The Asheville Plan · Meridianville, AL 35773

$259,900

3 bd · 2.0 ba · 1,484 sqft · SingleFamily · 315 Days on market

$12/mo HOA · 1% of rent

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +0.3/10.0

Listing remarks MLS

Discover the charm of one-level living with this open-concept home! From The Asheville's large, kitchen island overlooking the family room to its isolated Master Bedroom, we've designed this home with you in mind. The three bedrooms offer plenty of space for you and your guests. And outside, the covered back porch extends your leisure time to the outdoors, ensuring that you've got the space to kick back and relax after work. Make it your own with The Asheville's flexible floor plan. From an additional Master Bath layout to an extended porch, you've got every opportunity to make The Asheville your dream home. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. * Attached photos may include upgrades and non-standard features.

Key facts

• Open-concept home
• Large kitchen island
• Flexible floor plan

Tags

• ONE-LEVEL LIVING
• OPEN-CONCEPT HOME
• LARGE KITCHEN ISLAND
• ISOLATED MASTER BEDROOM
• COVERED BACK PORCH
• FLEXIBLE FLOOR PLAN

🏗️ New construction. The $259,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $279,770.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-540 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (22.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (31.6% below list).
• Recommended offer: $178k (31.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#118 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety 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: Lynn Fanning Elementary School (math 27% / reading 57%, grade F, #213 of 627 statewide, top 37%, 772 students, 39% FRL); Moores Mill Intermediate School (math 42% / reading 66%, grade B-, #20 of 257 statewide, top 8%, 840 students, 46% FRL); Hazel Green High School (math 23% / reading 31%, grade F, #90 of 305 statewide, top 35%, 1,348 students, 42% FRL).
• Market conditions: 326 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).

Forward outlook

• In year one you build about $30k of equity ($2k loan paydown + $28k 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 ~$48k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 315 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $177,900 (31.6% 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 315 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.64% ✗
• Cap rate: 3.98%
• Cash-on-cash: -8.27%
• DSCR: 0.63
• GRM: 13.1

CMA / ARV

• ARV (median comp): $279,770
• List price: $259,900
• Delta: -7.10%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
206 Pine Island Ave	0.04mi	3/2.0	1,484 (0%)	3mo	$259,900	$175	95
223 Pine Island Ave	0.10mi	3/2.0	1,484 (0%)	1mo	$259,900	$175	94
313 Cherokee Glen Ave	0.08mi	3/2.0	1,484 (0%)	6mo	$259,900	$175	91
310 Cherokee Glen Ave	0.09mi	3/2.0	1,484 (0%)	9mo	$259,000	$175	88
109 Ocean Springs Ave	0.10mi	3/2.0	1,630 (+10%)	3mo	$265,000	$163	76
225 Pine Island Ave	0.10mi	3/2.0	1,299 (-12%)	4mo	$258,900	$199	71
301 Cherokee Glen Ave	0.04mi	3/2.0	1,620 (+9%)	15mo	$300,000	$185	70
118 Cedar Lake Rd	0.02mi	3/2.0	1,620 (+9%)	16mo	$279,900	$173	70
216 Pine Island Ave	0.10mi	3/2.0	1,620 (+9%)	13mo	$288,107	$178	69
204 Pine Island Ave	0.03mi	3/2.0	1,620 (+9%)	17mo	$267,900	$165	69
309 Cherokee Glen Ave	0.06mi	3/2.0	1,299 (-12%)	9mo	$243,742	$188	69
1316 Mount Lebanon Rd	0.20mi	3/2.0	1,275 (-14%)	10mo	$220,000	$173	59

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: 18.5%
• Equity multiple: 2.51×
• Total profit: $118,010
• Equity at exit: $252,039

10-year hold

• IRR: 17.2%
• Equity multiple: 5.78×
• Total profit: $374,636
• Equity at exit: $543,532

Cash invested: $78,336 (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: 12.2×

Monthly cashflow live

• Estimated rent: $1,779 high
• Mortgage (P&I): −$1,467
• Tax est. 1.5%: −$350 /mo · $4,197/yr
• Insurance: −$117
• HOA: −$12
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-540

Break-even live

Break-even rent $2,463

Max offer price $201,629

Occupancy floor —

Sensitivity live

Price	-10% $-347	-5% $-443	+0% $-540	+5% $-637	+10% $-733
Rent	-10% $-681	-5% $-610	+0% $-540	+5% $-470	+10% $-399
Rate	-1.0pp $-399	-0.5pp $-469	base $-540	+0.5pp $-613	+1.0pp $-686

