The house has been on the market since 11/29/11 and was first listed at $103,700. It last sold on 02/14/06 at $106,900. It sold in 200 at $85,000. The link below is to the current and archived listings of the house.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115274136
The link below is to a summary of MLS activity in the neighborhood since 01/01/11. The subject home is listed at $55 per square foot. The average sold price in the neighborhood was $57 per square foot with a range of $52 to $61 per square foot.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115274139
Just based on the recent sales the house seems to be well priced. I do have some concerns about the neighborhood however. The neighborhood is on a hillside and many of the homes have settled and have substantial foundation problems. If we did move forward on the house we would need to have a careful home inspection and possibly a structural inspection by a licensed structural engineer. I'm also a little concerned about the surrounding neighborhood. While homes to the south, east and north are nice and well kept to the east there is a lot of low income, multi-family rental property. A little further east there is a mobile home park.
http://maps.google.com/maps?q=530+FARMINGDALE+ROAD,+HUNTSVILLE,+AL+35803&hl=en&ll=34.615983,-86.56284&spn=0.001982,0.005273&sll=37.0625,-95.677068&sspn=14.20984,64.775391&vpsrc=6&hnear=530+Farmingdale+Rd+SE,+Huntsville,+Alabama+35803&t=h&z=18
The link below is to two south Huntsville homes under $90,000 you may want to consider. 2003 SW SHANNONHOUSE ROAD is a bank owned house and there are no photos. It may be in bad condition but it is in a good area. 2023 SW STANFORD DRIVE is in the desirable medical district.
http://nalmls.com/NALMLSReports/ListitLib/show_report.aspx?ID=7115274153
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