121 Emma Grace Ln · New Market, AL 35761

$288,900

4 bd · 1.5 ba · 2,586 sqft · SingleFamily public records · 37 Days on market

Built 2022 $112/sqft · 9% below area Est $317k · 9% under $23/mo HOA · 1% 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).

• Cash flow +11.4/30.0
• ARV discount +11.4/15.0
• Schools +3.7/10.0
• DSCR +3.3/10.0
• Livability +3.0/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under Construction- Ready August 2022! Our top-selling plan, the Buffington delights with its massive second-floor owner's suite privately tucked away on the same level as its three additional bedrooms. Unexpected luxuries on the first floor include a planning desk, mud room, and kitchen island open to the family room. Flex space on this floor offers the choice of living, dining, study or bedroom. Photos are representations of similar models. Colors and finishes will vary.

Key facts

• Large countertops
• Walk-in closet
• Flex room

Tags

• FLEX ROOM
• GLASS PANEL FRENCH DOORS
• LARGE COUNTERTOPS
• OVERSIZED PRIMARY SUITE
• WALK-IN CLOSET
• CONVENIENTLY LOCATED

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $275

Exterior

• Parking: Attached two-car garage; Garage faces front; Concrete driveway
• Utilities: Public water; Public sewer; Electric power
• Home design: Single-family residence; Residential property; Built in 2022; Two-story home; Slab foundation
• Construction: Vinyl siding
• Exterior features: Public water; Public sewer; Subdivision: Cotton Row Estates

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Electric heating; Electric cooling
• Interior features: Two levels

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $271k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (22.6% below list).
• Recommended offer: $224k (22.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $9k 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 37 days — a 3% lower offer ($280k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $223,501 (22.6% 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 37 days. Have you received any prior offers? Is the seller open to a 23% 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 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: 0.77% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 10.8

CMA / ARV

• ARV (median comp): $316,502
• List price: $288,900
• Delta: -8.72%
• 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
102 Emma Grace Ln	0.16mi	4/2.5	2,643 (+2%)	7mo	$319,000	$121	79
177 Story Ray Dr	0.22mi	4/2.5	2,565 (-1%)	8mo	$307,415	$120	78
168 Story Ray Dr	0.17mi	4/2.5	2,565 (-1%)	12mo	$311,195	$121	76
176 Story Ray Dr	0.21mi	4/2.5	2,565 (-1%)	11mo	$308,385	$120	76
213 Bent Creek Ln	0.14mi	4/3.0	2,565 (-1%)	13mo	$300,740	$117	75
215 Bent Creek Ln	0.14mi	5/3.0 (+1)	2,565 (-1%)	12mo	$310,285	$121	71
175 Story Ray Dr	0.21mi	5/3.0 (+1)	2,565 (-1%)	10mo	$304,875	$119	70
203 Bent Creek Ln	0.13mi	5/3.0 (+1)	2,565 (-1%)	15mo	$316,424	$123	69
179 Story Ray Dr	0.23mi	4/2.5	2,231 (-14%)	5mo	$283,990	$127	58
170 Story Ray Dr	0.18mi	4/2.5	2,231 (-14%)	12mo	$293,240	$131	55
206 Bent Creek Ln	0.09mi	3/2.5 (-1)	2,231 (-14%)	15mo	$288,380	$129	51
209 Bent Creek Ln	0.15mi	3/2.5 (-1)	2,231 (-14%)	14mo	$282,400	$127	49

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: -18.8%
• Equity multiple: 0.34×
• Total profit: $-53,215
• Equity at exit: $43,076

10-year hold

• IRR: -11.3%
• Equity multiple: 0.32×
• Total profit: $-54,711
• Equity at exit: $24,979

Cash invested: $80,892 (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: 10.8×

Monthly cashflow live

• Estimated rent: $2,235 medium
• Mortgage (P&I): −$1,515
• Tax from tax record: −$207 /mo · $2,484/yr
• Insurance: −$120
• HOA: −$23
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $-100

Break-even live

Break-even rent $2,361

Max offer price $271,276

Occupancy floor 99%

Sensitivity live

Price	-10% $64	-5% $-18	+0% $-100	+5% $-182	+10% $-263
Rent	-10% $-276	-5% $-188	+0% $-100	+5% $-11	+10% $77
Rate	-1.0pp $46	-0.5pp $-26	base $-100	+0.5pp $-175	+1.0pp $-251

