11348 Hwy 67 · Baileyton, AL 35087

$259,900

3 bd · 2.0 ba · 1,069 sqft · SingleFamily public records · 26 Days on market

Built 1950 5.00 ac lot

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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 +9.1/30.0
• Appreciation +7.8/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.7/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.5/10.0

Listing remarks MLS

21 Acres with road frontage on Hwy 67 and Hog Jaw Road. Plenty of space to build a home and have a mini farm!

Key facts

• New plumbing
• Peaceful rural views
• New wiring

Tags

• FIVE BEAUTIFUL ACRES
• PEACEFUL RURAL VIEWS
• COMPLETELY UPDATED
• NEW WIRING
• NEW PLUMBING
• NEW HVAC

Property features AI

Finance

• Other: Located in the Metes and Bounds subdivision; Directions: 231 South, right on Apple Grove Rd, bear left on Hwy 67, house on left
• HOA & community: No homeowners association

Exterior

• Parking: Gravel driveway
• Utilities: Public water service; Septic sewer; Electric power (assumed)
• Home design: Single-family residence; One story; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: 5-acre lot; Public water; Septic tank

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Crawl space basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (35.2% below list).
• Recommended offer: $168k (35.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#262 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Morgan County (rural): math 19% / reading 43% proficiency, ranked #61 of 129 in AL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eva School (math 23% / reading 47%, grade F, #291 of 627 statewide, top 47%, 371 students, 64% FRL); Albert P Brewer High School (math 22% / reading 27%, grade F, #118 of 305 statewide, top 45%, 717 students, 59% FRL) — zoned schools average 62% FRL vs 44% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($2k loan paydown + $15k appreciation (5.7% local appreciation)).
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($256k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $140k; list at $260k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,452 (35.2% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.65% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• GRM: 12.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.78×
• Total profit: $57,087
• Equity at exit: $157,993

10-year hold

• IRR: 12.7%
• Equity multiple: 3.46×
• Total profit: $179,065
• Equity at exit: $281,972

Cash invested: $72,772 (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 35087

• Home prices YoY: 2.5%
• Active inventory: 9
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $1,685 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$60 /mo · $716/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $-200

Break-even live

Break-even rent $1,938

Max offer price $224,544

Occupancy floor —

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $259,900 Active 26 DOM
2. 2026-06-17
   days on market $259,900 Active 25 DOM
3. 2026-06-16
   days on market $259,900 Active 24 DOM
4. 2026-06-15
   days on market $259,900 Active 23 DOM
5. 2026-06-14
   days on market $259,900 Active 21 DOM
6. 2026-06-13
   days on market $259,900 Active 20 DOM
7. 2026-06-10
   days on market $259,900 Active 18 DOM
8. 2026-06-09
   days on market $259,900 Active 17 DOM
9. 2026-06-08
   days on market $259,900 Active 16 DOM
10. 2026-06-07
    days on market $259,900 Active 15 DOM
11. 2026-06-02
    days on market $259,900 Active 10 DOM
12. 2026-06-01
    days on market $259,900 Active 9 DOM
13. 2026-05-31
    days on market $259,900 Active 8 DOM
14. 2026-05-30
    days on market $259,900 Active 7 DOM
15. 2026-05-23
    listed $259,900 Active
16. 2025-12-08
    price $249,900
17. 2023-06-19
    soldstatus $140,000 Sold 110-char remark

    Show marketing remark (110 chars)

    21 Acres with road frontage on Hwy 67 and Hog Jaw Road. Plenty of space to build a home and have a mini farm!

18. 2023-02-06
    status Pending 110-char remark

    Show marketing remark (110 chars)

    21 Acres with road frontage on Hwy 67 and Hog Jaw Road. Plenty of space to build a home and have a mini farm!

19. 2022-11-30
    listed $165,000 Active 110-char remark

    Show marketing remark (110 chars)

    21 Acres with road frontage on Hwy 67 and Hog Jaw Road. Plenty of space to build a home and have a mini farm!

ⓘ 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: $716 · $60/mo
• Projected year-2 tax: $1,066 · $89/mo
• Expected delta: +$349/yr (+$29/mo · 48.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $20,214
• − Mortgage interest: −$14,558
• − Property taxes: −$716
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$7,561
• Taxable loss: −$7,155
• Est. tax savings @ 24.0%: +$1,717
• After-tax cash flow: $-685/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: Morgan County
• NCES district ID: 0102480
• Math proficiency: 19% ▼ -28.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $47,362
• Composite: 26.68/100
• National rank: #7157
• State rank: #61 of 129 in AL

Livability — Baileyton

• Score: 61/100
• State rank: #262
• US rank: #18175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,338

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: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 3% Lithuanian 1% Russian 1%
• Languages at home: 99% English-only · French/Haitian/Cajun 1%

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: ▲ 5.67%
• Current HPI: 229.1856
• 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

+57.5% since first listed

5 events — show timeline

• 2026-05-23 Listed $259,900 VMLS
• 2025-12-08 Price Changed $249,900 VMLS
• 2023-06-19 Sold (MLS) $140,000 VMLS
• 2023-02-06 Pending — VMLS
• 2022-11-30 Listed $165,000 VMLS

Property tax history

+21.1%/yr

Latest (2025): $716 · +0.0% YoY. Source: county tax records.