1621 Spencer Dr · Tuscaloosa, AL 35405

$189,900

3 bd · 1.0 ba · 1,878 sqft · Townhouse public records · 16 Days on market

Built 1945 0.33 ac lot

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Why this score? — see what drove the C- 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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +4.2/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

brick home, 3 drm 2 bth, hardwood floors in main living areas and bedrooms. Hillcrest High & Hillcrest Jr High & Englewood Elem school zones.

Key facts

• Hillcrest jr high
• Hillcrest high
• Hardwood floors

Tags

• HARDWOOD FLOORS
• HILLCREST HIGH
• HILLCREST JR HIGH
• ENGLEWOOD ELEM SCHOOL ZONES

Property features AI

Finance

• HOA & community: Homeowners association with annual fee

Exterior

• Parking: Attached garage; 2 garage spaces; Driveway; Concrete surfaces
• Utilities: Public water; Sewer connected; Cable available
• Home design: Townhouse; One level
• Construction: Brick construction; Composition shingle roof; Crawl space foundation; Built as townhouse (structure type)
• Exterior features: Covered porch; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central electric air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans; Granite counters; Water heater
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (7.5% below list).
• Recommended offer: $176k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.4% in Tuscaloosa — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa County (suburban): math 21% / reading 45% proficiency, ranked #47 of 129 in AL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Englewood Elementary School (math 19% / reading 48%, grade F, #318 of 627 statewide, top 51%, 512 students, 74% FRL); Hillcrest High School (math 18% / reading 26%, grade F, #142 of 305 statewide, top 51%, 1,356 students, 65% FRL) — zoned schools average 69% FRL vs 45% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 457 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• This rent runs 34% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,613 (7.5% below list)

Questions for the listing agent

1. Built in 1945 — 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. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.42% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.79×
• Total profit: $-11,227
• Equity at exit: $28,315

10-year hold

• IRR: 6.5%
• Equity multiple: 1.53×
• Total profit: $28,429
• Equity at exit: $16,419

Cash invested: $53,172 (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 35405

• Home prices YoY: -26.9%
• Rents YoY: 5.4%
• Active inventory: 457
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$996
• Tax from tax record: −$73 /mo · $877/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $239

Break-even live

Break-even rent $1,453

Max offer price $189,900

Occupancy floor 81%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1451 Maxwell Cir Tuscaloosa, AL	4.0	2.0	1498	$1,745	$1.16	20d	1	0.19mi
9717 Full Moon Cir Tuscaloosa, AL	3.0	2.0	1278	$1,550	$1.21	13d	1	0.84mi
9295 Havenridge Loop Tuscaloosa, AL	4.0	2.0	1583	$1,745	$1.10	43d	1	1.01mi
9588 Havenridge Loop Tuscaloosa, AL	4.0	2.0	1961	$1,885	$0.96	43d	1	1.10mi
9582 Havenridge Loop Tuscaloosa, AL	4.0	2.0	1961	$1,885	$0.96	43d	1	1.11mi
9594 Havenridge Loop Tuscaloosa, AL	3.0	2.0	1679	$1,795	$1.07	43d	1	1.11mi
9576 Havenridge Loop Tuscaloosa, AL	3.0	2.0	1493	$1,795	$1.20	43d	1	1.11mi
9230 Parkway Gardens Loop Tuscaloosa, AL	4.0	2.0	1774	$1,995	$1.12	43d	1	1.13mi
9212 Parkway Gardens Loop Tuscaloosa, AL	4.0	2.0	1774	$1,796	$1.01	43d	1	1.16mi
9332 Parkway Gardens Loop Tuscaloosa, AL	4.0	2.0	1497	$1,706	$1.14	43d	1	1.21mi

Listing history 13 events

1. 2026-06-18
   days on market $189,900 Active 16 DOM
2. 2026-06-17
   days on market $189,900 Active 15 DOM
3. 2026-06-16
   days on market $189,900 Active 14 DOM
4. 2026-06-15
   days on market $189,900 Active 13 DOM
5. 2026-06-14
   days on market $189,900 Active 11 DOM
6. 2026-06-13
   days on market $189,900 Active 10 DOM
7. 2026-06-10
   days on market $189,900 Active 8 DOM
8. 2026-06-09
   days on market $189,900 Active 7 DOM
9. 2026-06-08
   days on market $189,900 Active 6 DOM
10. 2026-06-07
    days on market $189,900 Active 5 DOM
11. 2026-06-05
    days on market $189,900 Active 2 DOM
12. 2026-06-03
    remarks 145-char remark
13. 2026-06-03
    listed $189,900 Active 1 DOM

ⓘ 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: $877 · $73/mo
• Projected year-2 tax: $877 · $73/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 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,074
• − Mortgage interest: −$10,637
• − Property taxes: −$877
• − Insurance: −$950
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$5,524
• Taxable loss: −$286
• Est. tax savings @ 24.0%: +$69
• After-tax cash flow: $2,940/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: Tuscaloosa County
• NCES district ID: 0103390
• Math proficiency: 21% ▼ -24.00%
• Reading proficiency: 45% ▲ 2.00%
• Median HH income: $53,000
• Composite: 28.88/100
• National rank: #6641
• State rank: #47 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 49,420
• Household income: $62,301
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 1963.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 56% White 35% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.25%
• Current HPI: 193.1929
• Rent YoY: ▲ 5.42%
• Metro: Tuscaloosa, AL
• 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

1 event — show timeline

• 2026-06-02 Listed $189,900 WAMLS

Property tax history

+2.4%/yr

Latest (2025): $877 · +7.0% YoY. Source: county tax records.