146 Elledge Farm Dr · Hazel Green, AL 35750

$289,000

4 bd · 1.0 ba · 2,019 sqft · SingleFamily public records · 302 Days on market

Built 2020 0.29 ac lot $143/sqft · 12% below area Est $330k · 12% 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 +13.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0

Listing remarks MLS

This charming property offers comfort, style, and convenience. Step inside to discover a spacious and inviting floor plan filled with natural light;plenty of room for family living, entertaining, or working from home. The kitchen is a true highlight, complete with modern appliances, ample cabinet space, and a functional layout that makes meal prep a breeze. The open living area creates a warm and welcoming space for gatherings or relaxing evenings. Enjoy a yard perfect for outdoor activities, gardening, or simply unwinding. Whether you're hosting a barbecue or enjoying a quiet morning coffee, this space has endless potential. Seller is offering $4,000 towards a fence at closing.

Key facts

• Tile in wet areas
• Open floor plan
• E3 tilt in windows

Tags

• ENERGY EFFICIENCY
• E3 TILT IN WINDOWS
• RADIANT ROOF BARRIER
• OPEN FLOOR PLAN
• GRANITE COUNTER TOPS
• TILE IN WET AREAS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (34.5% below list).
• Recommended offer: $189k (34.5% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.9% in Hazel Green — 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 69/100 on livability (#54 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute 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.
• Market conditions: 256 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 4,709 units permitted in Madison County in 2024 (1,186 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 302 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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.

Recommended offer $189,288 (34.5% 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. It's been on market 302 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.65% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.19%
• DSCR: 0.86
• GRM: 12.7

CMA / ARV

• ARV (median comp): $329,524
• List price: $289,000
• Delta: -12.30%
• 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
147 Elledge Farm Dr	0.04mi	4/2.0	1,990 (-1%)	5mo	$303,000	$152	88
125 Elledge Farm Dr	0.08mi	3/2.0 (-1)	1,918 (-5%)	8mo	$285,000	$149	73
208 Rindon Ln	0.34mi	4/3.0	1,966 (-3%)	3mo	$315,000	$160	69
104 Parvin Way Dr	0.21mi	4/2.0	2,076 (+3%)	16mo	$240,000	$116	68
119 Parvin Way Dr	0.31mi	4/2.0	1,915 (-5%)	14mo	$310,990	$162	61
106 Parvin Way Dr	0.22mi	3/2.0 (-1)	1,800 (-11%)	3mo	$255,000	$142	60
295 Jimmy Fisk Rd	0.26mi	3/2.0 (-1)	1,920 (-5%)	14mo	$294,500	$153	59
106 Sugarberry Trl	0.15mi	3/2.0 (-1)	1,812 (-10%)	10mo	$290,000	$160	59
131 Canopy Rd	0.27mi	3/2.0 (-1)	1,981 (-2%)	21mo	$280,000	$141	57
206 Rindon Ln	0.35mi	4/2.0	2,090 (+4%)	20mo	$283,900	$136	57
121 Parvin Way Dr	0.33mi	4/2.0	1,820 (-10%)	12mo	$299,990	$165	54
110 Parvin Way Dr	0.24mi	3/2.0 (-1)	2,172 (+8%)	19mo	$278,000	$128	51

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: 22.0%
• Equity multiple: 2.77×
• Total profit: $143,554
• Equity at exit: $260,354

10-year hold

• IRR: 19.8%
• Equity multiple: 6.35×
• Total profit: $433,219
• Equity at exit: $561,463

Cash invested: $80,920 (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 35750

• Home prices YoY: 8.2%
• Active inventory: 256
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-215

Break-even live

Break-even rent $2,165

Max offer price $251,014

Occupancy floor —

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
115 Elledge Farm Dr Hazel Green, AL	4.0	2.5	1990	$1,648	$0.83	23d	1	0.13mi
120 Elledge Farm Dr Hazel Green, AL	4.0	2.0	1999	$1,999	$1.00	23d	1	0.14mi
214 Briarcrest Rd Hazel Green, AL	4.0	2.5	2091	$1,825	$0.87	44d	1	0.22mi
214 Briarcrest Rd Hazel Green, AL	4.0	2.5	2091	$1,825	$0.87	23d	1	0.22mi
228 Hibiscus Dr Hazel Green, AL	4.0	3.0	2502	$2,595	$1.04	21d	1	0.96mi
280 Shangrila Way Meridianville, AL	4.0	2.0	2106	$1,899	$0.90	23d	1	1.35mi
319 Allene Way Meridianville, AL	4.0	2.0	2106	$2,150	$1.02	44d	1	1.38mi
243 Irish Hill Dr Meridianville, AL	4.0	2.0	2100	$2,000	$0.95	44d	1	1.41mi
304 Allene Way Meridianville, AL	3.0	2.0	1703	$1,800	$1.06	21d	1	1.44mi
243 Susan Lynn Dr Meridianville, AL	3.0	2.5	1772	$1,500	$0.85	44d	1	1.44mi
302 Allene Way Meridianville, AL	4.0	3.0	1938	$2,400	$1.24	44d	1	1.44mi
163 Susan Lynn Dr Meridianville, AL	3.0	2.5	1760	$1,695	$0.96	44d	1	1.47mi

