17232 Calcite Dr · Athens, AL 35613

$330,000

4 bd · 2.0 ba · 1,838 sqft · SingleFamily public records · 108 Days on market

Built 2020 0.28 ac lot $180/sqft · 8% below area Est $357k · 7% under $13/mo HOA · 1% of rent

---

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).

• Cash flow +11.5/30.0
• ARV discount +10.9/15.0
• Livability +3.8/5.0
• DSCR +3.4/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Full brick 4 bedroom rancher in desirable Ledges of Oakdale with a convenient location close to shopping, restaurants, schools, and more. This home features craftsman style woodwork, crown molding, and shiplap accents. The open concept layout offers a spacious living room with trey ceilings. The kitchen includes a large island, granite countertops, gas cooktop, farmhouse sink, tile backsplash, large pantry, and eat-in area. Isolated master suite features trey ceilings, walk-in closet, double vanities, tile shower, and soaking tub. Enjoy a large fenced backyard with covered patio, irrigation system, and great space for relaxing or entertaining.

Key facts

• Full brick
• Large island
• Crown molding

Tags

• FULL BRICK
• CRAFTSMAN STYLE WOODWORK
• CROWN MOLDING
• SHIPLAP ACCENTS
• OPEN CONCEPT LAYOUT
• LARGE ISLAND

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (28.4% below list).
• Recommended offer: $236k (28.4% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.5% in Athens — 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 75/100 on livability (#18 in AL, #4,019 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, commute F.
• Athens City (town): math 27% / reading 51% proficiency, ranked #29 of 129 in AL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Julian Newman Elementary School (math 42% / reading 57%, grade D, #121 of 627 statewide, top 21%, 371 students, 43% FRL); Athens Middle School (math 15% / reading 45%, grade F, #121 of 257 statewide, top 50%, 958 students, 59% FRL); Athens High School (math 29% / reading 38%, grade F, #56 of 305 statewide, top 18%, 1,173 students, 51% FRL).
• Market conditions: 821 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 494 units permitted in Limestone County in 2024 (0 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 $10k of value loss. Plan a longer hold.
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($300k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $231k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $236,435 (28.4% 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 108 days. Have you received any prior offers? Is the seller open to a 28% 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.41%
• DSCR: 0.94
• GRM: 11.6

CMA / ARV

• ARV (median comp): $356,579
• List price: $330,000
• Delta: -7.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22632 Big Oak Dr	0.03mi	3/2.5 (-1)	2,033 (+11%)	4mo	$335,000	$165	70
22796 Big Oak Dr	0.20mi	4/2.0	2,080 (+13%)	5mo	$354,000	$170	64
22829 Dashwood Ln	0.63mi	4/2.5	1,891 (+3%)	0mo	$274,150	$145	63
16670 Maggie Ct	0.62mi	4/2.5	1,891 (+3%)	8mo	$314,900	$167	58
22779 Dashwood Ln	0.68mi	4/2.5	1,753 (-5%)	1mo	$245,000	$140	58
22725 Dashwood Ln	0.73mi	4/2.5	1,891 (+3%)	2mo	$276,650	$146	57
23348 Frank St	0.63mi	3/2.0 (-1)	1,920 (+4%)	4mo	$350,000	$182	55
16656 Maggie Ct	0.63mi	4/2.0	1,667 (-9%)	3mo	$264,400	$159	53
22755 Dashwood Ln	0.71mi	4/2.0	1,667 (-9%)	1mo	$255,400	$153	50
16680 Maggie Ct	0.61mi	4/2.0	1,667 (-9%)	10mo	$259,900	$156	48
22719 Dashwood Ln	0.75mi	4/2.0	1,667 (-9%)	3mo	$253,650	$152	48
16638 Maggie Ct	0.65mi	4/2.0	1,667 (-9%)	10mo	$274,900	$165	46

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-60,559
• Equity at exit: $49,204

10-year hold

• IRR: -11.2%
• Equity multiple: 0.33×
• Total profit: $-62,276
• Equity at exit: $28,532

Cash invested: $92,400 (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 35613

• Home prices YoY: -33.9%
• Active inventory: 821
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,364 high
• Mortgage (P&I): −$1,731
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$138
• HOA: −$13
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-109

Break-even live

Break-even rent $2,502

Max offer price $310,768

Occupancy floor 100%

Sensitivity live

Price	-10% $78	-5% $-15	+0% $-109	+5% $-202	+10% $-296
Rent	-10% $-296	-5% $-202	+0% $-109	+5% $-15	+10% $78
Rate	-1.0pp $57	-0.5pp $-25	base $-109	+0.5pp $-194	+1.0pp $-281

