12003 Pulaski Pike · Harvest, AL 35773

$199,900

4 bd · 1.0 ba · 1,978 sqft · SingleFamily public records · 64 Days on market

Built 1965 0.90 ac lot $101/sqft · 32% below area Est $285k · 30% under ↓ 27% since listing

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0

Listing remarks MLS

Step right into this delightful four-bedroom rancher perched on nearly an acre of mature trees and boasting charming views of the neighboring pasture. Embrace the whimsical experience of watching sunrises and sunsets while lounging on the covered front porch or spacious deck. With room to spare for your flower or veggie gardens, and not one but a two-car side entry garage for all your parking needs, this home is the epitome of comfort and convenience. The large rooms and spacious living areas offer plenty of space for your antics and adventures. Don't miss out on the chance to add a touch of humor and fun to your daily routine in this delightful abode! Visit this home today.

Key facts

• Covered front porch
• Spacious deck
• Mature trees

Tags

• COVERED FRONT PORCH
• SPACIOUS DECK
• MATURE TREES
• FLOWER OR VEGGIE GARDENS
• TWO-CAR SIDE ENTRY GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (31.0% below list).
• Recommended offer: $138k (31.0% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.5% in Harvest — 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 (#27 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Madison County (rural): math 27% / reading 56% proficiency, ranked #19 of 129 in AL (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 319 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k 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 ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $34k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $137,992 (31.0% 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 64 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 1965 — 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. 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: 0.69% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.18%
• DSCR: 0.86
• GRM: 12.1

CMA / ARV

• ARV (median comp): $284,991
• List price: $199,900
• Delta: -29.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Southern Pine Dr	0.28mi	4/2.0	1,995 (+1%)	24mo	$337,000	$169	62
109 Gulf Hills Ave	0.09mi	4/2.0	1,748 (-12%)	14mo	$303,400	$174	60
119 Southern Pine Dr	0.32mi	3/2.0 (-1)	2,067 (+4%)	16mo	$264,798	$128	56
112 Compass Hill Cir	0.72mi	3/2.0 (-1)	1,950 (-1%)	2mo	$305,000	$156	53
107 Sand Pine Ct	0.24mi	3/2.0 (-1)	1,784 (-10%)	15mo	$262,000	$147	51
102 Landings Way Dr	0.61mi	3/2.0 (-1)	1,774 (-10%)	11mo	$220,000	$124	36
108 Landings Way Dr	0.62mi	3/2.0 (-1)	1,819 (-8%)	22mo	$300,000	$165	31
Pulaski Pike	0.67mi	3/2.0 (-1)	2,240 (+13%)	23mo	$135,000	$60	19

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.78×
• Total profit: $99,354
• Equity at exit: $180,086

10-year hold

• IRR: 19.8%
• Equity multiple: 6.36×
• Total profit: $299,879
• Equity at exit: $388,362

Cash invested: $55,972 (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 35773

• Home prices YoY: 28.8%
• Active inventory: 319
• Price-to-rent: 12.1×

Monthly cashflow live

• Estimated rent: $1,380 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$107 /mo · $1,283/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-148

Break-even live

Break-even rent $1,568

Max offer price $173,689

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2460 Ready Section Rd Toney, AL	4.0	2.0	1519	$1,499	$0.99	21d	1	0.37mi
110 Fox Haven Ln Toney, AL	3.0	2.0	1392	$1,450	$1.04	44d	1	0.45mi
1358 Carter Grove Rd Unit 1358 A Hazel Green, AL	3.0	2.0	1233	$700	$0.57	23d	1	1.18mi

Listing history 13 events

1. 2026-06-18
   days on market $199,900 Active 64 DOM
2. 2026-06-17
   days on market $199,900 Active 63 DOM
3. 2026-06-16
   pricedays on market $199,900 Active 62 DOM
4. 2026-06-15
   days on market $218,900 Active 61 DOM
5. 2026-06-14
   statusdays on market $218,900 Active 59 DOM
6. 2026-05-12
   price $218,900 683-char remark

   Show marketing remark (683 chars)

   Step right into this delightful four-bedroom rancher perched on nearly an acre of mature trees and boasting charming views of the neighboring pasture. Embrace the whimsical experience of watching sunrises and sunsets while lounging on the covered front porch or spacious deck. With room to spare for your flower or veggie gardens, and not one but a two-car side entry garage for all your parking needs, this home is the epitome of comfort and convenience. The large rooms and spacious living areas offer plenty of space for your antics and adventures. Don't miss out on the chance to add a touch of humor and fun to your daily routine in this delightful abode! Visit this home today.

