1517 Chestnut St SE · Decatur, AL 35601

$136,900

2 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 119 Days on market

Built 1950 0.28 ac lot $127/sqft · at area comps Est $137k · at est.

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Why this score? — see what drove the D 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 +14.9/30.0
• ARV discount +7.6/15.0
• DSCR +4.6/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +3.1/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADORABLE Craftsman/Bungalow with space where it counts! this 2BR/1BA offers a large living room with fireplace and bookshelves each side. Updated bathroom tile surround, and a functional kitchen complete with range and dishwasher. Out back you'll find generous yard plus a detached 2 car garage/workshop-ideal for storage, projects, or extra parking. Whether your a first time buyer, downsizing, or looking for a solid investment this one checks the boxes. Great layout. Great yard. Great potential.

Key facts

• Functional kitchen
• Bookshelves
• Large living room

Tags

• LARGE LIVING ROOM
• FIREPLACE
• BOOKSHELVES
• UPDATED BATHROOM TILE
• FUNCTIONAL KITCHEN
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $40 ($486/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 $110k (19.3% below list).
• Recommended offer: $110k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: employment D+, crime F, amenities 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.
• Zoned schools: Oak Park Elementary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 503 students, 84% FRL); Decatur Middle School (math 17% / reading 36%, grade F, #150 of 257 statewide, top 60%, 815 students, 77% FRL); Decatur High School (math 27% / reading 27%, grade F, #90 of 305 statewide, top 35%, 1,040 students, 67% FRL) — zoned schools average 76% FRL vs 57% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 225 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $946 of loan paydown is wiped out by about $4k 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 119 days — a 9% lower offer ($125k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $110,416 (19.3% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.81% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

• ARV (median comp): $137,070
• List price: $136,900
• Delta: -0.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 SE 7th St	0.30mi	2/1.0	1,113 (+3%)	5mo	$130,000	$117	77
1504 Wadsworth St SE	0.25mi	3/1.0 (+1)	1,014 (-6%)	2mo	$137,500	$136	71
1804 Enolam Blvd SE	0.38mi	3/1.0 (+1)	1,032 (-4%)	2mo	$164,900	$160	68
1209 11th Ave SE	0.58mi	3/1.0 (+1)	1,068 (-1%)	1mo	$118,500	$111	66
1628 8th St SE	0.41mi	2/1.0	1,012 (-6%)	8mo	$155,000	$153	64
1024 9th Ave SE	0.54mi	2/1.0	1,008 (-7%)	7mo	$164,000	$163	58
1120 7th Ave SE	0.71mi	3/1.0 (+1)	1,040 (-4%)	0mo	$120,000	$115	55
911 9th Ave SE	0.51mi	2/1.0	964 (-11%)	7mo	$115,000	$119	52
1216 Seton Ave	0.70mi	3/1.5 (+1)	1,110 (+3%)	8mo	$157,000	$141	49
1002 7th Ave SE	0.63mi	3/2.0 (+1)	1,172 (+8%)	2mo	$153,000	$131	46
909 9th St SE	0.70mi	2/1.0	1,230 (+14%)	2mo	$182,000	$148	43
102 Elm Ct NE	0.62mi	3/1.0 (+1)	1,216 (+13%)	8mo	$102,000	$84	38

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-17,773
• Equity at exit: $20,412

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-4,367
• Equity at exit: $11,837

Cash invested: $38,332 (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: 225
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,104 high
• Mortgage (P&I): −$718
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $40

Break-even live

Break-even rent $1,053

Max offer price $136,900

Occupancy floor 91%

Sensitivity live

Price	-10% $118	-5% $79	+0% $40	+5% $2	+10% $-37
Rent	-10% $-47	-5% $-3	+0% $40	+5% $84	+10% $128
Rate	-1.0pp $109	-0.5pp $75	base $40	+0.5pp $5	+1.0pp $-31

