500 Grant St Unit C210 · Daphne, AL 36526

$155,000

2 bd · 1.5 ba · 873 sqft · Condo public records · 45 Days on market

Built 1983 $178/sqft · 14% above area Est $136k · 14% over $21/mo HOA · 2% of rent

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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).

• Cash flow +16.6/30.0
• DSCR +5.1/10.0
• 1% rule +4.0/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +1.2/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

Key facts

• Covered deck
• Induction stove
• Walk-in closet

Tags

• COVERED DECK
• WALK-IN CLOSET
• GRANITE COUNTER TOPS
• WINE WRACKS
• INDUCTION STOVE
• FULL COUNTERTOP BAR

Property features AI

Finance

• HOA & community: Annual association fee of $250; HOA covers association management, common area insurance, grounds maintenance, pest control, common area taxes, trash, and pool; Association transfer fees apply

Exterior

• Parking: Assigned parking
• Utilities: Daphne Utilities and Riviera Utilities available; Total electric service
• Home design: Attached condo; One story; Resale property; No unit above (no one above)
• Construction: Brick construction; Slab foundation; Composition roof; Condominium ownership
• Exterior features: Covered patio/porch; Balcony (approx. 8 x 10); Community/association pool (outdoor); Few trees on grounds

Interior

• Kitchen: Dishwasher; Convection oven; Cooktop; Wine cooler; Electric water heater
• Bedrooms: Primary bedroom on the main level with walk-in closet; Primary bedroom approx. 13 x 12; Second bedroom approx. 11 x 9
• Flooring: Carpet; Tile
• Bathrooms: One full bathroom; One half bathroom; Primary bathroom with separate shower
• Heating & cooling: Electric heating; Central electric cooling; Coastal Green Air cooling
• Interior features: Ceiling fans; No fireplace; Storage space; Living and dining open to the kitchen (living/dining/kitchen combo)
• Laundry & utility: Stacked washer/dryer included; Laundry located outside (building/common area)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/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 $139k (10.4% below list).
• Recommended offer: $139k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 3.9% in Daphne — 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 75/100 on livability (#18 in AL, #3,949 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Daphne Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 693 students, 53% FRL); Daphne Middle School (math 25% / reading 62%, grade D, #45 of 257 statewide, top 18%, 846 students, 45% FRL); Daphne High School (math 41% / reading 40%, grade F, #33 of 305 statewide, top 11%, 1,725 students, 40% FRL).
• Market conditions: Rents rising (+1.7%/yr); 600 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y 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.
• Current owner paid $134k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,837 (10.4% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.58%
• DSCR: 1.11
• GRM: 9.3

CMA / ARV

• ARV (median comp): $135,941
• List price: $155,000
• Delta: 14.02%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -13.6%
• Equity multiple: 0.52×
• Total profit: $-20,962
• Equity at exit: $23,111

10-year hold

• IRR: -6.8%
• Equity multiple: 0.59×
• Total profit: $-17,748
• Equity at exit: $13,402

Cash invested: $43,400 (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 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 600
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$813
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$65
• HOA: −$21
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $93

Break-even live

Break-even rent $1,270

Max offer price $155,000

Occupancy floor 88%

Sensitivity live

Price	-10% $181	-5% $137	+0% $93	+5% $49	+10% $6
Rent	-10% $-16	-5% $38	+0% $93	+5% $148	+10% $203
Rate	-1.0pp $171	-0.5pp $133	base $93	+0.5pp $53	+1.0pp $12

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Grant St Daphne, AL	2.0	1.0–1.5	876	$1,300	$1.48	45d	2	0.03mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	23d	1	0.07mi
29100 N Main St Daphne, AL	1.0–2.0	1.0–2.0	576	$1,300	$2.26	45d	1	0.13mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,473	$1.55	15d	10	0.66mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	23d	1	0.72mi
2200 E Bay Dr Daphne, AL	1.0–2.0	1.0–2.0	925	$1,360	$1.47	23d	7	0.82mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	15d	24	1.14mi

