6505 23rd Ave · Valley, AL 36854

$84,900

3 bd · 1.5 ba · 1,422 sqft · SingleFamily public records · 52 Days on market

Built 1945 Fair condition 0.25 ac lot $60/sqft · 51% below area Est $156k · 46% under ↓ 34% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perched proudly on a hill in an established neighborhood, this 1945 vintage gem is sturdy, 100% livable, and the ultimate sweat-equity paradise! Perfect for a buyer looking for affordability while making updates, the home features gorgeous original heart pine floors running throughout and a 10-minute walk to the Chattahoochee River—an absolute dream for fishermen and nature lovers. While surrounding homes have been modernized, this one is ready for your personal touch. It has great bones but could benefit from vinyl siding, repair to a small bit of interior wood rot near the side door and a full bathroom tub surround that you'll want to work on sooner rather than later. Best of all, the AC blows ice cold; it’s a legendary 26-year-old Rheem unit that proves what real durability looks like, alongside a working (but older) water heater. If you have a toolbelt, a vision, and a love for the river life, come make this classic home your own! See the charm for yourself in the photos, along with the honey-do list of what you'll need to work on.

Key facts

• Ac blows ice cold
• Working water heater
• 0.25 acre lot

Tags

• ORIGINAL HEART PINE FLOORS
• FULL BATHROOM TUB SURROUND
• AC BLOWS ICE COLD
• WORKING WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $512 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 2.6% in Valley — 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 66/100 on livability (#96 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime F, amenities F, commute F.
• Chambers County (town): math 10% / reading 37% proficiency, ranked #101 of 129 in AL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lafayette Lanier Elementary School (math 8% / reading 45%); W F Burns Middle School (math 7% / reading 37%, grade F, #182 of 257 statewide, top 71%, 528 students, 62% FRL); Valley High School (math 12% / reading 17%, grade F, #220 of 305 statewide, top 77%, 642 students, 28% FRL) — zoned schools average 45% FRL vs 63% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 199 active listings in the ZIP; 43 units permitted in Chambers County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Chambers County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 64% 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 $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.50% ✓
• Cap rate: 13.53%
• Cash-on-cash: 25.86%
• DSCR: 2.15
• GRM: 5.5

CMA / ARV

• ARV (median comp): $156,067
• List price: $84,900
• Delta: -23.75%
• 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
142 Cleveland Rd	0.20mi	3/1.5	1,424 (+0%)	7mo	$150,000	$105	85
6504 22nd Ave	0.09mi	3/1.5	1,530 (+8%)	8mo	$160,000	$105	76
2106 65th St	0.09mi	2/1.0 (-1)	1,287 (-10%)	7mo	$69,000	$54	68
203 Hodge St	0.54mi	3/1.0	1,375 (-3%)	6mo	$169,000	$123	62
17 Laural Dr	0.57mi	3/2.0	1,379 (-3%)	11mo	$229,900	$167	57
25 Lee Road 2133	0.61mi	3/2.0	1,537 (+8%)	2mo	$284,990	$185	54
2305 61st St	0.49mi	3/2.0	1,319 (-7%)	12mo	$210,000	$159	54
33 Lee Road 2132	0.61mi	3/2.0	1,537 (+8%)	9mo	$279,900	$182	48
43 Lee Rd 2167	0.60mi	3/2.0	1,620 (+14%)	3mo	$289,900	$179	44
43 Lee Road 2167	0.60mi	3/2.0	1,620 (+14%)	3mo	$289,900	$179	44
11 Lee Road 2132	0.61mi	3/2.0	1,600 (+12%)	10mo	$284,990	$178	40
5810 21st Ave	0.63mi	3/1.0	1,220 (-14%)	10mo	$23,000	$19	36

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: 19.5%
• Equity multiple: 1.79×
• Total profit: $18,829
• Equity at exit: $12,659

10-year hold

• IRR: 27.8%
• Equity multiple: 3.45×
• Total profit: $58,255
• Equity at exit: $7,341

Cash invested: $23,772 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 4 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $269,664 ($181/sqft)
• Median days on market: 55 d
• This list price: 17% of active listings are priced below it
• ARV vs active asking: -39.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36854

