2940 Hood Rd Unit E · Huntsville, AL 35805

$60,000

2 bd · 1.0 ba · 631 sqft · Condo · 231 Days on market

Built 1982 Good condition $95/sqft · 17% below area Est $72k · 17% under $150/mo HOA · 16% of rent ↓ 18% since listing

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Why this score? — see what drove the B+ 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 +28.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.1/5.0
• Condition / age +3.8/5.0
• Rent growth +3.0/5.0
• Schools +2.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

Key facts

• End unit
• Plenty of parking
• Tile flooring

Tags

• SUPER CENTRAL LOCATION
• TILE FLOORING
• END UNIT
• DEDICATED DINING AREA
• PLENTY OF PARKING
• PRIVACY FENCED BACK PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• Huntsville City (urban): math 21% / reading 46% proficiency, ranked #48 of 129 in AL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 133 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 32% of the median local income ($35k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $17k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 231 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (24%) 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 $52,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 231 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. 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?
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 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: 1.59% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 5.3

CMA / ARV

• ARV (median comp): $71,924
• List price: $60,000
• Delta: -16.58%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 1.9%
• Equity multiple: 1.07×
• Total profit: $1,218
• Equity at exit: $8,946

10-year hold

• IRR: 10.1%
• Equity multiple: 1.74×
• Total profit: $12,406
• Equity at exit: $5,188

Cash invested: $16,800 (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 35805

• Home prices YoY: -17.4%
• Rents YoY: 1.8%
• Active inventory: 133
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $952 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$150
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $188

Break-even live

Break-even rent $715

Max offer price $60,000

Occupancy floor 75%

Sensitivity live

Price	-10% $229	-5% $208	+0% $188	+5% $167	+10% $146
Rent	-10% $112	-5% $150	+0% $188	+5% $225	+10% $263
Rate	-1.0pp $218	-0.5pp $203	base $188	+0.5pp $172	+1.0pp $156

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2940 Hood Rd SW Unit H Huntsville, AL	2.0	1.0	651	$825	$1.27	14d	1	0.02mi
3950 Knight Rd SW Unit 703 Huntsville, AL	1.0	1.0	700	$750	$1.07	44d	1	0.11mi
3007 Hood Rd SW Huntsville, AL	1.0–2.0	1.0	753	$950	$1.26	44d	4	0.12mi
3007 Hood Rd SW Unit 3007-12 Huntsville, AL	1.0	1.0	691	$850	$1.23	14d	1	0.12mi
4006 Knight Rd SW Huntsville, AL	2.0	1.0	650	$900	$1.38	44d	1	0.19mi
4008 Knight Rd SW Unit C Huntsville, AL	2.0	1.0	675	$925	$1.37	24d	1	0.20mi
2900 Elmore Rd SW Unit B Huntsville, AL	2.0	1.0	650	$875	$1.35	44d	1	0.21mi
3902 Cobb Rd Unit 102 A Huntsville, AL	1.0	1.0	685	$795	$1.16	44d	1	0.28mi
4401 Spartacus Dr SW Huntsville, AL	1.0–2.0	1.0–2.5	905	$1,275	$1.41	22d	1	0.29mi
3636 Chasewood Dr SW Huntsville, AL	1.0–2.0	1.0	665	$920	$1.38	44d	1	0.29mi
3902 Cobb Rd SW Huntsville, AL	1.0	1.0	684	$795	$1.16	14d	1	0.30mi
3813 Triana Blvd SW Huntsville, AL	1.0	1.0	685	$795	$1.16	44d	1	0.36mi
3801 SW Triana Blvd Unit 13 Huntsville, AL	1.0	1.0	450	$750	$1.67	14d	1	0.36mi
3801 SW Triana Blvd Unit 22 Huntsville, AL	1.0	1.0	450	$750	$1.67	44d	1	0.36mi
3801 SW Triana Blvd Ste 1 Huntsville, AL	1.0	1.0	450	$1,250	$2.78	44d	1	0.36mi
3801 SW Triana Blvd Unit 3 Huntsville, AL	1.0	1.0	450	$895	$1.99	44d	1	0.36mi
4110 Triana Blvd SW Huntsville, AL	1.0	1.0	750	$1,146	$1.53	14d	5	0.49mi
3209 Westheimer Dr SW Unit 06 Huntsville, AL	1.0	1.0	553	$810	$1.46	44d	1	0.83mi
2999 Woodway Dr SW Huntsville, AL	1.0–2.0	1.0	676	$915	$1.35	14d	1	0.87mi
3801 Thomas Rd SW Unit 3917-08 Huntsville, AL	1.0	1.0	550	$725	$1.32	44d	1	0.90mi
3801 Thomas Rd SW Unit 3917-05 Huntsville, AL	1.0	1.0	550	$725	$1.32	24d	1	0.90mi
3010 Clopton St SW Apt 35 Huntsville, AL	1.0	1.0	400	$850	$2.12	44d	1	0.90mi
4121 Newson Rd SW Apt B12 Huntsville, AL	2.0	1.0	750	$950	$1.27	14d	1	0.95mi
3815 Newson Rd SW Unit C05 Huntsville, AL	2.0	1.0	750	$850	$1.13	44d	1	0.99mi
4111 Newson Rd SW Unit 16 Huntsville, AL	1.0	1.0	450	$695	$1.54	44d	1	1.01mi
2321 Bob Wallace Ave SW Huntsville, AL	2.0	1.0	700	$1,350	$1.93	44d	1	1.04mi
4111 Newson Rd SW Huntsville, AL	1.0	1.0	475	$710	$1.49	24d	2	1.05mi
4111 Newson Rd SW Huntsville, AL	1.0–2.0	1.0–1.5	775	$800	$1.03	14d	2	1.05mi
4118 Newson Rd SW Huntsville, AL	2.0	1.0	650	$1,099	$1.69	14d	14	1.10mi
4009 Eunice St SW Huntsville, AL	1.0	1.0	550	$845	$1.54	44d	2	1.14mi
2610 Mirabeau Dr Huntsville, AL	2.0	1.0	715	$999	$1.40	22d	13	1.15mi
3909 Talwell Dr SW Unit 18 Huntsville, AL	1.0	1.0	700	$695	$0.99	44d	1	1.24mi
3915 Talwell Dr SW Unit 13 Huntsville, AL	1.0	1.0	700	$695	$0.99	24d	1	1.28mi
3913 Talwell Dr SW Unit 17 Huntsville, AL	1.0	1.0	700	$795	$1.14	22d	1	1.28mi
3702 Penny St SW Unit c Huntsville, AL	1.0	1.0	400	$665	$1.66	14d	1	1.28mi
4008 Penny St SW Unit a Huntsville, AL	2.0	1.0	720	$795	$1.10	44d	1	1.29mi
3913 Talwell Dr SW Unit 16 Huntsville, AL	1.0	1.0	700	$695	$0.99	44d	1	1.30mi
2500 9th Ave SW Huntsville, AL	2.0	1.0–2.0	841	$1,623	$1.93	14d	12	1.30mi
4200 Penny St SW Unit 35 Huntsville, AL	1.0	1.0	450	$600	$1.33	44d	1	1.30mi
3701 Squaw Valley Dr SW Unit D Huntsville, AL	1.0	1.0	600	$725	$1.21	24d	1	1.31mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $60,000 Active 231 DOM
2. 2026-06-17
   days on market $60,000 Active 230 DOM
3. 2026-06-16
   days on market $60,000 Active 229 DOM
4. 2026-06-15
   days on market $60,000 Active 228 DOM
5. 2026-06-14
   days on market $60,000 Active 226 DOM
6. 2026-06-10
   days on market $60,000 Active 223 DOM
7. 2026-06-09
   days on market $60,000 Active 222 DOM
8. 2026-06-08
   days on market $60,000 Active 221 DOM
9. 2026-06-07
   pricedays on market $60,000 Active 220 DOM
10. 2026-06-03
    days on market $65,000 Active 216 DOM
11. 2026-06-02
    days on market $65,000 Active 215 DOM
12. 2026-06-01
    days on market $65,000 Active 214 DOM
13. 2026-05-31
    days on market $65,000 Active 213 DOM
14. 2026-05-30
    days on market $65,000 Active 212 DOM
15. 2026-04-23
    price $65,000 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