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: $34,225
• Closing costs: $4,107
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 7th St SE Decatur, AL	3.0	1.0	908	$1,100	$1.21	25d	1	0.38mi
1628 8th St SE Decatur, AL	2.0	1.0	1012	$1,200	$1.19	45d	1	0.40mi
1205 Broadus Ave SE Decatur, AL	3.0	2.0	1306	$1,195	$0.92	45d	1	0.56mi
1018 Grant St SE Unit 1026-4 Decatur, AL	2.0	1.0	890	$800	$0.90	45d	1	0.58mi
1018 Grant St SE Unit 1018-4 Decatur, AL	2.0	1.0	890	$775	$0.87	45d	1	0.60mi
102 Elm Ct NE Decatur, AL	3.0	1.0	1216	$1,450	$1.19	25d	1	0.63mi
818 Grant St SE Decatur, AL	2.0	1.0	910	$1,300	$1.43	45d	1	0.69mi
603 Prospect Dr SE Decatur, AL	3.0	1.0	1362	$1,795	$1.32	45d	1	0.70mi
2136 Eastbrook SE Decatur, AL	2.0	2.0	1400	$1,495	$1.07	45d	1	0.73mi
719 5th Ave SE #1 Decatur, AL	1.0	1.0	700	$850	$1.21	45d	1	0.81mi
1314 Pennylane SE Decatur, AL	3.0	1.5	1100	$1,198	$1.09	25d	1	0.84mi
1221 North St SE Decatur, AL	2.0	1.0	937	$775	$0.83	45d	2	0.98mi
2234 Harrison St SE Decatur, AL	2.0	1.0	850	$925	$1.09	15d	1	1.16mi
516 Ferry St NE Decatur, AL	2.0	1.0	900	$1,150	$1.28	25d	1	1.22mi
227 8th St SW Unit 19 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.33mi
227 8th St SW Unit 8th 15 Decatur, AL	1.0	1.0	800	$725	$0.91	45d	1	1.33mi
1208 2nd Ave SW Unit 1208 28 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.33mi
1220 2nd Ave SW Unit 2nd 7 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.34mi
213 Wilson St NE Unit 2 Decatur, AL	2.0	1.0	975	$875	$0.90	25d	1	1.38mi
213 Wilson St NE Unit 4 Decatur, AL	2.0	1.0	975	$700	$0.72	25d	1	1.38mi
315 Hillside Rd SW Decatur, AL	3.0	1.5	1344	$1,400	$1.04	45d	1	1.45mi

Listing history 20 events

1. 2026-06-22
   days on market $136,900 Active 119 DOM
2. 2026-06-21
   days on market $136,900 Active 118 DOM
3. 2026-06-19
   days on market $136,900 Active 116 DOM
4. 2026-06-18
   days on market $136,900 Active 115 DOM
5. 2026-06-17
   days on market $136,900 Active 114 DOM
6. 2026-06-16
   days on market $136,900 Active 113 DOM
7. 2026-06-15
   days on market $136,900 Active 112 DOM
8. 2026-06-14
   days on market $136,900 Active 110 DOM
9. 2026-06-13
   days on market $136,900 Active 109 DOM
10. 2026-06-10
    days on market $136,900 Active 107 DOM
11. 2026-06-09
    days on market $136,900 Active 106 DOM
12. 2026-06-08
    days on market $136,900 Active 105 DOM
13. 2026-06-07
    days on market $136,900 Active 104 DOM
14. 2026-06-05
    days on market $136,900 Active 101 DOM
15. 2026-06-03
    days on market $136,900 Active 100 DOM
16. 2026-06-02
    days on market $136,900 Active 99 DOM
17. 2026-06-01
    days on market $136,900 Active 98 DOM
18. 2026-05-31
    days on market $136,900 Active 97 DOM
19. 2026-05-30
    days on market $136,900 Active 96 DOM
20. 2026-02-23
    listed $136,900 Active 499-char remark

    Show marketing remark (499 chars)

    ADORABLE Craftsman/Bungalow with space where it counts! this 2BR/1BA offers a large living room with fireplace and bookshelves each side. Updated bathroom tile surround, and a functional kitchen complete with range and dishwasher. Out back you'll find generous yard plus a detached 2 car garage/workshop-ideal for storage, projects, or extra parking. Whether your a first time buyer, downsizing, or looking for a solid investment this one checks the boxes. Great layout. Great yard. Great potential.

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $682 · $57/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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 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: $13,250
• − Mortgage interest: −$7,669
• − Property taxes: −$682
• − Insurance: −$684
• − Repairs & maintenance: −$1,060
• − Management: −$1,060
• − Depreciation: −$3,983
• Taxable loss: −$1,888
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $939/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

1 event — show timeline

• 2026-02-23 Listed $136,900 VMLS

Property tax history

+8.4%/yr

Latest (2025): $682 · +0.0% YoY. Source: county tax records.