Renovated Quadplex Near Research
For Sale
$400,000
3822 Cobb Drive, Huntsville, AL 35805
MULTI_FAMILY - Huntsville, AL
Property Size3,336 SF
Lot Size0.22 Acres
Price / SF$119.90
Days on Market44
Property Features for 3822 Cobb Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Exterior features
Sidewalks
Fencing
Privacy
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Glenn
Elementary school
Mcdonnell
Middle school
Whitesburg
High school
Grissom High School
Directions
West On Drake Ave., Left Onto Cobb, Second Building On The Right
Standard status
Active
APN
1706142001002.000
Size
3,336 SF
Lot size
0.22 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1984
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 10
Last Checked: Sep 3 at 4:06PM
MLS# 21924482
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Investment Insights
Based on property information with market context.
This 3,336-square-foot quadplex occupies a 0.22-acre parcel and was built in 1984. Renovation work completed in 2019 included new windows, roof, gutters, entry doors, kitchens, appliances, flooring, bathrooms, electrical wiring, and exterior paint. Four HVAC units were also replaced. A privacy fence, front deck and stairs, parking lot, and landscaping are part of the property improvements. The building is fully occupied.
The property is positioned near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Public water and public sewer serve the site. Interior features include central heating and cooling, electric water heating, ovens, refrigerators, dishwashers, and washer/dryer hookups.
The property is positioned near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Public water and public sewer serve the site. Interior features include central heating and cooling, electric water heating, ovens, refrigerators, dishwashers, and washer/dryer hookups.
Key Highlights
- 3,336 SF quadplex on a 0.22‑acre parcel
- Fully occupied property with 2019 renovations
- 2019 upgrades included kitchens, bathrooms, flooring, windows, roof, and electrical wiring
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
$24,336
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
6.08%
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%
$486,720
$486.7K
Cap Rate 7%
$347,657
$347.7K
Cap Rate 9%
$270,400
$270.4K
Market Conditions
NOI Build-Up for 3,336 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
$42.0K $12.60/SF
− Vacancy
−$7.3K −$2.18/SF
EGI
$34.8K $10.42/SF
− OpEx
−$10.4K −$3.13/SF
NOI
$24.3K $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%
$486,720
Cap Rate 7%
$347,657
Cap Rate 9%
$270,400
Alternative Uses
Best Use
Multifamily LT 5
$347.7K
$304.2K – $405.6K
NOI $24,336 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$301.0K
$263.4K – $351.2K
NOI $21,072 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$868.7K
$760.1K – $1.01M
NOI $60,809 @ 7.0% cap · market cap 15.20%
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
422
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 - Four-unit property with updated interiors, modernized systems, and on-site parking.
Where is this quadplex located?
The property is located at 3822 Cobb Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 3,336 SF quadplex on a 0.22‑acre parcel; Fully occupied property with 2019 renovations; 2019 upgrades included kitchens, bathrooms, flooring, windows, roof, and electrical wiring
