Rayleigh IV G Plan · Meridianville, AL 35759

$246,990

3 bd · 2.0 ba · 1,495 sqft · SingleFamily · 243 Days on market

↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +3.8/30.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

- Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

Key facts

• Open floor plan
• Covered rear patio
• Double master vanity

Tags

• OPEN FLOOR PLAN
• BRICK & SIDING EXTERIOR
• RECESSED CAN LIGHTING
• DOUBLE MASTER VANITY
• WALK-IN MASTER CLOSET
• COVERED REAR PATIO

🏗️ New construction. The $246,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $374,324.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $247k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (22.5% below list).
• Recommended offer: $191k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 2.8% vs local median 3.6% in Meridianville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Zoned schools: Lynn Fanning Elementary School (math 27% / reading 57%, grade F, #213 of 627 statewide, top 37%, 772 students, 39% FRL); Moores Mill Intermediate School (math 42% / reading 66%, grade B-, #20 of 257 statewide, top 8%, 840 students, 46% FRL); Hazel Green High School (math 23% / reading 31%, grade F, #90 of 305 statewide, top 35%, 1,348 students, 42% FRL).
• Market conditions: Rents flat; 504 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Recommended offer $191,424 (22.5% 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 243 days. Have you received any prior offers? Is the seller open to a 22% 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: 0.51% ✗
• Cap rate: 2.85%
• Cash-on-cash: -12.30%
• DSCR: 0.45
• GRM: 16.3

CMA / ARV

• ARV (median comp): $374,324
• List price: $246,990
• Delta: -34.02%
• 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
261 John Harold Dr	0.40mi	3/2.0	1,495 (0%)	5mo	$270,000	$181	77
265 John Harold Dr	0.42mi	3/2.0	1,517 (+2%)	7mo	$271,990	$179	72
233 Jerrie Lynn Blvd	0.51mi	3/2.0	1,484 (-1%)	7mo	$274,585	$185	69
104 Old Shell Rd	0.51mi	3/2.0	1,459 (-2%)	4mo	$255,000	$175	69
234 Jerrie Lynn Blvd	0.51mi	3/2.0	1,484 (-1%)	9mo	$261,900	$176	68
124 Midpark Dr	0.27mi	3/2.0	1,642 (+10%)	10mo	$275,000	$167	62
267 John Harold Dr	0.43mi	3/2.0	1,375 (-8%)	7mo	$257,990	$188	61
236 Jerrie Lynn Blvd	0.51mi	3/2.0	1,620 (+8%)	7mo	$289,900	$179	57
232 Jerrie Lynn Blvd	0.51mi	3/2.0	1,620 (+8%)	8mo	$275,500	$170	55
224 Jerrie Lynn Blvd	0.57mi	3/2.0	1,620 (+8%)	6mo	$305,051	$188	55
170 Midpark Dr	0.47mi	3/2.0	1,660 (+11%)	6mo	$278,000	$167	54
186 Bramble Creek Dr	0.67mi	3/2.0	1,683 (+13%)	3mo	$279,900	$166	46

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 · 0.55% rent growth · sell at horizon

5-year hold

• IRR: -41.7%
• Equity multiple: -0.28×
• Total profit: $-133,677
• Equity at exit: $55,813

10-year hold

• IRR: -87.5%
• Equity multiple: -1.12×
• Total profit: $-222,414
• Equity at exit: $32,365

Cash invested: $104,811 (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 35759

• Home prices YoY: -6.1%
• Rents YoY: 0.6%
• Active inventory: 504
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,914 medium
• Mortgage (P&I): −$1,963
• Tax est. 1.5%: −$468 /mo · $5,615/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-1,075

Break-even live

Break-even rent $3,275

Max offer price $218,825

Occupancy floor —

Sensitivity live

Price	-10% $-816	-5% $-945	+0% $-1,075	+5% $-1,204	+10% $-1,333
Rent	-10% $-1,226	-5% $-1,150	+0% $-1,075	+5% $-999	+10% $-923
Rate	-1.0pp $-886	-0.5pp $-979	base $-1,075	+0.5pp $-1,172	+1.0pp $-1,270

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: $93,581
• Closing costs: $11,230
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 John Harold Dr Meridianville, AL	4.0	2.0	1848	$1,795	$0.97	15d	1	0.12mi
210 John Harold Dr Meridianville, AL	3.0	2.0	1771	$1,695	$0.96	25d	1	0.12mi
109 Old Shell Rd Meridianville, AL	4.0	2.0	1852	$1,850	$1.00	45d	1	0.56mi
194 Topaz Rd Huntsville, AL	3.0	2.0	1550	$1,895	$1.22	45d	1	1.17mi

Listing history 17 events

1. 2026-06-22
   days on market $246,990 Active 243 DOM
2. 2026-06-18
   days on market $246,990 Active 240 DOM
3. 2026-06-17
   days on market $246,990 Active 239 DOM
4. 2026-06-16
   days on market $246,990 Active 238 DOM
5. 2026-06-15
   days on market $246,990 Active 237 DOM
6. 2026-06-14
   days on market $246,990 Active 235 DOM
7. 2026-06-10
   days on market $246,990 Active 232 DOM
8. 2026-06-09
   days on market $246,990 Active 231 DOM
9. 2026-06-08
   days on market $246,990 Active 230 DOM
10. 2026-06-07
    days on market $246,990 Active 229 DOM
11. 2026-06-02
    days on market $246,990 Active 224 DOM
12. 2026-06-01
    days on market $246,990 Active 223 DOM
13. 2026-05-31
    days on market $246,990 Active 222 DOM
14. 2026-05-30
    days on market $246,990 Active 221 DOM
15. 2026-04-28
    price $246,990 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

16. 2026-04-28
    price $287,990 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

17. 2025-10-21
    listed $259,990 Active 201-char remark

    Show marketing remark (201 chars)

    - Open Floor Plan - Three Bedrooms, Two Bathrooms - Brick & Siding Exterior - Recessed Can Lighting in Kitchen - Double Master Vanity - Walk-In Master Closet - Two Car Garage - Covered Rear Patio

ⓘ 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: $22,971
• − Mortgage interest: −$20,968
• − Property taxes: −$5,615
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$10,889
• Taxable loss: −$20,048
• Est. tax savings @ 24.0%: +$4,812
• After-tax cash flow: $-8,084/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

• Census place: Meridianville, AL
• County: Madison County · 380,832 people
• City population: 14,103
• Metro: Huntsville, AL
• Population (ZIP): 14,103
• Household income: $102,880
• Rent vs Own: 9.3% rent · 90.7% own
• Severe rent burden: 148.0

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 0.57)
• Race & ethnicity: White 61% Black 23% Two or more races 8% Hispanic / Latino 4% Native American 3% Asian 2%
• Common ancestry: Italian 2% Lithuanian 2% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 94% English-only · Spanish 3% Tagalog/Filipino 1% 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: ▼ -18.37%
• Current HPI: 282.7104
• Rent YoY: ▲ 0.55%
• 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

-5.0% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $246,990 Zillow
• 2026-04-28 Price Changed $287,990 Zillow
• 2025-10-21 Listed $259,990 Zillow