6929 Spaniel Dr Unit C · Spanish Fort, AL 36527

$250,000

8 bd · 7.0 ba · 1,783 sqft · Condo public records · 77 Days on market

Built 2018 $382/mo HOA · 17% 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).

• Cash flow +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• Rent growth +4.1/5.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Backing up to a peaceful wooded backdrop, this beautifully upgraded Gold Fortified, energy-efficient townhome offers true low-maintenance living. Inside, you’ll find 3 bedrooms, 2.5 baths, soaring 9-foot ceilings, and a bright open floor plan. The stylish kitchen features granite countertops, a classic subway tile backsplash, upgraded white cabinetry, stainless steel appliances, and a pantry enhanced with a built-in spice rack—plus the refrigerator conveys. Luxury vinyl plank flooring flows throughout the entire home with no carpet, complemented by elegant crown molding and thoughtful touches like motion-sensor stair, closet and laundry room lighting for added safety. Storage and organization shine with custom wood shelving in the primary and secondary bedroom closets, a laundry room storage hook with wooden shelving, and an attached private garage complete with ceiling racks, built-in cabinets, shelving, pegboards, and a shoe rack. Step outside to a relaxing * Freshly Stained * back porch overlooking the woods, upgraded light fixture, and a storage container remain for the next owner to enjoy. Additional bonuses include a SimpliSafe security system, Ring doorbell, raised garden bed with a potted fig tree, and even a custom trash-can cover. The HOA makes life easy by covering the community pool, pavilion and bathrooms, landscaping, termite bond, exterior building insurance (excluding windows and doors), and professional property management. Just minutes from I-10, less than 15 minutes to Mobile, and close to boat launches, Blakely State Park, shopping, dining, and everyday conveniences—this move-in-ready home truly has it all. Schedule your showing today before it’s gone! Buyer to verify all information during due diligence.

Key facts

• 2 garage spots
• Community pool
• Built 2018

What this means for you Summary

Snapshot

• This is a 8-bed/7.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-36 ($-435/yr) — negative.
• To cash-flow at today's rent, offer at most $244k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (7.4% below list).
• Recommended offer: $231k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.5% in Spanish Fort — 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 73/100 on livability (#26 in AL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• 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.
• Market conditions: Rents rising fast (+6.5%/yr); 332 active listings in the ZIP; high-income renter base; 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 $2k of loan paydown is wiped out by about $8k 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 77 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $231,494 (7.4% 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 77 days. Have you received any prior offers? Is the seller open to a 7% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.52% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-34,213
• Equity at exit: $37,276

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $5,167
• Equity at exit: $21,615

Cash invested: $70,000 (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 36527

• Home prices YoY: -14.4%
• Rents YoY: 6.5%
• Active inventory: 332
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,315 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$68 /mo · $815/yr
• Insurance: −$104
• HOA: −$382
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $-36

Break-even live

Break-even rent $2,361

Max offer price $243,592

Occupancy floor 97%

Sensitivity live

Price	-10% $105	-5% $34	+0% $-36	+5% $-107	+10% $-178
Rent	-10% $-219	-5% $-128	+0% $-36	+5% $55	+10% $147
Rate	-1.0pp $90	-0.5pp $27	base $-36	+0.5pp $-101	+1.0pp $-167

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $382 · $4,584/yr
• Likely covers: trashlandscapinginsurancepoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   pricedays on market $250,000 Active 77 DOM
2. 2026-06-19
   days on market $259,000 Active 75 DOM
3. 2026-06-18
   days on market $259,000 Active 74 DOM
4. 2026-06-17
   days on market $259,000 Active 73 DOM
5. 2026-06-16
   days on market $259,000 Active 72 DOM
6. 2026-06-15
   days on market $259,000 Active 71 DOM
7. 2026-06-14
   days on market $259,000 Active 69 DOM
8. 2026-06-13
   days on market $259,000 Active 68 DOM
9. 2026-06-10
   days on market $259,000 Active 66 DOM
10. 2026-06-09
    days on market $259,000 Active 65 DOM
11. 2026-06-08
    days on market $259,000 Active 64 DOM
12. 2026-06-07
    days on market $259,000 Active 63 DOM
13. 2026-06-05
    days on market $259,000 Active 60 DOM
14. 2026-06-03
    days on market $259,000 Active 59 DOM
15. 2026-06-02
    days on market $259,000 Active 58 DOM
16. 2026-06-01
    days on market $259,000 Active 57 DOM
17. 2026-05-31
    days on market $259,000 Active 56 DOM
18. 2026-05-30
    days on market $259,000 Active 55 DOM
19. 2026-04-05
    listed $259,000 Active 1780-char remark

