The Franklin Plan · Meridianville, AL 35773

$269,900

3 bd · 2.0 ba · 1,620 sqft · SingleFamily · 312 Days on market

$12/mo HOA · 1% 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.8/30.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.2/10.0
• DSCR +0.1/10.0

Listing remarks MLS

Within this cozy, one-level home lies a modern use of space. From the kitchen's large island to the family room's spacious open-concept, you're surrounded by owner-centric design. The oversized, two-car garage gives you extra storage space, and the large, covered back porch encourages you to sit down, kick your feet up, and enjoy the breeze. Back inside, the isolated Master Suite features a beautiful bathroom layout - complete with a large walk-in closet. Make it your own with The Franklin's flexible floor plan, featuring an alternative Master Bath layout and extra storage space. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. Explore the Matterport tour HERE. * Attached photos may include upgrades and non-standard features.

Key facts

• Open-concept
• Walk-in closet
• Flexible floor plan

Tags

• LARGE ISLAND
• OPEN-CONCEPT
• COVERED BACK PORCH
• ISOLATED MASTER SUITE
• WALK-IN CLOSET
• FLEXIBLE FLOOR PLAN

🏗️ New construction. The $269,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $287,648.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-581 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (24.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (33.5% below list).
• Recommended offer: $180k (33.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#118 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety 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: 319 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 ~$49k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 312 days — a 12% lower offer ($238k) 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.

Recommended offer $179,575 (33.5% 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 312 days. Have you received any prior offers? Is the seller open to a 33% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.62% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.66%
• DSCR: 0.61
• GRM: 13.3

CMA / ARV

• ARV (median comp): $287,648
• List price: $269,900
• Delta: -6.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
109 Ocean Springs Ave	0.10mi	3/2.0	1,630 (+1%)	3mo	$265,000	$163	92
301 Cherokee Glen Ave	0.04mi	3/2.0	1,620 (0%)	15mo	$300,000	$185	86
118 Cedar Lake Rd	0.02mi	3/2.0	1,620 (0%)	16mo	$279,900	$173	85
216 Pine Island Ave	0.10mi	3/2.0	1,620 (0%)	13mo	$288,107	$178	85
204 Pine Island Ave	0.03mi	3/2.0	1,620 (0%)	17mo	$267,900	$165	84
206 Pine Island Ave	0.04mi	3/2.0	1,484 (-8%)	3mo	$259,900	$175	81
223 Pine Island Ave	0.10mi	3/2.0	1,484 (-8%)	1mo	$259,900	$175	80
100 Ocean Springs Ave	0.05mi	4/2.0 (+1)	1,748 (+8%)	1mo	$280,000	$160	79
313 Cherokee Glen Ave	0.08mi	3/2.0	1,484 (-8%)	6mo	$259,900	$175	77
106 Cedar Lake Rd Unit N/A	0.07mi	4/2.0 (+1)	1,748 (+8%)	2mo	$281,000	$161	77
310 Cherokee Glen Ave	0.09mi	3/2.0	1,484 (-8%)	9mo	$259,000	$175	74
122 Cedar Lake Rd	0.03mi	3/2.0	1,484 (-8%)	20mo	$260,000	$175	68

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 2.49×
• Total profit: $119,676
• Equity at exit: $259,136

10-year hold

• IRR: 17.0%
• Equity multiple: 5.74×
• Total profit: $381,607
• Equity at exit: $558,837

Cash invested: $80,542 (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 35773

• Home prices YoY: 28.8%
• Active inventory: 319
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$1,508
• Tax est. 1.5%: −$360 /mo · $4,315/yr
• Insurance: −$120
• HOA: −$12
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $-581

Break-even live

Break-even rent $2,531

Max offer price $203,543

Occupancy floor —

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: $71,912
• Closing costs: $8,629
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Ocean Springs Ave Toney, AL	4.0	2.0	1748	$1,850	$1.06	44d	1	0.11mi
136 Ocean Springs Ave Toney, AL	4.0	2.0	1749	$1,775	$1.01	44d	1	0.21mi
109 Cottondale Rd Toney, AL	3.0	2.0	1280	$1,101	$0.86	44d	1	0.36mi
217 Buddy Tate Ln Meridianville, AL	2.0	2.0	1800	$2,400	$1.33	44d	1	0.46mi
121 Balboa Rd Meridianville, AL	4.0	2.0	1863	$1,800	$0.97	44d	1	1.49mi

