11323 Cowford Rd · Athens, AL 35611

$179,900

3 bd · 1.0 ba · 1,002 sqft · SingleFamily public records · 18 Days on market

Built 1971 0.75 ac lot Est $152k · 18% over

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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).

• Cash flow +15.9/30.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 3 Bedrooms 1 Bath and ready for the new homeowners. Large kitchen with breakfast area, Living room with nice open front yard Connected carport. - Don't miss this fixer upper! Sold as is where is. Home does not have central heat and air.

Key facts

• Easy access
• Generous yard
• Updated flooring

Tags

• UPDATED FLOORING
• FUNCTIONAL LAYOUT
• GENEROUS YARD
• EASY ACCESS

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Attached carport
• Utilities: Septic tank sewer
• Home design: Single-family residence; One story; Built in 1971; Residential property
• Construction: Vinyl siding exterior
• Exterior features: Approximately 0.75-acre lot; Lot in Metes And Bounds subdivision; Directions: Highway 72 West, left on Lucasferry Road, then right on Brownsferry and then left on Cowford Road

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Window air conditioning
• Interior features: 5 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $144k (19.9% below list).
• Recommended offer: $144k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.5% 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.
• 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: Blue Springs Elementary School (math 32% / reading 49%, grade F, #238 of 627 statewide, top 38%, 515 students, 66% FRL); Clements High School (math 13% / reading 25%, grade F, #181 of 305 statewide, top 60%, 554 students, 68% FRL) — zoned schools average 67% FRL vs 40% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.2%/yr); 549 active listings in the ZIP; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($57k/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 $5k 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 18 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.
• Current owner paid $137k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $144,094 (19.9% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.80% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.05%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $152,304
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11688 Cowford Rd	0.37mi	3/1.0	984 (-2%)	7mo	$150,000	$152	74

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: -14.8%
• Equity multiple: 0.48×
• Total profit: $-26,297
• Equity at exit: $26,824

10-year hold

• IRR: -9.0%
• Equity multiple: 0.48×
• Total profit: $-26,227
• Equity at exit: $15,554

Cash invested: $50,372 (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 35611

• Rents YoY: 1.2%
• Active inventory: 549
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,441 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$34 /mo · $409/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $86

Break-even live

Break-even rent $1,332

Max offer price $179,900

Occupancy floor 89%

Sensitivity live

Price	-10% $188	-5% $137	+0% $86	+5% $35	+10% $-16
Rent	-10% $-28	-5% $29	+0% $86	+5% $143	+10% $200
Rate	-1.0pp $177	-0.5pp $132	base $86	+0.5pp $39	+1.0pp $-8

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-22
   days on market $179,900 Active 18 DOM
2. 2026-06-18
   days on market $179,900 Active 15 DOM
3. 2026-06-17
   days on market $179,900 Active 14 DOM
4. 2026-06-16
   days on market $179,900 Active 13 DOM
5. 2026-06-15
   days on market $179,900 Active 12 DOM
6. 2026-06-14
   days on market $179,900 Active 10 DOM
7. 2026-06-10
   days on market $179,900 Active 7 DOM
8. 2026-06-09
   days on market $179,900 Active 6 DOM
9. 2026-06-08
   days on market $179,900 Active 5 DOM
10. 2026-06-07
    days on market $179,900 Active 4 DOM
11. 2026-06-03
    remarks 688-char remark
12. 2026-06-03
    listed $179,900 Active 1 DOM

ⓘ 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: $409 · $34/mo
• Projected year-2 tax: $738 · $61/mo
• Expected delta: +$329/yr (+$27/mo · 80.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $17,291
• − Mortgage interest: −$10,077
• − Property taxes: −$409
• − Insurance: −$900
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − Depreciation: −$5,233
• Taxable loss: −$2,094
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $1,534/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: 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

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 · 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

+44.0% since first listed

10 events — show timeline

• 2026-06-03 Listed $179,900 VMLS
• 2025-07-19 Rental Removed $1,150 SHOWMOJO
• 2025-07-13 Price Changed $1,150 SHOWMOJO
• 2025-06-18 Listed for Rent $1,175 SHOWMOJO
• 2023-02-28 Sold (Public Records) $137,000 Public Records
• 2022-12-30 Sold (MLS) $72,000 VMLS
• 2022-12-27 Sold (Public Records) $72,000 Public Records
• 2022-11-26 Pending — VMLS
• 2022-11-19 Price Changed $90,000 VMLS
• 2022-11-03 Listed $124,900 VMLS

Property tax history

+26.8%/yr

Latest (2025): $409 · +167.2% YoY. Source: county tax records.