1505 11th Ave SE · Decatur, AL 35601

$139,900

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 152 Days on market

Built 1954 0.26 ac lot $121/sqft · 6% below area Est $180k · 22% 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 +15.5/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +3.3/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

Key facts

• Functional kitchen
• Spacious yard
• Move-in ready

Tags

• FUNCTIONAL KITCHEN
• HARDWOOD FLOORS
• LAUNDRY HOOKUPS
• SPACIOUS YARD
• MOVE-IN READY
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $55 ($665/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 $116k (17.4% below list).
• Recommended offer: $116k (17.4% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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; 21 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 81% 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 $967 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 152 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $140k implies a 77% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,601 (17.4% below list)

Questions for the listing agent

1. It's been on market 152 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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: 0.83% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.70%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (median comp): $179,681
• List price: $139,900
• Delta: -22.14%
• 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
1207 North St SE	0.23mi	2/2.0 (-1)	1,172 (+1%)	6mo	$136,000	$116	74
909 9th St SE	0.29mi	2/1.0 (-1)	1,230 (+6%)	2mo	$182,000	$148	70
1209 11th Ave SE	0.37mi	3/1.0	1,068 (-8%)	1mo	$118,500	$111	69
1419 10th Ave SE	0.10mi	3/1.5	1,320 (+14%)	2mo	$175,000	$133	68
1822 North St SE	0.73mi	3/1.0	1,163 (+0%)	2mo	$155,000	$133	64
1002 7th Ave SE	0.70mi	3/2.0	1,172 (+1%)	2mo	$153,000	$131	60
1120 7th Ave SE	0.51mi	3/1.0	1,040 (-10%)	0mo	$120,000	$115	59
1112 9th Ave SE	0.49mi	3/1.5	1,295 (+12%)	3mo	$157,000	$121	53
1407 20th Ave SE	0.73mi	3/1.0	1,238 (+7%)	2mo	$105,000	$85	53
1605 SE 7th St	0.68mi	2/1.0 (-1)	1,113 (-4%)	5mo	$130,000	$117	52
1804 Enolam Blvd SE	0.75mi	3/1.0	1,032 (-11%)	2mo	$164,900	$160	45
1607 College St SE	0.53mi	2/1.0 (-1)	988 (-15%)	0mo	$134,900	$137	45

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-17,217
• Equity at exit: $20,860

10-year hold

• IRR: -0.8%
• Equity multiple: 0.94×
• Total profit: $-2,266
• Equity at exit: $12,096

Cash invested: $39,172 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,156 high
• Mortgage (P&I): −$734
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $55

Break-even live

Break-even rent $1,086

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $135	-5% $95	+0% $55	+5% $16	+10% $-24
Rent	-10% $-36	-5% $10	+0% $55	+5% $101	+10% $147
Rate	-1.0pp $126	-0.5pp $91	base $55	+0.5pp $19	+1.0pp $-18

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1221 North St SE Decatur, AL	2.0	1.0	937	$775	$0.83	44d	2	0.25mi
1628 8th St SE Decatur, AL	2.0	1.0	1012	$1,200	$1.19	44d	1	0.66mi
1801 7th St SE Decatur, AL	4.0	2.0	1475	$1,550	$1.05	44d	1	0.76mi
1205 Broadus Ave SE Decatur, AL	3.0	2.0	1306	$1,195	$0.92	44d	1	0.78mi
1821 7th St SE Decatur, AL	3.0	1.0	908	$1,100	$1.21	24d	1	0.80mi
1314 Pennylane SE Decatur, AL	3.0	1.5	1100	$1,198	$1.09	24d	1	0.92mi
1602 Brookridge Dr SW Decatur, AL	1.0–2.0	1.0–2.0	797	$1,174	$1.47	44d	13	0.93mi
2115 Central Pkwy SW Decatur, AL	1.0–3.0	1.0	821	$950	$1.16	44d	1	0.97mi
1220 2nd Ave SW Unit 2nd 7 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	0.98mi
201 Bluebird Ln SW Decatur, AL	2.0	1.0	950	$898	$0.94	44d	11	1.00mi
324 Cardinal Dr SW Decatur, AL	2.0	1.0	681	$952	$1.40	44d	14	1.00mi
1208 2nd Ave SW Unit 1208 28 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	1.00mi
227 8th St SW Unit 19 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	1.01mi
603 Prospect Dr SE Decatur, AL	3.0	1.0	1362	$1,795	$1.32	44d	1	1.07mi
2136 Eastbrook SE Decatur, AL	2.0	2.0	1400	$1,495	$1.07	44d	1	1.10mi
315 Hillside Rd SW Decatur, AL	3.0	1.5	1344	$1,400	$1.04	44d	1	1.20mi
1018 Grant St SE Unit 1026-4 Decatur, AL	2.0	1.0	890	$800	$0.90	44d	1	1.29mi
2234 Harrison St SE Decatur, AL	2.0	1.0	850	$925	$1.09	15d	1	1.30mi
1018 Grant St SE Unit 1018-4 Decatur, AL	2.0	1.0	890	$775	$0.87	44d	1	1.31mi
818 Grant St SE Decatur, AL	2.0	1.0	910	$1,300	$1.43	44d	1	1.31mi
102 Elm Ct NE Decatur, AL	3.0	1.0	1216	$1,450	$1.19	24d	1	1.46mi

