300 Mcmillan Ave · Bay Minette, AL 36507

$289,900

16 bd · 16.0 ba · 3,466 sqft · MultiFamily public records · 77 Days on market

Built 1930 0.34 ac lot $84/sqft · 6% above area Est $274k · 6% over

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +4.8/15.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Attention Investors: Rare opportunity to purchase a multi-family unit in Bay Minette. This quadplex is in a great location directly across from the Kid's Park and pickle ball courts at McMillan Ave/W3rd Street. Each unit is a one bedroom/one bath. New roof installed in Jan of 2022. Fresh exterior paint job in June of 2024. All inside/outside HVAC's have been replaced by current owner: Apt A in Aug of 2024, Apt B in Sept of 2022, Apt C in May of 2022 and Apt D in June of 2023. All units are occupied. Buyer to verify all information during due diligence.

Key facts

• Hvac replaced
• Pickle ball courts
• Great location

Tags

• MULTI-FAMILY UNIT
• GREAT LOCATION
• PICKLE BALL COURTS
• NEW ROOF
• FRESH EXTERIOR PAINT
• HVAC REPLACED

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $290k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive. Per door: $475/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $290k).
• Recommended offer: $273k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 3.9% in Bay Minette — 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 63/100 on livability (#179 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety A; Watch: crime D+, schools D-, amenities F.
• 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: 206 active listings in the ZIP; 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 $9k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $81k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; list at $290k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $272,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
8. Crime grade is D 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?
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: 1.59% ✓
• Cap rate: 14.16%
• Cash-on-cash: 28.10%
• DSCR: 2.25
• GRM: 5.3

CMA / ARV

• ARV (median comp): $273,776
• List price: $289,900
• Delta: 5.89%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 22.2%
• Equity multiple: 1.91×
• Total profit: $73,976
• Equity at exit: $43,225

10-year hold

• IRR: 30.3%
• Equity multiple: 3.71×
• Total profit: $219,894
• Equity at exit: $25,065

Cash invested: $81,172 (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 36507

• Home prices YoY: -7.2%
• Active inventory: 206
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $4,600 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$92 /mo · $1,108/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $1,901

Break-even live

Break-even rent $2,194

Max offer price $289,900

Occupancy floor 54%

Sensitivity live

Price	-10% $2,065	-5% $1,983	+0% $1,901	+5% $1,819	+10% $1,736
Rent	-10% $1,537	-5% $1,719	+0% $1,901	+5% $2,082	+10% $2,264
Rate	-1.0pp $2,047	-0.5pp $1,974	base $1,901	+0.5pp $1,825	+1.0pp $1,749

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,600
Total (4 units)			$4,600

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $289,900 Active 77 DOM
2. 2026-06-18
   days on market $289,900 Active 76 DOM
3. 2026-06-17
   days on market $289,900 Active 75 DOM
4. 2026-06-16
   days on market $289,900 Active 74 DOM
5. 2026-06-15
   days on market $289,900 Active 73 DOM
6. 2026-06-14
   days on market $289,900 Active 71 DOM
7. 2026-06-13
   days on market $289,900 Active 70 DOM
8. 2026-06-10
   days on market $289,900 Active 68 DOM
9. 2026-06-09
   days on market $289,900 Active 67 DOM
10. 2026-06-08
    days on market $289,900 Active 66 DOM
11. 2026-06-07
    days on market $289,900 Active 65 DOM
12. 2026-06-05
    days on market $289,900 Active 62 DOM
13. 2026-06-03
    days on market $289,900 Active 61 DOM
14. 2026-06-02
    days on market $289,900 Active 60 DOM
15. 2026-06-01
    days on market $289,900 Active 59 DOM
16. 2026-05-31
    days on market $289,900 Active 58 DOM
17. 2026-05-30
    days on market $289,900 Active 57 DOM
18. 2026-05-05
    price $289,900 558-char remark

    Show marketing remark (558 chars)

    Attention Investors: Rare opportunity to purchase a multi-family unit in Bay Minette. This quadplex is in a great location directly across from the Kid's Park and pickle ball courts at McMillan Ave/W3rd Street. Each unit is a one bedroom/one bath. New roof installed in Jan of 2022. Fresh exterior paint job in June of 2024. All inside/outside HVAC's have been replaced by current owner: Apt A in Aug of 2024, Apt B in Sept of 2022, Apt C in May of 2022 and Apt D in June of 2023. All units are occupied. Buyer to verify all information during due diligence.

19. 2026-04-03
    listed $299,900 Active 558-char remark

    Show marketing remark (558 chars)

    Attention Investors: Rare opportunity to purchase a multi-family unit in Bay Minette. This quadplex is in a great location directly across from the Kid's Park and pickle ball courts at McMillan Ave/W3rd Street. Each unit is a one bedroom/one bath. New roof installed in Jan of 2022. Fresh exterior paint job in June of 2024. All inside/outside HVAC's have been replaced by current owner: Apt A in Aug of 2024, Apt B in Sept of 2022, Apt C in May of 2022 and Apt D in June of 2023. All units are occupied. Buyer to verify all information during due diligence.

20. 2021-08-20
    soldstatus $90,000

ⓘ 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: $1,108 · $92/mo
• Projected year-2 tax: $1,189 · $99/mo
• Expected delta: +$80/yr (+$7/mo · 7.2%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,200
• − Mortgage interest: −$16,239
• − Property taxes: −$1,108
• − Insurance: −$1,450
• − Repairs & maintenance: −$4,416
• − Management: −$4,416
• − Depreciation: −$8,433
• Taxable income: $19,138
• Est. tax owed @ 24.0%: −$4,593
• After-tax cash flow: $18,214/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 — Bay Minette

• Score: 63/100
• State rank: #179
• US rank: #15153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bay Minette, AL
• Population (ZIP): 20,350

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 (71%)
• Race & ethnicity: White 71% Black 23% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

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: ▼ -25.62%
• Current HPI: 329.316
• 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

+222.1% since first listed

3 events — show timeline

• 2026-05-05 Price Changed $289,900 BCAR
• 2026-04-03 Listed $299,900 BCAR
• 2021-08-20 Sold (Public Records) $90,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,108 · +50.2% YoY. Source: county tax records.