Harper Plan · Madison, AL 35758

$624,900

5 bd · 2.5 ba · 4,345 sqft · SingleFamily · 72 Days on market

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Why this score? — see what drove the F 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
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Cash flow +1.1/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to the Harper! This spacious 2-story floorplan was designed with comfort, convenience, and style in mind. From the moment you walk through the front door, you will notice the open-concept layout and the beautiful finishes. The dining room sits at the front of the home and has several options to personalize the space to your liking. Add double doors, a gorgeous tray ceiling, or a stunning trim wall! The kitchen is a focal point of the home, with features such as a large island and a cozy breakfast area. A huge family room flows off the kitchen for a large and inviting space to enjoy with your family. The second floor boasts 4 spacious bedrooms, a full bathroom, and a spacious bonus room that's a no-brainer for a large family! The owners bedroom has a walk-in closet and a double vanity in the bathroom. Upgrade to a tile shower or personalized shelving in the closet for additional luxury!No matter what needs and desires you have for your dream home, the Harper can fulfill it all! Contact us today to learn more about making this home yours. * Pricing is subject to change, please contact our Sales Team for the most up to date information!

Key facts

• Listed 72 days

🏗️ New construction. The $624,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $803,383.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $625k.

Deal economics

• At list price, monthly cash flow is $-3k ($-39k/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (47.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $287k (54.1% below list).
• Recommended offer: $287k (54.1% below list) — sets the bar for 1% rule.
• Cap rate 1.4% 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+, 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: Madison Elementary School (math 53% / reading 72%, grade B, #51 of 627 statewide, top 8%, 505 students, 27% FRL); Liberty Middle School (math 45% / reading 77%, grade B+, #9 of 257 statewide, top 3%, 1,493 students, 22% FRL); James Clemens High School (math 50% / reading 53%, grade D+, #14 of 305 statewide, top 4%, 2,149 students, 21% FRL).
• Market conditions: Rents rising (+1.6%/yr); 390 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $86k of equity ($6k loan paydown + $80k 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 ~$138k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($587k) is reasonable based on typical stale-listing flexibility.

Recommended offer $286,960 (54.1% 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 72 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
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. 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. 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: 0.36% ✗
• Cap rate: 1.39%
• Cash-on-cash: -17.52%
• DSCR: 0.22
• GRM: 23.3

CMA / ARV

• ARV (median comp): $803,383
• List price: $624,900
• Delta: -22.22%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 2.00×
• Total profit: $224,320
• Equity at exit: $723,751

10-year hold

• IRR: 12.5%
• Equity multiple: 4.63×
• Total profit: $817,465
• Equity at exit: $1,560,796

Cash invested: $224,947 (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: 390
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $2,870 medium
• Mortgage (P&I): −$4,213
• Tax est. 1.5%: −$1,004 /mo · $12,051/yr
• Insurance: −$335
• HOA: −$0
• Vacancy / Maint / Mgmt: −$603
• Net cashflow: $-3,285

Break-even live

Break-even rent $7,028

Max offer price $328,036

Occupancy floor —

Sensitivity live

Price	-10% $-2,730	-5% $-3,007	+0% $-3,285	+5% $-3,563	+10% $-3,840
Rent	-10% $-3,512	-5% $-3,398	+0% $-3,285	+5% $-3,172	+10% $-3,058
Rate	-1.0pp $-2,880	-0.5pp $-3,081	base $-3,285	+0.5pp $-3,493	+1.0pp $-3,705

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: $200,846
• Closing costs: $24,101
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Cormorant Lndg Madison, AL	4.0	3.5	3692	$3,600	$0.98	25d	1	0.97mi
101 Mill Ridge Dr Madison, AL	4.0	3.5	3453	$3,100	$0.90	15d	1	1.05mi
240 Heritage Mill Dr Madison, AL	4.0	4.5	3600	$2,975	$0.83	45d	1	1.20mi
104 Horseshoe Bnd S Madison, AL	4.0	3.5	3100	$2,650	$0.85	45d	1	1.35mi

Listing history 16 events

1. 2026-06-22
   days on market $624,900 Active 72 DOM
2. 2026-06-18
   days on market $624,900 Active 69 DOM
3. 2026-06-17
   days on market $624,900 Active 68 DOM
4. 2026-06-16
   days on market $624,900 Active 67 DOM
5. 2026-06-15
   days on market $624,900 Active 66 DOM
6. 2026-06-14
   days on market $624,900 Active 64 DOM
7. 2026-06-10
   days on market $624,900 Active 61 DOM
8. 2026-06-09
   days on market $624,900 Active 60 DOM
9. 2026-06-08
   days on market $624,900 Active 59 DOM
10. 2026-06-07
    days on market $624,900 Active 58 DOM
11. 2026-06-03
    days on market $624,900 Active 54 DOM
12. 2026-06-02
    days on market $624,900 Active 53 DOM
13. 2026-06-01
    days on market $624,900 Active 52 DOM
14. 2026-05-31
    days on market $624,900 Active 51 DOM
15. 2026-05-30
    days on market $624,900 Active 50 DOM
16. 2026-04-10
    listed $624,900 Active 1159-char remark

    Show marketing remark (1159 chars)

    Welcome to the Harper! This spacious 2-story floorplan was designed with comfort, convenience, and style in mind. From the moment you walk through the front door, you will notice the open-concept layout and the beautiful finishes. The dining room sits at the front of the home and has several options to personalize the space to your liking. Add double doors, a gorgeous tray ceiling, or a stunning trim wall! The kitchen is a focal point of the home, with features such as a large island and a cozy breakfast area. A huge family room flows off the kitchen for a large and inviting space to enjoy with your family. The second floor boasts 4 spacious bedrooms, a full bathroom, and a spacious bonus room that's a no-brainer for a large family! The owners bedroom has a walk-in closet and a double vanity in the bathroom. Upgrade to a tile shower or personalized shelving in the closet for additional luxury!No matter what needs and desires you have for your dream home, the Harper can fulfill it all! Contact us today to learn more about making this home yours. * Pricing is subject to change, please contact our Sales Team for the most up to date information!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $34,435
• − Mortgage interest: −$45,002
• − Property taxes: −$12,051
• − Insurance: −$4,017
• − Repairs & maintenance: −$2,755
• − Management: −$2,755
• − Depreciation: −$23,371
• Taxable loss: −$55,515
• Est. tax savings @ 24.0%: +$13,324
• After-tax cash flow: $-26,097/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

1 event — show timeline

• 2026-04-10 Listed $624,900 Zillow