2697 24th St · Tuscaloosa, AL 35401

$115,000

3 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 178 Days on market

Built 1961 6,534 sqft lot $105/sqft · 12% below area Est $131k · 12% under

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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 +26.0/30.0
• ARV discount +13.1/15.0
• DSCR +8.7/10.0
• 1% rule +5.9/10.0
• Rent growth +4.1/5.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

Key facts

• 6,534 sq ft lot
• Built 1961
• Listed 178 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Rents rising fast (+6.3%/yr); 306 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• At $1,255/mo this rent would consume 52% of the median local household income ($29k/yr) (locally 3997% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $8k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 56% 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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 1961 — 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. 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. 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: 1.09% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.63%
• DSCR: 1.47
• GRM: 7.6

CMA / ARV

• ARV (median comp): $131,258
• List price: $115,000
• Delta: -12.39%
• 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
2409 Ty Rogers Jr Ave	0.03mi	3/1.0	1,050 (-4%)	18mo	$110,000	$105	76
2832 26th St	0.22mi	3/1.0	1,120 (+2%)	16mo	$125,900	$112	73
2826 24th St	0.18mi	3/2.0	1,112 (+2%)	22mo	$190,000	$171	67
3009 Short 19th	0.43mi	3/1.5	1,145 (+4%)	8mo	$66,122	$58	64
3018 20th St	0.43mi	2/1.0 (-1)	1,062 (-3%)	10mo	$60,000	$56	61
2622 20th St	0.35mi	2/2.0 (-1)	1,164 (+6%)	8mo	$40,900	$35	58
2921 23rd St	0.27mi	3/1.5	984 (-10%)	21mo	$75,000	$76	51
1608 Ty Rogers Jr. Ave	0.51mi	3/1.0	1,172 (+7%)	20mo	$65,000	$55	48
1927 M L K Jr Blvd	0.55mi	3/1.0	1,008 (-8%)	22mo	$65,000	$64	43
2815 18th ST St	0.43mi	3/1.5	1,218 (+11%)	21mo	$9,500	$8	42
1712 18th St	0.69mi	3/2.0	974 (-11%)	6mo	$30,000	$31	40
1707 28th Ave	0.47mi	4/2.0 (+1)	1,260 (+15%)	9mo	$189,900	$151	36

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 · 6.29% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.12×
• Total profit: $3,786
• Equity at exit: $17,147

10-year hold

• IRR: 15.2%
• Equity multiple: 2.41×
• Total profit: $45,388
• Equity at exit: $9,943

Cash invested: $32,200 (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 35401

• Rents YoY: 6.3%
• Active inventory: 306
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$603
• Tax from tax record: −$55 /mo · $665/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $285

Break-even live

Break-even rent $894

Max offer price $115,000

Occupancy floor 72%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2712 22nd St Tuscaloosa, AL	4.0	2.0	1008	$1,000	$0.99	43d	1	0.13mi
2683 21st St Tuscaloosa, AL	3.0	1.0	1324	$895	$0.68	21d	1	0.14mi
2720 21st St Tuscaloosa, AL	4.0	1.0	1148	$1,100	$0.96	21d	1	0.17mi
2825 25th St Tuscaloosa, AL	2.0	1.0	708	$835	$1.18	43d	1	0.21mi
1505 18th St Tuscaloosa, AL	2.0	2.0	700	$1,000	$1.43	43d	1	0.74mi
3524 20th St Tuscaloosa, AL	3.0	1.0	1050	$1,100	$1.05	43d	1	0.82mi
3560 21st St Tuscaloosa, AL	3.0	2.0	1230	$1,570	$1.28	21d	1	0.83mi
2405 Herman Ave Tuscaloosa, AL	4.0	1.0	971	$1,100	$1.13	43d	1	0.85mi
3316 16th St Tuscaloosa, AL	3.0	1.0	1120	$1,100	$0.98	13d	1	0.89mi
13 Meadowlawn Tuscaloosa, AL	3.0	1.5	1260	$1,100	$0.87	43d	1	0.90mi
2209 9th St #401 Tuscaloosa, AL	2.0	2.0	1304	$1,650	$1.27	43d	1	1.07mi
3008 7th St Tuscaloosa, AL	2.0	1.0	840	$900	$1.07	43d	1	1.10mi
3416 36th Ct Tuscaloosa, AL	3.0	2.0	1206	$1,395	$1.16	43d	1	1.11mi
900 Hargrove Rd Tuscaloosa, AL	1.0–2.0	1.0–2.0	836	$1,089	$1.30	43d	1	1.14mi
711 36th Ave Tuscaloosa, AL	2.0	1.0	920	$900	$0.98	13d	1	1.22mi
1805 8th Ave Tuscaloosa, AL	1.0–2.0	1.0–2.0	1175	$1,380	$1.17	43d	1	1.30mi
1925 8th Ave Tuscaloosa, AL	1.0–2.0	1.0	794	$1,054	$1.33	13d	1	1.31mi
917 Homewood Dr Tuscaloosa, AL	3.0	3.0	1500	$3,600	$2.40	43d	1	1.34mi
1510 9th St #113 Tuscaloosa, AL	2.0	2.0	1025	$1,625	$1.59	21d	1	1.35mi
3809 Millcreek Ln Tuscaloosa, AL	3.0	1.5	1289	$1,395	$1.08	43d	1	1.38mi
1915 6th Ave Tuscaloosa, AL	2.0	2.5	1290	$1,195	$0.93	21d	1	1.43mi

