24 Smith St · Florence, AL 35630

$162,500

3 bd · 1.0 ba · 1,388 sqft · SingleFamily public records · 59 Days on market

Built 1960 0.26 ac lot $117/sqft · at area comps Est $156k · at est.

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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 +15.3/30.0
• ARV discount +5.6/15.0
• DSCR +4.7/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bath home offering 1,388 square feet of opportunity and potential. This property is perfect for buyers looking to add their personal touch. Inside, you'll find a functional layout with ample living space and natural light throughout. Step outside to a spacious, fully fenced backyard ideal for pets, entertaining, or future improvements. The large deck provides the perfect spot for relaxing or hosting gatherings. Whether you're looking to expand your rental portfolio or create a cozy home with value-add potential, this property is full of possibilities. Don't miss out on this great investment opportunity!

Key facts

• Large deck
• 0.26 acre lot
• Parking

Tags

• FULLY FENCED BACKYARD
• LARGE DECK

Property features AI

Exterior

• Parking: Attached carport with alley access; 1 carport space
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected and available; Cable available; Water connected; Sewer connected
• Home design: Single family residence (residential property)
• Construction: Vinyl siding; Above-grade finished area approximately 1,388
• Exterior features: Deck; Back yard with wire fencing; Paved city street frontage (75 ft frontage)

Interior

• Kitchen: Convection oven; Dishwasher; Electric cooktop and electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms on the main level
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Convection oven; Dishwasher; Electric cooktop and electric range; Microwave; Refrigerator; Electric water heater; Washer; Hardwood flooring
• Laundry & utility: Laundry room with inside electric dryer hookup; Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $162k.

Deal economics

• At list price, monthly cash flow is $60 ($722/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 $129k (20.9% below list).
• Recommended offer: $129k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Hills School (math 39% / reading 65%, grade C-, #102 of 627 statewide, top 17%, 831 students, 45% FRL); Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 270 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• This rent runs 33% of the median local income ($46k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $18k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,502 (20.9% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.79% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

• ARV (median comp): $155,885
• List price: $162,500
• Delta: 4.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29 S Crown St	0.17mi	3/2.0	1,260 (-9%)	8mo	$240,000	$190	66
501 N Fulton St N	0.55mi	3/2.0	1,370 (-1%)	4mo	$174,900	$128	65
309 Wilson Dam Rd	0.51mi	3/2.0	1,458 (+5%)	2mo	$212,000	$145	62
25 S Crown St	0.17mi	3/2.0	1,260 (-9%)	13mo	$247,900	$197	62
101 Auburn St	0.37mi	3/2.0	1,540 (+11%)	1mo	$185,000	$120	59
214 N Weakley St	0.24mi	2/1.0 (-1)	1,240 (-11%)	8mo	$159,500	$129	59
422 N Fulton St	0.53mi	3/2.0	1,312 (-6%)	5mo	$238,000	$181	58
145 E Lakeside Dr	0.71mi	3/2.0	1,410 (+2%)	3mo	$271,000	$192	58
352 Wilson Dam Rd	0.47mi	3/2.0	1,325 (-4%)	13mo	$252,500	$191	56
319 Wilson Dam Rd	0.51mi	3/2.0	1,536 (+11%)	7mo	$209,900	$137	48
201 S Patton St	0.74mi	3/3.5	1,330 (-4%)	9mo	$130,000	$98	41
221 N O'neal St	0.69mi	3/2.0	1,215 (-12%)	9mo	$177,500	$146	35

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.60×
• Total profit: $-18,342
• Equity at exit: $24,229

10-year hold

• IRR: 2.0%
• Equity multiple: 1.16×
• Total profit: $7,206
• Equity at exit: $14,050

Cash invested: $45,500 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 270
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,285 high
• Mortgage (P&I): −$852
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $60

Break-even live

Break-even rent $1,209

Max offer price $162,500

Occupancy floor 90%

Sensitivity live

Price	-10% $152	-5% $106	+0% $60	+5% $14	+10% $-32
Rent	-10% $-41	-5% $9	+0% $60	+5% $111	+10% $162
Rate	-1.0pp $142	-0.5pp $101	base $60	+0.5pp $18	+1.0pp $-25

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3504 Cole Ave Unit B Florence, AL	2.0	1.0	900	$750	$0.83	45d	1	0.31mi
416 N Broadway St Florence, AL	3.0	2.0	1125	$1,450	$1.29	45d	1	0.43mi
200 Foxfield Pl Florence, AL	2.0	2.0	1250	$1,120	$0.90	45d	1	0.63mi
4026 Peachtree St Florence, AL	3.0	2.0	1660	$1,300	$0.78	45d	1	0.63mi
1846 Darby Dr Florence, AL	2.0	2.5	1200	$1,125	$0.94	45d	5	1.25mi
1975 Darby Dr Florence, AL	1.0–2.0	1.0–1.5	997	$815	$0.82	45d	2	1.47mi

Listing history 20 events

1. 2026-06-22
   days on market $162,500 Active 59 DOM
2. 2026-06-21
   days on market $162,500 Active 58 DOM
3. 2026-06-19
   days on market $162,500 Active 56 DOM
4. 2026-06-18
   days on market $162,500 Active 55 DOM
5. 2026-06-17
   days on market $162,500 Active 54 DOM
6. 2026-06-16
   days on market $162,500 Active 53 DOM
7. 2026-06-15
   days on market $162,500 Active 52 DOM
8. 2026-06-14
   days on market $162,500 Active 50 DOM
9. 2026-06-13
   pricedays on market $162,500 Active 49 DOM
10. 2026-06-10
    days on market $170,000 Active 47 DOM
11. 2026-06-09
    days on market $170,000 Active 46 DOM
12. 2026-06-08
    days on market $170,000 Active 45 DOM
13. 2026-06-05
    days on market $170,000 Active 41 DOM
14. 2026-06-02
    days on market $170,000 Active 39 DOM
15. 2026-06-01
    days on market $170,000 Active 38 DOM
16. 2026-05-31
    days on market $170,000 Active 37 DOM
17. 2026-05-30
    days on market $170,000 Active 36 DOM
18. 2026-05-12
    price $170,000 632-char remark
19. 2026-04-24
    listed $180,000 Active 632-char remark
20. 2017-04-17
    listed $79,000

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $666 · $56/mo
• Expected delta: +$245/yr (+$20/mo · 58.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,420
• − Mortgage interest: −$9,103
• − Property taxes: −$422
• − Insurance: −$812
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$4,727
• Taxable loss: −$2,111
• Est. tax savings @ 24.0%: +$507
• After-tax cash flow: $1,229/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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+105.7% since first listed

4 events — show timeline

• 2026-06-11 Price Changed $162,500 SAARMLS
• 2026-05-12 Price Changed $170,000 SAARMLS
• 2026-04-24 Listed $180,000 SAARMLS
• 2017-04-17 Listed $79,000 SAARMLS

Property tax history

+8.4%/yr

Latest (2025): $422 · +8.0% YoY. Source: county tax records.