3835 23rd Ct E · Tuscaloosa, AL 35406

$197,900

3 bd · 1.0 ba · 1,362 sqft · SingleFamily public records · 372 Days on market

Built 1986 0.41 ac lot $145/sqft · 53% above area Est $275k · 28% 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 +14.0/30.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

home was recently sold fha move in ready. NEW HEATING AND COOLING UNIT 3 bed 1.5 bath move in ready in a nice older subdivision conveniently located off of Skyland minutes from Walmart and other retail and restaurant

Key facts

• 0.41 acre lot
• 2 parking spots
• Built 1986

Tags

• NEW HEATING AND COOLING UNIT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $25 ($298/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 $152k (23.0% below list).
• Recommended offer: $152k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.4% in Tuscaloosa — 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 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa City (urban): math 19% / reading 40% proficiency, ranked #74 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 266 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• This rent is only 15% of the median local income ($119k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 372 days — a 12% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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: major wind risk, 62% 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 $152,467 (23.0% below list)

Questions for the listing agent

1. It's been on market 372 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.77% ✗
• Cap rate: 6.44%
• Cash-on-cash: 0.54%
• DSCR: 1.02
• GRM: 10.8

CMA / ARV

• ARV (median comp): $275,130
• List price: $197,900
• Delta: -28.07%
• 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
3337 Willow Ridge Ln	0.41mi	3/2.0	1,420 (+4%)	1mo	$212,500	$150	69
3323 Willow Ridge Dr	0.44mi	3/2.0	1,315 (-4%)	1mo	$211,500	$161	69
4325 Henry Rd	0.41mi	4/2.0 (+1)	1,444 (+6%)	1mo	$267,697	$185	61
2620 Sky Dr	0.46mi	3/2.0	1,272 (-7%)	6mo	$265,096	$208	59
2391 Sky Dr	0.52mi	3/2.5	1,272 (-7%)	2mo	$250,000	$197	58
4310 Henry Rd	0.40mi	4/2.0 (+1)	1,497 (+10%)	0mo	$267,900	$179	56
4339 Henry Rd	0.42mi	4/2.0 (+1)	1,497 (+10%)	1mo	$269,900	$180	54
2491 Sky Dr	0.51mi	4/2.0 (+1)	1,444 (+6%)	4mo	$249,900	$173	54
2400 Sky Dr	0.48mi	4/2.0 (+1)	1,504 (+10%)	1mo	$259,896	$173	50
2430 Sky Dr	0.48mi	4/2.0 (+1)	1,497 (+10%)	3mo	$257,900	$172	50
2550 Sky Dr	0.46mi	4/2.0 (+1)	1,497 (+10%)	6mo	$264,890	$177	48
2471 Sky Dr	0.51mi	4/2.0 (+1)	1,497 (+10%)	4mo	$278,096	$186	48

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: -15.5%
• Equity multiple: 0.45×
• Total profit: $-30,582
• Equity at exit: $29,508

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-24,972
• Equity at exit: $17,111

Cash invested: $55,412 (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 35406

• Home prices YoY: -26.7%
• Active inventory: 266
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$1,038
• Tax from tax record: −$59 /mo · $713/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $25

Break-even live

Break-even rent $1,493

Max offer price $197,900

Occupancy floor 93%

Sensitivity live

Price	-10% $137	-5% $81	+0% $25	+5% $-31	+10% $-87
Rent	-10% $-96	-5% $-35	+0% $25	+5% $85	+10% $145
Rate	-1.0pp $124	-0.5pp $75	base $25	+0.5pp $-26	+1.0pp $-79

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: $49,475
• Closing costs: $5,937
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 Henry Rd Tuscaloosa, AL	4.0	2.0	1444	$1,795	$1.24	14d	1	0.39mi
2400 Sky Dr Tuscaloosa, AL	4.0	2.0	1504	$1,695	$1.13	14d	1	0.47mi
4527 18th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	878	$1,249	$1.42	45d	6	0.50mi
2201 48th St E Tuscaloosa, AL	1.0–3.0	1.0–2.0	893	$1,345	$1.51	14d	21	0.67mi
2837 Valley Crest Rd Tuscaloosa, AL	2.0	1.0	1369	$550	$0.40	45d	1	0.73mi
4801 Cypress Creek Ave E Tuscaloosa, AL	1.0–2.0	1.0–1.5	889	$1,009	$1.13	14d	9	0.77mi
3504 12th Ave E Tuscaloosa, AL	2.0	1.0–1.5	1019	$1,037	$1.02	45d	10	0.85mi
5001 Cypress Creek Ave E Tuscaloosa, AL	2.0	1.0–2.0	768	$1,159	$1.51	13d	11	0.86mi
1800 Hargrove East Rd Tuscaloosa, AL	2.0	1.0	950	$875	$0.92	14d	1	0.97mi
5050 Cypress Creek Ave E Tuscaloosa, AL	3.0	1.0–2.0	820	$1,329	$1.62	13d	11	1.00mi
3719 Hargrove Rd E Tuscaloosa, AL	3.0	2.0	1300	$1,150	$0.88	22d	1	1.02mi
123 Circlewood Tuscaloosa, AL	2.0	1.0	1250	$1,150	$0.92	45d	1	1.08mi
713 33rd St E Tuscaloosa, AL	2.0	2.0	1036	$815	$0.79	45d	1	1.15mi
621 E 33rd St Unit D Tuscaloosa, AL	2.0	1.0	1000	$925	$0.93	45d	1	1.20mi
715 Dogwood Ln Tuscaloosa, AL	2.0	1.0	1126	$1,099	$0.98	14d	3	1.21mi
5100 36th Ave E Tuscaloosa, AL	1.0–4.0	1.0–1.5	883	$1,213	$1.37	3d	5	1.31mi
235 James I Harrison Jr Pkwy E Tuscaloosa, AL	1.0–3.0	1.0–2.0	1259	$1,200	$0.95	45d	37	1.48mi

