1009 31 Hwy · South Vinemont, AL 35622

$38,000

3 bd · 1.0 ba · 1,972 sqft · SingleFamily public records · 26 Days on market

Built 1941 2.00 ac lot ↓ 17% since listing

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

3-bedroom 1 bath home with lots of room to run and play. 2 acres m/l Lots of outside storage buildings. Large open floor plan to kitchen / living room with bonus room to right of kitchen. Purchaser to verify sq. footage land amount, septic system and, school district.

Key facts

• 2 acre lot
• Built 1941
• Listed 26 days

Property features AI

Exterior

• Parking: Additional parking available
• Utilities: Septic tank sewer
• Home design: Single-family residential property
• Construction: About 1,972 above-grade finished square footage
• Exterior features: Approximately 2-acre lot; Zoned R1; Not in a subdivision

Interior

• Bedrooms: 3 main-level bedrooms
• Bathrooms: 1 full bathroom
• Interior features: 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $841 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $37k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#432 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Morgan County (rural): math 19% / reading 43% proficiency, ranked #61 of 129 in AL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Falkville Elementary School (math 17% / reading 47%, grade F, #331 of 627 statewide, top 57%, 332 students, 68% FRL); Falkville High School (math 11% / reading 29%, grade F, #163 of 305 statewide, top 54%, 411 students, 64% FRL) — zoned schools average 66% FRL vs 44% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 49 active listings in the ZIP; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,430 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 3.62% ✓
• Cap rate: 32.85%
• Cash-on-cash: 94.86%
• DSCR: 5.22
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $197,200
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Bell Springs Rd	0.52mi	3/2.0	2,080 (+6%)	14mo	$207,500	$100	52
157 Bell Rd	0.67mi	3/2.0	2,080 (+6%)	14mo	$207,500	$100	44
11 Powell Church Rd	0.48mi	4/3.0 (+1)	2,201 (+12%)	4mo	$275,000	$125	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 95.7%
• Equity multiple: 5.46×
• Total profit: $47,423
• Equity at exit: $5,666

10-year hold

• IRR: 98.4%
• Equity multiple: 11.37×
• Total profit: $110,315
• Equity at exit: $3,286

Cash invested: $10,640 (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 35622

• Home prices YoY: -4.5%
• Active inventory: 49
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,374 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$29 /mo · $350/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $841

Break-even live

Break-even rent $309

Max offer price $38,000

Occupancy floor 34%

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $38,000 Active 26 DOM
2. 2026-06-17
   days on market $38,000 Active 25 DOM
3. 2026-06-16
   days on market $38,000 Active 24 DOM
4. 2026-06-15
   days on market $38,000 Active 23 DOM
5. 2026-06-14
   days on market $38,000 Active 21 DOM
6. 2026-06-13
   days on market $38,000 Active 20 DOM
7. 2026-06-10
   days on market $38,000 Active 18 DOM
8. 2026-06-09
   days on market $38,000 Active 17 DOM
9. 2026-06-08
   days on market $38,000 Active 16 DOM
10. 2026-06-07
    days on market $38,000 Active 15 DOM
11. 2026-06-02
    days on market $38,000 Active 10 DOM
12. 2026-06-01
    days on market $38,000 Active 9 DOM
13. 2026-05-31
    days on market $38,000 Active 8 DOM
14. 2026-05-30
    days on market $38,000 Active 7 DOM
15. 2026-05-20
    listed $38,000 Active
16. 2002-06-18
    soldstatus $46,000

ⓘ 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: $350 · $29/mo
• Projected year-2 tax: $350 · $29/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,487
• − Mortgage interest: −$2,129
• − Property taxes: −$350
• − Insurance: −$190
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$1,105
• Taxable income: $10,075
• Est. tax owed @ 24.0%: −$2,418
• After-tax cash flow: $7,675/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: Morgan County
• NCES district ID: 0102480
• Math proficiency: 19% ▼ -28.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $47,362
• Composite: 26.68/100
• National rank: #7157
• State rank: #61 of 129 in AL

Livability — South Vinemont

• Score: 55/100
• State rank: #432
• US rank: #23262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,532

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Asian 1% Black 1%
• Common ancestry: Iranian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 96% English-only · Korean 1% German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.13%
• Current HPI: 216.7304
• 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

-17.4% since first listed

2 events — show timeline

• 2026-05-20 Listed $38,000 SAARMLS
• 2002-06-18 Sold (Public Records) $46,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $350 · +0.0% YoY. Source: county tax records.