2801 Highway 31 NW · Hartselle, AL 35640

$229,900

6 bd · 1.0 ba · 2,382 sqft · SingleFamily public records · 185 Days on market

Built 1946 3.70 ac lot $97/sqft · 30% below area Est $323k · 29% under ↓ 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 +15.0/15.0
• Cash flow +10.5/30.0
• Schools +4.5/10.0
• Livability +3.6/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unique opportunity on 3.7 acres with Highway 31 frontage in Hartselle. This property offers residential and commercial potential. It also has a guest house making it ideal for an investor, business owner, or buyer looking for land with flexibility. The main home features 6 bedrooms and 2 baths and is functional but ready for updates, providing excellent upside for renovation or redevelopment. Expansive acreage allows room for expansion, additional structures, or future development. High-visibility location with easy access to Hartselle, Decatur, and I-65. Endless possibilities for the right buyer looking to add value in a growing area.

Key facts

• Expansive acreage
• 3.7 acres
• Outbuildings

Tags

• 3.7 ACRES
• HIGHWAY 31 FRONTAGE
• MULTIPLE DWELLINGS
• OUTBUILDINGS
• EXPANSIVE ACREAGE
• HIGH-VISIBILITY LOCATION

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (31.4% below list).
• Recommended offer: $158k (31.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.0% in Hartselle — 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 (#32 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Hartselle City (other): math 41% / reading 64% proficiency, ranked #10 of 129 in AL (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Crestline Elementary School (math 32% / reading 57%, grade F, #171 of 627 statewide, top 31%, 550 students, 49% FRL); Hartselle Junior High School (math 33% / reading 63%, grade C-, #29 of 257 statewide, top 12%, 527 students, 38% FRL); Hartselle High School (math 44% / reading 48%, grade D-, #18 of 305 statewide, top 6%, 1,031 students, 34% FRL) — zoned schools average 40% FRL vs 25% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 193 active listings in the ZIP; 231 units permitted in Morgan 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 $7k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,682 (31.4% 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 185 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• GRM: 12.1

CMA / ARV

• ARV (median comp): $323,485
• List price: $229,900
• Delta: -28.93%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-44,915
• Equity at exit: $34,279

10-year hold

• IRR: -13.1%
• Equity multiple: 0.23×
• Total profit: $-49,294
• Equity at exit: $19,878

Cash invested: $64,372 (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 35640

• Home prices YoY: -13.6%
• Active inventory: 193
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,577 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$63 /mo · $753/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-119

Break-even live

Break-even rent $1,727

Max offer price $208,966

Occupancy floor —

Sensitivity live

Price	-10% $12	-5% $-53	+0% $-119	+5% $-184	+10% $-249
Rent	-10% $-243	-5% $-181	+0% $-119	+5% $-56	+10% $6
Rate	-1.0pp $-3	-0.5pp $-60	base $-119	+0.5pp $-178	+1.0pp $-239

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $229,900 Active 185 DOM
2. 2026-06-18
   days on market $229,900 Active 184 DOM
3. 2026-06-17
   days on market $229,900 Active 183 DOM
4. 2026-06-16
   days on market $229,900 Active 182 DOM
5. 2026-06-15
   days on market $229,900 Active 181 DOM
6. 2026-06-14
   days on market $229,900 Active 179 DOM
7. 2026-06-12
   days on market $229,900 Active 178 DOM
8. 2026-06-09
   days on market $229,900 Active 175 DOM
9. 2026-06-08
   days on market $229,900 Active 174 DOM
10. 2026-06-07
    days on market $229,900 Active 173 DOM
11. 2026-06-07
    days on market $229,900 Active 172 DOM
12. 2026-06-04
    days on market $229,900 Active 169 DOM
13. 2026-06-02
    days on market $229,900 Active 168 DOM
14. 2026-06-01
    days on market $229,900 Active 167 DOM
15. 2026-05-31
    days on market $229,900 Active 166 DOM
16. 2026-05-31
    days on market $229,900 Active 165 DOM
17. 2025-12-16
    listed $229,900 Active 644-char remark

    Show marketing remark (644 chars)

    Unique opportunity on 3.7 acres with Highway 31 frontage in Hartselle. This property offers residential and commercial potential. It also has a guest house making it ideal for an investor, business owner, or buyer looking for land with flexibility. The main home features 6 bedrooms and 2 baths and is functional but ready for updates, providing excellent upside for renovation or redevelopment. Expansive acreage allows room for expansion, additional structures, or future development. High-visibility location with easy access to Hartselle, Decatur, and I-65. Endless possibilities for the right buyer looking to add value in a growing area.

18. 2025-10-28
    price $247,500
19. 2025-09-02
    price $250,000
20. 2025-08-28
    listed $245,000 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: $753 · $63/mo
• Projected year-2 tax: $943 · $79/mo
• Expected delta: +$189/yr (+$16/mo · 25.1%)

ⓘ 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 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,922
• − Mortgage interest: −$12,878
• − Property taxes: −$753
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$6,688
• Taxable loss: −$5,574
• Est. tax savings @ 24.0%: +$1,338
• After-tax cash flow: $-84/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: Hartselle City
• NCES district ID: 0101730
• Math proficiency: 41% ▼ -25.00%
• Reading proficiency: 64% ▼ -1.00%
• Median HH income: $51,169
• Composite: 44.88/100
• National rank: #2717
• State rank: #10 of 129 in AL

Livability — Hartselle

• Score: 72/100
• State rank: #32
• US rank: #6515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hartselle, AL
• City population: 26,976
• Population (ZIP): 26,976

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.12%
• Current HPI: 242.5778
• 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

-6.2% since first listed

4 events — show timeline

• 2025-12-16 Listed $229,900 VMLS
• 2025-10-28 Price Changed $247,500 VMLS
• 2025-09-02 Price Changed $250,000 VMLS
• 2025-08-28 Listed $245,000 VMLS

Property tax history

+3.4%/yr

Latest (2025): $753 · +6.7% YoY. Source: county tax records.