125 Story Ray Dr · New Market, AL 35761

$275,000

4 bd · 1.0 ba · 1,886 sqft · SingleFamily public records · 168 Days on market

Built 2022 8,276 sqft lot $146/sqft · at area comps Est $278k · at est. $21/mo HOA · 1% of rent ↓ 10% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.3/30.0
• ARV discount +8.0/15.0
• DSCR +4.3/10.0
• Schools +3.7/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is thoughtfully designed with 9-foot ceilings, recessed lighting and an open-concept layout ideal for everyday living and entertaining. The kitchen features a large island and granite countertops and flows seamlessly into the main living areas. Enjoy scenic mountain views and the convenience of being located in the highly desirable Buckhorn High School district. A perfect blend of comfort, style, and location. Security system/cameras and tv mounts do not convey

Key facts

• Large island
• Recessed lighting
• Granite countertops

Tags

• 9-FOOT CEILINGS
• RECESSED LIGHTING
• OPEN-CONCEPT LAYOUT
• LARGE ISLAND
• GRANITE COUNTERTOPS
• SCENIC MOUNTAIN VIEWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $49 ($584/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (17.4% below list).
• Recommended offer: $227k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.2% in New Market — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#304 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B; Watch: amenities F, commute F, employment F.
• Madison County (rural): math 27% / reading 56% proficiency, ranked #19 of 129 in AL (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Market School (math 27% / reading 37%, grade F, #331 of 627 statewide, top 57%, 394 students, 40% FRL); Buckhorn Middle School (math 19% / reading 59%, grade F, #64 of 257 statewide, top 25%, 688 students, 38% FRL); Buckhorn High School (math 31% / reading 33%, grade F, #59 of 305 statewide, top 21%, 1,287 students, 34% FRL).
• Market conditions: 393 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 34% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $227,171 (17.4% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.76%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (median comp): $277,884
• List price: $275,000
• Delta: -1.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Story Ray Dr	0.09mi	4/2.0	1,803 (-4%)	7mo	$284,995	$158	79
114 Emma Grace Ln	0.09mi	3/2.0 (-1)	1,826 (-3%)	12mo	$275,000	$151	72
211 Bent Creek Ln	0.24mi	4/2.0	1,803 (-4%)	12mo	$270,600	$150	68
173 Story Ray Dr	0.29mi	4/2.0	1,803 (-4%)	9mo	$271,255	$150	67
153 Story Ray Dr	0.12mi	3/2.0 (-1)	1,725 (-8%)	7mo	$257,500	$149	66
157 Story Ray Dr	0.17mi	3/2.5 (-1)	1,813 (-4%)	12mo	$268,845	$148	65
180 Story Ray Dr	0.34mi	4/2.5	1,813 (-4%)	9mo	$260,625	$144	64
182 Story Ray Dr	0.35mi	4/2.5	1,813 (-4%)	9mo	$244,165	$135	64
183 Story Ray Dr	0.36mi	3/2.5 (-1)	1,813 (-4%)	7mo	$253,470	$140	60
181 Story Ray Dr	0.34mi	3/2.5 (-1)	1,813 (-4%)	8mo	$249,615	$138	60
1714 Oscar Patterson Rd	0.55mi	4/2.0	1,683 (-11%)	4mo	$278,000	$165	49
104 Saddle St	0.71mi	3/2.0 (-1)	2,015 (+7%)	10mo	$299,900	$149	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.1%
• Equity multiple: 0.46×
• Total profit: $-41,523
• Equity at exit: $41,003

10-year hold

• IRR: -6.6%
• Equity multiple: 0.58×
• Total profit: $-32,413
• Equity at exit: $23,777

Cash invested: $77,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35761

• Home prices YoY: -9.3%
• Active inventory: 393
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$168 /mo · $2,019/yr
• Insurance: −$115
• HOA: −$21
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $49

Break-even live

Break-even rent $2,210

Max offer price $275,000

Occupancy floor 93%

Sensitivity live

Price	-10% $204	-5% $127	+0% $49	+5% $-29	+10% $-107
Rent	-10% $-131	-5% $-41	+0% $49	+5% $138	+10% $228
Rate	-1.0pp $187	-0.5pp $119	base $49	+0.5pp $-23	+1.0pp $-95

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Saddle St New Market, AL	4.0	2.0	2067	$1,875	$0.91	15d	1	0.81mi
170 Saddle St New Market, AL	4.0	3.0	2583	$2,100	$0.81	15d	1	1.03mi