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: $82,500
• Closing costs: $9,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22959 Oakdale Ridge Ln Athens, AL	3.0	2.0	1660	$1,795	$1.08	46d	1	0.27mi
22895 Ansley Dr Athens, AL	4.0	3.0	2338	$2,800	$1.20	46d	1	0.37mi
22882 Ansley Dr Athens, AL	4.0	3.0	2503	$2,875	$1.15	16d	1	0.40mi
22779 Dashwood Ln Unit 20 Athens, AL	4.0	2.5	1753	$2,100	$1.20	25d	1	0.67mi
22755 Dashwood Ln Athens, AL	4.0	2.0	1667	$2,100	$1.26	25d	1	0.69mi
22733 Dashwood Ln Athens, AL	3.0	2.0	1474	$1,750	$1.19	25d	1	0.71mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-21
   days on market $330,000 Active 108 DOM
2. 2026-06-18
   days on market $330,000 Active 105 DOM
3. 2026-06-17
   days on market $330,000 Active 104 DOM
4. 2026-06-16
   days on market $330,000 Active 103 DOM
5. 2026-06-15
   days on market $330,000 Active 102 DOM
6. 2026-06-14
   days on market $330,000 Active 100 DOM
7. 2026-06-10
   days on market $330,000 Active 97 DOM
8. 2026-06-09
   days on market $330,000 Active 96 DOM
9. 2026-06-08
   days on market $330,000 Active 95 DOM
10. 2026-06-07
    days on market $330,000 Active 94 DOM
11. 2026-06-05
    days on market $330,000 Active 91 DOM
12. 2026-06-03
    days on market $330,000 Active 90 DOM
13. 2026-06-02
    days on market $330,000 Active 89 DOM
14. 2026-06-01
    days on market $330,000 Active 88 DOM
15. 2026-05-31
    days on market $330,000 Active 87 DOM
16. 2026-05-30
    days on market $330,000 Active 86 DOM
17. 2026-03-05
    listed $330,000 Active 651-char remark

    Show marketing remark (651 chars)

    Full brick 4 bedroom rancher in desirable Ledges of Oakdale with a convenient location close to shopping, restaurants, schools, and more. This home features craftsman style woodwork, crown molding, and shiplap accents. The open concept layout offers a spacious living room with trey ceilings. The kitchen includes a large island, granite countertops, gas cooktop, farmhouse sink, tile backsplash, large pantry, and eat-in area. Isolated master suite features trey ceilings, walk-in closet, double vanities, tile shower, and soaking tub. Enjoy a large fenced backyard with covered patio, irrigation system, and great space for relaxing or entertaining.

18. 2020-10-28
    soldstatus $231,130 Sold 694-char remark

    Show marketing remark (694 chars)

    Located just East of Athens, The Ledges of Oakdale is a quiet community with a rural feel but only minutes away from Downtown Athens. Upscale STANDARD amenities include Craftsman paneling, trey ceilings with ship lap inlay and crown in main living areas and MBR, tile shower with frameless glass shower door and tile tub surround, hardwood flooring in main living and traffic areas, granite counter tops, soft close cabinets and drawers, abundant lighting, Security system, Smart and Network Home ready, full sod with irrigation system. 1-yr Builder Warranty; 2-yr Systems; 10-yr Structural. Additional amenities include gas gourmet kitchen package, farmhouse sink and multiple cabinet colors.

19. 2020-06-21
    status Pending 694-char remark

    Show marketing remark (694 chars)

    Located just East of Athens, The Ledges of Oakdale is a quiet community with a rural feel but only minutes away from Downtown Athens. Upscale STANDARD amenities include Craftsman paneling, trey ceilings with ship lap inlay and crown in main living areas and MBR, tile shower with frameless glass shower door and tile tub surround, hardwood flooring in main living and traffic areas, granite counter tops, soft close cabinets and drawers, abundant lighting, Security system, Smart and Network Home ready, full sod with irrigation system. 1-yr Builder Warranty; 2-yr Systems; 10-yr Structural. Additional amenities include gas gourmet kitchen package, farmhouse sink and multiple cabinet colors.

20. 2020-06-06
    listed $231,130 Active 694-char remark

    Show marketing remark (694 chars)

    Located just East of Athens, The Ledges of Oakdale is a quiet community with a rural feel but only minutes away from Downtown Athens. Upscale STANDARD amenities include Craftsman paneling, trey ceilings with ship lap inlay and crown in main living areas and MBR, tile shower with frameless glass shower door and tile tub surround, hardwood flooring in main living and traffic areas, granite counter tops, soft close cabinets and drawers, abundant lighting, Security system, Smart and Network Home ready, full sod with irrigation system. 1-yr Builder Warranty; 2-yr Systems; 10-yr Structural. Additional amenities include gas gourmet kitchen package, farmhouse sink and multiple cabinet colors.

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,353 · $113/mo
• Expected delta: +$205/yr (+$17/mo · 17.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,372
• − Mortgage interest: −$18,485
• − Property taxes: −$1,148
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − HOA: −$156
• − Depreciation: −$9,600
• Taxable loss: −$7,206
• Est. tax savings @ 24.0%: +$1,730
• After-tax cash flow: $423/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: Athens City
• NCES district ID: 0100120
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $45,479
• Composite: 33.14/100
• National rank: #5555
• State rank: #29 of 129 in AL

Livability — Athens

• Score: 75/100
• State rank: #18
• US rank: #4019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, AL
• County: Limestone County · 80,439 people
• City population: 55,492
• Metro: Huntsville, AL
• Population (ZIP): 25,523
• Household income: $100,845
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 118.0

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 111,441 people
• By 2030: 121,272 · +8.8%
• By 2040: 140,705 · +26.3%
• By 2050: 159,069 · +42.7%
• By 2075: 202,231 · +81.5%
• By 2100: 230,608 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Vietnamese 1%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+43.9) · D 27.5% · R 71.4% · Other 1.2%
• 2008→2024 swing: -2.0pp toward R · 2008: -41.9pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+42.6 2016: R+49.5 2012: R+43.6 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.56%
• Current HPI: 173.0763
• 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

+42.8% since first listed

4 events — show timeline

• 2026-03-05 Listed $330,000 VMLS
• 2020-10-28 Sold (MLS) $231,130 VMLS
• 2020-06-21 Pending — VMLS
• 2020-06-06 Listed $231,130 VMLS

Property tax history

+19.6%/yr

Latest (2025): $1,148 · +6.7% YoY. Source: county tax records.