Fourplex Residential Income
For Sale
$590,000
2422 Wynterhall Road SE, Huntsville, AL 35803
MULTI_FAMILY - Huntsville, AL
Property Size3,416 SF
Lot Size0.32 Acres
Price / SF$172.72
Days on Market102
Property Features for 2422 Wynterhall Road SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Driveway
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Sugar Mill
Elementary school
Challenger
Middle school
Challenger
High school
Grissom High School
Directions
From Memorial Parkway, East On Hobbs Road, Right On Chaney Thompson, Right Onto Wynterhall. Building On Corner Of Cheney Thompson And Wynterhall.
Standard status
Active
APN
2303083002041.000
Size
3,416 SF
Lot size
0.32 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:
Empire Property Management
(256) 507-7368
Listed By:
Julie Orth · License #100095
(256) 452-5170
Added: May 21
Changed: Jul 28
Last Checked: Aug 30 at 1:06AM
MLS# 21918750
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 fourplex residential income property features four units, each with two bedrooms and two bathrooms. Recent exterior upgrades include new balconies and stairs, and the interior units have fresh paint.
The property is located at 2422 Wynterhall Road SE in Huntsville, Alabama, in Madison County. The listing describes the building as available now.
With the existing unit mix and upgrades completed, the property is positioned as a straightforward four-unit rental asset. The current rents are reported as $1,000 per door, with a projection referenced in the remarks that rents could be closer to $1,200 or higher.
The property is located at 2422 Wynterhall Road SE in Huntsville, Alabama, in Madison County. The listing describes the building as available now.
With the existing unit mix and upgrades completed, the property is positioned as a straightforward four-unit rental asset. The current rents are reported as $1,000 per door, with a projection referenced in the remarks that rents could be closer to $1,200 or higher.
Key Highlights
- Four‑plex in SE Huntsville built in 1984
- Each unit offers 2 bedrooms and 2 bathrooms
- Exterior upgrades completed last year with new balconies and stairs
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
$24,920
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
4.22%
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%
$498,400
$498.4K
Cap Rate 7%
$356,000
$356.0K
Cap Rate 9%
$276,889
$276.9K
Market Conditions
NOI Build-Up for 3,416 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
$43.0K $12.60/SF
− Vacancy
−$7.4K −$2.18/SF
EGI
$35.6K $10.42/SF
− OpEx
−$10.7K −$3.13/SF
NOI
$24.9K $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%
$498,400
Cap Rate 7%
$356,000
Cap Rate 9%
$276,889
Alternative Uses
Best Use
Multifamily LT 5
$356.0K
$311.5K – $415.3K
NOI $24,920 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,577 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$889.5K
$778.3K – $1.04M
NOI $62,267 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 35803, AL
29,001
Population
13,272
Households
2.2
Avg Household Size
43
Median Age
54%
College-Educated
96%
High-School Grad
49.2 sq mi
ZIP Area
589
Density / Sq Mi
$95,182
Median Household Income
$53,416
Median Earnings
$1,221
Median Rent
$259,100
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?
Quadplex - Four-unit residential income building with 2 bed, 2 bath units and exterior upgrades including new balconies and stairs.
Where is this quadplex located?
The property is located at 2422 Wynterhall Road SE Huntsville, AL.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Four‑plex in SE Huntsville built in 1984; Each unit offers 2 bedrooms and 2 bathrooms; Exterior upgrades completed last year with new balconies and stairs
