106 Madison Villas Way · Madison, AL 35758

$264,900

2 bd · 1.0 ba · 1,288 sqft · Condo public records · 51 Days on market

Built 2005 $206/sqft · 7% below area Est $301k · 12% under $286/mo HOA · 20% of rent

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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).

• ARV discount +12.9/15.0
• Appreciation +10.0/10.0
• Schools +5.6/10.0
• Livability +3.8/5.0
• Cash flow +3.7/30.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to easy living in the heart of Madison! This 2-bedroom, 2-bath condo offers low-maintenance living in a well-maintained community. Enjoy an open floor plan with spacious living and dining areas, plus a large kitchen with ample counter space and storage. New HVAC and water heater. Private patio and access to clubhouse and two pools. HOA covers lawn care, exterior maintenance, roof, water, sewer, trash, and pest control. Conveniently located near shopping, dining, and medical facilities.

Key facts

• $286 HOA
• Garage
• Listed 51 days

Property features AI

Finance

• HOA & community: HOA with monthly fee of $286; Located in The Villas At Madison subdivision

Exterior

• Parking: Detached one-car garage
• Utilities: Public sewer
• Home design: Condominium (Residential); Single-level entry
• Construction: Slab foundation
• Exterior features: Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central cooling
• Interior features: Gas log fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $265k.

Deal economics

• At list price, monthly cash flow is $-772 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (51.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (46.5% below list).
• Recommended offer: $128k (51.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 76/100 on livability (#12 in AL, #3,280 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F.
• Madison City (suburban): math 51% / reading 71% proficiency, ranked #4 of 129 in AL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Madison Elementary School (math 53% / reading 72%, grade B, #51 of 627 statewide, top 8%, 505 students, 27% FRL); Discovery Middle School (math 46% / reading 69%, grade B, #13 of 257 statewide, top 5%, 1,334 students, 25% FRL); Bob Jones High School (math 53% / reading 51%, grade D+, #11 of 305 statewide, top 4%, 1,920 students, 24% FRL).
• Market conditions: Rents rising (+1.6%/yr); 390 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent is only 14% of the median local income ($117k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,448 (51.5% 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 51 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 0.54% ✗
• Cap rate: 2.79%
• Cash-on-cash: -12.50%
• DSCR: 0.44
• GRM: 15.6

CMA / ARV

• ARV (median comp): $301,100
• List price: $264,900
• Delta: -12.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 15.3%
• Equity multiple: 2.26×
• Total profit: $93,137
• Equity at exit: $238,643

10-year hold

• IRR: 14.7%
• Equity multiple: 5.17×
• Total profit: $309,256
• Equity at exit: $514,642

Cash invested: $74,172 (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 35758

• Home prices YoY: 4.2%
• Rents YoY: 1.6%
• Active inventory: 390
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $1,418 high
• Mortgage (P&I): −$1,389
• Tax from tax record: −$107 /mo · $1,285/yr
• Insurance: −$110
• HOA: −$286
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-772

Break-even live

Break-even rent $2,396

Max offer price $128,448

Occupancy floor —

Sensitivity live

Price	-10% $-622	-5% $-697	+0% $-772	+5% $-847	+10% $-922
Rent	-10% $-884	-5% $-828	+0% $-772	+5% $-716	+10% $-660
Rate	-1.0pp $-639	-0.5pp $-705	base $-772	+0.5pp $-841	+1.0pp $-911

