1103 W Washington St · Athens, AL 35611

$200,000

3 bd · 1.0 ba · 1,118 sqft · SingleFamily public records · 12 Days on market

Built 1965 10,454 sqft lot $179/sqft · 10% below area Est $239k · 16% under

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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).

• ARV discount +14.9/15.0
• Cash flow +14.8/30.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• 1% rule +3.1/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment property! This 3 bedroom 1 bath rancher is conveniently located to downtown Athens, the Boys and Girls club and schools. Property IN NEED OF MAJOR TLC.

Key facts

• Renovated home
• New cabinets
• New light fixtures

Tags

• RENOVATED HOME
• REFINISHED ORIGINAL HARDWOODS
• NEW LVP FLOORING
• NEW CABINETS
• NEW COUNTERTOPS
• NEW LIGHT FIXTURES

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Christopher Acres

Exterior

• Parking: Attached carport; Carport (1 space); Concrete driveway
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single family residence; One level; Built in 1965; Residential property
• Construction: Brick construction; One-story; No fireplaces
• Exterior features: Concrete driveway; Deck

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crawl space basement; 7 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $54 ($646/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (19.4% below list).
• Recommended offer: $161k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Athens City (town): math 27% / reading 51% proficiency, ranked #29 of 129 in AL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Athens Middle School (math 15% / reading 45%, grade F, #121 of 257 statewide, top 50%, 958 students, 59% FRL); Athens High School (math 29% / reading 38%, grade F, #56 of 305 statewide, top 18%, 1,173 students, 51% FRL).
• Market conditions: Rents rising (+1.2%/yr); 546 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($57k/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.
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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.
• Current owner paid $18k; list at $200k implies a 1011% gain — meaningful room to come down on a strong offer.

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 $161,117 (19.4% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.15%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $239,439
• List price: $200,000
• Delta: -16.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 Gordon Dr	0.24mi	3/1.0	1,125 (+1%)	8mo	$169,900	$151	81
108 Bullington Rd	0.42mi	3/1.5	1,097 (-2%)	2mo	$185,000	$169	74
107 Virginia Dr	0.28mi	2/1.0 (-1)	1,230 (+10%)	1mo	$175,000	$142	65
1404 Tower St	0.50mi	3/1.0	1,050 (-6%)	8mo	$182,000	$173	60
205 N Debeth Plz	0.64mi	2/1.0 (-1)	1,091 (-2%)	4mo	$116,000	$106	58
1801 Highway 72 West	0.55mi	3/1.0	1,032 (-8%)	5mo	$160,000	$155	57
203 N Pat St	0.71mi	3/2.0	1,140 (+2%)	9mo	$220,000	$193	52
213 Sunset Dr	0.68mi	3/2.0	1,075 (-4%)	7mo	$174,500	$162	52
603 Schilling St	0.44mi	3/2.0	1,235 (+10%)	12mo	$187,000	$151	48
1416 12th St	0.48mi	3/1.0	972 (-13%)	10mo	$110,000	$113	47
1801 W Hobbs St	0.55mi	2/2.0 (-1)	1,230 (+10%)	12mo	$250,000	$203	38
16665 Becky St	0.70mi	3/1.5	1,275 (+14%)	11mo	$218,000	$171	33

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 · 1.23% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.43×
• Total profit: $-31,878
• Equity at exit: $29,821

10-year hold

• IRR: -11.1%
• Equity multiple: 0.38×
• Total profit: $-34,821
• Equity at exit: $17,292

Cash invested: $56,000 (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 35611

• Rents YoY: 1.2%
• Active inventory: 546
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,611 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$87 /mo · $1,042/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $54

Break-even live

Break-even rent $1,543

Max offer price $200,000

Occupancy floor 92%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Florence St Athens, AL	3.0	1.0	1260	$1,850	$1.47	44d	1	0.07mi
16129 Cohen Dr Athens, AL	2.0–4.0	2.0–2.5	1650	$1,658	$1.00	14d	9	0.57mi
514 Brownsferry St Athens, AL	3.0	1.0	953	$1,045	$1.10	44d	1	0.87mi
16917 Orleans Dr Unit 32 Athens, AL	3.0	2.0	1474	$1,900	$1.29	14d	1	1.00mi
314 Browns Ferry St Athens, AL	3.0	1.0	950	$1,045	$1.10	44d	1	1.01mi
707 Hine St N Athens, AL	3.0	1.5	1400	$1,450	$1.04	44d	1	1.04mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,239	$1.03	21d	1	1.09mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,469	$1.22	14d	1	1.09mi
100 Henry Dr Athens, AL	2.0–3.0	2.0	1073	$1,249	$1.16	14d	4	1.27mi
17962 Arrowhead Dr Athens, AL	2.0	2.0	1043	$1,024	$0.98	44d	1	1.30mi
710 S Clinton St Athens, AL	1.0–3.0	1.0–2.0	1056	$1,400	$1.33	14d	6	1.31mi

Listing history 4 events

1. 2026-05-14
   listed $200,000 Active 683-char remark
2. 2025-11-01
   listed $239,900 Active
3. 2015-12-01
   soldstatus $18,000

   Show marketing remark (169 chars)

   Great investment property! This 3 bedroom 1 bath rancher is conveniently located to downtown Athens, the Boys and Girls club and schools. Property IN NEED OF MAJOR TLC.

4. 2015-10-19
   listed $25,000

   Show marketing remark (169 chars)

   Great investment property! This 3 bedroom 1 bath rancher is conveniently located to downtown Athens, the Boys and Girls club and schools. Property IN NEED OF MAJOR TLC.

ⓘ 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: $1,042 · $87/mo
• Projected year-2 tax: $1,042 · $87/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) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,334
• − Mortgage interest: −$11,203
• − Property taxes: −$1,042
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$5,818
• Taxable loss: −$2,823
• Est. tax savings @ 24.0%: +$678
• After-tax cash flow: $1,323/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: Athens City
• NCES district ID: 0100120
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 51% ▬ 0.00%
• Median HH income: $45,479
• Composite: 33.14/100
• National rank: #5555
• State rank: #29 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

• Census place: Athens, AL
• County: Limestone County · 80,439 people
• City population: 55,492
• Metro: Huntsville, AL
• Population (ZIP): 29,969
• Household income: $57,377
• Rent vs Own: 40.4% rent · 59.6% own
• Severe rent burden: 811.0

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 (66%)
• Race & ethnicity: White 66% Black 17% Hispanic / Latino 10% Two or more races 7% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7% German/W. Germanic 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: ▼ -115.98%
• Current HPI: 185.0264
• Rent YoY: ▲ 1.23%
• 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

+700.0% since first listed

5 events — show timeline

• 2026-05-26 Pending — VMLS
• 2026-05-14 Listed $200,000 VMLS
• 2025-11-01 Listed $239,900 VMLS
• 2015-12-01 Sold (MLS) $18,000 VMLS
• 2015-10-19 Listed $25,000 VMLS

Property tax history

+5.7%/yr

Latest (2025): $1,042 · +12.9% YoY. Source: county tax records.