $391,900 Active 80 DOM
5. 2026-05-30
   days on market $391,900 Active 79 DOM
6. 2026-04-17
   price $391,900 652-char remark

   Show marketing remark (652 chars)

   Excellent multi-family investment opportunity in Huntsville, AL. This fourplex offers four 2-bedroom, 1-bath apartments in a highly desirable location near UAH, Highway 72, I 565, Sparkman Drive, MidCity &Downtown Huntsville. Improvements include updated LVP flooring throughout, updated lighting, ceiling fans, a new HVAC unit in 2025, and a separate private storage room for each unit. Unit B's water heater is approximately 3 years old, while Unit A's water heater was replaced in 2025. Strong location, solid updates, and close proximity to major Huntsville attractions make this a standout investment property. Property also has privacy fence.

7. 2026-03-12
   listed $403,500 Active 652-char remark

   Show marketing remark (652 chars)

   Excellent multi-family investment opportunity in Huntsville, AL. This fourplex offers four 2-bedroom, 1-bath apartments in a highly desirable location near UAH, Highway 72, I 565, Sparkman Drive, MidCity &Downtown Huntsville. Improvements include updated LVP flooring throughout, updated lighting, ceiling fans, a new HVAC unit in 2025, and a separate private storage room for each unit. Unit B's water heater is approximately 3 years old, while Unit A's water heater was replaced in 2025. Strong location, solid updates, and close proximity to major Huntsville attractions make this a standout investment property. Property also has privacy fence.

8. 2025-12-21
   historical
9. 2025-11-10
   historical Contingent
10. 2025-10-01
    listed $399,900 Active
11. 2024-04-10
    historical $825
12. 2024-03-13
    price $825
13. 2024-01-12
    listed $850
14. 2024-01-12
    historical $850
15. 2023-11-17
    price $850
16. 2023-11-03
    listed $925
17. 2021-05-19
    soldstatus $330,000
18. 2021-05-18
    soldstatus $330,000 Sold
19. 2021-04-20
    status Pending
20. 2021-04-14
    listed $325,000 Active
21. 2020-01-10
    soldstatus $166,000
22. 2018-03-30
    soldstatus $152,000
23. 2018-03-29
    soldstatus $152,000
24. 2018-02-21
    listed $170,000

ⓘ 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: $4,150 · $346/mo
• Projected year-2 tax: $4,150 · $346/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $45,516
• − Mortgage interest: −$21,952
• − Property taxes: −$4,150
• − Insurance: −$1,960
• − Repairs & maintenance: −$3,641
• − Management: −$3,641
• − Depreciation: −$11,401
• Taxable loss: −$1,230
• Est. tax savings @ 24.0%: +$295
• After-tax cash flow: $5,481/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): 15,939
• Household income: $40,242
• Rent vs Own: 75.9% rent · 24.1% own
• Severe rent burden: 1145.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 22% Hispanic / Latino 9% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 1% Italian 1% Swedish 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% 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: ▼ -24.06%
• Current HPI: 243.5404
• Rent YoY: ▲ 2.66%
• 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

+130.5% since first listed

19 events — show timeline

• 2026-04-17 Price Changed $391,900 VMLS
• 2026-03-12 Listed $403,500 VMLS
• 2025-12-21 Delisted — VMLS
• 2025-11-10 Contingent — VMLS
• 2025-10-01 Listed $399,900 VMLS
• 2024-04-10 Rental Removed $825 APPFOLIO
• 2024-03-13 Price Changed $825 APPFOLIO
• 2024-01-12 Listed for Rent $850 APPFOLIO
• 2024-01-12 Rental Removed $850 APPFOLIO
• 2023-11-17 Price Changed $850 APPFOLIO
• 2023-11-03 Listed for Rent $925 APPFOLIO
• 2021-05-19 Sold (Public Records) $330,000 Public Records
• 2021-05-18 Sold (MLS) $330,000 VMLS
• 2021-04-20 Pending — VMLS
• 2021-04-14 Listed $325,000 VMLS
• 2020-01-10 Sold (Public Records) $166,000 Public Records
• 2018-03-30 Sold (Public Records) $152,000 Public Records
• 2018-03-29 Sold (MLS) $152,000 VMLS
• 2018-02-21 Listed $170,000 VMLS

Property tax history

+18.2%/yr

Latest (2024): $4,150 · +11.4% YoY. Source: county tax records.