Listing history 32 events

1. 2026-06-18
   days on market $115,000 Active 178 DOM
2. 2026-06-17
   days on market $115,000 Active 177 DOM
3. 2026-06-16
   days on market $115,000 Active 176 DOM
4. 2026-06-15
   days on market $115,000 Active 175 DOM
5. 2026-06-14
   days on market $115,000 Active 173 DOM
6. 2026-06-13
   days on market $115,000 Active 172 DOM
7. 2026-06-10
   days on market $115,000 Active 170 DOM
8. 2026-06-09
   days on market $115,000 Active 169 DOM
9. 2026-06-08
   days on market $115,000 Active 168 DOM
10. 2026-06-07
    days on market $115,000 Active 167 DOM
11. 2026-06-05
    days on market $115,000 Active 164 DOM
12. 2026-06-03
    days on market $115,000 Active 163 DOM
13. 2026-06-02
    days on market $115,000 Active 162 DOM
14. 2026-06-01
    days on market $115,000 Active 161 DOM
15. 2026-05-31
    days on market $115,000 Active 160 DOM
16. 2026-05-30
    days on market $115,000 Active 159 DOM
17. 2026-05-04
    price $115,000 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

18. 2026-05-01
    price $112,500 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

19. 2026-05-01
    price $1,125,000 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

20. 2026-03-16
    price $115,000 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

21. 2026-02-09
    price $119,900 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

22. 2025-12-22
    listed $123,000 Active 179-char remark

    Show marketing remark (179 chars)

    Check out this charming property with 3 bedrooms and 1 bathroom in Tuscaloosa. This house has granite counter-tops, LVT flooring, newly painted, a brand-new HVAC and so much more!

23. 2024-09-20
    listed $123,000 Active
24. 2023-07-11
    soldstatus $121,000
25. 2023-05-16
    soldstatus $45,000
26. 2023-05-11
    soldstatus $45,000 Closed
27. 2023-05-11
    soldstatus $45,000 Sold
28. 2023-04-23
    status Pending
29. 2023-04-23
    status Pending
30. 2023-03-28
    listed $65,000 Active
31. 2023-03-28
    listed $65,000 Active
32. 2021-11-12
    soldstatus $48,100

ⓘ 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: $665 · $55/mo
• Projected year-2 tax: $665 · $55/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $15,063
• − Mortgage interest: −$6,442
• − Property taxes: −$665
• − Insurance: −$575
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$3,345
• Taxable income: $1,625
• Est. tax owed @ 24.0%: −$390
• After-tax cash flow: $3,032/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): 43,459
• Household income: $29,152
• Rent vs Own: 73.0% rent · 27.0% own
• Severe rent burden: 3997.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 47% White 44% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% Chinese 1%

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: ▼ -191.40%
• Current HPI: 179.8335
• Rent YoY: ▲ 6.29%
• 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

+139.1% since first listed

16 events — show timeline

• 2026-05-04 Price Changed $115,000 WAMLS
• 2026-05-01 Price Changed $112,500 WAMLS
• 2026-05-01 Price Changed $1,125,000 WAMLS
• 2026-03-16 Price Changed $115,000 WAMLS
• 2026-02-09 Price Changed $119,900 WAMLS
• 2025-12-22 Listed $123,000 WAMLS
• 2024-09-20 Listed $123,000 WAMLS
• 2023-07-11 Sold (Public Records) $121,000 Public Records
• 2023-05-16 Sold (Public Records) $45,000 Public Records
• 2023-05-11 Sold (MLS) $45,000 Greater Alabama MLS
• 2023-05-11 Sold (MLS) $45,000 WAMLS
• 2023-04-23 Pending — Greater Alabama MLS
• 2023-04-23 Pending — WAMLS
• 2023-03-28 Listed $65,000 Greater Alabama MLS
• 2023-03-28 Listed $65,000 WAMLS
• 2021-11-12 Sold (Public Records) $48,100 Public Records

Property tax history

+2.4%/yr

Latest (2025): $665 · +7.0% YoY. Source: county tax records.