At industry standard 55% expense ratio, and a rent of 1750, this 277k property has a cap rate of 3.4%. Since you closed on this deal in mid-March, I suspect your interest rate on the property is somewhere in the mid to low 4s.
In other words, I hypothesize that you have negative leverage on this investment, and thus will slowly lose money over time unless you get large rent increases or huge appreciation gains, or can cut operating expenses.
Rent increases: I don't think you'll get large rent increases because folks that can afford that larger rent and want Madison City schools will actually just go and live in a nicer house in Madison. This house is in Triana(way south of Madison), where the median renter is fairly low income, so this property puts you at the very top of the market--which makes it difficult to bump rents.
Appreciation gains: The house has a converted garage to make it a 4 bedroom house, and is relatively newly built, so there's not a huge amount of potential value add. From the county data, looks like this property sold for about 130k in 2016. Huntsville is likely going to see some appreciation, but I don't think I'd count on a doubling on house value in the next 5 years.
Cut operating expenses: You're out of state on this one, so can't save money doing work on the property yourself, or managing it yourself, convert to short term rental, etc. House will require a new HVAC and new roof within 3-5 years due to age, possible water heater, etc. Due to the factors listed above, I think the renter profile will end up being folks who only stay one year, then move elsewhere. You'll have consistent yearly 8-16% vacancy and continued yearly turnover costs.
