320 Kowaliga Rd · Eclectic, AL 36024

$165,000

2 bd · 2.0 ba · 1,492 sqft · SingleFamily public records · 252 Days on market

Built 1930 0.69 ac lot $111/sqft · 9% below area Est $196k · 16% under ↓ 43% 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 +28.4/30.0
• ARV discount +14.6/15.0
• DSCR +10.0/10.0
• 1% rule +6.5/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1930 home is located in Eclectic, AL and within walking distance of downtown. 12 foot ceilings throughout. Home was renovated in 2004 but could use some cosmetic updates. Roofs on the home and garage were replaced in 2024, new windows were installed 2024 and the back deck was replaced in 2025. Gutters were installed on the home and the garage in 2025. This 2 bed, 2 bath, 1609 square foot home is sitting on . 69 acres and could easily have a 3rd bedroom with little cost or effort. There is a wired workshop in the backyard as well as a small unfinished walk in basement. There is a floored attic for extra storage space. Home is being sold as is.

Key facts

• Roofs replaced
• Gutters installed
• 12 foot ceilings

Tags

• 12 FOOT CEILINGS
• ROOFS REPLACED
• NEW WINDOWS INSTALLED
• BACK DECK REPLACED
• GUTTERS INSTALLED
• WIRED WORKSHOP

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.2% in Eclectic — 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 57/100 on livability (#380 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, amenities F, commute F.
• Elmore County (town): math 27% / reading 54% proficiency, ranked #21 of 129 in AL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Elmore County in 2024 (0 in 5+ unit buildings).

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.
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 D-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. 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: 1.15% ✓
• Cap rate: 10.18%
• Cash-on-cash: 13.87%
• DSCR: 1.62
• GRM: 7.2

CMA / ARV

• ARV (median comp): $195,929
• List price: $165,000
• Delta: -15.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
365 Kowaliga Rd	0.06mi	2/1.5	1,578 (+6%)	23mo	$179,900	$114	67
280 W Main St	0.34mi	2/1.0	1,376 (-8%)	13mo	$85,000	$62	56
326 Jean St	0.68mi	3/2.0 (+1)	1,584 (+6%)	11mo	$235,000	$148	44

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $7,187
• Equity at exit: $24,602

10-year hold

• IRR: 13.5%
• Equity multiple: 2.08×
• Total profit: $49,725
• 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 36024

• Active inventory: 81
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$33 /mo · $397/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $534

Break-even live

Break-even rent $1,224

Max offer price $165,000

Occupancy floor 67%

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
165 River Stone Way Eclectic, AL	3.0	2.0	1599	$1,900	$1.19	20d	1	0.79mi

Listing history 19 events

1. 2026-06-18
   days on market $165,000 Active 252 DOM
2. 2026-06-17
   days on market $165,000 Active 251 DOM
3. 2026-06-16
   days on market $165,000 Active 250 DOM
4. 2026-06-15
   days on market $165,000 Active 249 DOM
5. 2026-06-14
   days on market $165,000 Active 247 DOM
6. 2026-06-13
   days on market $165,000 Active 246 DOM
7. 2026-06-10
   days on market $165,000 Active 244 DOM
8. 2026-06-09
   days on market $165,000 Active 243 DOM
9. 2026-06-08
   days on market $165,000 Active 242 DOM
10. 2026-06-07
    days on market $165,000 Active 241 DOM
11. 2026-06-05
    days on market $165,000 Active 238 DOM
12. 2026-06-03
    days on market $165,000 Active 237 DOM
13. 2026-06-02
    days on market $165,000 Active 236 DOM
14. 2026-06-01
    days on market $165,000 Active 235 DOM
15. 2026-05-31
    days on market $165,000 Active 234 DOM
16. 2026-05-30
    days on market $165,000 Active 233 DOM
17. 2026-02-24
    soldstatus $140,000
18. 2026-02-24
    soldstatus $93,333
19. 2025-10-09
    listed $165,000 Active 656-char remark

    Show marketing remark (656 chars)

    This 1930 home is located in Eclectic, AL and within walking distance of downtown. 12 foot ceilings throughout. Home was renovated in 2004 but could use some cosmetic updates. Roofs on the home and garage were replaced in 2024, new windows were installed 2024 and the back deck was replaced in 2025. Gutters were installed on the home and the garage in 2025. This 2 bed, 2 bath, 1609 square foot home is sitting on . 69 acres and could easily have a 3rd bedroom with little cost or effort. There is a wired workshop in the backyard as well as a small unfinished walk in basement. There is a floored attic for extra storage space. Home is being sold as 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: $397 · $33/mo
• Projected year-2 tax: $677 · $56/mo
• Expected delta: +$279/yr (+$23/mo · 70.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $22,800
• − Mortgage interest: −$9,243
• − Property taxes: −$397
• − Insurance: −$825
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$4,800
• Taxable income: $3,887
• Est. tax owed @ 24.0%: −$933
• After-tax cash flow: $5,473/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: Elmore County
• NCES district ID: 0101290
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 54% ▲ 3.00%
• Median HH income: $54,898
• Composite: 35.27/100
• National rank: #4974
• State rank: #21 of 129 in AL

Livability — Eclectic

• Score: 57/100
• State rank: #380
• US rank: #21738

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eclectic, AL
• Population (ZIP): 6,198

Population outlook (Elmore County) Hauer SSP2

• Today (2025): 85,154 people
• By 2030: 86,667 · +1.8%
• By 2040: 89,014 · +4.5%
• By 2050: 90,331 · +6.1%
• By 2075: 96,096 · +12.8%
• By 2100: 95,290 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 7% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Serbian 2% Italian 2% Lithuanian 1%
• Foreign-born: 0%

Political lean MEDSL · Elmore

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -50.9pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+48.2 2016: R+52.0 2012: R+48.8 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.24%
• Current HPI: 190.9501
• 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

-43.4% since first listed

3 events — show timeline

• 2026-02-24 Sold (Public Records) $93,333 Public Records
• 2026-02-24 Sold (Public Records) $140,000 Public Records
• 2025-10-09 Listed $165,000 ForSaleByOwner.com

Property tax history

+5.6%/yr

Latest (2025): $397 · +5.9% YoY. Source: county tax records.