420 Ivanhoe Dr · Selma, AL 36701

$149,900

3 bd · 1.0 ba · 2,168 sqft · SingleFamily public records · 45 Days on market

Built 1980 0.32 ac lot $69/sqft · 19% below area Est $185k · 19% under ↓ 9% since listing

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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 +10.8/30.0
• DSCR +3.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3 bedrooms 2 baths home is a great investment. Need some repairs and some TLC with great possibilities . The property has a very large lot with a 2 car attacked carport, a great room with wood burning fireplace, formal Living and dining combo. The kitchen has a breakfast nearby nook area. Use your creativity to make this house a HOME

Key facts

• Breakfast nook
• Large lot
• 0.32 acre lot

Tags

• LARGE LOT
• WOOD BURNING FIREPLACE
• BREAKFAST NOOK

Property features AI

Exterior

• Parking: Attached carport; 2 carport spaces
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story; Brick construction; Slab foundation
• Construction: Brick exterior
• Exterior features: City lot; Paved road; Outdoor storage

Interior

• Kitchen: Gas range; Electric water heater
• Flooring: Carpet; Plank; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric cooling
• Interior features: Fireplace (1); Storage
• Laundry & utility: Washer hookup; Dryer hookup

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 $-68 ($-816/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (27.7% below list).
• Recommended offer: $108k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 7.5% in Selma — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 56/100 on livability (#407 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools F, crime F, amenities F.
• Selma City (town): math 2% / reading 23% proficiency, ranked #118 of 129 in AL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 104 active listings in the ZIP; 7 units permitted in Dallas 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.
• Dallas County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,308 (27.7% 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 45 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.72% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 11.5

CMA / ARV

• ARV (median comp): $185,293
• List price: $149,900
• Delta: -19.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 Wright Dr	0.05mi	3/2.0	2,171 (+0%)	1mo	$96,000	$44	92
215 W Castlewood Dr	0.20mi	4/2.0 (+1)	2,084 (-4%)	5mo	$198,000	$95	72
109 Lashley Dr	0.30mi	3/2.0	2,082 (-4%)	12mo	$190,000	$91	65
225 W Castlewood Dr	0.20mi	4/2.0 (+1)	2,348 (+8%)	14mo	$210,000	$89	56
311 Old Marion Junction Rd	0.24mi	4/2.0 (+1)	1,908 (-12%)	10mo	$229,500	$120	51
107 Moores Ferry Rd	0.22mi	3/2.0	1,864 (-14%)	22mo	$240,000	$129	44
328 Moores Ferry Rd	0.46mi	3/2.0	2,468 (+14%)	10mo	$239,900	$97	43

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: -19.6%
• Equity multiple: 0.32×
• Total profit: $-28,674
• Equity at exit: $22,351

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-30,761
• Equity at exit: $12,961

Cash invested: $41,972 (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 36701

• Home prices YoY: -6.3%
• Active inventory: 104
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,083 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$75 /mo · $901/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $-68

Break-even live

Break-even rent $1,169

Max offer price $137,886

Occupancy floor —

Sensitivity live

Price	-10% $17	-5% $-26	+0% $-68	+5% $-110	+10% $-153
Rent	-10% $-154	-5% $-111	+0% $-68	+5% $-25	+10% $18
Rate	-1.0pp $7	-0.5pp $-30	base $-68	+0.5pp $-107	+1.0pp $-146

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $149,900 Active 45 DOM
2. 2026-06-18
   days on market $149,900 Active 44 DOM
3. 2026-06-17
   days on market $149,900 Active 43 DOM
4. 2026-06-16
   days on market $149,900 Active 42 DOM
5. 2026-06-15
   days on market $149,900 Active 41 DOM
6. 2026-06-14
   days on market $149,900 Active 39 DOM
7. 2026-06-12
   pricedays on market $149,900 Active 38 DOM
8. 2026-06-09
   days on market $153,000 Active 35 DOM
9. 2026-06-08
   days on market $153,000 Active 34 DOM
10. 2026-06-07
    days on market $153,000 Active 33 DOM
11. 2026-06-07
    days on market $153,000 Active 32 DOM
12. 2026-06-04
    days on market $153,000 Active 29 DOM
13. 2026-06-02
    days on market $153,000 Active 28 DOM
14. 2026-06-01
    days on market $153,000 Active 27 DOM
15. 2026-05-31
    days on market $153,000 Active 26 DOM
16. 2026-05-31
    days on market $153,000 Active 25 DOM
17. 2026-05-05
    listed $153,000 Active 341-char remark
18. 2018-05-27
    listed $170,000
19. 2017-11-12
    listed $180,000
20. 2015-07-20
    soldstatus $153,000
21. 2007-06-15
    soldstatus $165,000

ⓘ 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: $901 · $75/mo
• Projected year-2 tax: $901 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,997
• − Mortgage interest: −$8,397
• − Property taxes: −$901
• − Insurance: −$750
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$4,361
• Taxable loss: −$3,491
• Est. tax savings @ 24.0%: +$838
• After-tax cash flow: $22/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: Selma City
• NCES district ID: 0102970
• Math proficiency: 2% ▼ -24.00%
• Reading proficiency: 23% ▼ -2.00%
• Median HH income: $23,380
• Composite: 9.07/100
• National rank: #9870
• State rank: #118 of 129 in AL

Livability — Selma

• Score: 56/100
• State rank: #407
• US rank: #22550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Selma, AL
• Population (ZIP): 22,358

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 35,464 people
• By 2030: 32,631 · -8.0%
• By 2040: 27,246 · -23.2%
• By 2050: 22,691 · -36.0%
• By 2075: 14,867 · -58.1%
• By 2100: 10,285 · -71.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 28% Hispanic / Latino 2%
• Common ancestry: Serbian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Dallas

• 2024 margin: Solid D (+32.5) · D 65.9% · R 33.4%
• 2008→2024 swing: -2.0pp toward R · 2008: 34.5pp · 2024: 32.5pp
• All cycles: 2024: D+32.5 2020: D+37.5 2016: D+37.6 2012: D+39.7 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.98%
• Current HPI: 176.6034
• 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

-9.2% since first listed

6 events — show timeline

• 2026-06-11 Price Changed $149,900 MAAR
• 2026-05-05 Listed $153,000 MAAR
• 2018-05-27 Listed $170,000 MAAR
• 2017-11-12 Listed $180,000 MAAR
• 2015-07-20 Sold (Public Records) $153,000 Public Records
• 2007-06-15 Sold (Public Records) $165,000 Public Records

Property tax history

+9.3%/yr

Latest (2023): $901 · +4.0% YoY. Source: county tax records.