2302 Industrial Ave · Gadsden, AL 35904

$24,900

1 bd · 1.0 ba · 822 sqft · SingleFamily public records · 122 Days on market

Built 1920 6,969 sqft lot $30/sqft · 59% below area ↓ 29% since listing

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

As-is 1 bed, 1 bath home in Gadsden, AL, priced for a cash investor ready for a project. The property is in rough condition and features no heating or air, making it ideal for a full renovation or value-add flip. Great opportunity for experienced investors looking for a low entry point and strong upside. Cash buyers only.

Key facts

• 6,969 sq ft lot
• Built 1920
• Listed 122 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($750 rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $9k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 3.01% ✓
• Cap rate: 27.30%
• Cash-on-cash: 75.02%
• DSCR: 4.34
• GRM: 2.8

CMA / ARV

• ARV (median comp): $60,597
• List price: $24,900
• Delta: -58.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8 Laurel Rd	0.39mi	2/1.0 (+1)	840 (+2%)	1mo	$67,000	$80	72
7 Hinsdale Ave	0.21mi	1/1.0	774 (-6%)	11mo	$74,000	$96	72
8 Peachtree St	0.16mi	2/1.0 (+1)	882 (+7%)	12mo	$69,000	$78	65
42 Wilkinson Ave E	0.60mi	2/2.0 (+1)	920 (+12%)	11mo	$132,500	$144	34
2308 Hill Ave	0.50mi	2/1.0 (+1)	944 (+15%)	21mo	$54,900	$58	29

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: 62.7%
• Equity multiple: 3.80×
• Total profit: $19,536
• Equity at exit: $3,713

10-year hold

• IRR: 67.2%
• Equity multiple: 7.81×
• Total profit: $47,480
• Equity at exit: $2,153

Cash invested: $6,972 (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 35904

• Home prices YoY: -17.1%
• Active inventory: 84
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $750 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$16 /mo · $188/yr
• Insurance: −$10
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $369

Break-even live

Break-even rent $282

Max offer price $24,900

Occupancy floor 46%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 W Tuscaloosa Ave Gadsden, AL	2.0	1.0	1056	$750	$0.71	44d	1	0.52mi
504 Pearl St Gadsden, AL	2.0	1.0	903	$750	$0.83	44d	1	1.32mi

Listing history 13 events

1. 2026-06-07
   statusdays on market $24,900 Pending 122 DOM
2. 2026-06-07
   days on market $24,900 Active 121 DOM
3. 2026-06-04
   days on market $24,900 Active 118 DOM
4. 2026-06-02
   days on market $24,900 Active 117 DOM
5. 2026-06-01
   days on market $24,900 Active 116 DOM
6. 2026-05-31
   days on market $24,900 Active 115 DOM
7. 2026-05-31
   days on market $24,900 Active 114 DOM
8. 2026-04-17
   price $24,900 323-char remark

   Show marketing remark (323 chars)

   As-is 1 bed, 1 bath home in Gadsden, AL, priced for a cash investor ready for a project. The property is in rough condition and features no heating or air, making it ideal for a full renovation or value-add flip. Great opportunity for experienced investors looking for a low entry point and strong upside. Cash buyers only.

9. 2026-03-17
   price $29,000 323-char remark

   Show marketing remark (323 chars)

   As-is 1 bed, 1 bath home in Gadsden, AL, priced for a cash investor ready for a project. The property is in rough condition and features no heating or air, making it ideal for a full renovation or value-add flip. Great opportunity for experienced investors looking for a low entry point and strong upside. Cash buyers only.

10. 2026-02-05
    listed $34,000 Active 323-char remark

    Show marketing remark (323 chars)

    As-is 1 bed, 1 bath home in Gadsden, AL, priced for a cash investor ready for a project. The property is in rough condition and features no heating or air, making it ideal for a full renovation or value-add flip. Great opportunity for experienced investors looking for a low entry point and strong upside. Cash buyers only.

11. 2022-03-04
    soldstatus $20,000 Sold 399-char remark

    Show marketing remark (399 chars)

    Country cottage in the city- tucked away and feels secluded. 1Bedroom/1Bath bungalow house with lots of potential. Large front porch, metal roof, and updated electrical. Needs some minor repairs and finishing. Updated kitchen, roomy living room. and large laundry room. This would make a perfect starter home or rental. Enjoy the creek from your back porch. Selling AS IS.Dont miss this opportunity.

12. 2022-02-08
    status Pending 399-char remark

    Show marketing remark (399 chars)

    Country cottage in the city- tucked away and feels secluded. 1Bedroom/1Bath bungalow house with lots of potential. Large front porch, metal roof, and updated electrical. Needs some minor repairs and finishing. Updated kitchen, roomy living room. and large laundry room. This would make a perfect starter home or rental. Enjoy the creek from your back porch. Selling AS IS.Dont miss this opportunity.

13. 2022-01-29
    listed $34,900 Active 399-char remark

    Show marketing remark (399 chars)

    Country cottage in the city- tucked away and feels secluded. 1Bedroom/1Bath bungalow house with lots of potential. Large front porch, metal roof, and updated electrical. Needs some minor repairs and finishing. Updated kitchen, roomy living room. and large laundry room. This would make a perfect starter home or rental. Enjoy the creek from your back porch. Selling AS IS.Dont miss this opportunity.

ⓘ 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: $188 · $16/mo
• Projected year-2 tax: $188 · $16/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 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,000
• − Mortgage interest: −$1,395
• − Property taxes: −$188
• − Insurance: −$922
• − Repairs & maintenance: −$720
• − Management: −$720
• − Depreciation: −$724
• Taxable income: $4,331
• Est. tax owed @ 24.0%: −$1,039
• After-tax cash flow: $3,394/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 13,571

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.06%
• Current HPI: 213.3981
• 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

-28.7% since first listed

6 events — show timeline

• 2026-04-17 Price Changed $24,900 Greater Alabama MLS
• 2026-03-17 Price Changed $29,000 Greater Alabama MLS
• 2026-02-05 Listed $34,000 Greater Alabama MLS
• 2022-03-04 Sold (MLS) $20,000 VMLS
• 2022-02-08 Pending — VMLS
• 2022-01-29 Listed $34,900 VMLS

Property tax history

+6.1%/yr

Latest (2025): $188 · +0.0% YoY. Source: county tax records.