110 Bourbon Aly · Madison, AL 35758

$450,000

3 bd · 1.5 ba · 1,786 sqft · Townhouse public records · 38 Days on market

Built 2021 $252/sqft · 9% below area Est $496k · 9% under $146/mo HOA · 7% of rent

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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).

• ARV discount +11.7/15.0
• Appreciation +10.0/10.0
• Schools +5.6/10.0
• Cash flow +3.8/30.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

Key facts

• Move-in ready
• Gourmet kitchen
• Great room

Tags

• MOVE-IN READY
• TOWN MADISON COMMUNITY
• FRONT PORCH VIEWS
• LARGE GREEN SPACE
• GOURMET KITCHEN
• GREAT ROOM

Property features AI

Finance

• HOA & community: HOA with clubhouse, common grounds, and pool; HOA fee $875 semi-annually; Subdivision: Town Madison

Exterior

• Parking: Detached 2-car garage
• Utilities: Public sewer
• Home design: Residential townhouse; Built in 2021; No new construction
• Construction: Slab foundation
• Exterior features: Public water

Interior

• Kitchen: Range; Dishwasher; Microwave
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $450k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $221k (50.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (53.4% below list).
• Recommended offer: $210k (53.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#12 in AL, #3,280 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F.
• Madison City (suburban): math 51% / reading 71% proficiency, ranked #4 of 129 in AL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Horizon Elementary School (math 53% / reading 78%, grade B+, #37 of 627 statewide, top 6%, 547 students, 34% FRL); Discovery Middle School (math 46% / reading 69%, grade B, #13 of 257 statewide, top 5%, 1,334 students, 25% FRL); Bob Jones High School (math 53% / reading 51%, grade D+, #11 of 305 statewide, top 4%, 1,920 students, 24% FRL).
• Market conditions: Rents rising (+1.6%/yr); 390 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $209,846 (53.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.47% ✗
• Cap rate: 2.84%
• Cash-on-cash: -12.33%
• DSCR: 0.45
• GRM: 17.9

CMA / ARV

• ARV (median comp): $496,436
• List price: $450,000
• Delta: -9.35%
• 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
626 Town Madison Blvd #11	0.18mi	3/2.5	1,829 (+2%)	0mo	$394,900	$216	83
628 Town Madison Blvd #9	0.20mi	3/2.5	1,829 (+2%)	0mo	$394,900	$216	82
634 Town Madison Blvd #6	0.21mi	3/2.5	1,829 (+2%)	0mo	$394,900	$216	82
691 Town Madison Blvd #9	0.14mi	3/2.5	1,807 (+1%)	8mo	$399,900	$221	81
130 Iberville St	0.05mi	3/2.5	1,595 (-11%)	7mo	$390,000	$245	70
699 Town Madison Blvd #5	0.51mi	3/2.5	1,807 (+1%)	5mo	$399,900	$221	66
100 Upperline St #31	0.24mi	3/2.0	1,535 (-14%)	0mo	$374,900	$244	63
102 Upperline St #32	0.25mi	3/2.0	1,535 (-14%)	0mo	$374,900	$244	63
104 Upperline St #33	0.25mi	3/2.0	1,535 (-14%)	0mo	$374,900	$244	62
106 Upperline St #34	0.26mi	3/2.0	1,535 (-14%)	0mo	$374,900	$244	62
197 Saint Louis St	0.16mi	3/2.5	2,047 (+15%)	5mo	$475,000	$232	60
120 Saint Louis St	0.14mi	2/3.0 (-1)	2,022 (+13%)	7mo	$460,000	$227	55

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

Projected returns pro-forma

10.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 2.27×
• Total profit: $159,574
• Equity at exit: $405,396

10-year hold

• IRR: 14.8%
• Equity multiple: 5.20×
• Total profit: $529,000
• Equity at exit: $874,251

Cash invested: $126,000 (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 35758

• Home prices YoY: 4.2%
• Rents YoY: 1.6%
• Active inventory: 390
• Price-to-rent: 17.9×

Monthly cashflow live

• Estimated rent: $2,098 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$260 /mo · $3,115/yr
• Insurance: −$188
• HOA: −$146
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-1,295

Break-even live

Break-even rent $3,738

Max offer price $221,213

Occupancy floor —

Sensitivity live

Price	-10% $-1,040	-5% $-1,168	+0% $-1,295	+5% $-1,422	+10% $-1,550
Rent	-10% $-1,461	-5% $-1,378	+0% $-1,295	+5% $-1,212	+10% $-1,129
Rate	-1.0pp $-1,068	-0.5pp $-1,181	base $-1,295	+0.5pp $-1,412	+1.0pp $-1,530