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: $72,225
• Closing costs: $8,667
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Saddle St New Market, AL	3.0	2.5	3000	$2,100	$0.70	15d	1	0.80mi
127 Saddle St New Market, AL	4.0	2.0	2067	$1,875	$0.91	15d	1	0.82mi
212 Paladin St New Market, AL	4.0	3.5	3078	$2,300	$0.75	15d	1	1.01mi
170 Saddle St New Market, AL	4.0	3.0	2583	$2,100	$0.81	15d	1	1.05mi

HOA detail

• Monthly dues: $23 · $276/yr

Listing history 21 events

1. 2026-06-22
   days on market $288,900 Active 37 DOM
2. 2026-06-18
   days on market $288,900 Active 34 DOM
3. 2026-06-17
   days on market $288,900 Active 33 DOM
4. 2026-06-16
   days on market $288,900 Active 32 DOM
5. 2026-06-15
   days on market $288,900 Active 31 DOM
6. 2026-06-14
   days on market $288,900 Active 29 DOM
7. 2026-06-10
   days on market $288,900 Active 26 DOM
8. 2026-06-09
   days on market $288,900 Active 25 DOM
9. 2026-06-08
   days on market $288,900 Active 24 DOM
10. 2026-06-07
    days on market $288,900 Active 23 DOM
11. 2026-06-03
    price $288,900 Active 18 DOM
12. 2026-06-02
    days on market $293,900 Active 18 DOM
13. 2026-06-01
    days on market $293,900 Active 17 DOM
14. 2026-05-31
    days on market $293,900 Active 16 DOM
15. 2026-05-30
    days on market $293,900 Active 15 DOM
16. 2026-05-15
    price $293,900 622-char remark
17. 2026-05-15
    listed $314,900 Active 622-char remark
18. 2024-05-01
    price $299,500
19. 2022-12-29
    soldstatus $276,635 Sold

    Show marketing remark (477 chars)

    Under Construction- Ready August 2022! Our top-selling plan, the Buffington delights with its massive second-floor owner's suite privately tucked away on the same level as its three additional bedrooms. Unexpected luxuries on the first floor include a planning desk, mud room, and kitchen island open to the family room. Flex space on this floor offers the choice of living, dining, study or bedroom. Photos are representations of similar models. Colors and finishes will vary.

20. 2022-02-14
    historical

    Show marketing remark (477 chars)

    Under Construction- Ready August 2022! Our top-selling plan, the Buffington delights with its massive second-floor owner's suite privately tucked away on the same level as its three additional bedrooms. Unexpected luxuries on the first floor include a planning desk, mud room, and kitchen island open to the family room. Flex space on this floor offers the choice of living, dining, study or bedroom. Photos are representations of similar models. Colors and finishes will vary.

21. 2022-02-14
    listed $288,135

    Show marketing remark (477 chars)

    Under Construction- Ready August 2022! Our top-selling plan, the Buffington delights with its massive second-floor owner's suite privately tucked away on the same level as its three additional bedrooms. Unexpected luxuries on the first floor include a planning desk, mud room, and kitchen island open to the family room. Flex space on this floor offers the choice of living, dining, study or bedroom. Photos are representations of similar models. Colors and finishes will vary.

ⓘ 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: $2,484 · $207/mo
• Projected year-2 tax: $2,484 · $207/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: $26,820
• − Mortgage interest: −$16,183
• − Property taxes: −$2,484
• − Insurance: −$1,444
• − Repairs & maintenance: −$2,146
• − Management: −$2,146
• − HOA: −$276
• − Depreciation: −$8,404
• Taxable loss: −$6,263
• Est. tax savings @ 24.0%: +$1,503
• After-tax cash flow: $306/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

+0.3% since first listed

7 events — show timeline

• 2026-06-02 Price Changed $288,900 VMLS
• 2026-05-15 Price Changed $293,900 VMLS
• 2026-05-15 Listed $314,900 VMLS
• 2024-05-01 Price Changed $299,500 Greater Alabama MLS
• 2022-12-29 Sold (MLS) $276,635 VMLS
• 2022-02-14 Delisted — VMLS
• 2022-02-14 Listed $288,135 VMLS

Property tax history

-11.8%/yr

Latest (2024): $2,484 · -11.8% YoY. Source: county tax records.