512 Bullard Cir · Red Bay, AL 35582

$121,000

3 bd · 1.0 ba · 1,174 sqft · SingleFamily public records · 105 Days on market

Built 1964 0.37 ac lot $103/sqft · at area comps Est $127k · at est. ↓ 11% since listing

---

Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +9.7/15.0
• DSCR +5.2/10.0
• Appreciation +5.0/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom, 1-bath home nestled on a peaceful city lot in Red Bay, Al. Whether you're a first-time buyer, an investor, or someone who loves bringing a home back to life, this one is full of opportunity. Step inside and you'll find a layout that offers comfortable living spaces and room to make it your own. With a little TLC, this home has the potential to shine, perfect for anyone looking to add personal touches and create something special. Outside, the city lot provides space for outdoor projects, a garden, or a relaxing backyard hangout. If you been searching for an affordable place with solid bones and big possibilities this house is for you.

Key facts

• Solid bones
• Big possibilities
• Peaceful city lot

Tags

• PEACEFUL CITY LOT
• RELAXING BACKYARD HANGOUT
• SOLID BONES
• BIG POSSIBILITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $121k.

Deal economics

• At list price, monthly cash flow is $74 ($887/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 $99k (18.1% below list).
• Recommended offer: $99k (18.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#194 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: schools D, amenities F, commute F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 24 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $826 of equity ($837 loan paydown + $-11 appreciation (-0.0% local appreciation)).

Negotiation context

• It's been on market 105 days — a 9% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: moderate wind risk, 26% 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 $99,096 (18.1% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.82% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 10.2

CMA / ARV

• ARV (median comp): $127,224
• List price: $121,000
• Delta: -4.89%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
710 8th St SE	0.25mi	3/2.0	1,301 (+11%)	11mo	$80,000	$61	57
1298 Hwy 19	0.33mi	3/2.0	1,303 (+11%)	18mo	$215,000	$165	48
310 4th Ave SE	0.72mi	2/1.0 (-1)	1,236 (+5%)	14mo	$110,000	$89	41
703 SE 10th Ave	0.66mi	2/1.0 (-1)	1,000 (-15%)	5mo	$88,000	$88	35

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

Projected returns pro-forma

-0.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,054
• Equity at exit: $35,082

10-year hold

• IRR: 6.2%
• Equity multiple: 1.67×
• Total profit: $22,540
• Equity at exit: $42,128

Cash invested: $33,880 (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 35582

• Home prices YoY: -0.0%
• Active inventory: 24
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$635
• Tax from tax record: −$24 /mo · $288/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $74

Break-even live

Break-even rent $897

Max offer price $121,000

Occupancy floor 88%

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $121,000 Active 105 DOM
2. 2026-06-18
   days on market $121,000 Active 104 DOM
3. 2026-06-17
   days on market $121,000 Active 103 DOM
4. 2026-06-16
   days on market $121,000 Active 102 DOM
5. 2026-06-15
   days on market $121,000 Active 101 DOM
6. 2026-06-14
   days on market $121,000 Active 99 DOM
7. 2026-06-13
   pricedays on market $121,000 Active 98 DOM
8. 2026-06-10
   days on market $125,000 Active 96 DOM
9. 2026-06-09
   days on market $125,000 Active 95 DOM
10. 2026-06-08
    days on market $125,000 Active 94 DOM
11. 2026-06-07
    days on market $125,000 Active 93 DOM
12. 2026-06-05
    days on market $125,000 Active 90 DOM
13. 2026-06-03
    days on market $125,000 Active 89 DOM
14. 2026-06-02
    days on market $125,000 Active 88 DOM
15. 2026-06-01
    days on market $125,000 Active 87 DOM
16. 2026-05-31
    days on market $125,000 Active 86 DOM
17. 2026-05-30
    days on market $125,000 Active 85 DOM
18. 2026-04-24
    price $125,000 678-char remark

    Show marketing remark (678 chars)

    Welcome to this charming 3-bedroom, 1-bath home nestled on a peaceful city lot in Red Bay, Al. Whether you're a first-time buyer, an investor, or someone who loves bringing a home back to life, this one is full of opportunity. Step inside and you'll find a layout that offers comfortable living spaces and room to make it your own. With a little TLC, this home has the potential to shine, perfect for anyone looking to add personal touches and create something special. Outside, the city lot provides space for outdoor projects, a garden, or a relaxing backyard hangout. If you been searching for an affordable place with solid bones and big possibilities this house is for you.

19. 2026-03-06
    listed $127,000 Active 678-char remark

    Show marketing remark (678 chars)

    Welcome to this charming 3-bedroom, 1-bath home nestled on a peaceful city lot in Red Bay, Al. Whether you're a first-time buyer, an investor, or someone who loves bringing a home back to life, this one is full of opportunity. Step inside and you'll find a layout that offers comfortable living spaces and room to make it your own. With a little TLC, this home has the potential to shine, perfect for anyone looking to add personal touches and create something special. Outside, the city lot provides space for outdoor projects, a garden, or a relaxing backyard hangout. If you been searching for an affordable place with solid bones and big possibilities this house is for you.

20. 2026-01-12
    price $135,000
21. 2025-11-26
    listed $140,000 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: $288 · $24/mo
• Projected year-2 tax: $496 · $41/mo
• Expected delta: +$208/yr (+$17/mo · 72.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $11,892
• − Mortgage interest: −$6,778
• − Property taxes: −$288
• − Insurance: −$605
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$3,520
• Taxable loss: −$1,202
• Est. tax savings @ 24.0%: +$289
• After-tax cash flow: $1,175/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: Franklin County
• NCES district ID: 0101590
• Math proficiency: 17% ▼ -21.00%
• Reading proficiency: 36% ▼ -1.00%
• Median HH income: $37,979
• Composite: 22.08/100
• National rank: #8187
• State rank: #84 of 129 in AL

Livability — Red Bay

• Score: 63/100
• State rank: #194
• US rank: #15693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Bay, AL
• Population (ZIP): 4,507

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 31,545 people
• By 2030: 31,335 · -0.7%
• By 2040: 30,983 · -1.8%
• By 2050: 30,744 · -2.5%
• By 2075: 30,173 · -4.3%
• By 2100: 29,478 · -6.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7% Two or more races 2%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+73.3) · D 13.0% · R 86.2%
• 2008→2024 swing: -34.1pp toward R · 2008: -39.2pp · 2024: -73.3pp
• All cycles: 2024: R+73.3 2020: R+65.9 2016: R+60.8 2012: R+40.5 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.01%
• Current HPI: 172.2008
• 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

-10.7% since first listed

4 events — show timeline

• 2026-04-24 Price Changed $125,000 SAARMLS
• 2026-03-06 Listed $127,000 SAARMLS
• 2026-01-12 Price Changed $135,000 SAARMLS
• 2025-11-26 Listed $140,000 SAARMLS

Property tax history

+60.3%/yr

Latest (2025): $288 · +4.5% YoY. Source: county tax records.