107 Virginia Dr · Athens, AL 35611

$184,900

2 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 74 Days on market

Built 1963 0.36 ac lot $152/sqft · at area comps Est $190k · at est.

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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).

• Cash flow +15.0/30.0
• ARV discount +8.8/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1-bath home located in the heart of town! Just minutes from downtown Athens, you'll enjoy easy access to local boutiques, restaurants, and all the charm this vibrant community has to offer. The property also features a spacious 36x24 workshop with roll-up doors—perfect for hobbies, storage, or small business use. A great opportunity for homeowners or investors alike!

Key facts

• 36x24 workshop
• 0.36 acre lot
• Parking

Tags

• 36X24 WORKSHOP
• EASY ACCESS TO LOCAL BOUTIQUES
• EASY ACCESS TO RESTAURANTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $56 ($670/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 $146k (20.8% below list).
• Recommended offer: $146k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: James L Cowart Elementary School (math 32% / reading 52%, grade F, #213 of 627 statewide, top 37%, 332 students, 67% 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: Rents rising (+1.2%/yr); 549 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($57k/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 $6k 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 74 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $145k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $146,355 (20.8% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• GRM: 10.5

CMA / ARV

• ARV (median comp): $190,302
• List price: $184,900
• Delta: -2.84%
• 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
107 Virginia Dr	0.00mi	2/1.0	1,230 (+1%)	1mo	$175,000	$142	98
102 Virginia Dr	0.06mi	3/1.0 (+1)	1,206 (-1%)	13mo	$175,000	$145	80
603 Schilling St	0.18mi	3/2.0 (+1)	1,235 (+1%)	12mo	$187,000	$151	71
203 Gordon Dr	0.11mi	3/1.0 (+1)	1,125 (-8%)	8mo	$169,900	$151	70
111 Virginia Dr	0.04mi	3/1.5 (+1)	1,380 (+13%)	9mo	$230,000	$167	62
205 N Debeth Plz	0.41mi	2/1.0	1,091 (-10%)	4mo	$116,000	$106	60
207 Sunset Dr	0.49mi	3/2.0 (+1)	1,224 (+0%)	16mo	$165,000	$135	54
302 Debeth Plz N	0.41mi	2/1.0	1,335 (+10%)	19mo	$157,600	$118	49
24490 Colorado Ln	0.41mi	3/2.0 (+1)	1,375 (+13%)	5mo	$250,990	$183	46
213 Sunset Dr	0.45mi	3/2.0 (+1)	1,075 (-12%)	8mo	$174,500	$162	44
108 Bullington Rd	0.69mi	3/1.5 (+1)	1,097 (-10%)	2mo	$185,000	$169	42
1404 Tower St	0.74mi	3/1.0 (+1)	1,050 (-14%)	8mo	$182,000	$173	30

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-29,052
• Equity at exit: $27,569

10-year hold

• IRR: -10.7%
• Equity multiple: 0.40×
• Total profit: $-31,214
• Equity at exit: $15,987

Cash invested: $51,772 (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 35611

• Rents YoY: 1.2%
• Active inventory: 549
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$970
• Tax from tax record: −$54 /mo · $644/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $56

Break-even live

Break-even rent $1,393

Max offer price $184,900

Occupancy floor 91%

Sensitivity live

Price	-10% $161	-5% $108	+0% $56	+5% $4	+10% $-49
Rent	-10% $-60	-5% $-2	+0% $56	+5% $114	+10% $171
Rate	-1.0pp $149	-0.5pp $103	base $56	+0.5pp $8	+1.0pp $-41

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Florence St Athens, AL	3.0	1.0	1260	$1,850	$1.47	45d	1	0.21mi
16129 Cohen Dr Athens, AL	2.0–4.0	2.0–2.5	1650	$1,420	$0.86	15d	9	0.44mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,469	$1.22	15d	1	0.91mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,239	$1.03	23d	1	0.91mi
514 Brownsferry St Athens, AL	3.0	1.0	953	$1,045	$1.10	45d	1	0.95mi
314 Browns Ferry St Athens, AL	3.0	1.0	950	$1,045	$1.10	45d	1	1.11mi
16917 Orleans Dr Unit 32 Athens, AL	3.0	2.0	1474	$1,900	$1.29	15d	1	1.15mi
100 Henry Dr Athens, AL	2.0–3.0	2.0	1073	$869	$0.81	15d	4	1.25mi
710 S Clinton St Athens, AL	1.0–3.0	1.0–2.0	1056	$1,100	$1.04	15d	6	1.26mi
707 Hine St N Athens, AL	3.0	1.5	1400	$1,450	$1.04	45d	1	1.30mi
17650 Brownsferry Rd Athens, AL	3.0	1.0	1234	$1,750	$1.42	15d	1	1.46mi

Listing history 7 events

1. 2026-05-04
   status Pending 395-char remark

   Show marketing remark (395 chars)

   Charming 3-bedroom, 1-bath home located in the heart of town! Just minutes from downtown Athens, you'll enjoy easy access to local boutiques, restaurants, and all the charm this vibrant community has to offer. The property also features a spacious 36x24 workshop with roll-up doors—perfect for hobbies, storage, or small business use. A great opportunity for homeowners or investors alike!

2. 2026-02-19
   listed $184,900 Active 395-char remark

   Show marketing remark (395 chars)

   Charming 3-bedroom, 1-bath home located in the heart of town! Just minutes from downtown Athens, you'll enjoy easy access to local boutiques, restaurants, and all the charm this vibrant community has to offer. The property also features a spacious 36x24 workshop with roll-up doors—perfect for hobbies, storage, or small business use. A great opportunity for homeowners or investors alike!

3. 2025-12-17
   price $184,900
4. 2025-09-26
   price $189,900
5. 2025-07-31
   listed $199,900 Active
6. 2025-07-03
   soldstatus $144,650
7. 2012-08-27
   soldstatus $52,000

ⓘ 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: $644 · $54/mo
• Projected year-2 tax: $758 · $63/mo
• Expected delta: +$114/yr (+$10/mo · 17.7%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,563
• − Mortgage interest: −$10,357
• − Property taxes: −$644
• − Insurance: −$924
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$5,379
• Taxable loss: −$2,552
• Est. tax savings @ 24.0%: +$613
• After-tax cash flow: $1,283/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): 29,969
• Household income: $57,377
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 811.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Hispanic / Latino 10% Two or more races 7% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 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: ▼ -115.98%
• Current HPI: 185.0264
• Rent YoY: ▲ 1.23%
• 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

+255.6% since first listed

7 events — show timeline

• 2026-05-04 Pending — VMLS
• 2026-02-19 Listed $184,900 VMLS
• 2025-12-17 Price Changed $184,900 VMLS
• 2025-09-26 Price Changed $189,900 VMLS
• 2025-07-31 Listed $199,900 VMLS
• 2025-07-03 Sold (Public Records) $144,650 Public Records
• 2012-08-27 Sold (Public Records) $52,000 Public Records

Property tax history

+5.3%/yr

Latest (2025): $644 · +12.0% YoY. Source: county tax records.