1913 Waxleaf Grn SE · Huntsville, AL 35803

$299,000

5 bd · 1.5 ba · 2,495 sqft · SingleFamily public records · 104 Days on market

Built 1973 $120/sqft · 13% below area Est $345k · 13% under

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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).

• ARV discount +13.5/15.0
• Cash flow +11.2/30.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• DSCR +3.3/10.0
• Schools +2.9/10.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious two-story home featuring 5 bedrooms and 3 bathrooms with plenty of room for comfortable living. The main living and dining areas feature durable tile flooring, while the kitchen offers attractive LVP flooring. The large 21x15 family room provides an ideal space for relaxing or entertaining. The oversized primary suite measures an impressive 25x14, offering plenty of space for a sitting area or additional furnishings. Enjoy the 18x12 sunroom overlooking a private, fenced backyard—perfect for morning coffee or evening gatherings. The home also includes a two-car garage and a privacy fence, adding both convenience and outdoor enjoyment.

Key facts

• Family room
• Sunroom
• Tile flooring

Tags

• TWO STORY HOME
• TILE FLOORING
• LVP FLOORING
• FAMILY ROOM
• SUNROOM
• PRIVATE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (22.5% below list).
• Recommended offer: $232k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: Weatherly Heights Elementary School (math 27% / reading 62%, grade F, #171 of 627 statewide, top 31%, 481 students, 42% FRL); Virgil Grissom High School (math 34% / reading 40%, grade F, #39 of 305 statewide, top 13%, 1,974 students, 43% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+3.7%/yr); 283 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $9k 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

• It's been on market 104 days — a 9% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $299k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,737 (22.5% 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 104 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.78% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 10.8

CMA / ARV

• ARV (median comp): $344,918
• List price: $299,000
• Delta: -13.31%
• 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
10103 Dunbarton Dr	0.44mi	4/2.0 (-1)	2,490 (-0%)	4mo	$390,000	$157	68
10019 Nadina Dr SE	0.53mi	4/2.5 (-1)	2,563 (+3%)	2mo	$430,000	$168	60
2519 Lancelot Dr	0.57mi	4/2.0 (-1)	2,435 (-2%)	7mo	$230,000	$94	57
12001 Queens Pl SE	0.48mi	4/3.0 (-1)	2,341 (-6%)	4mo	$180,000	$77	53
12028 Queens Pl SE	0.73mi	4/3.0 (-1)	2,450 (-2%)	1mo	$429,900	$175	51
9408 Ojay Dr	0.62mi	4/2.5 (-1)	2,407 (-4%)	6mo	$376,000	$156	51
9413 Lynns Ter SE	0.70mi	4/2.5 (-1)	2,430 (-3%)	4mo	$325,000	$134	51
9628 Waldrop Dr SE	0.47mi	4/2.5 (-1)	2,231 (-11%)	6mo	$370,000	$166	46
10012 Todd Mill Rd	0.48mi	4/3.0 (-1)	2,177 (-13%)	3mo	$389,000	$179	43
9403 Ojay Dr SE	0.67mi	4/2.5 (-1)	2,290 (-8%)	6mo	$350,000	$153	41
10102 Todd Mill Rd SE	0.55mi	4/2.5 (-1)	2,141 (-14%)	4mo	$328,000	$153	38
9606 Dortmund Dr SE	0.71mi	4/2.5 (-1)	2,230 (-11%)	5mo	$240,500	$108	36

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 · 3.72% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.35×
• Total profit: $-54,277
• Equity at exit: $44,582

10-year hold

• IRR: -9.4%
• Equity multiple: 0.40×
• Total profit: $-50,007
• Equity at exit: $25,852

Cash invested: $83,720 (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 35803

• Home prices YoY: -22.9%
• Rents YoY: 3.7%
• Active inventory: 283
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,317 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$256 /mo · $3,067/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $-117

