115 Calhoun St · Piedmont, AL 36272

$139,900

2 bd · 2.0 ba · 1,516 sqft · SingleFamily public records · 66 Days on market

Built 1880 0.27 ac lot $92/sqft · 8% below area Est $152k · 8% 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 +13.1/30.0
• ARV discount +11.1/15.0
• Schools +4.0/10.0
• DSCR +3.9/10.0
• Livability +2.9/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step back in time with this charming 2-bedroom, 2-bath home built in 1880, full of character and timeless appeal. From its historic details to its inviting atmosphere, this property offers a unique blend of classic charm and comfortable living. Tons of natural light throughtout the Home. Beautiful columns on the very large frontporch. Fenced backyard with a workshop. Ideally located within walking distance of beautiful downtown Piedmont, you’ll have easy access to local shops, dining, and The Chief Ladiga Trail. Whether you’re relaxing at home or exploring all that the Piedmont area has to offer, this property is a perfect place to enjoy small-town living at its finest. Several new upgrades to include new roof & paint.

Key facts

• Large front porch
• Walking distance
• Natural light

Tags

• HISTORIC DETAILS
• NATURAL LIGHT
• LARGE FRONT PORCH
• FENCED BACKYARD
• WORKSHOP
• WALKING DISTANCE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-5 ($-63/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (25.3% below list).
• Recommended offer: $104k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.5% in Piedmont — 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 57/100 on livability (#402 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• Piedmont City (town): math 40% / reading 57% proficiency, ranked #14 of 129 in AL (top 11%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 88 active listings in the ZIP; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $103k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,461 (25.3% 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 66 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
8. 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.
9. 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.
10. 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: 0.75% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 11.2

CMA / ARV

• ARV (median comp): $152,066
• List price: $139,900
• Delta: -8.00%
• 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
313 S Main St	0.08mi	2/2.0	1,497 (-1%)	11mo	$210,000	$140	85
576 Adamson St	0.28mi	3/2.0 (+1)	1,640 (+8%)	9mo	$299,900	$183	61
406 Riddle Ave	0.12mi	3/2.0 (+1)	1,672 (+10%)	15mo	$219,900	$132	60
407 S Main St	0.14mi	3/1.0 (+1)	1,332 (-12%)	7mo	$168,000	$126	59
610 Adamson St	0.27mi	3/2.0 (+1)	1,680 (+11%)	9mo	$299,000	$178	57
109 N Church St	0.43mi	3/2.0 (+1)	1,420 (-6%)	10mo	$210,000	$148	56
302 E Ladiga St	0.45mi	3/1.5 (+1)	1,632 (+8%)	5mo	$179,000	$110	55
613 Main St S	0.36mi	3/2.0 (+1)	1,585 (+5%)	20mo	$75,900	$48	54
303 E Ladiga St	0.45mi	2/1.0	1,436 (-5%)	19mo	$85,000	$59	50
103 Thatcher St	0.57mi	2/1.0	1,412 (-7%)	12mo	$70,000	$50	48
186 Ridgeway Dr	0.45mi	3/2.0 (+1)	1,697 (+12%)	8mo	$285,000	$168	48
20654 Highway 9	0.51mi	3/1.0 (+1)	1,380 (-9%)	15mo	$145,000	$105	40

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: -16.6%
• Equity multiple: 0.41×
• Total profit: $-23,072
• Equity at exit: $20,860

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-20,797
• Equity at exit: $12,096

Cash invested: $39,172 (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 36272

• Home prices YoY: -10.2%
• Active inventory: 88
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,045 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$39 /mo · $463/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $-5

Break-even live

Break-even rent $1,051

Max offer price $138,974

Occupancy floor 96%

Sensitivity live

Price	-10% $74	-5% $34	+0% $-5	+5% $-45	+10% $-84
Rent	-10% $-88	-5% $-47	+0% $-5	+5% $36	+10% $77
Rate	-1.0pp $65	-0.5pp $30	base $-5	+0.5pp $-41	+1.0pp $-78

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-01
   days on market $139,900 Active 66 DOM
2. 2026-05-31
   days on market $139,900 Active 65 DOM
3. 2026-05-31
   days on market $139,900 Active 64 DOM
4. 2026-05-19
   price $139,900 746-char remark

   Show marketing remark (746 chars)

   Step back in time with this charming 2-bedroom, 2-bath home built in 1880, full of character and timeless appeal. From its historic details to its inviting atmosphere, this property offers a unique blend of classic charm and comfortable living. Tons of natural light throughtout the Home. Beautiful columns on the very large frontporch. Fenced backyard with a workshop. Ideally located within walking distance of beautiful downtown Piedmont, you’ll have easy access to local shops, dining, and The Chief Ladiga Trail. Whether you’re relaxing at home or exploring all that the Piedmont area has to offer, this property is a perfect place to enjoy small-town living at its finest. Several new upgrades to include new roof & paint.

