1232 E Hummingbird Ln #202 · Gulf Shores, AL 36542

$230,000

2 bd · 2.0 ba · 1,341 sqft · SingleFamily · 201 Days on market

55+ age-restricted Built 1984 Good condition $172/sqft · 35% below area Est $356k · 35% under $545/mo HOA · 24% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• Schools +5.1/10.0
• 1% rule +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• DSCR +3.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this spacious 2-bedroom, 2-bathroom ground-floor condo in the desirable Oyster Bay Village, a 55+ community offering a relaxed, low-maintenance coastal lifestyle. With 1,341 square feet of living space, this well-maintained unit features a functional single-level layout with a generous living area, dedicated dining space, and a bright kitchen equipped with electric range, refrigerator, and ample cabinetry. In addition to the main living areas, the unit includes a versatile den that can be used as a home office, sitting area, or flex space to fit your needs. Both bedrooms offer en-suite baths, providing comfort and privacy for owners and guests alike.

Key facts

• Bright kitchen
• Electric range
• Ample cabinetry

Tags

• GROUND-FLOOR CONDO
• SINGLE-LEVEL LAYOUT
• DEDICATED DINING SPACE
• BRIGHT KITCHEN
• ELECTRIC RANGE
• AMPLE CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-360 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (2.3% below list).
• Recommended offer: $178k (22.6% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 0.5% in Gulf Shores — 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 69/100 on livability (#61 in AL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: amenities F, commute F.
• Zoned schools: Gulf Shores Elementary School (math 47% / reading 72%, grade B-, #63 of 627 statewide, top 10%, 1,062 students, 44% FRL); Gulf Shores Middle School (math 34% / reading 62%, grade C-, #29 of 257 statewide, top 12%, 589 students, 48% FRL); Gulf Shores High School (math 42% / reading 47%, grade F, #22 of 305 statewide, top 8%, 799 students, 37% FRL).
• Market conditions: Rents rising (+3.7%/yr); 1852 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 154d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 34% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $7k 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 201 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,962 (22.6% 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 201 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.98% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.70%
• DSCR: 0.70
• GRM: 8.5

CMA / ARV

• ARV (median comp): $355,756
• List price: $230,000
• Delta: -35.35%
• 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
2167 Garden Park Ter	0.33mi	3/2.0 (+1)	1,431 (+7%)	5mo	$350,000	$245	64
1296 W Beach Boulevard Blvd	0.99mi	2/2.0	1,288 (-4%)	1mo	$680,000	$528	58
1484 Sandpiper Lane Ln #5	0.85mi	2/2.5	1,240 (-8%)	3mo	$310,000	$250	48
16611 Brigadoon Trail Trl	0.88mi	2/2.0	1,200 (-10%)	3mo	$515,000	$429	45
16637 Brigadoon Trail Trl	0.85mi	3/2.0 (+1)	1,200 (-10%)	2mo	$575,000	$479	41
18389 State Highway 180 Unit G	1.06mi	2/2.0	1,145 (-15%)	3mo	$285,000	$249	38
1592 W Beach Boulevard Blvd Unit F	1.06mi	3/4.0 (+1)	1,440 (+7%)	2mo	$710,000	$493	38
1592 W Beach Blvd Unit J	1.08mi	3/4.0 (+1)	1,440 (+7%)	4mo	$689,000	$478	37
1592 W Beach Blvd Unit Q	1.06mi	3/4.0 (+1)	1,440 (+7%)	5mo	$725,000	$503	36
1292 W Beach Blvd	1.00mi	3/2.0 (+1)	1,116 (-17%)	4mo	$650,000	$582	31
1524 W Beach Boulevard Blvd #301	0.98mi	3/3.0 (+1)	1,536 (+14%)	3mo	$560,000	$365	30
2368 Wallace Ln	0.79mi	3/1.5 (+1)	1,556 (+16%)	9mo	$325,000	$209	26

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 · 3.71% rent growth · sell at horizon

5-year hold

• IRR: -26.5%
• Equity multiple: 0.10×
• Total profit: $-58,189
• Equity at exit: $34,294

10-year hold

• IRR: -20.2%
• Equity multiple: -0.12×
• Total profit: $-71,937
• Equity at exit: $19,886

Cash invested: $64,400 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 27 active · 14 under contract
• Months of supply: 18.0 mo (6%/mo absorbed)
• Median asking: $357,890 ($234/sqft)
• Median days on market: 99 d
• This list price: 7% of active listings are priced below it
• ARV vs active asking: +13.5% above current asking $/sqft

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

ZIP-level market 36542

• Rents YoY: 3.7%
• Active inventory: 1852
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,247 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$545
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-360

