111 Sycamore Pl · Athens, AL 35611

$199,500

3 bd · 1.0 ba · 1,368 sqft · Townhouse public records · 111 Days on market

Built 1995 $146/sqft · 15% below area Est $246k · 19% 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 +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom and 2 bathroom townhome is definitely “move in ready”. All lower level floors are hardwood. The large living room has a vaulted ceiling and large master bedroom has walk-in closet. All appliances remain. There is a 2 car garage is in the back and a 16x24 covered front porch is in the front. There are no HOA fees. This lovely townhome is 5 minutes from downtown Athens with lots of restaurants, shopping and more near by. The Athens hospital is just a few minutes away.

Key facts

• Covered front porch
• Walk-in closet
• No hoa fees

Tags

• HARDWOOD FLOORS
• WALK-IN CLOSET
• COVERED FRONT PORCH
• NO HOA FEES
• 5 MINUTES FROM DOWNTOWN
• NEAR RESTAURANTS AND SHOPPING

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $51 ($607/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 $155k (22.1% below list).
• Recommended offer: $155k (22.1% 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.
• Market conditions: Rents rising (+1.2%/yr); 546 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 32% 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

• It's been on market 111 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $81k; list at $200k implies a 145% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,339 (22.1% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.78% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• GRM: 10.7

CMA / ARV

• ARV (median comp): $245,900
• List price: $199,500
• Delta: -18.87%
• 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
162 Sycamore Pl	0.05mi	3/2.0	1,296 (-5%)	1mo	$215,000	$166	84
113 Sycamore Pl	0.01mi	3/2.0	1,420 (+4%)	8mo	$205,000	$144	83
105 Canterbury Cir	0.23mi	2/2.0 (-1)	1,340 (-2%)	4mo	$191,100	$143	73
202 Santana Dr	0.15mi	2/2.0 (-1)	1,476 (+8%)	8mo	$220,000	$149	65
110 Santana Dr	0.09mi	2/2.0 (-1)	1,514 (+11%)	6mo	$240,000	$159	64
139 Canterbury Cir	0.28mi	2/2.0 (-1)	1,486 (+9%)	1mo	$225,000	$151	63
316 Santana Dr	0.25mi	2/2.0 (-1)	1,488 (+9%)	3mo	$225,000	$151	62
402 Santana Dr	0.29mi	2/2.0 (-1)	1,416 (+4%)	13mo	$225,000	$159	61
104 Wyndham Cir	0.10mi	2/2.0 (-1)	1,526 (+12%)	12mo	$243,000	$159	57
137 Canterbury Cir	0.28mi	2/2.0 (-1)	1,540 (+13%)	5mo	$237,000	$154	53
17704 Antlers Pass	0.70mi	3/2.0	1,440 (+5%)	5mo	$243,000	$169	51
17709 Antlers Pass	0.72mi	2/2.0 (-1)	1,494 (+9%)	13mo	$239,900	$161	31

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: -16.4%
• Equity multiple: 0.43×
• Total profit: $-31,926
• Equity at exit: $29,746

10-year hold

• IRR: -11.1%
• Equity multiple: 0.38×
• Total profit: $-34,827
• Equity at exit: $17,249

Cash invested: $55,860 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,553 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$47 /mo · $567/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $51

Break-even live

Break-even rent $1,489

Max offer price $199,500

Occupancy floor 92%

Sensitivity live

Price	-10% $164	-5% $107	+0% $51	+5% $-6	+10% $-62
Rent	-10% $-72	-5% $-11	+0% $51	+5% $112	+10% $173
Rate	-1.0pp $151	-0.5pp $101	base $51	+0.5pp $-1	+1.0pp $-54