• Active inventory: 199
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,277 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $512

Break-even live

Break-even rent $629

Max offer price $84,900

Occupancy floor 55%

Sensitivity live

Price	-10% $560	-5% $536	+0% $512	+5% $488	+10% $464
Rent	-10% $411	-5% $462	+0% $512	+5% $563	+10% $613
Rate	-1.0pp $555	-0.5pp $534	base $512	+0.5pp $490	+1.0pp $468

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: $21,225
• Closing costs: $2,547
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Property listed as estate ownedProperty condition: fixer
• HOA & community: No HOANo association fees

Exterior

• Parking: Attached carport
• Utilities: Public waterPublic sewer (sewer connected)Electricity availableNatural gas availableHigh speed Internet availableCable availablePhone available
• Home design: Single-family residenceHouseOne level
• Construction: Built in 1945Composition roofPillar/post/pier foundationOther construction materials
• Exterior features: Level lotHas a viewStreet lights in the community

Interior

• Kitchen: DishwasherRefrigeratorBreakfast area
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood / wood flooring
• Bathrooms: 1 full bathroom1 half bathroom (total 2 bathrooms / 1.5)
• Heating & cooling: Forced air heatingCentral air conditioningCeiling fans
• Interior features: Rear stairsCrawl space basementSeparate dining roomBreakfast roomSun room
• Laundry & utility: WasherDryerMud room laundry

Listing history 50 events

1. 2026-08-08
   days on market $84,900 Active 52 DOM
2. 2026-08-07
   days on market $84,900 Active 51 DOM
3. 2026-08-06
   days on market $84,900 Active 50 DOM
4. 2026-08-05
   days on market $84,900 Active 49 DOM
5. 2026-08-04
   days on market $84,900 Active 48 DOM
6. 2026-08-03
   days on market $84,900 Active 47 DOM
7. 2026-07-31
   days on market $84,900 Active 44 DOM
8. 2026-07-30
   days on market $84,900 Active 43 DOM
9. 2026-07-29
   days on market $84,900 Active 42 DOM
10. 2026-07-27
    days on market $84,900 Active 40 DOM
11. 2026-07-25
    days on market $84,900 Active 38 DOM
12. 2026-07-24
    days on market $84,900 Active 37 DOM
13. 2026-07-23
    days on market $84,900 Active 36 DOM
14. 2026-07-22
    days on market $84,900 Active 35 DOM
15. 2026-07-21
    days on market $84,900 Active 34 DOM
16. 2026-07-18
    days on market $84,900 Active 31 DOM
17. 2026-07-16
    days on market $84,900 Active 29 DOM
18. 2026-07-16
    days on market $84,900 Active 28 DOM
19. 2026-07-14
    days on market $84,900 Active 27 DOM
20. 2026-07-13
    days on market $84,900 Active 26 DOM
21. 2026-07-12
    statusdays on market $84,900 Active 25 DOM
22. 2026-07-11
    days on market $84,900 Price Change 24 DOM
23. 2026-07-10
    days on market $84,900 Price Change 23 DOM
24. 2026-07-10
    pricestatus $84,900 Price Change 22 DOM
25. 2026-07-09
    days on market $94,500 Active 22 DOM

    Show marketing remark (1063 chars)

    Perched proudly on a hill in an established neighborhood, this 1945 vintage gem is sturdy, 100% livable, and the ultimate sweat-equity paradise! Perfect for a buyer looking for affordability while making updates, the home features gorgeous original heart pine floors running throughout and a 10-minute walk to the Chattahoochee River—an absolute dream for fishermen and nature lovers. While surrounding homes have been modernized, this one is ready for your personal touch. It has great bones but could benefit from vinyl siding, repair to a small bit of interior wood rot near the side door and a full bathroom tub surround that you'll want to work on sooner rather than later. Best of all, the AC blows ice cold; it’s a legendary 26-year-old Rheem unit that proves what real durability looks like, alongside a working (but older) water heater. If you have a toolbelt, a vision, and a love for the river life, come make this classic home your own! See the charm for yourself in the photos, along with the honey-do list of what you'll need to work on.

