2515 Veterans Mem Pkwy #402 · Tuscaloosa, AL 35404

$149,900

2 bd · 1.0 ba · 1,040 sqft · Condo public records · 6 Days on market

Built 1999 $195/mo HOA · 15% of rent

---

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 +12.3/30.0
• ARV discount +7.5/15.0
• Rent growth +4.2/5.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy the unbeatable convenience of this first-floor condo—just minutes from Target, Home Depot, and The University of Alabama! Whether you’re a student, investor, or first-time buyer—this location is hard to beat. Unit 402 offers a spacious floor plan with two bedrooms, two full bathrooms, walk in shower, a dining area, and a covered balcony with an additional storage room. HOA dues are just $170/month and include access to the pool, lawn care, hazard insurance, garbage service, roof reserve, entrance signage, and parking lot maintenance. Why rent when you can own?

Key facts

• Garbage disposal
• New water heater
• New lvp flooring

Tags

• NEW LVP FLOORING
• NEW WATER HEATER
• NEW BACKSPLASH
• GARBAGE DISPOSAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-27 ($-329/yr) — negative.
• To cash-flow at today's rent, offer at most $145k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (11.4% below list).
• Recommended offer: $133k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.4% in Tuscaloosa — 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 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa City (urban): math 19% / reading 40% proficiency, ranked #74 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Arcadia Elementary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 440 students, 52% FRL); Eastwood Middle School (math 3% / reading 31%, grade F, #201 of 257 statewide, top 79%, 758 students, 78% FRL); Paul W Bryant High School (math 3% / reading 7%, grade F, #276 of 305 statewide, top 95%, 1,042 students, 48% FRL) — zoned schools at 60% FRL track the district average.
• Zoned-school proficiency averages 14% at this address vs 30% district-wide (-16 pts) — the specific schools serving this property underperform the Tuscaloosa City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.8%/yr); 167 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• This rent runs 33% of the median local income ($49k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 55% 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 $132,881 (11.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.81% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.51×
• Total profit: $-20,700
• Equity at exit: $22,351

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $3,389
• Equity at exit: $12,961

Cash invested: $41,972 (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 35404

• Rents YoY: 6.8%
• Active inventory: 167
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$786
• Tax from tax record: −$34 /mo · $403/yr
• Insurance: −$62
• HOA: −$195
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-27

Break-even live

Break-even rent $1,363

Max offer price $145,063

Occupancy floor 97%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 Veterans Memorial Pkwy Tuscaloosa, AL	2.0	2.0	1078	$975	$0.90	13d	1	0.05mi
2501 Veterans Memorial Pkwy Tuscaloosa, AL	2.0	2.0	1018	$875	$0.86	44d	1	0.05mi
1515 Kicker Rd Tuscaloosa, AL	1.0–2.0	1.0–2.0	1050	$1,025	$0.98	44d	1	0.43mi
1010 23rd Ave E Tuscaloosa, AL	3.0	2.0	1251	$1,500	$1.20	44d	1	0.52mi
1722 13th St E Tuscaloosa, AL	3.0	1.0	1200	$1,100	$0.92	44d	1	0.59mi
123 Circlewood Tuscaloosa, AL	2.0	1.0	1250	$1,150	$0.92	44d	1	0.59mi
3218 Veterans Memorial Pkwy Tuscaloosa, AL	3.0	3.0–3.5	1484	$1,950	$1.31	21d	1	0.61mi
922 23rd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	1092	$2,300	$2.11	13d	4	0.62mi
936 22nd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,000	$2.21	13d	4	0.62mi
933 21st Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,150	$2.37	44d	2	0.64mi
927 Kicker Rd Tuscaloosa, AL	3.0	3.0	1412	$3,075	$2.18	21d	2	0.69mi
30 Beverly Hts Tuscaloosa, AL	3.0	2.0	1100	$2,100	$1.91	13d	1	0.89mi
1800 Hargrove East Rd Tuscaloosa, AL	2.0	1.0	950	$875	$0.92	13d	1	0.91mi
2837 Valley Crest Rd Tuscaloosa, AL	2.0	1.0	1369	$550	$0.40	44d	1	0.96mi
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,400	$2.82	44d	5	1.02mi
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,200	$2.58	13d	7	1.02mi
931 Crescent Ridge Rd E Tuscaloosa, AL	2.0	1.5	850	$995	$1.17	44d	1	1.10mi
3550 Crescent Gardens Dr Tuscaloosa, AL	3.0	2.0	1116	$1,575	$1.41	44d	1	1.26mi
1901 5th Ave E Tuscaloosa, AL	3.0	3.0	1336	$2,300	$1.72	21d	1	1.46mi
632 23rd St E Tuscaloosa, AL	2.0	1.5	960	$1,058	$1.10	21d	2	1.46mi

