186 Toney School Rd · Harvest, AL 35773

$289,900

3 bd · 1.0 ba · 2,031 sqft · SingleFamily public records · 28 Days on market

Built 2021 0.45 ac lot Est $343k · 16% under $13/mo HOA · 1% of rent ↓ 6% 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 +14.5/15.0
• Appreciation +10.0/10.0
• Cash flow +7.5/30.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.4/10.0

Listing remarks

Beautiful open concept home on a large lot in Toney! This 3 bed, 2 bath home features LVP flooring, crown molding, and a spacious living room with trey ceiling and cozy fireplace. Kitchen offers a large island, granite counters, tile backsplash, stainless steel appliances, pantry, and eat-in area. Spacious isolated master suite includes trey ceilings, double vanities, soaking tub, separate shower, and large walk-in closet. Enjoy the covered patio with extended concrete and huge privacy fenced backyard. Detached shed has been converted into the perfect office, man cave, or flex space!

Key facts

• Large lot
• Lvp flooring
• Cozy fireplace

Tags

• OPEN CONCEPT HOME
• LARGE LOT
• LVP FLOORING
• CROWN MOLDING
• SPACIOUS LIVING ROOM
• COZY FIREPLACE

Property features AI

Finance

• Other: Subdivision: Adalynn Acres
• HOA & community: HOA with common grounds; Annual association fee of $150

Exterior

• Parking: Attached two-car garage; Concrete driveway
• Utilities: Public water; Septic tank sewer
• Home design: Single-family residence; One story; Built in 2021; Residential property
• Construction: Brick construction; Slab foundation
• Exterior features: Underground utilities; Guest house; Patio; Covered porch; Covered patio

Interior

• Kitchen: Range; Dishwasher; Microwave
• Bedrooms: Total rooms: 7
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Fireplace (one)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-356 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (35.6% below list).
• Recommended offer: $187k (35.6% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.5% in Harvest — 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 72/100 on livability (#27 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living 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: Madison Cross Roads Elementary School (math 14% / reading 48%, grade F, #360 of 627 statewide, top 58%, 1,035 students, 59% FRL); Sparkman Middle School (math 18% / reading 53%, grade F, #81 of 257 statewide, top 33%, 859 students, 60% FRL); Sparkman High School (math 28% / reading 37%, grade F, #58 of 305 statewide, top 19%, 1,738 students, 37% FRL) — zoned schools average 52% FRL vs 29% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 326 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($286k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $186,761 (35.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.64% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 12.9

CMA / ARV

• ARV (on-the-fly): $343,239
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10504 Wall Triana Hwy	0.52mi	3/2.0	1,732 (-15%)	2mo	$295,000	$170	45
114 Hannah Marie Pl	0.60mi	4/2.0 (+1)	2,070 (+2%)	23mo	$350,000	$169	41
223 Williams Rd	0.49mi	3/2.5	2,250 (+11%)	18mo	$319,000	$142	38
10510 Wall Triana Hwy	0.54mi	3/2.0	1,730 (-15%)	12mo	$335,000	$194	36
107 Hannah Marie Pl	0.51mi	4/3.0 (+1)	2,150 (+6%)	22mo	$350,000	$163	35
100 Hannah Marie Pl	0.45mi	4/2.0 (+1)	2,245 (+10%)	22mo	$374,900	$167	34

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: 20.5%
• Equity multiple: 2.66×
• Total profit: $135,107
• Equity at exit: $261,165

10-year hold

• IRR: 18.7%
• Equity multiple: 6.12×
• Total profit: $415,567
• Equity at exit: $563,212

Cash invested: $81,172 (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 35773

• Home prices YoY: 28.8%
• Active inventory: 326
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,868 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$178 /mo · $2,134/yr
• Insurance: −$121
• HOA: −$13
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-356

Break-even live

Break-even rent $2,319

Max offer price $226,929

Occupancy floor —

Sensitivity live

Price	-10% $-192	-5% $-274	+0% $-356	+5% $-439	+10% $-521
Rent	-10% $-504	-5% $-430	+0% $-356	+5% $-283	+10% $-209
Rate	-1.0pp $-210	-0.5pp $-283	base $-356	+0.5pp $-432	+1.0pp $-508

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Hulsey Ln Unit 1 Toney, AL	4.0	2.5	2160	$1,780	$0.82	25d	1	0.29mi
104 Doe Crossing Ln Toney, AL	3.0	2.5	2260	$2,000	$0.88	15d	1	0.96mi
169 Fall Meadow Dr Harvest, AL	4.0	3.0	2136	$2,123	$0.99	45d	1	1.47mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 12 events

1. 2026-06-22
   days on market $289,900 Active 28 DOM
2. 2026-06-18
   days on market $289,900 Active 25 DOM
3. 2026-06-17
   pricedays on market $289,900 Active 24 DOM
4. 2026-06-16
   days on market $310,000 Active 23 DOM
5. 2026-06-15
   days on market $310,000 Active 22 DOM
6. 2026-06-14
   days on market $310,000 Active 20 DOM
7. 2026-06-10
   days on market $310,000 Active 17 DOM
8. 2026-06-09
   days on market $310,000 Active 16 DOM
9. 2026-06-08
   days on market $310,000 Active 15 DOM
10. 2026-06-07
    days on market $310,000 Active 14 DOM
11. 2026-06-03
    days on market $310,000 Active 10 DOM
12. 2026-05-19
    listed $310,000 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: $2,134 · $178/mo
• Projected year-2 tax: $2,134 · $178/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,411
• − Mortgage interest: −$16,239
• − Property taxes: −$2,134
• − Insurance: −$1,450
• − Repairs & maintenance: −$1,793
• − Management: −$1,793
• − HOA: −$156
• − Depreciation: −$8,433
• Taxable loss: −$9,586
• Est. tax savings @ 24.0%: +$2,301
• After-tax cash flow: $-1,977/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 — Harvest

• Score: 72/100
• State rank: #27
• US rank: #5986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 30,710
• 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

-6.5% since first listed

4 events — show timeline

• 2026-06-16 Price Changed $289,900 VMLS
• 2026-06-03 Relisted — VMLS
• 2026-05-28 Delisted — VMLS
• 2026-05-19 Listed $310,000 VMLS

Property tax history

+0.0%/yr

Latest (2024): $2,134 · +0.0% YoY. Source: county tax records.