228 Church St · Andalusia, AL 36420

$35,000

3 bd · 1.0 ba · 1,600 sqft · SingleFamily · 95 Days on market

Built 1910 Poor condition 0.35 ac lot $22/sqft · 77% below area ↓ 36% since listing

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Mixed-Use Opportunity in the Heart of Downtown Andalusia, AL Prime location. Endless potential. Situated in the heart of downtown Andalusia, this versatile property offers the rare opportunity to be used as either residential or commercial space. Whether you're envisioning a charming home, office space, boutique storefront, or investment property, the possibilities are wide open. This 3-bedroom, 1-bath property sits on a beautiful lot with strong curb appeal and excellent visibility. While it requires a full renovation, it presents a true diamond-in-the-rough opportunity for investors, entrepreneurs, or buyers looking to restore and reimagine a property in a growing downtown district. The full basement provides abundant storage space and additional functional square footage — ideal for inventory, workspace, or future customization. If you're looking for location, flexibility, and upside potential, this property delivers. Bring your vision and make it your own.

Key facts

• Versatile property
• Full renovation
• Endless potential

Tags

• MIXED-USE OPPORTUNITY
• PRIME LOCATION
• ENDLESS POTENTIAL
• VERSATILE PROPERTY
• FULL RENOVATION
• ABUNDANT STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $32k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.3% vs local median 4.1% in Andalusia — 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 65/100 on livability (#142 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, amenities F.
• Andalusia City (town): math 29% / reading 48% proficiency, ranked #35 of 129 in AL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 13 units permitted in Covington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($242 loan paydown + $2k appreciation (6.8% local appreciation)).
• Covington County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($32k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $31,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 3.19% ✓
• Cap rate: 28.26%
• Cash-on-cash: 78.44%
• DSCR: 4.49
• GRM: 2.6

CMA / ARV

• ARV (median comp): $148,969
• List price: $35,000
• Delta: -76.51%
• 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
409 Church St	0.22mi	3/2.0	1,509 (-6%)	9mo	$215,000	$142	68
207 Robinson Ave	0.47mi	3/2.0	1,660 (+4%)	2mo	$130,500	$79	66
400 Dunson St	0.34mi	3/2.0	1,675 (+5%)	8mo	$147,000	$88	66
405 Church St	0.20mi	3/2.0	1,509 (-6%)	16mo	$229,900	$152	64
208 Mcgowin St	0.37mi	4/1.0 (+1)	1,440 (-10%)	2mo	$90,000	$63	60
308 Woodruff St	0.53mi	3/2.0	1,460 (-9%)	4mo	$102,000	$70	53
429 Pugh St	0.74mi	3/2.0	1,688 (+6%)	7mo	$125,000	$74	47
223 Walker Ave	0.38mi	3/1.0	1,376 (-14%)	16mo	$60,000	$44	46
603 South Three Notch	0.44mi	2/2.0 (-1)	1,423 (-11%)	13mo	$135,000	$95	42
424 College St	0.70mi	3/2.0	1,806 (+13%)	2mo	$180,000	$100	40
606 Mclendon Ave	0.60mi	3/1.0	1,368 (-14%)	9mo	$40,000	$29	40
727 South Three Notch St	0.64mi	3/2.0	1,770 (+11%)	18mo	$185,000	$105	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 85.9%
• Equity multiple: 6.37×
• Total profit: $52,628
• Equity at exit: $23,818

10-year hold

• IRR: 82.8%
• Equity multiple: 13.50×
• Total profit: $122,525
• Equity at exit: $44,854

Cash invested: $9,800 (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 36420

• Home prices YoY: 2.9%
• Active inventory: 87
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,117 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $641

Break-even live

Break-even rent $306

Max offer price $35,000

Occupancy floor 38%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $35,000 Active 95 DOM
2. 2026-06-18
   days on market $35,000 Active 94 DOM
3. 2026-06-17
   days on market $35,000 Active 93 DOM
4. 2026-06-16
   days on market $35,000 Active 92 DOM
5. 2026-06-15
   days on market $35,000 Active 91 DOM
6. 2026-06-14
   days on market $35,000 Active 89 DOM
7. 2026-06-12
   days on market $35,000 Active 88 DOM
8. 2026-06-09
   days on market $35,000 Active 85 DOM
9. 2026-06-09
   status $35,000 Active 84 DOM
10. 2026-05-04
    price $35,000 981-char remark

    Show marketing remark (981 chars)

    Mixed-Use Opportunity in the Heart of Downtown Andalusia, AL Prime location. Endless potential. Situated in the heart of downtown Andalusia, this versatile property offers the rare opportunity to be used as either residential or commercial space. Whether you're envisioning a charming home, office space, boutique storefront, or investment property, the possibilities are wide open. This 3-bedroom, 1-bath property sits on a beautiful lot with strong curb appeal and excellent visibility. While it requires a full renovation, it presents a true diamond-in-the-rough opportunity for investors, entrepreneurs, or buyers looking to restore and reimagine a property in a growing downtown district. The full basement provides abundant storage space and additional functional square footage — ideal for inventory, workspace, or future customization. If you're looking for location, flexibility, and upside potential, this property delivers. Bring your vision and make it your own.