Break-even live

Break-even rent $2,702

Max offer price $177,962

Occupancy floor —

Sensitivity live

Price	-10% $-201	-5% $-280	+0% $-360	+5% $-439	+10% $-519
Rent	-10% $-537	-5% $-448	+0% $-360	+5% $-271	+10% $-182
Rate	-1.0pp $-244	-0.5pp $-301	base $-360	+0.5pp $-419	+1.0pp $-480

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: $57,500
• Closing costs: $6,900
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1474 West Beach Blvd #2 Gulf Shores, AL	3.0	2.5	1560	$2,750	$1.76	7d	1	0.97mi
1159 W Beach Blvd Unit 1541225P Gulf Shores, AL	2.0	1.0	893	$3,020	$3.38	154d	1	1.16mi
979 W Lagoon Ave Unit 1A Gulf Shores, AL	2.0	2.0	905	$2,000	$2.21	162d	1	1.36mi
962 W Beach Blvd Unit A Gulf Shores, AL	2.0	2.0	1000	$2,200	$2.20	51d	1	1.39mi
962 W Beach Blvd Unit A Gulf Shores, AL	2.0	2.0	1000	$2,200	$2.20	1d	1	1.39mi
957 W Beach Blvd Unit 1541213P Gulf Shores, AL	2.0	2.0	947	$3,386	$3.58	154d	1	1.50mi

Property features AI

Finance

• Other: Condominium ownershipCommunity pool and spa features
• HOA & community: Monthly association fee (includes management, cable TV, clubhouse, pool, fitness center, indoor pool, meeting room, recreational facilities, maintenance grounds, pest control, trash, water/sewer, internet, reserve funds, common area insurance, taxes for common areas)55+ / Senior communityCommunity features include clubhouse, fitness center, fishing, game room, gazebo, pool (association/indoor), meeting room, and deeded water access

Exterior

• Parking: Attached carport (1 covered space)
• Utilities: Cable connectedElectric service by Baldwin EMCHas heating (electric)
• Home design: DuplexAttached propertyOne storyResaleCovered patio/porch and screened rear porch
• Construction: Built with concrete board sidingSlab foundationMetal roof
• Exterior features: Covered patio/porch with screened rear porch and front porchStorageFew trees on lotDeeded water access

Interior

• Kitchen: Electric rangeRefrigerator
• Bedrooms: Primary bedroom with attached bath and walk-in closet (main level)Second bedroom (approximately 11.1 x 10.4)
• Flooring: CarpetTile
• Bathrooms: Two full bathroomsPrimary bathroom with tub/shower combo and single vanity
• Heating & cooling: Electric heating
• Interior features: Ceiling fansEn-suite bathInternet accessStorage
• Laundry & utility: Stacked washer/dryer

