706 West Washington St · Athens, AL 35611

$74,900

3 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 50 Days on market

Built 1929 0.30 ac lot $56/sqft · 58% below area ↓ 6% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

AVAILABLE FOR SALE AS A PACKAGE DEAL INCLUDING 704 West Washington right next door. This is a 3 bedroom 1 bathroom property, with an office space. SOLD AS IS WHERE IS.

Key facts

• 0.3 acre lot
• Listed 50 days

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Metes And Bounds

Exterior

• Parking: No on-site parking
• Utilities: Public sewer
• Home design: Single-family residence; One story; Log construction
• Construction: Log construction
• Exterior features: Covered patio

Interior

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

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $518 of loan paydown is wiped out by about $2k 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 50 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.88% ✓
• Cap rate: 16.39%
• Cash-on-cash: 36.05%
• DSCR: 2.60
• GRM: 4.4

CMA / ARV

• ARV (median comp): $192,347
• List price: $74,900
• Delta: -61.06%
• 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
804 S Houston St	0.39mi	3/2.0	1,335 (-0%)	6mo	$207,500	$155	72
1203 Houston St S	0.58mi	3/1.0	1,325 (-1%)	5mo	$175,000	$132	67
402 S 6th St	0.52mi	3/1.0	1,378 (+3%)	5mo	$165,000	$120	67
505 1st St	0.28mi	3/2.0	1,527 (+14%)	3mo	$184,900	$121	57
24490 Colorado Ln	0.71mi	3/2.0	1,375 (+3%)	5mo	$250,990	$183	54
1500 Buchanan St	0.71mi	4/2.0 (+1)	1,375 (+3%)	1mo	$209,900	$153	53
1502 S Houston St	0.72mi	3/2.0	1,407 (+5%)	7mo	$224,000	$159	49
1227 W Hobbs St	0.49mi	3/2.0	1,500 (+12%)	6mo	$149,000	$99	48
16645 Aspen Ln	0.67mi	3/2.0	1,479 (+10%)	1mo	$261,285	$177	47
16640 Aspen Ln	0.69mi	3/2.0	1,479 (+10%)	4mo	$257,265	$174	43
16639 Aspen Ln	0.68mi	3/2.0	1,517 (+13%)	2mo	$269,989	$178	41
1400 SW Jefferson St	0.71mi	3/2.0	1,468 (+10%)	7mo	$199,000	$136	41

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-1,382
• Equity at exit: $11,168

10-year hold

• IRR: 5.0%
• Equity multiple: 1.32×
• Total profit: $6,777
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$393
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $204

Break-even live

Break-even rent $1,154

Max offer price $74,900

Occupancy floor 81%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
514 Brownsferry St Athens, AL	3.0	1.0	953	$1,045	$1.10	43d	1	0.19mi
314 Browns Ferry St Athens, AL	3.0	1.0	950	$1,045	$1.10	43d	1	0.25mi
1003 E Washington St Athens, AL	4.0	3.0	1768	$1,600	$0.90	21d	1	0.37mi
100 Henry Dr Athens, AL	2.0–3.0	2.0	1073	$1,249	$1.16	13d	4	0.72mi
707 Hine St N Athens, AL	3.0	1.5	1400	$1,450	$1.04	43d	1	0.74mi
1601 Florence St Athens, AL	3.0	1.0	1260	$1,850	$1.47	43d	1	0.81mi
710 S Clinton St Athens, AL	1.0–3.0	1.0–2.0	1056	$1,400	$1.33	13d	6	0.83mi
426 Rogers St Athens, AL	3.0	2.0	1738	$1,550	$0.89	13d	1	1.05mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,469	$1.22	13d	1	1.06mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,239	$1.03	21d	1	1.06mi
17896 Sallows Dr Athens, AL	3.0	2.0	1450	$1,595	$1.10	23d	1	1.15mi
402 Crutcher Cir Athens, AL	3.0	2.5	1108	$2,000	$1.81	43d	1	1.23mi
17662 Antlers Pass Athens, AL	3.0	2.0	1600	$1,650	$1.03	43d	1	1.31mi
16129 Cohen Dr Athens, AL	2.0–4.0	2.0–2.5	1650	$1,658	$1.00	13d	9	1.34mi
17962 Arrowhead Dr Athens, AL	2.0	2.0	1043	$1,024	$0.98	43d	1	1.41mi

Listing history 16 events

1. 2026-06-18
   days on market $74,900 Active 50 DOM
2. 2026-06-17
   days on market $74,900 Active 49 DOM
3. 2026-06-16
   days on market $74,900 Active 48 DOM
4. 2026-06-15
   days on market $74,900 Active 47 DOM
5. 2026-06-14
   days on market $74,900 Active 45 DOM
6. 2026-06-10
   days on market $74,900 Active 42 DOM
7. 2026-06-09
   days on market $74,900 Active 41 DOM
8. 2026-06-08
   days on market $74,900 Active 40 DOM
9. 2026-06-07
   days on market $74,900 Active 39 DOM
10. 2026-06-05
    days on market $74,900 Active 36 DOM
11. 2026-06-03
    days on market $74,900 Active 35 DOM
12. 2026-06-02
    pricedays on market $74,900 Active 34 DOM
13. 2026-06-01
    days on market $79,900 Active 33 DOM
14. 2026-05-31
    days on market $79,900 Active 32 DOM
15. 2026-05-30
    days on market $79,900 Active 31 DOM
16. 2026-04-29
    listed $79,900 Active 167-char remark

ⓘ 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: $730 · $61/mo
• Projected year-2 tax: $730 · $61/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 7/10 Severe FEMA zone AE · 95% 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 18% 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: $16,934
• − Mortgage interest: −$4,196
• − Property taxes: −$730
• − Insurance: −$5,493
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$2,179
• Taxable income: $1,628
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $2,051/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

-6.3% since first listed

2 events — show timeline

• 2026-06-01 Price Changed $74,900 VMLS
• 2026-04-29 Listed $79,900 VMLS

Property tax history

+6.9%/yr

Latest (2025): $730 · +12.6% YoY. Source: county tax records.