132 W Satsuma Ave #132 · Foley, AL 36535

$139,900

2 bd · 2.0 ba · 1,023 sqft · Condo public records · 140 Days on market

Built 1985 $137/sqft · 16% below area Est $167k · 16% under $280/mo HOA · 18% of rent

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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 +19.0/30.0
• ARV discount +14.8/15.0
• 1% rule +6.3/10.0
• DSCR +6.0/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Reduced 2-Bedroom Condo in Foley | $158,000 Don’t miss this freshly painted well-priced 2-bedroom condo in the heart of Foley, offering comfortable living and easy access to everything the Gulf Coast has to offer — only minutes to the Gulf of Mexico. Short term and long term rental is allowed in this condo. There is storage close outside the condo. This inviting unit features vaulted ceilings that create an open, airy feel, along with no carpet throughout. Durable tile and vinyl flooring make it both stylish and low-maintenance. The property is well maintained by the HOA. Also the HOA provides, trash, water and cable and high speed internet. The functional kitchen comes fully equipped — all appliances convey, making this a truly move-in-ready opportunity There are two appointed parking spaces. Conveniently located near shopping, dining, OWA, and entertainment, with Gulf Shores and Orange Beach just a short drive away. Affordable, updated, and ideally located — this is Gulf Coast living at a great value. Buyer to verify all information during due diligence.

Key facts

• Vinyl flooring
• Move-in-ready
• No carpet

Tags

• VAULTED CEILINGS
• NO CARPET
• DURABLE TILE
• VINYL FLOORING
• FULLY EQUIPPED KITCHEN
• MOVE-IN-READY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $145 ($2k/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: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.0% in Foley — 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 61/100 on livability (#241 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: schools D+, employment D+, amenities 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.
• Market conditions: Rents rising (+1.8%/yr); 875 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $967 of loan paydown is wiped out by about $4k 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 140 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $30k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; 49% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
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: 1.13% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 7.4

CMA / ARV

• ARV (median comp): $166,979
• List price: $139,900
• Delta: -16.22%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-15,182
• Equity at exit: $20,860

10-year hold

• IRR: -3.4%
• Equity multiple: 0.79×
• Total profit: $-8,364
• Equity at exit: $12,096

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 36535

• Home prices YoY: -24.9%
• Rents YoY: 1.8%
• Active inventory: 875
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,581 high
• Mortgage (P&I): −$734
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$58
• HOA: −$280
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $145

Break-even live

Break-even rent $1,397

Max offer price $139,900

Occupancy floor 86%

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
134 W Satsuma Ave Foley, AL	2.0	2.0	1000	$1,400	$1.40	44d	1	0.02mi
1128 N Alston St Foley, AL	2.0	2.0	1008	$1,600	$1.59	21d	1	0.07mi
801 N Pine St Foley, AL	2.0	1.0	1041	$1,695	$1.63	44d	1	0.42mi
1802 Cashew Cir Foley, AL	2.0–5.0	2.0–2.5	1702	$1,850	$1.09	44d	1	0.83mi
104 E Laurel Ave Foley, AL	1.0	1.0	766	$1,000	$1.31	44d	1	0.96mi
116 S Elm St Unit 116 Foley, AL	3.0	2.0	1125	$1,350	$1.20	44d	1	1.26mi
503 S Cedar St Foley, AL	2.0	2.0	1200	$1,600	$1.33	44d	1	1.36mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: watertrashinternetcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $139,900 Active 140 DOM
2. 2026-06-18
   days on market $139,900 Active 139 DOM
3. 2026-06-17
   days on market $139,900 Active 138 DOM
4. 2026-06-16
   days on market $139,900 Active 137 DOM
5. 2026-06-15
   days on market $139,900 Active 136 DOM
6. 2026-06-14
   days on market $139,900 Active 134 DOM
7. 2026-06-13
   days on market $139,900 Active 133 DOM
8. 2026-06-10
   days on market $139,900 Active 131 DOM
9. 2026-06-09
   days on market $139,900 Active 130 DOM
10. 2026-06-08
    days on market $139,900 Active 129 DOM
11. 2026-06-07
    days on market $139,900 Active 128 DOM
12. 2026-06-05
    days on market $139,900 Active 125 DOM
13. 2026-06-03
    days on market $139,900 Active 124 DOM
14. 2026-06-02
    pricedays on market $139,900 Active 123 DOM
15. 2026-06-01
    days on market $158,000 Active 122 DOM
16. 2026-05-31
    days on market $158,000 Active 121 DOM
17. 2026-05-30
    days on market $158,000 Active 120 DOM
18. 2026-03-26
    price $158,000 1097-char remark

    Show marketing remark (1097 chars)

    Reduced 2-Bedroom Condo in Foley | $158,000 Don’t miss this freshly painted well-priced 2-bedroom condo in the heart of Foley, offering comfortable living and easy access to everything the Gulf Coast has to offer — only minutes to the Gulf of Mexico. Short term and long term rental is allowed in this condo. There is storage close outside the condo. This inviting unit features vaulted ceilings that create an open, airy feel, along with no carpet throughout. Durable tile and vinyl flooring make it both stylish and low-maintenance. The property is well maintained by the HOA. Also the HOA provides, trash, water and cable and high speed internet. The functional kitchen comes fully equipped — all appliances convey, making this a truly move-in-ready opportunity There are two appointed parking spaces. Conveniently located near shopping, dining, OWA, and entertainment, with Gulf Shores and Orange Beach just a short drive away. Affordable, updated, and ideally located — this is Gulf Coast living at a great value. Buyer to verify all information during due diligence.