Break-even live

Break-even rent $2,466

Max offer price $278,254

Occupancy floor —

Sensitivity live

Price	-10% $52	-5% $-33	+0% $-117	+5% $-202	+10% $-287
Rent	-10% $-301	-5% $-209	+0% $-117	+5% $-26	+10% $66
Rate	-1.0pp $33	-0.5pp $-41	base $-117	+0.5pp $-195	+1.0pp $-274

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8033 Navios Dr SE Huntsville, AL	5.0	3.5	3134	$2,400	$0.77	25d	1	0.83mi
2624 Excalibur Dr SE Huntsville, AL	4.0	2.5	2350	$2,300	$0.98	45d	1	0.90mi
9802 Dolphin Dr SE Huntsville, AL	4.0	2.0	2160	$2,175	$1.01	45d	1	1.06mi
710 Mountain Gap Rd SE Huntsville, AL	4.0	2.0	1801	$1,750	$0.97	45d	1	1.09mi
13111 Chaney Thompson Rd SE Huntsville, AL	4.0	3.0	2142	$1,795	$0.84	25d	1	1.34mi
11207 Crestfield Dr SE Huntsville, AL	5.0	2.5	2700	$1,898	$0.70	45d	1	1.37mi
13115 Chaney Thompson Rd SE Huntsville, AL	4.0	3.0	2052	$2,500	$1.22	25d	1	1.37mi
12005 Greenleaf Dr SE Huntsville, AL	4.0	3.0	2150	$2,500	$1.16	45d	1	1.50mi

Listing history 33 events

1. 2026-06-22
   days on market $299,000 Active 104 DOM
2. 2026-06-18
   days on market $299,000 Active 101 DOM
3. 2026-06-17
   days on market $299,000 Active 100 DOM
4. 2026-06-16
   days on market $299,000 Active 99 DOM
5. 2026-06-15
   days on market $299,000 Active 98 DOM
6. 2026-06-14
   days on market $299,000 Active 96 DOM
7. 2026-06-10
   days on market $299,000 Active 93 DOM
8. 2026-06-09
   days on market $299,000 Active 92 DOM
9. 2026-06-08
   days on market $299,000 Active 91 DOM
10. 2026-06-07
    pricedays on market $299,000 Active 90 DOM
11. 2026-06-03
    days on market $320,000 Active 86 DOM
12. 2026-06-02
    days on market $320,000 Active 85 DOM
13. 2026-06-01
    days on market $320,000 Active 84 DOM
14. 2026-05-31
    days on market $320,000 Active 83 DOM
15. 2026-05-30
    days on market $320,000 Active 82 DOM
16. 2026-03-09
    listed $320,000 Active 656-char remark

    Show marketing remark (656 chars)

    Spacious two-story home featuring 5 bedrooms and 3 bathrooms with plenty of room for comfortable living. The main living and dining areas feature durable tile flooring, while the kitchen offers attractive LVP flooring. The large 21x15 family room provides an ideal space for relaxing or entertaining. The oversized primary suite measures an impressive 25x14, offering plenty of space for a sitting area or additional furnishings. Enjoy the 18x12 sunroom overlooking a private, fenced backyard—perfect for morning coffee or evening gatherings. The home also includes a two-car garage and a privacy fence, adding both convenience and outdoor enjoyment.

17. 2025-12-19
    historical $1,945
18. 2025-12-07
    listed $1,945
19. 2024-08-27
    historical $1,945
20. 2024-08-22
    price $1,945
21. 2024-08-01
    price $2,035
22. 2024-07-25
    price $2,065
23. 2024-07-19
    price $2,095
24. 2024-07-05
    price $2,130
25. 2024-06-27
    price $2,160
26. 2024-06-21
    price $2,215
27. 2024-05-24
    listed $2,250
28. 2022-11-11
    historical
29. 2019-03-08
    soldstatus $150,000
30. 2019-03-05
    soldstatus $150,000 Sold 696-char remark

    Show marketing remark (696 chars)

    Looking for 4 bedrooms and a bonus space?? Located in one of the most desirable school districts in South Huntsville! Downstairs features a large family room with fireplace. Dining space and flex space that would make a great office or sitting area. Kitchen is centrally located has good storage and a view into sunroom. Sliding glass doors from family room take you to large sunroom that is perfect for enjoying spring mornings! Upstairs features 24X13 Master bedroom with walk in closet and en-suite. 3 additional bedrooms share full bathroom. Upstairs also has enormous bonus room! This home is just awaiting new owners! Minutes from Redstone Gate, Schools, Shopping & Parks! See it today!

