389 Cherry St NW · Hartselle, AL 35640

$190,000

2 bd · 1.0 ba · 1,277 sqft · Townhouse public records · 32 Days on market

Built 1995 Est $186k · at est.

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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 +13.0/30.0
• ARV discount +6.6/15.0
• Schools +4.5/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautiful and inviting townhouse in Hartselle located in the highly sought-after Hartselle City Schools district. This charming home features a cozy fireplace in the living room, crown molding throughout, and durable LVP flooring throughout. The kitchen offers tile flooring with a stylish tile backsplash for a clean, updated feel. The one-car garage features a pull-down screen, easily transforming the space into a private screened patio—perfect for relaxing, entertaining, or enjoying your morning coffee. Offering comfort, charm, and low-maintenance living, this townhouse is move-in ready and conveniently located near shopping, dining, and everyday amenities.

Key facts

• Built 1995
• Listed 32 days

Property features AI

Finance

• Other: Directions: From Interstate 65, take Exit 328 toward Hartselle, follow Highway 36/Main Street west into town, turn right onto Cherry Street NW; 389 Cherry Street NW will be on the left.
• HOA & community: No homeowners association; Subdivision: Cherry Street Townhome

Exterior

• Parking: Attached carport
• Utilities: Public water; Public sewer; Electric heating and cooling (central)
• Home design: Residential townhouse; Built in 1995; Living area approximately 1,394 (square feet)
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio

Interior

• Bedrooms: Total of 9 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Gas log fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $-9 ($-110/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (0.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (26.4% below list).
• Recommended offer: $140k (26.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Crestline Elementary School (math 32% / reading 57%, grade F, #171 of 627 statewide, top 31%, 550 students, 49% FRL); Hartselle Junior High School (math 33% / reading 63%, grade C-, #29 of 257 statewide, top 12%, 527 students, 38% FRL); Hartselle High School (math 44% / reading 48%, grade D-, #18 of 305 statewide, top 6%, 1,031 students, 34% FRL) — zoned schools average 40% FRL vs 25% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 193 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; 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 $1k of loan paydown is wiped out by about $6k 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 32 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; list at $190k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,760 (26.4% 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 32 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.74% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.21%
• DSCR: 0.99
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $186,442
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
375 Cherry St	0.03mi	2/2.0	1,300 (+2%)	5mo	$188,000	$145	88
427 Cherry St	0.06mi	2/2.0	1,225 (-4%)	2mo	$178,000	$145	85
373 Cherry St	0.04mi	2/2.0	1,160 (-9%)	7mo	$169,900	$146	73
371 Cherry St	0.04mi	2/2.0	1,375 (+8%)	22mo	$197,000	$143	63
759 SW Pattillo St	0.75mi	2/2.0	1,240 (-3%)	18mo	$220,000	$177	41
751 Pattillo St SW	0.73mi	2/2.0	1,382 (+8%)	11mo	$240,000	$174	39

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-31,472
• Equity at exit: $28,330

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-28,567
• Equity at exit: $16,428

Cash invested: $53,200 (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: 11.3×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$38 /mo · $452/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $-9

Break-even live

Break-even rent $1,409

Max offer price $188,386

Occupancy floor 96%

Sensitivity live

Price	-10% $98	-5% $45	+0% $-9	+5% $-63	+10% $-117
Rent	-10% $-120	-5% $-64	+0% $-9	+5% $46	+10% $101
Rate	-1.0pp $87	-0.5pp $39	base $-9	+0.5pp $-58	+1.0pp $-108

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Crestline Dr SW Hartselle, AL	3.0	2.0	1420	$1,500	$1.06	15d	1	0.36mi
710 Midway St NW Hartselle, AL	2.0	2.0	943	$1,124	$1.19	45d	1	0.78mi
726 Larkwood Cir SW Hartselle, AL	3.0	2.0	1257	$1,400	$1.11	45d	1	0.84mi
506 Hickory St SE Unit B Hartselle, AL	3.0	2.0	1462	$1,400	$0.96	25d	1	1.42mi

Listing history 19 events

1. 2026-06-21
   status $190,000 Pending 32 DOM
2. 2026-06-19
   days on market $190,000 Active 32 DOM
3. 2026-06-18
   days on market $190,000 Active 31 DOM
4. 2026-06-17
   days on market $190,000 Active 30 DOM
5. 2026-06-16
   days on market $190,000 Active 29 DOM
6. 2026-06-15
   days on market $190,000 Active 28 DOM
7. 2026-06-14
   days on market $190,000 Active 26 DOM
8. 2026-06-12
   days on market $190,000 Active 25 DOM
9. 2026-06-09
   days on market $190,000 Active 22 DOM
10. 2026-06-08
    days on market $190,000 Active 21 DOM
11. 2026-06-07
    days on market $190,000 Active 20 DOM
12. 2026-06-07
    days on market $190,000 Active 19 DOM
13. 2026-06-04
    days on market $190,000 Active 16 DOM
14. 2026-06-02
    days on market $190,000 Active 15 DOM
15. 2026-06-01
    days on market $190,000 Active 14 DOM
16. 2026-05-31
    days on market $190,000 Active 13 DOM
17. 2026-05-31
    days on market $190,000 Active 12 DOM
18. 2026-05-18
    listed $190,000 Active
19. 2005-10-27
    soldstatus $78,000

ⓘ 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: $452 · $38/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$327/yr (+$27/mo · 72.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $16,771
• − Mortgage interest: −$10,643
• − Property taxes: −$452
• − Insurance: −$950
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$5,527
• Taxable loss: −$3,485
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $727/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

+143.6% since first listed

3 events — show timeline

• 2026-06-20 Pending — VMLS
• 2026-05-18 Listed $190,000 VMLS
• 2005-10-27 Sold (Public Records) $78,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $452 · +11.8% YoY. Source: county tax records.