104 Humphrey Dr · New Market, AL 35761

$139,000

3 bd · 1.0 ba · 984 sqft · SingleFamily public records · 83 Days on market

Built 1969 0.91 ac lot $141/sqft · 10% below area Est $158k · 12% under

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Why this score? — see what drove the B- 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 +26.4/30.0
• ARV discount +12.9/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• Schools +3.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or investment property. This charming low maintenance 3-bedroom, 1-bath home is situated on a spacious corner lot with an attached single garage for added convenience. Enjoy outdoor living in the large, fenced backyard featuring a relaxing deck—perfect for entertaining, pets, or play. A separate storage building provides extra space for tools and hobbies. Comfortable layout, with hardwood floors in living-room and hall. Add your updates to make this home a jewel!.

Key facts

• Storage building
• Relaxing deck
• Fenced backyard

Tags

• CORNER LOT
• FENCED BACKYARD
• RELAXING DECK
• STORAGE BUILDING
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $131k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.1% 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: schools D+, amenities F, commute 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.
• Market conditions: 391 active listings in the ZIP; 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 $961 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($131k) 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.

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 $130,659 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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. 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. 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: 1.21% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.21%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $157,916
• List price: $139,000
• Delta: -11.98%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
278 Noles Dr	0.28mi	3/1.0	1,008 (+2%)	1mo	$189,900	$188	82
265 Flint River Dr	0.18mi	3/1.0	1,092 (+11%)	2mo	$65,000	$60	71
231 Arnold Rd	0.69mi	3/1.0	1,060 (+8%)	11mo	$156,000	$147	45

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $652
• Equity at exit: $20,725

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $30,480
• Equity at exit: $12,018

Cash invested: $38,920 (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: 391
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $363

Break-even live

Break-even rent $1,216

Max offer price $139,000

Occupancy floor 73%

Sensitivity live

Price	-10% $460	-5% $412	+0% $363	+5% $315	+10% $267
Rent	-10% $231	-5% $297	+0% $363	+5% $430	+10% $496
Rate	-1.0pp $433	-0.5pp $399	base $363	+0.5pp $327	+1.0pp $291

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-08
   days on market $139,000 Active 83 DOM
2. 2026-06-07
   statusdays on market $139,000 Active 82 DOM
3. 2026-05-04
   status Pending 493-char remark

   Show marketing remark (493 chars)

   Great starter home or investment property. This charming low maintenance 3-bedroom, 1-bath home is situated on a spacious corner lot with an attached single garage for added convenience. Enjoy outdoor living in the large, fenced backyard featuring a relaxing deck—perfect for entertaining, pets, or play. A separate storage building provides extra space for tools and hobbies. Comfortable layout, with hardwood floors in living-room and hall. Add your updates to make this home a jewel!.

4. 2026-03-18
   status Active 493-char remark

   Show marketing remark (493 chars)

   Great starter home or investment property. This charming low maintenance 3-bedroom, 1-bath home is situated on a spacious corner lot with an attached single garage for added convenience. Enjoy outdoor living in the large, fenced backyard featuring a relaxing deck—perfect for entertaining, pets, or play. A separate storage building provides extra space for tools and hobbies. Comfortable layout, with hardwood floors in living-room and hall. Add your updates to make this home a jewel!.

5. 2026-02-18
   historical Contingent 493-char remark

   Show marketing remark (493 chars)

   Great starter home or investment property. This charming low maintenance 3-bedroom, 1-bath home is situated on a spacious corner lot with an attached single garage for added convenience. Enjoy outdoor living in the large, fenced backyard featuring a relaxing deck—perfect for entertaining, pets, or play. A separate storage building provides extra space for tools and hobbies. Comfortable layout, with hardwood floors in living-room and hall. Add your updates to make this home a jewel!.

6. 2026-02-13
   listed $139,000 Active 493-char remark

   Show marketing remark (493 chars)

   Great starter home or investment property. This charming low maintenance 3-bedroom, 1-bath home is situated on a spacious corner lot with an attached single garage for added convenience. Enjoy outdoor living in the large, fenced backyard featuring a relaxing deck—perfect for entertaining, pets, or play. A separate storage building provides extra space for tools and hobbies. Comfortable layout, with hardwood floors in living-room and hall. Add your updates to make this home a jewel!.

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥103°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $20,113
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$4,044
• Taxable income: $2,285
• Est. tax owed @ 24.0%: −$548
• After-tax cash flow: $3,813/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

• 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

4 events — show timeline

• 2026-05-04 Pending — VMLS
• 2026-03-18 Relisted — VMLS
• 2026-02-18 Contingent — VMLS
• 2026-02-13 Listed $139,000 VMLS