1022 Joaneen Dr · Saraland, AL 36571

$215,000

2 bd · 2.0 ba · 1,749 sqft · SingleFamily public records · 64 Days on market

Built 1994 0.34 ac lot $123/sqft · 20% below area Est $267k · 20% 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 +9.8/30.0
• Schools +5.3/10.0
• Livability +3.4/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 Bedroom, 2 Bath Home with Bonus Room & Exceptional Outdoor Space! Welcome home to this freshly painted 4-bedroom, 2-bath property offering charm, space, and versatility both inside and out. This inviting home features original restored hardwood floors, along with a blend of tile and carpet in select areas for comfort and function. Elegant crown molding and recessed lighting add a stylish touch throughout the home. The kitchen is equipped with stainless steel appliances, making it both modern and move-in ready. A large bonus room provides flexible space that can be used as playroom, media room, or guest area. Step outside and enjoy the large backyard, perfect for entertaining, relaxing, or creating your own outdoor retreat. Included is a custom-built arbor and an impressive 20x25 metal shed/workshop featuring a 200-amp service, and a concrete floor - ideal for hobbies, storage, or a workshop. Attached to the shed is an additional concrete slab, offering excellent space for extra parking, RV storage, or even a boat. New roof 2017, New HVAC 2025, New Hot Water Heater 2025, Whole House Moisture Barrier Added Underneath Home. Large Utility Room, New Ceiling Fans throughout. Conveniently located near the interstate, parks, and shopping centers, this home combines comfort, functionality, and a great location. A must see with so much to offer! All offers must be accompanied by a pre-approval letter or proof of funds. The buyer and/or buyer’s agent is responsible for verifying all pertinent information related to the property.

Key facts

• Large bonus room
• Large backyard
• 200-amp service

Tags

• STAINLESS STEEL APPLIANCES
• LARGE BONUS ROOM
• LARGE BACKYARD
• CUSTOM-BUILT ARBOR
• 20X25 METAL SHED/WORKSHOP
• 200-AMP SERVICE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (33.1% below list).
• Recommended offer: $144k (33.1% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.9% in Saraland — 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 68/100 on livability (#72 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Saraland City (suburban): math 53% / reading 71% proficiency, ranked #6 of 129 in AL (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 173 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,678 units permitted in Mobile County in 2024 (264 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.
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $117k; list at $215k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,907 (33.1% 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 64 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
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. 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?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.75%
• DSCR: 0.88
• GRM: 12.5

CMA / ARV

• ARV (median comp): $267,326
• List price: $215,000
• Delta: -19.57%
• 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
1011 Joaneen Dr	0.08mi	3/2.0 (+1)	1,682 (-4%)	9mo	$182,500	$109	78
925 2nd Ave	0.20mi	3/3.0 (+1)	1,753 (+0%)	9mo	$285,000	$163	74
807 Timber Ln	0.42mi	3/2.0 (+1)	1,726 (-1%)	2mo	$262,000	$152	71
804 Myron Ave	0.29mi	3/2.0 (+1)	1,838 (+5%)	8mo	$290,000	$158	67
832 Shelton Beach Rd	0.33mi	3/2.0 (+1)	1,673 (-4%)	11mo	$245,000	$146	63
808 Timber Ln	0.39mi	3/2.0 (+1)	1,725 (-1%)	21mo	$274,900	$159	57
721 Mae St	0.39mi	3/2.0 (+1)	1,854 (+6%)	15mo	$220,000	$119	54
708 Burke St	0.33mi	3/2.0 (+1)	1,869 (+7%)	18mo	$315,000	$169	53
904 Arrowhead Dr	0.31mi	3/2.0 (+1)	1,612 (-8%)	21mo	$262,500	$163	50
803 Ann St	0.40mi	3/2.0 (+1)	1,586 (-9%)	14mo	$225,000	$142	50
217 Stauffer Ave	0.66mi	3/2.0 (+1)	1,957 (+12%)	2mo	$225,000	$115	43
605 Gilbert St	0.72mi	3/1.5 (+1)	1,664 (-5%)	18mo	$219,000	$132	37

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: -20.9%
• Equity multiple: 0.27×
• Total profit: $-43,723
• Equity at exit: $32,057

10-year hold

• IRR: -14.5%
• Equity multiple: 0.17×
• Total profit: $-49,812
• Equity at exit: $18,589

Cash invested: $60,200 (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 36571

• Home prices YoY: -13.1%
• Active inventory: 173
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,439 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$58 /mo · $691/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-138

Break-even live

Break-even rent $1,613

Max offer price $190,659

Occupancy floor —

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
831 James St Saraland, AL	3.0	1.0	1300	$1,600	$1.23	14d	1	0.61mi
2052 Kali Oka Rd Eight Mile, AL	1.0–3.0	1.0–2.0	1002	$1,612	$1.61	14d	1	1.30mi

Listing history 19 events

1. 2026-06-18
   days on market $215,000 Active 64 DOM
2. 2026-06-17
   days on market $215,000 Active 63 DOM
3. 2026-06-16
   days on market $215,000 Active 62 DOM
4. 2026-06-15
   days on market $215,000 Active 61 DOM
5. 2026-06-14
   days on market $215,000 Active 59 DOM
6. 2026-06-13
   days on market $215,000 Active 58 DOM
7. 2026-06-10
   days on market $215,000 Active 56 DOM
8. 2026-06-09
   days on market $215,000 Active 55 DOM
9. 2026-06-08
   days on market $215,000 Active 54 DOM
10. 2026-06-07
    days on market $215,000 Active 53 DOM
11. 2026-06-03
    days on market $215,000 Active 49 DOM
12. 2026-06-02
    days on market $215,000 Active 48 DOM
13. 2026-06-01
    days on market $215,000 Active 47 DOM
14. 2026-05-31
    days on market $215,000 Active 46 DOM
15. 2026-05-30
    days on market $215,000 Active 45 DOM
16. 2026-05-19
    status Pending 1570-char remark

