446 Landers Rd · Madison, AL 35758

$624,900

5 bd · 3.5 ba · 4,415 sqft · SingleFamily · 74 Days on market

0.47 ac lot $142/sqft · 19% below area Est $776k · 19% under $42/mo HOA · 1% of rent

---

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
• Appreciation +10.0/10.0
• Schools +5.6/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Cash flow +2.6/30.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Proposed Construction-*Proposed Construction* Located in the HEART OF MADISON just a short walk to downtown shopping an dining. This Harper floor plan features an open and spacious first floor with the primary ensuite down, dining and study. The second floor has 4 bedrooms and an oversized loft. This floorplan is customizable to fit your families needs. Over 4400 square feet, this home has all the space your family needs. Located in MADISON CITY SCHOOL District!

Key facts

• 0.47 acre lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $625k.

Deal economics

• At list price, monthly cash flow is $-2k ($-26k/yr) — negative.
• To cash-flow at today's rent, offer at most $314k (49.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (55.2% below list).
• Recommended offer: $280k (55.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#12 in AL, #3,280 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: amenities F, commute F.
• Madison City (suburban): math 51% / reading 71% proficiency, ranked #4 of 129 in AL (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.6%/yr); 382 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $67k of equity ($4k loan paydown + $62k appreciation (10.0% local appreciation)).
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$107k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($587k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,116 (55.2% 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 74 days. Have you received any prior offers? Is the seller open to a 55% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.45% ✗
• Cap rate: 2.17%
• Cash-on-cash: -14.73%
• DSCR: 0.34
• GRM: 18.6

CMA / ARV

• ARV (median comp): $776,159
• List price: $624,900
• Delta: -19.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 Shiloh Creek Dr	0.68mi	4/3.5 (-1)	4,182 (-5%)	0mo	$820,000	$196	54
126 Pine Willow Cir	0.70mi	5/4.0	4,217 (-4%)	21mo	$790,000	$187	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 2.14×
• Total profit: $199,675
• Equity at exit: $562,959

10-year hold

• IRR: 13.7%
• Equity multiple: 4.93×
• Total profit: $688,158
• Equity at exit: $1,214,043

Cash invested: $174,972 (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 35758

• Home prices YoY: 4.2%
• Rents YoY: 1.6%
• Active inventory: 382
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $2,801 medium
• Mortgage (P&I): −$3,277
• Tax est. 1.5%: −$781 /mo · $9,374/yr
• Insurance: −$260
• HOA: −$42
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-2,148

Break-even live

Break-even rent $5,520

Max offer price $314,135

Occupancy floor —

Sensitivity live

Price	-10% $-1,716	-5% $-1,932	+0% $-2,148	+5% $-2,364	+10% $-2,579
Rent	-10% $-2,369	-5% $-2,258	+0% $-2,148	+5% $-2,037	+10% $-1,926
Rate	-1.0pp $-1,833	-0.5pp $-1,989	base $-2,148	+0.5pp $-2,310	+1.0pp $-2,474

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: $156,225
• Closing costs: $18,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 Horseshoe Bnd S Madison, AL	4.0	3.5	3100	$2,650	$0.85	44d	1	0.81mi
240 Heritage Mill Dr Madison, AL	4.0	4.5	3600	$2,975	$0.83	44d	1	1.01mi
101 Mill Ridge Dr Madison, AL	4.0	3.5	3453	$3,100	$0.90	14d	1	1.02mi
137 Cormorant Lndg Madison, AL	4.0	3.5	3692	$3,600	$0.98	24d	1	1.33mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 15 events

1. 2026-06-18
   days on market $624,900 Active 74 DOM
2. 2026-06-17
   days on market $624,900 Active 73 DOM
3. 2026-06-16
   days on market $624,900 Active 72 DOM
4. 2026-06-15
   days on market $624,900 Active 71 DOM
5. 2026-06-14
   days on market $624,900 Active 69 DOM
6. 2026-06-10
   days on market $624,900 Active 66 DOM
7. 2026-06-09
   days on market $624,900 Active 65 DOM
8. 2026-06-08
   days on market $624,900 Active 64 DOM
9. 2026-06-07
   days on market $624,900 Active 63 DOM
10. 2026-06-03
    days on market $624,900 Active 59 DOM
11. 2026-06-02
    days on market $624,900 Active 58 DOM
12. 2026-06-01
    days on market $624,900 Active 57 DOM
13. 2026-05-31
    days on market $624,900 Active 56 DOM
14. 2026-05-30
    days on market $624,900 Active 55 DOM
15. 2026-04-05
    listed $624,900 Active 466-char remark

    Show marketing remark (466 chars)

    Proposed Construction-*Proposed Construction* Located in the HEART OF MADISON just a short walk to downtown shopping an dining. This Harper floor plan features an open and spacious first floor with the primary ensuite down, dining and study. The second floor has 4 bedrooms and an oversized loft. This floorplan is customizable to fit your families needs. Over 4400 square feet, this home has all the space your family needs. Located in MADISON CITY SCHOOL District!

ⓘ 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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,614
• − Mortgage interest: −$35,004
• − Property taxes: −$9,374
• − Insurance: −$3,124
• − Repairs & maintenance: −$2,689
• − Management: −$2,689
• − HOA: −$504
• − Depreciation: −$18,179
• Taxable loss: −$37,949
• Est. tax savings @ 24.0%: +$9,108
• After-tax cash flow: $-16,664/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: Madison City
• NCES district ID: 0100008
• Math proficiency: 51% ▼ -25.00%
• Reading proficiency: 71% ▼ -2.00%
• Median HH income: $89,091
• Composite: 55.56/100
• National rank: #1238
• State rank: #4 of 129 in AL

Livability — Madison

• Score: 76/100
• State rank: #12
• US rank: #3280

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison, AL
• County: Madison County · 380,832 people
• City population: 93,742
• Metro: Huntsville, AL
• Population (ZIP): 50,266
• Household income: $117,380
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 875.0

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 White (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Asian 7% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, South Korea, Vietnam
• Languages at home: 87% English-only · Spanish 5% Other Asian/Pacific 2% Chinese 1%

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: ▲ 14.46%
• Current HPI: 355.2784
• Rent YoY: ▲ 1.58%
• 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

1 event — show timeline

• 2026-04-05 Listed $624,900 VMLS