628 Canterbury Ave · Decatur, AL 35601

$165,000

3 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 80 Days on market

Built 1974 $156/sqft · at area comps Est $163k · at est.

---

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 +14.9/30.0
• ARV discount +7.1/15.0
• DSCR +4.6/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated home in Decatur, AL! Featuring new flooring, fresh paint, and updated cabinets, this home is move-in ready. The kitchen includes a new refrigerator, stove, and dishwasher, plus space for a stackable washer and dryer. Enjoy abundant natural light from numerous windows and added comfort with ceiling fans throughout. The bathroom has been refreshed with new fixtures for a modern touch. A great opportunity for homeowners or investors alike—don’t miss this one!

Key facts

• New stove
• Fresh paint
• Updated cabinets

Tags

• NEW FLOORING
• FRESH PAINT
• UPDATED CABINETS
• NEW REFRIGERATOR
• NEW STOVE
• NEW DISHWASHER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $48 ($572/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 $128k (22.5% below list).
• Recommended offer: $128k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: employment D+, crime F, amenities 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.
• Zoned schools: Woodmeade Elementary School (math 17% / reading 37%, grade F, #392 of 627 statewide, top 65%, 354 students, 76% FRL); Austin Middle School (math 18% / reading 39%, grade F, #138 of 257 statewide, top 54%, 714 students, 77% FRL); Austin High School (math 20% / reading 24%, grade F, #142 of 305 statewide, top 51%, 1,025 students, 66% FRL) — zoned schools average 73% FRL vs 57% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 225 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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 $1k of loan paydown is wiped out by about $5k 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 80 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask is 10900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $120k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,934 (22.5% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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: 0.78% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.06
• GRM: 10.7

CMA / ARV

• ARV (median comp): $163,488
• List price: $165,000
• Delta: 0.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Canterbury Ave SW	0.06mi	3/1.0	1,014 (-4%)	12mo	$146,000	$144	80
1003 Bedford Dr SW	0.38mi	3/2.0	1,129 (+7%)	8mo	$161,800	$143	60
2026 Lowery St SW	0.44mi	2/1.0 (-1)	1,030 (-3%)	16mo	$125,000	$121	57
1505 Marion St SW	0.50mi	3/2.0	1,115 (+5%)	16mo	$179,000	$161	50
223 12th Ave SW	0.66mi	2/2.0 (-1)	1,004 (-5%)	7mo	$163,500	$163	46
1510 Faye St	0.42mi	3/2.0	1,215 (+15%)	23mo	$175,000	$144	33
110 13th Ave NW	0.73mi	3/1.5	1,190 (+12%)	21mo	$147,500	$124	26

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: -12.8%
• Equity multiple: 0.53×
• Total profit: $-21,605
• Equity at exit: $24,602

10-year hold

• IRR: -1.8%
• Equity multiple: 0.87×
• Total profit: $-5,990
• Equity at exit: $14,266

Cash invested: $46,200 (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: 225
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,279 high
• Mortgage (P&I): −$865
• Tax from tax record: −$29 /mo · $348/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $48

Break-even live

Break-even rent $1,219

Max offer price $165,000

Occupancy floor 91%

Sensitivity live

Price	-10% $141	-5% $94	+0% $48	+5% $1	+10% $-244
Rent	-10% $-53	-5% $-3	+0% $48	+5% $98	+10% $149
Rate	-1.0pp $131	-0.5pp $90	base $48	+0.5pp $5	+1.0pp $-39

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1504 Faye St SW Decatur, AL	3.0	2.0	1200	$1,450	$1.21	45d	1	0.42mi
609 7th Ave SW Decatur, AL	4.0	2.0	1380	$1,425	$1.03	45d	1	0.94mi
1518 15th Ave SW Decatur, AL	3.0	2.0	1440	$1,600	$1.11	45d	1	1.07mi
220 8th Ave NW Decatur, AL	3.0	1.0	973	$1,125	$1.16	45d	1	1.13mi
315 Hillside Rd SW Decatur, AL	3.0	1.5	1344	$1,400	$1.04	45d	1	1.23mi
225 5th Ave NW Decatur, AL	3.0	2.0	1496	$1,300	$0.87	45d	1	1.29mi
1806 Runnymead Ave SW Decatur, AL	2.0	2.0	900	$999	$1.11	15d	2	1.36mi
2131 Westmead Dr SW Decatur, AL	2.0	1.5	1100	$1,100	$1.00	45d	1	1.37mi
227 8th St SW Unit 19 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.41mi
1208 2nd Ave SW Unit 1208 28 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.42mi
2402 Gaslight Pl SW Decatur, AL	2.0	1.5	1250	$1,025	$0.82	23d	1	1.42mi
2151 Westmead Dr SW Decatur, AL	2.0	2.5	1300	$1,445	$1.11	45d	1	1.43mi
2151 Westmead Dr SW Unit na Decatur, AL	2.0	1.5	1300	$1,445	$1.11	46d	1	1.43mi
1220 2nd Ave SW Unit 2nd 7 Decatur, AL	2.0	1.0	850	$825	$0.97	45d	1	1.44mi

