Palmetto Plan · Madison, AL 35758

$1

4 bd · 3.5 ba · 2,916 sqft · SingleFamily · 342 Days on market

Excellent condition

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Condition / age +4.8/5.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Cash flow +1.5/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Designed for comfort and connection, the Palmetto welcomes you with a wide front porch that opens into a grand foyer and airy great room. The heart of the home is a spacious kitchen featuring a generous eat-in island, perfect for casual meals or entertaining. Just off the kitchen, the dining room flows effortlessly into a charming sunroom on one side and a spacious covered porch on the other-ideal for enjoying both quiet mornings and lively gatherings. Down the hall, the private primary suite includes a well-appointed en-suite bathroom and a large walk-in closet, with the laundry room conveniently located near the lower-level garage entry. Upstairs, additional bedrooms and bathrooms provide flexibility for guests or growing households, along with a bonus room ready to adapt to your needs-whether for play, work, or relaxation.

Key facts

• Modern convenience
• Gourmet kitchens
• Walkable streets

Tags

• MODERN CONVENIENCE
• WALKABLE STREETS
• NEW CONSTRUCTION HOMES
• SMART HOME TECHNOLOGY
• GOURMET KITCHENS
• OUTDOOR SPACES

🏗️ New construction. The $1 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $742,949.

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $1. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-3k ($-35k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1).
• Cap rate 1.6% vs local median 2.6% in Madison — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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+, schools A; 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.
• Market conditions: Rents rising (+1.6%/yr); 382 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $79k of equity ($5k loan paydown + $74k 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 ~$128k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 342 days — a 12% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 1114424.0% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

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 342 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.38% ✗
• Cap rate: 1.62%
• Cash-on-cash: -16.70%
• DSCR: 0.26
• GRM: 21.8

CMA / ARV

• ARV (median comp): $742,949
• List price: $1
• Delta: -100.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
140 Bourbon Aly	0.10mi	4/3.5	2,840 (-3%)	5mo	$645,000	$227	87
639 Town Madison Blvd	0.06mi	4/3.5	2,670 (-8%)	6mo	$731,846	$274	78
373 Saint Louis St	0.20mi	4/3.5	3,141 (+8%)	1mo	$905,800	$288	77
381 Saint Louis St	0.25mi	4/3.5	2,770 (-5%)	5mo	$839,900	$303	75
213 Saint Louis St	0.31mi	5/3.5 (+1)	2,949 (+1%)	6mo	$649,900	$220	74
615 Town Madison Blvd	0.06mi	4/3.5	2,535 (-13%)	6mo	$590,000	$233	71
103 Emerald Ln	0.29mi	4/3.0	2,709 (-7%)	9mo	$503,000	$186	66
100 Lake View Cir	0.50mi	4/3.0	3,144 (+8%)	6mo	$567,000	$180	57
114 Canterbury Dr	0.50mi	4/2.5	2,699 (-7%)	6mo	$420,000	$156	55
151 Canterbury Dr	0.43mi	3/2.5 (-1)	2,613 (-10%)	1mo	$425,000	$163	52
109 Spinnaker Cir	0.49mi	4/3.0	3,334 (+14%)	0mo	$595,000	$178	51
206 Mainsail Way	0.68mi	4/2.5	2,747 (-6%)	6mo	$450,000	$164	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: 12.5%
• Equity multiple: 2.04×
• Total profit: $216,262
• Equity at exit: $669,308

10-year hold

• IRR: 12.8%
• Equity multiple: 4.72×
• Total profit: $774,324
• Equity at exit: $1,443,387

Cash invested: $208,026 (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

Monthly cashflow live

• Estimated rent: $2,834 high
• Mortgage (P&I): −$3,896
• Tax est. 1.5%: −$929 /mo · $11,144/yr
• Insurance: −$310
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $-2,896