7. 2026-04-01
   listed $233,950 Active 683-char remark

   Show marketing remark (683 chars)

   Step right into this delightful four-bedroom rancher perched on nearly an acre of mature trees and boasting charming views of the neighboring pasture. Embrace the whimsical experience of watching sunrises and sunsets while lounging on the covered front porch or spacious deck. With room to spare for your flower or veggie gardens, and not one but a two-car side entry garage for all your parking needs, this home is the epitome of comfort and convenience. The large rooms and spacious living areas offer plenty of space for your antics and adventures. Don't miss out on the chance to add a touch of humor and fun to your daily routine in this delightful abode! Visit this home today.

8. 2024-08-05
   soldstatus $283,000
9. 2024-08-01
   soldstatus $283,000 Sold 571-char remark

   Show marketing remark (571 chars)

   Amazing Pasture Views! Enjoy sunsets overlooking a private pasture and pond from your roomy mid century ranch! With new paint and fresh carpet this beautiful home is move in ready! This home is an amazing opportunity to live in a tranquil setting with no restrictions. Just 25 minutes to downtown Huntsville and on almost a full acre, there are endless opportunities for gardening and outdoor activities. Large bedrooms and spacious living areas make for a comfortable lifestyle. Incredible curb appeal with a side entry 2 Car garage and ample room for a detached garage!

10. 2024-07-04
    status Pending 571-char remark

    Show marketing remark (571 chars)

    Amazing Pasture Views! Enjoy sunsets overlooking a private pasture and pond from your roomy mid century ranch! With new paint and fresh carpet this beautiful home is move in ready! This home is an amazing opportunity to live in a tranquil setting with no restrictions. Just 25 minutes to downtown Huntsville and on almost a full acre, there are endless opportunities for gardening and outdoor activities. Large bedrooms and spacious living areas make for a comfortable lifestyle. Incredible curb appeal with a side entry 2 Car garage and ample room for a detached garage!

11. 2024-06-12
    price $275,000 571-char remark

    Show marketing remark (571 chars)

    Amazing Pasture Views! Enjoy sunsets overlooking a private pasture and pond from your roomy mid century ranch! With new paint and fresh carpet this beautiful home is move in ready! This home is an amazing opportunity to live in a tranquil setting with no restrictions. Just 25 minutes to downtown Huntsville and on almost a full acre, there are endless opportunities for gardening and outdoor activities. Large bedrooms and spacious living areas make for a comfortable lifestyle. Incredible curb appeal with a side entry 2 Car garage and ample room for a detached garage!

12. 2024-05-30
    price $289,000 571-char remark

    Show marketing remark (571 chars)

    Amazing Pasture Views! Enjoy sunsets overlooking a private pasture and pond from your roomy mid century ranch! With new paint and fresh carpet this beautiful home is move in ready! This home is an amazing opportunity to live in a tranquil setting with no restrictions. Just 25 minutes to downtown Huntsville and on almost a full acre, there are endless opportunities for gardening and outdoor activities. Large bedrooms and spacious living areas make for a comfortable lifestyle. Incredible curb appeal with a side entry 2 Car garage and ample room for a detached garage!

13. 2024-05-04
    listed $299,000 Active 571-char remark

    Show marketing remark (571 chars)

    Amazing Pasture Views! Enjoy sunsets overlooking a private pasture and pond from your roomy mid century ranch! With new paint and fresh carpet this beautiful home is move in ready! This home is an amazing opportunity to live in a tranquil setting with no restrictions. Just 25 minutes to downtown Huntsville and on almost a full acre, there are endless opportunities for gardening and outdoor activities. Large bedrooms and spacious living areas make for a comfortable lifestyle. Incredible curb appeal with a side entry 2 Car garage and ample room for a detached garage!

ⓘ 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: $1,283 · $107/mo
• Projected year-2 tax: $1,283 · $107/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,559
• − Mortgage interest: −$11,198
• − Property taxes: −$1,283
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$5,815
• Taxable loss: −$5,386
• Est. tax savings @ 24.0%: +$1,293
• After-tax cash flow: $-488/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 County
• NCES district ID: 0102220
• Math proficiency: 27% ▼ -32.00%
• Reading proficiency: 56% ▼ -1.00%
• Median HH income: $66,058
• Composite: 37.15/100
• National rank: #4483
• State rank: #19 of 129 in AL

Livability — Harvest

• Score: 72/100
• State rank: #27
• US rank: #5986

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 30,710
• Population (ZIP): 13,977

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 (72%)
• Race & ethnicity: White 72% Black 17% Hispanic / Latino 7% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 149.14%
• Current HPI: 666.8602
• 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

-26.8% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $218,900 VMLS
• 2026-04-01 Listed $233,950 VMLS
• 2024-08-05 Sold (Public Records) $283,000 Public Records
• 2024-08-01 Sold (MLS) $283,000 VMLS
• 2024-07-04 Pending — VMLS
• 2024-06-12 Price Changed $275,000 VMLS
• 2024-05-30 Price Changed $289,000 VMLS
• 2024-05-04 Listed $299,000 VMLS

Property tax history

+13.4%/yr

Latest (2024): $1,283 · +0.0% YoY. Source: county tax records.