Listing history 33 events

1. 2026-06-18
   days on market $289,000 Active 302 DOM
2. 2026-06-17
   days on market $289,000 Active 301 DOM
3. 2026-06-16
   days on market $289,000 Active 300 DOM
4. 2026-06-15
   days on market $289,000 Active 299 DOM
5. 2026-06-14
   pricedays on market $289,000 Active 297 DOM
6. 2026-06-10
   days on market $293,000 Active 294 DOM
7. 2026-06-09
   days on market $293,000 Active 293 DOM
8. 2026-06-08
   days on market $293,000 Active 292 DOM
9. 2026-06-07
   days on market $293,000 Active 291 DOM
10. 2026-06-02
    days on market $293,000 Active 286 DOM
11. 2026-06-01
    days on market $293,000 Active 285 DOM
12. 2026-05-31
    days on market $293,000 Active 284 DOM
13. 2026-05-30
    days on market $293,000 Active 283 DOM
14. 2026-05-04
    price $293,000 687-char remark

    Show marketing remark (687 chars)

    This charming property offers comfort, style, and convenience. Step inside to discover a spacious and inviting floor plan filled with natural light;plenty of room for family living, entertaining, or working from home. The kitchen is a true highlight, complete with modern appliances, ample cabinet space, and a functional layout that makes meal prep a breeze. The open living area creates a warm and welcoming space for gatherings or relaxing evenings. Enjoy a yard perfect for outdoor activities, gardening, or simply unwinding. Whether you're hosting a barbecue or enjoying a quiet morning coffee, this space has endless potential. Seller is offering $4,000 towards a fence at closing.

15. 2026-03-17
    price $298,000 687-char remark

    Show marketing remark (687 chars)

    This charming property offers comfort, style, and convenience. Step inside to discover a spacious and inviting floor plan filled with natural light;plenty of room for family living, entertaining, or working from home. The kitchen is a true highlight, complete with modern appliances, ample cabinet space, and a functional layout that makes meal prep a breeze. The open living area creates a warm and welcoming space for gatherings or relaxing evenings. Enjoy a yard perfect for outdoor activities, gardening, or simply unwinding. Whether you're hosting a barbecue or enjoying a quiet morning coffee, this space has endless potential. Seller is offering $4,000 towards a fence at closing.

16. 2026-01-26
    listed $300,000 587-char remark

    Show marketing remark (587 chars)

    Almost new, barely lived in home ready for immediate occupancy. The home has been cleaned and compares well to brand new, just without the wait. All square footage is on the main level with no stairs required to get inside the home. This is the TANNER II A plan as built by DSLD in 2020. Landscaping package included, gutters, downspouts, covered back porch, and more. Inside you'll find energy efficient features such as Maytag stainless steel appliances, low E-3 tilt-in windows, & radiant barrier roof decking. Agents, bring your most discerning client, you won't be disappointed.

17. 2025-12-01
    price $299,900 687-char remark

    Show marketing remark (687 chars)

    This charming property offers comfort, style, and convenience. Step inside to discover a spacious and inviting floor plan filled with natural light;plenty of room for family living, entertaining, or working from home. The kitchen is a true highlight, complete with modern appliances, ample cabinet space, and a functional layout that makes meal prep a breeze. The open living area creates a warm and welcoming space for gatherings or relaxing evenings. Enjoy a yard perfect for outdoor activities, gardening, or simply unwinding. Whether you're hosting a barbecue or enjoying a quiet morning coffee, this space has endless potential. Seller is offering $4,000 towards a fence at closing.

