2005 Morgan Ave SW, Decatur, AL, 35601
About This Home
Exceptional Investment Opportunity in Decatur! Rare chance to own a 3-bedroom, 2-bath home with a 2-car garage plus a fully occupied 5-unit apartment complex on the same property. Positioned back-to-back with separate street frontage, this unique setup offers flexibility for investors and owner-occupants alike. The approximately 1,600 sq. ft. home is well maintained and features updated flooring, a covered patio, private backyard, long driveway, hot tub, and a reliable long-term tenant. The 5-unit complex is fully leased with established tenants, providing immediate and stable cash flow. NO SELLER'S FINANCING AVAILABLE Live in the home while generating income from the apartments, or rent all six units for maximum returns. Conveniently located in Decatur, one of North Alabama's fastest-growing cities, with easy access to the thriving Huntsville corridor, major employers, shopping, and dining. A rare income-producing property with strong occupancy and long-term growth potential.
Getting Around
Somewhat Walkable
Very Limited Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1952
Materials
- Foundation: Slab
- Construction materials: Frame,Siding
Type & Style
- Home type: MultiFamily
- Property subType: Apartment
Interior
Appliances
- Appliances included: Dishwasher,Cooktop,Refigerator,Stove,Electric Water Heater
- Laundry features: Washer/Dryer Connection
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 3
- Full bathrooms: 3
Features
- Den,Eat-in Kitchen,Sep Dining,Sep Living,Eating Area-Kitchen
- Flooring: Tile,Vinyl,Carpet
Heating & Cooling
- Heating features: Central
- Cooling features: Central Air
Interior Area
- Total interior livable area: 2,450 sqft
Property
Details
- Parcel number: 0207361002033.000
- Special condition: As Is
Parking
- Parking features: Assigned
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Tornado
- Cold Wave
- Lightning
- Strong Wind
- Winter Weather
- Earthquake
- Heat Wave
- Inland Flooding
How This Home’s Risks Compare
FEMA Declared Disasters Across Alabama Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,665 | $43,980 |
| Home Insurance * | $796 | $9,552 |
| Property Taxes | $187 | $2,244 |
| Electricity | $274 | $3,289 |
| Total | $4,922 | $59,064 |
Income You'd Need if You Spent...
Alabama FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-30 | Listed for sale | $724,999 |
| 2026-03-31 | Listing removed | $700,000 |
| 2025-10-31 | Price change | $700,000 |
| 2025-04-16 | Price change | $730,000 |
| 2024-11-19 | Price change | $735,000 |
| 2024-07-17 | Listed for sale | $725,000 |
| 2024-02-26 | Listing removed | -- |
| 2024-02-06 | Listed for rent | $1,595 |
| 2019-09-24 | Sold | $249,900 |
| 2019-07-27 | Price change | $249,900 |
| 2017-04-13 | Price change | $250,000 |
| 2017-02-26 | Listed for sale | $210,000 |
| 2013-07-17 | Sold | $146,055 |
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