    Show marketing remark (1780 chars)

    Backing up to a peaceful wooded backdrop, this beautifully upgraded Gold Fortified, energy-efficient townhome offers true low-maintenance living. Inside, you’ll find 3 bedrooms, 2.5 baths, soaring 9-foot ceilings, and a bright open floor plan. The stylish kitchen features granite countertops, a classic subway tile backsplash, upgraded white cabinetry, stainless steel appliances, and a pantry enhanced with a built-in spice rack—plus the refrigerator conveys. Luxury vinyl plank flooring flows throughout the entire home with no carpet, complemented by elegant crown molding and thoughtful touches like motion-sensor stair, closet and laundry room lighting for added safety. Storage and organization shine with custom wood shelving in the primary and secondary bedroom closets, a laundry room storage hook with wooden shelving, and an attached private garage complete with ceiling racks, built-in cabinets, shelving, pegboards, and a shoe rack. Step outside to a relaxing * Freshly Stained * back porch overlooking the woods, upgraded light fixture, and a storage container remain for the next owner to enjoy. Additional bonuses include a SimpliSafe security system, Ring doorbell, raised garden bed with a potted fig tree, and even a custom trash-can cover. The HOA makes life easy by covering the community pool, pavilion and bathrooms, landscaping, termite bond, exterior building insurance (excluding windows and doors), and professional property management. Just minutes from I-10, less than 15 minutes to Mobile, and close to boat launches, Blakely State Park, shopping, dining, and everyday conveniences—this move-in-ready home truly has it all. Schedule your showing today before it’s gone! Buyer to verify all information during due diligence.

20. 2026-03-15
    historical $259,000 1780-char remark

    Show marketing remark (1780 chars)

    Backing up to a peaceful wooded backdrop, this beautifully upgraded Gold Fortified, energy-efficient townhome offers true low-maintenance living. Inside, you’ll find 3 bedrooms, 2.5 baths, soaring 9-foot ceilings, and a bright open floor plan. The stylish kitchen features granite countertops, a classic subway tile backsplash, upgraded white cabinetry, stainless steel appliances, and a pantry enhanced with a built-in spice rack—plus the refrigerator conveys. Luxury vinyl plank flooring flows throughout the entire home with no carpet, complemented by elegant crown molding and thoughtful touches like motion-sensor stair, closet and laundry room lighting for added safety. Storage and organization shine with custom wood shelving in the primary and secondary bedroom closets, a laundry room storage hook with wooden shelving, and an attached private garage complete with ceiling racks, built-in cabinets, shelving, pegboards, and a shoe rack. Step outside to a relaxing * Freshly Stained * back porch overlooking the woods, upgraded light fixture, and a storage container remain for the next owner to enjoy. Additional bonuses include a SimpliSafe security system, Ring doorbell, raised garden bed with a potted fig tree, and even a custom trash-can cover. The HOA makes life easy by covering the community pool, pavilion and bathrooms, landscaping, termite bond, exterior building insurance (excluding windows and doors), and professional property management. Just minutes from I-10, less than 15 minutes to Mobile, and close to boat launches, Blakely State Park, shopping, dining, and everyday conveniences—this move-in-ready home truly has it all. Schedule your showing today before it’s gone! Buyer to verify all information during due diligence.

ⓘ 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: $815 · $68/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$210/yr (+$18/mo · 25.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,779
• − Mortgage interest: −$14,004
• − Property taxes: −$815
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,222
• − Management: −$2,222
• − HOA: −$4,584
• − Depreciation: −$7,273
• Taxable loss: −$4,591
• Est. tax savings @ 24.0%: +$1,102
• After-tax cash flow: $666/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 — Spanish Fort

• Score: 73/100
• State rank: #26
• US rank: #5408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Fort, AL
• County: Baldwin County · 181,514 people
• City population: 21,765
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 21,765
• Household income: $120,189
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 378.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 8% Black 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -39.56%
• Current HPI: 234.5113
• Rent YoY: ▲ 6.52%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-05 Listed $259,000 BCAR
• 2026-03-15 Coming Soon $259,000 BCAR

Property tax history

+38.7%/yr

Latest (2025): $815 · +42.8% YoY. Source: county tax records.