1008 Ridgeway St · Florence, AL 35630

$100,000

2 bd · 1.0 ba · 923 sqft · SingleFamily public records · 7 Days on market

Built 1948 0.26 ac lot Est $73k · 37% over

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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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +5.1/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Don’t miss this well-maintained 2-bedroom, 1-bath home in a prime Florence location just minutes from the University of North Alabama, downtown Florence, and the upcoming West Village development. Whether you’re looking to expand your rental portfolio, purchase a student rental, or find an affordable primary residence, this property offers exceptional potential. Inside, you’ll find a spacious living room featuring a fireplace, newer LVP flooring throughout the main living areas, and comfortable carpeted bedrooms. The bathroom boasts a fully tiled walk-in shower, while the eat-in kitchen offers ample dining space and is conveniently connected to the laundry room. Outside, e

Key facts

• Large back deck
• Ample dining space
• 0.26 acre lot

Tags

• PRIME FLORENCE LOCATION
• FULLY TILED WALK-IN SHOWER
• LARGE BACK DECK
• AMPLE DINING SPACE

Property features AI

Finance

• Financial info: Annual tax information available

Exterior

• Parking: Concrete driveway
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single-family residence; Residential property; Located in Ridgecrest subdivision
• Construction: Vinyl siding; Above-grade finished area 923; Crawl space foundation
• Exterior features: Deck

Interior

• Kitchen: Electric oven; Microwave; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; Window/wall air conditioning units
• Interior features: Eat-in kitchen; Fireplace (1)
• Laundry & utility: Dedicated laundry room; Crawl space

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 8.7% 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: Forest Hills School (math 39% / reading 65%, grade C-, #102 of 627 statewide, top 17%, 831 students, 45% 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).
• Market conditions: Rents rising fast (+6.2%/yr); 268 active listings in the ZIP; 5 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y 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 $54k; list at $100k implies a 85% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $100,000

Questions for the listing agent

1. Built in 1948 — 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. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.54%
• DSCR: 1.38
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $72,917
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 Ridgeway St	0.03mi	2/1.0	912 (-1%)	1mo	$125,000	$137	96
1138 Ridgeway St	0.12mi	2/1.0	936 (+1%)	5mo	$60,000	$64	88
215 Burgess St	0.25mi	2/1.0	1,022 (+11%)	2mo	$35,000	$34	69
307 Hillcrest Cir	0.27mi	3/1.0 (+1)	934 (+1%)	14mo	$73,333	$79	69
311 Hillcrest Cir	0.28mi	2/1.0	848 (-8%)	14mo	$73,333	$86	62
805 Irvine Ave	0.59mi	3/1.0 (+1)	897 (-3%)	8mo	$71,000	$79	56
524 Crest St	0.66mi	3/1.0 (+1)	951 (+3%)	9mo	$127,400	$134	52
315 Hillcrest Cir	0.27mi	2/1.0	784 (-15%)	14mo	$73,333	$94	51
954 Beale St	0.45mi	3/1.0 (+1)	864 (-6%)	18mo	$60,000	$69	48
406 N Cherokee St	0.61mi	1/1.0 (-1)	806 (-13%)	13mo	$36,500	$45	35

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-216
• Equity at exit: $14,910

10-year hold

• IRR: 12.2%
• Equity multiple: 2.09×
• Total profit: $30,624
• Equity at exit: $8,646

Cash invested: $28,000 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,012 high
• Mortgage (P&I): −$524
• Tax from tax record: −$34 /mo · $414/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $199

Break-even live

Break-even rent $760

Max offer price $100,000

Occupancy floor 75%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 W Tennessee St Unit "I" Florence, AL	1.0	1.0	615	$800	$1.30	43d	1	0.59mi
301 N Court St Unit 1 Florence, AL	2.0	1.5	1000	$850	$0.85	43d	1	0.91mi
418 N Poplar St Florence, AL	2.0	2.0	1000	$995	$0.99	43d	1	1.29mi
520 E Tuscaloosa St Unit 520-C Florence, AL	2.0	1.0	900	$995	$1.11	43d	1	1.31mi
801 E Mobile St Unit 2 Florence, AL	1.0	1.0	550	$775	$1.41	43d	1	1.48mi

Listing history 7 events

1. 2026-06-15
   status $100,000 Pending 7 DOM
2. 2026-06-15
   days on market $100,000 Active 7 DOM
3. 2026-06-14
   days on market $100,000 Active 5 DOM
4. 2026-06-13
   days on market $100,000 Active 4 DOM
5. 2026-06-10
   days on market $100,000 Active 2 DOM
6. 2026-06-09
   remarks 681-char remark
7. 2026-06-09
   listed $100,000 Active 1 DOM

ⓘ 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: $414 · $34/mo
• Projected year-2 tax: $414 · $34/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°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: $12,148
• − Mortgage interest: −$5,602
• − Property taxes: −$414
• − Insurance: −$500
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$2,909
• Taxable income: $780
• Est. tax owed @ 24.0%: −$187
• After-tax cash flow: $2,203/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

+102.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $100,000 SAARMLS
• 2021-11-10 Sold (Public Records) $54,000 Public Records
• 2008-01-25 Listed $49,500 SAARMLS

Property tax history

-0.3%/yr

Latest (2025): $414 · +0.2% YoY. Source: county tax records.