148 Morning Dew Rd · Huntsville, AL 35773

$314,900

3 bd · 1.5 ba · 2,259 sqft · SingleFamily public records · 33 Days on market

Built 2022 7,840 sqft lot Est $357k · 12% under $25/mo HOA · 1% of rent

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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 +12.8/15.0
• Appreciation +10.0/10.0
• Cash flow +7.4/30.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.5/10.0

Listing remarks MLS

Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

Key facts

• Covered patio
• Vast bonus room
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• ABUNDANT CABINET SPACE
• VAST BONUS ROOM
• COVERED PATIO
• LARGE PRIVACY-FENCED BACKYARD

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $300

Exterior

• Parking: Two-car garage
• Utilities: Public water; Public sewer; Electric service for cooling/heating
• Home design: Single-family residence; Built in 2022; Residential property; Two levels
• Construction: Slab foundation
• Exterior features: Public water; Public sewer; Lot in the Ivy Hills subdivision

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Central cooling; Electric cooling
• Interior features: Two-story layout; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-402 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (22.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (35.4% below list).
• Recommended offer: $204k (35.4% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in Huntsville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Madison County (rural): math 27% / reading 56% proficiency, ranked #19 of 129 in AL (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Madison Cross Roads Elementary School (math 14% / reading 48%, grade F, #360 of 627 statewide, top 58%, 1,035 students, 59% FRL); Sparkman Middle School (math 18% / reading 53%, grade F, #81 of 257 statewide, top 33%, 859 students, 60% FRL); Sparkman High School (math 28% / reading 37%, grade F, #58 of 305 statewide, top 19%, 1,738 students, 37% FRL) — zoned schools average 52% FRL vs 29% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 326 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($2k loan paydown + $31k 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 ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $19k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $203,529 (35.4% 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 33 days. Have you received any prior offers? Is the seller open to a 35% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.65% ✗
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 12.9

CMA / ARV

• ARV (on-the-fly): $356,922
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Barn Trail Way	0.06mi	4/2.0 (+1)	2,422 (+7%)	10mo	$278,000	$115	69
112 Cotita Dr	0.23mi	4/3.0 (+1)	2,136 (-5%)	1mo	$370,006	$173	68
140 Ivy Vine Dr	0.17mi	4/3.0 (+1)	2,136 (-5%)	8mo	$320,000	$150	65
139 Morning Dew Rd	0.06mi	4/2.5 (+1)	2,548 (+13%)	6mo	$305,000	$120	62
109 Magnolia Hill Ave	0.60mi	4/2.0 (+1)	2,191 (-3%)	2mo	$375,479	$171	58
162 Morning Dew Rd	0.23mi	4/2.5 (+1)	2,055 (-9%)	9mo	$313,000	$152	58
148 Beaver Brook Pl	0.08mi	4/2.5 (+1)	1,963 (-13%)	10mo	$316,900	$161	58
183 Beaver Brook Pl	0.14mi	4/2.5 (+1)	2,572 (+14%)	8mo	$359,000	$140	55
108 Cotita Dr	0.20mi	4/2.0 (+1)	1,964 (-13%)	8mo	$351,500	$179	55
196 Beaver Brook Pl	0.21mi	4/2.0 (+1)	1,964 (-13%)	10mo	$294,000	$150	52
124 Cotita Dr	0.26mi	4/2.0 (+1)	1,964 (-13%)	8mo	$320,900	$163	52
149 Ivy Vine Dr	0.24mi	4/3.0 (+1)	1,964 (-13%)	9mo	$309,900	$158	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.4%
• Equity multiple: 2.65×
• Total profit: $145,849
• Equity at exit: $283,687

10-year hold

• IRR: 18.6%
• Equity multiple: 6.10×
• Total profit: $449,475
• Equity at exit: $611,781

Cash invested: $88,172 (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 35773

• Home prices YoY: 28.8%
• Active inventory: 326
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,035 medium
• Mortgage (P&I): −$1,651
• Tax from tax record: −$202 /mo · $2,424/yr
• Insurance: −$131
• HOA: −$25
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $-402

