789 Plummer Rd · Huntsville, AL 35806

$305,000

2 bd · 1.0 ba · 2,760 sqft · MultiFamily public records · 616 Days on market

Built 1970 1.01 ac lot $111/sqft · 31% below area Est $439k · 31% under ↓ 36% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

PRICE REDUCED!!! An investors goldmine. Wonderful opportunity to be a part of a fast growing area in Huntsville near Mid-City and Redstone Arsenal. Convenient access to Research Boulevard. Excellent investment opportunity with ~ one acre. Plenty of room to redevelop or rebuild. All information TBV. Property sold AS-IS

Key facts

• Over one acre
• 1.01 acre lot
• Built 1970

Tags

• FIXER-UPPER IN GROWING AREA
• NEAR RECENT DEVELOPMENTS
• OVER ONE ACRE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $305k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $305k).
• Recommended offer: $268k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 3.8% in Huntsville — 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 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.
• Market conditions: Rents rising (+2.6%/yr); 213 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• At $4,237/mo this rent would consume 59% of the median local household income ($87k/yr) (locally 1249% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $33k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.6% rent growth), your $85k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 616 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $170k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $268,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 616 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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 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: 1.39% ✓
• Cap rate: 12.27%
• Cash-on-cash: 21.35%
• DSCR: 1.95
• GRM: 6.0

CMA / ARV

• ARV (median comp): $439,348
• List price: $305,000
• Delta: -30.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 2.57% rent growth · sell at horizon

5-year hold

• IRR: 40.0%
• Equity multiple: 4.06×
• Total profit: $260,969
• Equity at exit: $274,768

10-year hold

• IRR: 34.3%
• Equity multiple: 9.06×
• Total profit: $688,539
• Equity at exit: $592,548

Cash invested: $85,400 (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 35806

• Home prices YoY: 20.0%
• Rents YoY: 2.6%
• Active inventory: 213
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $4,237 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$101 /mo · $1,212/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$890
• Net cashflow: $1,520

Break-even live

Break-even rent $2,313

Max offer price $305,000

Occupancy floor 59%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,236
Total (3 units)			$4,237

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1589 Old Monrovia Rd NW Huntsville, AL	2.0–3.0	2.5–3.5	1657	$1,899	$1.15	13d	17	1.04mi
8223 Stone Mill Dr NW Huntsville, AL	3.0	2.5	2046	$2,300	$1.12	43d	1	1.29mi

Listing history 17 events

1. 2026-06-18
   days on market $305,000 Active 616 DOM
2. 2026-06-17
   days on market $305,000 Active 615 DOM
3. 2026-06-16
   days on market $305,000 Active 614 DOM
4. 2026-06-15
   days on market $305,000 Active 613 DOM
5. 2026-06-14
   days on market $305,000 Active 611 DOM
6. 2026-06-10
   days on market $305,000 Active 608 DOM
7. 2026-06-09
   days on market $305,000 Active 607 DOM
8. 2026-06-08
   days on market $305,000 Active 606 DOM
9. 2026-06-07
   days on market $305,000 Active 605 DOM
10. 2026-06-02
    days on market $305,000 Active 600 DOM
11. 2026-06-01
    days on market $305,000 Active 599 DOM
12. 2026-05-31
    days on market $305,000 Active 598 DOM
13. 2026-05-30
    days on market $305,000 Active 597 DOM
14. 2025-05-01
    status Active 319-char remark

    Show marketing remark (319 chars)

    PRICE REDUCED!!! An investors goldmine. Wonderful opportunity to be a part of a fast growing area in Huntsville near Mid-City and Redstone Arsenal. Convenient access to Research Boulevard. Excellent investment opportunity with ~ one acre. Plenty of room to redevelop or rebuild. All information TBV. Property sold AS-IS

15. 2025-05-01
    price $305,000 319-char remark

    Show marketing remark (319 chars)

    PRICE REDUCED!!! An investors goldmine. Wonderful opportunity to be a part of a fast growing area in Huntsville near Mid-City and Redstone Arsenal. Convenient access to Research Boulevard. Excellent investment opportunity with ~ one acre. Plenty of room to redevelop or rebuild. All information TBV. Property sold AS-IS

16. 2025-04-30
    historical 319-char remark

    Show marketing remark (319 chars)

    PRICE REDUCED!!! An investors goldmine. Wonderful opportunity to be a part of a fast growing area in Huntsville near Mid-City and Redstone Arsenal. Convenient access to Research Boulevard. Excellent investment opportunity with ~ one acre. Plenty of room to redevelop or rebuild. All information TBV. Property sold AS-IS

17. 2024-10-08
    listed $475,000 Active 319-char remark

    Show marketing remark (319 chars)

    PRICE REDUCED!!! An investors goldmine. Wonderful opportunity to be a part of a fast growing area in Huntsville near Mid-City and Redstone Arsenal. Convenient access to Research Boulevard. Excellent investment opportunity with ~ one acre. Plenty of room to redevelop or rebuild. All information TBV. Property sold AS-IS

ⓘ 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: $1,212 · $101/mo
• Projected year-2 tax: $1,250 · $104/mo
• Expected delta: +$39/yr (+$3/mo · 3.2%)

ⓘ 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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $50,844
• − Mortgage interest: −$17,085
• − Property taxes: −$1,212
• − Insurance: −$1,525
• − Repairs & maintenance: −$4,068
• − Management: −$4,068
• − Depreciation: −$8,873
• Taxable income: $14,015
• Est. tax owed @ 24.0%: −$3,364
• After-tax cash flow: $14,873/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

• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 29,161
• Household income: $86,768
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 1249.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 58% Black 30% Hispanic / Latino 5% Two or more races 5% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Slovak 2% Italian 2% Serbian 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 1%

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: ▲ 71.67%
• Current HPI: 430.5866
• Rent YoY: ▲ 2.57%
• 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

-35.8% since first listed

4 events — show timeline

• 2025-05-01 Relisted — VMLS
• 2025-05-01 Price Changed $305,000 VMLS
• 2025-04-30 Delisted — VMLS
• 2024-10-08 Listed $475,000 VMLS

Property tax history

+4.4%/yr

Latest (2024): $1,212 · +2.3% YoY. Source: county tax records.