23634 Miller Rd · Athens, AL 35613

$149,000

3 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 4 Days on market

Built 1991 0.50 ac lot $127/sqft · 23% below area Est $175k · 15% under

---

Why this score? — see what drove the B 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 +29.8/30.0
• ARV discount +14.2/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute ,3 bedroom 1bath home on a large treed lot. Well maintained brick and Vinyl home, Freshly painted. LVP flooring in living room, 1 bedroom and Kitchen. Full bath with tile floors. All Kitchen appliances to remain, Tile back splash. 1 Car garage with opener. 29x6 Covered front porch and a 22x14 covered patio with privacy fence. Paved drive . Roof approx 8 years old.

Key facts

• Covered front porch
• Large lot
• Bonus flex space

Tags

• BONUS FLEX SPACE
• COVERED FRONT PORCH
• COVERED BACK PORCH
• FULLY FENCED BACKYARD
• LARGE LOT

Property features AI

Finance

• Other: Living area approximately 1,067 square feet
• HOA & community: No homeowners association; Subdivision: Metes And Bounds

Exterior

• Parking: Attached garage; Concrete driveway
• Utilities: Public water service; Septic sewer
• Home design: Single-family residence; Built in 1991; Residential property
• Construction: No fireplaces
• Exterior features: Half-acre lot (approx. 0.5 acre); Public water; Septic tank

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Crawl space basement; One-level home

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 10.7% vs local median 3.6% 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: Elkmont Elementary School (math 27% / reading 42%, grade F, #296 of 627 statewide, top 49%, 376 students, 63% FRL); Elkmont High School (math 9% / reading 34%, grade F, #156 of 305 statewide, top 52%, 643 students, 61% FRL) — zoned schools average 62% FRL vs 40% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 806 active listings in the ZIP; solid renter incomes; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 15y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.21% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.80%
• DSCR: 1.70
• GRM: 6.9

CMA / ARV

• ARV (median comp): $175,000
• List price: $149,000
• Delta: -14.86%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23634 Miller Rd	0.00mi	3/1.0	1,067 (-9%)	0mo	$150,000	$141	84

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.26×
• Total profit: $10,767
• Equity at exit: $22,216

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $54,136
• Equity at exit: $12,883

Cash invested: $41,720 (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 35613

• Home prices YoY: -33.9%
• Active inventory: 806
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,799 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$29 /mo · $347/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $549

Break-even live

Break-even rent $1,104

Max offer price $149,000

Occupancy floor 64%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending 194-char remark
2. 2026-05-01
   listed $149,000 Active 194-char remark
3. 2020-10-28
   soldstatus $108,000 Sold 379-char remark

   Show marketing remark (379 chars)

   Cute ,3 bedroom 1bath home on a large treed lot. Well maintained brick and Vinyl home, Freshly painted. LVP flooring in living room, 1 bedroom and Kitchen. Full bath with tile floors. All Kitchen appliances to remain, Tile back splash. 1 Car garage with opener. 29x6 Covered front porch and a 22x14 covered patio with privacy fence. Paved drive . Roof approx 8 years old.

4. 2020-10-23
   soldstatus $108,000
5. 2020-09-07
   status Pending 379-char remark

   Show marketing remark (379 chars)

   Cute ,3 bedroom 1bath home on a large treed lot. Well maintained brick and Vinyl home, Freshly painted. LVP flooring in living room, 1 bedroom and Kitchen. Full bath with tile floors. All Kitchen appliances to remain, Tile back splash. 1 Car garage with opener. 29x6 Covered front porch and a 22x14 covered patio with privacy fence. Paved drive . Roof approx 8 years old.

6. 2020-09-03
   listed $105,900 Active 379-char remark

   Show marketing remark (379 chars)

   Cute ,3 bedroom 1bath home on a large treed lot. Well maintained brick and Vinyl home, Freshly painted. LVP flooring in living room, 1 bedroom and Kitchen. Full bath with tile floors. All Kitchen appliances to remain, Tile back splash. 1 Car garage with opener. 29x6 Covered front porch and a 22x14 covered patio with privacy fence. Paved drive . Roof approx 8 years old.

7. 2012-01-12
   soldstatus $54,000

   Show marketing remark (187 chars)

   Bonus room could be used as 3rd bedroom. Treed lot, lots of privacy - privacy fence on both sides. List price assumes appliances do not work. Sold "as is." New roof on property.

8. 2011-08-31
   listed $56,900

   Show marketing remark (187 chars)

   Bonus room could be used as 3rd bedroom. Treed lot, lots of privacy - privacy fence on both sides. List price assumes appliances do not work. Sold "as is." New roof on property.

ⓘ 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: $347 · $29/mo
• Projected year-2 tax: $611 · $51/mo
• Expected delta: +$264/yr (+$22/mo · 76.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $21,593
• − Mortgage interest: −$8,346
• − Property taxes: −$347
• − Insurance: −$745
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$4,335
• Taxable income: $4,366
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $5,543/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): 25,523
• Household income: $100,845
• Rent vs Own: 13.3% rent · 86.7% own
• Severe rent burden: 118.0

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 (83%)
• Race & ethnicity: White 83% Black 7% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3% Vietnamese 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: ▼ -88.56%
• Current HPI: 173.0763
• Rent YoY: —
• 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

+163.6% since first listed

10 events — show timeline

• 2026-06-09 Sold (Public Records) $150,000 Public Records
• 2026-06-04 Sold (MLS) $150,000 VMLS
• 2026-05-05 Pending — VMLS
• 2026-05-01 Listed $149,000 VMLS
• 2020-10-28 Sold (MLS) $108,000 VMLS
• 2020-10-23 Sold (Public Records) $108,000 Public Records
• 2020-09-07 Pending — VMLS
• 2020-09-03 Listed $105,900 VMLS
• 2012-01-12 Sold (MLS) $54,000 VMLS
• 2011-08-31 Listed $56,900 VMLS

Property tax history

+7.1%/yr

Latest (2025): $347 · +10.9% YoY. Source: county tax records.