HOA detail

• Monthly dues: $21 · $252/yr
• Likely covers: security

Listing history 23 events

1. 2026-06-22
   days on market $275,000 Active 168 DOM
2. 2026-06-18
   days on market $275,000 Active 165 DOM
3. 2026-06-17
   days on market $275,000 Active 164 DOM
4. 2026-06-16
   days on market $275,000 Active 163 DOM
5. 2026-06-15
   days on market $275,000 Active 162 DOM
6. 2026-06-14
   days on market $275,000 Active 160 DOM
7. 2026-06-10
   days on market $275,000 Active 157 DOM
8. 2026-06-09
   days on market $275,000 Active 156 DOM
9. 2026-06-08
   days on market $275,000 Active 155 DOM
10. 2026-06-07
    days on market $275,000 Active 154 DOM
11. 2026-06-02
    days on market $275,000 Active 149 DOM
12. 2026-06-01
    days on market $275,000 Active 148 DOM
13. 2026-05-31
    days on market $275,000 Active 147 DOM
14. 2026-05-30
    days on market $275,000 Active 146 DOM
15. 2026-05-15
    price $275,000 475-char remark

    Show marketing remark (475 chars)

    This home is thoughtfully designed with 9-foot ceilings, recessed lighting and an open-concept layout ideal for everyday living and entertaining. The kitchen features a large island and granite countertops and flows seamlessly into the main living areas. Enjoy scenic mountain views and the convenience of being located in the highly desirable Buckhorn High School district. A perfect blend of comfort, style, and location. Security system/cameras and tv mounts do not convey

16. 2026-04-22
    status Active 475-char remark

    Show marketing remark (475 chars)

    This home is thoughtfully designed with 9-foot ceilings, recessed lighting and an open-concept layout ideal for everyday living and entertaining. The kitchen features a large island and granite countertops and flows seamlessly into the main living areas. Enjoy scenic mountain views and the convenience of being located in the highly desirable Buckhorn High School district. A perfect blend of comfort, style, and location. Security system/cameras and tv mounts do not convey

17. 2026-01-02
    listed $290,000 Active 475-char remark

    Show marketing remark (475 chars)

    This home is thoughtfully designed with 9-foot ceilings, recessed lighting and an open-concept layout ideal for everyday living and entertaining. The kitchen features a large island and granite countertops and flows seamlessly into the main living areas. Enjoy scenic mountain views and the convenience of being located in the highly desirable Buckhorn High School district. A perfect blend of comfort, style, and location. Security system/cameras and tv mounts do not convey

18. 2025-07-25
    price $295,000
19. 2025-07-24
    price $299,500
20. 2025-07-24
    price $295,000
21. 2025-06-18
    listed $299,500 Active
22. 2025-05-31
    price $299,500
23. 2025-03-28
    listed $305,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $2,019 · $168/mo
• Projected year-2 tax: $2,019 · $168/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $27,261
• − Mortgage interest: −$15,404
• − Property taxes: −$2,019
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − HOA: −$252
• − Depreciation: −$8,000
• Taxable loss: −$4,152
• Est. tax savings @ 24.0%: +$996
• After-tax cash flow: $1,580/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Madison County
• NCES district ID: 0102220
• Math proficiency: 27% ▼ -32.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $66,058
• Composite: 37.15/100
• National rank: #4483
• State rank: #19 of 129 in AL

Livability — New Market

• Score: 60/100
• State rank: #304
• US rank: #19258

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment F Housing B Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Market, AL
• County: Madison County · 380,832 people
• City population: 13,557
• Metro: Huntsville, AL
• Population (ZIP): 13,557
• Household income: $79,440
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 220.0

Population outlook (Madison County) Hauer SSP2

• Today (2025): 392,086 people
• By 2030: 409,788 · +4.5%
• By 2040: 440,557 · +12.4%
• By 2050: 460,990 · +17.6%
• By 2075: 502,872 · +28.3%
• By 2100: 513,623 · +31.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 15% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Italian 3% Serbian 2% Iranian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Madison

• 2024 margin: Lean R (+9.0) · D 44.7% · R 53.7% · Other 1.6%
• 2008→2024 swing: +6.0pp toward D · 2008: -14.9pp · 2024: -9.0pp
• All cycles: 2024: R+9.0 2020: R+8.0 2016: R+16.8 2012: R+18.7 2008: R+14.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.88%
• Current HPI: 261.8281
• Rent YoY: —
• Metro: Huntsville, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-9.8% since first listed

9 events — show timeline

• 2026-05-15 Price Changed $275,000 VMLS
• 2026-04-22 Relisted — VMLS
• 2026-01-02 Listed $290,000 VMLS
• 2025-07-25 Price Changed $295,000 VMLS
• 2025-07-24 Price Changed $299,500 VMLS
• 2025-07-24 Price Changed $295,000 VMLS
• 2025-06-18 Listed $299,500 VMLS
• 2025-05-31 Price Changed $299,500 VMLS
• 2025-03-28 Listed $305,000 VMLS

Property tax history

+115.7%/yr

Latest (2024): $2,019 · +115.7% YoY. Source: county tax records.