2221 Harrison St · Decatur, AL 35601

$139,000

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 105 Days on market

Built 1962 10,454 sqft lot $128/sqft · 32% below area Est $204k · 32% 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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 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

Currently a Rental Property and on a year lease till October 31st 2026.. Monthly rental $1,100. Showing by Appointment Only 48 hr Notice. This Property has a new roof put on 2025, vinyl siding house. This property is 3bdrm 1bath, with covered carport, split unit and recently remodeled.

Key facts

• Split unit
• Recently remodeled
• Covered carport

Tags

• NEW ROOF
• VINYL SIDING
• COVERED CARPORT
• SPLIT UNIT
• RECENTLY REMODELED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $39 ($463/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 $120k (13.5% below list).
• Recommended offer: $120k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $961 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 105 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $55k; list at $139k implies a 153% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood 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 $120,194 (13.5% 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 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.86% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• GRM: 9.6

CMA / ARV

• ARV (median comp): $204,344
• List price: $139,000
• Delta: -31.98%
• 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
2221 11th St SE	0.08mi	3/1.5	1,158 (+7%)	12mo	$189,000	$163	73
1304 Pennylane	0.34mi	3/1.5	1,102 (+2%)	11mo	$140,000	$127	71
1216 Seton Ave	0.43mi	3/1.5	1,110 (+2%)	7mo	$157,000	$141	68
2107 Harrison St SE	0.27mi	3/1.0	1,022 (-6%)	13mo	$115,000	$113	67
2006 13th St	0.49mi	3/1.0	1,106 (+2%)	10mo	$166,500	$151	66
1907 Harrison St	0.53mi	3/1.0	1,075 (-1%)	10mo	$154,900	$144	66
1822 North St SE	0.57mi	3/1.0	1,163 (+7%)	2mo	$155,000	$133	60
1406 20th Ave SE	0.47mi	3/1.0	975 (-10%)	3mo	$151,000	$155	59
2004 Harrison St	0.45mi	3/1.0	945 (-13%)	4mo	$99,000	$105	54
1407 20th Ave SE	0.50mi	3/1.0	1,238 (+14%)	2mo	$105,000	$85	52
2004 Enolam Blvd SE	0.58mi	3/2.0	1,000 (-8%)	12mo	$153,400	$153	46
1907 SE Enolam Blvd	0.65mi	2/1.0 (-1)	1,020 (-6%)	14mo	$141,000	$138	43

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: -12.6%
• Equity multiple: 0.54×
• Total profit: $-18,028
• Equity at exit: $20,725

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-3,870
• Equity at exit: $12,018

Cash invested: $38,920 (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: $1,202 high
• Mortgage (P&I): −$729
• Tax from tax record: −$58 /mo · $692/yr
• Insurance: −$58
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $39

Break-even live

Break-even rent $1,153

Max offer price $139,000

Occupancy floor 92%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2234 Harrison St SE Decatur, AL	2.0	1.0	850	$925	$1.09	14d	1	0.09mi
1314 Pennylane SE Decatur, AL	3.0	1.5	1100	$1,198	$1.09	23d	1	0.30mi
2136 Eastbrook SE Decatur, AL	2.0	2.0	1400	$1,495	$1.07	44d	1	0.40mi
1205 Broadus Ave SE Decatur, AL	3.0	2.0	1306	$1,195	$0.92	44d	1	0.57mi
1821 7th St SE Decatur, AL	3.0	1.0	908	$1,100	$1.21	23d	1	0.73mi
1801 7th St SE Decatur, AL	4.0	2.0	1475	$1,550	$1.05	44d	1	0.77mi
1628 8th St SE Decatur, AL	2.0	1.0	1012	$1,200	$1.19	44d	1	0.78mi
1221 North St SE Decatur, AL	2.0	1.0	937	$775	$0.83	44d	2	1.03mi

Listing history 21 events

1. 2026-06-19
   days on market $139,000 Active 105 DOM
2. 2026-06-18
   days on market $139,000 Active 104 DOM
3. 2026-06-17
   days on market $139,000 Active 103 DOM
4. 2026-06-16
   days on market $139,000 Active 102 DOM
5. 2026-06-15
   days on market $139,000 Active 101 DOM
6. 2026-06-14
   days on market $139,000 Active 99 DOM
7. 2026-06-13
   days on market $139,000 Active 98 DOM
8. 2026-06-10
   days on market $139,000 Active 96 DOM
9. 2026-06-09
   days on market $139,000 Active 95 DOM
10. 2026-06-08
    days on market $139,000 Active 94 DOM
11. 2026-06-07
    days on market $139,000 Active 93 DOM
12. 2026-06-05
    days on market $139,000 Active 90 DOM
13. 2026-06-03
    days on market $139,000 Active 89 DOM
14. 2026-06-02
    days on market $139,000 Active 88 DOM
15. 2026-06-01
    days on market $139,000 Active 87 DOM
16. 2026-05-31
    days on market $139,000 Active 86 DOM
17. 2026-05-30
    days on market $139,000 Active 85 DOM
18. 2026-03-06
    listed $139,000 Active 286-char remark

    Show marketing remark (286 chars)

    Currently a Rental Property and on a year lease till October 31st 2026.. Monthly rental $1,100. Showing by Appointment Only 48 hr Notice. This Property has a new roof put on 2025, vinyl siding house. This property is 3bdrm 1bath, with covered carport, split unit and recently remodeled.

19. 2017-12-15
    soldstatus $55,000 566-char remark

    Show marketing remark (566 chars)

    Perfect starter home! Fenced yard includes a dog kennel and detached storage building plus extra parking in front and metal siding! The kitchen has been opened up to the living room making the home much more appealing and giving it more of an open living design. Patio space inside the fenced yard is perfect for sitting and relaxing after a long day at work or maybe on the weekend for some extra peace and quiet. Sealed heat in the ceiling allows you to control each room temp separately. All facts & measurements to be verified by purchaser prior to contract.

20. 2017-09-25
    listed $65,000 566-char remark

    Show marketing remark (566 chars)

    Perfect starter home! Fenced yard includes a dog kennel and detached storage building plus extra parking in front and metal siding! The kitchen has been opened up to the living room making the home much more appealing and giving it more of an open living design. Patio space inside the fenced yard is perfect for sitting and relaxing after a long day at work or maybe on the weekend for some extra peace and quiet. Sealed heat in the ceiling allows you to control each room temp separately. All facts & measurements to be verified by purchaser prior to contract.

21. 2002-04-01
    soldstatus $50,000

ⓘ 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: $692 · $58/mo
• Projected year-2 tax: $692 · $58/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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $14,423
• − Mortgage interest: −$7,786
• − Property taxes: −$692
• − Insurance: −$1,492
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$4,044
• Taxable loss: −$1,899
• Est. tax savings @ 24.0%: +$456
• After-tax cash flow: $918/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

+178.0% since first listed

4 events — show timeline

• 2026-03-06 Listed $139,000 VMLS
• 2017-12-15 Sold (MLS) $55,000 VMLS
• 2017-09-25 Listed $65,000 VMLS
• 2002-04-01 Sold (Public Records) $50,000 Public Records

Property tax history

+10.8%/yr

Latest (2025): $692 · +7.0% YoY. Source: county tax records.