2004 13th St SE · Decatur, AL 35601

$165,000

3 bd · 2.0 ba · 1,649 sqft · SingleFamily public records · 105 Days on market

Built 1956 0.28 ac lot $100/sqft · 12% below area Est $187k · 12% under

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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 +16.9/30.0
• ARV discount +12.9/15.0
• DSCR +5.2/10.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location in South East Decatur, currently Rented until April 30th, 2026. Showing by Appointment Only 48hr notice. This 3bdrm 2bath, with central/heat air, vinyl siding, covered carport and hardwood flooring.

Key facts

• Hardwood flooring
• Covered carport
• Vinyl siding

Tags

• VINYL SIDING
• COVERED CARPORT
• HARDWOOD FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $143k (13.6% below list).
• Recommended offer: $143k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, crime F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($51k/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 $5k 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.

Negotiation context

• It's been on market 105 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $46k; list at $165k implies a 261% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,556 (13.6% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.79%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (median comp): $187,429
• List price: $165,000
• Delta: -11.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1716 Pennylane SE	0.22mi	3/2.0	1,606 (-3%)	7mo	$251,500	$157	80
1606 12th St SE	0.31mi	3/2.0	1,564 (-5%)	5mo	$181,500	$116	73
1601 12th St SE	0.34mi	3/2.0	1,500 (-9%)	5mo	$204,000	$136	65
1214 Elizabeth Ave SE	0.48mi	3/2.0	1,534 (-7%)	2mo	$206,500	$135	64
2308 13th St SE	0.52mi	3/1.5	1,595 (-3%)	5mo	$220,000	$138	64
1508 Summerlane SE	0.29mi	3/1.5	1,421 (-14%)	2mo	$192,500	$135	60
1210 Donna Ave	0.47mi	3/2.0	1,831 (+11%)	2mo	$235,000	$128	58
1312 Count Mallard Dr SE	0.46mi	3/2.0	1,450 (-12%)	4mo	$215,000	$148	55
1411 Magnolia St SE	0.52mi	3/2.0	1,849 (+12%)	2mo	$204,000	$110	54
1206 Elizabeth Ave SE	0.53mi	3/2.0	1,418 (-14%)	2mo	$239,000	$169	50
2003 Murphree Rd	0.71mi	3/2.0	1,798 (+9%)	2mo	$181,000	$101	50
2129 Park Place Dr SE	0.70mi	3/2.0	1,818 (+10%)	3mo	$169,900	$93	48

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.62×
• Total profit: $-17,511
• Equity at exit: $24,602

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,687
• Equity at exit: $14,266

Cash invested: $46,200 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 223
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,426 high
• Mortgage (P&I): −$865
• Tax from tax record: −$85 /mo · $1,017/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $107

Break-even live

Break-even rent $1,290

Max offer price $165,000

Occupancy floor 87%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Pennylane SE Decatur, AL	3.0	1.5	1100	$1,198	$1.09	23d	1	0.31mi
1205 Broadus Ave SE Decatur, AL	3.0	2.0	1306	$1,195	$0.92	44d	1	0.45mi
2136 Eastbrook SE Decatur, AL	2.0	2.0	1400	$1,495	$1.07	44d	1	0.60mi
1801 7th St SE Decatur, AL	4.0	2.0	1475	$1,550	$1.05	44d	1	0.64mi
2217 Yorkshire SE Decatur, AL	3.0	2.0	1978	$2,000	$1.01	14d	1	0.68mi
1707 Buena Vista Cir SE Decatur, AL	3.0	2.0	1756	$1,350	$0.77	44d	1	0.94mi

Listing history 20 events

1. 2026-06-19
   days on market $165,000 Active 105 DOM
2. 2026-06-18
   days on market $165,000 Active 104 DOM
3. 2026-06-17
   days on market $165,000 Active 103 DOM
4. 2026-06-16
   days on market $165,000 Active 102 DOM
5. 2026-06-15
   days on market $165,000 Active 101 DOM
6. 2026-06-14
   days on market $165,000 Active 99 DOM
7. 2026-06-13
   days on market $165,000 Active 98 DOM
8. 2026-06-10
   days on market $165,000 Active 96 DOM
9. 2026-06-09
   days on market $165,000 Active 95 DOM
10. 2026-06-08
    days on market $165,000 Active 94 DOM
11. 2026-06-07
    days on market $165,000 Active 93 DOM
12. 2026-06-05
    days on market $165,000 Active 90 DOM
13. 2026-06-03
    days on market $165,000 Active 89 DOM
14. 2026-06-02
    days on market $165,000 Active 88 DOM
15. 2026-06-01
    days on market $165,000 Active 87 DOM
16. 2026-05-31
    days on market $165,000 Active 86 DOM
17. 2026-05-30
    days on market $165,000 Active 85 DOM
18. 2026-03-06
    listed $165,000 Active 214-char remark

    Show marketing remark (214 chars)

    Great Location in South East Decatur, currently Rented until April 30th, 2026. Showing by Appointment Only 48hr notice. This 3bdrm 2bath, with central/heat air, vinyl siding, covered carport and hardwood flooring.

19. 2016-11-14
    soldstatus $45,750 432-char remark

    Show marketing remark (432 chars)

    Great potential in well-established neighborhood. This 1842 sq. foot home has three bedrooms and two full baths. Enjoy the cool evenings with your wood burning fireplace, a blanket, and a book located in one of two living areas. Formal dining room and kitchen are centrally located in the heart of the home. There is a large covered patio with large fenced in backyard. Bring your paintbrush and put your own splash on this one.

20. 2016-07-05
    listed $49,900 432-char remark

    Show marketing remark (432 chars)

    Great potential in well-established neighborhood. This 1842 sq. foot home has three bedrooms and two full baths. Enjoy the cool evenings with your wood burning fireplace, a blanket, and a book located in one of two living areas. Formal dining room and kitchen are centrally located in the heart of the home. There is a large covered patio with large fenced in backyard. Bring your paintbrush and put your own splash on this one.

ⓘ 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: $1,017 · $85/mo
• Projected year-2 tax: $1,017 · $85/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $17,107
• − Mortgage interest: −$9,243
• − Property taxes: −$1,017
• − Insurance: −$825
• − Repairs & maintenance: −$1,369
• − Management: −$1,369
• − Depreciation: −$4,800
• Taxable loss: −$1,514
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $1,653/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

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: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

+230.7% since first listed

3 events — show timeline

• 2026-03-06 Listed $165,000 VMLS
• 2016-11-14 Sold (MLS) $45,750 VMLS
• 2016-07-05 Listed $49,900 VMLS

Property tax history

+9.6%/yr

Latest (2025): $1,017 · +0.0% YoY. Source: county tax records.