613 Nance Ford Rd · Hartselle, AL 35640

$360,000

8 bd · None ba · 3,656 sqft · MultiFamily public records · 16 Days on market

Built 1986 0.40 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Key facts

• 0.4 acre lot
• Garage
• Built 1986

Property features AI

Finance

• Other: Directions available
• HOA & community: Subdivision: Sharpley

Exterior

• Parking: Basement garage; Parking lot; 8 parking spaces
• Utilities: Public sewer
• Home design: Residential income property; Apartment; Built in 1986
• Exterior features: No view; Public water

Interior

• Kitchen: Oven; Refrigerator; Dishwasher
• Interior features: Central heating; Central air conditioning
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 8-bed/?-bath multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Recommended offer: $355k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.1% in Hartselle — 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 72/100 on livability (#32 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Hartselle City (other): math 41% / reading 64% proficiency, ranked #10 of 129 in AL (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Hartselle Junior High School (math 33% / reading 63%, grade C-, #29 of 257 statewide, top 12%, 527 students, 38% FRL); Hartselle High School (math 44% / reading 48%, grade D-, #18 of 305 statewide, top 6%, 1,031 students, 34% FRL).
• Market conditions: 193 active listings in the ZIP; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $101k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $354,600 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.73%
• DSCR: 1.74
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $31,099
• Equity at exit: $53,677

10-year hold

• IRR: 17.1%
• Equity multiple: 2.41×
• Total profit: $141,992
• Equity at exit: $31,126

Cash invested: $100,800 (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 35640

• Home prices YoY: -13.6%
• Active inventory: 193
• Price-to-rent: 26.1×

Monthly cashflow live

• Estimated rent: $4,600 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$190 /mo · $2,286/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $1,406

Break-even live

Break-even rent $2,821

Max offer price $360,000

Occupancy floor 64%

Sensitivity live

Price	-10% $1,609	-5% $1,508	+0% $1,406	+5% $1,304	+10% $1,202
Rent	-10% $1,042	-5% $1,224	+0% $1,406	+5% $1,587	+10% $1,769
Rate	-1.0pp $1,587	-0.5pp $1,497	base $1,406	+0.5pp $1,312	+1.0pp $1,217

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$4,600
Total (4 units)			$4,600

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-21
   days on market $360,000 Active 16 DOM
2. 2026-06-19
   days on market $360,000 Active 14 DOM
3. 2026-06-18
   days on market $360,000 Active 13 DOM
4. 2026-06-17
   days on market $360,000 Active 12 DOM
5. 2026-06-16
   days on market $360,000 Active 11 DOM
6. 2026-06-15
   days on market $360,000 Active 10 DOM
7. 2026-06-14
   days on market $360,000 Active 8 DOM
8. 2026-06-12
   days on market $360,000 Active 7 DOM
9. 2026-06-09
   days on market $360,000 Active 4 DOM
10. 2026-06-08
    days on market $360,000 Active 3 DOM
11. 2026-06-07
    days on market $360,000 Active 2 DOM
12. 2026-06-07
    listed $360,000 Active 1 DOM

ⓘ 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: $2,286 · $190/mo
• Projected year-2 tax: $2,286 · $190/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,200
• − Mortgage interest: −$20,166
• − Property taxes: −$2,286
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,416
• − Management: −$4,416
• − Depreciation: −$10,473
• Taxable income: $11,644
• Est. tax owed @ 24.0%: −$2,794
• After-tax cash flow: $14,073/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: Hartselle City
• NCES district ID: 0101730
• Math proficiency: 41% ▼ -25.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $51,169
• Composite: 44.88/100
• National rank: #2717
• State rank: #10 of 129 in AL

Livability — Hartselle

• Score: 72/100
• State rank: #32
• US rank: #6515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartselle, AL
• City population: 26,976
• Population (ZIP): 26,976

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.12%
• Current HPI: 242.5778
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-05 Listed $360,000 VMLS

Property tax history

+6.0%/yr

Latest (2025): $2,286 · +0.0% YoY. Source: county tax records.