308 Bobwhite Dr SW · Decatur, AL 35601

$169,000

3 bd · 1.0 ba · 1,462 sqft · SingleFamily public records · 215 Days on market

Built 1966 10,018 sqft lot $116/sqft · at area comps Est $201k · 16% under ↓ 10% since listing

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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).

• ARV discount +14.7/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• 1% rule +2.6/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great 3 bed/2 bath home!! No HOA!!! Home has a living room, dining room, rec room and a huge kitchen. The yard is nice and flat for that perfect game of football with the family after a holiday meal! There is a storage shed in the back yard.

Key facts

• Living room
• Rec room
• Storage shed

Tags

• LIVING ROOM
• DINING ROOM
• REC ROOM
• HUGE KITCHEN
• STORAGE SHED
• FLAT YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $22 ($265/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 $129k (23.9% below list).
• Recommended offer: $129k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: schools C-, employment D+, crime 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.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 93% 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 215 days — a 12% lower offer ($149k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,527 (23.9% below list)

Questions for the listing agent

1. It's been on market 215 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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: 0.76% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (median comp): $201,066
• List price: $169,000
• Delta: -15.95%
• 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
222 Clearview St SW	0.22mi	3/2.0	1,467 (+0%)	1mo	$195,000	$133	84
416 Everett Dr SW	0.37mi	3/2.0	1,440 (-2%)	4mo	$182,619	$127	73
316 Larkwood Dr SW	0.09mi	3/2.0	1,340 (-8%)	13mo	$168,000	$125	67
203 Robinson St SW	0.30mi	4/2.0 (+1)	1,512 (+3%)	8mo	$230,000	$152	64
305 Larkwood Dr SW	0.03mi	4/2.5 (+1)	1,564 (+7%)	16mo	$232,300	$149	62
2307 Clara Ave SW	0.58mi	3/2.0	1,430 (-2%)	6mo	$185,000	$129	60
988 Tracey Ln	0.74mi	2/2.0 (-1)	1,534 (+5%)	3mo	$244,000	$159	46
1910 Ewell St SW	0.54mi	3/2.0	1,631 (+12%)	8mo	$188,500	$116	45
992 Tracey Ln	0.72mi	2/2.0 (-1)	1,572 (+8%)	1mo	$237,000	$151	44
986 Tracey Ln	0.75mi	2/2.0 (-1)	1,490 (+2%)	11mo	$229,000	$154	44
512 Ewell St SW	0.67mi	3/1.5	1,341 (-8%)	12mo	$189,000	$141	43
905 Cedar St SW	0.72mi	2/1.0 (-1)	1,281 (-12%)	4mo	$145,000	$113	37

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-23,872
• Equity at exit: $25,198

10-year hold

• IRR: -3.0%
• Equity multiple: 0.79×
• Total profit: $-10,012
• Equity at exit: $14,612

Cash invested: $47,320 (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: 223
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$886
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $22

Break-even live

Break-even rent $1,257

Max offer price $169,000

Occupancy floor 93%

Sensitivity live

Price	-10% $118	-5% $70	+0% $22	+5% $-26	+10% $-74
Rent	-10% $-79	-5% $-29	+0% $22	+5% $73	+10% $124
Rate	-1.0pp $107	-0.5pp $65	base $22	+0.5pp $-22	+1.0pp $-66

