Renovated
For Sale
$385,000
3208 Village Drive, Huntsville, AL 35805
MULTI_FAMILY - Huntsville, AL
Property Size3,400 SF
Lot Size0.39 Acres
Price / SF$113.24
Days on Market45
Property Features for 3208 Village Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Appliances
W/D Hookup
Subdivision
Village Crossing
Elementary school
Mcdonnell
Middle school
Whitesburg
High school
Grissom High School
Directions
South On Triana Blvd, Right Onto Village Dr., Building Is On The Right
Standard status
Active
APN
1705151003040.000
Size
3,400 SF
Lot size
0.39 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 429-9360
Added: Jul 22
Changed: Aug 8
Last Checked: Sep 4 at 1:06AM
MLS# 21924474
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1983 and contains 3,400 square feet on a 0.3907-acre parcel. The property is fully occupied and received substantial renovations in 2022, including a replacement roof, exterior paint, landscaping, windows, kitchens, bathrooms, flooring, appliances, water heaters, and HVAC units. Central heating and central air serve the building, with washer and dryer hookups and a parking lot on site.
The property is located in Huntsville near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Public water and public sewer serve the site. Inspections are scheduled after an accepted contract, with proof of funds and a pre-approval letter required with offers.
The property is located in Huntsville near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Public water and public sewer serve the site. Inspections are scheduled after an accepted contract, with proof of funds and a pre-approval letter required with offers.
Key Highlights
- Four‑unit property with 3,400 square feet
- 0.3907‑acre parcel in Huntsville, AL
- 2022 renovations included roof, windows, kitchens, baths, flooring, appliances, water heaters, and HVAC units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,803
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$496,060
$496.1K
Cap Rate 7%
$354,329
$354.3K
Cap Rate 9%
$275,589
$275.6K
Market Conditions
NOI Build-Up for 3,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$42.8K $12.60/SF
− Vacancy
−$7.4K −$2.18/SF
EGI
$35.4K $10.42/SF
− OpEx
−$10.6K −$3.13/SF
NOI
$24.8K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$496,060
Cap Rate 7%
$354,329
Cap Rate 9%
$275,589
Alternative Uses
Best Use
Multifamily LT 5
$354.3K
$310.0K – $413.4K
NOI $24,803 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$306.8K
$268.5K – $357.9K
NOI $21,476 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$885.4K
$774.7K – $1.03M
NOI $61,975 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 35805, AL
23,189
Population
10,618
Households
2.2
Avg Household Size
31
Median Age
18%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
2,521
Density / Sq Mi
$31,247
Median Household Income
$26,824
Median Earnings
$800
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied four-unit property with extensive 2022 improvements and public water and sewer service.
Where is this quadplex located?
The property is located at 3208 Village Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Four‑unit property with 3,400 square feet; 0.3907‑acre parcel in Huntsville, AL; 2022 renovations included roof, windows, kitchens, baths, flooring, appliances, water heaters, and HVAC units