Break-even live

Break-even rent $2,544

Max offer price $243,943

Occupancy floor —

Sensitivity live

Price	-10% $-223	-5% $-313	+0% $-402	+5% $-491	+10% $-580
Rent	-10% $-562	-5% $-482	+0% $-402	+5% $-321	+10% $-241
Rate	-1.0pp $-243	-0.5pp $-322	base $-402	+0.5pp $-483	+1.0pp $-566

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: $78,725
• Closing costs: $9,447
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
119 Beaver Brook Pl Toney, AL	4.0	2.5	2448	$2,000	$0.82	45d	1	0.13mi
147 Ivy Vine Dr Toney, AL	4.0	3.0	2136	$2,100	$0.98	25d	1	0.24mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 22 events

1. 2026-06-22
   days on market $314,900 Active 33 DOM
2. 2026-06-18
   days on market $314,900 Active 30 DOM
3. 2026-06-17
   days on market $314,900 Active 29 DOM
4. 2026-06-16
   pricedays on market $314,900 Active 28 DOM
5. 2026-06-15
   days on market $324,900 Active 27 DOM
6. 2026-06-14
   days on market $324,900 Active 25 DOM
7. 2026-06-10
   days on market $324,900 Active 22 DOM
8. 2026-06-09
   days on market $324,900 Active 21 DOM
9. 2026-06-08
   days on market $324,900 Active 20 DOM
10. 2026-06-07
    days on market $324,900 Active 19 DOM
11. 2026-06-02
    days on market $324,900 Active 14 DOM
12. 2026-06-01
    days on market $324,900 Active 13 DOM
13. 2026-05-31
    days on market $324,900 Active 12 DOM
14. 2026-05-30
    days on market $324,900 Active 11 DOM
15. 2026-05-19
    listed $334,000 Active
16. 2022-09-27
    soldstatus $305,605 Sold 689-char remark

    Show marketing remark (689 chars)

    Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

17. 2022-08-26
    status Pending 689-char remark

    Show marketing remark (689 chars)

    Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

18. 2022-08-23
    status Active 689-char remark

    Show marketing remark (689 chars)

    Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

19. 2022-06-28
    historical 689-char remark

    Show marketing remark (689 chars)

    Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

20. 2022-06-28
    listed $305,605 689-char remark

    Show marketing remark (689 chars)

    Under Construction-Under construction! Ready September 2022! The popular Carlyle is a great choice for those needing a first floor owner's suite. The hub of this home is the centrally-located family room that's open to the kitchen and a covered rear porch. Single-level living can be easily achieved here because everything is just steps away, but a flexible second floor provides two or three additional bedrooms with optional loft or media room, plus a second full bath. Some photos & videos shown are of previously built model homes and could feature elements that are different than what we offer today.Note: Photos are representations of similar models. Colors/finishes will vary.

21. 2022-02-11
    price $2,000
22. 2021-11-19
    soldstatus $168,000

ⓘ 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: $2,424 · $202/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $24,423
• − Mortgage interest: −$17,639
• − Property taxes: −$2,424
• − Insurance: −$1,574
• − Repairs & maintenance: −$1,954
• − Management: −$1,954
• − HOA: −$300
• − Depreciation: −$9,161
• Taxable loss: −$10,582
• Est. tax savings @ 24.0%: +$2,540
• After-tax cash flow: $-2,280/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 County
• NCES district ID: 0102220
• Math proficiency: 27% ▼ -32.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $66,058
• Composite: 37.15/100
• National rank: #4483
• State rank: #19 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

• City population: 220,435
• Population (ZIP): 13,977

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 (72%)
• Race & ethnicity: White 72% Black 17% Hispanic / Latino 7% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 149.14%
• Current HPI: 666.8602
• 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

+87.4% since first listed

10 events — show timeline

• 2026-06-16 Price Changed $314,900 VMLS
• 2026-05-27 Price Changed $324,900 VMLS
• 2026-05-19 Listed $334,000 VMLS
• 2022-09-27 Sold (MLS) $305,605 VMLS
• 2022-08-26 Pending — VMLS
• 2022-08-23 Relisted — VMLS
• 2022-06-28 Delisted — VMLS
• 2022-06-28 Listed $305,605 VMLS
• 2022-02-11 Price Changed $2,000 RENT.
• 2021-11-19 Sold (Public Records) $168,000 Public Records

Property tax history

-7.5%/yr

Latest (2024): $2,424 · -7.5% YoY. Source: county tax records.