422 W 4th Ave · Foley, AL 36535

$189,500

2 bd · 1.0 ba · 1,006 sqft · SingleFamily public records · 39 Days on market

Built 1950 7,250 sqft lot $188/sqft · 25% below area Est $252k · 25% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• 1% rule +3.2/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute cottage on nice corner lot. Walk to shopping and schools. Seller states roof 3 years, Furnace, 2 years, new windows and hurricane screens. Stackable washer and dryer to save space. Flooring, tile and laminate. All appliances stay. Fresh paint. Buyer to verify all information during due diligence.

Key facts

• Hurricane screens
• Walk to shopping
• Walk to schools

Tags

• CORNER LOT
• WALK TO SHOPPING
• WALK TO SCHOOLS
• NEW WINDOWS
• HURRICANE SCREENS
• STACKABLE WASHER AND DRYER

Property features AI

Finance

• Other: Listing handled by RE/MAX of Orange Beach
• HOA & community: Community amenities include an outdoor pool and a playground; No transfer fees

Exterior

• Parking: See remarks for parking details
• Utilities: Public water; Public sewer; Total electric service
• Home design: Resale property; One story; Faces south
• Construction: Vinyl siding; Composition roof; Slab foundation; Building area listed as 1006 (assessor)
• Exterior features: Community outdoor pool; Playground; Has a view; Less than 1 acre lot; No waterfront

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Master bedroom on the main level
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central electric cooling
• Interior features: Ceiling fan(s); No fireplace
• Laundry & utility: Stacked washer/dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/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 $155k (18.4% below list).
• Recommended offer: $155k (18.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.0% in Foley — 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 61/100 on livability (#241 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: employment D+, amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Foley Elementary School (math 22% / reading 44%, grade F, #323 of 627 statewide, top 52%, 992 students, 76% FRL); Foley Middle School (math 11% / reading 36%, grade F, #172 of 257 statewide, top 68%, 783 students, 82% FRL); Foley High School (math 24% / reading 25%, grade F, #118 of 305 statewide, top 45%, 1,578 students, 75% FRL) — zoned schools average 78% FRL vs 38% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 45% district-wide (-18 pts) — the specific schools serving this property underperform the Baldwin County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 875 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,883 units permitted in Baldwin County in 2024 (481 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 $6k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,581 (18.4% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (median comp): $251,775
• List price: $189,500
• Delta: -24.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
510 W 6th Ave	0.16mi	3/1.0 (+1)	916 (-9%)	8mo	$185,000	$202	66
400 W 6th Ave	0.15mi	3/1.0 (+1)	876 (-13%)	24mo	$188,000	$215	47
1180 Sweet Laurel St	0.74mi	2/1.0	915 (-9%)	23mo	$236,400	$258	31

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-26,397
• Equity at exit: $28,255

10-year hold

• IRR: -7.0%
• Equity multiple: 0.57×
• Total profit: $-22,663
• Equity at exit: $16,384

Cash invested: $53,060 (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 36535

• Home prices YoY: -24.9%
• Rents YoY: 1.8%
• Active inventory: 875
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,546 high
• Mortgage (P&I): −$994
• Tax from tax record: −$51 /mo · $608/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $98

Break-even live

Break-even rent $1,422

Max offer price $189,500

Occupancy floor 89%

Sensitivity live

Price	-10% $205	-5% $151	+0% $98	+5% $44	+10% $-9
Rent	-10% $-24	-5% $37	+0% $98	+5% $159	+10% $220
Rate	-1.0pp $193	-0.5pp $146	base $98	+0.5pp $49	+1.0pp $-1

