6038 Norris Mill Rd · Hartselle, AL 35640

$154,900

3 bd · 1.0 ba · 1,090 sqft · SingleFamily · 73 Days on market

Built 1950 Fair condition 0.44 ac lot $142/sqft · 9% below area Est $171k · 9% under

---

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 +13.2/30.0
• ARV discount +11.7/15.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming opportunity in Oak Ridge in Hartselle with solid bones and great potential. This 3 bedroom 1 bath home offers approximately 1100 square feet with a functional layout and durable flooring throughout. Recent roof adds peace of mind while natural gas heat provides efficient warmth. Home will need cosmetic updates and electrical upgrades for VA or FHA financing and does not currently have central air. Ideal for conventional or cash buyers ready to add value and make it their own. Great chance to build equity in a growing area.

Key facts

• 0.44 acre lot
• Parking
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-2 ($-24/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (12.7% below list).
• Recommended offer: $135k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Morgan County (rural): math 19% / reading 43% proficiency, ranked #61 of 129 in AL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Danvilleneel Elementary School (math 32% / reading 52%, grade F, #213 of 627 statewide, top 37%, 524 students, 58% FRL); Danville Middle School (math 5% / reading 31%, grade F, #197 of 257 statewide, top 77%, 377 students, 62% FRL); Danville High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 355 students, 53% FRL).
• Market conditions: 193 active listings in the ZIP; 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 $5k 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 73 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,252 (12.7% 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 73 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (median comp): $170,884
• List price: $154,900
• Delta: -9.35%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6030 Norris Mill Rd	0.04mi	2/2.0 (-1)	1,180 (+8%)	9mo	$147,700	$125	68
2337 Vaughn Bridge Rd	0.70mi	3/1.0	1,027 (-6%)	5mo	$160,000	$156	54
2856 Vaughn Bridge Rd	0.73mi	3/1.0	1,100 (+1%)	20mo	$200,000	$182	48

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-25,207
• Equity at exit: $23,096

10-year hold

• IRR: -8.1%
• Equity multiple: 0.49×
• Total profit: $-22,030
• Equity at exit: $13,393

Cash invested: $43,372 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,353 medium
• Mortgage (P&I): −$812
• Tax est. 1.5%: −$194 /mo · $2,324/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $-2

Break-even live

Break-even rent $1,355

Max offer price $154,612

Occupancy floor 95%

Sensitivity live

Price	-10% $105	-5% $52	+0% $-2	+5% $-56	+10% $-109
Rent	-10% $-109	-5% $-55	+0% $-2	+5% $51	+10% $105
Rate	-1.0pp $76	-0.5pp $37	base $-2	+0.5pp $-42	+1.0pp $-83

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-21
   days on market $154,900 Active 73 DOM
2. 2026-06-18
   days on market $154,900 Active 70 DOM
3. 2026-06-17
   days on market $154,900 Active 69 DOM
4. 2026-06-16
   days on market $154,900 Active 68 DOM
5. 2026-06-15
   remarks 557-char remark
6. 2026-06-15
   days on market $154,900 Active 67 DOM
7. 2026-06-14
   days on market $154,900 Active 65 DOM
8. 2026-06-13
   days on market $154,900 Active 64 DOM
9. 2026-06-10
   days on market $154,900 Active 62 DOM
10. 2026-06-09
    days on market $154,900 Active 61 DOM
11. 2026-06-08
    days on market $154,900 Active 60 DOM
12. 2026-06-07
    pricedays on market $154,900 Active 59 DOM
13. 2026-06-02
    days on market $159,000 Active 54 DOM
14. 2026-06-01
    days on market $159,000 Active 53 DOM
15. 2026-05-31
    days on market $159,000 Active 52 DOM
16. 2026-05-30
    days on market $159,000 Active 51 DOM
17. 2026-04-09
    listed $159,000 Active 537-char remark

    Show marketing remark (537 chars)

    Charming opportunity in Oak Ridge in Hartselle with solid bones and great potential. This 3 bedroom 1 bath home offers approximately 1100 square feet with a functional layout and durable flooring throughout. Recent roof adds peace of mind while natural gas heat provides efficient warmth. Home will need cosmetic updates and electrical upgrades for VA or FHA financing and does not currently have central air. Ideal for conventional or cash buyers ready to add value and make it their own. Great chance to build equity in a growing area.

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $16,230
• − Mortgage interest: −$8,677
• − Property taxes: −$2,324
• − Insurance: −$774
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$4,506
• Taxable loss: −$2,648
• Est. tax savings @ 24.0%: +$635
• After-tax cash flow: $612/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 · 13 photos

Fair 45/100 Moderate rehab

This home has solid bones with potential for moderate updates to increase its value. The kitchen and bathroom need significant updates, while the exterior and landscaping can be improved with minor work.

Repairs flagged

• Moderate kitchen cabinets — Worn and dated appearance
• Moderate bathroom fixtures — Dated appearance
• Minor landscaping — Some overgrowth

Value-add opportunities

• Resale New kitchen cabinets and countertops — Modernizes kitchen and increases appeal
• Resale New bathroom fixtures — Enhances bathroom functionality and appeal
• Both Landscaping improvements — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Worn and dated appearance	Moderate	$3,000–15,000
bathroom fixtures · Dated appearance	Moderate	$3,000–15,000
landscaping · Some overgrowth	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale New kitchen cabinets and countertops — Modernizes kitchen and increases appeal ↑
• Resale New bathroom fixtures — Enhances bathroom functionality and appeal ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Morgan County
• NCES district ID: 0102480
• Math proficiency: 19% ▼ -28.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $47,362
• Composite: 26.68/100
• National rank: #7157
• State rank: #61 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

• 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

1 event — show timeline

• 2026-04-09 Listed $159,000 VMLS