Huntsville Duplex Near
For Sale
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1006 Lee Dr NW, Huntsville, AL 35816
Duplex near universities, shopping, and entertainment in Huntsville, Alabama.
Property Size1,500 SF
Price / SF$216.67
Days on Market679
Property Features for 1006 Lee Dr NW
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multifamily
Listing Agency:
SVN | AVAT Realty, LLC
(504) 715-7033
Listed By:
Phillip Chenault · License #AL 000137416-0
Source:
Crexi
Added: Sep 23, 2024
Changed: Jul 6
Last Checked: Aug 1 at 6:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | AVAT Realty, LLC
Investment Insights
Based on property information with market context.
Located in a neighborhood in Northwest Huntsville, Alabama, this duplex is situated near Oakwood University and Alabama A&M. The property is also located near multiple shopping areas and entertainment zones. The building is constructed of brick and features a concrete driveway. Each of the two units offers 750 square feet of living space, with a layout that includes two bedrooms, one bathroom, a kitchen, and a living area. The property includes a fenced backyard area for recreation.
Key Highlights
- Brick building with concrete driveway
- Located in a great looking neighborhood in NW Huntsville
- Duplex with two separate units
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 | $18.9k | $12.60 |
| − Vacancy | −$3.3k | −$2.18 |
| EGI | $15.6k | $10.42 |
| − OpEx | −$4.7k | −$3.13 |
| NOI | $10.9k | $7.30 |
1,500 SF · lease $12.60/SF/yr · vacancy 17.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$156.3K
$136.8K – $182.4K
NOI $10,943 @ 7.0% cap · market cap 3.37%
Second Best
Apartment 5plus
$135.4K
$118.4K – $157.9K
NOI $9,475 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$390.6K
$341.8K – $455.7K
NOI $27,342 @ 7.0% cap · market cap 8.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
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?
Duplex - Duplex near universities, shopping, and entertainment in Huntsville, Alabama.
Where is this duplex located?
The property is located at 1006 Lee Dr NW Huntsville, AL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Brick building with concrete driveway; Located in a great looking neighborhood in NW Huntsville; Duplex with two separate units
