214 W Lake Cir · Madison, AL 35758

$404,000

4 bd · 2.5 ba · 2,750 sqft · Townhouse public records · 54 Days on market

Built 2007 3,920 sqft lot $147/sqft · 17% below area Est $488k · 17% under $46/mo HOA · 2% of rent

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.6/30.0
• Schools +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.3/10.0

Listing remarks MLS

Gorgeous townhome in Steeplechase West inside the beautiful Edgewater Community. Madison City Schools. Short walk to the pool, playground, and lake! Fantastic winter view of the lake from 3rd floor bonus room, which has a bedroom and bathroom attached. Laundry on main bedroom level which is a huge plus! Large living room with big windows let’s in a ton of natural light! Formal dining room and kitchen have open views to the living room. There is a gated courtyard to enjoy those glorious evenings outdoors! And the 2 car attached garage with above-head storage and insulated garage door wraps up this package with a nice big bow!

Key facts

• Private pool
• Clubhouse
• Gas fireplace

Tags

• GAS FIREPLACE
• GATED COURTYARD
• THICK INSULATED WALLS
• ABUNDANT NATURAL LIGHT
• PRIVATE POOL
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $550; Subdivision: Steeplechase West

Exterior

• Parking: Attached two-car garage; Alley access
• Utilities: Public sewer
• Home design: Residential townhouse; Garden patio home; Built in 2007; Approximately 2,748 living area
• Construction: Brick construction; Slab foundation
• Exterior features: Outdoor fireplace

Interior

• Kitchen: Oven; Dishwasher; Microwave; Refrigerator; Garbage disposal
• Bathrooms: Three full bathrooms; One three-quarter bathroom; One half bathroom
• Heating & cooling: Central heating (multiple zones); Central cooling (multiple zones); No secondary cooling listed
• Interior features: Gas log fireplace with outside access

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath townhouse listed at $404k.

Deal economics

• At list price, monthly cash flow is $-483 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $319k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (36.8% below list).
• Recommended offer: $255k (36.8% below list) — sets the bar for 1% rule.
• Cap rate 4.9% vs local median 2.6% in Madison — 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 76/100 on livability (#12 in AL, #3,280 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F.
• Madison City (suburban): math 51% / reading 71% proficiency, ranked #4 of 129 in AL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Horizon Elementary School (math 53% / reading 78%, grade B+, #37 of 627 statewide, top 6%, 547 students, 34% FRL); Discovery Middle School (math 46% / reading 69%, grade B, #13 of 257 statewide, top 5%, 1,334 students, 25% FRL); Bob Jones High School (math 53% / reading 51%, grade D+, #11 of 305 statewide, top 4%, 1,920 students, 24% FRL).
• Market conditions: Rents rising (+1.6%/yr); 382 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $43k of equity ($3k loan paydown + $40k 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 ~$69k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($392k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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 $350k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $255,212 (36.8% 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 54 days. Have you received any prior offers? Is the seller open to a 37% 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.63% ✗
• Cap rate: 4.86%
• Cash-on-cash: -5.12%
• DSCR: 0.77
• GRM: 13.2

CMA / ARV

• ARV (median comp): $487,745
• List price: $404,000
• Delta: -17.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 West Lake Cir	0.02mi	3/2.5 (-1)	2,604 (-5%)	10mo	$364,000	$140	77
218 West Lake Cir	0.02mi	3/3.0 (-1)	2,887 (+5%)	23mo	$400,000	$139	65
539 Town Madison Blvd	0.30mi	3/2.5 (-1)	2,363 (-14%)	7mo	$505,000	$214	52
123 Iberville St	0.26mi	3/2.5 (-1)	2,468 (-10%)	17mo	$549,900	$223	52
109 Bienville St	0.23mi	3/2.5 (-1)	2,518 (-8%)	24mo	$471,000	$187	51
116 Saint Louis St	0.31mi	3/3.0 (-1)	2,367 (-14%)	8mo	$510,000	$215	49

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.64×
• Total profit: $185,547
• Equity at exit: $363,955

10-year hold

• IRR: 18.3%
• Equity multiple: 5.98×
• Total profit: $563,419
• Equity at exit: $784,883

Cash invested: $113,120 (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 35758

