2227 Harris Wright Dr · Highland Lakes, AL 35242

$289,000

3 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 802 Days on market

Built 1980 7.23 ac lot $136/sqft · 49% below area Est $476k · 39% under ↓ 17% since listing

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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 +15.0/15.0
• Cash flow +10.7/30.0
• Schools +3.9/10.0
• DSCR +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

Key facts

• Privacy and nature
• 8.23 acres of land
• Great school system

Tags

• 8.23 ACRES OF LAND
• PRIVACY AND NATURE
• GREAT SCHOOL SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (29.0% below list).
• Recommended offer: $205k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 2.1% in Highland Lakes — 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 62/100 on livability (#225 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mt Laurel Elementary School (math 77% / reading 86%, grade A+, #4 of 627 statewide, top 1%, 514 students, 17% FRL); Chelsea Middle School (math 26% / reading 63%, grade D, #39 of 257 statewide, top 16%, 951 students, 28% FRL); Chelsea High School (math 43% / reading 42%, grade F, #27 of 305 statewide, top 9%, 1,400 students, 23% FRL) — zoned schools at 23% FRL track the district average.
• Zoned-school proficiency averages 56% at this address vs 44% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Shelby County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 400 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 802 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $60k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,077 (29.0% 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 802 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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. 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?
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 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: 0.71% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• GRM: 11.7

CMA / ARV

• ARV (median comp): $475,894
• List price: $289,000
• Delta: -39.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
188 Atlantic Ln	0.53mi	3/2.0	1,986 (-7%)	1mo	$456,000	$230	64
237 Sawmill Loop	0.45mi	3/3.0	2,032 (-4%)	7mo	$479,900	$236	62
217 Sawmill Loop	0.45mi	3/3.0	2,032 (-4%)	8mo	$493,900	$243	61
221 Sawmill Loop	0.45mi	3/2.0	1,986 (-7%)	15mo	$469,900	$237	55
1052 Kings Way	0.67mi	3/2.5	2,369 (+11%)	1mo	$415,000	$175	47
124 Atlantic Ln	0.64mi	3/3.0	2,032 (-4%)	15mo	$474,900	$234	46
1068 Dunnavant Pl	0.72mi	4/2.5 (+1)	2,350 (+10%)	1mo	$422,000	$180	41
1076 Dunnavant Pl	0.69mi	4/2.5 (+1)	2,327 (+9%)	5mo	$470,000	$202	41
232 Sawmill Loop	0.58mi	4/3.5 (+1)	2,308 (+8%)	11mo	$493,900	$214	39
1058 Dunnavant Pl	0.74mi	3/2.5	2,354 (+11%)	10mo	$415,000	$176	37
104 Atlantic Ln	0.58mi	4/3.5 (+1)	2,308 (+8%)	13mo	$464,900	$201	37
181 Atlantic Ln	0.54mi	4/3.5 (+1)	2,443 (+15%)	11mo	$501,900	$205	30

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-60,257
• Equity at exit: $43,091

10-year hold

• IRR: -21.4%
• Equity multiple: -0.01×
• Total profit: $-81,752
• Equity at exit: $24,987

Cash invested: $80,920 (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 35242

• Home prices YoY: -32.7%
• Rents YoY: 0.8%
• Active inventory: 400
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $2,051 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$124 /mo · $1,485/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-140

Break-even live

Break-even rent $2,227

Max offer price $264,345

Occupancy floor —

Sensitivity live

Price	-10% $24	-5% $-58	+0% $-140	+5% $-221	+10% $-303
Rent	-10% $-302	-5% $-221	+0% $-140	+5% $-59	+10% $22
Rate	-1.0pp $6	-0.5pp $-66	base $-140	+0.5pp $-214	+1.0pp $-291