31. 2019-02-28
    listed Contingent 696-char remark

    Show marketing remark (696 chars)

    Looking for 4 bedrooms and a bonus space?? Located in one of the most desirable school districts in South Huntsville! Downstairs features a large family room with fireplace. Dining space and flex space that would make a great office or sitting area. Kitchen is centrally located has good storage and a view into sunroom. Sliding glass doors from family room take you to large sunroom that is perfect for enjoying spring mornings! Upstairs features 24X13 Master bedroom with walk in closet and en-suite. 3 additional bedrooms share full bathroom. Upstairs also has enormous bonus room! This home is just awaiting new owners! Minutes from Redstone Gate, Schools, Shopping & Parks! See it today!

32. 2019-02-02
    listed $160,000 696-char remark

    Show marketing remark (696 chars)

    Looking for 4 bedrooms and a bonus space?? Located in one of the most desirable school districts in South Huntsville! Downstairs features a large family room with fireplace. Dining space and flex space that would make a great office or sitting area. Kitchen is centrally located has good storage and a view into sunroom. Sliding glass doors from family room take you to large sunroom that is perfect for enjoying spring mornings! Upstairs features 24X13 Master bedroom with walk in closet and en-suite. 3 additional bedrooms share full bathroom. Upstairs also has enormous bonus room! This home is just awaiting new owners! Minutes from Redstone Gate, Schools, Shopping & Parks! See it today!

33. 2006-08-01
    soldstatus $304,000

ⓘ 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: $3,067 · $256/mo
• Projected year-2 tax: $3,067 · $256/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,808
• − Mortgage interest: −$16,749
• − Property taxes: −$3,067
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,225
• − Management: −$2,225
• − Depreciation: −$8,698
• Taxable loss: −$6,650
• Est. tax savings @ 24.0%: +$1,596
• After-tax cash flow: $187/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): 29,197
• Household income: $100,846
• Rent vs Own: 16.6% rent · 83.4% own
• Severe rent burden: 411.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 3% Chinese 2% German/W. Germanic 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: ▼ -110.53%
• Current HPI: 372.1842
• Rent YoY: ▲ 3.72%
• 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

+5.3% since first listed

18 events — show timeline

• 2026-03-09 Listed $320,000 VMLS
• 2025-12-19 Rental Removed $1,945 RENTLY
• 2025-12-07 Listed for Rent $1,945 RENTLY
• 2024-08-27 Rental Removed $1,945 RENTLY
• 2024-08-22 Price Changed $1,945 RENTLY
• 2024-08-01 Price Changed $2,035 RENTLY
• 2024-07-25 Price Changed $2,065 RENTLY
• 2024-07-19 Price Changed $2,095 RENTLY
• 2024-07-05 Price Changed $2,130 RENTLY
• 2024-06-27 Price Changed $2,160 RENTLY
• 2024-06-21 Price Changed $2,215 RENTLY
• 2024-05-24 Listed for Rent $2,250 RENTLY
• 2022-11-11 Rental Removed — RENT.
• 2019-03-08 Sold (Public Records) $150,000 Public Records
• 2019-03-05 Sold (MLS) $150,000 VMLS
• 2019-02-28 Listed — VMLS
• 2019-02-02 Listed $160,000 VMLS
• 2006-08-01 Sold (Public Records) $304,000 Public Records

Property tax history

+12.2%/yr

Latest (2024): $3,067 · +6.5% YoY. Source: county tax records.