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
124 Iberville St Madison, AL	2.0	2.0	1346	$2,049	$1.52	45d	1	0.05mi
107 Poydras St Madison, AL	3.0	2.0	2457	$3,450	$1.40	23d	1	0.11mi
531 Town Madison Blvd Madison, AL	3.0	2.5	2332	$3,195	$1.37	45d	1	0.21mi
234 W Lake Cir Madison, AL	2.0	2.0	1976	$1,695	$0.86	45d	1	0.26mi
153 Canterbury Dr Madison, AL	3.0	2.0	1730	$1,950	$1.13	23d	1	0.28mi
248 W Lake Cir Madison, AL	2.0	2.0	1764	$1,625	$0.92	25d	1	0.30mi
118 Canterbury Dr Madison, AL	3.0	2.0	2031	$2,300	$1.13	45d	1	0.36mi
122 W Lake Cir Madison, AL	2.0	2.0	1881	$1,695	$0.90	45d	1	0.37mi
102 W Lake Cir Madison, AL	3.0	2.5	2150	$1,700	$0.79	15d	1	0.38mi
200 Town Madison Blvd Madison, AL	1.0–2.0	1.0–2.0	998	$1,558	$1.56	15d	22	0.49mi
240 Stadium Way Madison, AL	1.0–2.0	1.0–2.0	995	$1,690	$1.70	15d	29	0.54mi
1030 Grandeview Blvd Huntsville, AL	1.0–3.0	1.0–2.0	1076	$1,458	$1.36	15d	53	0.67mi
515 Dunlop Blvd Huntsville, AL	1.0–3.0	1.0–2.0	1110	$1,674	$1.51	15d	32	0.76mi
2300 Colonial Lake Dr Madison, AL	1.0–3.0	1.0–2.0	1083	$1,338	$1.23	15d	39	0.84mi
102 Spinnaker Ridge Dr SW Huntsville, AL	3.0	2.5	2150	$2,100	$0.98	45d	1	0.90mi
2002 Flagstone Dr Madison, AL	1.0–3.0	1.0–2.0	973	$1,544	$1.59	15d	77	0.95mi
350 Lime Quarry Rd Madison, AL	1.0–3.0	1.0–2.5	1137	$2,450	$2.15	45d	1	1.02mi
2500 Lakefront Dr Huntsville, AL	1.0–3.0	1.0–2.0	1075	$1,320	$1.23	45d	1	1.07mi
103 Rainwood Dr SW Huntsville, AL	4.0	2.5	2155	$2,400	$1.11	45d	1	1.21mi
119 Windsor Hill Rd SW Unit 119 Huntsville, AL	3.0	2.5	1768	$1,800	$1.02	25d	1	1.31mi
245 Pineridge Rd Madison, AL	3.0	2.0	1812	$2,000	$1.10	45d	1	1.37mi
325 Acorn Grove Ln SW Huntsville, AL	4.0	2.0	1950	$2,200	$1.13	15d	1	1.47mi

HOA detail

• Monthly dues: $146 · $1,752/yr

Listing history 21 events

1. 2026-06-22
   days on market $450,000 Active 38 DOM
2. 2026-06-18
   days on market $450,000 Active 35 DOM
3. 2026-06-17
   days on market $450,000 Active 34 DOM
4. 2026-06-16
   days on market $450,000 Active 33 DOM
5. 2026-06-15
   days on market $450,000 Active 32 DOM
6. 2026-06-14
   days on market $450,000 Active 30 DOM
7. 2026-06-10
   days on market $450,000 Active 27 DOM
8. 2026-06-09
   days on market $450,000 Active 26 DOM
9. 2026-06-08
   days on market $450,000 Active 25 DOM
10. 2026-06-07
    days on market $450,000 Active 24 DOM
11. 2026-06-03
    days on market $450,000 Active 20 DOM
12. 2026-06-02
    days on market $450,000 Active 19 DOM
13. 2026-06-01
    days on market $450,000 Active 18 DOM
14. 2026-05-31
    days on market $450,000 Active 17 DOM
15. 2026-05-30
    days on market $450,000 Active 16 DOM
16. 2026-05-14
    listed $450,000 Active 700-char remark
17. 2022-11-29
    soldstatus $443,675 Sold 547-char remark

    Show marketing remark (547 chars)

    Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

18. 2022-05-25
    historical 547-char remark

    Show marketing remark (547 chars)

    Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

19. 2021-05-26
    status Pending 547-char remark

    Show marketing remark (547 chars)

    Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

20. 2021-05-12
    historical Contingent 547-char remark

    Show marketing remark (547 chars)

    Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

21. 2021-05-06
    listed $429,900 Active 547-char remark

    Show marketing remark (547 chars)

    Under Construction-Regent Homes presents the Sugarland Townhome Residences- These luxurious homes feature the master bedroom on the main level, complete with a walk-in shower, soaking tub and a large walk-in-closet. The gourmet kitchen overlooks the great room and includes ample counter top space perfect for cooking and entertaining. Upstairs includes two more bedrooms and a generous loft space. Regent’s award winning townhouses truly live like a single family home, complete with two-car garages or carports, and a private courtyard.

ⓘ 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: $3,115 · $260/mo
• Projected year-2 tax: $3,115 · $260/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: $25,182
• − Mortgage interest: −$25,207
• − Property taxes: −$3,115
• − Insurance: −$2,250
• − Repairs & maintenance: −$2,015
• − Management: −$2,015
• − HOA: −$1,752
• − Depreciation: −$13,091
• Taxable loss: −$24,262
• Est. tax savings @ 24.0%: +$5,823
• After-tax cash flow: $-9,718/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 City
• NCES district ID: 0100008
• Math proficiency: 51% ▼ -25.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $89,091
• Composite: 55.56/100
• National rank: #1238
• State rank: #4 of 129 in AL

Livability — Madison

• Score: 76/100
• State rank: #12
• US rank: #3280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, AL
• County: Madison County · 380,832 people
• City population: 93,742
• Metro: Huntsville, AL
• Population (ZIP): 50,266
• Household income: $117,380
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 875.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Asian 7% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 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: ▲ 14.46%
• Current HPI: 355.2784
• Rent YoY: ▲ 1.58%
• 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

+4.7% since first listed

6 events — show timeline

• 2026-05-14 Listed $450,000 VMLS
• 2022-11-29 Sold (MLS) $443,675 VMLS
• 2022-05-25 Delisted — VMLS
• 2021-05-26 Pending — VMLS
• 2021-05-12 Contingent — VMLS
• 2021-05-06 Listed $429,900 VMLS

Property tax history

-19.1%/yr

Latest (2024): $3,115 · -19.1% YoY. Source: county tax records.