2000 Reaches Pl Unit A · Huntsville, AL 35802

$135,000

2 bd · 1.5 ba · 1,088 sqft · Condo public records · 8 Days on market

Built 1984 $70/mo HOA · 5% 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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.6/10.0
• Livability +4.1/5.0
• Rent growth +3.5/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Easy living in this conveniently located end-unit condo with a LOW HOA of just $70/month! Minutes from Rosie's, Good Company Café, shopping, and more, with quick access to Memorial Parkway for an easy commute anywhere in town. Designed for comfortable living and easy entertaining, the main level features a living room, eat-in kitchen, and convenient half-bath. Upstairs, both bedrooms offer private en-suite bathrooms. Outside, enjoy beautiful flower beds and a cozy patio, perfect for morning coffee and evening relaxation. Perfect for first-time homebuyers, investors, or anyone seeking low-maintenance, convenience and affordability.

Key facts

• $70 HOA
• Built 1984
• Listed 7 days

Property features AI

Finance

• HOA & community: Homeowners association with a $70 monthly fee; Subdivision: Reaches West Condo

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Residential condominium; Two levels; Built in 1984
• Construction: Brick construction; Slab foundation
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: Two full bathrooms and one half bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Wood-burning fireplace (one)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $133 ($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 $129k (4.3% below list).
• Recommended offer: $129k (4.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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.
• Zoned schools: Roger B Chaffee Elementary School (math 37% / reading 52%, grade F, #171 of 627 statewide, top 31%, 399 students, 50% FRL); Whitesburg Middle School (math 12% / reading 40%, grade F, #155 of 257 statewide, top 61%, 539 students, 48% FRL); Virgil Grissom High School (math 34% / reading 40%, grade F, #39 of 305 statewide, top 13%, 1,974 students, 43% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: Rents rising fast (+4.1%/yr); 227 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $933 of loan paydown is wiped out by about $4k 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,225 (4.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 0.96% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.22%
• DSCR: 1.19
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-12,007
• Equity at exit: $20,129

10-year hold

• IRR: 2.2%
• Equity multiple: 1.17×
• Total profit: $6,355
• Equity at exit: $11,672

Cash invested: $37,800 (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 35802

• Home prices YoY: -30.7%
• Rents YoY: 4.1%
• Active inventory: 227
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$708
• Tax from tax record: −$54 /mo · $647/yr
• Insurance: −$56
• HOA: −$70
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $133

Break-even live

Break-even rent $1,124

Max offer price $135,000

Occupancy floor 85%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8003 Benaroya Ln SW Huntsville, AL	1.0–2.0	1.0–2.0	800	$1,148	$1.44	13d	28	0.05mi
2005 Reaches Pl SW Unit 2005 Huntsville, AL	2.0	3.0	1088	$1,850	$1.70	13d	1	0.06mi
2007 Reaches Pl SW Unit D Huntsville, AL	2.0	2.5	1088	$1,250	$1.15	23d	1	0.08mi
2048 Woodlawn Dr SW Unit 2048 Huntsville, AL	2.0	2.0	1136	$1,200	$1.06	43d	1	0.16mi
7602 Holland Dr SW Huntsville, AL	3.0	2.0	1295	$1,700	$1.31	43d	1	0.25mi
3016 Live Oak Ln SW Unit na Huntsville, AL	2.0	1.5	1030	$995	$0.97	43d	1	0.26mi
2136 Belle Grove Dr SW Unit 2136 Huntsville, AL	1.0	1.0	787	$1,000	$1.27	21d	1	0.26mi
4100 Memorial Pkwy SW Huntsville, AL	1.0–2.0	1.0–1.5	1050	$1,028	$0.98	23d	26	0.36mi
7705 Holland Dr SW Huntsville, AL	3.0	1.5	1500	$1,395	$0.93	23d	1	0.43mi
8050 Lenox Ln SW Huntsville, AL	2.0	1.0	878	$1,250	$1.42	13d	1	0.73mi
4026 Hunters Ridge Dr SW Unit 3 Huntsville, AL	2.0	1.0	750	$825	$1.10	43d	1	0.76mi
4117 Hunters Ridge Dr SW Unit 11 Huntsville, AL	2.0	1.0	750	$825	$1.10	13d	1	0.76mi
8142 Oldfield Rd SW Unit 3 Huntsville, AL	2.0	2.0	1000	$1,400	$1.40	43d	1	0.77mi
4029 Hunters Ridge Dr SW Unit 7 Huntsville, AL	2.0	1.0	750	$825	$1.10	43d	1	0.78mi
3929 Highridge Dr SW Unit A Huntsville, AL	2.0	1.0	833	$875	$1.05	43d	1	0.89mi
3929 Highridge Dr SW Unit D Huntsville, AL	2.0	1.0	781	$825	$1.06	43d	1	0.89mi
2225 Golf Rd SW Unit 101-1 Huntsville, AL	2.0	1.5	1080	$1,500	$1.39	43d	1	0.96mi
704 Graycroft Dr SW Huntsville, AL	3.0	1.0	1162	$1,500	$1.29	43d	1	0.99mi
2225 Golf Rd SW Huntsville, AL	1.0–2.0	1.0–2.0	744	$1,100	$1.48	23d	2	0.99mi
201 Queensbury Dr SW Huntsville, AL	1.0–3.0	1.0–2.5	1171	$1,199	$1.02	13d	15	1.45mi

HOA detail condo

• Monthly dues: $70 · $840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $135,000 Active 8 DOM
2. 2026-06-17
   days on market $135,000 Active 7 DOM
3. 2026-06-16
   days on market $135,000 Active 6 DOM
4. 2026-06-15
   days on market $135,000 Active 5 DOM
5. 2026-06-14
   remarks 638-char remark
6. 2026-06-14
   listed $135,000 Active 3 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: $647 · $54/mo
• Projected year-2 tax: $647 · $54/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 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $15,507
• − Mortgage interest: −$7,562
• − Property taxes: −$647
• − Insurance: −$675
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − HOA: −$840
• − Depreciation: −$3,927
• Taxable loss: −$625
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $1,744/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): 23,858
• Household income: $76,324
• Rent vs Own: 46.0% rent · 54.0% own
• Severe rent burden: 1122.0

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 (74%)
• Race & ethnicity: White 74% Black 14% Two or more races 5% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 4% Serbian 3% Lithuanian 3%
• Foreign-born: 4% · Canada, South Korea, China
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -169.74%
• Current HPI: 382.3827
• Rent YoY: ▲ 4.08%
• 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

• 2026-06-11 Listed $135,000 VMLS

Property tax history

+4.8%/yr

Latest (2024): $647 · +7.7% YoY. Source: county tax records.