2802 Sparkman Dr · Huntsville, AL 35810

$200,000

5 bd · 1.5 ba · 2,363 sqft · SingleFamily public records · 77 Days on market

Built 1971 0.26 ac lot $85/sqft · at area comps Est $240k · 17% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• Livability +4.1/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 5-bedroom, 3-bathroom home located in near shopping, restaurants, and North Memorial Parkway. This home features an expansive primary suite as a cozy retreat with its own wood-burning fire place, creating warmth and comfort year-round.

Key facts

• Primary suite
• 0.26 acre lot
• Listed 77 days

Tags

• PRIMARY SUITE
• WOOD BURNING FIRE PLACE

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/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 $191k (4.4% below list).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.8% in Huntsville — 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 82/100 on livability (#3 in AL, #1,082 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F.
• Huntsville City (urban): math 21% / reading 46% proficiency, ranked #48 of 129 in AL (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.1%/yr); 337 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 45% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; list at $200k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.96% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (median comp): $240,009
• List price: $200,000
• Delta: -16.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3129 Millbrook Dr NW	0.19mi	5/3.0	2,218 (-6%)	3mo	$260,000	$117	72
3124 Millbrook Dr NW	0.16mi	4/2.0 (-1)	2,034 (-14%)	15mo	$263,900	$130	50
2619 Venetian Way NW	0.43mi	4/2.5 (-1)	2,452 (+4%)	17mo	$205,000	$84	50
2506 Greenhill Dr NW	0.45mi	4/3.0 (-1)	2,200 (-7%)	10mo	$203,000	$92	48
3110 Doner Cir NW	0.18mi	4/2.0 (-1)	2,037 (-14%)	22mo	$138,000	$68	43
3706 Mcewen Dr	0.69mi	5/3.0	2,596 (+10%)	4mo	$290,000	$112	42
3459 Darlene Cir NW	0.61mi	5/2.0	2,076 (-12%)	9mo	$285,000	$137	42
2808 Penland Ave NW	0.46mi	4/3.5 (-1)	2,200 (-7%)	15mo	$235,000	$107	41
3465 Darlene Cir NW	0.57mi	4/3.0 (-1)	2,540 (+8%)	17mo	$253,000	$100	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.68×
• Total profit: $-17,962
• Equity at exit: $29,821

10-year hold

• IRR: -3.6%
• Equity multiple: 0.79×
• Total profit: $-11,721
• Equity at exit: $17,292

Cash invested: $56,000 (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 35810

• Home prices YoY: -23.5%
• Rents YoY: -0.1%
• Active inventory: 337
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$62 /mo · $748/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $316

Break-even live

Break-even rent $1,512

Max offer price $200,000

Occupancy floor 78%

Sensitivity live

Price	-10% $429	-5% $373	+0% $316	+5% $260	+10% $203
Rent	-10% $165	-5% $241	+0% $316	+5% $392	+10% $467
Rate	-1.0pp $417	-0.5pp $367	base $316	+0.5pp $264	+1.0pp $212

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2712 Garvin Rd NW Huntsville, AL	4.0	2.0	2528	$1,975	$0.78	14d	1	0.58mi
2712 Garvin Rd NW Huntsville, AL	4.0	2.0	2528	$2,000	$0.79	44d	1	0.58mi
2707 Garvin Rd NW Huntsville, AL	4.0	2.0	2284	$1,450	$0.63	24d	1	0.60mi
3616 Hester Ln NW Huntsville, AL	4.0	2.0	1650	$1,350	$0.82	44d	1	0.79mi
743 W Arbor Dr NW Huntsville, AL	4.0	2.0	2000	$1,600	$0.80	24d	1	0.98mi
2602 Gibson St NW Huntsville, AL	4.0	2.0	1795	$1,625	$0.91	44d	1	1.08mi
3904 Battlefield Dr NW Huntsville, AL	4.0	2.0	1890	$1,600	$0.85	44d	1	1.24mi

Listing history 17 events

1. 2026-06-18
   days on market $200,000 Active 77 DOM
2. 2026-06-17
   days on market $200,000 Active 76 DOM
3. 2026-06-16
   days on market $200,000 Active 75 DOM
4. 2026-06-15
   days on market $200,000 Active 74 DOM
5. 2026-06-14
   days on market $200,000 Active 72 DOM
6. 2026-06-10
   days on market $200,000 Active 69 DOM
7. 2026-06-09
   days on market $200,000 Active 68 DOM
8. 2026-06-08
   days on market $200,000 Active 67 DOM
9. 2026-06-07
   days on market $200,000 Active 66 DOM
10. 2026-06-03
    days on market $200,000 Active 62 DOM
11. 2026-06-02
    days on market $200,000 Active 61 DOM
12. 2026-06-01
    days on market $200,000 Active 60 DOM
13. 2026-05-31
    days on market $200,000 Active 59 DOM
14. 2026-05-30
    days on market $200,000 Active 58 DOM
15. 2026-05-03
    price $200,000 252-char remark

    Show marketing remark (252 chars)

    Welcome to this 5-bedroom, 3-bathroom home located in near shopping, restaurants, and North Memorial Parkway. This home features an expansive primary suite as a cozy retreat with its own wood-burning fire place, creating warmth and comfort year-round.

16. 2026-04-02
    listed $209,900 Active 252-char remark

    Show marketing remark (252 chars)

    Welcome to this 5-bedroom, 3-bathroom home located in near shopping, restaurants, and North Memorial Parkway. This home features an expansive primary suite as a cozy retreat with its own wood-burning fire place, creating warmth and comfort year-round.

17. 2019-10-24
    soldstatus $78,000

ⓘ 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: $748 · $62/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$72/yr (+$6/mo · 9.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $22,946
• − Mortgage interest: −$11,203
• − Property taxes: −$748
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,818
• Taxable income: $506
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $3,673/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: Huntsville City
• NCES district ID: 0101800
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $48,264
• Composite: 28.84/100
• National rank: #6647
• State rank: #48 of 129 in AL

Livability — Huntsville

• Score: 82/100
• State rank: #3
• US rank: #1082

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntsville, AL
• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 32,843
• Household income: $51,233
• Rent vs Own: 36.6% rent · 63.4% own
• Severe rent burden: 1223.0

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 Black (69%)
• Race & ethnicity: Black 69% White 18% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Dominican 2%
• Common ancestry: Italian 2% Lithuanian 0%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 7%

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: ▼ -61.00%
• Current HPI: 198.9629
• Rent YoY: ▬ -0.05%
• 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

+156.4% since first listed

3 events — show timeline

• 2026-05-03 Price Changed $200,000 VMLS
• 2026-04-02 Listed $209,900 VMLS
• 2019-10-24 Sold (Public Records) $78,000 Public Records

Property tax history

+10.0%/yr

Latest (2024): $748 · +0.0% YoY. Source: county tax records.