Break-even live

Break-even rent $6,499

Max offer price $323,961

Occupancy floor —

Sensitivity live

Price	-10% $-2,382	-5% $-2,639	+0% $-2,896	+5% $-3,152	+10% $-3,409
Rent	-10% $-3,119	-5% $-3,007	+0% $-2,896	+5% $-2,784	+10% $-2,672
Rate	-1.0pp $-2,521	-0.5pp $-2,707	base $-2,896	+0.5pp $-3,088	+1.0pp $-3,284

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: $185,737
• Closing costs: $22,288
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Poydras St Madison, AL	3.0	2.0	2457	$3,450	$1.40	22d	1	0.11mi
108 Napolean Ave Madison, AL	4.0	3.5	2761	$3,650	$1.32	24d	1	0.13mi
531 Town Madison Blvd Madison, AL	3.0	2.5	2332	$3,195	$1.37	45d	1	0.16mi
118 Canterbury Dr Madison, AL	3.0	2.0	2031	$2,300	$1.13	45d	1	0.48mi
102 W Lake Cir Madison, AL	3.0	2.5	2150	$1,700	$0.79	15d	1	0.51mi
102 Spinnaker Ridge Dr SW Huntsville, AL	3.0	2.5	2150	$2,100	$0.98	45d	1	0.85mi
103 Rainwood Dr SW Huntsville, AL	4.0	2.5	2155	$2,400	$1.11	45d	1	1.24mi
325 Acorn Grove Ln SW Huntsville, AL	4.0	2.0	1950	$2,200	$1.13	15d	1	1.39mi

Listing history 2 events

1. 2025-08-28
   price $1 837-char remark

   Show marketing remark (837 chars)

   Designed for comfort and connection, the Palmetto welcomes you with a wide front porch that opens into a grand foyer and airy great room. The heart of the home is a spacious kitchen featuring a generous eat-in island, perfect for casual meals or entertaining. Just off the kitchen, the dining room flows effortlessly into a charming sunroom on one side and a spacious covered porch on the other-ideal for enjoying both quiet mornings and lively gatherings. Down the hall, the private primary suite includes a well-appointed en-suite bathroom and a large walk-in closet, with the laundry room conveniently located near the lower-level garage entry. Upstairs, additional bedrooms and bathrooms provide flexibility for guests or growing households, along with a bonus room ready to adapt to your needs-whether for play, work, or relaxation.

2. 2025-06-18
   listed $712,699 Active 837-char remark

   Show marketing remark (837 chars)

   Designed for comfort and connection, the Palmetto welcomes you with a wide front porch that opens into a grand foyer and airy great room. The heart of the home is a spacious kitchen featuring a generous eat-in island, perfect for casual meals or entertaining. Just off the kitchen, the dining room flows effortlessly into a charming sunroom on one side and a spacious covered porch on the other-ideal for enjoying both quiet mornings and lively gatherings. Down the hall, the private primary suite includes a well-appointed en-suite bathroom and a large walk-in closet, with the laundry room conveniently located near the lower-level garage entry. Upstairs, additional bedrooms and bathrooms provide flexibility for guests or growing households, along with a bonus room ready to adapt to your needs-whether for play, work, or relaxation.

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $34,007
• − Mortgage interest: −$41,617
• − Property taxes: −$11,144
• − Insurance: −$3,715
• − Repairs & maintenance: −$2,721
• − Management: −$2,721
• − Depreciation: −$21,613
• Taxable loss: −$49,523
• Est. tax savings @ 24.0%: +$11,885
• After-tax cash flow: $-22,861/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 · 21 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern amenities and a well-maintained exterior. It is move-in ready and would benefit from a fresh coat of paint and smart home features to further enhance its value.

Value-add opportunities

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value
• Both Adding smart home features — Modern technology can increase both resale and rental value
• Both Upgrading appliances — Modern appliances can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value ↑
• Both Adding smart home features — Modern technology can increase both resale and rental value ↑
• Both Upgrading appliances — Modern appliances can attract more buyers and renters ↑

ⓘ 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: 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

2 events — show timeline

• 2025-08-28 Price Changed $1 Zillow
• 2025-06-18 Listed $712,699 Zillow