301 Gables Dr #301 · Hoover, AL 35244

$130,000

1 bd · 1.5 ba · 908 sqft · Condo · 3 Days on market

Built 1984

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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 +11.7/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• DSCR +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Turnkey and move-in ready in the heart of Hoover! This cozy 1 bed / 1.5 bath condo checks every box for the buyer who wants low-maintenance living without sacrificing location. Tucked inside the desirable Gables community, you are minutes from I-459 and I-65, making your commute, errands, and weekend dining effortless. Inside, you will find a smart, functional layout with great natural light, a washer and dryer that stay, and smart home features. Whether you are a first-time buyer, downsizing, or looking for a lock-and-leave lifestyle, this one delivers. Seller is motivated and ready to move quickly. Come see it before it is gone!

Key facts

• Move-in ready
• Great natural light
• Turnkey

Tags

• TURNKEY
• MOVE-IN READY
• LOW-MAINTENANCE LIVING
• GREAT NATURAL LIGHT
• WASHER AND DRYER STAY
• SMART HOME FEATURES

Property features AI

Finance

• Other: Property accessed via paved public road
• HOA & community: Monthly condo fee of $295; HOA fees include garbage collection, common grounds maintenance, building insurance, management fee, sewage service, utilities for common areas, and water; Garbage fee included

Exterior

• Parking: Unassigned parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available; Ceiling fans; Storm door
• Home design: Condo unit (Unit 301); Single-story unit (all rooms on main level); Existing construction; Siding with Hardiplank exterior; Slab foundation; Not waterfront; Not in flood plain
• Construction: Hardiplank siding; Slab foundation
• Exterior features: Covered patio; Porch; Community in-ground pool; Sidewalks; Clubhouse

Interior

• Kitchen: Butcher block countertops; Breakfast bar; Electric cooktop; Built-in dishwasher; Built-in microwave; Electric oven
• Bedrooms: One bedroom on the main level with walk-in closet(s)
• Flooring: Concrete floors; Tile flooring
• Bathrooms: One full bathroom (main level) with separate shower; One half bathroom (main level)
• Heating & cooling: Central heating (electric); Central cooling (electric)
• Interior features: Smooth ceilings; Brick wood-burning fireplace in the living room; All window treatments remain; No additional interior features listed
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-37 ($-447/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (13.6% below list).
• Recommended offer: $112k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 2.4% in Hoover — 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 84/100 on livability (#1 in AL, #630 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Hoover City (urban): math 45% / reading 66% proficiency, ranked #8 of 129 in AL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Riverchase Elementary School (math 57% / reading 71%, grade B, #44 of 627 statewide, top 7%, 603 students, 34% FRL); Berry Middle School (math 32% / reading 70%, grade C, #24 of 257 statewide, top 9%, 1,113 students, 34% FRL); Spain Park High School (math 51% / reading 54%, grade C-, #10 of 305 statewide, top 3%, 1,503 students, 28% FRL).
• Market conditions: Rents soft (-0.5%/yr); 447 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).
• This rent is only 12% of the median local income ($113k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 44% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,294 (13.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 9.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.8%
• Equity multiple: 0.27×
• Total profit: $-26,698
• Equity at exit: $19,383

10-year hold

• IRR: -25.6%
• Equity multiple: -0.07×
• Total profit: $-38,890
• Equity at exit: $11,240

Cash invested: $36,400 (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 35244

• Home prices YoY: -33.7%
• Rents YoY: -0.5%
• Active inventory: 447
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA est. from 3 same-building comps: −$26
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $-37

Break-even live

Break-even rent $1,170

Max offer price $124,606

Occupancy floor 98%

Sensitivity live

Price	-10% $53	-5% $8	+0% $-37	+5% $-82	+10% $-127
Rent	-10% $-126	-5% $-82	+0% $-37	+5% $7	+10% $51
Rate	-1.0pp $28	-0.5pp $-4	base $-37	+0.5pp $-71	+1.0pp $-105

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Riverchase Trl Hoover, AL	1.0–2.0	1.0–2.0	945	$1,163	$1.23	3d	23	0.30mi
700 Garden Woods Dr Hoover, AL	1.0–3.0	1.0–2.0	1057	$1,230	$1.16	3d	22	0.30mi
200 River Haven Ln Hoover, AL	1.0–3.0	1.5–2.5	1485	$1,137	$0.77	3d	32	1.13mi
3 Indianwood Dr Pelham, AL	2.0	1.0	986	$1,125	$1.14	45d	1	1.16mi
4 Indianwood Dr Pelham, AL	2.0	1.0	986	$1,010	$1.02	23d	1	1.16mi
11 Indianwood Dr Pelham, AL	2.0	1.0	986	$975	$0.99	5d	1	1.18mi
31 Indianwood Dr Pelham, AL	2.0	1.0	986	$975	$0.99	5d	1	1.22mi
5775 Summer Pl Pkwy Hoover, AL	1.0–3.0	1.0–2.0	1133	$1,075	$0.95	3d	18	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-22
   days on market $130,000 Active 3 DOM
2. 2026-06-18
   remarks 638-char remark
3. 2026-06-18
   listed $130,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 6 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 44% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,475
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − HOA: −$312
• − Depreciation: −$3,782
• Taxable loss: −$2,657
• Est. tax savings @ 24.0%: +$638
• After-tax cash flow: $190/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: Hoover City
• NCES district ID: 0100007
• Math proficiency: 45% ▼ -25.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $76,210
• Composite: 49.77/100
• National rank: #1960
• State rank: #8 of 129 in AL

Livability — Hoover

• Score: 84/100
• State rank: #1
• US rank: #630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoover, AL
• County: Shelby County · 188,970 people
• City population: 76,805
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 38,217
• Household income: $113,450
• Rent vs Own: 29.6% rent · 70.4% own
• Severe rent burden: 822.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 17% Hispanic / Latino 5% Asian 5% Two or more races 5%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 7% · Canada, China
• Languages at home: 90% English-only · Other Indo-European 4% Spanish 4% Other Asian/Pacific 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.31%
• Current HPI: 195.0557
• Rent YoY: ▼ -0.45%
• Metro: Birmingham-Hoover, 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

1 event — show timeline

• 2026-06-18 Listed $130,000 Greater Alabama MLS