10012 Conrad Dr SE · Huntsville, AL 35803

$235,000

4 bd · 1.5 ba · 2,422 sqft · SingleFamily public records · 175 Days on market

Built 1967 0.32 ac lot $97/sqft · 25% below area Est $342k · 31% under

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Why this score? — see what drove the C- 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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Livability +4.1/5.0
• 1% rule +3.7/10.0
• Rent growth +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold As is- Great Investment opportunity! HVAC 2 years old!

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1967

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/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 $205k (12.9% below list).
• Recommended offer: $205k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.8% in Huntsville — 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 82/100 on livability (#3 in AL, #1,082 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Huntsville City (urban): math 21% / reading 46% proficiency, ranked #48 of 129 in AL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 280 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 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 $7k 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 175 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,663 (12.9% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.87% ✗
• Cap rate: 7.12%
• Cash-on-cash: 2.95%
• DSCR: 1.13
• GRM: 9.6

CMA / ARV

• ARV (median comp): $341,833
• List price: $235,000
• Delta: -31.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
601 SE Bain Dr	0.10mi	4/3.0	2,229 (-8%)	1mo	$237,300	$106	76
413 Cumberland Dr SE	0.24mi	5/3.0 (+1)	2,405 (-1%)	5mo	$360,000	$150	73
10110 Conrad Dr	0.17mi	4/2.5	2,148 (-11%)	1mo	$380,000	$177	68
418 Curtis Dr SE	0.22mi	4/3.0	2,700 (+12%)	2mo	$375,000	$139	62
9606 Dortmund Dr SE	0.46mi	4/2.5	2,230 (-8%)	4mo	$240,500	$108	58
11314 Woodcrest Dr	0.63mi	4/2.5	2,267 (-6%)	4mo	$282,000	$124	53
11026 Crestfield Dr	0.45mi	3/2.0 (-1)	2,168 (-10%)	6mo	$250,000	$115	50
8722 Edgehill Dr	0.64mi	3/2.5 (-1)	2,526 (+4%)	7mo	$280,000	$111	48
11309 Woodcrest Dr SE	0.59mi	4/2.5	2,108 (-13%)	1mo	$367,000	$174	46
9628 Waldrop Dr SE	0.69mi	4/2.5	2,231 (-8%)	6mo	$370,000	$166	46
9700 Welch Cir SE	0.75mi	3/2.5 (-1)	2,233 (-8%)	1mo	$345,000	$155	42
8603 Hickory Hill Ln	0.54mi	3/3.0 (-1)	2,138 (-12%)	4mo	$439,000	$205	41

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -10.9%
• Equity multiple: 0.60×
• Total profit: $-26,352
• Equity at exit: $35,039

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-3,752
• Equity at exit: $20,319

Cash invested: $65,800 (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 35803

• Home prices YoY: -22.9%
• Rents YoY: 3.7%
• Active inventory: 280
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,047 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$125 /mo · $1,496/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $162

Break-even live

Break-even rent $1,842

Max offer price $235,000

Occupancy floor 87%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10007 Camille Dr SE Huntsville, AL	3.0	2.5	1702	$1,781	$1.05	23d	1	0.42mi
11207 Crestfield Dr SE Huntsville, AL	5.0	2.5	2700	$1,898	$0.70	44d	1	0.53mi
9802 Dolphin Dr SE Huntsville, AL	4.0	2.0	2160	$2,175	$1.01	44d	1	0.62mi
8711 Edgehill Dr SE Huntsville, AL	3.0	2.5	2263	$2,250	$0.99	44d	1	0.72mi
11406 Crestfield Dr SE Huntsville, AL	3.0	1.5	1809	$1,750	$0.97	23d	1	0.77mi
8613 Camille Dr SE Huntsville, AL	3.0	2.0	1744	$2,100	$1.20	14d	1	0.77mi
107 Strong Ct SE Huntsville, AL	3.0	2.0	1995	$1,775	$0.89	14d	1	0.78mi
710 Mountain Gap Rd SE Huntsville, AL	4.0	2.0	1801	$1,750	$0.97	44d	1	1.14mi
12005 Greenleaf Dr SE Huntsville, AL	4.0	3.0	2150	$2,500	$1.16	44d	1	1.16mi
1925 Lynnbrook Dr SW Huntsville, AL	4.0	2.5	2003	$1,900	$0.95	44d	1	1.17mi
12027 Chicamauga Trl SE Huntsville, AL	4.0	2.0	1870	$1,700	$0.91	44d	1	1.18mi
8033 Navios Dr SE Huntsville, AL	5.0	3.5	3134	$2,400	$0.77	23d	1	1.22mi
2105 Manassas Dr SW Huntsville, AL	3.0	2.0	1920	$1,895	$0.99	44d	1	1.34mi
12107 Greenleaf Dr SE Huntsville, AL	3.0	2.0	1600	$1,500	$0.94	14d	1	1.40mi

Listing history 12 events

1. 2026-06-18
   days on market $235,000 Active 175 DOM
2. 2026-06-17
   days on market $235,000 Active 174 DOM
3. 2026-06-16
   days on market $235,000 Active 173 DOM
4. 2026-06-15
   days on market $235,000 Active 172 DOM
5. 2026-06-14
   days on market $235,000 Active 170 DOM
6. 2026-06-10
   days on market $235,000 Active 167 DOM
7. 2026-06-09
   days on market $235,000 Active 166 DOM
8. 2026-06-08
   days on market $235,000 Active 165 DOM
9. 2026-06-07
   days on market $235,000 Active 164 DOM
10. 2026-05-31
    days on market $235,000 Active 160 DOM
11. 2026-05-30
    days on market $235,000 Active 159 DOM
12. 2025-12-22
    listed $235,000 Active 59-char remark

    Show marketing remark (59 chars)

    Sold As is- Great Investment opportunity! HVAC 2 years old!

ⓘ 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: $1,496 · $125/mo
• Projected year-2 tax: $1,496 · $125/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,560
• − Mortgage interest: −$13,164
• − Property taxes: −$1,496
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,965
• − Management: −$1,965
• − Depreciation: −$6,836
• Taxable loss: −$2,041
• Est. tax savings @ 24.0%: +$490
• After-tax cash flow: $2,432/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: Huntsville City
• NCES district ID: 0101800
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $48,264
• Composite: 28.84/100
• National rank: #6647
• State rank: #48 of 129 in AL

Livability — Huntsville

• Score: 82/100
• State rank: #3
• US rank: #1082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntsville, AL
• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 29,197
• Household income: $100,846
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 411.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 3% Chinese 2% German/W. Germanic 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: ▼ -110.53%
• Current HPI: 372.1842
• Rent YoY: ▲ 3.72%
• 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

1 event — show timeline

• 2025-12-22 Listed $235,000 VMLS

Property tax history

+5.5%/yr

Latest (2024): $1,496 · +5.2% YoY. Source: county tax records.