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
463 Reach Dr Birmingham, AL	3.0	2.5	1776	$1,950	$1.10	3d	1	1.28mi
442 Forest Lakes Dr Sterrett, AL	3.0	2.5	2041	$2,250	$1.10	5d	1	1.32mi
521 Reach Dr Birmingham, AL	3.0	2.5	1720	$2,000	$1.16	3d	1	1.38mi
522 Reach Dr Birmingham, AL	3.0	2.5	1534	$1,950	$1.27	45d	1	1.39mi
2148 Forest Lakes Ln Sterrett, AL	3.0	2.5	2144	$2,300	$1.07	25d	1	1.43mi

Listing history 24 events

1. 2026-06-21
   days on market $289,000 Active 802 DOM
2. 2026-06-18
   days on market $289,000 Active 799 DOM
3. 2026-06-17
   days on market $289,000 Active 798 DOM
4. 2026-06-16
   days on market $289,000 Active 797 DOM
5. 2026-06-15
   days on market $289,000 Active 796 DOM
6. 2026-06-13
   days on market $289,000 Active 794 DOM
7. 2026-06-13
   days on market $289,000 Active 793 DOM
8. 2026-06-10
   days on market $289,000 Active 791 DOM
9. 2026-06-09
   days on market $289,000 Active 790 DOM
10. 2026-06-08
    days on market $289,000 Active 789 DOM
11. 2026-06-07
    days on market $289,000 Active 788 DOM
12. 2026-06-05
    statusdays on market $289,000 Active 785 DOM
13. 2026-06-03
    days on market $289,000 Contingent 784 DOM
14. 2026-06-02
    days on market $289,000 Contingent 783 DOM
15. 2026-06-01
    days on market $289,000 Contingent 782 DOM
16. 2026-05-31
    days on market $289,000 Contingent 781 DOM
17. 2026-05-18
    historical Contingent 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

18. 2026-03-14
    price $289,000 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

19. 2024-11-09
    price $299,000 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

20. 2024-10-03
    status Active 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

21. 2024-08-10
    historical Contingent 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

22. 2024-08-09
    status Active 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

23. 2024-07-30
    historical Contingent 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

24. 2024-04-05
    listed $349,000 Active 362-char remark

    Show marketing remark (362 chars)

    This property has 8 acres +/- of gorgeous land that backs up to Highland Lakes Subdivision. Easy access, and tons of trees, privacy and nature. The house is a 3BR 1BA older home that needs improvements. Great school system and location that can't be beat! This property sits at the foot of Double Oak Mountain on CR 41. GREAT potential and/or investment option.

ⓘ 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: $1,485 · $124/mo
• Projected year-2 tax: $1,485 · $124/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 4/10 Moderate
• 🌡 Heat 5/10 Major 6 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 9 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,609
• − Mortgage interest: −$16,188
• − Property taxes: −$1,485
• − Insurance: −$1,445
• − Repairs & maintenance: −$1,969
• − Management: −$1,969
• − Depreciation: −$8,407
• Taxable loss: −$6,854
• Est. tax savings @ 24.0%: +$1,645
• After-tax cash flow: $-30/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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Highland Lakes

• Score: 62/100
• State rank: #225
• US rank: #16940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highland Lakes, AL
• County: Shelby County · 188,970 people
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 57,374
• Household income: $117,047
• Rent vs Own: 26.8% rent · 73.2% own
• Severe rent burden: 1518.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 4% Asian 4% Hispanic / Latino 4%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -101.14%
• Current HPI: 208.0564
• Rent YoY: ▲ 0.81%
• Metro: Birmingham-Hoover, 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

-17.2% since first listed

8 events — show timeline

• 2026-05-18 Contingent — Greater Alabama MLS
• 2026-03-14 Price Changed $289,000 Greater Alabama MLS
• 2024-11-09 Price Changed $299,000 Greater Alabama MLS
• 2024-10-03 Relisted — Greater Alabama MLS
• 2024-08-10 Contingent — Greater Alabama MLS
• 2024-08-09 Relisted — Greater Alabama MLS
• 2024-07-30 Contingent — Greater Alabama MLS
• 2024-04-05 Listed $349,000 Greater Alabama MLS

Property tax history

+4.6%/yr

Latest (2025): $1,485 · -47.3% YoY. Source: county tax records.