Harpswell Plan · Madison, AL 35758

$1

4 bd · 3.0 ba · 2,661 sqft · SingleFamily · 342 Days on market

Excellent condition

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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
• Schools +5.6/10.0
• Condition / age +5.0/5.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Cash flow +1.7/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome home to a thoughtfully designed layout that offers comfort, flow, and functionality in every space in the Harpswell. Step onto the inviting covered front porch and enter into a spacious great room that anchors the front of the home, flanked by two bedrooms and a full secondary bathroom-perfect for guests or family. The open-concept kitchen features a large island and seamless connection to the dining room, creating the ideal setup for everyday meals and entertaining. Just beyond, a covered side porch extends your living space outdoors. A generous walk-in pantry is conveniently located off the hallway leading to the private primary suite. Toward the rear of the home, you'll find an additional bedroom and full bathroom, along with a well-placed laundry room and mudroom that lead to a flexible bonus room-ideal for a media space, office, or playroom. This home is built for modern living with a layout that adapts to your lifestyle.

Key facts

• Modern convenience
• Gourmet kitchens
• Walkable streets

Tags

• MODERN CONVENIENCE
• WALKABLE STREETS
• PICTURESQUE VILLAGE SQUARE
• NEW CONSTRUCTION HOMES
• SMART HOME TECHNOLOGY
• GOURMET KITCHENS

🏗️ New construction. The $1 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $740,276.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $1. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-3k ($-34k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1).
• Cap rate 1.7% vs local median 2.6% in Madison — 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 76/100 on livability (#12 in AL, #3,280 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F.
• Madison City (suburban): math 51% / reading 71% proficiency, ranked #4 of 129 in AL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Heritage Elementary School (math 63% / reading 83%, grade A, #18 of 627 statewide, top 3%, 876 students, 22% FRL); Liberty Middle School (math 45% / reading 77%, grade B+, #9 of 257 statewide, top 3%, 1,493 students, 22% FRL); James Clemens High School (math 50% / reading 53%, grade D+, #14 of 305 statewide, top 4%, 2,149 students, 21% FRL).
• Market conditions: Rents rising (+1.6%/yr); 382 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $79k of equity ($5k loan paydown + $74k 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 ~$127k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 342 days — a 12% lower offer ($0) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 1110414.7% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1

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 342 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.39% ✗
• Cap rate: 1.72%
• Cash-on-cash: -16.31%
• DSCR: 0.27
• GRM: 21.2

CMA / ARV

• ARV (median comp): $740,276
• List price: $1
• Delta: -100.00%
• 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
639 Town Madison Blvd	0.06mi	4/3.5	2,670 (+0%)	7mo	$731,846	$274	89
615 Town Madison Blvd	0.06mi	4/3.5	2,535 (-5%)	6mo	$590,000	$233	82
140 Bourbon Aly	0.10mi	4/3.5	2,840 (+7%)	5mo	$645,000	$227	78
103 Emerald Ln	0.29mi	4/3.0	2,709 (+2%)	9mo	$503,000	$186	76
381 Saint Louis St	0.25mi	4/3.5	2,770 (+4%)	6mo	$839,900	$303	75
366 Saint Louis St	0.14mi	4/3.5	2,825 (+6%)	9mo	$788,716	$279	74
151 Canterbury Dr	0.43mi	3/2.5 (-1)	2,613 (-2%)	2mo	$425,000	$163	69
114 Canterbury Dr	0.50mi	4/2.5	2,699 (+1%)	6mo	$420,000	$156	67
213 Saint Louis St	0.31mi	5/3.5 (+1)	2,949 (+11%)	6mo	$649,900	$220	56
206 Mainsail Way	0.68mi	4/2.5	2,747 (+3%)	6mo	$450,000	$164	56
89 Clearbrook Ct	0.49mi	4/2.5	2,368 (-11%)	9mo	$410,000	$173	49
126 Compass Point Dr	0.53mi	3/2.5 (-1)	2,357 (-11%)	1mo	$428,500	$182	48

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 · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 12.8%
• Equity multiple: 2.06×
• Total profit: $219,636
• Equity at exit: $666,900

10-year hold

• IRR: 13.0%
• Equity multiple: 4.76×
• Total profit: $780,182
• Equity at exit: $1,438,194

Cash invested: $207,277 (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 35758

• Home prices YoY: 4.2%
• Rents YoY: 1.6%
• Active inventory: 382

Monthly cashflow live

• Estimated rent: $2,909 high
• Mortgage (P&I): −$3,882
• Tax est. 1.5%: −$925 /mo · $11,104/yr
• Insurance: −$308
• HOA: −$0
• Vacancy / Maint / Mgmt: −$611
• Net cashflow: $-2,818

