104 John Walker Cir Unit A,B,C,D · Huntsville, AL 35749

$755,000

None bd · None ba · — sqft · Condo · 674 Days on market

Built 1988 Fair condition ↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location near Madison Hospital, Toyota, Polaris, Redstone Arsenal, shopping and restaurants. Four 3 bedroom/2 bath townhomes in 2 full brick buildings. All units are occupied. 2 units have new carpet and new paint. Huge lot with room to build more units. Tenants pay all utilities and services. 48 hours notice to show - tenant occupied. Please do not disturb tenants.

Key facts

• 8 parking spots
• Built 1988
• Listed 674 days

What this means for you Summary

Snapshot

• This is a condo listed at $755k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-4k ($-45k/yr) — negative.
• To cash-flow at today's rent, offer at most $208k (72.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (75.9% below list).
• Recommended offer: $182k (75.9% below list) — sets the bar for 1% rule.
• Cap rate 0.3% vs local median 3.8% in Huntsville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• 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: Rents flat; 666 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $23k 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 674 days — a 12% lower offer ($664k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $40k (5%) 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 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,842 (75.9% 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 674 days. Have you received any prior offers? Is the seller open to a 76% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.24% ✗
• Cap rate: 0.28%
• Cash-on-cash: -21.46%
• DSCR: 0.05
• GRM: 34.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -63.5%
• Equity multiple: -0.74×
• Total profit: $-367,056
• Equity at exit: $112,573

10-year hold

• IRR: —
• Equity multiple: -2.05×
• Total profit: $-645,007
• Equity at exit: $65,279

Cash invested: $211,400 (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 35749

• Home prices YoY: -5.4%
• Rents YoY: 0.8%
• Active inventory: 666
• Price-to-rent: 34.6×

Monthly cashflow live

• Estimated rent: $1,818 high
• Mortgage (P&I): −$3,959
• Tax est. 1.5%: −$944 /mo · $11,325/yr
• Insurance: −$315
• HOA: −$0
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-3,781

Break-even live

Break-even rent $6,605

Max offer price $207,871

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: $188,750
• Closing costs: $22,650
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 Gibbon Dr Harvest, AL	3.0	2.0	1500	$1,625	$1.08	44d	1	0.26mi
117 Water Oak Ct Harvest, AL	3.0	2.0	1400	$1,650	$1.18	43d	1	0.53mi
115 Sabel Cir Madison, AL	3.0	2.5	1412	$1,698	$1.20	13d	1	0.68mi
30000 Abbeywood Ln Harvest, AL	3.0	2.0	1618	$1,600	$0.99	23d	1	1.08mi
7403 Wall Triana Hwy Madison, AL	3.0	2.0	1512	$1,495	$0.99	23d	1	1.09mi
29889 Glenrose Way Harvest, AL	3.0	2.0	1670	$1,600	$0.96	23d	1	1.20mi
15881 Elaine Ct Unit 1250617P Harvest, AL	3.0	2.0	2497	$4,891	$1.96	13d	1	1.32mi
324 Willow Oak Dr Harvest, AL	3.0	2.0	1226	$1,850	$1.51	13d	1	1.33mi
17439 Morgan Dr Harvest, AL	3.0	2.0	1193	$1,550	$1.30	21d	1	1.38mi
113 Suffolk Dr Madison, AL	3.0	2.0	1453	$1,800	$1.24	43d	1	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $755,000 Active 674 DOM
2. 2026-06-17
   days on market $755,000 Active 673 DOM
3. 2026-06-16
   days on market $755,000 Active 672 DOM
4. 2026-06-15
   days on market $755,000 Active 671 DOM
5. 2026-06-14
   days on market $755,000 Active 669 DOM
6. 2026-06-10
   days on market $755,000 Active 666 DOM
7. 2026-06-09
   days on market $755,000 Active 665 DOM
8. 2026-06-08
   days on market $755,000 Active 664 DOM
9. 2026-06-07
   days on market $755,000 Active 663 DOM
10. 2026-06-02
    days on market $755,000 Active 658 DOM
11. 2026-06-01
    days on market $755,000 Active 657 DOM
12. 2026-05-31
    days on market $755,000 Active 656 DOM
13. 2026-05-30
    days on market $755,000 Active 655 DOM
14. 2025-03-23
    price $755,000 381-char remark

    Show marketing remark (381 chars)

    Great location near Madison Hospital, Toyota, Polaris, Redstone Arsenal, shopping and restaurants. Four 3 bedroom/2 bath townhomes in 2 full brick buildings. All units are occupied. 2 units have new carpet and new paint. Huge lot with room to build more units. Tenants pay all utilities and services. 48 hours notice to show - tenant occupied. Please do not disturb tenants.

15. 2024-08-13
    listed $795,000 Active 381-char remark

    Show marketing remark (381 chars)

    Great location near Madison Hospital, Toyota, Polaris, Redstone Arsenal, shopping and restaurants. Four 3 bedroom/2 bath townhomes in 2 full brick buildings. All units are occupied. 2 units have new carpet and new paint. Huge lot with room to build more units. Tenants pay all utilities and services. 48 hours notice to show - tenant occupied. Please do not disturb tenants.

16. 2024-06-14
    historical $995
17. 2024-06-02
    listed $995

ⓘ 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 5/10 Major 6 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $21,821
• − Mortgage interest: −$42,292
• − Property taxes: −$11,325
• − Insurance: −$3,775
• − Repairs & maintenance: −$1,746
• − Management: −$1,746
• − Depreciation: −$21,964
• Taxable loss: −$61,026
• Est. tax savings @ 24.0%: +$14,646
• After-tax cash flow: $-30,727/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

A moderate rehab is needed to address exterior and interior wear, with painting being the highest-ROI update for both resale and rental value.

Repairs flagged

• Minor exterior brick — Weathered appearance
• Minor interior walls/paint — No visible damage

Value-add opportunities

• Both paint exterior — Enhances curb appeal and resale value
• Both paint interior walls — Improves interior appearance and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior brick · Weathered appearance	Minor	$500–3,000
interior walls/paint · No visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and resale value ↑
• Both paint interior walls — Improves interior appearance and rental appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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

• County: Madison County · 380,832 people
• City population: 220,435
• Metro: Huntsville, AL
• Population (ZIP): 30,710
• Household income: $103,901
• Rent vs Own: 12.4% rent · 87.6% own
• Severe rent burden: 174.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Black 29% Two or more races 7% Hispanic / Latino 4% Asian 2%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Korean 1% Other Indo-European 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: ▼ -16.54%
• Current HPI: 291.1184
• Rent YoY: ▲ 0.81%
• 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

-5.0% since first listed

4 events — show timeline

• 2025-03-23 Price Changed $755,000 VMLS
• 2024-08-13 Listed $795,000 VMLS
• 2024-06-14 Rental Removed $995 VMLS
• 2024-06-02 Listed for Rent $995 VMLS