614 Padenreich Ave · Gadsden, AL 35903

$155,000

3 bd · 1.0 ba · 1,195 sqft · SingleFamily public records · 104 Days on market

Built 1955 $130/sqft · 69% above area

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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 +21.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated 3-bedroom, 2-bath home located in Gadsden, just minutes from Gadsden State Community College. Whether you're looking for a primary residence, downsizing, or investing, this home offers comfort, convenience, and modern updates throughout. Step inside to find a thoughtfully renovated interior featuring updated flooring, fresh paint, and stylish finishes that create a bright, welcoming atmosphere. The spacious living area flows seamlessly into the kitchen and dining space, making it perfect for both everyday living and entertaining. Outside, you’ll love the fully fenced backyard — ideal for pets, kids, gardening, or relaxing evenings outdoors. With its convenient location near schools, shopping, dining, and major roadways, this home combines modern upgrades with everyday practicality. Don’t miss your chance to own this move-in-ready gem in a prime Gadsden location. Schedule your showing today!

Key facts

• Built 1955
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/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 $144k (6.9% below list).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 5.0% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Donehoo Elementary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 260 students, 80% FRL); Litchfield Middle School (math 5% / reading 28%, grade F, #203 of 257 statewide, top 79%, 255 students, 91% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL) — zoned schools average 82% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 101 active listings in the ZIP; 119 units permitted in Etowah 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.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $25k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $103k; list at $155k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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: 0.93% ✗
• Cap rate: 8.12%
• Cash-on-cash: 6.54%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $91,591
• List price: $155,000
• Delta: 69.23%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1210 Paden Dr	0.34mi	3/1.0	1,156 (-3%)	2mo	$72,500	$63	77
1218 Kentucky Ave	0.38mi	3/1.5	1,199 (+0%)	5mo	$55,000	$46	76
430 Padenreich Ave	0.26mi	3/1.0	1,266 (+6%)	4mo	$119,000	$94	75
1423 Goss Ave	0.36mi	3/2.0	1,201 (+0%)	12mo	$70,000	$58	68
1621 Arrowhead Dr	0.37mi	3/1.0	1,189 (-0%)	23mo	$48,000	$40	63
1305 Tennessee Ave	0.46mi	2/1.0 (-1)	1,094 (-8%)	3mo	$89,900	$82	57
220 Oak Dr	0.16mi	2/1.5 (-1)	1,360 (+14%)	19mo	$82,000	$60	47
302 Riverside Dr	0.45mi	3/1.0	1,328 (+11%)	22mo	$116,300	$88	42
1303 Carolina Ave	0.42mi	2/1.0 (-1)	1,032 (-14%)	19mo	$20,000	$19	37
1315 Robinson Ave	0.68mi	2/1.0 (-1)	1,015 (-15%)	16mo	$60,000	$59	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-10,139
• Equity at exit: $23,111

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $10,232
• Equity at exit: $13,402

Cash invested: $43,400 (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 35903

• Home prices YoY: -11.0%
• Active inventory: 101
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$27 /mo · $320/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $236

Break-even live

Break-even rent $1,144

Max offer price $155,000

Occupancy floor 79%

Sensitivity live

Price	-10% $324	-5% $280	+0% $236	+5% $16	+10% $-38
Rent	-10% $122	-5% $179	+0% $236	+5% $293	+10% $350
Rate	-1.0pp $314	-0.5pp $276	base $236	+0.5pp $196	+1.0pp $155

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $155,000 Active 104 DOM
2. 2026-06-19
   days on market $155,000 Active 102 DOM
3. 2026-06-18
   days on market $155,000 Active 101 DOM
4. 2026-06-17
   days on market $155,000 Active 100 DOM
5. 2026-06-16
   days on market $155,000 Active 99 DOM
6. 2026-06-15
   days on market $155,000 Active 98 DOM
7. 2026-06-14
   days on market $155,000 Active 96 DOM
8. 2026-06-12
   days on market $155,000 Active 95 DOM
9. 2026-06-09
   days on market $155,000 Active 92 DOM
10. 2026-06-08
    days on market $155,000 Active 91 DOM
11. 2026-06-07
    days on market $155,000 Active 90 DOM
12. 2026-06-07
    days on market $155,000 Active 89 DOM
13. 2026-06-04
    days on market $155,000 Active 86 DOM
14. 2026-06-03
    price $155,000 Active 85 DOM
15. 2026-06-02
    days on market $164,500 Active 85 DOM
16. 2026-06-01
    days on market $164,500 Active 84 DOM
17. 2026-05-31
    days on market $164,500 Active 83 DOM
18. 2026-05-31
    days on market $164,500 Active 82 DOM
19. 2026-03-26
    price $169,900 957-char remark

    Show marketing remark (957 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath home located in Gadsden, just minutes from Gadsden State Community College. Whether you're looking for a primary residence, downsizing, or investing, this home offers comfort, convenience, and modern updates throughout. Step inside to find a thoughtfully renovated interior featuring updated flooring, fresh paint, and stylish finishes that create a bright, welcoming atmosphere. The spacious living area flows seamlessly into the kitchen and dining space, making it perfect for both everyday living and entertaining. Outside, you’ll love the fully fenced backyard — ideal for pets, kids, gardening, or relaxing evenings outdoors. With its convenient location near schools, shopping, dining, and major roadways, this home combines modern upgrades with everyday practicality. Don’t miss your chance to own this move-in-ready gem in a prime Gadsden location. Schedule your showing today!

