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RYLAND RIDGE
BO [email protected] 458 8120
MICAH DODDSenior [email protected] 458 8021
DONALD [email protected] 458 8110
113 RYLAND RIDGE CIRCLE, HUNTSVILLE, AL 35811
26 UNITS
HUNTSVILLE, AL
BUILT 2001-2015
26 Units
Huntsville, AL
Built 2001-2015
100% Occupied
PROPERTY SUMMARY
UNIT MIX SUMMARY
TOTAL/AVG.Units 26
Unit SF 821Current Mkt
Rent $805
Mkt RentPSF $0.98
PROVEN VALUE ADD POTENTIAL
A mixture of strong demand and under market rents, Ryland Ridge maintains 100% occupancy with a wait list. A new owner can increase rents $100+ over in-place rents with a light value add program (modern paint scheme & updated counters)
Below-market rents allow for organic rent increases if a new investor elects not to renovate. Turned units can rent for $800-$825/month without renovation
Completing the current utility reimbursement program will result in a $6,840 increase to NOI, assuming 95% occupancy. The current owner has implemented $25 monthly utility reimbursement charges on two units. A new owner has the opportunity to implement these $25 monthly charges on the remaining 24 units
New owner has the option to convert ground-level space into a 27th unit. The unit is located in the basement of unit 113 and currently has plumbing & drywall installed. Estimated cost to convert the space is ~$30,000 and would result in additional revenue of $9,600 annually, assuming rent of $800/month.
LOCATED IN BOOMING HUNTSVILLE
Huntsville has the most compelling job story in Alabama, adding over 9,000 jobs in 2018
Recent announcements by Toyota-Mazda (4,000 jobs), Facebook ($750M investment), and Polaris (1,700 jobs) continue unprecedented momentum for Huntsville’s economy
Ryland Ridge is in close proximity to new retail developments including Publix, Walmart, and Starbucks
APPEALING AND EFFICIENT DESIGN
Units at Ryland Ridge were built between 2001-2015, and can be purchased well below replacement cost
The single-family design at Ryland Ridge is appealing to renters and offers unique amenities including private driveways, front & back yards, stained concrete floors, etc.
Current ownership has reinvested significant capital into the asset, and positioned a new investor to take over a well-maintained asset with no significant deferred maintenance
DELIVERED FREE & CLEAR
The property will be delivered free & clear of any existing debt. The property sizes well for Freddie & Fannie small balance programs along with traditional bank financing
GOVERNORS DR SE
GOVERNORS DR SE
MEDICALRETAILEDUCATIONBUSINESSMILITARYINDUSTRIALSITE
CHASE INDUSTRIAL PARK1,700 AC
NORTH HUNTSVILLE INDUSTRIAL PARK
9,700 JOBS SUPPORTED
UAH9,101 STUDENTS
1,660 EMPLOYEES
CUMMINGS RESEARCH PARK300+COMPANIES
25,000 EMPLOYEES
HUNTSVILLE CBD
REDSTONE ARSENAL35,000 EMPLOYEES
RYLAND RIDGE
HUNTSVILLE HOSPITAL6,341 EMPLOYEES
JETPLEX
GREENBRIER
LOWE
PEEBLES
TOYOTA-MAZDA PLANT$1.6 BILLION - 4,000 JOBS
I-565
MIDCITY HUNTSVILLE100 AC MIXED-USE
DEVELOPMENT
HUNTSVILLE, ALWith an MSA population of 455,631, Huntsville is the third largest city in
Alabama. Nicknamed the Rocket City, Huntsville was an integral part of
the space program, and this identity allowed Huntsville to position itself
as one of the major high tech cities in the southeast. Recently listed as
number 22 on the New York Times top 52 places to visit in the world in
2019, and number 7 on US News and World Report 25 best places to
live in 2018, Huntsville’s explosive economic growth and vibrant culture
cement Huntsville as a desirable place to live, work, and play.
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
Demographics3 Mile Radius
Latitude: 34.76811Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County
RYLAND RIDGE DEMOGRAPHICS - 3 MILE RADIUSDemographics
3 Mile RadiusLatitude: 34.76811
Longitude: -86.48375
113 Ryland Ridge Cir, Huntsville, Alabama, 35811 (3 miles)113 Ryland Ridge Cir, Huntsville, Alabama, 35811Ring of 3 miles
KEY FACTS
11,154Population
41.3
Median Age
2.5
AverageHousehold Size
$78,194Median Household
Income
EDUCATION
7%
No HighSchool
Diploma 18%High School
Graduate
36%Some College 40%
Bachelor's/Grad/ProfDegree
BUSINESS
245Total Businesses
4,161Total Employees
EMPLOYMENT
72%White Collar
16%Blue Collar
12%Services
4.3%
UnemploymentRate
INCOME
$78,194
Median HouseholdIncome
$36,439
Per Capita Income
$257,506
Median Net Worth
Households By IncomeThe largest group: $100,000 - $149,999 (21.9%)
The smallest group: <$15,000 (5.1%)Indicator Value Difference
<$15,000
$15,000 - $24,999
$25,000 - $34,999
$35,000 - $49,999
$50,000 - $74,999
$75,000 - $99,999
$100,000 - $149,999
$150,000 - $199,999
$200,000+
5.1%
5.1%
7.1%
12.2%
17.4%
17.9%
21.9%
6.7%
6.6%
-5.6%
-3.6%
-1.8%
+0.6%
+1.1%
+5.3%
+4.7%
-0.8%
+0.1%
Bars show deviation from
Madison County