19. 2026-03-17
    price $169,500 1097-char remark

    Show marketing remark (1097 chars)

    Reduced 2-Bedroom Condo in Foley | $158,000 Don’t miss this freshly painted well-priced 2-bedroom condo in the heart of Foley, offering comfortable living and easy access to everything the Gulf Coast has to offer — only minutes to the Gulf of Mexico. Short term and long term rental is allowed in this condo. There is storage close outside the condo. This inviting unit features vaulted ceilings that create an open, airy feel, along with no carpet throughout. Durable tile and vinyl flooring make it both stylish and low-maintenance. The property is well maintained by the HOA. Also the HOA provides, trash, water and cable and high speed internet. The functional kitchen comes fully equipped — all appliances convey, making this a truly move-in-ready opportunity There are two appointed parking spaces. Conveniently located near shopping, dining, OWA, and entertainment, with Gulf Shores and Orange Beach just a short drive away. Affordable, updated, and ideally located — this is Gulf Coast living at a great value. Buyer to verify all information during due diligence.

20. 2026-01-30
    listed $169,999 Active 1097-char remark

    Show marketing remark (1097 chars)

    Reduced 2-Bedroom Condo in Foley | $158,000 Don’t miss this freshly painted well-priced 2-bedroom condo in the heart of Foley, offering comfortable living and easy access to everything the Gulf Coast has to offer — only minutes to the Gulf of Mexico. Short term and long term rental is allowed in this condo. There is storage close outside the condo. This inviting unit features vaulted ceilings that create an open, airy feel, along with no carpet throughout. Durable tile and vinyl flooring make it both stylish and low-maintenance. The property is well maintained by the HOA. Also the HOA provides, trash, water and cable and high speed internet. The functional kitchen comes fully equipped — all appliances convey, making this a truly move-in-ready opportunity There are two appointed parking spaces. Conveniently located near shopping, dining, OWA, and entertainment, with Gulf Shores and Orange Beach just a short drive away. Affordable, updated, and ideally located — this is Gulf Coast living at a great value. Buyer to verify all information during due diligence.

21. 2021-08-11
    soldstatus $94,000 146-char remark

    Show marketing remark (146 chars)

    2 Bedroom 2 Bathroom located in heart of Foley. Just minutes away from OWA and Beaches. Don't let this pass you by. Won't last long at this price.

22. 2021-03-04
    listed $95,000 146-char remark

    Show marketing remark (146 chars)

    2 Bedroom 2 Bathroom located in heart of Foley. Just minutes away from OWA and Beaches. Don't let this pass you by. Won't last long at this price.

23. 2011-01-21
    soldstatus $23,000
24. 2011-01-11
    soldstatus $23,000
25. 2010-06-29
    listed $29,900
26. 2006-12-21
    soldstatus $88,400

ⓘ 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: $377 · $31/mo
• Projected year-2 tax: $574 · $48/mo
• Expected delta: +$196/yr (+$16/mo · 52.0%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,967
• − Mortgage interest: −$7,837
• − Property taxes: −$377
• − Insurance: −$700
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − HOA: −$3,360
• − Depreciation: −$4,070
• Taxable loss: −$411
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $1,842/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 — Foley

• Score: 61/100
• State rank: #241
• US rank: #17616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Foley, AL
• County: Baldwin County · 181,514 people
• City population: 40,628
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 40,628
• Household income: $66,714
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 803.0

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% Hispanic / Latino 10% Two or more races 8% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Chinese 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: ▼ -86.82%
• Current HPI: 262.2796
• Rent YoY: ▲ 1.81%
• 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

+78.7% since first listed

9 events — show timeline

• 2026-03-26 Price Changed $158,000 BCAR
• 2026-03-17 Price Changed $169,500 BCAR
• 2026-01-30 Listed $169,999 BCAR
• 2021-08-11 Sold (MLS) $94,000 BCAR
• 2021-03-04 Listed $95,000 BCAR
• 2011-01-21 Sold (Public Records) $23,000 Public Records
• 2011-01-11 Sold (MLS) $23,000 BCAR
• 2010-06-29 Listed $29,900 BCAR
• 2006-12-21 Sold (Public Records) $88,400 Public Records

Property tax history

+2.0%/yr

Latest (2025): $377 · -4.2% YoY. Source: county tax records.