11. 2026-04-02
    price $48,500 981-char remark

    Show marketing remark (981 chars)

    Mixed-Use Opportunity in the Heart of Downtown Andalusia, AL Prime location. Endless potential. Situated in the heart of downtown Andalusia, this versatile property offers the rare opportunity to be used as either residential or commercial space. Whether you're envisioning a charming home, office space, boutique storefront, or investment property, the possibilities are wide open. This 3-bedroom, 1-bath property sits on a beautiful lot with strong curb appeal and excellent visibility. While it requires a full renovation, it presents a true diamond-in-the-rough opportunity for investors, entrepreneurs, or buyers looking to restore and reimagine a property in a growing downtown district. The full basement provides abundant storage space and additional functional square footage — ideal for inventory, workspace, or future customization. If you're looking for location, flexibility, and upside potential, this property delivers. Bring your vision and make it your own.

12. 2026-02-28
    listed $55,000 Active 981-char remark

    Show marketing remark (981 chars)

    Mixed-Use Opportunity in the Heart of Downtown Andalusia, AL Prime location. Endless potential. Situated in the heart of downtown Andalusia, this versatile property offers the rare opportunity to be used as either residential or commercial space. Whether you're envisioning a charming home, office space, boutique storefront, or investment property, the possibilities are wide open. This 3-bedroom, 1-bath property sits on a beautiful lot with strong curb appeal and excellent visibility. While it requires a full renovation, it presents a true diamond-in-the-rough opportunity for investors, entrepreneurs, or buyers looking to restore and reimagine a property in a growing downtown district. The full basement provides abundant storage space and additional functional square footage — ideal for inventory, workspace, or future customization. If you're looking for location, flexibility, and upside potential, this property delivers. Bring your vision and make it your own.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $13,404
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$1,018
• Taxable income: $7,581
• Est. tax owed @ 24.0%: −$1,819
• After-tax cash flow: $5,868/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.

Condition & rehab AI · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including structural repairs, painting, and landscaping, to become move-in ready.

Repairs flagged

• Major Exposed framing — Structural integrity compromised
• Major Missing cabinets and fixtures — Basic functionality compromised
• Major Peeling paint — Safety hazard and aesthetic issue
• Major Overgrown vegetation — Safety hazard and aesthetic issue

Value-add opportunities

• Both Painting and landscaping — Improves curb appeal and safety
• Both Reframing and structural repairs — Restores structural integrity and functionality
• Both Cabinets and fixtures — Restores basic functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed framing · Structural integrity compromised	Major	$15,000–50,000
Missing cabinets and fixtures · Basic functionality compromised	Major	$15,000–50,000
Peeling paint · Safety hazard and aesthetic issue	Major	$15,000–50,000
Overgrown vegetation · Safety hazard and aesthetic issue	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Painting and landscaping — Improves curb appeal and safety ↑
• Both Reframing and structural repairs — Restores structural integrity and functionality ↑
• Both Cabinets and fixtures — Restores basic functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Andalusia City
• NCES district ID: 0100060
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $32,645
• Composite: 31.52/100
• National rank: #5964
• State rank: #35 of 129 in AL

Livability — Andalusia

• Score: 65/100
• State rank: #142
• US rank: #13465

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Andalusia, AL
• City population: 9,861
• Population (ZIP): 10,358

Population outlook (Covington County) Hauer SSP2

• Today (2025): 37,007 people
• By 2030: 36,401 · -1.6%
• By 2040: 34,983 · -5.5%
• By 2050: 33,437 · -9.6%
• By 2075: 29,753 · -19.6%
• By 2100: 25,109 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 13% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Covington

• 2024 margin: Solid R (+72.4) · D 13.6% · R 86.0%
• 2008→2024 swing: -14.1pp toward R · 2008: -58.3pp · 2024: -72.4pp
• All cycles: 2024: R+72.4 2020: R+68.1 2016: R+68.5 2012: R+58.3 2008: R+58.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.81%
• Current HPI: 239.35
• Rent YoY: —
• Metro: —
• 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

-36.4% since first listed

3 events — show timeline

• 2026-05-04 Price Changed $35,000 SAMLS
• 2026-04-02 Price Changed $48,500 SAMLS
• 2026-02-28 Listed $55,000 SAMLS