161 Challenger Way · Good Hope, AL 35055

$199,727

3 bd · 2.0 ba · 1,248 sqft · SingleFamily · 19 Days on market

Built 2026 Poor condition 4,356 sqft lot $160/sqft · 6% below area Est $212k · 6% under $29/mo HOA · 2% of rent ↓ 5% since listing

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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 +10.8/30.0
• ARV discount +10.2/15.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * New Construction-The charming Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

Key facts

• Open floor plan
• Covered front entry
• Spacious family room

Tags

• COVERED FRONT ENTRY
• FRONT YARD LANDSCAPING
• OPEN FLOOR PLAN
• SPACIOUS FAMILY ROOM
• BEAUTIFUL DINING AREA
• ENERGY-EFFICIENT APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (6.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (16.6% below list).
• Recommended offer: $167k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.1% in Good Hope — 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 63/100 on livability (#199 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Cullman County (rural): math 19% / reading 49% proficiency, ranked #49 of 129 in AL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 344 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,668 (16.6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 F-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: 0.83% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.99%
• DSCR: 0.91
• GRM: 10.0

CMA / ARV

• ARV (median comp): $212,478
• List price: $199,727
• Delta: -6.00%
• 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
161 Challenger Way	0.00mi	3/2.0	1,248 (0%)	1mo	$199,727	$160	99
30 Discovery Ln	0.02mi	3/2.0	1,248 (0%)	0mo	$200,000	$160	99
12 Discovery Ln	0.00mi	3/2.0	1,248 (0%)	2mo	$199,804	$160	99
173 Challenger Way	0.02mi	3/2.0	1,248 (0%)	1mo	$203,920	$163	98
167 Challenger Way	0.03mi	3/2.0	1,362 (+9%)	0mo	$206,341	$151	83
155 Challenger Way	0.02mi	3/2.0	1,362 (+9%)	1mo	$221,300	$162	83
266 N Mize Rd	0.29mi	3/2.0	1,290 (+3%)	6mo	$175,000	$136	76
32 Orion Dr	0.06mi	3/2.0	1,402 (+12%)	4mo	$208,000	$148	74
86 Challenger Way	0.05mi	3/2.0	1,402 (+12%)	4mo	$210,000	$150	73
2131 Addison Way	0.59mi	3/2.0	1,272 (+2%)	0mo	$234,900	$185	69
2127 Addison Way	0.59mi	3/2.0	1,272 (+2%)	3mo	$224,400	$176	66
2117 Addison Way SW	0.63mi	3/2.0	1,272 (+2%)	8mo	$239,900	$189	61

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: -19.6%
• Equity multiple: 0.32×
• Total profit: $-38,219
• Equity at exit: $29,780

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-40,699
• Equity at exit: $17,269

Cash invested: $55,924 (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 35055

• Home prices YoY: -14.4%
• Active inventory: 344
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$1,047
• Tax est. 1.5%: −$250 /mo · $2,996/yr
• Insurance: −$83
• HOA: −$29
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-93

Break-even live

Break-even rent $1,784

Max offer price $186,329

Occupancy floor —

Sensitivity live

Price	-10% $45	-5% $-24	+0% $-93	+5% $-162	+10% $-231
Rent	-10% $-224	-5% $-158	+0% $-93	+5% $-27	+10% $39
Rate	-1.0pp $8	-0.5pp $-42	base $-93	+0.5pp $-144	+1.0pp $-197

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: $49,932
• Closing costs: $5,992
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2126 Addison Way Cullman, AL	4.0	2.0	1497	$1,485	$0.99	44d	1	0.66mi
812 Mark St SW Cullman, AL	3.0	2.0	1300	$1,250	$0.96	44d	1	1.11mi

HOA detail

• Monthly dues: $29 · $348/yr
• Likely covers: landscaping

Listing history 8 events

1. 2026-05-03
   status Pending 454-char remark

   Show marketing remark (457 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * NEW Construction-The charming RC Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

2. 2026-05-03
   status Pending 457-char remark

   Show marketing remark (457 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * NEW Construction-The charming RC Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

3. 2026-05-02
   price $199,727 457-char remark

   Show marketing remark (454 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * New Construction-The charming Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

4. 2026-05-02
   price $199,727 454-char remark

   Show marketing remark (454 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * New Construction-The charming Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

5. 2026-04-24
   price $205,920 457-char remark

   Show marketing remark (454 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * New Construction-The charming Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

6. 2026-04-24
   price $205,920 454-char remark

   Show marketing remark (454 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * New Construction-The charming Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

7. 2026-04-14
   listed $211,000 Active 454-char remark

   Show marketing remark (457 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * NEW Construction-The charming RC Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

8. 2026-04-14
   listed $211,000 Active 457-char remark

   Show marketing remark (457 chars)

   * * 30-Year fixed interest rates as low as 4.99% now through 5/3! * * NEW Construction-The charming RC Cooper plan is rich with curb appeal with its welcoming covered front entry and front yard landscaping. This home features an open floor plan with 3 bedrooms, 2 bathrooms, a spacious family room, and a beautiful dining area/kitchen fully equipped with energy-efficient appliances, ample counter space, and a roomy pantry for the adventurous home chef.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,000
• − Mortgage interest: −$11,188
• − Property taxes: −$2,996
• − Insurance: −$999
• − Repairs & maintenance: −$1,600
• − Management: −$1,600
• − HOA: −$348
• − Depreciation: −$5,810
• Taxable loss: −$4,540
• Est. tax savings @ 24.0%: +$1,090
• After-tax cash flow: $-21/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

The property appears to be vacant and in a state of disrepair, with significant structural and exterior issues that require extensive renovation and landscaping to improve its value.

Repairs flagged

• Major roof — The satellite image indicates a lack of roof coverage.
• Major exterior — The satellite image shows a lot with no visible structures or landscaping.

Value-add opportunities

• Resale roof replacement — A new roof would significantly improve the home's appearance and functionality, attracting potential buyers.
• Both exterior landscaping — Landscaping would enhance curb appeal and potentially increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The satellite image indicates a lack of roof coverage.	Major	$15,000–50,000
exterior · The satellite image shows a lot with no visible structures or landscaping.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Resale roof replacement — A new roof would significantly improve the home's appearance and functionality, attracting potential buyers. ↑
• Both exterior landscaping — Landscaping would enhance curb appeal and potentially increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cullman County
• NCES district ID: 0101020
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $39,449
• Composite: 28.39/100
• National rank: #6767
• State rank: #49 of 129 in AL

Livability — Good Hope

• Score: 63/100
• State rank: #199
• US rank: #15846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Good Hope, AL
• County: Cullman County · 47,767 people
• Metro: Cullman, AL
• Population (ZIP): 23,115
• Household income: $58,405
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 499.0

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.60%
• Current HPI: 259.5471
• Rent YoY: —
• Metro: Cullman, 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

-5.3% since first listed

8 events — show timeline

• 2026-05-03 Pending — SAARMLS
• 2026-05-03 Pending — Greater Alabama MLS
• 2026-05-02 Price Changed $199,727 Greater Alabama MLS
• 2026-05-02 Price Changed $199,727 SAARMLS
• 2026-04-24 Price Changed $205,920 Greater Alabama MLS
• 2026-04-24 Price Changed $205,920 SAARMLS
• 2026-04-14 Listed $211,000 Greater Alabama MLS
• 2026-04-14 Listed $211,000 SAARMLS