Six-Unit Studio Apartment
For Sale
$565,000
4009 Marie Avenue, Huntsville, AL 35816
Residential Income, Huntsville, AL
Property Size2,797 SF
Lot Size0.34 Acres
Price / SF$202
Days on Market51
Property Features for 4009 Marie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Industrial, Multi Family
Parking
11
Parking features
Off Street, Parking Lot
Patio and Porch features
Porch
Exterior features
Curb/Gutters
Appliances
Oven, Refrigerator
Subdivision
Fanning Manor
Elementary school
Sonnie Hereford
Middle school
Huntsville
High school
Huntsville
Directions
West On University Drive, Right On Independence Dr., Right On Marie Avenue, Property Is On The Right. No Signage.
Standard status
Active
APN
1408331002021.000
Size
2,797 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Heating system
Varies by Unit (Heating), Electric (Heating), Wall Furnace
Cooling system
Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
6
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 429-9360
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 4 at 4:06PM
MLS# 21916856
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 apartment property includes six studio units within 2,797 square feet on a 0.3444-acre parcel. Unit layouts feature open kitchens, spacious living areas, and alcoves that can function as dedicated sleeping areas. Interiors are described as modern, while the exterior has been refreshed. The roof dates to approximately 2018.
Built in 1974, the property has off-street parking, a parking lot, porches, public water, and public sewer. Heating varies by unit and includes electric systems and wall furnaces; cooling includes wall units and central air. Ovens and refrigerators are provided. The property is located in Huntsville, and short-term rental use has city approval. Current occupancy is 83.3%.
Built in 1974, the property has off-street parking, a parking lot, porches, public water, and public sewer. Heating varies by unit and includes electric systems and wall furnaces; cooling includes wall units and central air. Ovens and refrigerators are provided. The property is located in Huntsville, and short-term rental use has city approval. Current occupancy is 83.3%.
Key Highlights
- Six studio apartments totaling 2,797 square feet
- 0.3444‑acre parcel in Huntsville
- Roof installed approximately 2018
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
$17,668
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
3.13%
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%
$353,360
$353.4K
Cap Rate 7%
$252,400
$252.4K
Cap Rate 9%
$196,311
$196.3K
Market Conditions
NOI Build-Up for 2,797 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
$39.3K $14.04/SF
− Vacancy
−$7.1K −$2.56/SF
EGI
$32.1K $11.48/SF
− OpEx
−$14.5K −$5.17/SF
NOI
$17.7K $6.32/SF
Area
Huntsville, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
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%
$353,360
Cap Rate 7%
$252,400
Cap Rate 9%
$196,311
Alternative Uses
Best Use
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
83.3%
Occupancy
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Studios include open kitchens, spacious living areas, and alcoves suitable for dedicated sleeping areas.
Where is this apartment building located?
The property is located at 4009 Marie Avenue Huntsville, AL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Six studio apartments totaling 2,797 square feet; 0.3444‑acre parcel in Huntsville; Roof installed approximately 2018