Listing history 22 events

1. 2026-06-08
   days on market $165,000 Active 80 DOM
2. 2026-06-07
   days on market $165,000 Active 79 DOM
3. 2026-06-05
   days on market $165,000 Active 76 DOM
4. 2026-06-03
   days on market $165,000 Active 75 DOM
5. 2026-06-02
   days on market $165,000 Active 74 DOM
6. 2026-06-01
   days on market $165,000 Active 73 DOM
7. 2026-05-31
   days on market $165,000 Active 72 DOM
8. 2026-05-30
   days on market $165,000 Active 71 DOM
9. 2026-05-15
   price $1,350
10. 2026-04-30
    price $1,375
11. 2026-04-23
    listed $1,500
12. 2026-03-20
    listed $165,000 Active 508-char remark

    Show marketing remark (508 chars)

    Welcome to this beautifully updated home in Decatur, AL! Featuring new flooring, fresh paint, and updated cabinets, this home is move-in ready. The kitchen includes a new refrigerator, stove, and dishwasher, plus space for a stackable washer and dryer. Enjoy abundant natural light from numerous windows and added comfort with ceiling fans throughout. The bathroom has been refreshed with new fixtures for a modern touch. A great opportunity for homeowners or investors alike—don’t miss this one!

13. 2022-06-28
    soldstatus $120,000
14. 2022-06-22
    soldstatus $120,000 Sold 305-char remark

    Show marketing remark (305 chars)

    3 Bed 1 Bath 1,058 SqFt Ranch Conveniently Located just off the Beltline & Moulton St in a Quiet Neighborhood! Recently Remodeled in 2019 - This Property features Fresh Paint & Newer LVP Flooring throughout, Updated Bath, New Kitchen Cabinets, PVC Plumbing & Tile Floors in Kitchen & Bath.

15. 2022-06-18
    status Pending 305-char remark

    Show marketing remark (305 chars)

    3 Bed 1 Bath 1,058 SqFt Ranch Conveniently Located just off the Beltline & Moulton St in a Quiet Neighborhood! Recently Remodeled in 2019 - This Property features Fresh Paint & Newer LVP Flooring throughout, Updated Bath, New Kitchen Cabinets, PVC Plumbing & Tile Floors in Kitchen & Bath.

16. 2022-06-14
    listed $120,000 Active 305-char remark

    Show marketing remark (305 chars)

    3 Bed 1 Bath 1,058 SqFt Ranch Conveniently Located just off the Beltline & Moulton St in a Quiet Neighborhood! Recently Remodeled in 2019 - This Property features Fresh Paint & Newer LVP Flooring throughout, Updated Bath, New Kitchen Cabinets, PVC Plumbing & Tile Floors in Kitchen & Bath.

17. 2022-05-17
    soldstatus $91,000
18. 2019-12-30
    soldstatus $73,000
19. 2019-12-05
    soldstatus $73,000 Sold
20. 2019-11-01
    status Pending
21. 2019-10-28
    listed $79,900 Active
22. 2004-02-23
    soldstatus $25,500

ⓘ 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: $348 · $29/mo
• Projected year-2 tax: $677 · $56/mo
• Expected delta: +$329/yr (+$27/mo · 94.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $15,352
• − Mortgage interest: −$9,243
• − Property taxes: −$348
• − Insurance: −$825
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$4,800
• Taxable loss: −$2,320
• Est. tax savings @ 24.0%: +$557
• After-tax cash flow: $1,129/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

-94.7% since first listed

14 events — show timeline

• 2026-05-15 Price Changed $1,350 VMLS
• 2026-04-30 Price Changed $1,375 VMLS
• 2026-04-23 Listed for Rent $1,500 VMLS
• 2026-03-20 Listed $165,000 VMLS
• 2022-06-28 Sold (Public Records) $120,000 Public Records
• 2022-06-22 Sold (MLS) $120,000 VMLS
• 2022-06-18 Pending — VMLS
• 2022-06-14 Listed $120,000 VMLS
• 2022-05-17 Sold (Public Records) $91,000 Public Records
• 2019-12-30 Sold (Public Records) $73,000 Public Records
• 2019-12-05 Sold (MLS) $73,000 VMLS
• 2019-11-01 Pending — VMLS
• 2019-10-28 Listed $79,900 VMLS
• 2004-02-23 Sold (Public Records) $25,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $348 · +0.0% YoY. Source: county tax records.