2904 Hart Dr NW · Huntsville, AL 35816

$145,500

3 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 2 Days on market

Built 1960 6,098 sqft lot Est $177k · 18% under

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Why this score? — see what drove the C 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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.2/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Move-in ready and packed with updates, this well-maintained home offers the perfect combination of comfort, convenience, and value. Featuring a functional floor plan with spacious living areas, this property is ideal for both owner-occupants and investors alike. The kitchen provides ample cabinet space and flows seamlessly into the main living area, creating a welcoming atmosphere for everyday living and entertaining.

Key facts

• 6,098 sq ft lot
• Parking
• Built 1960

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Terry Heights

Exterior

• Parking: Carport with space for 1 vehicle
• Utilities: Public sewer; Public water
• Home design: Single-family residence; One level; Built in 1960; Vinyl siding
• Construction: 1960 construction; Vinyl siding exterior
• Exterior features: Public water; Lot measures approximately 50 x 130 (0.14 acres)

Interior

• Bedrooms: Bedrooms not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: 5 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $129 ($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 $133k (8.5% below list).
• Recommended offer: $133k (8.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: Sonnie Hereford Elementary School (math 4% / reading 20%, grade F, #554 of 627 statewide, top 88%, 611 students, 92% FRL); Huntsville Junior High School (math 20% / reading 45%, grade F, #105 of 257 statewide, top 42%, 418 students, 38% FRL); Huntsville High School (math 41% / reading 51%, grade D-, #18 of 305 statewide, top 6%, 1,826 students, 28% FRL).
• Market conditions: Rents rising (+2.7%/yr); 66 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 40% of the median local income ($40k/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 $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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago 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.
• Current owner paid $90k; list at $146k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,162 (8.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.35%
• Cash-on-cash: 3.79%
• DSCR: 1.17
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $176,610
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Meadow Dr	0.18mi	3/1.0	1,274 (+5%)	11mo	$140,000	$110	75
2904 Wilson Dr NW	0.12mi	3/2.0	1,334 (+10%)	4mo	$202,000	$151	71
2715 Wilson Dr	0.27mi	3/2.0	1,326 (+9%)	1mo	$192,000	$145	68
707 Hal St NW	0.44mi	3/2.0	1,212 (-0%)	9mo	$181,000	$149	67
2696 Wilson Dr NW	0.23mi	3/2.0	1,278 (+5%)	14mo	$200,000	$156	65
911 Parklane St NW	0.22mi	3/2.0	1,293 (+6%)	14mo	$69,200	$54	64
1604 Armstrong St NW	0.60mi	3/1.0	1,131 (-7%)	1mo	$120,000	$106	59
702 9th St	0.36mi	3/1.0	1,054 (-14%)	8mo	$175,000	$166	54
3006 Love Ave NW	0.62mi	3/1.5	1,300 (+7%)	10mo	$120,000	$92	50
804 Appleby St NW	0.39mi	2/1.0 (-1)	1,040 (-15%)	5mo	$70,000	$67	49
1019 Crestline Rd NW	0.40mi	3/1.0	1,055 (-13%)	15mo	$140,000	$133	47
1613 Armstrong St NW	0.66mi	3/2.0	1,100 (-10%)	15mo	$191,000	$174	37

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 · 2.66% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-15,866
• Equity at exit: $21,695

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-5,237
• Equity at exit: $12,580

Cash invested: $40,740 (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 35816

• Home prices YoY: -9.0%
• Rents YoY: 2.7%
• Active inventory: 66
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$763
• Tax from tax record: −$100 /mo · $1,196/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $129

Break-even live

Break-even rent $1,169

Max offer price $145,500

Occupancy floor 85%

Sensitivity live

Price	-10% $211	-5% $170	+0% $129	+5% $87	+10% $46
Rent	-10% $23	-5% $76	+0% $129	+5% $181	+10% $234
Rate	-1.0pp $202	-0.5pp $166	base $129	+0.5pp $91	+1.0pp $53

