1613 Ward Dr NW · Cullman, AL 35055

$185,000

2 bd · 2.5 ba · 1,656 sqft · SingleFamily public records · 56 Days on market

Built 1970 0.31 ac lot $112/sqft · 12% below area Est $211k · 12% under ↓ 5% since listing

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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).

• ARV discount +13.0/15.0
• Cash flow +11.9/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming brick home in the heart of Cullman offering space, convenience, and solid construction! This well-built property features a 2-car garage, a detached outbuilding perfect for storage or a workshop, and a storm shelter for added peace of mind. The home sits on a nice, spacious yard ideal for outdoor living, gardening, or entertaining. Inside, you’ll find a home that could benefit from some updates, giving you the perfect opportunity to add your personal touch and increase value. Structurally sound and full of potential, this property is a great investment for homeowners or investors alike. Located just minutes from local schools, restaurants, and downtown Cullman, you’ll e

Key facts

• Spacious yard
• Detached outbuilding
• Brick home

Tags

• BRICK HOME
• DETACHED OUTBUILDING
• STORM SHELTER
• SPACIOUS YARD
• LOCAL SCHOOLS
• DOWNTOWN CULLMAN

Property features AI

Exterior

• Parking: Attached garage facing front; Concrete driveway; 2 garage spaces
• Utilities: Natural gas available and connected; Electricity connected; Public sewer; Water connected
• Home design: Single-family residence; Residential property
• Construction: Brick and vinyl siding construction; Shingle roof; Brick/mortar and slab foundation; Built above grade finished area of 1,656
• Exterior features: Back yard; Front yard; Level lot; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Natural gas heating; Wall furnace; Central air conditioning
• Interior features: Storage; Electric dryer hookup; Washer hookup; Laundry room on main level
• Laundry & utility: Main-level laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-48 ($-579/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (28.1% below list).
• Recommended offer: $133k (28.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.8% in Cullman — 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 71/100 on livability (#36 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, commute F, health & safety F.
• Cullman City (town): math 38% / reading 65% proficiency, ranked #13 of 129 in AL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Cullman City Primary School (523 students, 42% FRL); Cullman Middle School (math 32% / reading 68%, grade C, #25 of 257 statewide, top 10%, 528 students, 34% FRL); Cullman High School (math 34% / reading 41%, grade F, #38 of 305 statewide, top 12%, 997 students, 31% FRL).
• Market conditions: 344 active listings in the ZIP; 180 units permitted in Cullman 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,963 (28.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.72% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.12%
• DSCR: 0.95
• GRM: 11.6

CMA / ARV

• ARV (median comp): $210,748
• List price: $185,000
• Delta: -12.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 Ward Dr NW	0.00mi	2/2.5	1,656 (0%)	0mo	$175,000	$106	100
605 Dale Ave NW	0.39mi	3/2.5 (+1)	1,686 (+2%)	5mo	$221,800	$132	70
1543 Scott St NW	0.24mi	3/1.5 (+1)	1,560 (-6%)	15mo	$175,000	$112	58
806 Lakeview Ave NW	0.60mi	3/2.0 (+1)	1,684 (+2%)	11mo	$239,900	$142	53
612 Reid Dr NW	0.41mi	3/2.0 (+1)	1,480 (-11%)	8mo	$285,000	$193	50
1643 Katherine St NW	0.36mi	3/2.5 (+1)	1,900 (+15%)	6mo	$225,000	$118	48
204 NW Piney Dr	0.34mi	3/2.0 (+1)	1,445 (-13%)	12mo	$203,000	$140	46
204 Piney Point Dr NW	0.34mi	3/2.0 (+1)	1,445 (-13%)	12mo	$203,000	$140	46
1301 Ann St NW	0.69mi	3/2.0 (+1)	1,602 (-3%)	12mo	$170,000	$106	46
1608 Pansy St NW	0.67mi	3/2.0 (+1)	1,856 (+12%)	11mo	$236,000	$127	32

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: -18.2%
• Equity multiple: 0.36×
• Total profit: $-33,142
• Equity at exit: $27,584

10-year hold

• IRR: -10.6%
• Equity multiple: 0.36×
• Total profit: $-33,186
• Equity at exit: $15,995

Cash invested: $51,800 (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 35055

• Home prices YoY: -14.4%
• Active inventory: 344
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $1,330 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$51 /mo · $617/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-48

Break-even live

Break-even rent $1,391

Max offer price $176,474

Occupancy floor 99%

Sensitivity live

Price	-10% $56	-5% $4	+0% $-48	+5% $-101	+10% $-153
Rent	-10% $-153	-5% $-101	+0% $-48	+5% $4	+10% $57
Rate	-1.0pp $45	-0.5pp $-1	base $-48	+0.5pp $-96	+1.0pp $-145

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-16
   status $185,000 Pending 56 DOM
2. 2026-06-15
   days on market $185,000 Active 56 DOM
3. 2026-06-14
   days on market $185,000 Active 54 DOM
4. 2026-06-12
   days on market $185,000 Active 53 DOM
5. 2026-06-09
   days on market $185,000 Active 50 DOM
6. 2026-06-08
   days on market $185,000 Active 49 DOM
7. 2026-06-07
   days on market $185,000 Active 48 DOM
8. 2026-06-05
   days on market $185,000 Active 45 DOM
9. 2026-06-03
   days on market $185,000 Active 44 DOM
10. 2026-06-02
    days on market $185,000 Active 43 DOM
11. 2026-06-01
    days on market $185,000 Active 42 DOM
12. 2026-05-31
    days on market $185,000 Active 41 DOM
13. 2026-05-30
    days on market $185,000 Active 40 DOM
14. 2026-05-12
    status Active 918-char remark
15. 2026-04-26
    historical Active Under Contract 918-char remark
16. 2026-04-20
    listed $185,000 Active 918-char remark

ⓘ 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: $617 · $51/mo
• Projected year-2 tax: $759 · $63/mo
• Expected delta: +$141/yr (+$12/mo · 22.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,956
• − Mortgage interest: −$10,363
• − Property taxes: −$617
• − Insurance: −$925
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − Depreciation: −$5,382
• Taxable loss: −$3,884
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $353/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: Cullman City
• NCES district ID: 0100990
• Math proficiency: 38% ▼ -32.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $38,339
• Composite: 42.81/100
• National rank: #3140
• State rank: #13 of 129 in AL

Livability — Cullman

• Score: 71/100
• State rank: #36
• US rank: #6789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cullman, AL
• County: Cullman County · 47,767 people
• City population: 34,660
• Metro: Cullman, AL
• Population (ZIP): 23,115
• Household income: $58,405
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 499.0

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.60%
• Current HPI: 259.5471
• Rent YoY: —
• Metro: Cullman, 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

-5.4% since first listed

5 events — show timeline

• 2026-06-16 Sold (MLS) $175,000 SAARMLS
• 2026-06-15 Pending — SAARMLS
• 2026-05-12 Relisted — SAARMLS
• 2026-04-26 Contingent — SAARMLS
• 2026-04-20 Listed $185,000 SAARMLS

Property tax history

+5.2%/yr

Latest (2025): $617 · +7.0% YoY. Source: county tax records.