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: $69,942
• Closing costs: $8,393
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Ocean Springs Ave Toney, AL	4.0	2.0	1748	$1,850	$1.06	45d	1	0.11mi
136 Ocean Springs Ave Toney, AL	4.0	2.0	1749	$1,775	$1.01	45d	1	0.21mi
109 Cottondale Rd Toney, AL	3.0	2.0	1280	$1,101	$0.86	45d	1	0.36mi
217 Buddy Tate Ln Meridianville, AL	2.0	2.0	1800	$2,400	$1.33	45d	1	0.46mi
121 Balboa Rd Meridianville, AL	4.0	2.0	1863	$1,800	$0.97	45d	1	1.49mi

HOA detail

• Monthly dues: $12 · $144/yr

Listing history 17 events

1. 2026-06-22
   days on market $259,900 Active 315 DOM
2. 2026-06-18
   days on market $259,900 Active 312 DOM
3. 2026-06-17
   days on market $259,900 Active 311 DOM
4. 2026-06-16
   days on market $259,900 Active 310 DOM
5. 2026-06-15
   days on market $259,900 Active 309 DOM
6. 2026-06-14
   days on market $259,900 Active 307 DOM
7. 2026-06-10
   days on market $259,900 Active 304 DOM
8. 2026-06-09
   days on market $259,900 Active 303 DOM
9. 2026-06-08
   days on market $259,900 Active 302 DOM
10. 2026-06-07
    days on market $259,900 Active 301 DOM
11. 2026-06-02
    days on market $259,900 Active 296 DOM
12. 2026-06-01
    days on market $259,900 Active 295 DOM
13. 2026-05-31
    days on market $259,900 Active 294 DOM
14. 2026-05-30
    days on market $259,900 Active 293 DOM
15. 2026-05-19
    status Active 813-char remark

    Show marketing remark (813 chars)

    Discover the charm of one-level living with this open-concept home! From The Asheville's large, kitchen island overlooking the family room to its isolated Master Bedroom, we've designed this home with you in mind. The three bedrooms offer plenty of space for you and your guests. And outside, the covered back porch extends your leisure time to the outdoors, ensuring that you've got the space to kick back and relax after work. Make it your own with The Asheville's flexible floor plan. From an additional Master Bath layout to an extended porch, you've got every opportunity to make The Asheville your dream home. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. * Attached photos may include upgrades and non-standard features.

16. 2025-12-19
    historical 813-char remark

    Show marketing remark (813 chars)

    Discover the charm of one-level living with this open-concept home! From The Asheville's large, kitchen island overlooking the family room to its isolated Master Bedroom, we've designed this home with you in mind. The three bedrooms offer plenty of space for you and your guests. And outside, the covered back porch extends your leisure time to the outdoors, ensuring that you've got the space to kick back and relax after work. Make it your own with The Asheville's flexible floor plan. From an additional Master Bath layout to an extended porch, you've got every opportunity to make The Asheville your dream home. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. * Attached photos may include upgrades and non-standard features.

17. 2025-03-13
    listed $259,900 Active 813-char remark

    Show marketing remark (813 chars)

    Discover the charm of one-level living with this open-concept home! From The Asheville's large, kitchen island overlooking the family room to its isolated Master Bedroom, we've designed this home with you in mind. The three bedrooms offer plenty of space for you and your guests. And outside, the covered back porch extends your leisure time to the outdoors, ensuring that you've got the space to kick back and relax after work. Make it your own with The Asheville's flexible floor plan. From an additional Master Bath layout to an extended porch, you've got every opportunity to make The Asheville your dream home. Just know that offerings vary by location, so please discuss our standard features and upgrade options with your community's agent. * Attached photos may include upgrades and non-standard features.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,348
• − Mortgage interest: −$15,671
• − Property taxes: −$4,197
• − Insurance: −$1,399
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − HOA: −$144
• − Depreciation: −$8,139
• Taxable loss: −$11,617
• Est. tax savings @ 24.0%: +$2,788
• After-tax cash flow: $-3,692/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 — Meridianville

• Score: 65/100
• State rank: #118
• US rank: #12516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,103
• 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

3 events — show timeline

• 2026-05-19 Relisted — Zillow
• 2025-12-19 Delisted — Zillow
• 2025-03-13 Listed $259,900 Zillow