Raymond IV G Plan · Athens, AL 35613

$261,990

3 bd · 2.0 ba · 1,517 sqft · SingleFamily · 365 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).

• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

- Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

Key facts

• Open floor plan
• Covered rear patio
• Double master vanity

Tags

• OPEN FLOOR PLAN
• BRICK & SIDING EXTERIOR
• DOUBLE MASTER VANITY
• WALK-IN MASTER CLOSET
• COVERED REAR PATIO

🏗️ New construction. The $261,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $323,636.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $262k.

Deal economics

• At list price, monthly cash flow is $-616 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (21.7% below list).
• Recommended offer: $205k (21.7% below list) — sets the bar for 1% rule.

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.
• Limestone County (rural): math 21% / reading 44% proficiency, ranked #52 of 129 in AL (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 806 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 365 days — a 12% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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.

Recommended offer $205,100 (21.7% 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 365 days. Have you received any prior offers? Is the seller open to a 22% 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. 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: 0.63% ✗
• Cap rate: 4.01%
• Cash-on-cash: -8.16%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (median comp): $323,636
• List price: $261,990
• Delta: -19.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16714 Ted Childs Dr	0.26mi	3/2.0	1,495 (-2%)	1mo	$269,231	$180	85
16683 Ted Childs Dr	0.29mi	3/2.0	1,528 (+1%)	3mo	$268,055	$175	83
16703 Ted Childs Dr	0.27mi	3/2.0	1,569 (+3%)	1mo	$273,020	$174	80
16675 Ted Childs Dr	0.30mi	3/2.0	1,495 (-2%)	5mo	$264,038	$177	80
16686 Ted Childs Dr	0.29mi	3/2.0	1,569 (+3%)	2mo	$278,330	$177	79
16577 Ted Childs Dr	0.39mi	3/2.0	1,517 (0%)	7mo	$271,917	$179	76
16585 Ted Childs Dr	0.39mi	3/2.0	1,569 (+3%)	6mo	$277,939	$177	71
16695 Ted Childs Dr	0.28mi	3/2.0	1,375 (-9%)	3mo	$252,235	$183	69
17687 Cabernet St	0.75mi	3/2.0	1,517 (0%)	5mo	$271,990	$179	61
16593 Ted Childs Dr	0.39mi	3/2.0	1,660 (+9%)	6mo	$280,305	$169	61
16724 Sandy Ln	0.61mi	3/2.0	1,400 (-8%)	2mo	$259,900	$186	57
17656 Cabernet St	0.71mi	4/2.0 (+1)	1,590 (+5%)	6mo	$276,990	$174	49

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: -30.6%
• Equity multiple: -0.01×
• Total profit: $-91,664
• Equity at exit: $48,255

10-year hold

• IRR: -33.0%
• Equity multiple: -0.44×
• Total profit: $-130,236
• Equity at exit: $27,982

Cash invested: $90,618 (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: 806
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$1,697
• Tax est. 1.5%: −$405 /mo · $4,855/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-616

Break-even live

Break-even rent $2,831

Max offer price $234,458

Occupancy floor —

Sensitivity live

Price	-10% $-393	-5% $-504	+0% $-616	+5% $-728	+10% $-840
Rent	-10% $-778	-5% $-697	+0% $-616	+5% $-535	+10% $-454
Rate	-1.0pp $-453	-0.5pp $-534	base $-616	+0.5pp $-700	+1.0pp $-785

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: $80,909
• Closing costs: $9,709
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26333 Kennesaw Bluff Dr Athens, AL	3.0	2.0	1745	$2,000	$1.15	24d	1	0.13mi
16702 Ted Childs Dr Athens, AL	3.0	2.0	1848	$1,950	$1.06	14d	1	0.30mi
16656 Bellewood Dr Athens, AL	3.0	2.0	1830	$1,900	$1.04	44d	1	0.43mi
26491 Riparian Dr Athens, AL	3.0	2.0	1497	$2,200	$1.47	14d	1	0.87mi
26950 Pepper Rd Unit B Athens, AL	2.0	1.0	1050	$1,400	$1.33	44d	1	1.34mi

Listing history 18 events

1. 2026-06-18
   days on market $261,990 Active 365 DOM
2. 2026-06-17
   days on market $261,990 Active 364 DOM
3. 2026-06-16
   days on market $261,990 Active 363 DOM
4. 2026-06-15
   days on market $261,990 Active 362 DOM
5. 2026-06-14
   days on market $261,990 Active 360 DOM
6. 2026-06-10
   days on market $261,990 Active 357 DOM
7. 2026-06-09
   days on market $261,990 Active 356 DOM
8. 2026-06-08
   days on market $261,990 Active 355 DOM
9. 2026-06-07
   days on market $261,990 Active 354 DOM
10. 2026-06-05
    days on market $261,990 Active 351 DOM
11. 2026-06-03
    days on market $261,990 Active 350 DOM
12. 2026-06-02
    days on market $261,990 Active 349 DOM
13. 2026-06-01
    days on market $261,990 Active 348 DOM
14. 2026-05-31
    days on market $261,990 Active 347 DOM
15. 2026-05-30
    days on market $261,990 Active 346 DOM
16. 2025-12-18
    status Active 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

17. 2025-01-30
    historical 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

18. 2024-07-30
    listed $261,990 Active 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

ⓘ 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: $24,612
• − Mortgage interest: −$18,129
• − Property taxes: −$4,855
• − Insurance: −$1,618
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$9,415
• Taxable loss: −$13,342
• Est. tax savings @ 24.0%: +$3,202
• After-tax cash flow: $-4,193/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: Limestone County
• NCES district ID: 0102100
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $48,972
• Composite: 28.09/100
• National rank: #6829
• State rank: #52 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

• 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

3 events — show timeline

• 2025-12-18 Relisted — Zillow
• 2025-01-30 Delisted — Zillow
• 2024-07-30 Listed $261,990 Zillow