$544,000
SOLD JUN 18, 2025

206 Madison Ave Florence, AL 35630

North Florence Neighborhood
-- Bed
-- Bath
9,068 Sq Ft
1.94 Acres

Recently Sold

$60 Per Sq Ft

20% Below List Price

22 Days on Market

Highlights

  • 1.94 Acre Lot
  • No HOA
  • 1-Story Property

About This Home

As of June 2025

Investor Special! Exceptional opportunity to own a 9-unit, single-story apartment complex in the highly sought-after Seven Points area of Florence, just 1 mile from UNA Flowers Hall. This property features a triplex and three duplexes, offering a total of 9 doors with tremendous potential for added value. Currently, the property is operating at a 7.71% cap rate, but there's significant upside for an investor willing to renovate and bring the units up to market rents. With strategic improvements, this property can unlock higher cash flow and increased value. The location is ideal, offering easy access to local amenities, educational institutions, and major transportation routes. 206,208,210,212,214, 216,218, 220, 222 Madison Ave. Buyer to verify all details.

Last Agent to Sell the Property

Melissa Goduti

MarMac Real Estate - The Shoals License #000164903 Listed on: 03/25/2025

MarMac Real Estate - The Shoals

Co-Listed By

Hannah Taylor

Nxcel Realty License #152712

Last Buyer's Agent

Melissa Goduti

MarMac Real Estate - The Shoals License #000164903 Listed on: 03/25/2025

MarMac Real Estate - The Shoals

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,486

Year Built

  • Built in 1971

Lot Details

  • 1.94 Acre Lot

Interior Spaces

  • 9,068 Sq Ft Home
  • 1-Story Property

Schools

  • Florence Elementary And Middle School
  • Florence High School

Community Details

  • No Home Owners Association
  • 4 Buildings
  • 9 Units
  • Florence Community

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,486

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Lot Dimensions: 1.94 acres 2 parcels
  • Subdivision Name: None
  • PropertySubType: Multi Family
  • PropertyType: Residential Income
  • Lot Size Acres: 1.94
  • Co List Office Mls Id: S1104
  • MLS Status: Sold
  • Multiple_Level_YN: 0
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 1

Interior Features

  • Basement YN: No
  • NumberOfBuildings: 4
  • Stories Total: 1

Exterior Features

  • Waterfront: No

Utilities

  • Sewer: Public Sewer

Condo/Co-op/Association

  • Association: No
  • Planned Community Name: Florence

Schools

  • Middle Or Junior School: Florence

Lot Info

  • Parcel Number: 0

Building Info

  • Year Built: 1971
  • BuildingAreaTotal: 9068.0

Multi Family

  • Tenancy: Multiple Tenants
  • Number Of Units Total: 9

Tax Info

  • Tax Annual Amount: 6485.64

MLS Schools

  • Elementary School: Florence
  • HighSchool: Florence

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 2, 2019
Sold by
Haataja Holding Llc
Bought by
Vivaan Llc
Current Estimated Value
$563,831

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,314
Outstanding Balance
$267,001
Interest Rate
4.4%
Mortgage Type
New Conventional
Estimated Equity
$296,830
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $350,000 None Available
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $304,314 New Conventional
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/18/2025 06/18/25 Sold $544,000 -20.0% $60 / Sq Ft
04/18/2025 04/18/25 Off Market $679,999 -- --
04/15/2025 04/15/25 Pending -- -- --
03/24/2025 03/24/25 For Sale $679,999 -- $75 / Sq Ft
Source: Strategic MLS Alliance (Cullman / Shoals Area)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,642 $33,520 $0 $0
2024 $1,642 $31,340 $2,100 $29,240
2023 $1,536 $1,900 $1,900 $0
2022 $1,432 $29,220 $0 $0
2021 $1,183 $24,140 $0 $0
2020 $1,041 $21,240 $0 $0
2019 $1,041 $21,240 $0 $0
2018 $844 $17,220 $0 $0
2017 $821 $16,760 $0 $0
2016 $778 $15,880 $0 $0
2015 $954 $19,460 $0 $0
2014 $902 $18,400 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Melissa Goduti

    Seller's Agent in 2025

    Melissa Goduti

    MarMac Real Estate - The Shoals

    (256) 284-0351

    5 in this area

    18 Total Sales

    Melissa Goduti
    Section Image
  • Hannah Taylor

    Seller Co-Listing Agent in 2025

    Hannah Taylor

    Nxcel Realty

    (256) 710-5098

    1 in this area

    3 Total Sales

    Hannah Taylor
    Section Image
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Map

Source: Strategic MLS Alliance (Cullman / Shoals Area)

MLS Number: 521582

Strategic MLS Alliance (Cullman / Shoals Area)

APN: 24-02-03-3-001-064.000

Alabama Lauderdale County Florence 35630 North Florence

206 Madison Ave, Florence, AL

Sold

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Strategic MLS Alliance (Cullman / Shoals Area) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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