715 Main Street East · Hartselle, AL 35640

$279,000

4 bd · 1.0 ba · 2,065 sqft · MultiFamily public records · 361 Days on market

Built 1930 0.42 ac lot $135/sqft · 35% above area Est $213k · 31% over

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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 +18.8/30.0
• DSCR +5.9/10.0
• Schools +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Nice and well maintained duplex downtown Hartselle, minutes from Hartselle City Schools, restaurants, and I-65 for commute to Madison and Huntsville. Each unit offers 2 bedrooms, 1 full bath, kitchen, dining area, living room, laundry room, large walk-in closet, covered front porch, outside storage unit and a single car carport. Tenant pays all individual utilities. Owner pays for lawn care.

Key facts

• Covered front porch
• Single car carport
• Lawn care

Tags

• DUPLEX DOWNTOWN HARTSELLE
• COVERED FRONT PORCH
• OUTSIDE STORAGE UNIT
• SINGLE CAR CARPORT
• LAWN CARE

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $279k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive. Per door: $141/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $252k (9.5% below list).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.0% in Hartselle — 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 72/100 on livability (#32 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Hartselle City (other): math 41% / reading 64% proficiency, ranked #10 of 129 in AL (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 193 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 231 units permitted in Morgan 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 $8k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 361 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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 $104k; list at $279k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $245,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 361 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.91% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• GRM: 9.2

CMA / ARV

• ARV (median comp): $212,502
• List price: $279,000
• Delta: 31.29%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 Hammitt St NE	0.45mi	4/4.0	2,015 (-2%)	9mo	$296,000	$147	55

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-27,400
• Equity at exit: $41,600

10-year hold

• IRR: -0.2%
• Equity multiple: 0.98×
• Total profit: $-1,186
• Equity at exit: $24,123

Cash invested: $78,120 (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 35640

• Home prices YoY: -13.6%
• Active inventory: 193
• Price-to-rent: 18.4×

Monthly cashflow live

• Estimated rent: $2,525 high
• Mortgage (P&I): −$1,463
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$116
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $281

Break-even live

Break-even rent $2,169

Max offer price $279,000

Occupancy floor 84%

Sensitivity live

Price	-10% $439	-5% $360	+0% $281	+5% $202	+10% $123
Rent	-10% $82	-5% $181	+0% $281	+5% $381	+10% $481
Rate	-1.0pp $422	-0.5pp $352	base $281	+0.5pp $209	+1.0pp $135

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,524
Total (2 units)			$2,525

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
506 Hickory St SE Unit B Hartselle, AL	3.0	2.0	1462	$1,400	$0.96	24d	1	0.20mi
500 Crestline Dr SW Hartselle, AL	3.0	2.0	1420	$1,500	$1.06	15d	1	1.39mi

Listing history 23 events

1. 2026-06-21
   days on market $279,000 Active 361 DOM
2. 2026-06-19
   days on market $279,000 Active 359 DOM
3. 2026-06-18
   days on market $279,000 Active 358 DOM
4. 2026-06-17
   days on market $279,000 Active 357 DOM
5. 2026-06-16
   days on market $279,000 Active 356 DOM
6. 2026-06-15
   days on market $279,000 Active 355 DOM
7. 2026-06-14
   days on market $279,000 Active 353 DOM
8. 2026-06-12
   days on market $279,000 Active 352 DOM
9. 2026-06-09
   days on market $279,000 Active 349 DOM
10. 2026-06-08
    days on market $279,000 Active 348 DOM
11. 2026-06-07
    days on market $279,000 Active 347 DOM
12. 2026-06-07
    days on market $279,000 Active 346 DOM
13. 2026-06-04
    days on market $279,000 Active 343 DOM
14. 2026-06-02
    days on market $279,000 Active 342 DOM
15. 2026-06-01
    days on market $279,000 Active 341 DOM
16. 2026-05-31
    days on market $279,000 Active 340 DOM
17. 2026-05-31
    days on market $279,000 Active 339 DOM
18. 2025-06-25
    listed $279,000 Active 394-char remark

    Show marketing remark (394 chars)

    Nice and well maintained duplex downtown Hartselle, minutes from Hartselle City Schools, restaurants, and I-65 for commute to Madison and Huntsville. Each unit offers 2 bedrooms, 1 full bath, kitchen, dining area, living room, laundry room, large walk-in closet, covered front porch, outside storage unit and a single car carport. Tenant pays all individual utilities. Owner pays for lawn care.

19. 2023-11-06
    listed $239,900 Active
20. 2015-09-18
    soldstatus $103,625
21. 2015-09-16
    soldstatus $103,500
22. 2014-08-20
    listed $115,900
23. 2009-12-10
    soldstatus $85,500

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $1,611 · $134/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,300
• − Mortgage interest: −$15,628
• − Property taxes: −$1,611
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,424
• − Management: −$2,424
• − Depreciation: −$8,116
• Taxable loss: −$1,299
• Est. tax savings @ 24.0%: +$312
• After-tax cash flow: $3,685/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: Hartselle City
• NCES district ID: 0101730
• Math proficiency: 41% ▼ -25.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $51,169
• Composite: 44.88/100
• National rank: #2717
• State rank: #10 of 129 in AL

Livability — Hartselle

• Score: 72/100
• State rank: #32
• US rank: #6515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartselle, AL
• City population: 26,976
• Population (ZIP): 26,976

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.12%
• Current HPI: 242.5778
• Rent YoY: —
• Metro: —
• 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

+226.3% since first listed

6 events — show timeline

• 2025-06-25 Listed $279,000 VMLS
• 2023-11-06 Listed $239,900 VMLS
• 2015-09-18 Sold (Public Records) $103,625 Public Records
• 2015-09-16 Sold (MLS) $103,500 VMLS
• 2014-08-20 Listed $115,900 VMLS
• 2009-12-10 Sold (Public Records) $85,500 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,611 · +0.0% YoY. Source: county tax records.