21240 Alabama Highway 99 · Athens, AL 35614

$165,000

3 bd · 1.0 ba · 1,084 sqft · SingleFamily public records · 27 Days on market

Built 1985 0.80 ac lot $152/sqft · 17% below area Est $199k · 17% under

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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).

• Cash flow +15.8/30.0
• ARV discount +15.0/15.0
• DSCR +4.9/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Peaceful country living just minutes from town. This property offers the perfect blend of rural charm and everyday convenience. Situated on a spacious lot, this home provides plenty of room to enjoy outdoor living, weather your looking to relax, entertain, or expand.

Key facts

• 0.8 acre lot
• Garage
• Listed 27 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Attached garage; Detached carport; Garage door opener
• Utilities: Septic tank
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Built (not new construction)
• Exterior features: Approximately 0.8-acre lot (about 140 x 250); Subdivision: Dawson Dupree

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $76 ($908/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 $132k (20.2% below list).
• Recommended offer: $132k (20.2% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: West Limestone High School (math 11% / reading 32%, grade F, #156 of 305 statewide, top 52%, 733 students, 60% FRL) — zoned schools average 60% FRL vs 40% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 74 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); 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 $5k 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

• It's been on market 27 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $80k; list at $165k implies a 106% 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 $131,737 (20.2% below list)

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: 0.80% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.97%
• DSCR: 1.09
• GRM: 10.4

CMA / ARV

• ARV (median comp): $198,959
• List price: $165,000
• Delta: -17.07%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21498 Alabama Highway 99	0.26mi	3/1.0	1,164 (+7%)	5mo	$190,000	$163	71
15359 Fort Hampton Rd	0.53mi	3/2.0	1,134 (+5%)	0mo	$199,000	$175	63
20645 Alabama Highway 99	0.60mi	2/1.0 (-1)	1,191 (+10%)	13mo	$210,000	$176	40

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: -13.2%
• Equity multiple: 0.52×
• Total profit: $-22,006
• Equity at exit: $24,602

10-year hold

• IRR: -4.4%
• Equity multiple: 0.71×
• Total profit: $-13,314
• Equity at exit: $14,266

Cash invested: $46,200 (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 35614

• Home prices YoY: -12.7%
• Active inventory: 74
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $76

Break-even live

Break-even rent $1,222

Max offer price $165,000

Occupancy floor 89%

Sensitivity live

Price	-10% $169	-5% $122	+0% $76	+5% $29	+10% $-18
Rent	-10% $-28	-5% $24	+0% $76	+5% $128	+10% $180
Rate	-1.0pp $159	-0.5pp $118	base $76	+0.5pp $33	+1.0pp $-11

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20178 AL Highway 99 Athens, AL	3.0	2.0	1152	$1,395	$1.21	24d	1	1.06mi
19250 Lydia Corey Rd Athens, AL	2.0	1.0	800	$1,098	$1.37	24d	1	1.13mi
14286 Williams Rd Athens, AL	3.0	1.0	1100	$1,420	$1.29	44d	1	1.37mi

Listing history 3 events

1. 2026-05-15
   price $165,000 267-char remark
2. 2026-04-29
   listed $180,000 Active 267-char remark
3. 2010-04-27
   soldstatus $80,000

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $677 · $56/mo
• Expected delta: +$304/yr (+$25/mo · 81.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $15,808
• − Mortgage interest: −$9,243
• − Property taxes: −$372
• − Insurance: −$825
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$4,800
• Taxable loss: −$1,961
• Est. tax savings @ 24.0%: +$471
• After-tax cash flow: $1,379/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

• City population: 55,492
• Population (ZIP): 7,157

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 9% Two or more races 6% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 5% 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: ▼ -27.23%
• Current HPI: 186.7589
• 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

+106.2% since first listed

4 events — show timeline

• 2026-05-25 Pending — VMLS
• 2026-05-15 Price Changed $165,000 VMLS
• 2026-04-29 Listed $180,000 VMLS
• 2010-04-27 Sold (Public Records) $80,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $372 · +4.7% YoY. Source: county tax records.