The Franklin V Plan · Athens, AL 35613

$230,900

3 bd · 2.0 ba · 1,620 sqft · SingleFamily · 335 Days on market

Good condition

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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 +6.4/30.0
• Schools +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Within this cozy, one-level home lies a modern use of space. From the kitchen's large island to the family room's spacious open-concept, you're surrounded by owner-centric design. The oversized, two-car garage gives you extra storage space, and the large, covered back porch encourages you to sit down, kick your feet up, and enjoy the breeze. Back inside, the isolated Master Suite features a beautiful bathroom layout - complete with a large walk-in closet. Make it your own with The Franklin's flexible floor plan, featuring an alternative Master Bath layout and extra storage space. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. * Attached photos may include upgrades and non-standard features.

Key facts

• Open-concept
• Walk-in closet
• Flexible floor plan

Tags

• LARGE ISLAND
• OPEN-CONCEPT
• COVERED BACK PORCH
• ISOLATED MASTER SUITE
• WALK-IN CLOSET
• FLEXIBLE FLOOR PLAN

🏗️ New construction. The $230,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $275,700.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $231k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (21.8% below list).
• Recommended offer: $181k (21.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 75/100 on livability (#18 in AL, #4,019 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, commute F.
• Limestone County (rural): math 21% / reading 44% proficiency, ranked #52 of 129 in AL (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Piney Chapel Elementary School (math 27% / reading 57%, grade F, #213 of 627 statewide, top 37%, 203 students, 75% FRL) — zoned schools average 75% FRL vs 40% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1309 active listings in the ZIP; solid renter incomes; 494 units permitted in Limestone 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 $8k of value loss. Plan a longer hold.
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($203k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $180,603 (21.8% 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 335 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: 0.66% ✗
• Cap rate: 4.21%
• Cash-on-cash: -7.44%
• DSCR: 0.67
• GRM: 12.7

CMA / ARV

• ARV (median comp): $275,700
• List price: $230,900
• Delta: -16.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20112 Hillsborough St	0.06mi	3/2.0	1,620 (0%)	6mo	$250,000	$154	92
20109 Hillsborough St	0.06mi	3/2.0	1,484 (-8%)	9mo	$251,292	$169	76
22601 Quarry Rd	0.08mi	3/2.0	1,837 (+13%)	9mo	$309,000	$168	67
22120 Smith Rd	0.61mi	3/2.0	1,717 (+6%)	1mo	$300,000	$175	60
19576 Looney Rd	0.69mi	3/2.0	1,576 (-3%)	5mo	$286,000	$181	59

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -29.3%
• Equity multiple: 0.03×
• Total profit: $-75,126
• Equity at exit: $41,108

10-year hold

• IRR: -29.6%
• Equity multiple: -0.35×
• Total profit: $-104,554
• Equity at exit: $23,837

Cash invested: $77,196 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 9 under contract
• Months of supply: 4.3 mo (23%/mo absorbed)
• Median asking: $232,855 ($149/sqft)
• Median days on market: 335 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +14.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 35613

• Home prices YoY: -33.9%
• Active inventory: 1309
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,806 medium
• Mortgage (P&I): −$1,446
• Tax est. 1.5%: −$345 /mo · $4,136/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $-479

Break-even live

Break-even rent $2,412

Max offer price $206,455

Occupancy floor —

Sensitivity live

Price	-10% $-288	-5% $-383	+0% $-479	+5% $-574	+10% $-669
Rent	-10% $-621	-5% $-550	+0% $-479	+5% $-407	+10% $-336
Rate	-1.0pp $-340	-0.5pp $-408	base $-479	+0.5pp $-550	+1.0pp $-623