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Hine St N Athens, AL	3.0	1.5	1400	$1,450	$1.04	44d	1	0.51mi
1003 E Washington St Athens, AL	4.0	3.0	1768	$1,600	$0.90	21d	1	0.51mi
1601 Florence St Athens, AL	3.0	1.0	1260	$1,850	$1.47	44d	1	0.63mi
17662 Antlers Pass Athens, AL	3.0	2.0	1600	$1,650	$1.03	44d	1	0.65mi
17962 Arrowhead Dr Athens, AL	2.0	2.0	1043	$1,024	$0.98	44d	1	0.82mi
514 Brownsferry St Athens, AL	3.0	1.0	953	$1,045	$1.10	44d	1	0.86mi
314 Browns Ferry St Athens, AL	3.0	1.0	950	$1,045	$1.10	44d	1	0.93mi
402 Crutcher Cir Athens, AL	3.0	2.5	1108	$2,000	$1.81	44d	1	0.95mi
17813 Denham Cir Athens, AL	4.0	3.0	1753	$1,950	$1.11	44d	1	0.97mi
16917 Orleans Dr Unit 32 Athens, AL	3.0	2.0	1474	$1,900	$1.29	14d	1	1.02mi
16129 Cohen Dr Athens, AL	2.0–4.0	2.0–2.5	1650	$1,658	$1.00	14d	9	1.08mi
100 Henry Dr Athens, AL	2.0–3.0	2.0	1073	$1,249	$1.16	14d	4	1.38mi
710 S Clinton St Athens, AL	1.0–3.0	1.0–2.0	1056	$1,400	$1.33	14d	6	1.47mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,469	$1.22	14d	1	1.48mi
19254 Autumn Falls Way Athens, AL	2.0	2.0	1200	$1,239	$1.03	21d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $199,500 Active 111 DOM
2. 2026-06-17
   days on market $199,500 Active 110 DOM
3. 2026-06-16
   days on market $199,500 Active 109 DOM
4. 2026-06-15
   days on market $199,500 Active 108 DOM
5. 2026-06-14
   days on market $199,500 Active 106 DOM
6. 2026-06-10
   days on market $199,500 Active 103 DOM
7. 2026-06-09
   days on market $199,500 Active 102 DOM
8. 2026-06-08
   days on market $199,500 Active 101 DOM
9. 2026-06-07
   days on market $199,500 Active 100 DOM
10. 2026-06-05
    days on market $199,500 Active 97 DOM
11. 2026-06-03
    pricedays on market $199,500 Active 96 DOM
12. 2026-06-02
    days on market $209,500 Active 95 DOM
13. 2026-06-01
    days on market $209,500 Active 94 DOM
14. 2026-05-31
    days on market $209,500 Active 93 DOM
15. 2026-05-30
    days on market $209,500 Active 92 DOM
16. 2026-04-16
    price $209,500 497-char remark

    Show marketing remark (497 chars)

    This 3 bedroom and 2 bathroom townhome is definitely “move in ready”. All lower level floors are hardwood. The large living room has a vaulted ceiling and large master bedroom has walk-in closet. All appliances remain. There is a 2 car garage is in the back and a 16x24 covered front porch is in the front. There are no HOA fees. This lovely townhome is 5 minutes from downtown Athens with lots of restaurants, shopping and more near by. The Athens hospital is just a few minutes away.

17. 2026-02-27
    listed $217,500 Active 497-char remark

    Show marketing remark (497 chars)

    This 3 bedroom and 2 bathroom townhome is definitely “move in ready”. All lower level floors are hardwood. The large living room has a vaulted ceiling and large master bedroom has walk-in closet. All appliances remain. There is a 2 car garage is in the back and a 16x24 covered front porch is in the front. There are no HOA fees. This lovely townhome is 5 minutes from downtown Athens with lots of restaurants, shopping and more near by. The Athens hospital is just a few minutes away.

18. 2001-09-26
    soldstatus $81,400

ⓘ 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: $567 · $47/mo
• Projected year-2 tax: $818 · $68/mo
• Expected delta: +$251/yr (+$21/mo · 44.2%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 20 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: $18,641
• − Mortgage interest: −$11,175
• − Property taxes: −$567
• − Insurance: −$998
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$5,804
• Taxable loss: −$2,885
• Est. tax savings @ 24.0%: +$692
• After-tax cash flow: $1,299/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

+157.4% since first listed

3 events — show timeline

• 2026-04-16 Price Changed $209,500 VMLS
• 2026-02-27 Listed $217,500 VMLS
• 2001-09-26 Sold (Public Records) $81,400 Public Records

Property tax history

+9.4%/yr

Latest (2025): $567 · +35.6% YoY. Source: county tax records.