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 16 events

1. 2026-06-18
   days on market $269,900 Active 312 DOM
2. 2026-06-17
   days on market $269,900 Active 311 DOM
3. 2026-06-16
   days on market $269,900 Active 310 DOM
4. 2026-06-15
   days on market $269,900 Active 309 DOM
5. 2026-06-14
   days on market $269,900 Active 307 DOM
6. 2026-06-10
   days on market $269,900 Active 304 DOM
7. 2026-06-09
   days on market $269,900 Active 303 DOM
8. 2026-06-08
   days on market $269,900 Active 302 DOM
9. 2026-06-07
   days on market $269,900 Active 301 DOM
10. 2026-06-02
    days on market $269,900 Active 296 DOM
11. 2026-06-01
    days on market $269,900 Active 295 DOM
12. 2026-05-31
    days on market $269,900 Active 294 DOM
13. 2026-05-30
    days on market $269,900 Active 293 DOM
14. 2026-05-19
    status Active 818-char remark

    Show marketing remark (818 chars)

    Within this cozy, one-level home lies a modern use of space. From the kitchen's large island to the family room's spacious open-concept, you're surrounded by owner-centric design. The oversized, two-car garage gives you extra storage space, and the large, covered back porch encourages you to sit down, kick your feet up, and enjoy the breeze. Back inside, the isolated Master Suite features a beautiful bathroom layout - complete with a large walk-in closet. Make it your own with The Franklin's flexible floor plan, featuring an alternative Master Bath layout and extra storage space. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. Explore the Matterport tour HERE. * Attached photos may include upgrades and non-standard features.

15. 2025-12-19
    historical 818-char remark

    Show marketing remark (818 chars)

    Within this cozy, one-level home lies a modern use of space. From the kitchen's large island to the family room's spacious open-concept, you're surrounded by owner-centric design. The oversized, two-car garage gives you extra storage space, and the large, covered back porch encourages you to sit down, kick your feet up, and enjoy the breeze. Back inside, the isolated Master Suite features a beautiful bathroom layout - complete with a large walk-in closet. Make it your own with The Franklin's flexible floor plan, featuring an alternative Master Bath layout and extra storage space. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. Explore the Matterport tour HERE. * Attached photos may include upgrades and non-standard features.

16. 2025-03-13
    listed $269,900 Active 818-char remark

    Show marketing remark (818 chars)

    Within this cozy, one-level home lies a modern use of space. From the kitchen's large island to the family room's spacious open-concept, you're surrounded by owner-centric design. The oversized, two-car garage gives you extra storage space, and the large, covered back porch encourages you to sit down, kick your feet up, and enjoy the breeze. Back inside, the isolated Master Suite features a beautiful bathroom layout - complete with a large walk-in closet. Make it your own with The Franklin's flexible floor plan, featuring an alternative Master Bath layout and extra storage space. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. Explore the Matterport tour HERE. * Attached photos may include upgrades and non-standard features.

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

Taxation est. · year 1

• Rental income: $21,549
• − Mortgage interest: −$16,113
• − Property taxes: −$4,315
• − Insurance: −$1,438
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − HOA: −$144
• − Depreciation: −$8,368
• Taxable loss: −$12,277
• Est. tax savings @ 24.0%: +$2,946
• After-tax cash flow: $-4,028/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 — Meridianville

• Score: 65/100
• State rank: #118
• US rank: #12516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,103
• Population (ZIP): 13,977

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 (72%)
• Race & ethnicity: White 72% Black 17% Hispanic / Latino 7% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 149.14%
• Current HPI: 666.8602
• 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

3 events — show timeline

• 2026-05-19 Relisted — Zillow
• 2025-12-19 Delisted — Zillow
• 2025-03-13 Listed $269,900 Zillow