16. 2026-04-03
    status Active 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

17. 2026-03-26
    historical Contingent 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

18. 2026-02-11
    price $69,000 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

19. 2025-12-26
    price $72,500 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

20. 2025-11-25
    price $75,000 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

21. 2025-11-13
    price $77,000 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard area.

22. 2025-10-29
    listed $79,000 Active 442-char remark

    Show marketing remark (442 chars)

    A great opportunity to own an easy to maintain property in a super central location in Huntsville! This adorable 2 bedroom condo is ready for its new owners. Move in ready with tile flooring throughout. End unit for added privacy! Spacious living room with dedicated dining area. Perfect for college students or those who commute into and out of town and need somewhere to call home! Plenty of parking and privacy fenced back patio/yard 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $11,427
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$914
• − Management: −$914
• − HOA: −$1,800
• − Depreciation: −$1,745
• Taxable income: $1,493
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $1,894/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 · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready 2-bedroom condo is in good condition with tile flooring and neutral paint. Minor updates to kitchen and bathroom would significantly enhance its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — dated cabinetry
• Minor bathroom fixtures — standard fixtures

Value-add opportunities

• Both update kitchen cabinets — modernizing kitchen
• Both update bathroom fixtures — enhancing bathroom appeal
• Both landscape exterior — improving curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated cabinetry	Minor	$500–3,000
bathroom fixtures · standard fixtures	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both update kitchen cabinets — modernizing kitchen ↑
• Both update bathroom fixtures — enhancing bathroom appeal ↑
• Both landscape exterior — improving curb appeal ↑

ⓘ 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: Huntsville City
• NCES district ID: 0101800
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $48,264
• Composite: 28.84/100
• National rank: #6647
• State rank: #48 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

• Census place: Huntsville, AL
• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 20,856
• Household income: $35,385
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1750.0

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 0.69)
• Race & ethnicity: White 40% Black 31% Hispanic / Latino 24% Two or more races 8%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Serbian 1%
• Foreign-born: 16% · Canada, Jamaica
• Languages at home: 76% English-only · Spanish 22% German/W. Germanic 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: ▼ -48.03%
• Current HPI: 228.6963
• Rent YoY: ▲ 1.82%
• 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

-17.7% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $65,000 VMLS
• 2026-04-03 Relisted — VMLS
• 2026-03-26 Contingent — VMLS
• 2026-02-11 Price Changed $69,000 VMLS
• 2025-12-26 Price Changed $72,500 VMLS
• 2025-11-25 Price Changed $75,000 VMLS
• 2025-11-13 Price Changed $77,000 VMLS
• 2025-10-29 Listed $79,000 VMLS