The Butler V Plan · Athens, AL 35613

$236,900

3 bd · 2.0 ba · 1,299 sqft · SingleFamily · 243 Days on market

Excellent condition

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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 +7.2/30.0
• Condition / age +5.0/5.0
• Schools +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

"The Butler" is a gracefully designed 1,299 square foot floor plan, blending comfort with efficiency. Its open floor plan unites the living, dining, and kitchen areas, creating an inviting space ideal for family life and entertaining. The kitchen, modern and well-equipped, leads into a cozy breakfast room, suitable for everyday dining. The layout includes three bedrooms; the master bedroom features an en-suite bathroom for privacy and ease. The other two bedrooms, adaptable for various needs, share a second bathroom. A utility room adds to the home's practicality, offering laundry and storage solutions. Completing this home is the spacious 2-car garage and serene patio. "The Butler" is a fine example of a floor plan that meets modern living demands, providing a mix of open and private spaces in a modest yet elegant setting. * Attached photos may include upgrades and non-standard features.

Key facts

• Open floor plan
• Utility room
• Serene patio

Tags

• OPEN FLOOR PLAN
• COZY BREAKFAST ROOM
• EN-SUITE BATHROOM
• UTILITY ROOM
• SERENE PATIO

🏗️ New construction. The $236,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $249,916.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $237k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-345 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (26.2% below list).
• Recommended offer: $175k (26.2% below list) — sets the bar for 1% rule.
• Cap rate 4.6% 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.
• 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.
• Zoned schools: Piney Chapel Elementary School (math 27% / reading 57%, grade F, #213 of 627 statewide, top 37%, 203 students, 75% FRL) — zoned schools average 75% FRL vs 40% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1031 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $7k 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 243 days — a 12% lower offer ($208k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,924 (26.2% 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 243 days. Have you received any prior offers? Is the seller open to a 26% 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: 0.70% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (median comp): $249,916
• List price: $236,900
• Delta: -5.21%
• Verdict: FAIR
• Comps: 15 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20112 Hillsborough St	0.06mi	3/2.0	1,620 (+25%)	3mo	$250,000	$154	70
20109 Hillsborough St	0.06mi	3/2.0	1,484 (+14%)	6mo	$251,292	$169	69
1820 Lindsay Ln N	1.22mi	3/2.0	1,278 (-2%)	16mo	$217,000	$170	49
19576 Looney Rd	0.69mi	3/2.0	1,576 (+21%)	2mo	$286,000	$181	41
21125 Myrtlewood Dr	1.21mi	4/1.0 (+1)	1,390 (+7%)	8mo	$203,000	$146	38
23634 Miller Rd	1.22mi	3/1.0	1,067 (-18%)	2mo	$150,000	$141	34
21214 Myrtlewood Dr	1.26mi	3/1.0	1,152 (-11%)	11mo	$160,000	$139	33
20916 Yarbrough Rd	0.89mi	3/1.0	984 (-24%)	5mo	$175,000	$178	32
21233 Bean Rd	1.20mi	3/2.0	1,498 (+15%)	13mo	$220,000	$147	29
22074 Piney Chapel Rd	1.00mi	3/4.0	1,065 (-18%)	6mo	$218,500	$205	27
21317 Myrtlewood Dr	1.15mi	3/1.0	1,125 (-13%)	16mo	$170,000	$151	25
21319 Nelson Ln	1.19mi	2/1.0 (-1)	1,000 (-23%)	13mo	$195,000	$195	20

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: -26.4%
• Equity multiple: 0.11×
• Total profit: $-62,458
• Equity at exit: $37,263

10-year hold

• IRR: -23.6%
• Equity multiple: -0.18×
• Total profit: $-82,591
• Equity at exit: $21,608

Cash invested: $69,977 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 2 under contract
• Months of supply: 7.5 mo (13%/mo absorbed)
• Median asking: $248,900 ($168/sqft)
• Median days on market: 82 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +14.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 35613

• Home prices YoY: -33.9%
• Active inventory: 1031
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,749/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-345

Break-even live

Break-even rent $2,186

Max offer price $199,963

Occupancy floor —

Sensitivity live

Price	-10% $-173	-5% $-259	+0% $-345	+5% $-432	+10% $-518
Rent	-10% $-483	-5% $-414	+0% $-345	+5% $-276	+10% $-207
Rate	-1.0pp $-219	-0.5pp $-282	base $-345	+0.5pp $-410	+1.0pp $-476

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: $62,479
• Closing costs: $7,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19823 Shady Acres Cir Athens, AL	2.0	2.0	900	$1,250	$1.39	70d	1	0.91mi

