Renovated Quadplex with
For Sale
$400,000
3822 Cobb Drive, Huntsville, AL 35805
Residential Income, Huntsville, AL
Property Size3,336 SF
Lot Size0.22 Acres
Price / SF$119.90
Days on Market60
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: Sep 7
Last Checked: Sep 19 at 4:06PM
MLS# 21924482
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 quadplex contains 3,336 square feet on a 0.22-acre lot and was built in 1984. The property was renovated in 2019 with new windows, roofing, gutters, front stairs and deck, kitchens, appliances, flooring, bathrooms, doors, electrical panel and wiring, exterior paint, and four HVAC units. A new parking lot, landscaping, and rear privacy fence were also added.
The property is fully occupied and includes central heating and cooling, electric water heating, public water, public sewer, sidewalk access, and a parking lot. It is located near the Research Park district, the University of Alabama campus, and Redstone Arsenal in Huntsville. Additional features include ovens, refrigerators, dishwashers, washer/dryer hookups, and privacy fencing.
The property is fully occupied and includes central heating and cooling, electric water heating, public water, public sewer, sidewalk access, and a parking lot. It is located near the Research Park district, the University of Alabama campus, and Redstone Arsenal in Huntsville. Additional features include ovens, refrigerators, dishwashers, washer/dryer hookups, and privacy fencing.
Key Highlights
- Fully occupied quadplex with 3,336 square feet
- 0.22‑acre lot with parking lot and rear privacy fence
- 2019 renovation included kitchens, bathrooms, flooring, windows, roof, and electrical updates
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
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with updated interiors, central HVAC, public utilities, and a fenced rear lot.
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: Fully occupied quadplex with 3,336 square feet; 0.22‑acre lot with parking lot and rear privacy fence; 2019 renovation included kitchens, bathrooms, flooring, windows, roof, and electrical updates