20. 2026-03-09
    listed $179,900 Active 957-char remark

    Show marketing remark (957 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath home located in Gadsden, just minutes from Gadsden State Community College. Whether you're looking for a primary residence, downsizing, or investing, this home offers comfort, convenience, and modern updates throughout. Step inside to find a thoughtfully renovated interior featuring updated flooring, fresh paint, and stylish finishes that create a bright, welcoming atmosphere. The spacious living area flows seamlessly into the kitchen and dining space, making it perfect for both everyday living and entertaining. Outside, you’ll love the fully fenced backyard — ideal for pets, kids, gardening, or relaxing evenings outdoors. With its convenient location near schools, shopping, dining, and major roadways, this home combines modern upgrades with everyday practicality. Don’t miss your chance to own this move-in-ready gem in a prime Gadsden location. Schedule your showing today!

21. 2026-03-09
    price $179,900 957-char remark

    Show marketing remark (957 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath home located in Gadsden, just minutes from Gadsden State Community College. Whether you're looking for a primary residence, downsizing, or investing, this home offers comfort, convenience, and modern updates throughout. Step inside to find a thoughtfully renovated interior featuring updated flooring, fresh paint, and stylish finishes that create a bright, welcoming atmosphere. The spacious living area flows seamlessly into the kitchen and dining space, making it perfect for both everyday living and entertaining. Outside, you’ll love the fully fenced backyard — ideal for pets, kids, gardening, or relaxing evenings outdoors. With its convenient location near schools, shopping, dining, and major roadways, this home combines modern upgrades with everyday practicality. Don’t miss your chance to own this move-in-ready gem in a prime Gadsden location. Schedule your showing today!

22. 2026-03-02
    historical $189,000 957-char remark

    Show marketing remark (957 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bath home located in Gadsden, just minutes from Gadsden State Community College. Whether you're looking for a primary residence, downsizing, or investing, this home offers comfort, convenience, and modern updates throughout. Step inside to find a thoughtfully renovated interior featuring updated flooring, fresh paint, and stylish finishes that create a bright, welcoming atmosphere. The spacious living area flows seamlessly into the kitchen and dining space, making it perfect for both everyday living and entertaining. Outside, you’ll love the fully fenced backyard — ideal for pets, kids, gardening, or relaxing evenings outdoors. With its convenient location near schools, shopping, dining, and major roadways, this home combines modern upgrades with everyday practicality. Don’t miss your chance to own this move-in-ready gem in a prime Gadsden location. Schedule your showing today!

23. 2025-05-20
    soldstatus $103,000 Sold 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

24. 2025-05-17
    status Pending 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

25. 2025-02-08
    price $109,900 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

26. 2025-01-17
    price $114,900 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

27. 2025-01-02
    price $116,900 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

28. 2024-12-13
    listed $119,900 Active 351-char remark

    Show marketing remark (351 chars)

    GREAT LOCATION! Charming bungalow close to Gadsden State Community College has loads of natural light and storage. This 3 bedroom, 2 bath home includes a completely fenced front yard and back yard, new windows in living room, patio area, front porch, and workshop with electrical. Includes a spacious living room and kitchen and a newly serviced HVAC.

29. 2023-10-23
    soldstatus $95,000 Sold
30. 2023-10-01
    status Pending
31. 2023-09-13
    listed $99,900 Active

ⓘ 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: $320 · $27/mo
• Projected year-2 tax: $636 · $53/mo
• Expected delta: +$316/yr (+$26/mo · 98.9%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,324
• − Mortgage interest: −$8,682
• − Property taxes: −$320
• − Insurance: −$775
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$4,509
• Taxable income: $266
• Est. tax owed @ 24.0%: −$64
• After-tax cash flow: $2,773/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 17,180

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 31% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.07%
• Current HPI: 236.2537
• 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

+70.1% since first listed

13 events — show timeline

• 2026-03-26 Price Changed $169,900 Greater Alabama MLS
• 2026-03-09 Listed $179,900 Greater Alabama MLS
• 2026-03-09 Price Changed $179,900 Greater Alabama MLS
• 2026-03-02 Coming Soon $189,000 Greater Alabama MLS
• 2025-05-20 Sold (MLS) $103,000 VMLS
• 2025-05-17 Pending — VMLS
• 2025-02-08 Price Changed $109,900 VMLS
• 2025-01-17 Price Changed $114,900 VMLS
• 2025-01-02 Price Changed $116,900 VMLS
• 2024-12-13 Listed $119,900 VMLS
• 2023-10-23 Sold (MLS) $95,000 VMLS
• 2023-10-01 Pending — VMLS
• 2023-09-13 Listed $99,900 VMLS

Property tax history

+5.7%/yr

Latest (2024): $320 · -3.0% YoY. Source: county tax records.