104 Lamirda Ct · Moores Mill, AL 35810

$194,500

3 bd · 1.0 ba · 1,178 sqft · SingleFamily public records · 67 Days on market

Built 1998 0.40 ac lot Est $212k · 8% under ↓ 10% since listing

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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 +12.3/30.0
• ARV discount +11.2/15.0
• DSCR +3.7/10.0
• Schools +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great investor or renovation opportunity! This 3 bedroom, 2 bath home needs work but offers tons of potential with a functional layout, great natural light, and generously sized rooms. The large backyard is a standout feature — ideal for future outdoor living, gardening, or added entertaining space. With the right updates, this property could become a beautiful primary home or strong income-producing investment. Conveniently located near shops, schools, and commuter routes. Home is sold as-is, where-is. Bring your vision, your contractor, and your offer!

Key facts

• Great natural light
• Large backyard
• Functional layout

Tags

• LARGE BACKYARD
• FUNCTIONAL LAYOUT
• GREAT NATURAL LIGHT
• GENEROUSLY SIZED ROOMS
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $-34 ($-408/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (14.7% below list).
• Recommended offer: $166k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.8% in Moores Mill — 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 66/100 on livability (#109 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.
• Zoned schools: Mt Carmel Elementary School (math 37% / reading 72%, grade C, #87 of 627 statewide, top 15%, 646 students, 34% FRL); Riverton Intermediate School (math 25% / reading 63%, grade D, #42 of 257 statewide, top 17%, 813 students, 36% FRL); Buckhorn High School (math 31% / reading 33%, grade F, #59 of 305 statewide, top 21%, 1,287 students, 34% FRL).
• Market conditions: Rents soft (-0.1%/yr); 337 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 39% 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 67 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.

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 $165,838 (14.7% 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 67 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 6.08%
• Cash-on-cash: -0.75%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $212,040
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 Colby Dr NE	0.43mi	3/2.0	1,158 (-2%)	9mo	$201,000	$174	66
138 Colby Dr	0.44mi	3/2.0	1,130 (-4%)	4mo	$240,000	$212	65
125 Colby Dr NE	0.34mi	3/2.0	1,191 (+1%)	22mo	$210,000	$176	60
295 Baltimore Hill Rd	0.48mi	3/2.0	1,251 (+6%)	11mo	$225,000	$180	54
142 Colby Dr	0.47mi	2/2.0 (-1)	1,200 (+2%)	16mo	$205,000	$171	53
117 Settlement Dr	0.53mi	3/2.0	1,335 (+13%)	18mo	$250,900	$188	34

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: -20.9%
• Equity multiple: 0.29×
• Total profit: $-38,519
• Equity at exit: $29,001

10-year hold

• IRR: -23.3%
• Equity multiple: -0.01×
• Total profit: $-55,013
• Equity at exit: $16,817

Cash invested: $54,460 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,658 medium
• Mortgage (P&I): −$1,020
• Tax est. 1.5%: −$243 /mo · $2,918/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-34

Break-even live

Break-even rent $1,701

Max offer price $189,576

Occupancy floor 97%

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 Colby Dr NE Huntsville, AL	3.0	2.0	1239	$1,395	$1.13	23d	1	0.34mi
147 Wolfe Ln Huntsville, AL	3.0	3.0	1442	$2,100	$1.46	13d	1	1.34mi
149 Wolfe Ln Huntsville, AL	3.0	3.0	1442	$2,000	$1.39	13d	1	1.34mi

Listing history 11 events

1. 2026-06-10
   days on market $194,500 Active 67 DOM
2. 2026-06-09
   days on market $194,500 Active 66 DOM
3. 2026-06-08
   days on market $194,500 Active 65 DOM
4. 2026-06-07
   days on market $194,500 Active 64 DOM
5. 2026-06-02
   days on market $194,500 Active 59 DOM
6. 2026-06-01
   days on market $194,500 Active 58 DOM
7. 2026-05-31
   days on market $194,500 Active 57 DOM
8. 2026-05-30
   status $194,500 Active 56 DOM
9. 2026-02-23
   status Pending
10. 2026-01-28
    price $194,500
11. 2025-12-29
    listed $215,400 Active

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $19,901
• − Mortgage interest: −$10,895
• − Property taxes: −$2,918
• − Insurance: −$972
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − Depreciation: −$5,658
• Taxable loss: −$3,727
• Est. tax savings @ 24.0%: +$894
• After-tax cash flow: $486/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 — Moores Mill

• Score: 66/100
• State rank: #109
• US rank: #11986

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

• Census place: Moores Mill, AL
• County: Madison County · 380,832 people
• 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

-9.7% since first listed

3 events — show timeline

• 2026-02-23 Pending — VMLS
• 2026-01-28 Price Changed $194,500 VMLS
• 2025-12-29 Listed $215,400 VMLS