Listing history 50 events

1. 2026-08-08
   days on market $236,900 Active 243 DOM
2. 2026-08-07
   days on market $236,900 Active 242 DOM
3. 2026-08-06
   days on market $236,900 Active 241 DOM
4. 2026-08-05
   days on market $236,900 Active 240 DOM
5. 2026-08-04
   days on market $236,900 Active 239 DOM
6. 2026-08-03
   days on market $236,900 Active 238 DOM
7. 2026-07-31
   days on market $236,900 Active 235 DOM
8. 2026-07-29
   days on market $236,900 Active 233 DOM
9. 2026-07-27
   days on market $236,900 Active 231 DOM
10. 2026-07-25
    days on market $236,900 Active 229 DOM
11. 2026-07-23
    days on market $236,900 Active 227 DOM
12. 2026-07-22
    days on market $236,900 Active 226 DOM
13. 2026-07-21
    days on market $236,900 Active 225 DOM
14. 2026-07-18
    days on market $236,900 Active 222 DOM
15. 2026-07-16
    days on market $236,900 Active 220 DOM
16. 2026-07-16
    days on market $236,900 Active 219 DOM
17. 2026-07-14
    days on market $236,900 Active 218 DOM
18. 2026-07-14
    days on market $236,900 Active 217 DOM
19. 2026-07-12
    days on market $236,900 Active 216 DOM
20. 2026-07-11
    days on market $236,900 Active 215 DOM
21. 2026-07-10
    days on market $236,900 Active 214 DOM
22. 2026-07-09
    days on market $236,900 Active 213 DOM
23. 2026-07-08
    days on market $236,900 Active 212 DOM
24. 2026-07-07
    days on market $236,900 Active 211 DOM
25. 2026-07-06
    days on market $236,900 Active 210 DOM
26. 2026-07-05
    days on market $236,900 Active 209 DOM
27. 2026-07-04
    days on market $236,900 Active 208 DOM
28. 2026-07-03
    days on market $236,900 Active 207 DOM
29. 2026-07-02
    days on market $236,900 Active 206 DOM
30. 2026-07-01
    days on market $236,900 Active 205 DOM
31. 2026-06-30
    days on market $236,900 Active 204 DOM
32. 2026-06-29
    days on market $236,900 Active 203 DOM
33. 2026-06-28
    days on market $236,900 Active 202 DOM
34. 2026-06-28
    days on market $236,900 Active 201 DOM
35. 2026-06-27
    days on market $236,900 Active 200 DOM
36. 2026-06-25
    days on market $236,900 Active 198 DOM
37. 2026-06-23
    days on market $236,900 Active 196 DOM
38. 2026-06-22
    days on market $236,900 Active 195 DOM
39. 2026-06-18
    days on market $236,900 Active 192 DOM
40. 2026-06-17
    days on market $236,900 Active 191 DOM
41. 2026-06-16
    days on market $236,900 Active 190 DOM
42. 2026-06-15
    days on market $236,900 Active 189 DOM
43. 2026-06-14
    days on market $236,900 Active 187 DOM
44. 2026-06-10
    days on market $236,900 Active 184 DOM
45. 2026-06-09
    days on market $236,900 Active 183 DOM
46. 2026-06-08
    days on market $236,900 Active 182 DOM
47. 2026-06-07
    days on market $236,900 Active 181 DOM
48. 2026-06-05
    days on market $236,900 Active 178 DOM
49. 2026-06-03
    days on market $236,900 Active 177 DOM
50. 2026-06-02
    days on market $236,900 Active 176 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 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: $20,991
• − Mortgage interest: −$13,999
• − Property taxes: −$3,749
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$7,270
• Taxable loss: −$8,635
• Est. tax savings @ 24.0%: +$2,073
• After-tax cash flow: $-2,070/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.

Condition & rehab AI · 2 photos

Excellent 100/100 None rehab

The Butler V Plan is a move-in-ready home with excellent condition and a well-maintained exterior and interior. Minor updates to the exterior and interior can further enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in kitchen and bathrooms — Improves functionality and aesthetics ↑
• Both New kitchen appliances — Enhances functionality and aesthetics ↑
• Both New lighting fixtures — Enhances functionality and aesthetics ↑

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Piney Chapel Elementary School F AL #213/627 Nat'l #17,861/41,679

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

B Composite livability gradescore 75/100

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 · 111,441 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: 1% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

1 event — show timeline

• 2025-12-08 Listed $236,900 Zillow