• Home prices YoY: 4.2%
• Rents YoY: 1.6%
• Active inventory: 382
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,552 high
• Mortgage (P&I): −$2,119
• Tax from tax record: −$166 /mo · $1,991/yr
• Insurance: −$168
• HOA: −$46
• Vacancy / Maint / Mgmt: −$536
• Net cashflow: $-483

Break-even live

Break-even rent $3,163

Max offer price $318,724

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: $101,000
• Closing costs: $12,120
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 W Lake Cir Madison, AL	3.0	2.5	2150	$1,700	$0.79	13d	1	0.17mi
108 Napolean Ave Madison, AL	4.0	3.5	2761	$3,650	$1.32	23d	1	0.24mi
107 Poydras St Madison, AL	3.0	2.0	2457	$3,450	$1.40	21d	1	0.27mi
531 Town Madison Blvd Madison, AL	3.0	2.5	2332	$3,195	$1.37	43d	1	0.43mi
118 Canterbury Dr Madison, AL	3.0	2.0	2031	$2,300	$1.13	43d	1	0.44mi
102 Spinnaker Ridge Dr SW Huntsville, AL	3.0	2.5	2150	$2,100	$0.98	43d	1	0.87mi
103 Rainwood Dr SW Huntsville, AL	4.0	2.5	2155	$2,400	$1.11	43d	1	1.06mi
325 Acorn Grove Ln SW Huntsville, AL	4.0	2.0	1950	$2,200	$1.13	13d	1	1.46mi
126 Windridge Way SW Huntsville, AL	4.0	2.5	2845	$3,300	$1.16	43d	1	1.50mi

HOA detail

• Monthly dues: $46 · $552/yr
• Likely covers: waterpoolsecurity

Listing history 24 events

1. 2026-06-18
   days on market $404,000 Active 54 DOM
2. 2026-06-17
   days on market $404,000 Active 53 DOM
3. 2026-06-16
   days on market $404,000 Active 52 DOM
4. 2026-06-15
   days on market $404,000 Active 51 DOM
5. 2026-06-14
   days on market $404,000 Active 49 DOM
6. 2026-06-10
   days on market $404,000 Active 46 DOM
7. 2026-06-09
   days on market $404,000 Active 45 DOM
8. 2026-06-08
   days on market $404,000 Active 44 DOM
9. 2026-06-07
   days on market $404,000 Active 43 DOM
10. 2026-06-03
    days on market $404,000 Active 39 DOM
11. 2026-06-02
    days on market $404,000 Active 38 DOM
12. 2026-06-01
    days on market $404,000 Active 37 DOM
13. 2026-05-31
    days on market $404,000 Active 36 DOM
14. 2026-05-30
    days on market $404,000 Active 35 DOM
15. 2026-04-25
    listed $404,000 Active 588-char remark
16. 2021-09-29
    soldstatus $350,000
17. 2021-09-24
    soldstatus $350,000 Sold 638-char remark

    Show marketing remark (638 chars)

    Gorgeous townhome in Steeplechase West inside the beautiful Edgewater Community. Madison City Schools. Short walk to the pool, playground, and lake! Fantastic winter view of the lake from 3rd floor bonus room, which has a bedroom and bathroom attached. Laundry on main bedroom level which is a huge plus! Large living room with big windows let’s in a ton of natural light! Formal dining room and kitchen have open views to the living room. There is a gated courtyard to enjoy those glorious evenings outdoors! And the 2 car attached garage with above-head storage and insulated garage door wraps up this package with a nice big bow!

18. 2021-08-19
    historical Contingent 638-char remark

    Show marketing remark (638 chars)

    Gorgeous townhome in Steeplechase West inside the beautiful Edgewater Community. Madison City Schools. Short walk to the pool, playground, and lake! Fantastic winter view of the lake from 3rd floor bonus room, which has a bedroom and bathroom attached. Laundry on main bedroom level which is a huge plus! Large living room with big windows let’s in a ton of natural light! Formal dining room and kitchen have open views to the living room. There is a gated courtyard to enjoy those glorious evenings outdoors! And the 2 car attached garage with above-head storage and insulated garage door wraps up this package with a nice big bow!

19. 2021-08-05
    price $350,000 638-char remark

    Show marketing remark (638 chars)

    Gorgeous townhome in Steeplechase West inside the beautiful Edgewater Community. Madison City Schools. Short walk to the pool, playground, and lake! Fantastic winter view of the lake from 3rd floor bonus room, which has a bedroom and bathroom attached. Laundry on main bedroom level which is a huge plus! Large living room with big windows let’s in a ton of natural light! Formal dining room and kitchen have open views to the living room. There is a gated courtyard to enjoy those glorious evenings outdoors! And the 2 car attached garage with above-head storage and insulated garage door wraps up this package with a nice big bow!