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: $68,925
• Closing costs: $8,271
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-11-08
   days on market $230,900 Active 335 DOM
2. 2026-11-07
   days on market $230,900 Active 334 DOM
3. 2026-11-06
   days on market $230,900 Active 333 DOM
4. 2026-11-05
   days on market $230,900 Active 332 DOM
5. 2026-11-04
   days on market $230,900 Active 331 DOM
6. 2026-11-02
   days on market $230,900 Active 329 DOM
7. 2026-11-01
   days on market $230,900 Active 328 DOM
8. 2026-10-31
   days on market $230,900 Active 327 DOM
9. 2026-10-30
   days on market $230,900 Active 326 DOM
10. 2026-10-29
    days on market $230,900 Active 325 DOM
11. 2026-10-28
    days on market $230,900 Active 324 DOM
12. 2026-10-27
    days on market $230,900 Active 323 DOM
13. 2026-10-26
    days on market $230,900 Active 322 DOM
14. 2026-10-26
    days on market $230,900 Active 321 DOM
15. 2026-10-24
    days on market $230,900 Active 320 DOM
16. 2026-10-23
    days on market $230,900 Active 319 DOM
17. 2026-10-22
    days on market $230,900 Active 318 DOM
18. 2026-10-21
    days on market $230,900 Active 317 DOM
19. 2026-10-20
    days on market $230,900 Active 316 DOM
20. 2026-10-19
    days on market $230,900 Active 315 DOM
21. 2026-10-18
    days on market $230,900 Active 314 DOM
22. 2026-10-17
    days on market $230,900 Active 313 DOM
23. 2026-10-16
    days on market $230,900 Active 312 DOM
24. 2026-10-15
    days on market $230,900 Active 311 DOM
25. 2026-10-14
    days on market $230,900 Active 310 DOM
26. 2026-10-13
    days on market $230,900 Active 309 DOM
27. 2026-10-12
    days on market $230,900 Active 308 DOM
28. 2026-10-11
    days on market $230,900 Active 307 DOM
29. 2026-10-10
    days on market $230,900 Active 306 DOM
30. 2026-10-09
    days on market $230,900 Active 305 DOM
31. 2026-10-08
    days on market $230,900 Active 304 DOM
32. 2026-10-07
    days on market $230,900 Active 303 DOM
33. 2026-10-06
    days on market $230,900 Active 302 DOM
34. 2026-10-05
    days on market $230,900 Active 301 DOM
35. 2026-10-04
    days on market $230,900 Active 300 DOM
36. 2026-10-04
    days on market $230,900 Active 299 DOM
37. 2026-10-02
    days on market $230,900 Active 298 DOM
38. 2026-10-01
    days on market $230,900 Active 297 DOM
39. 2026-09-30
    days on market $230,900 Active 296 DOM
40. 2026-09-29
    days on market $230,900 Active 295 DOM
41. 2026-09-28
    days on market $230,900 Active 294 DOM
42. 2026-09-27
    days on market $230,900 Active 293 DOM
43. 2026-09-25
    days on market $230,900 Active 291 DOM
44. 2026-09-24
    days on market $230,900 Active 290 DOM
45. 2026-09-23
    days on market $230,900 Active 289 DOM
46. 2026-09-22
    pricedays on market $230,900 Active 288 DOM
47. 2026-09-21
    days on market $223,900 Active 287 DOM
48. 2026-09-20
    days on market $223,900 Active 286 DOM
49. 2026-09-19
    days on market $223,900 Active 285 DOM
50. 2026-09-18
    days on market $223,900 Active 284 DOM

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,672
• − Mortgage interest: −$15,443
• − Property taxes: −$4,136
• − Insurance: −$1,378
• − Repairs & maintenance: −$1,734
• − Management: −$1,734
• − Depreciation: −$8,020
• Taxable loss: −$10,773
• Est. tax savings @ 24.0%: +$2,586
• After-tax cash flow: $-3,157/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 · 3 photos

Good 80/100 Cosmetic rehab Est. rehab $8,100–$24,300 screening

This one-level home is in good condition with modern design and ample storage. Minor exterior touch-ups and maintenance would further enhance its curb appeal and rental value.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal ↑
• Rental Replace or clean gutters — Keeps home dry and prevents water damage ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Piney Chapel Elementary School F AL #213/627 Nat'l #17,861/41,679

Schools (NCES district)

• District: Limestone County
• NCES district ID: 0102100
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $48,972
• Composite: 28.09/100
• National rank: #6829
• State rank: #52 of 129 in AL

B Composite livability gradescore 75/100

Livability — Athens

• Score: 75/100
• State rank: #18
• US rank: #4019

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Limestone County · 111,441 people
• City population: 55,492
• Metro: Huntsville, AL
• Population (ZIP): 25,523
• Household income: $100,845
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 1% of renters

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Population outlook (Limestone County) Hauer SSP2

• Today (2025): 111,441 people
• By 2030: 121,272 · +8.8%
• By 2040: 140,705 · +26.3%
• By 2050: 159,069 · +42.7%
• By 2075: 202,231 · +81.5%
• By 2100: 230,608 · +106.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Languages at home: 96% English-only · Spanish 3% Vietnamese 1%

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Political lean MEDSL · Limestone

• 2024 margin: Solid R (+43.9) · D 27.5% · R 71.4% · Other 1.2%
• 2008→2024 swing: -2.0pp toward R · 2008: -41.9pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+42.6 2016: R+49.5 2012: R+43.6 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.56%
• Current HPI: 173.0763
• Rent YoY: —
• Metro: Huntsville, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

1 event — show timeline

• 2025-12-08 Listed $257,900 Zillow