321 Calhoun Dr · Florence, AL 35630

$199,900

3 bd · 2.0 ba · 1,513 sqft · SingleFamily public records · 3 Days on market

Built 1949 0.72 ac lot Est $188k · 7% over

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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 +13.7/30.0
• ARV discount +4.6/15.0
• DSCR +4.2/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Updated home with wood floors and tile baths. Detached workshop plus detached carport with storage.

Key facts

• Open floorplan
• Large backyard
• Deck

Tags

• OPEN FLOORPLAN
• LARGE FENCED DOUBLE LOT
• LARGE BACKYARD
• DECK
• WORKSHOP SHED BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $16 ($194/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 $153k (23.6% below list).
• Recommended offer: $153k (23.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Harlan Elementary School (math 12% / reading 27%, grade F, #467 of 627 statewide, top 76%, 402 students, 90% FRL); Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents rising fast (+6.2%/yr); 268 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $134k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,725 (23.6% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $187,612
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
321 Calhoun Dr	0.00mi	3/2.0	1,513 (0%)	1mo	$185,000	$122	99
208 Roosevelt Ave	0.20mi	4/2.0 (+1)	1,500 (-1%)	1mo	$219,900	$147	84
407 Seymore Ave	0.42mi	3/2.0	1,600 (+6%)	0mo	$199,000	$124	70
202 Seymore Ave	0.35mi	3/3.0	1,500 (-1%)	11mo	$194,900	$130	69
237 Wilson Ave	0.22mi	3/1.0	1,447 (-4%)	12mo	$144,300	$100	69
121 E Duncan Ave E	0.59mi	3/1.5	1,500 (-1%)	9mo	$160,000	$107	62
2314 Norwood Blvd	0.55mi	3/1.5	1,371 (-9%)	0mo	$95,000	$69	56
1926 Randolph St	0.62mi	4/2.0 (+1)	1,585 (+5%)	3mo	$205,000	$129	56
2331 Mcburney Dr	0.61mi	4/2.0 (+1)	1,616 (+7%)	1mo	$219,000	$136	54
2332 Mcburney Dr	0.63mi	3/2.0	1,683 (+11%)	3mo	$187,000	$111	50
319 Garfield Ave	0.66mi	3/2.0	1,700 (+12%)	2mo	$210,000	$124	47
2118 Mcburney Dr	0.48mi	3/1.0	1,289 (-15%)	3mo	$177,000	$137	47

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.53×
• Total profit: $-26,413
• Equity at exit: $29,806

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $34
• Equity at exit: $17,284

Cash invested: $55,972 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 268
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,527 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $16

Break-even live

Break-even rent $1,507

Max offer price $199,900

Occupancy floor 94%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2370 Roberts Ln Florence, AL	3.0	2.0	1716	$1,650	$0.96	43d	1	0.34mi
2424 Roberts Ln Florence, AL	2.0	2.0	1100	$1,095	$1.00	43d	1	0.43mi
1413 N Pine St Florence, AL	4.0	2.0	1444	$1,695	$1.17	43d	1	0.79mi
1252 Hermitage Dr Florence, AL	2.0	2.0	1250	$1,170	$0.94	43d	1	1.40mi

Listing history 6 events

1. 2026-04-24
   status Pending
2. 2026-04-20
   listed $199,900 Active
3. 2021-09-17
   soldstatus $134,000
4. 2021-09-17
   soldstatus $134,000
5. 2018-01-18
   soldstatus $72,000 104-char remark

   Show marketing remark (104 chars)

   Nice Updated home with wood floors and tile baths. Detached workshop plus detached carport with storage.

6. 2017-09-27
   listed $86,000 104-char remark

   Show marketing remark (104 chars)

   Nice Updated home with wood floors and tile baths. Detached workshop plus detached carport with storage.

ⓘ 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: $705 · $59/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$115/yr (+$10/mo · 16.3%)

ⓘ 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 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,327
• − Mortgage interest: −$11,198
• − Property taxes: −$705
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − Depreciation: −$5,815
• Taxable loss: −$3,322
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $992/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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+132.4% since first listed

6 events — show timeline

• 2026-04-24 Pending — SAARMLS
• 2026-04-20 Listed $199,900 SAARMLS
• 2021-09-17 Sold (Public Records) $134,000 Public Records
• 2021-09-17 Sold (Public Records) $134,000 Public Records
• 2018-01-18 Sold (MLS) $72,000 SAARMLS
• 2017-09-27 Listed $86,000 SAARMLS

Property tax history

+7.1%/yr

Latest (2025): $705 · +7.6% YoY. Source: county tax records.