HOA detail $545/mo · $6,540/yr

• Likely covers: electric

Listing history 50 events

1. 2026-11-08
   days on market $230,000 Active 201 DOM
2. 2026-11-07
   days on market $230,000 Active 200 DOM
3. 2026-11-06
   days on market $230,000 Active 199 DOM
4. 2026-11-05
   days on market $230,000 Active 198 DOM
5. 2026-11-04
   days on market $230,000 Active 197 DOM
6. 2026-11-02
   days on market $230,000 Active 195 DOM
7. 2026-11-01
   days on market $230,000 Active 194 DOM
8. 2026-10-31
   days on market $230,000 Active 193 DOM
9. 2026-10-30
   days on market $230,000 Active 192 DOM
10. 2026-10-29
    days on market $230,000 Active 191 DOM
11. 2026-10-28
    days on market $230,000 Active 190 DOM
12. 2026-10-27
    days on market $230,000 Active 189 DOM
13. 2026-10-26
    days on market $230,000 Active 188 DOM
14. 2026-10-25
    days on market $230,000 Active 187 DOM
15. 2026-10-24
    days on market $230,000 Active 186 DOM
16. 2026-10-23
    days on market $230,000 Active 185 DOM
17. 2026-10-22
    days on market $230,000 Active 184 DOM
18. 2026-10-21
    days on market $230,000 Active 183 DOM
19. 2026-10-20
    days on market $230,000 Active 182 DOM
20. 2026-10-19
    days on market $230,000 Active 181 DOM
21. 2026-10-18
    days on market $230,000 Active 180 DOM
22. 2026-10-17
    days on market $230,000 Active 179 DOM
23. 2026-10-16
    days on market $230,000 Active 178 DOM
24. 2026-10-15
    days on market $230,000 Active 177 DOM
25. 2026-10-14
    days on market $230,000 Active 176 DOM
26. 2026-10-13
    days on market $230,000 Active 175 DOM
27. 2026-10-12
    days on market $230,000 Active 174 DOM
28. 2026-10-11
    days on market $230,000 Active 173 DOM
29. 2026-10-10
    days on market $230,000 Active 172 DOM
30. 2026-10-09
    days on market $230,000 Active 171 DOM
31. 2026-10-08
    days on market $230,000 Active 170 DOM
32. 2026-10-07
    days on market $230,000 Active 169 DOM
33. 2026-10-06
    days on market $230,000 Active 168 DOM
34. 2026-10-05
    days on market $230,000 Active 167 DOM
35. 2026-10-04
    days on market $230,000 Active 166 DOM
36. 2026-10-03
    days on market $230,000 Active 165 DOM
37. 2026-10-02
    days on market $230,000 Active 164 DOM
38. 2026-10-01
    days on market $230,000 Active 163 DOM
39. 2026-09-30
    days on market $230,000 Active 162 DOM
40. 2026-09-29
    days on market $230,000 Active 161 DOM
41. 2026-09-28
    days on market $230,000 Active 160 DOM
42. 2026-09-27
    days on market $230,000 Active 159 DOM
43. 2026-09-26
    days on market $230,000 Active 158 DOM
44. 2026-09-25
    days on market $230,000 Active 157 DOM
45. 2026-09-24
    days on market $230,000 Active 156 DOM
46. 2026-09-24
    days on market $230,000 Active 155 DOM
47. 2026-09-22
    days on market $230,000 Active 154 DOM
48. 2026-09-21
    days on market $230,000 Active 153 DOM
49. 2026-09-20
    days on market $230,000 Active 152 DOM
50. 2026-09-19
    days on market $230,000 Active 151 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 13% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 6 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,960
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,157
• − Management: −$2,157
• − HOA: −$6,540
• − Depreciation: −$6,691
• Taxable loss: −$8,068
• Est. tax savings @ 24.0%: +$1,936
• After-tax cash flow: $-2,379/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $6,705–$20,115 screening

This well-maintained 2-bedroom, 2-bathroom ground-floor condo in Oyster Bay Village is in good condition with minor repairs needed in the kitchen. It offers a functional layout and a low-maintenance coastal lifestyle.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Kitchen countertops — Need cleaning

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — Fresh cabinets improve functionality and aesthetics ↑
• Both Replace kitchen countertops — New countertops improve functionality and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic 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.

D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Gulf Shores Elementary School B- AL #63/627 Nat'l #7,252/41,679 Middle Gulf Shores Middle School C- AL #29/257 Nat'l #3,953/14,009 High Gulf Shores High School F AL #22/305 Nat'l #6,890/17,239

Schools (NCES district)

No district data.

C Composite livability gradescore 69/100

Livability — Gulf Shores

• Score: 69/100
• State rank: #61
• US rank: #8945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulf Shores, AL
• County: Baldwin County · 248,264 people
• City population: 18,906
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 18,906
• Household income: $79,639
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 3% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Other Asian/Pacific 1%

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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: ▼ -153.95%
• Current HPI: 257.6494
• Rent YoY: ▲ 3.71%
• Metro: Daphne-Fairhope-Foley, AL
• 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: Condominium ownershipCommunity pool and spa features
• HOA & community: Monthly association fee (includes management, cable TV, clubhouse, pool, fitness center, indoor pool, meeting room, recreational facilities, maintenance grounds, pest control, trash, water/sewer, internet, reserve funds, common area insurance, taxes for common areas)55+ / Senior communityCommunity features include clubhouse, fitness center, fishing, game room, gazebo, pool (association/indoor), meeting room, and deeded water access

Exterior

• Parking: Attached carport (1 covered space)
• Utilities: Cable connectedElectric service by Baldwin EMCHas heating (electric)
• Home design: DuplexAttached propertyOne storyResaleCovered patio/porch and screened rear porch
• Construction: Built with concrete board sidingSlab foundationMetal roof
• Exterior features: Covered patio/porch with screened rear porch and front porchStorageFew trees on lotDeeded water access

Interior

• Kitchen: Electric rangeRefrigerator
• Bedrooms: Primary bedroom with attached bath and walk-in closet (main level)Second bedroom (approximately 11.1 x 10.4)
• Flooring: CarpetTile
• Bathrooms: Two full bathroomsPrimary bathroom with tub/shower combo and single vanity
• Heating & cooling: Electric heating
• Interior features: Ceiling fansEn-suite bathInternet accessStorage
• Laundry & utility: Stacked washer/dryer

Price history

+0.0% since first listed

3 events — show timeline

• 2026-04-21 Listed $230,000 BCAR
• 2025-10-09 Price Changed $220,000 BCAR
• 2025-09-08 Listed $230,000 BCAR