    Show marketing remark (1570 chars)

    Spacious 4 Bedroom, 2 Bath Home with Bonus Room & Exceptional Outdoor Space! Welcome home to this freshly painted 4-bedroom, 2-bath property offering charm, space, and versatility both inside and out. This inviting home features original restored hardwood floors, along with a blend of tile and carpet in select areas for comfort and function. Elegant crown molding and recessed lighting add a stylish touch throughout the home. The kitchen is equipped with stainless steel appliances, making it both modern and move-in ready. A large bonus room provides flexible space that can be used as playroom, media room, or guest area. Step outside and enjoy the large backyard, perfect for entertaining, relaxing, or creating your own outdoor retreat. Included is a custom-built arbor and an impressive 20x25 metal shed/workshop featuring a 200-amp service, and a concrete floor - ideal for hobbies, storage, or a workshop. Attached to the shed is an additional concrete slab, offering excellent space for extra parking, RV storage, or even a boat. New roof 2017, New HVAC 2025, New Hot Water Heater 2025, Whole House Moisture Barrier Added Underneath Home. Large Utility Room, New Ceiling Fans throughout. Conveniently located near the interstate, parks, and shopping centers, this home combines comfort, functionality, and a great location. A must see with so much to offer! All offers must be accompanied by a pre-approval letter or proof of funds. The buyer and/or buyer’s agent is responsible for verifying all pertinent information related to the property.

17. 2026-04-06
    listed $215,000 Active 1570-char remark

    Show marketing remark (1570 chars)

    Spacious 4 Bedroom, 2 Bath Home with Bonus Room & Exceptional Outdoor Space! Welcome home to this freshly painted 4-bedroom, 2-bath property offering charm, space, and versatility both inside and out. This inviting home features original restored hardwood floors, along with a blend of tile and carpet in select areas for comfort and function. Elegant crown molding and recessed lighting add a stylish touch throughout the home. The kitchen is equipped with stainless steel appliances, making it both modern and move-in ready. A large bonus room provides flexible space that can be used as playroom, media room, or guest area. Step outside and enjoy the large backyard, perfect for entertaining, relaxing, or creating your own outdoor retreat. Included is a custom-built arbor and an impressive 20x25 metal shed/workshop featuring a 200-amp service, and a concrete floor - ideal for hobbies, storage, or a workshop. Attached to the shed is an additional concrete slab, offering excellent space for extra parking, RV storage, or even a boat. New roof 2017, New HVAC 2025, New Hot Water Heater 2025, Whole House Moisture Barrier Added Underneath Home. Large Utility Room, New Ceiling Fans throughout. Conveniently located near the interstate, parks, and shopping centers, this home combines comfort, functionality, and a great location. A must see with so much to offer! All offers must be accompanied by a pre-approval letter or proof of funds. The buyer and/or buyer’s agent is responsible for verifying all pertinent information related to the property.

18. 2016-03-21
    soldstatus $117,308
19. 2009-06-26
    soldstatus $116,765

ⓘ 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: $691 · $58/mo
• Projected year-2 tax: $882 · $73/mo
• Expected delta: +$190/yr (+$16/mo · 27.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $17,269
• − Mortgage interest: −$12,043
• − Property taxes: −$691
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$6,255
• Taxable loss: −$5,558
• Est. tax savings @ 24.0%: +$1,334
• After-tax cash flow: $-320/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: Saraland City
• NCES district ID: 0100185
• Math proficiency: 53% ▼ -16.00%
• Reading proficiency: 71% ▲ 7.00%
• Median HH income: $51,173
• Composite: 52.78/100
• National rank: #1539
• State rank: #6 of 129 in AL

Livability — Saraland

• Score: 68/100
• State rank: #72
• US rank: #9880

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Saraland, AL
• County: Mobile County · 246,577 people
• City population: 17,143
• Metro: Mobile, AL
• Population (ZIP): 17,143
• Household income: $62,047
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 432.0

Population outlook (Mobile County) Hauer SSP2

• Today (2025): 415,303 people
• By 2030: 411,755 · -0.9%
• By 2040: 399,670 · -3.8%
• By 2050: 382,616 · -7.9%
• By 2075: 337,353 · -18.8%
• By 2100: 283,391 · -31.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 16% Two or more races 3%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 1% · China

Political lean MEDSL · Mobile

• 2024 margin: R (+16.4) · D 41.3% · R 57.7%
• 2008→2024 swing: -7.7pp toward R · 2008: -8.7pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+11.9 2016: R+13.9 2012: R+9.3 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.39%
• Current HPI: 247.8527
• Rent YoY: —
• Metro: Mobile, 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

+84.1% since first listed

4 events — show timeline

• 2026-05-19 Pending — GCMLS AL
• 2026-04-06 Listed $215,000 GCMLS AL
• 2016-03-21 Sold (Public Records) $117,308 Public Records
• 2009-06-26 Sold (Public Records) $116,765 Public Records

Property tax history

-5.7%/yr

Latest (2025): $691 · +5.3% YoY. Source: county tax records.