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Larkwood Dr SW Decatur, AL	4.0	2.0	1630	$1,500	$0.92	44d	1	0.18mi
2115 Central Pkwy SW Decatur, AL	1.0–3.0	1.0	821	$950	$1.16	44d	1	0.23mi
201 Bluebird Ln SW Decatur, AL	2.0	1.0	950	$898	$0.94	44d	11	0.24mi
1602 Brookridge Dr SW Decatur, AL	1.0–2.0	1.0–2.0	797	$1,174	$1.47	44d	13	0.65mi
2500 Spring Ave SW Decatur, AL	1.0–2.0	1.0–2.0	825	$987	$1.20	44d	7	0.70mi
1805 8th Ave SW Decatur, AL	3.0	2.0	1725	$1,750	$1.01	44d	1	0.81mi
1707 Buena Vista Cir SE Decatur, AL	3.0	2.0	1756	$1,350	$0.77	44d	1	0.92mi
306 Courtney Dr SW Unit 21 Decatur, AL	2.0	2.0	975	$975	$1.00	44d	1	0.99mi
305 Courtney Dr SW Decatur, AL	1.0–3.0	1.0–2.0	1200	$1,425	$1.19	44d	6	1.05mi
2019 Morgan Ave SW Decatur, AL	4.0	2.0	1064	$1,650	$1.55	44d	1	1.18mi
1242 Beltline Rd SW Decatur, AL	1.0–3.0	1.0–2.0	1118	$1,150	$1.03	44d	5	1.19mi
1321 Towerview St SW Decatur, AL	1.0–2.0	1.0	762	$964	$1.26	24d	3	1.20mi
1221 North St SE Decatur, AL	2.0	1.0	937	$775	$0.83	44d	2	1.26mi
1518 15th Ave SW Decatur, AL	3.0	2.0	1440	$1,600	$1.11	44d	1	1.40mi
315 Hillside Rd SW Decatur, AL	3.0	1.5	1344	$1,400	$1.04	44d	1	1.45mi

Listing history 19 events

1. 2026-06-19
   days on market $169,000 Active 215 DOM
2. 2026-06-18
   days on market $169,000 Active 214 DOM
3. 2026-06-17
   days on market $169,000 Active 213 DOM
4. 2026-06-16
   days on market $169,000 Active 212 DOM
5. 2026-06-15
   days on market $169,000 Active 211 DOM
6. 2026-06-14
   days on market $169,000 Active 209 DOM
7. 2026-06-13
   days on market $169,000 Active 208 DOM
8. 2026-06-10
   days on market $169,000 Active 206 DOM
9. 2026-06-09
   days on market $169,000 Active 205 DOM
10. 2026-06-08
    days on market $169,000 Active 204 DOM
11. 2026-06-07
    days on market $169,000 Active 203 DOM
12. 2026-06-05
    days on market $169,000 Active 200 DOM
13. 2026-06-03
    days on market $169,000 Active 199 DOM
14. 2026-06-02
    days on market $169,000 Active 198 DOM
15. 2026-06-01
    days on market $169,000 Active 197 DOM
16. 2026-05-31
    days on market $169,000 Active 196 DOM
17. 2026-05-30
    days on market $169,000 Active 195 DOM
18. 2026-01-10
    price $180,000 241-char remark

    Show marketing remark (241 chars)

    Great 3 bed/2 bath home!! No HOA!!! Home has a living room, dining room, rec room and a huge kitchen. The yard is nice and flat for that perfect game of football with the family after a holiday meal! There is a storage shed in the back yard.

19. 2025-11-16
    listed $200,000 Active 241-char remark

    Show marketing remark (241 chars)

    Great 3 bed/2 bath home!! No HOA!!! Home has a living room, dining room, rec room and a huge kitchen. The yard is nice and flat for that perfect game of football with the family after a holiday meal! There is a storage shed in the back yard.

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $693 · $58/mo
• Expected delta: +$253/yr (+$21/mo · 57.7%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $15,423
• − Mortgage interest: −$9,467
• − Property taxes: −$439
• − Insurance: −$845
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,916
• Taxable loss: −$2,712
• Est. tax savings @ 24.0%: +$651
• After-tax cash flow: $916/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

-10.0% since first listed

2 events — show timeline

• 2026-01-10 Price Changed $180,000 VMLS
• 2025-11-16 Listed $200,000 VMLS

Property tax history

+2.7%/yr

Latest (2025): $439 · +12.1% YoY. Source: county tax records.