3 Martin Cir · Foley, AL 36535

$235,000

3 bd · 2.0 ba · 2,081 sqft · SingleFamily public records · 13 Days on market

Built 2006 10,715 sqft lot $113/sqft · 20% below area Est $292k · 20% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• 1% rule +3.3/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity! Property has Chinese drywall and will require remediation. Home is being sold as-is and is priced accordingly for buyers ready to take on a full renovation project. Located on a cul-de-sac in a great central Foley location with no HOA, 3 Martin Circle is less than 2 miles from downtown Foley, OWA, and Tanger Outlets, with a short drive to the beautiful white sand beaches of the Gulf Coast. This location offers convenient access to shopping, dining, and entertainment while still providing a quiet neighborhood setting. This brick home with a pool features a Fortified roof and offers 4 bedrooms, 2 bathrooms, and 2,081 square feet with a split floor plan and tile flooring

Key facts

• Fortified roof
• Cul-de-sac
• No hoa

Tags

• CUL-DE-SAC
• NO HOA
• CONVENIENT ACCESS TO SHOPPING
• DINING AND ENTERTAINMENT
• QUIET NEIGHBORHOOD SETTING
• FORTIFIED ROOF

Property features AI

Finance

• HOA & community: No transfer fees; No community amenities

Exterior

• Parking: Attached double garage with automatic garage door (2 covered spaces)
• Utilities: Public water; Public sewer; Served by Riviera Utilities
• Home design: One-story home; Resale property; Slab foundation
• Construction: Brick and wood-frame construction; Composition roof with fortified roof features; Built on a slab foundation
• Exterior features: Fenced yard; In-ground pool with screen enclosure; Storage structure on the property; Located in a cul-de-sac; Lot smaller than one acre

Interior

• Kitchen: Kitchen with breakfast area (approx. 12 x 12); Breakfast bar; Disposal; Other appliances included
• Bedrooms: Primary suite on the main level with walk-in closet; Bedroom 2: approximately 13 x 11; Bedroom 3: approximately 13 x 11; Bedroom 4: approximately 13 x 11; Primary bedroom approx. 20 x 12
• Flooring: Tile flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Breakfast bar; Ceiling fans; En-suite bathroom; Vaulted ceilings; No fireplace; Soaking tub and separate shower in primary bath; Single vanity in primary bath; Breakfast area off the kitchen; Living room and separate dining room
• Laundry & utility: Main level laundry located inside (utility approx. 11 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/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 $194k (17.5% below list).
• Recommended offer: $194k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Foley — 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 61/100 on livability (#241 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: employment D+, amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Foley Middle School (math 11% / reading 36%, grade F, #172 of 257 statewide, top 68%, 783 students, 82% FRL); Foley High School (math 24% / reading 25%, grade F, #118 of 305 statewide, top 45%, 1,578 students, 75% FRL) — zoned schools average 79% FRL vs 38% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 45% district-wide (-21 pts) — the specific schools serving this property underperform the Baldwin County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 875 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); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 35% of the median local income ($67k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,955 (17.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 0.83% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 10.1

CMA / ARV

• ARV (median comp): $292,114
• List price: $235,000
• Delta: -19.55%
• 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
3 Martin Cir	0.00mi	4/2.0 (+1)	2,081 (0%)	1mo	$223,000	$107	94
631 Mayflower Dr	0.33mi	4/2.0 (+1)	2,200 (+6%)	3mo	$348,168	$158	67
639 Mayflower Dr	0.35mi	4/3.0 (+1)	2,200 (+6%)	1mo	$353,674	$161	65
1712 Arcadia Dr	0.43mi	4/2.0 (+1)	1,934 (-7%)	3mo	$290,000	$150	61
628 Mayflower Dr	0.33mi	4/2.0 (+1)	1,820 (-12%)	1mo	$325,600	$179	58
640 Mayflower Dr	0.35mi	4/2.0 (+1)	1,820 (-12%)	1mo	$324,100	$178	57
1420 Plymouth Dr	0.31mi	4/2.0 (+1)	1,820 (-12%)	3mo	$312,000	$171	57
643 Mayflower Dr	0.36mi	4/2.0 (+1)	1,820 (-12%)	4mo	$325,562	$179	54
651 Mayflower Dr	0.38mi	4/2.0 (+1)	1,820 (-12%)	4mo	$320,000	$176	54
635 Mayflower Dr	0.34mi	4/2.0 (+1)	1,820 (-12%)	6mo	$317,562	$174	54
633 Harahan Ln	0.45mi	4/2.5 (+1)	2,324 (+12%)	0mo	$411,000	$177	52
1338 Plymouth Dr	0.63mi	4/2.0 (+1)	1,861 (-11%)	0mo	$290,000	$156	48

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-32,776
• Equity at exit: $35,039

10-year hold

• IRR: -7.1%
• Equity multiple: 0.57×
• Total profit: $-28,233
• Equity at exit: $20,319

Cash invested: $65,800 (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 36535

• Home prices YoY: -24.9%
• Rents YoY: 1.8%
• Active inventory: 875
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$81 /mo · $973/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $121

Break-even live

Break-even rent $1,787

Max offer price $235,000

Occupancy floor 89%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1768 Arcadia Dr Foley, AL	3.0	2.0	1637	$1,800	$1.10	21d	1	0.44mi
502 Meadow Ln Foley, AL	3.0	2.0	1438	$1,695	$1.18	44d	1	0.68mi
1349 Aldon St Foley, AL	3.0	2.0	1561	$1,900	$1.22	44d	1	1.27mi
904 Shagbark Rd Foley, AL	3.0–4.0	2.0	1671	$1,799	$1.08	13d	1	1.30mi
2700 Hampton Park Cir Foley, AL	3.0	2.0	1590	$2,000	$1.26	44d	1	1.32mi

Listing history 4 events

1. 2026-05-12
   status Pending 1499-char remark
2. 2026-04-29
   listed $235,000 Active 1499-char remark
3. 2005-08-22
   soldstatus $648,000
4. 2005-01-06
   soldstatus $216,000

ⓘ 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: $973 · $81/mo
• Projected year-2 tax: $973 · $81/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,275
• − Mortgage interest: −$13,164
• − Property taxes: −$973
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$6,836
• Taxable loss: −$2,597
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $2,074/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Foley

• Score: 61/100
• State rank: #241
• US rank: #17616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Foley, AL
• County: Baldwin County · 181,514 people
• City population: 40,628
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 40,628
• Household income: $66,714
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 803.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.82%
• Current HPI: 262.2796
• Rent YoY: ▲ 1.81%
• Metro: Daphne-Fairhope-Foley, 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

+3.2% since first listed

6 events — show timeline

• 2026-06-01 Sold (Public Records) $223,000 Public Records
• 2026-05-29 Sold (MLS) $223,000 BCAR
• 2026-05-12 Pending — BCAR
• 2026-04-29 Listed $235,000 BCAR
• 2005-08-22 Sold (Public Records) $648,000 Public Records
• 2005-01-06 Sold (Public Records) $216,000 Public Records

Property tax history

+6.6%/yr

Latest (2025): $973 · +0.4% YoY. Source: county tax records.