20. 2021-05-29
    listed $375,000 Active 638-char remark

    Show marketing remark (638 chars)

    Gorgeous townhome in Steeplechase West inside the beautiful Edgewater Community. Madison City Schools. Short walk to the pool, playground, and lake! Fantastic winter view of the lake from 3rd floor bonus room, which has a bedroom and bathroom attached. Laundry on main bedroom level which is a huge plus! Large living room with big windows let’s in a ton of natural light! Formal dining room and kitchen have open views to the living room. There is a gated courtyard to enjoy those glorious evenings outdoors! And the 2 car attached garage with above-head storage and insulated garage door wraps up this package with a nice big bow!

21. 2018-06-26
    soldstatus $249,000
22. 2018-06-21
    soldstatus $249,000

    Show marketing remark (655 chars)

    **PROMOTION $3000 in closing costs** Upscale 3 story townhome located in Edgewater Community. 4 bedrooms, 3.5 baths plus a large bonus room. A grand entrance with 10ft ceilings, hardwood flooring, formal dining room, living room, and gas fireplace. Beautiful kitchen with granite tops, stainless steel appliances and pantry. Master Suite with walk in closet, double vanity, separate tub and shower. Gated courtyard outside. Enjoy Edgewater's Lady Ann Lake with walking trails, picnic areas, kid's playgrounds, tennis courts, swimming pool, clubhouse access, and a workout facility with sauna. Minutes from Redstone Arsenal, shopping mall and airport.

23. 2018-02-22
    listed $257,000

    Show marketing remark (655 chars)

    **PROMOTION $3000 in closing costs** Upscale 3 story townhome located in Edgewater Community. 4 bedrooms, 3.5 baths plus a large bonus room. A grand entrance with 10ft ceilings, hardwood flooring, formal dining room, living room, and gas fireplace. Beautiful kitchen with granite tops, stainless steel appliances and pantry. Master Suite with walk in closet, double vanity, separate tub and shower. Gated courtyard outside. Enjoy Edgewater's Lady Ann Lake with walking trails, picnic areas, kid's playgrounds, tennis courts, swimming pool, clubhouse access, and a workout facility with sauna. Minutes from Redstone Arsenal, shopping mall and airport.

24. 2007-10-15
    soldstatus $285,000

ⓘ 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: $1,991 · $166/mo
• Projected year-2 tax: $1,991 · $166/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,625
• − Mortgage interest: −$22,630
• − Property taxes: −$1,991
• − Insurance: −$2,020
• − Repairs & maintenance: −$2,450
• − Management: −$2,450
• − HOA: −$552
• − Depreciation: −$11,753
• Taxable loss: −$13,221
• Est. tax savings @ 24.0%: +$3,173
• After-tax cash flow: $-2,620/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 City
• NCES district ID: 0100008
• Math proficiency: 51% ▼ -25.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $89,091
• Composite: 55.56/100
• National rank: #1238
• State rank: #4 of 129 in AL

Livability — Madison

• Score: 76/100
• State rank: #12
• US rank: #3280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, AL
• County: Madison County · 380,832 people
• City population: 93,742
• Metro: Huntsville, AL
• Population (ZIP): 50,266
• Household income: $117,380
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 875.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Asian 7% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 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: ▲ 14.46%
• Current HPI: 355.2784
• Rent YoY: ▲ 1.58%
• 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

+41.8% since first listed

10 events — show timeline

• 2026-04-25 Listed $404,000 VMLS
• 2021-09-29 Sold (Public Records) $350,000 Public Records
• 2021-09-24 Sold (MLS) $350,000 VMLS
• 2021-08-19 Contingent — VMLS
• 2021-08-05 Price Changed $350,000 VMLS
• 2021-05-29 Listed $375,000 VMLS
• 2018-06-26 Sold (Public Records) $249,000 Public Records
• 2018-06-21 Sold (MLS) $249,000 VMLS
• 2018-02-22 Listed $257,000 VMLS
• 2007-10-15 Sold (Public Records) $285,000 Public Records

Property tax history

+4.7%/yr

Latest (2024): $1,991 · -2.4% YoY. Source: county tax records.