18. 2025-08-20
    listed $308,000 Active 687-char remark

    Show marketing remark (687 chars)

    This charming property offers comfort, style, and convenience. Step inside to discover a spacious and inviting floor plan filled with natural light;plenty of room for family living, entertaining, or working from home. The kitchen is a true highlight, complete with modern appliances, ample cabinet space, and a functional layout that makes meal prep a breeze. The open living area creates a warm and welcoming space for gatherings or relaxing evenings. Enjoy a yard perfect for outdoor activities, gardening, or simply unwinding. Whether you're hosting a barbecue or enjoying a quiet morning coffee, this space has endless potential. Seller is offering $4,000 towards a fence at closing.

19. 2023-10-19
    listed $325,000 Active
20. 2023-01-20
    soldstatus $275,000
21. 2023-01-19
    soldstatus $275,000 587-char remark

    Show marketing remark (587 chars)

    Almost new, barely lived in home ready for immediate occupancy. The home has been cleaned and compares well to brand new, just without the wait. All square footage is on the main level with no stairs required to get inside the home. This is the TANNER II A plan as built by DSLD in 2020. Landscaping package included, gutters, downspouts, covered back porch, and more. Inside you'll find energy efficient features such as Maytag stainless steel appliances, low E-3 tilt-in windows, & radiant barrier roof decking. Agents, bring your most discerning client, you won't be disappointed.

22. 2023-01-19
    soldstatus $275,000 Sold

    Show marketing remark (587 chars)

    Almost new, barely lived in home ready for immediate occupancy. The home has been cleaned and compares well to brand new, just without the wait. All square footage is on the main level with no stairs required to get inside the home. This is the TANNER II A plan as built by DSLD in 2020. Landscaping package included, gutters, downspouts, covered back porch, and more. Inside you'll find energy efficient features such as Maytag stainless steel appliances, low E-3 tilt-in windows, & radiant barrier roof decking. Agents, bring your most discerning client, you won't be disappointed.

23. 2023-01-13
    listed $300,000 Active
24. 2020-09-25
    soldstatus $242,613 Sold
25. 2020-08-27
    status Pending
26. 2020-08-20
    price $242,613
27. 2020-08-20
    status Active
28. 2020-06-26
    price $233,613
29. 2020-06-26
    status Pending
30. 2020-05-18
    price $232,428
31. 2020-05-07
    price $231,428
32. 2020-03-24
    price $230,428
33. 2020-03-23
    listed $225,990 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: $893 · $74/mo
• Projected year-2 tax: $1,185 · $99/mo
• Expected delta: +$292/yr (+$24/mo · 32.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,715
• − Mortgage interest: −$16,188
• − Property taxes: −$893
• − Insurance: −$1,445
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$8,407
• Taxable loss: −$7,854
• Est. tax savings @ 24.0%: +$1,885
• After-tax cash flow: $-695/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 — Hazel Green

• Score: 69/100
• State rank: #54
• US rank: #8575

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hazel Green, AL
• County: Madison County · 380,832 people
• City population: 13,413
• Metro: Huntsville, AL
• Population (ZIP): 13,413
• Household income: $68,389
• Rent vs Own: 14.7% rent · 85.3% own
• Severe rent burden: 162.0

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 (71%)
• Race & ethnicity: White 71% Black 19% Asian 5% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Serbian 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 2% Chinese 1% Korean 1%

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: ▲ 33.59%
• Current HPI: 444.7418
• Rent YoY: —
• 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

+29.7% since first listed

20 events — show timeline

• 2026-05-04 Price Changed $293,000 VMLS
• 2026-03-17 Price Changed $298,000 VMLS
• 2026-01-26 Listed $300,000 REALTRACS as Distributed by MLS Grid
• 2025-12-01 Price Changed $299,900 VMLS
• 2025-08-20 Listed $308,000 VMLS
• 2023-10-19 Listed $325,000 VMLS
• 2023-01-20 Sold (Public Records) $275,000 Public Records
• 2023-01-19 Sold (MLS) $275,000 VMLS
• 2023-01-19 Sold (MLS) $275,000 REALTRACS as Distributed by MLS Grid
• 2023-01-13 Listed $300,000 VMLS
• 2020-09-25 Sold (MLS) $242,613 VMLS
• 2020-08-27 Pending — VMLS
• 2020-08-20 Price Changed $242,613 VMLS
• 2020-08-20 Relisted — VMLS
• 2020-06-26 Price Changed $233,613 VMLS
• 2020-06-26 Pending — VMLS
• 2020-05-18 Price Changed $232,428 VMLS
• 2020-05-07 Price Changed $231,428 VMLS
• 2020-03-24 Price Changed $230,428 VMLS
• 2020-03-23 Listed $225,990 VMLS

Property tax history

+4.3%/yr

Latest (2024): $893 · +4.3% YoY. Source: county tax records.