166 Morning Dew Rd · Huntsville, AL 35773

$355,000

4 bd · 1.5 ba · 2,237 sqft · SingleFamily public records · 26 Days on market

Built 2023 7,840 sqft lot Est $353k · at est. $25/mo HOA · 1% of rent

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• Cash flow +7.1/30.0
• Livability +4.1/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.3/10.0
• 1% rule +0.8/10.0

Listing remarks

OPEN HOUSE SAT JUNE 6 12-2 & SUN JUNE 7 2-4 1% Lender Credit Availble. Immaculate and truly move-in ready! This beautifully maintained 4BR/3BA home offers an open-concept design perfect for everyday living and entertaining. The stylish kitchen features abundant cabinetry, pantry space, and overlooks the spacious main living area. The isolated primary suite is located downstairs and includes double vanities and a large walk-in closet. Upstairs you’ll find spacious secondary bedrooms along with a large bonus/loft area perfect for a media room, playroom, office, or additional living space. Enjoy relaxing evenings on the covered patio overlooking the fenced backyard.

Key facts

• Open-concept design
• Stylish kitchen
• Abundant cabinetry

Tags

• OPEN-CONCEPT DESIGN
• STYLISH KITCHEN
• ABUNDANT CABINETRY
• PANTRY SPACE
• ISOLATED PRIMARY SUITE
• DOUBLE VANITIES

Property features AI

Finance

• HOA & community: HOA with annual fee; Annual association fee of $300; Community pool; Common grounds; Curbs, sidewalks and street lights in the neighborhood; Subdivision: Gardens At Ivy Hills

Exterior

• Parking: Attached two-car garage with automatic door opener, garage faces front
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Built in 2023; Residential property
• Construction: Brick and vinyl siding construction; Slab foundation
• Exterior features: Curb and gutters; Sidewalk; Underground utilities; Concrete driveway; Covered patio

Interior

• Kitchen: Range; Dishwasher; Microwave; Refrigerator; Disposal
• Bedrooms: Total of 11 rooms (includes bedrooms and living spaces)
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating; Central cooling (2 units)
• Interior features: Security system
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-508 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (41.9% below list).
• Recommended offer: $206k (41.9% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.8% in Huntsville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Zoned schools: Madison Cross Roads Elementary School (math 14% / reading 48%, grade F, #360 of 627 statewide, top 58%, 1,035 students, 59% FRL); Sparkman Middle School (math 18% / reading 53%, grade F, #81 of 257 statewide, top 33%, 859 students, 60% FRL); Sparkman High School (math 28% / reading 37%, grade F, #58 of 305 statewide, top 19%, 1,738 students, 37% FRL) — zoned schools average 52% FRL vs 29% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 326 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Madison County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($350k) is reasonable based on typical stale-listing flexibility.

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 $206,228 (41.9% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.58% ✗
• Cap rate: 4.58%
• Cash-on-cash: -6.13%
• DSCR: 0.73
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $353,446
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 Cotita Dr	0.13mi	4/3.0	2,136 (-4%)	1mo	$370,006	$173	80
140 Ivy Vine Dr	0.13mi	4/3.0	2,136 (-4%)	8mo	$320,000	$150	74
124 Barn Trail Way	0.11mi	4/2.0	2,422 (+8%)	10mo	$278,000	$115	70
108 Cotita Dr	0.10mi	4/2.0	1,964 (-12%)	8mo	$351,500	$179	66
109 Magnolia Hill Ave	0.62mi	4/2.0	2,191 (-2%)	2mo	$375,479	$171	64
148 Beaver Brook Pl	0.09mi	4/2.5	1,963 (-12%)	10mo	$316,900	$161	64
124 Cotita Dr	0.18mi	4/2.0	1,964 (-12%)	8mo	$320,900	$163	62
196 Beaver Brook Pl	0.15mi	4/2.0	1,964 (-12%)	10mo	$294,000	$150	62
183 Beaver Brook Pl	0.06mi	4/2.5	2,572 (+15%)	8mo	$359,000	$140	62
139 Morning Dew Rd	0.17mi	4/2.5	2,548 (+14%)	6mo	$305,000	$120	60
162 Morning Dew Rd	0.34mi	4/2.5	2,055 (-8%)	9mo	$313,000	$152	59
149 Ivy Vine Dr	0.18mi	4/3.0	1,964 (-12%)	9mo	$309,900	$158	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.9%
• Equity multiple: 2.62×
• Total profit: $160,845
• Equity at exit: $319,812

10-year hold

• IRR: 18.2%
• Equity multiple: 6.02×
• Total profit: $498,765
• Equity at exit: $689,687

Cash invested: $99,400 (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 35773

• Home prices YoY: 28.8%
• Active inventory: 326
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,062 medium
• Mortgage (P&I): −$1,862
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$148
• HOA: −$25
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-508

Break-even live

Break-even rent $2,705

Max offer price $265,318

Occupancy floor —

Sensitivity live

Price	-10% $-307	-5% $-407	+0% $-508	+5% $-608	+10% $-709
Rent	-10% $-671	-5% $-589	+0% $-508	+5% $-426	+10% $-345
Rate	-1.0pp $-329	-0.5pp $-417	base $-508	+0.5pp $-600	+1.0pp $-693

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
147 Ivy Vine Dr Toney, AL	4.0	3.0	2136	$2,100	$0.98	25d	1	0.17mi
119 Beaver Brook Pl Toney, AL	4.0	2.5	2448	$2,000	$0.82	45d	1	0.26mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 18 events

1. 2026-06-22
   days on market $355,000 Active 26 DOM
2. 2026-06-18
   days on market $355,000 Active 23 DOM
3. 2026-06-17
   days on market $355,000 Active 22 DOM
4. 2026-06-16
   days on market $355,000 Active 21 DOM
5. 2026-06-15
   days on market $355,000 Active 20 DOM
6. 2026-06-14
   days on market $355,000 Active 18 DOM
7. 2026-06-10
   days on market $355,000 Active 15 DOM
8. 2026-06-09
   days on market $355,000 Active 14 DOM
9. 2026-06-08
   days on market $355,000 Active 13 DOM
10. 2026-06-07
    days on market $355,000 Active 12 DOM
11. 2026-06-03
    remarks 673-char remark
12. 2026-06-03
    days on market $355,000 Active 8 DOM
13. 2026-06-02
    days on market $355,000 Active 7 DOM
14. 2026-06-01
    days on market $355,000 Active 6 DOM
15. 2026-05-31
    days on market $355,000 Active 5 DOM
16. 2026-05-30
    remarks 646-char remark
17. 2026-05-30
    days on market $355,000 Active 4 DOM
18. 2026-05-26
    listed $355,000 Active

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,456 · $121/mo
• Expected delta: +$228/yr (+$19/mo · 18.6%)

ⓘ 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 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: $24,747
• − Mortgage interest: −$19,886
• − Property taxes: −$1,228
• − Insurance: −$1,775
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − HOA: −$300
• − Depreciation: −$10,327
• Taxable loss: −$12,728
• Est. tax savings @ 24.0%: +$3,055
• After-tax cash flow: $-3,037/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: 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

• City population: 220,435
• Population (ZIP): 13,977

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: Predominantly White (72%)
• Race & ethnicity: White 72% Black 17% Hispanic / Latino 7% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 3% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 149.14%
• Current HPI: 666.8602
• 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

1 event — show timeline

• 2026-05-26 Listed $355,000 VMLS

Property tax history

+181.9%/yr

Latest (2024): $1,228 · +181.9% YoY. Source: county tax records.