HOA detail condo

• Monthly dues: $21 · $252/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-09
   status $155,000 Pending 45 DOM
2. 2026-06-08
   days on market $155,000 Active 45 DOM
3. 2026-06-07
   days on market $155,000 Active 44 DOM
4. 2026-06-05
   days on market $155,000 Active 41 DOM
5. 2026-06-03
   days on market $155,000 Active 40 DOM
6. 2026-06-02
   days on market $155,000 Active 39 DOM
7. 2026-06-01
   days on market $155,000 Active 38 DOM
8. 2026-05-31
   days on market $155,000 Active 37 DOM
9. 2026-05-30
   days on market $155,000 Active 36 DOM
10. 2026-04-24
    listed $155,000 Active 804-char remark
11. 2026-04-23
    historical $1,295
12. 2026-04-02
    listed $1,295
13. 2026-03-10
    historical $1,295
14. 2025-12-23
    listed $1,295
15. 2024-07-26
    historical $1,195
16. 2024-04-10
    listed $1,195
17. 2024-04-10
    historical $1,195
18. 2024-03-13
    listed $1,195
19. 2023-08-22
    historical
20. 2023-05-25
    soldstatus $134,000
21. 2023-05-22
    soldstatus $134,000 Closed 634-char remark

    Show marketing remark (634 chars)

    * * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

22. 2023-05-05
    status Pending 634-char remark

    Show marketing remark (634 chars)

    * * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

23. 2023-03-22
    price $139,900 634-char remark

    Show marketing remark (634 chars)

    * * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

24. 2023-03-09
    price $147,900 634-char remark

    Show marketing remark (634 chars)

    * * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

25. 2023-02-09
    listed $149,900 Active 634-char remark

    Show marketing remark (634 chars)

    * * * Big Price Reduction ($10k) and the property is now vacant and easy to view anytime! * * * Great location and Better price!  This unit is newly renovated from top to bottom!  New paint throughout, flooring, beautifully remodeled kitchen, new barn door in the master, and many more extras.   Did I mention there is a peaceful covered porch just off the living room and a community pool? This unit is in a quiet community and located just minutes from I10 and only a short drive to Downtown Mobile.   There is no other unit on the market this nice and at this price so schedule a showing today!

26. 2022-10-20
    soldstatus $124,000
27. 2020-03-26
    soldstatus $80,000
28. 2020-03-25
    soldstatus $80,000

    Show marketing remark (421 chars)

    Don't miss out on this fabulous buy on a 2 bedroom 1 1/2 bath condo. Unit has been very well maintained and features a galley kitchen equipped with self-cleaning like new stove, new 9 inch deep double sink, new disposal, new faucet, microwave, dishwasher and refrigerator. Full size washer/dryer hookup. Master bedroom offers oversized closet with separate vanity area. All new carpet in living room and both bedrooms.

29. 2003-09-05
    soldstatus $49,000

ⓘ 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: $1,261 · $105/mo
• Projected year-2 tax: $1,261 · $105/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,660
• − Mortgage interest: −$8,682
• − Property taxes: −$1,261
• − Insurance: −$775
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − HOA: −$252
• − Depreciation: −$4,509
• Taxable loss: −$1,485
• Est. tax savings @ 24.0%: +$356
• After-tax cash flow: $1,476/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Daphne

• Score: 75/100
• State rank: #18
• US rank: #3949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daphne, AL
• County: Baldwin County · 181,514 people
• City population: 36,484
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 36,484
• Household income: $88,750
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 535.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.47%
• Current HPI: 227.2692
• Rent YoY: ▲ 1.72%
• Metro: Daphne-Fairhope-Foley, 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

+216.3% since first listed

21 events — show timeline

• 2026-06-08 Pending — BCAR
• 2026-04-24 Listed $155,000 BCAR
• 2026-04-23 Rental Removed $1,295 APPFOLIO
• 2026-04-02 Listed for Rent $1,295 APPFOLIO
• 2026-03-10 Rental Removed $1,295 BCAR
• 2025-12-23 Listed for Rent $1,295 BCAR
• 2024-07-26 Rental Removed $1,195 APPFOLIO
• 2024-04-10 Listed for Rent $1,195 APPFOLIO
• 2024-04-10 Rental Removed $1,195 APPFOLIO
• 2024-03-13 Listed for Rent $1,195 APPFOLIO
• 2023-08-22 Rental Removed — APPFOLIO
• 2023-05-25 Sold (Public Records) $134,000 Public Records
• 2023-05-22 Sold (MLS) $134,000 BCAR
• 2023-05-05 Pending — BCAR
• 2023-03-22 Price Changed $139,900 BCAR
• 2023-03-09 Price Changed $147,900 BCAR
• 2023-02-09 Listed $149,900 BCAR
• 2022-10-20 Sold (Public Records) $124,000 Public Records
• 2020-03-26 Sold (Public Records) $80,000 Public Records
• 2020-03-25 Sold (MLS) $80,000 GCMLS AL
• 2003-09-05 Sold (Public Records) $49,000 Public Records

Property tax history

+9.8%/yr

Latest (2025): $1,261 · +125.9% YoY. Source: county tax records.