HOA detail condo

• Monthly dues: $195 · $2,340/yr
• Likely covers: trashlandscapinginsurancepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-27
   status Pending
2. 2026-04-21
   listed $149,900 Active
3. 2025-06-06
   soldstatus $125,000
4. 2025-06-02
   soldstatus $125,000 Closed 590-char remark

   Show marketing remark (590 chars)

   Enjoy the unbeatable convenience of this first-floor condo—just minutes from Target, Home Depot, and The University of Alabama! Whether you’re a student, investor, or first-time buyer—this location is hard to beat. Unit 402 offers a spacious floor plan with two bedrooms, two full bathrooms, walk in shower, a dining area, and a covered balcony with an additional storage room. HOA dues are just $170/month and include access to the pool, lawn care, hazard insurance, garbage service, roof reserve, entrance signage, and parking lot maintenance. Why rent when you can own?

5. 2025-05-15
   status Pending 590-char remark

   Show marketing remark (590 chars)

   Enjoy the unbeatable convenience of this first-floor condo—just minutes from Target, Home Depot, and The University of Alabama! Whether you’re a student, investor, or first-time buyer—this location is hard to beat. Unit 402 offers a spacious floor plan with two bedrooms, two full bathrooms, walk in shower, a dining area, and a covered balcony with an additional storage room. HOA dues are just $170/month and include access to the pool, lawn care, hazard insurance, garbage service, roof reserve, entrance signage, and parking lot maintenance. Why rent when you can own?

6. 2025-05-07
   listed $135,000 Active 590-char remark

   Show marketing remark (590 chars)

   Enjoy the unbeatable convenience of this first-floor condo—just minutes from Target, Home Depot, and The University of Alabama! Whether you’re a student, investor, or first-time buyer—this location is hard to beat. Unit 402 offers a spacious floor plan with two bedrooms, two full bathrooms, walk in shower, a dining area, and a covered balcony with an additional storage room. HOA dues are just $170/month and include access to the pool, lawn care, hazard insurance, garbage service, roof reserve, entrance signage, and parking lot maintenance. Why rent when you can own?

7. 2020-05-22
   soldstatus $75,000
8. 2019-04-18
   soldstatus $79,900
9. 2019-04-15
   soldstatus $79,900 588-char remark

   Show marketing remark (588 chars)

   Available for August occupancy! Priced for a quick sale, this condo offers a large floor plan and a convenient location! Condo #402 is located on the first floor and features two bedrooms, two baths, a dining area and a covered balcony with a storage room. Beautiful hardwood floors run through the dining and living room. HOA fees of $140 a month cover the pool, yard care, hazard insurance, reserve roof, entrance sign and parking lot. Enjoy living close to major retailers like Target and home depot, and less than ten minutes from the University of Alabama! Why rent when you can buy?

10. 2018-05-18
    listed $79,900 588-char remark

    Show marketing remark (588 chars)

    Available for August occupancy! Priced for a quick sale, this condo offers a large floor plan and a convenient location! Condo #402 is located on the first floor and features two bedrooms, two baths, a dining area and a covered balcony with a storage room. Beautiful hardwood floors run through the dining and living room. HOA fees of $140 a month cover the pool, yard care, hazard insurance, reserve roof, entrance sign and parking lot. Enjoy living close to major retailers like Target and home depot, and less than ten minutes from the University of Alabama! Why rent when you can buy?

ⓘ 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: $403 · $34/mo
• Projected year-2 tax: $615 · $51/mo
• Expected delta: +$211/yr (+$18/mo · 52.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,946
• − Mortgage interest: −$8,397
• − Property taxes: −$403
• − Insurance: −$750
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − HOA: −$2,340
• − Depreciation: −$4,361
• Taxable loss: −$2,856
• Est. tax savings @ 24.0%: +$685
• After-tax cash flow: $357/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: Tuscaloosa City
• NCES district ID: 0103360
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $37,474
• Composite: 24.51/100
• National rank: #7647
• State rank: #74 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscaloosa, AL
• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 22,445
• Household income: $48,932
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1531.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 46% White 44% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.00%
• Current HPI: 170.026
• Rent YoY: ▲ 6.81%
• Metro: Tuscaloosa, 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

+87.6% since first listed

10 events — show timeline

• 2026-04-27 Pending — WAMLS
• 2026-04-21 Listed $149,900 WAMLS
• 2025-06-06 Sold (Public Records) $125,000 Public Records
• 2025-06-02 Sold (MLS) $125,000 WAMLS
• 2025-05-15 Pending — WAMLS
• 2025-05-07 Listed $135,000 WAMLS
• 2020-05-22 Sold (Public Records) $75,000 Public Records
• 2019-04-18 Sold (Public Records) $79,900 Public Records
• 2019-04-15 Sold (MLS) $79,900 WAMLS
• 2018-05-18 Listed $79,900 WAMLS

Property tax history

-9.3%/yr

Latest (2025): $403 · +7.7% YoY. Source: county tax records.