Listing history 27 events

1. 2026-06-19
   days on market $139,900 Active 152 DOM
2. 2026-06-18
   days on market $139,900 Active 151 DOM
3. 2026-06-17
   days on market $139,900 Active 150 DOM
4. 2026-06-16
   days on market $139,900 Active 149 DOM
5. 2026-06-15
   days on market $139,900 Active 148 DOM
6. 2026-06-14
   days on market $139,900 Active 146 DOM
7. 2026-06-13
   pricedays on market $139,900 Active 145 DOM
8. 2026-06-10
   days on market $149,900 Active 143 DOM
9. 2026-06-09
   days on market $149,900 Active 142 DOM
10. 2026-06-08
    days on market $149,900 Active 141 DOM
11. 2026-06-07
    days on market $149,900 Active 140 DOM
12. 2026-06-05
    days on market $149,900 Active 137 DOM
13. 2026-06-03
    days on market $149,900 Active 136 DOM
14. 2026-06-02
    days on market $149,900 Active 135 DOM
15. 2026-06-01
    days on market $149,900 Active 134 DOM
16. 2026-05-31
    days on market $149,900 Active 133 DOM
17. 2026-05-30
    days on market $149,900 Active 132 DOM
18. 2026-05-08
    price $149,900 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

19. 2026-04-17
    price $154,900 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

20. 2026-03-26
    status Active 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

21. 2026-02-18
    status Pending 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

22. 2026-01-30
    price $159,900 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

23. 2026-01-15
    price $164,900 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

24. 2025-12-13
    listed $169,900 Active 474-char remark

    Show marketing remark (474 chars)

    This 3-bedroom, 2-bath home features a practical layout with a functional kitchen and comfortable living areas. Hardwood floors run throughout much of the interior, and laundry hookups are conveniently located inside. The property sits on a generous lot with a spacious yard, providing plenty of room for outdoor activities, gardening, or entertaining. Well-maintained and move-in ready, this home combines indoor comfort with outdoor space in a convenient Decatur location.

25. 2021-09-17
    soldstatus $79,000
26. 2021-08-31
    soldstatus $65,000
27. 2009-08-07
    soldstatus $72,900

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $791 · $66/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 5/10 Major FEMA zone X (unshaded) · 43% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 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: $13,872
• − Mortgage interest: −$7,837
• − Property taxes: −$791
• − Insurance: −$700
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$4,070
• Taxable loss: −$1,744
• Est. tax savings @ 24.0%: +$419
• After-tax cash flow: $1,083/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

+105.6% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $149,900 VMLS
• 2026-04-17 Price Changed $154,900 VMLS
• 2026-03-26 Relisted — VMLS
• 2026-02-18 Pending — VMLS
• 2026-01-30 Price Changed $159,900 VMLS
• 2026-01-15 Price Changed $164,900 VMLS
• 2025-12-13 Listed $169,900 VMLS
• 2021-09-17 Sold (Public Records) $79,000 Public Records
• 2021-08-31 Sold (Public Records) $65,000 Public Records
• 2009-08-07 Sold (Public Records) $72,900 Public Records

Property tax history

+9.9%/yr

Latest (2025): $791 · +0.0% YoY. Source: county tax records.