150 Elledge Farm Dr · Hazel Green, AL 35750

$283,373

3 bd · 2.0 ba · 1,512 sqft · SingleFamily · 34 Days on market

0.30 ac lot $187/sqft · 8% below area Est $310k · 8% under $43/mo HOA · 2% of rent

---

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 +11.3/15.0
• Appreciation +10.0/10.0
• Cash flow +5.8/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +0.2/10.0

Listing remarks MLS

* 2/1 buydown with rate as low as 3.99% for the first 12 months. Contact Builder Sales Rep(s) for current incentive details. * The DORCHESTER IV G in Meadow Crest community offers a 3 bedroom, 2 full bathroom, open design. Upgrades for this home include undercabinet lighting, LED coach lights on each side of the garage, quartz countertops, hardware for cabinets, upgraded kitchen backsplash, luxury vinyl plank flooring, gutters, walk-in shower in master bathroom, and more! Special Features: double vanity, tub/shower combo, and walk-in closet in master bath, walk-in closet in bedroom 2, kitchen island, walk-in pantry, covered porches, undermount sinks, wood cabinets, LED lighting, ceiling fans in living and master, built-in shelving in pantry and closets, landscaping package, stone address blocks, and more! Energy Efficient Features: water heater, electric kitchen appliance package, vinyl low E-3 tilt-in windows, and more!

Key facts

• Double vanity
• Covered porches
• Walk in closet

Tags

• DOUBLE VANITY
• TUB SHOWER COMBO
• WALK IN CLOSET
• KITCHEN ISLAND
• WALK IN PANTRY
• COVERED PORCHES

Property features AI

Finance

• Other: Located in Meadow Crest subdivision
• HOA & community: HOA with common grounds; HOA fee $255 semi-annually

Exterior

• Parking: Attached two-car garage with garage door opener and front-facing garage
• Utilities: Public water; Septic tank sewer
• Home design: Single family residence; One story
• Construction: Brick construction; Slab foundation; New construction
• Exterior features: Concrete driveway; Sidewalk; Underground utilities; See remarks

Interior

• Kitchen: Range; Dishwasher; Microwave; Disposal
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: 8 total rooms; New construction
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $283k.

Deal economics

• At list price, monthly cash flow is $-572 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (36.2% below list).
• Recommended offer: $181k (36.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#54 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; 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: Lynn Fanning Elementary School (math 27% / reading 57%, grade F, #213 of 627 statewide, top 37%, 772 students, 39% FRL); Meridianville Middle School (math 19% / reading 62%, grade F, #56 of 257 statewide, top 22%, 724 students, 45% FRL); Hazel Green High School (math 23% / reading 31%, grade F, #90 of 305 statewide, top 35%, 1,348 students, 42% FRL).
• Market conditions: 256 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 32% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k 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 ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $180,928 (36.2% 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 34 days. Have you received any prior offers? Is the seller open to a 36% 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. 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 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: 0.64% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.65%
• DSCR: 0.62
• GRM: 13.1

CMA / ARV

• ARV (median comp): $309,640
• List price: $283,373
• Delta: -8.48%
• 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
120 Parvin Way Dr	0.29mi	3/2.0	1,564 (+3%)	3mo	$278,990	$178	78
126 Canopy Rd	0.24mi	3/2.0	1,610 (+6%)	2mo	$239,900	$149	77
118 Parvin Way Dr	0.28mi	3/2.0	1,424 (-6%)	5mo	$285,560	$201	73
123 Parvin Way Dr	0.34mi	3/2.0	1,424 (-6%)	4mo	$279,990	$197	71
112 Elledge Farm Dr	0.16mi	3/2.0	1,389 (-8%)	12mo	$255,000	$184	69
112 Brenna Ln	0.44mi	3/2.0	1,477 (-2%)	8mo	$262,000	$177	69
134 Parvin Way Dr	0.40mi	3/2.0	1,424 (-6%)	6mo	$279,990	$197	67
114 Parvin Way Dr	0.27mi	3/2.0	1,444 (-4%)	17mo	$229,900	$159	66
129 Parvin Way Dr	0.37mi	3/2.0	1,649 (+9%)	2mo	$293,990	$178	66
213 Rindon Ln	0.29mi	3/2.0	1,623 (+7%)	11mo	$245,000	$151	65
122 Parvin Way Dr	0.32mi	3/2.0	1,649 (+9%)	8mo	$294,510	$179	64
317 Walker Ln	0.45mi	3/2.0	1,368 (-10%)	8mo	$250,000	$183	56

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.49×
• Total profit: $117,955
• Equity at exit: $255,285

10-year hold

• IRR: 17.0%
• Equity multiple: 5.74×
• Total profit: $376,115
• Equity at exit: $550,531

Cash invested: $79,344 (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 35750