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: $36,375
• Closing costs: $4,365
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
905 Fairway Dr NW Huntsville, AL	2.0	1.0	1000	$995	$0.99	45d	1	0.28mi
2700 Union Dr NW Huntsville, AL	3.0	2.0	1340	$1,450	$1.08	23d	1	0.29mi
3016 Holmes Ave NW Huntsville, AL	3.0	1.0	1092	$1,275	$1.17	25d	1	0.30mi
3206 Brook Manor Ave NW Huntsville, AL	2.0	1.0	1156	$1,100	$0.95	15d	1	0.30mi
804 Appleby St NW Huntsville, AL	2.0	2.0	1170	$1,295	$1.11	15d	1	0.40mi
3205 Hillandale Rd NW Huntsville, AL	2.0	1.0	1100	$1,200	$1.09	45d	1	0.42mi
612 Marguerite Dr NW Huntsville, AL	3.0	1.0	1040	$1,400	$1.35	45d	1	0.44mi
609 10th St NW Huntsville, AL	4.0	2.0	1140	$1,650	$1.45	25d	1	0.47mi
1601 Armstrong St NW Huntsville, AL	3.0	1.0	1200	$1,195	$1.00	45d	1	0.57mi
1300 Julia St NW Unit N/A Huntsville, AL	2.0	1.0	1100	$1,195	$1.09	15d	1	0.63mi
1208 Julia St NW Huntsville, AL	2.0	1.0	800	$745	$0.93	25d	1	0.64mi
3615 N Crestview Dr NW Unit 2 Huntsville, AL	2.0	1.5	920	$795	$0.86	25d	1	0.65mi
3621 N Crestview Dr NW Unit 2 Huntsville, AL	2.0	1.5	900	$895	$0.99	45d	1	0.70mi
2900 4th Ave NW Huntsville, AL	2.0	1.0–2.0	765	$1,804	$2.36	15d	81	0.76mi
1715 Chester St NW Huntsville, AL	3.0	1.0	950	$1,250	$1.32	45d	1	0.80mi
1713 Niblick Ave NW Huntsville, AL	3.0	1.0	1000	$1,195	$1.20	25d	1	0.80mi
3700 Governors Dr SW Huntsville, AL	3.0	1.0–2.0	1547	$2,588	$1.67	15d	58	0.91mi
417 Holmes Ave NW Unit B Huntsville, AL	2.0	1.0	850	$1,150	$1.35	25d	1	0.94mi
600 Clinton Ave W Huntsville, AL	3.0	1.0–2.0	1034	$3,645	$3.52	25d	168	1.02mi
3605 6th Ave SW Huntsville, AL	2.0	1.5	1338	$2,000	$1.49	45d	1	1.02mi
1904 Oglesby Dr NW Huntsville, AL	3.0	2.0	1026	$1,395	$1.36	15d	1	1.03mi
3606 Crestmore Ave NW Huntsville, AL	4.0	2.0	1275	$1,400	$1.10	23d	1	1.04mi
740 Constellation Place Dr SW Huntsville, AL	3.0	1.0–2.0	1045	$2,199	$2.10	15d	25	1.06mi
3801 6th Ave SW Huntsville, AL	2.0	2.0	953	$1,325	$1.39	25d	2	1.09mi
2708 7th Ave SW Unit D Huntsville, AL	2.0	1.0	1000	$950	$0.95	45d	1	1.12mi
3912 Pine Ave SW Huntsville, AL	3.0	1.0	1350	$1,450	$1.07	25d	1	1.12mi
909 Woodall Ln NW Huntsville, AL	3.0	2.0	1368	$1,695	$1.24	45d	1	1.17mi
2706 Norton Ave NW Huntsville, AL	3.0	2.0	1127	$1,098	$0.97	45d	1	1.22mi
201 Jefferson St NW Huntsville, AL	1.0–3.0	1.0–2.5	1287	$3,419	$2.66	15d	13	1.22mi
2714 9th Ave SW Huntsville, AL	3.0	2.0	1300	$1,500	$1.15	45d	1	1.26mi
2700 9th Ave SW Huntsville, AL	3.0	2.0	1469	$1,495	$1.02	45d	1	1.28mi
407 Warner St NW Huntsville, AL	3.0	1.0	1015	$1,295	$1.28	25d	1	1.31mi
3406 Oakmont Ave NW Huntsville, AL	3.0	2.0	1389	$1,600	$1.15	45d	1	1.32mi
2002 Laverne Dr NW Huntsville, AL	3.0	1.5	1165	$1,100	$0.94	25d	1	1.32mi
4206 Holmes Ave NW Huntsville, AL	3.0	1.5	1266	$1,800	$1.42	45d	1	1.33mi
805 Monroe St SW Huntsville, AL	2.0	1.0–2.0	928	$2,865	$3.09	15d	183	1.34mi
2500 9th Ave SW Huntsville, AL	2.0	1.0–2.0	841	$1,623	$1.93	15d	12	1.35mi
401 Williams Ave SW Huntsville, AL	2.0	1.0–2.0	911	$2,278	$2.50	23d	36	1.36mi
110 Washington St NE Huntsville, AL	1.0–2.0	1.0–2.0	955	$2,293	$2.40	15d	4	1.38mi
4013 9th Ave SW Huntsville, AL	2.0	1.0	1060	$1,098	$1.04	45d	1	1.38mi

Listing history 2 events

1. 2026-06-22
   remarks 421-char remark
2. 2026-06-22
   listed $145,500 Active 2 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: $1,196 · $100/mo
• Projected year-2 tax: $1,196 · $100/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 · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,979
• − Mortgage interest: −$8,150
• − Property taxes: −$1,196
• − Insurance: −$728
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$4,233
• Taxable loss: −$884
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $1,756/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): 15,939
• Household income: $40,242
• Rent vs Own: 75.9% rent · 24.1% own
• Severe rent burden: 1145.0

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: Majority Black (63%)
• Race & ethnicity: Black 63% White 22% Hispanic / Latino 9% Two or more races 5% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 1% Italian 1% Swedish 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 5% 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: ▼ -24.06%
• Current HPI: 243.5404
• Rent YoY: ▲ 2.66%
• 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

+61.8% since first listed

4 events — show timeline

• 2026-06-19 Listed $145,500 VMLS
• 2023-08-05 Rental Removed $1,075 APPFOLIO
• 2023-07-20 Listed for Rent $1,075 APPFOLIO
• 2021-04-22 Sold (Public Records) $89,900 Public Records

Property tax history

+10.4%/yr

Latest (2024): $1,196 · +8.6% YoY. Source: county tax records.