104 Sycamore Pl · Athens, AL 35611

$139,900

2 bd · 1.0 ba · 1,186 sqft · Townhouse public records · 5 Days on market

Built 1990 2,472 sqft lot $118/sqft · 40% below area Est $203k · 31% under

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Why this score? — see what drove the C+ 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).

• Cash flow +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.5/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT PLACE IN CONVENIENT LOCATION. OWNER FINANCE

Key facts

• Patio
• Built 1990
• Listed 5 days

Tags

• PRIVACY FENCED BACKYARD
• PATIO
• LOCATED NEAR SHOPPING
• LOCATED NEAR RESTAURANTS

Property features AI

Finance

• Other: Lot dimensions approximately 24 x 103; No fireplaces
• HOA & community: No association; Subdivision: Sycamore Place

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Townhouse; Residential property; One level; Built in 1990
• Construction: Brick construction; Slab foundation
• Exterior features: Patio

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (4.8% below list).
• Recommended offer: $133k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.6% in Athens — 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 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.
• Athens City (town): math 27% / reading 51% proficiency, ranked #29 of 129 in AL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Athens Middle School (math 15% / reading 45%, grade F, #121 of 257 statewide, top 50%, 958 students, 59% FRL); Athens High School (math 29% / reading 38%, grade F, #56 of 305 statewide, top 18%, 1,173 students, 51% FRL).
• Market conditions: Rents rising (+1.2%/yr); 546 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $967 of loan paydown is wiped out by about $4k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y ago 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

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $133,221 (4.8% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.95% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

• ARV (median comp): $203,050
• List price: $139,900
• Delta: -31.10%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Sycamore Pl	0.00mi	2/2.0	1,040 (-12%)	0mo	$142,000	$137	75
162 Sycamore Pl	0.08mi	3/2.0 (+1)	1,296 (+9%)	1mo	$215,000	$166	71
105 Canterbury Cir	0.21mi	2/2.0	1,340 (+13%)	4mo	$191,100	$143	61

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.71×
• Total profit: $-11,305
• Equity at exit: $20,860

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-1,608
• Equity at exit: $12,096

Cash invested: $39,172 (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 35611

• Rents YoY: 1.2%
• Active inventory: 546
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,332 high
• Mortgage (P&I): −$734
• Tax from tax record: −$45 /mo · $534/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $216

Break-even live

Break-even rent $1,059

Max offer price $139,900

Occupancy floor 79%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Hine St N Athens, AL	3.0	1.5	1400	$1,450	$1.04	43d	1	0.48mi
1601 Florence St Athens, AL	3.0	1.0	1260	$1,850	$1.47	43d	1	0.64mi
514 Brownsferry St Athens, AL	3.0	1.0	953	$1,045	$1.10	43d	1	0.81mi
17960 Arrowhead Dr Athens, AL	1.0	1.0	728	$924	$1.27	43d	1	0.84mi
17962 Arrowhead Dr Athens, AL	2.0	2.0	1043	$1,024	$0.98	43d	1	0.84mi
314 Browns Ferry St Athens, AL	3.0	1.0	950	$1,045	$1.10	43d	1	0.88mi
402 Crutcher Cir Athens, AL	3.0	2.5	1108	$2,000	$1.81	43d	1	0.94mi
1601 W Elm St Unit 34 Athens, AL	1.0	1.0	750	$800	$1.07	43d	1	0.95mi
16917 Orleans Dr Unit 32 Athens, AL	3.0	2.0	1474	$1,900	$1.29	13d	1	1.07mi
16129 Cohen Dr Athens, AL	2.0–4.0	2.0–2.5	1650	$1,420	$0.86	13d	9	1.10mi
404 Chestnut St Athens, AL	2.0	2.0	840	$1,150	$1.37	21d	1	1.33mi
100 Henry Dr Athens, AL	2.0–3.0	2.0	1073	$869	$0.81	13d	4	1.33mi
710 S Clinton St Athens, AL	1.0–3.0	1.0–2.0	1056	$1,100	$1.04	13d	6	1.43mi
17896 Sallows Dr Athens, AL	3.0	2.0	1450	$1,595	$1.10	23d	1	1.45mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,239	$1.03	21d	1	1.46mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,469	$1.22	13d	1	1.46mi

Listing history 8 events

1. 2026-05-12
   status Pending 205-char remark
2. 2026-05-07
   listed $139,900 Active 205-char remark
3. 2026-03-05
   listed $165,000 Active
4. 2025-08-15
   price $179,900
5. 2025-06-06
   listed $190,000 Active
6. 2019-03-28
   soldstatus $79,546
7. 2012-10-26
   soldstatus $88,000

   Show marketing remark (49 chars)

   GREAT PLACE IN CONVENIENT LOCATION. OWNER FINANCE

8. 2012-09-27
   listed $88,000

   Show marketing remark (49 chars)

   GREAT PLACE IN CONVENIENT LOCATION. OWNER FINANCE

ⓘ 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: $534 · $45/mo
• Projected year-2 tax: $574 · $48/mo
• Expected delta: +$39/yr (+$3/mo · 7.4%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $15,987
• − Mortgage interest: −$7,837
• − Property taxes: −$534
• − Insurance: −$700
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$4,070
• Taxable income: $289
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $2,523/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: Athens City
• NCES district ID: 0100120
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $45,479
• Composite: 33.14/100
• National rank: #5555
• State rank: #29 of 129 in AL

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

• Census place: Athens, AL
• County: Limestone County · 80,439 people
• City population: 55,492
• Metro: Huntsville, AL
• Population (ZIP): 29,969
• Household income: $57,377
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 811.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Black 17% Hispanic / Latino 10% Two or more races 7% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 1%

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: ▼ -115.98%
• Current HPI: 185.0264
• Rent YoY: ▲ 1.23%
• 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

+61.4% since first listed

8 events — show timeline

• 2026-06-09 Sold (MLS) $142,000 VMLS
• 2026-05-12 Pending — VMLS
• 2026-05-07 Listed $139,900 VMLS
• 2025-08-15 Price Changed $179,900 VMLS
• 2025-06-06 Listed $190,000 VMLS
• 2019-03-28 Sold (Public Records) $79,546 Public Records
• 2012-10-26 Sold (MLS) $88,000 VMLS
• 2012-09-27 Listed $88,000 VMLS

Property tax history

+6.7%/yr

Latest (2025): $534 · +12.1% YoY. Source: county tax records.