• Home prices YoY: 8.2%
• Active inventory: 256
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $1,809 high
• Mortgage (P&I): −$1,486
• Tax est. 1.5%: −$354 /mo · $4,251/yr
• Insurance: −$118
• HOA: −$43
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-572

Break-even live

Break-even rent $2,533

Max offer price $200,604

Occupancy floor —

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: $70,843
• Closing costs: $8,501
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Elledge Farm Dr Hazel Green, AL	4.0	2.5	1990	$1,648	$0.83	23d	1	0.13mi
120 Elledge Farm Dr Hazel Green, AL	4.0	2.0	1999	$1,999	$1.00	23d	1	0.14mi
214 Briarcrest Rd Hazel Green, AL	4.0	2.5	2091	$1,825	$0.87	43d	1	0.22mi
214 Briarcrest Rd Hazel Green, AL	4.0	2.5	2091	$1,825	$0.87	23d	1	0.22mi
280 Shangrila Way Meridianville, AL	4.0	2.0	2106	$1,899	$0.90	23d	1	1.35mi
319 Allene Way Meridianville, AL	4.0	2.0	2106	$2,150	$1.02	43d	1	1.38mi
243 Irish Hill Dr Meridianville, AL	4.0	2.0	2100	$2,000	$0.95	43d	1	1.41mi
304 Allene Way Meridianville, AL	3.0	2.0	1703	$1,800	$1.06	21d	1	1.44mi
243 Susan Lynn Dr Meridianville, AL	3.0	2.5	1772	$1,500	$0.85	43d	1	1.44mi
302 Allene Way Meridianville, AL	4.0	3.0	1938	$2,400	$1.24	43d	1	1.44mi
163 Susan Lynn Dr Meridianville, AL	3.0	2.5	1760	$1,695	$0.96	43d	1	1.47mi

HOA detail

• Monthly dues: $43 · $516/yr
• Likely covers: waterelectriclandscaping

Listing history 15 events

1. 2026-06-18
   days on market $283,373 Active 34 DOM
2. 2026-06-17
   days on market $283,373 Active 33 DOM
3. 2026-06-16
   days on market $283,373 Active 32 DOM
4. 2026-06-15
   days on market $283,373 Active 31 DOM
5. 2026-06-14
   days on market $283,373 Active 29 DOM
6. 2026-06-10
   days on market $283,373 Active 26 DOM
7. 2026-06-09
   days on market $283,373 Active 25 DOM
8. 2026-06-08
   days on market $283,373 Active 24 DOM
9. 2026-06-07
   days on market $283,373 Active 23 DOM
10. 2026-06-02
    days on market $283,373 Active 18 DOM
11. 2026-06-01
    days on market $283,373 Active 17 DOM
12. 2026-05-31
    days on market $283,373 Active 16 DOM
13. 2026-05-30
    days on market $283,373 Active 15 DOM
14. 2026-05-18
    listed $283,373 Active 936-char remark

    Show marketing remark (936 chars)

    * 2/1 buydown with rate as low as 3.99% for the first 12 months. Contact Builder Sales Rep(s) for current incentive details. * The DORCHESTER IV G in Meadow Crest community offers a 3 bedroom, 2 full bathroom, open design. Upgrades for this home include undercabinet lighting, LED coach lights on each side of the garage, quartz countertops, hardware for cabinets, upgraded kitchen backsplash, luxury vinyl plank flooring, gutters, walk-in shower in master bathroom, and more! Special Features: double vanity, tub/shower combo, and walk-in closet in master bath, walk-in closet in bedroom 2, kitchen island, walk-in pantry, covered porches, undermount sinks, wood cabinets, LED lighting, ceiling fans in living and master, built-in shelving in pantry and closets, landscaping package, stone address blocks, and more! Energy Efficient Features: water heater, electric kitchen appliance package, vinyl low E-3 tilt-in windows, and more!

15. 2026-05-15
    listed $283,373 Active 604-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,711
• − Mortgage interest: −$15,873
• − Property taxes: −$4,251
• − Insurance: −$1,417
• − Repairs & maintenance: −$1,737
• − Management: −$1,737
• − HOA: −$516
• − Depreciation: −$8,244
• Taxable loss: −$12,063
• Est. tax savings @ 24.0%: +$2,895
• After-tax cash flow: $-3,969/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 — Hazel Green

• Score: 69/100
• State rank: #54
• US rank: #8575

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Green, AL
• County: Madison County · 380,832 people
• City population: 13,413
• Metro: Huntsville, AL
• Population (ZIP): 13,413
• Household income: $68,389
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 162.0

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 (71%)
• Race & ethnicity: White 71% Black 19% Asian 5% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Chinese 1% Korean 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: ▲ 33.59%
• Current HPI: 444.7418
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-18 Listed $283,373 Zillow
• 2026-05-15 Listed $283,373 VMLS