131 College St · Courtland, AL 35618

$39,900

3 bd · 1.0 ba · 400 sqft · Manufactured public records · 72 Days on market

Built 1936 $100/sqft · 15% above area ↓ 10% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Centrally located property with lots of historic charm, situated on a nice flat lot. Property is 3 beds with 1 bathroom, dining room and den. SOLD AS IS WHERE IS.

Key facts

• Flat lot
• Historic charm
• Built 1936

Tags

• HISTORIC CHARM
• FLAT LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($788 rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 54/100 on livability (#463 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime F, amenities F.
• Lawrence County (rural): math 14% / reading 38% proficiency, ranked #85 of 129 in AL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 14 active listings in the ZIP; 5 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($276 loan paydown + $4k appreciation (10.0% local appreciation)).
• Lawrence County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($38k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.98% ✓
• Cap rate: 17.92%
• Cash-on-cash: 41.53%
• DSCR: 2.85
• GRM: 4.2

CMA / ARV

• ARV (median comp): $144,350
• List price: $39,900
• Delta: -72.36%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.5%
• Equity multiple: 5.15×
• Total profit: $46,342
• Equity at exit: $35,945

10-year hold

• IRR: 50.0%
• Equity multiple: 11.48×
• Total profit: $117,080
• Equity at exit: $77,517

Cash invested: $11,172 (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 35618

• Home prices YoY: 6.3%
• Active inventory: 14
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $788 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$10 /mo · $121/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$165
• Net cashflow: $387

Break-even live

Break-even rent $299

Max offer price $39,900

Occupancy floor 46%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $39,900 Active 72 DOM
2. 2026-06-18
   days on market $39,900 Active 71 DOM
3. 2026-06-17
   days on market $39,900 Active 70 DOM
4. 2026-06-16
   days on market $39,900 Active 69 DOM
5. 2026-06-15
   days on market $39,900 Active 68 DOM
6. 2026-06-14
   days on market $39,900 Active 66 DOM
7. 2026-06-13
   days on market $39,900 Active 65 DOM
8. 2026-06-10
   days on market $39,900 Active 63 DOM
9. 2026-06-09
   days on market $39,900 Active 62 DOM
10. 2026-06-08
    days on market $39,900 Active 61 DOM
11. 2026-06-07
    days on market $39,900 Active 60 DOM
12. 2026-06-05
    pricedays on market $39,900 Active 57 DOM
13. 2026-06-02
    days on market $45,000 Active 55 DOM
14. 2026-06-01
    days on market $45,000 Active 54 DOM
15. 2026-05-31
    days on market $45,000 Active 53 DOM
16. 2026-05-30
    days on market $45,000 Active 52 DOM
17. 2026-04-22
    price $45,000 162-char remark

    Show marketing remark (162 chars)

    Centrally located property with lots of historic charm, situated on a nice flat lot. Property is 3 beds with 1 bathroom, dining room and den. SOLD AS IS WHERE IS.

18. 2026-04-08
    listed $50,000 Active 162-char remark

    Show marketing remark (162 chars)

    Centrally located property with lots of historic charm, situated on a nice flat lot. Property is 3 beds with 1 bathroom, dining room and den. SOLD AS IS WHERE IS.

ⓘ 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: $121 · $10/mo
• Projected year-2 tax: $164 · $14/mo
• Expected delta: +$43/yr (+$4/mo · 35.2%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $9,457
• − Mortgage interest: −$2,235
• − Property taxes: −$121
• − Insurance: −$200
• − Repairs & maintenance: −$757
• − Management: −$757
• − Depreciation: −$1,161
• Taxable income: $4,227
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $3,625/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: Lawrence County
• NCES district ID: 0102040
• Math proficiency: 14% ▼ -25.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $40,669
• Composite: 21.9/100
• National rank: #8230
• State rank: #85 of 129 in AL

Livability — Courtland

• Score: 54/100
• State rank: #463
• US rank: #23987

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Courtland, AL
• Population (ZIP): 1,752

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 30,827 people
• By 2030: 29,343 · -4.8%
• By 2040: 26,268 · -14.8%
• By 2050: 23,052 · -25.2%
• By 2075: 17,414 · -43.5%
• By 2100: 13,600 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 47% White 44% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 7% French/Haitian/Cajun 0%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+62.3) · D 18.5% · R 80.8%
• 2008→2024 swing: -34.3pp toward R · 2008: -28.0pp · 2024: -62.3pp
• All cycles: 2024: R+62.3 2020: R+54.6 2016: R+48.7 2012: R+27.0 2008: R+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 11.33%
• Current HPI: 191.718
• 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

-10.0% since first listed

2 events — show timeline

• 2026-04-22 Price Changed $45,000 VMLS
• 2026-04-08 Listed $50,000 VMLS

Property tax history

+3.8%/yr

Latest (2025): $121 · +38.0% YoY. Source: county tax records.