108 Carr St · Tallassee, AL 36078

$150,000

3 bd · 1.0 ba · 2,120 sqft · SingleFamily public records · 187 Days on market

Built 1940 0.82 ac lot Est $193k · 22% 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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 108 Carr St in Tallassee — a spacious home on a large 0.82± acre city lot offering over 2,100 square feet of living space. Built in 1940, this property provides plenty of room both inside and out, along with a variety of features that add flexibility. This home offers 3 bedrooms and 2 bathrooms, along with multiple living areas that create options for layout and use. According to the seller, the property is currently zoned agricultural; buyers are encouraged to verify zoning and any intended uses directly with the City of Tallassee if this is important to them. The home is heated and cooled by three mini-split units, and a wood-burning stove provides an additional he

Key facts

• Workshop building
• Large city lot
• Zoned agricultural

Tags

• LARGE CITY LOT
• MULTIPLE LIVING AREAS
• ZONED AGRICULTURAL
• PRIVACY-FENCED BACKYARD
• FRUIT TREES
• WORKSHOP BUILDING

Property features AI

Exterior

• Parking: Detached carport; Carport for 1 vehicle
• Utilities: Public water; Public sewer; Electricity available; High-speed internet available; Cable available
• Home design: Single-story; Irregular lot shape; Access from private and public roadways
• Construction: Wood siding; Built (year per public records)
• Exterior features: Fence (partial, privacy); Covered porch; Porch; Storage; Workshop; Mature trees; Level lot; City lot

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave
• Bedrooms: Bedroom on the first level
• Flooring: Plank; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ductless heating; Ductless cooling; Ceiling fan(s)
• Interior features: Jetted tub
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $43 ($519/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 $137k (8.9% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.0% in Tallassee — 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 56/100 on livability (#418 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Tallassee City (rural): math 23% / reading 40% proficiency, ranked #60 of 129 in AL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 187 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $87k; list at $150k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 187 days. Have you received any prior offers? Is the seller open to a 12% 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 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?
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: 0.91% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.24%
• DSCR: 1.05
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $192,920
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 Lilly Ave	0.59mi	3/2.0	2,025 (-4%)	16mo	$205,000	$101	48
417 Lilly Ave	0.63mi	3/2.0	1,887 (-11%)	2mo	$170,000	$90	47
506 Lilly Ave	0.56mi	3/2.0	2,350 (+11%)	11mo	$215,000	$91	43
521 Freeman Ave	0.47mi	4/2.0 (+1)	2,417 (+14%)	4mo	$75,000	$31	42
310 Riverside Dr	0.54mi	3/2.0	1,892 (-11%)	17mo	$244,900	$129	39

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-21,531
• Equity at exit: $22,365

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-15,117
• Equity at exit: $12,969

Cash invested: $42,000 (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 36078

• Home prices YoY: -21.3%
• Active inventory: 113
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,367 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $43

Break-even live

Break-even rent $1,312

Max offer price $150,000

Occupancy floor 92%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-18
   historical Contingent
2. 2026-04-01
   price $150,000
3. 2026-02-11
   price $164,900
4. 2026-01-20
   price $189,900
5. 2025-11-20
   listed $199,900 Active
6. 2007-02-02
   soldstatus $87,000

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $16,403
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$4,364
• Taxable loss: −$1,987
• Est. tax savings @ 24.0%: +$477
• After-tax cash flow: $996/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: Tallassee City
• NCES district ID: 0103240
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $46,393
• Composite: 27.03/100
• National rank: #7055
• State rank: #60 of 129 in AL

Livability — Tallassee

• Score: 56/100
• State rank: #418
• US rank: #22846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tallassee, AL
• Population (ZIP): 13,460

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 18% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 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: ▼ -48.68%
• Current HPI: 179.7258
• 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

+72.4% since first listed

6 events — show timeline

• 2026-04-18 Contingent — MAAR
• 2026-04-01 Price Changed $150,000 MAAR
• 2026-02-11 Price Changed $164,900 MAAR
• 2026-01-20 Price Changed $189,900 MAAR
• 2025-11-20 Listed $199,900 MAAR
• 2007-02-02 Sold (Public Records) $87,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $244 · -4.5% YoY. Source: county tax records.