26. 2026-07-08
    days on market $94,500 Active 21 DOM
27. 2026-07-07
    days on market $94,500 Active 20 DOM
28. 2026-07-06
    days on market $94,500 Active 19 DOM
29. 2026-07-05
    days on market $94,500 Active 18 DOM
30. 2026-07-04
    days on market $94,500 Active 17 DOM
31. 2026-07-03
    days on market $94,500 Active 16 DOM
32. 2026-07-02
    days on market $94,500 Active 15 DOM
33. 2026-07-01
    days on market $94,500 Active 14 DOM
34. 2026-07-01
    status $94,500 Active 13 DOM
35. 2026-06-30
    days on market $94,500 New 13 DOM
36. 2026-06-29
    days on market $94,500 New 12 DOM
37. 2026-06-28
    days on market $94,500 New 11 DOM
38. 2026-06-28
    days on market $94,500 New 10 DOM
39. 2026-06-27
    days on market $94,500 New 9 DOM
40. 2026-06-26
    days on market $94,500 New 8 DOM
41. 2026-06-22
    days on market $94,500 New 5 DOM
42. 2026-06-21
    days on market $94,500 New 4 DOM
43. 2026-06-19
    days on market $94,500 New 2 DOM
44. 2026-06-18
    remarks 699-char remark
45. 2026-06-18
    statuslisting id $94,500 New 1 DOM
46. 2026-06-17
    remarks 693-char remark

    Show marketing remark (1063 chars)

    Perched proudly on a hill in an established neighborhood, this 1945 vintage gem is sturdy, 100% livable, and the ultimate sweat-equity paradise! Perfect for a buyer looking for affordability while making updates, the home features gorgeous original heart pine floors running throughout and a 10-minute walk to the Chattahoochee River—an absolute dream for fishermen and nature lovers. While surrounding homes have been modernized, this one is ready for your personal touch. It has great bones but could benefit from vinyl siding, repair to a small bit of interior wood rot near the side door and a full bathroom tub surround that you'll want to work on sooner rather than later. Best of all, the AC blows ice cold; it’s a legendary 26-year-old Rheem unit that proves what real durability looks like, alongside a working (but older) water heater. If you have a toolbelt, a vision, and a love for the river life, come make this classic home your own! See the charm for yourself in the photos, along with the honey-do list of what you'll need to work on.

47. 2026-06-17
    pricedays on marketlisting id $94,500 Active 1 DOM

    Show marketing remark (1063 chars)

    Perched proudly on a hill in an established neighborhood, this 1945 vintage gem is sturdy, 100% livable, and the ultimate sweat-equity paradise! Perfect for a buyer looking for affordability while making updates, the home features gorgeous original heart pine floors running throughout and a 10-minute walk to the Chattahoochee River—an absolute dream for fishermen and nature lovers. While surrounding homes have been modernized, this one is ready for your personal touch. It has great bones but could benefit from vinyl siding, repair to a small bit of interior wood rot near the side door and a full bathroom tub surround that you'll want to work on sooner rather than later. Best of all, the AC blows ice cold; it’s a legendary 26-year-old Rheem unit that proves what real durability looks like, alongside a working (but older) water heater. If you have a toolbelt, a vision, and a love for the river life, come make this classic home your own! See the charm for yourself in the photos, along with the honey-do list of what you'll need to work on.

48. 2026-06-02
    days on market $119,000 Active 57 DOM
49. 2026-06-01
    days on market $119,000 Active 56 DOM
50. 2026-05-31
    days on market $119,000 Active 55 DOM

ⓘ 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: $194 · $16/mo
• Projected year-2 tax: $348 · $29/mo
• Expected delta: +$154/yr (+$13/mo · 79.7%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $15,326
• − Mortgage interest: −$4,756
• − Property taxes: −$194
• − Insurance: −$424
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$2,470
• Taxable income: $5,030
• Est. tax owed @ 24.0%: −$1,207
• After-tax cash flow: $4,939/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $35,550–$63,990 screening

This 1945 vintage home requires moderate renovations, including exterior painting and landscaping, to improve its condition and value. The original heart pine floors and great bones make it a good candidate for a buyer looking to make updates.