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 E Lawson Ave Foley, AL	1.0–3.0	1.0–2.0	1054	$1,313	$1.25	14d	1	0.62mi
904 Shagbark Rd Foley, AL	3.0–4.0	2.0	1671	$1,799	$1.08	14d	1	0.68mi
503 S Cedar St Foley, AL	2.0	2.0	1200	$1,600	$1.33	44d	1	0.76mi
431 Hamilton Blvd Foley, AL	3.0	2.0	1351	$1,695	$1.25	21d	1	0.93mi
502 Meadow Ln Foley, AL	3.0	2.0	1438	$1,695	$1.18	44d	1	0.96mi
116 S Elm St Unit 116 Foley, AL	3.0	2.0	1125	$1,350	$1.20	45d	1	1.15mi
458 Riviera Blvd Foley, AL	1.0–3.0	1.0–2.0	1123	$1,579	$1.41	14d	13	1.17mi
679 E Michigan Ave Foley, AL	1.0–2.0	1.0–2.0	955	$1,500	$1.57	44d	4	1.19mi
104 E Laurel Ave Foley, AL	1.0	1.0	766	$1,000	$1.31	44d	1	1.20mi
2800 Browning Way Foley, AL	1.0–3.0	1.0–2.0	945	$1,534	$1.62	14d	37	1.24mi
1802 Cashew Cir Foley, AL	2.0–5.0	2.0–2.5	1702	$1,850	$1.09	44d	1	1.27mi
635 E Azalea Ave Foley, AL	3.0	1.0	988	$1,100	$1.11	21d	1	1.37mi
2651 S Juniper St Foley, AL	2.0–3.0	2.0	1267	$1,500	$1.18	21d	3	1.41mi
2651 S Juniper St Foley, AL	3.0	2.0	1260	$1,925	$1.53	44d	2	1.41mi
19364 Chelsey Dr Foley, AL	3.0	2.0	1355	$1,549	$1.14	21d	1	1.43mi
19362 Chelsey Dr Foley, AL	2.0	2.0	1102	$1,375	$1.25	21d	1	1.43mi
19360 Chelsey Dr Foley, AL	1.0	1.0	809	$1,249	$1.54	21d	1	1.43mi

Listing history 19 events

1. 2026-06-19
   days on market $189,500 Active 39 DOM
2. 2026-06-18
   days on market $189,500 Active 38 DOM
3. 2026-06-17
   days on market $189,500 Active 37 DOM
4. 2026-06-16
   days on market $189,500 Active 36 DOM
5. 2026-06-15
   days on market $189,500 Active 35 DOM
6. 2026-06-14
   days on market $189,500 Active 33 DOM
7. 2026-06-13
   days on market $189,500 Active 32 DOM
8. 2026-06-10
   days on market $189,500 Active 30 DOM
9. 2026-06-09
   days on market $189,500 Active 29 DOM
10. 2026-06-08
    days on market $189,500 Active 28 DOM
11. 2026-06-07
    days on market $189,500 Active 27 DOM
12. 2026-06-05
    days on market $189,500 Active 24 DOM
13. 2026-06-03
    days on market $189,500 Active 23 DOM
14. 2026-06-02
    days on market $189,500 Active 22 DOM
15. 2026-06-01
    days on market $189,500 Active 21 DOM
16. 2026-05-31
    days on market $189,500 Active 20 DOM
17. 2026-05-30
    days on market $189,500 Active 19 DOM
18. 2026-05-12
    price $189,500 302-char remark
19. 2026-05-11
    listed $189,500,000 Active 302-char remark

ⓘ 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: $608 · $51/mo
• Projected year-2 tax: $777 · $65/mo
• Expected delta: +$169/yr (+$14/mo · 27.8%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,550
• − Mortgage interest: −$10,615
• − Property taxes: −$608
• − Insurance: −$948
• − Repairs & maintenance: −$1,484
• − Management: −$1,484
• − Depreciation: −$5,513
• Taxable loss: −$2,101
• Est. tax savings @ 24.0%: +$504
• After-tax cash flow: $1,678/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Foley

• Score: 61/100
• State rank: #241
• US rank: #17616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Foley, AL
• County: Baldwin County · 181,514 people
• City population: 40,628
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 40,628
• Household income: $66,714
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 803.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.82%
• Current HPI: 262.2796
• Rent YoY: ▲ 1.81%
• Metro: Daphne-Fairhope-Foley, 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

-99.9% since first listed

2 events — show timeline

• 2026-05-12 Price Changed $189,500 BCAR
• 2026-05-11 Listed $189,500,000 BCAR

Property tax history

+8.5%/yr

Latest (2025): $608 · +6.6% YoY. Source: county tax records.