994 Owens St · Alexander City, AL 35010

$65,000

3 bd · 1.5 ba · 1,544 sqft · SingleFamily public records · 86 Days on market

Built 1940 0.40 ac lot ↓ 13% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Family home place has had many memories made here. This one needs some TLC but would make a great starter home or rental investment. Being sold AS IS.

Key facts

• 0.4 acre lot
• Built 1940
• Listed 85 days

Property features AI

Exterior

• Parking: Carport
• Utilities: Septic tank sewer
• Home design: Single-family residential property
• Construction: Wood siding; Metal roof
• Exterior features: On waterfront

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Window air conditioning units; Space heater for heating
• Interior features: Carpet and laminate flooring; Nine total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $585 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 0.6% in Alexander City — 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 55/100 on livability (#426 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime F, amenities F.
• Alexander City (town): math 18% / reading 39% proficiency, ranked #77 of 129 in AL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 205 active listings in the ZIP; 218 units permitted in Tallapoosa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Tallapoosa County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.88% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.59%
• DSCR: 2.72
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $254,760
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1140 Elk Dr	0.60mi	4/3.0 (+1)	1,420 (-8%)	5mo	$102,900	$72	43
1233 Elk Dr	0.65mi	3/2.0	1,338 (-13%)	9mo	$221,000	$165	38

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: 34.7%
• Equity multiple: 2.47×
• Total profit: $26,723
• Equity at exit: $9,692

10-year hold

• IRR: 41.5%
• Equity multiple: 4.91×
• Total profit: $71,177
• Equity at exit: $5,620

Cash invested: $18,200 (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 35010

• Home prices YoY: -22.3%
• Active inventory: 205
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,223 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$13 /mo · $156/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $585

Break-even live

Break-even rent $482

Max offer price $65,000

Occupancy floor 47%

Sensitivity live

Price	-10% $622	-5% $604	+0% $585	+5% $567	+10% $549
Rent	-10% $489	-5% $537	+0% $585	+5% $634	+10% $682
Rate	-1.0pp $618	-0.5pp $602	base $585	+0.5pp $568	+1.0pp $551

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $65,000 Active 86 DOM
2. 2026-06-18
   days on market $65,000 Active 85 DOM
3. 2026-06-17
   days on market $65,000 Active 84 DOM
4. 2026-06-16
   days on market $65,000 Active 83 DOM
5. 2026-06-15
   days on market $65,000 Active 82 DOM
6. 2026-06-14
   days on market $65,000 Active 80 DOM
7. 2026-06-12
   days on market $65,000 Active 79 DOM
8. 2026-06-09
   days on market $65,000 Active 76 DOM
9. 2026-06-08
   days on market $65,000 Active 75 DOM
10. 2026-06-07
    days on market $65,000 Active 74 DOM
11. 2026-06-07
    days on market $65,000 Active 73 DOM
12. 2026-06-04
    days on market $65,000 Active 70 DOM
13. 2026-06-02
    days on market $65,000 Active 69 DOM
14. 2026-06-01
    days on market $65,000 Active 68 DOM
15. 2026-05-31
    days on market $65,000 Active 67 DOM
16. 2026-05-31
    days on market $65,000 Active 66 DOM
17. 2026-05-22
    price $65,000
18. 2026-03-24
    listed $75,000 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: $156 · $13/mo
• Projected year-2 tax: $266 · $22/mo
• Expected delta: +$110/yr (+$9/mo · 70.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,677
• − Mortgage interest: −$3,641
• − Property taxes: −$156
• − Insurance: −$325
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$1,891
• Taxable income: $6,316
• Est. tax owed @ 24.0%: −$1,516
• After-tax cash flow: $5,508/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: Alexander City
• NCES district ID: 0100030
• Math proficiency: 18% ▼ -25.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $35,482
• Composite: 23.49/100
• National rank: #7871
• State rank: #77 of 129 in AL

Livability — Alexander City

• Score: 55/100
• State rank: #426
• US rank: #23127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexander City, AL
• City population: 19,619
• Population (ZIP): 19,619

Population outlook (Tallapoosa County) Hauer SSP2

• Today (2025): 38,909 people
• By 2030: 37,413 · -3.8%
• By 2040: 33,935 · -12.8%
• By 2050: 30,467 · -21.7%
• By 2075: 22,716 · -41.6%
• By 2100: 15,167 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 29% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Korean 1% German/W. Germanic 1%

Political lean MEDSL · Tallapoosa

• 2024 margin: Solid R (+49.6) · D 24.9% · R 74.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -36.5pp · 2024: -49.6pp
• All cycles: 2024: R+49.6 2020: R+43.4 2016: R+41.6 2012: R+32.4 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.88%
• Current HPI: 170.2791
• 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

-13.3% since first listed

2 events — show timeline

• 2026-05-22 Price Changed $65,000 LMMLS
• 2026-03-24 Listed $75,000 LMMLS