Quadplex with Central
For Sale
$574,900
2706 Lantern Walk, Huntsville, AL 35803
MULTI_FAMILY - Huntsville, AL
Property Size3,352 SF
Lot Size0.24 Acres
Price / SF$171.51
Days on Market55
Property Features for 2706 Lantern Walk
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family
Parking
6
Parking features
Driveway
Appliances
Oven, Refrigerator, W/D Hookup
Subdivision
Sugar Mill
Elementary school
Challenger
Middle school
Challenger
High school
Grissom High School
Directions
From Hobbs Road S Chaney Thompson R Lantern Walk
Standard status
Active
APN
2303083002014.000
Size
3,352 SF
Lot size
0.24 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
2
Number of units
4
Listing Agency:
David Frederick Realty
(256) 539-5393
Listed By:
David Frederick · License #53565
(256) 990-2605
Added: Jul 6
Changed: Aug 1
Last Checked: Aug 29 at 7:06PM
MLS# 21922861
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Investment Insights
Based on property information with market context.
Quadplex in Huntsville, AL at 2706 Lantern Walk. The property sits on a 0.243-acre lot and contains 3,352 square feet. Residential units include an oven, refrigerator, and W/D hookup. Heating is electric with central heating, and cooling is provided by central air. Parking is available via driveway.
The seller requests that tenants not be disturbed. Unit B is being turned, and units are made available for inspection after an accepted contract. Cash or prequalified offers only.
Utilities include public water and public sewer, supporting straightforward residential operations within the quadplex configuration.
The seller requests that tenants not be disturbed. Unit B is being turned, and units are made available for inspection after an accepted contract. Cash or prequalified offers only.
Utilities include public water and public sewer, supporting straightforward residential operations within the quadplex configuration.
Key Highlights
- 0.243‑acre lot with 3,352 square feet in a quadplex
- Central air plus central heating with electric heat
- Oven, refrigerator, and W/D hookup in the 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
$24,453
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
4.25%
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%
$489,060
$489.1K
Cap Rate 7%
$349,329
$349.3K
Cap Rate 9%
$271,700
$271.7K
Market Conditions
NOI Build-Up for 3,352 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
$42.2K $12.60/SF
− Vacancy
−$7.3K −$2.18/SF
EGI
$34.9K $10.42/SF
− OpEx
−$10.5K −$3.13/SF
NOI
$24.5K $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%
$489,060
Cap Rate 7%
$349,329
Cap Rate 9%
$271,700
Alternative Uses
Best Use
Multifamily LT 5
$349.3K
$305.7K – $407.6K
NOI $24,453 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$302.5K
$264.7K – $352.9K
NOI $21,173 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$872.9K
$763.8K – $1.02M
NOI $61,100 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
98
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 - Quadplex with central air, electric and central heat, and public water and sewer for four residential units.
Where is this quadplex located?
The property is located at 2706 Lantern Walk Huntsville, AL.
What is the asking price?
The asking price for this property is $574,900.
What are key features of this property?
This property features: 0.243‑acre lot with 3,352 square feet in a quadplex; Central air plus central heating with electric heat; Oven, refrigerator, and W/D hookup in the units