5. 2026-05-03
   price $144,900 746-char remark

   Show marketing remark (746 chars)

   Step back in time with this charming 2-bedroom, 2-bath home built in 1880, full of character and timeless appeal. From its historic details to its inviting atmosphere, this property offers a unique blend of classic charm and comfortable living. Tons of natural light throughtout the Home. Beautiful columns on the very large frontporch. Fenced backyard with a workshop. Ideally located within walking distance of beautiful downtown Piedmont, you’ll have easy access to local shops, dining, and The Chief Ladiga Trail. Whether you’re relaxing at home or exploring all that the Piedmont area has to offer, this property is a perfect place to enjoy small-town living at its finest. Several new upgrades to include new roof & paint.

6. 2026-03-27
   listed $149,900 Active 746-char remark

   Show marketing remark (746 chars)

   Step back in time with this charming 2-bedroom, 2-bath home built in 1880, full of character and timeless appeal. From its historic details to its inviting atmosphere, this property offers a unique blend of classic charm and comfortable living. Tons of natural light throughtout the Home. Beautiful columns on the very large frontporch. Fenced backyard with a workshop. Ideally located within walking distance of beautiful downtown Piedmont, you’ll have easy access to local shops, dining, and The Chief Ladiga Trail. Whether you’re relaxing at home or exploring all that the Piedmont area has to offer, this property is a perfect place to enjoy small-town living at its finest. Several new upgrades to include new roof & paint.

7. 2024-07-30
   soldstatus $103,000
8. 2024-07-29
   soldstatus $103,000 Sold 80-char remark

   Show marketing remark (80 chars)

   Sold before print. Comp purposes only. 2 Bedroom 2 Bath needs some TLC. New roof

9. 2024-07-25
   status Pending 80-char remark

   Show marketing remark (80 chars)

   Sold before print. Comp purposes only. 2 Bedroom 2 Bath needs some TLC. New roof

10. 2024-07-24
    listed $130,000 Active 80-char remark

    Show marketing remark (80 chars)

    Sold before print. Comp purposes only. 2 Bedroom 2 Bath needs some TLC. New roof

11. 2024-04-05
    soldstatus $51,500
12. 2005-11-01
    soldstatus $61,000

ⓘ 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: $463 · $39/mo
• Projected year-2 tax: $574 · $48/mo
• Expected delta: +$111/yr (+$9/mo · 24.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,535
• − Mortgage interest: −$7,837
• − Property taxes: −$463
• − Insurance: −$700
• − Repairs & maintenance: −$1,003
• − Management: −$1,003
• − Depreciation: −$4,070
• Taxable loss: −$2,539
• Est. tax savings @ 24.0%: +$609
• After-tax cash flow: $546/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: Piedmont City
• NCES district ID: 0102760
• Math proficiency: 40% ▼ -14.00%
• Reading proficiency: 57% ▲ 6.00%
• Median HH income: $32,302
• Composite: 39.78/100
• National rank: #3881
• State rank: #14 of 129 in AL

Livability — Piedmont

• Score: 57/100
• State rank: #402
• US rank: #22342

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Piedmont, AL
• City population: 12,996
• Population (ZIP): 12,996

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 109,765 people
• By 2030: 105,708 · -3.7%
• By 2040: 96,192 · -12.4%
• By 2050: 86,413 · -21.3%
• By 2075: 63,467 · -42.2%
• By 2100: 44,704 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Russian 2% Serbian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+44.8) · D 27.2% · R 71.9%
• 2008→2024 swing: -12.2pp toward R · 2008: -32.5pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+39.0 2016: R+41.4 2012: R+31.9 2008: R+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.87%
• Current HPI: 192.177
• 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

+129.3% since first listed

9 events — show timeline

• 2026-05-19 Price Changed $139,900 Greater Alabama MLS
• 2026-05-03 Price Changed $144,900 Greater Alabama MLS
• 2026-03-27 Listed $149,900 Greater Alabama MLS
• 2024-07-30 Sold (Public Records) $103,000 Public Records
• 2024-07-29 Sold (MLS) $103,000 Greater Alabama MLS
• 2024-07-25 Pending — Greater Alabama MLS
• 2024-07-24 Listed $130,000 Greater Alabama MLS
• 2024-04-05 Sold (Public Records) $51,500 Public Records
• 2005-11-01 Sold (Public Records) $61,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $463 · -37.3% YoY. Source: county tax records.