2-Bedroom 4-Plex
2223 Jonathan Drive Huntsville, AL 35810
New
For Sale
$385,000
MULTI_FAMILY - Huntsville, AL
Property Size3,498 SF
Lot Size0.50 Acres
Price / SF$110.06
Days on Market5
Property Features for 2223 Jonathan Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 3,498 SF
- Lot size
- 0.50 Acres
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Number of units
- 4
Listing Agency:
Heritage Properties
(256) 316-0304
Listed By:
Donald Steelman · License #78884
(256) 316-0456
Added: Jul 20
Last Checked: Jul 24 at 10:06PM
MLS# 21924281
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Investment Insights
Based on property information with market context.
This four-unit residential income property offers (4) 2-bedroom, 2-bath units, each with a living room and eat-in kitchen. The units also feature large closets and private parking. Management is noted as RCPM, and showings must be coordinated with tenants in place.
Per the current leasing information provided, three units are under lease at $900, $850, and $970 per month, while the remaining unit is available for rent now at $970. Tenants are responsible for all utilities except trash and lawn care.
The property includes a total lot size of 0.5 acres and is listed for sale in Huntsville, Alabama (Madison County).
Per the current leasing information provided, three units are under lease at $900, $850, and $970 per month, while the remaining unit is available for rent now at $970. Tenants are responsible for all utilities except trash and lawn care.
The property includes a total lot size of 0.5 acres and is listed for sale in Huntsville, Alabama (Madison County).
Key Highlights
- Awesome 4‑plex in Huntsville, AL with four 2 bed, 2 bath units
- Three units are under lease at $900, $850, and $970; Unit D is available and priced at $970
- Total possible gross monthly income of $3,710 based on current rents
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.1k | $12.60 |
| − Vacancy | −$7.6k | −$2.18 |
| EGI | $36.5k | $10.42 |
| − OpEx | −$10.9k | −$3.13 |
| NOI | $25.5k | $7.30 |
3,498 SF · lease $12.60/SF/yr · vacancy 17.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$364.5K
$319.0K – $425.3K
NOI $25,518 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$910.9K
$797.0K – $1.06M
NOI $63,762 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 2-bedroom, 2-bath units with private parking and in-unit living and dining areas.
Where is this quadplex located?
The property is located at 2223 Jonathan 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: Awesome 4‑plex in Huntsville, AL with four 2 bed, 2 bath units; Three units are under lease at $900, $850, and $970; Unit D is available and priced at $970; Total possible gross monthly income of $3,710 based on current rents
