502b N Short St · Florence, AL 35630

$135,000

2 bd · 1.5 ba · 1,178 sqft · SingleFamily · 75 Days on market

Built 1977 Good condition 0.95 ac lot $115/sqft · 5% below area Est $142k · 5% under

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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 +15.2/30.0
• ARV discount +9.8/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful remodeled townhouse , 2 spacious bedrooms and 1.5 luxury modern bathrooms . (No carpet!!!!) Beautiful new floors throughout . .Stainless steel new appliances , NEW ROOF , Privacy fence , etc . Lots of detail has been added to this home, its definitely a must see. . And in this price range it won't last long!!

Key facts

• 0.95 acre lot
• Built 1977
• Listed 74 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-20 ($-235/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (8.1% below list).
• Recommended offer: $124k (8.1% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Hills School (math 39% / reading 65%, grade C-, #102 of 627 statewide, top 17%, 831 students, 45% FRL); Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 270 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• This rent runs 32% of the median local income ($46k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $86k; list at $135k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,024 (8.1% 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. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.49%
• DSCR: 1.07
• GRM: 9.1

CMA / ARV

• ARV (median comp): $142,219
• List price: $135,000
• Delta: -5.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Normandy Dr	0.15mi	3/1.0 (+1)	1,125 (-4%)	1mo	$135,000	$120	78
221 N Fulton St	0.45mi	2/1.0	1,144 (-3%)	4mo	$149,900	$131	68
415 N Eclipse St	0.34mi	3/1.0 (+1)	1,124 (-5%)	7mo	$90,000	$80	64
205 N Orleans St	0.26mi	3/1.0 (+1)	1,044 (-11%)	5mo	$135,000	$129	58
33 S Crown St	0.52mi	3/2.0 (+1)	1,100 (-7%)	0mo	$215,000	$195	58
231 N Main St	0.70mi	3/2.0 (+1)	1,168 (-1%)	2mo	$169,000	$145	57
216 N Eclipse St	0.34mi	2/1.0	1,013 (-14%)	5mo	$125,000	$123	55
32 S Fulton St	0.54mi	3/2.0 (+1)	1,100 (-7%)	4mo	$219,900	$200	54
29 S Crown St	0.51mi	3/2.0 (+1)	1,260 (+7%)	8mo	$240,000	$190	51
214 S Kirkman St	0.72mi	3/2.0 (+1)	1,120 (-5%)	1mo	$124,900	$112	50
422 N Fulton St	0.54mi	3/2.0 (+1)	1,312 (+11%)	5mo	$238,000	$181	44
4110 Eastwood Dr	0.67mi	2/1.0	1,056 (-10%)	6mo	$115,000	$109	44

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.50×
• Total profit: $-18,972
• Equity at exit: $20,129

10-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $50
• Equity at exit: $11,672

Cash invested: $37,800 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 270
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-20

Break-even live

Break-even rent $1,265

Max offer price $132,160

Occupancy floor 97%

Sensitivity live

Price	-10% $74	-5% $27	+0% $-20	+5% $-66	+10% $-113
Rent	-10% $-118	-5% $-69	+0% $-20	+5% $29	+10% $78
Rate	-1.0pp $48	-0.5pp $15	base $-20	+0.5pp $-55	+1.0pp $-90

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
416 N Broadway St Florence, AL	3.0	2.0	1125	$1,450	$1.29	45d	1	0.07mi
200 Foxfield Pl Florence, AL	2.0	2.0	1250	$1,120	$0.90	45d	1	0.55mi
211 N Patton St Unit 1510 Florence, AL	2.0	1.0	850	$825	$0.97	45d	1	0.67mi
3504 Cole Ave Unit B Florence, AL	2.0	1.0	900	$750	$0.83	45d	1	0.72mi
1846 Darby Dr Florence, AL	2.0	2.5	1200	$1,125	$0.94	45d	5	0.84mi
1825 Darby Dr Apt G6 Florence, AL	1.0	1.0	895	$675	$0.75	45d	1	0.99mi
1975 Darby Dr Florence, AL	1.0–2.0	1.0–1.5	997	$815	$0.82	45d	2	1.04mi
2021 Cloyd Blvd Florence, AL	2.0	2.0	1100	$895	$0.81	45d	4	1.22mi
1610 Mockingbird Ct Florence, AL	2.0	2.0	1100	$895	$0.81	45d	6	1.37mi