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Millstone Ln Madison, AL	3.0	2.0	1425	$2,000	$1.40	45d	1	0.46mi
210 Waters Edge Ln #6 Madison, AL	2.0	2.0	1060	$1,075	$1.01	45d	1	0.47mi
262 Waters Edge Ln Unit 262 Madison, AL	2.0	2.0	1055	$1,175	$1.11	45d	1	0.48mi
349 Waters Edge Ln Unit n/a Madison, AL	2.0	2.0	1055	$1,050	$1.00	45d	1	0.51mi
712 Marion Dr Madison, AL	3.0	1.0	1253	$1,450	$1.16	45d	1	0.64mi
106 Teal Park Ln Madison, AL	3.0	2.0	1707	$1,950	$1.14	16d	1	0.76mi
416 Walton Rd Madison, AL	3.0	2.0	1306	$1,795	$1.37	16d	1	0.82mi
127 Philadelphia Dr Madison, AL	3.0	2.0	1404	$1,650	$1.18	25d	1	0.83mi
180 Hughes Rd Madison, AL	1.0–4.0	1.0–3.5	1373	$1,824	$1.33	16d	45	0.84mi
109 Michael Ave Unit 106B Madison, AL	2.0	1.0	950	$1,199	$1.26	45d	1	0.86mi
109 Michael Ave Unit 112D Madison, AL	2.0	1.0	950	$1,199	$1.26	25d	1	0.86mi
114 Telluride Dr Madison, AL	3.0	2.0	1578	$1,795	$1.14	45d	1	0.89mi
104 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	45d	1	0.91mi
104 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	25d	1	0.91mi
104 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	16d	1	0.91mi
106 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	45d	1	0.92mi
105 Whisperbrook Cir Madison, AL	3.0	2.0	1608	$1,800	$1.12	25d	1	0.93mi
108 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	45d	1	0.93mi
110 Village Ln Madison, AL	2.0	2.0	960	$995	$1.04	45d	1	0.95mi
510 Clift Dr Madison, AL	3.0	2.0	1197	$1,600	$1.34	45d	1	0.95mi
5142 Wall Triana Hwy Madison, AL	2.0–3.0	1.0–1.5	1000	$1,025	$1.02	45d	2	0.97mi
113 Claytor Ln Madison, AL	3.0	2.0	1650	$1,795	$1.09	16d	1	1.02mi
134 Michli Rd Madison, AL	2.0	2.5	1564	$1,595	$1.02	45d	1	1.02mi
1110 Liberty Dr Unit 1110 Madison, AL	2.0	2.0	1100	$1,200	$1.09	25d	1	1.02mi
104 Kathy Cir Madison, AL	3.0	2.0	1768	$1,995	$1.13	45d	1	1.03mi
128 Michli Rd Madison, AL	2.0	3.0	1564	$1,550	$0.99	45d	1	1.04mi
425 Falls PT SW Unit 1 Madison, AL	3.0	3.0	1375	$1,615	$1.17	45d	1	1.06mi
1105 Woodbine Rd Madison, AL	3.0	1.5	1254	$1,500	$1.20	25d	1	1.06mi
139 Angela Dr Madison, AL	2.0	2.0	1160	$995	$0.86	16d	1	1.11mi
7584 Madison Pike Madison, AL	1.0–3.0	1.0–2.0	1023	$1,118	$1.09	16d	17	1.12mi
144 Angela Dr Unit C Madison, AL	2.0	2.0	923	$950	$1.03	25d	1	1.12mi
101 Springfield Ln Madison, AL	3.0	2.0	1640	$2,350	$1.43	45d	1	1.15mi
149 Angela Dr Unit D Madison, AL	2.0	2.0	1000	$1,100	$1.10	45d	1	1.17mi
102 McDermotts Way Madison, AL	3.0	2.0	1462	$1,675	$1.15	16d	1	1.23mi
90 High St Unit 100A Madison, AL	2.0	1.0	900	$995	$1.11	45d	1	1.23mi
4286 Sullivan St Madison, AL	3.0	2.0	1815	$2,100	$1.16	23d	1	1.24mi
137 Clover Ridge Dr Madison, AL	3.0	2.0	1860	$1,850	$0.99	16d	1	1.28mi
245 Pineridge Rd Madison, AL	3.0	2.0	1812	$2,000	$1.10	45d	1	1.37mi
109 DuPont Cir Madison, AL	3.0	2.0	1725	$1,895	$1.10	16d	1	1.43mi
7900 Old Madison Pike Madison, AL	2.0–4.0	1.0–2.5	1313	$1,164	$0.89	16d	11	1.47mi

HOA detail condo

• Monthly dues: $286 · $3,432/yr
• Likely covers: watersewertrashlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-22
   statusdays on market $264,900 Pending 51 DOM
2. 2026-06-18
   days on market $264,900 Active 50 DOM
3. 2026-06-17
   days on market $264,900 Active 49 DOM
4. 2026-06-16
   days on market $264,900 Active 48 DOM
5. 2026-06-15
   days on market $264,900 Active 47 DOM
6. 2026-06-14
   days on market $264,900 Active 45 DOM
7. 2026-06-10
   days on market $264,900 Active 42 DOM
8. 2026-06-09
   days on market $264,900 Active 41 DOM
9. 2026-06-08
   days on market $264,900 Active 40 DOM
10. 2026-06-07
    days on market $264,900 Active 39 DOM
11. 2026-06-03
    days on market $264,900 Active 35 DOM
12. 2026-06-02
    days on market $264,900 Active 34 DOM
13. 2026-06-01
    days on market $264,900 Active 33 DOM
14. 2026-05-31
    days on market $264,900 Active 32 DOM
15. 2026-05-30
    days on market $264,900 Active 31 DOM
16. 2026-04-29
    listed $264,900 Active 498-char remark
17. 2025-06-19
    listed $249,900 Active

ⓘ 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: $1,285 · $107/mo
• Projected year-2 tax: $1,285 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,016
• − Mortgage interest: −$14,839
• − Property taxes: −$1,285
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − HOA: −$3,432
• − Depreciation: −$7,706
• Taxable loss: −$14,293
• Est. tax savings @ 24.0%: +$3,430
• After-tax cash flow: $-5,839/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 City
• NCES district ID: 0100008
• Math proficiency: 51% ▼ -25.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $89,091
• Composite: 55.56/100
• National rank: #1238
• State rank: #4 of 129 in AL

Livability — Madison

• Score: 76/100
• State rank: #12
• US rank: #3280

Category grades

Amenities F Commute F Cost of living B Crime B+ Employment A+ Housing A+ Health & safety B- User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, AL
• County: Madison County · 380,832 people
• City population: 93,742
• Metro: Huntsville, AL
• Population (ZIP): 50,266
• Household income: $117,380
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 875.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Asian 7% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 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: ▲ 14.46%
• Current HPI: 355.2784
• Rent YoY: ▲ 1.58%
• 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

+6.0% since first listed

2 events — show timeline

• 2026-04-29 Listed $264,900 VMLS
• 2025-06-19 Listed $249,900 VMLS

Property tax history

+6.9%/yr

Latest (2024): $1,285 · +10.3% YoY. Source: county tax records.