Components & finishes AI

Roof asphalt shingle · aged Flooring wood Appliances white HVAC window units · old 20plus

Deferred maintenance Est. $50,000–$150,000 screening

• Major Roof (roof) — Signs of significant wear and potential leaks
• Major Windows (windows) — Visible damage and potential drafts
• Major Electrical (electrical) — Older units and visible wear
• Major Plumbing (plumbing) — Older units and visible wear
• Major Exterior (exterior) — Significant wear and potential structural issues

Repairs flagged

• Major Exterior siding — Significant peeling and damage
• Minor Small bit of interior wood rot — Near the side door, visible in the listing photo
• Minor Small tub surround — Visible in the listing photo, needs repair

Value-add opportunities

• Resale Painting exterior — Fresh paint can significantly improve curb appeal and home value ↑
• Both Landscaping and lawn maintenance — A well-maintained yard and lawn can enhance both resale and rental value ↑
• Resale Repair small bit of interior wood rot — Minor repairs can prevent further damage and improve home's condition ↑
• Resale Replace small tub surround — A new tub surround can improve the bathroom's appearance and functionality ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 18/100

Zoned Schools

Elementary Lafayette Lanier Elementary School Middle W F Burns Middle School F AL #182/257 Nat'l #11,208/14,009 High Valley High School F AL #220/305 Nat'l #15,534/17,239

Schools (NCES district)

• District: Chambers County
• NCES district ID: 0100600
• Math proficiency: 10% ▼ -26.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $36,011
• Composite: 19.37/100
• National rank: #8785
• State rank: #101 of 129 in AL

C Composite livability gradescore 66/100

Livability — Valley

• Score: 66/100
• State rank: #96
• US rank: #11347

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valley, AL
• County: Chambers · 33,868 people
• Population (ZIP): 15,913
• Household income: $60,385
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 9% of renters

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Population outlook (Chambers County) Hauer SSP2

• Today (2025): 33,868 people
• By 2030: 33,504 · -1.1%
• By 2040: 32,594 · -3.8%
• By 2050: 31,422 · -7.2%
• By 2075: 29,054 · -14.2%
• By 2100: 25,431 · -24.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 28% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Korean 1%

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Political lean MEDSL · Chambers

• 2024 margin: Strong R (+23.2) · D 38.0% · R 61.2%
• 2008→2024 swing: -14.8pp toward R · 2008: -8.5pp · 2024: -23.2pp
• All cycles: 2024: R+23.2 2020: R+15.6 2016: R+14.8 2012: R+5.1 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.05%
• Current HPI: 186.0298
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• Other: Property listed as estate ownedProperty condition: fixer
• HOA & community: No HOANo association fees

Exterior

• Parking: Attached carport
• Utilities: Public waterPublic sewer (sewer connected)Electricity availableNatural gas availableHigh speed Internet availableCable availablePhone available
• Home design: Single-family residenceHouseOne level
• Construction: Built in 1945Composition roofPillar/post/pier foundationOther construction materials
• Exterior features: Level lotHas a viewStreet lights in the community

Interior

• Kitchen: DishwasherRefrigeratorBreakfast area
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Hardwood / wood flooring
• Bathrooms: 1 full bathroom1 half bathroom (total 2 bathrooms / 1.5)
• Heating & cooling: Forced air heatingCentral air conditioningCeiling fans
• Interior features: Rear stairsCrawl space basementSeparate dining roomBreakfast roomSun room
• Laundry & utility: WasherDryerMud room laundry

Price history

-34.2% since first listed

7 events — show timeline

• 2026-07-09 Price Changed $84,900 EABOR
• 2026-07-09 Price Changed $84,900 GAMLS
• 2026-06-17 Listed $94,500 EABOR
• 2026-06-17 Listed $94,500 GAMLS
• 2026-06-02 Listing Removed — GAMLS
• 2026-05-06 Price Changed $119,000 GAMLS
• 2026-03-23 Listed $129,000 GAMLS

Property tax history

+5.7%/yr

Latest (2025): $194 · +9.6% YoY. Source: county tax records.