Listing history 27 events

1. 2026-06-22
   days on market $135,000 Active 75 DOM
2. 2026-06-21
   days on market $135,000 Active 74 DOM
3. 2026-06-19
   days on market $135,000 Active 72 DOM
4. 2026-06-18
   days on market $135,000 Active 71 DOM
5. 2026-06-17
   days on market $135,000 Active 70 DOM
6. 2026-06-16
   days on market $135,000 Active 69 DOM
7. 2026-06-15
   days on market $135,000 Active 68 DOM
8. 2026-06-14
   days on market $135,000 Active 66 DOM
9. 2026-06-13
   days on market $135,000 Active 65 DOM
10. 2026-06-10
    days on market $135,000 Active 63 DOM
11. 2026-06-09
    days on market $135,000 Active 62 DOM
12. 2026-06-08
    days on market $135,000 Active 61 DOM
13. 2026-06-05
    days on market $135,000 Active 57 DOM
14. 2026-06-02
    days on market $135,000 Active 55 DOM
15. 2026-06-01
    days on market $135,000 Active 54 DOM
16. 2026-05-31
    days on market $135,000 Active 53 DOM
17. 2026-05-30
    days on market $135,000 Active 52 DOM
18. 2026-04-27
    price $144,000 321-char remark

    Show marketing remark (321 chars)

    Beautiful remodeled townhouse , 2 spacious bedrooms and 1.5 luxury modern bathrooms . (No carpet!!!!) Beautiful new floors throughout . .Stainless steel new appliances , NEW ROOF , Privacy fence , etc . Lots of detail has been added to this home, its definitely a must see. . And in this price range it won't last long!!

19. 2026-04-08
    listed $149,900 Active 321-char remark

    Show marketing remark (321 chars)

    Beautiful remodeled townhouse , 2 spacious bedrooms and 1.5 luxury modern bathrooms . (No carpet!!!!) Beautiful new floors throughout . .Stainless steel new appliances , NEW ROOF , Privacy fence , etc . Lots of detail has been added to this home, its definitely a must see. . And in this price range it won't last long!!

20. 2025-12-04
    soldstatus $86,500 Sold 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

21. 2025-10-17
    status Pending 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

22. 2025-10-13
    price $99,500 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

23. 2025-09-19
    price $99,900 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

24. 2025-09-07
    price $102,500 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

25. 2025-08-10
    listed $105,000 Active 174-char remark

    Show marketing remark (174 chars)

    Don't miss this townhome- Two bedroom and 1.5 bath is waiting for you. Conveniently located to shopping and dining and only four miles from UNA! Property is being sold AS IS.

26. 2016-11-04
    soldstatus $63,000
27. 2016-07-22
    listed $69,900

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,883
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$1,472
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$3,927
• Taxable loss: −$2,485
• Est. tax savings @ 24.0%: +$596
• After-tax cash flow: $361/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This remodeled townhouse is in excellent condition with new finishes throughout, making it move-in ready and ideal for both buyers and renters.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Reorganizing and decluttering interior spaces — Improves flow and makes the home more inviting for potential buyers/tenants.
• Both Adding smart home features — Enhances convenience and adds value for both buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Reorganizing and decluttering interior spaces — Improves flow and makes the home more inviting for potential buyers/tenants. ↑
• Both Adding smart home features — Enhances convenience and adds value for both buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+106.0% since first listed

10 events — show timeline

• 2026-04-27 Price Changed $144,000 SAARMLS
• 2026-04-08 Listed $149,900 SAARMLS
• 2025-12-04 Sold (MLS) $86,500 VMLS
• 2025-10-17 Pending — VMLS
• 2025-10-13 Price Changed $99,500 VMLS
• 2025-09-19 Price Changed $99,900 VMLS
• 2025-09-07 Price Changed $102,500 VMLS
• 2025-08-10 Listed $105,000 VMLS
• 2016-11-04 Sold (MLS) $63,000 SAARMLS
• 2016-07-22 Listed $69,900 SAARMLS