Listing history 25 events

1. 2026-06-21
   days on market $197,900 Active 372 DOM
2. 2026-06-18
   days on market $197,900 Active 369 DOM
3. 2026-06-17
   days on market $197,900 Active 368 DOM
4. 2026-06-16
   days on market $197,900 Active 367 DOM
5. 2026-06-15
   days on market $197,900 Active 366 DOM
6. 2026-06-14
   days on market $197,900 Active 364 DOM
7. 2026-06-13
   days on market $197,900 Active 363 DOM
8. 2026-06-10
   days on market $197,900 Active 361 DOM
9. 2026-06-09
   days on market $197,900 Active 360 DOM
10. 2026-06-08
    days on market $197,900 Active 359 DOM
11. 2026-06-07
    days on market $197,900 Active 358 DOM
12. 2026-06-05
    days on market $197,900 Active 355 DOM
13. 2026-06-03
    days on market $197,900 Active 354 DOM
14. 2026-06-02
    days on market $197,900 Active 353 DOM
15. 2026-06-01
    days on market $197,900 Active 352 DOM
16. 2026-05-31
    days on market $197,900 Active 351 DOM
17. 2026-05-30
    days on market $197,900 Active 350 DOM
18. 2025-12-30
    status Active 216-char remark

    Show marketing remark (216 chars)

    home was recently sold fha move in ready. NEW HEATING AND COOLING UNIT 3 bed 1.5 bath move in ready in a nice older subdivision conveniently located off of Skyland minutes from Walmart and other retail and restaurant

19. 2025-12-19
    status Pending 216-char remark

    Show marketing remark (216 chars)

    home was recently sold fha move in ready. NEW HEATING AND COOLING UNIT 3 bed 1.5 bath move in ready in a nice older subdivision conveniently located off of Skyland minutes from Walmart and other retail and restaurant

20. 2025-06-03
    listed $197,900 Active 216-char remark

    Show marketing remark (216 chars)

    home was recently sold fha move in ready. NEW HEATING AND COOLING UNIT 3 bed 1.5 bath move in ready in a nice older subdivision conveniently located off of Skyland minutes from Walmart and other retail and restaurant

21. 2024-08-30
    soldstatus $185,000 Closed 452-char remark

    Show marketing remark (452 chars)

    This beautiful 3BR/1.5 bath is waiting for it new owners. .. .YOU!This home features a large kitchen combo with lots of natural lighting. This open concept is great for cooking and entertaining. This home is situated on almost an acre of land which makes it ideal for family gatherings and family time! This well established neighborhood is centrally located and minutes from the interstate. Call your favorite agent today. This gem will not last long.

22. 2024-08-02
    status Pending 452-char remark

    Show marketing remark (452 chars)

    This beautiful 3BR/1.5 bath is waiting for it new owners. .. .YOU!This home features a large kitchen combo with lots of natural lighting. This open concept is great for cooking and entertaining. This home is situated on almost an acre of land which makes it ideal for family gatherings and family time! This well established neighborhood is centrally located and minutes from the interstate. Call your favorite agent today. This gem will not last long.

23. 2024-07-30
    listed $175,000 Active 452-char remark

    Show marketing remark (452 chars)

    This beautiful 3BR/1.5 bath is waiting for it new owners. .. .YOU!This home features a large kitchen combo with lots of natural lighting. This open concept is great for cooking and entertaining. This home is situated on almost an acre of land which makes it ideal for family gatherings and family time! This well established neighborhood is centrally located and minutes from the interstate. Call your favorite agent today. This gem will not last long.

24. 2013-10-15
    listed $99,850
25. 2006-10-31
    soldstatus $71,300

ⓘ 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: $713 · $59/mo
• Projected year-2 tax: $811 · $68/mo
• Expected delta: +$98/yr (+$8/mo · 13.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,296
• − Mortgage interest: −$11,085
• − Property taxes: −$713
• − Insurance: −$990
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$5,757
• Taxable loss: −$3,177
• Est. tax savings @ 24.0%: +$762
• After-tax cash flow: $1,060/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: Tuscaloosa City
• NCES district ID: 0103360
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $37,474
• Composite: 24.51/100
• National rank: #7647
• State rank: #74 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscaloosa, AL
• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 18,904
• Household income: $119,250
• Rent vs Own: 23.6% rent · 76.4% own
• Severe rent burden: 415.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 6% Hispanic / Latino 6% Two or more races 5% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 89% English-only · Spanish 5% Chinese 3% Other Indo-European 2%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.51%
• Current HPI: 221.088
• Rent YoY: —
• Metro: Tuscaloosa, 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

+177.6% since first listed

8 events — show timeline

• 2025-12-30 Relisted — Greater Alabama MLS
• 2025-12-19 Pending — Greater Alabama MLS
• 2025-06-03 Listed $197,900 Greater Alabama MLS
• 2024-08-30 Sold (MLS) $185,000 WAMLS
• 2024-08-02 Pending — WAMLS
• 2024-07-30 Listed $175,000 WAMLS
• 2013-10-15 Listed $99,850 WAMLS
• 2006-10-31 Sold (Public Records) $71,300 Public Records

Property tax history

-1.1%/yr

Latest (2025): $713 · -34.1% YoY. Source: county tax records.