174 Joe Walading Dr · Midland City, AL 36350

$139,900

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 42 Days on market

Built 2006 0.31 ac lot $112/sqft · 20% below area Est $176k · 20% under ↓ 1% since listing

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don't miss your chance to own a solid home at an affordable price point.

Key facts

• Large backyard
• Storage building
• 0.31 acre lot

Tags

• LARGE BACKYARD
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#143 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Dale County (rural): math 31% / reading 50% proficiency, ranked #26 of 129 in AL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Dale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($967 loan paydown + $14k appreciation (10.0% local appreciation)).
• Dale County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.79% ✓
• Cap rate: 16.14%
• Cash-on-cash: 35.18%
• DSCR: 2.57
• GRM: 4.7

CMA / ARV

• ARV (median comp): $175,763
• List price: $139,900
• Delta: -20.40%
• 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
268 Halie Dr	0.16mi	3/2.0	1,256 (+1%)	7mo	$153,000	$122	82
59 Cotton Dr	0.14mi	3/2.0	1,238 (-1%)	15mo	$154,000	$124	76
327 Halie Dr	0.20mi	3/2.0	1,300 (+4%)	13mo	$172,500	$133	68
969 Hinton Waters Ave	0.36mi	3/2.0	1,264 (+1%)	15mo	$164,000	$130	64
61 Magnolia St	0.45mi	3/2.0	1,361 (+9%)	4mo	$209,000	$154	57
177 3rd St	0.36mi	3/2.0	1,400 (+12%)	7mo	$234,900	$168	53
115 Gardenia St	0.37mi	3/2.0	1,428 (+14%)	9mo	$199,000	$139	47
223 Daniel St	0.73mi	3/2.0	1,248 (0%)	21mo	$150,000	$120	44
162 Dale Cir	0.44mi	4/2.0 (+1)	1,404 (+12%)	10mo	$118,000	$84	41
127 Brookline St	0.41mi	2/1.0 (-1)	1,077 (-14%)	18mo	$35,000	$32	38
100 Huey	0.71mi	3/1.0	1,075 (-14%)	11mo	$135,000	$126	35
94 Huey St	0.71mi	2/2.0 (-1)	1,100 (-12%)	22mo	$125,000	$114	20

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 51.2%
• Equity multiple: 4.81×
• Total profit: $149,278
• Equity at exit: $126,033

10-year hold

• IRR: 44.9%
• Equity multiple: 10.75×
• Total profit: $381,991
• Equity at exit: $271,795

Cash invested: $39,172 (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 36350

• Home prices YoY: 8.0%
• Active inventory: 75
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $1,148

Break-even live

Break-even rent $1,047

Max offer price $139,900

Occupancy floor 49%

Sensitivity live

Price	-10% $1,227	-5% $1,188	+0% $1,148	+5% $1,109	+10% $1,069
Rent	-10% $951	-5% $1,050	+0% $1,148	+5% $1,247	+10% $1,346
Rate	-1.0pp $1,219	-0.5pp $1,184	base $1,148	+0.5pp $1,112	+1.0pp $1,075

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Joe Walding Dr Midland City, AL	3.0	2.0	1238	$2,500	$2.02	44d	1	0.13mi

Listing history 20 events

1. 2026-06-09
   status $139,900 Pending 42 DOM
2. 2026-06-08
   days on market $139,900 Active 42 DOM
3. 2026-06-07
   days on market $139,900 Active 41 DOM
4. 2026-06-05
   days on market $139,900 Active 38 DOM
5. 2026-06-03
   pricedays on market $139,900 Active 37 DOM
6. 2026-06-03
   price $149,900 Active 36 DOM
7. 2026-06-02
   days on market $152,900 Active 36 DOM
8. 2026-06-01
   days on market $152,900 Active 35 DOM
9. 2026-05-31
   days on market $152,900 Active 34 DOM
10. 2026-05-30
    days on market $152,900 Active 33 DOM
11. 2026-05-12
    status Pending 603-char remark

    Show marketing remark (609 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don’t miss your chance to own a solid home at an affordable price point.

12. 2026-05-12
    status Pending 609-char remark

    Show marketing remark (609 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don’t miss your chance to own a solid home at an affordable price point.

13. 2026-05-07
    price $152,900 603-char remark

    Show marketing remark (603 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don't miss your chance to own a solid home at an affordable price point.

14. 2026-04-16
    listed $154,900 Active 603-char remark

    Show marketing remark (609 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don’t miss your chance to own a solid home at an affordable price point.

15. 2026-04-16
    listed $154,900 Active 609-char remark

    Show marketing remark (609 chars)

    Welcome to this well-maintained 3-bedroom, 2-bath home offering over 1,200 sq ft of comfortable living space in Midland City. The functional layout includes a bright living area, practical kitchen, and spacious bedrooms designed for everyday living. Step outside to enjoy a large backyard complete with a storage building—perfect for extra space or hobbies. This home is move-in ready with room to add your personal touches, making it a great opportunity for first-time buyers, downsizers, or investors. Priced to sell—don’t miss your chance to own a solid home at an affordable price point.

16. 2026-04-03
    status Active
17. 2026-02-14
    status Pending
18. 2026-01-28
    listed $154,900 Active
19. 2025-03-07
    price $144,000
20. 2025-02-05
    listed $154,500 Active

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $574 · $48/mo
• Expected delta: +$156/yr (+$13/mo · 37.3%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $30,000
• − Mortgage interest: −$7,837
• − Property taxes: −$418
• − Insurance: −$700
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,070
• Taxable income: $12,176
• Est. tax owed @ 24.0%: −$2,922
• After-tax cash flow: $10,857/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: Dale County
• NCES district ID: 0101050
• Math proficiency: 31% ▼ -29.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $42,949
• Composite: 34.16/100
• National rank: #5277
• State rank: #26 of 129 in AL

Livability — Midland City

• Score: 65/100
• State rank: #143
• US rank: #13549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland City, AL
• Population (ZIP): 7,675

Population outlook (Dale County) Hauer SSP2

• Today (2025): 46,805 people
• By 2030: 45,176 · -3.5%
• By 2040: 41,523 · -11.3%
• By 2050: 37,575 · -19.7%
• By 2075: 28,931 · -38.2%
• By 2100: 22,172 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 23% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Dale

• 2024 margin: Solid R (+52.3) · D 23.5% · R 75.8%
• 2008→2024 swing: -7.7pp toward R · 2008: -44.6pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+46.3 2016: R+50.4 2012: R+42.2 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.34%
• Current HPI: 219.7326
• 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

-1.0% since first listed

10 events — show timeline

• 2026-05-12 Pending — SAMLS
• 2026-05-12 Pending — WBR
• 2026-05-07 Price Changed $152,900 SAMLS
• 2026-04-16 Listed $154,900 SAMLS
• 2026-04-16 Listed $154,900 WBR
• 2026-04-03 Relisted — SAMLS
• 2026-02-14 Pending — SAMLS
• 2026-01-28 Listed $154,900 SAMLS
• 2025-03-07 Price Changed $144,000 SAMLS
• 2025-02-05 Listed $154,500 SAMLS

Property tax history

+3.5%/yr

Latest (2025): $418 · +5.8% YoY. Source: county tax records.