Break-even live

Break-even rent $6,476

Max offer price $332,499

Occupancy floor —

Sensitivity live

Price	-10% $-2,306	-5% $-2,562	+0% $-2,818	+5% $-3,074	+10% $-3,330
Rent	-10% $-3,048	-5% $-2,933	+0% $-2,818	+5% $-2,703	+10% $-2,588
Rate	-1.0pp $-2,445	-0.5pp $-2,630	base $-2,818	+0.5pp $-3,010	+1.0pp $-3,205

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: $185,069
• Closing costs: $22,208
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Poydras St Madison, AL	3.0	2.0	2457	$3,450	$1.40	22d	1	0.11mi
108 Napolean Ave Madison, AL	4.0	3.5	2761	$3,650	$1.32	25d	1	0.13mi
531 Town Madison Blvd Madison, AL	3.0	2.5	2332	$3,195	$1.37	45d	1	0.16mi
118 Canterbury Dr Madison, AL	3.0	2.0	2031	$2,300	$1.13	45d	1	0.48mi
102 W Lake Cir Madison, AL	3.0	2.5	2150	$1,700	$0.79	15d	1	0.51mi
102 Spinnaker Ridge Dr SW Huntsville, AL	3.0	2.5	2150	$2,100	$0.98	45d	1	0.85mi
103 Rainwood Dr SW Huntsville, AL	4.0	2.5	2155	$2,400	$1.11	45d	1	1.24mi
245 Pineridge Rd Madison, AL	3.0	2.0	1812	$2,000	$1.10	45d	1	1.34mi
119 Windsor Hill Rd SW Unit 119 Huntsville, AL	3.0	2.5	1768	$1,800	$1.02	25d	1	1.35mi
325 Acorn Grove Ln SW Huntsville, AL	4.0	2.0	1950	$2,200	$1.13	15d	1	1.39mi

Listing history 2 events

1. 2025-08-26
   price $1 948-char remark

   Show marketing remark (948 chars)

   Welcome home to a thoughtfully designed layout that offers comfort, flow, and functionality in every space in the Harpswell. Step onto the inviting covered front porch and enter into a spacious great room that anchors the front of the home, flanked by two bedrooms and a full secondary bathroom-perfect for guests or family. The open-concept kitchen features a large island and seamless connection to the dining room, creating the ideal setup for everyday meals and entertaining. Just beyond, a covered side porch extends your living space outdoors. A generous walk-in pantry is conveniently located off the hallway leading to the private primary suite. Toward the rear of the home, you'll find an additional bedroom and full bathroom, along with a well-placed laundry room and mudroom that lead to a flexible bonus room-ideal for a media space, office, or playroom. This home is built for modern living with a layout that adapts to your lifestyle.

2. 2025-06-18
   listed $650,599 Active 948-char remark

   Show marketing remark (948 chars)

   Welcome home to a thoughtfully designed layout that offers comfort, flow, and functionality in every space in the Harpswell. Step onto the inviting covered front porch and enter into a spacious great room that anchors the front of the home, flanked by two bedrooms and a full secondary bathroom-perfect for guests or family. The open-concept kitchen features a large island and seamless connection to the dining room, creating the ideal setup for everyday meals and entertaining. Just beyond, a covered side porch extends your living space outdoors. A generous walk-in pantry is conveniently located off the hallway leading to the private primary suite. Toward the rear of the home, you'll find an additional bedroom and full bathroom, along with a well-placed laundry room and mudroom that lead to a flexible bonus room-ideal for a media space, office, or playroom. This home is built for modern living with a layout that adapts to your lifestyle.

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,904
• − Mortgage interest: −$41,467
• − Property taxes: −$11,104
• − Insurance: −$3,701
• − Repairs & maintenance: −$2,792
• − Management: −$2,792
• − Depreciation: −$21,535
• Taxable loss: −$48,489
• Est. tax savings @ 24.0%: +$11,637
• After-tax cash flow: $-22,179/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 · 22 photos

Excellent 100/100 None rehab

This home is in excellent condition with no visible repairs needed. It offers a great layout and modern finishes, making it a solid investment for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Add smart home features — Improves convenience and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Add smart home features — Improves convenience and adds value ↑

ⓘ 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: Madison City
• NCES district ID: 0100008
• Math proficiency: 51% ▼ -25.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $89,091
• Composite: 55.56/100
• National rank: #1238
• State rank: #4 of 129 in AL

Livability — Madison

• Score: 76/100
• State rank: #12
• US rank: #3280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, AL
• County: Madison County · 380,832 people
• City population: 93,742
• Metro: Huntsville, AL
• Population (ZIP): 50,266
• Household income: $117,380
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 875.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Asian 7% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 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: ▲ 14.46%
• Current HPI: 355.2784
• Rent YoY: ▲ 1.58%
• 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

2 events — show timeline

• 2025-08-26 Price Changed $1 Zillow
• 2025-06-18 Listed $650,599 Zillow