10204 Lamonica Ln #8 · Fairhope, AL 36532

$396,558

4 bd · 2.0 ba · 1,979 sqft · SingleFamily · 78 Days on market

Built 2026 Excellent condition 0.37 ac lot Garage $73/mo HOA · 3% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Condition / age +4.8/5.0
• Cash flow +4.0/30.0
• Livability +3.8/5.0
• Rent growth +3.2/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Introducing 10204 Lamonica Lane, a breathtaking single-story new home located in our new South Bend Village community of Fairhope, Alabama. Showcasing 4 spacious bedrooms, 2 bathrooms, and approximately 1,979 square feet, this home exudes comfort and functionality. Situated on a larger lot in the neighborhood towards the front entrance, this home backs up directly to the stunning pond, allowing your daily atmosphere to be as serene as it is convenient. Furthermore, it’s located directly across the street from the sparkling resort-style pool and mail kiosk.

Key facts

• Across from pool
• Slab countertops
• Larger lot

Tags

• LARGER LOT
• BACKS UP TO POND
• ACROSS FROM POOL
• CHEF INSPIRED KITCHEN
• SLAB COUNTERTOPS
• PENINSULA ISLAND

🏗️ New construction. The $396,558 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $464,484.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $397k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $251k (36.6% below list).
• Recommended offer: $251k (36.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#15 in AL, #3,577 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, 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: J Larry Newton School (math 45% / reading 70%, grade C+, #74 of 627 statewide, top 12%, 827 students, 50% FRL); Fairhope Middle School (math 54% / reading 75%, grade A-, #3 of 257 statewide, top 1%, 777 students, 33% FRL); Fairhope High School (math 43% / reading 46%, grade F, #22 of 305 statewide, top 8%, 1,629 students, 31% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents rising (+3.0%/yr); 859 active listings in the ZIP; solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 34% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 78 days — a 6% lower offer ($373k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $251,221 (36.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 A-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?
7. 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?
8. 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.
9. 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.
10. 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: 0.54% ✗
• Cap rate: 2.94%
• Cash-on-cash: -11.98%
• DSCR: 0.47
• GRM: 15.4

CMA / ARV

• ARV (median comp): $464,484
• List price: $396,558
• Delta: -14.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10212 Lamonica Ln #8	0.01mi	4/2.0	1,791 (-10%)	0mo	$349,700	$195	84
10186 Lamonica Ln	0.06mi	4/2.0	1,791 (-10%)	0mo	$349,900	$195	81
10162 Lamonica Ln	0.06mi	4/2.0	1,791 (-10%)	2mo	$315,900	$176	80
10128 Grove Dr	0.12mi	3/2.0 (-1)	2,011 (+2%)	10mo	$525,000	$261	78
14942 State Highway 181	0.68mi	3/2.0 (-1)	1,972 (-0%)	4mo	$394,500	$200	59
10624 Pecan Dr	0.70mi	3/2.5 (-1)	1,973 (-0%)	2mo	$480,000	$243	58
14142 Pecan Ln	0.17mi	3/2.0 (-1)	2,217 (+12%)	14mo	$472,000	$213	55
10210 County Road 24	0.70mi	3/2.0 (-1)	1,733 (-12%)	3mo	$403,000	$233	39
10170 County Road 24	0.69mi	3/3.0 (-1)	2,267 (+15%)	1mo	$385,000	$170	33
9766 County Road 24	0.70mi	3/3.5 (-1)	2,273 (+15%)	11mo	$992,500	$437	22

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -38.4%
• Equity multiple: -0.21×
• Total profit: $-157,999
• Equity at exit: $69,256

10-year hold

• IRR: -58.1%
• Equity multiple: -0.88×
• Total profit: $-244,239
• Equity at exit: $40,160

Cash invested: $130,056 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 4 active · 6 under contract
• Months of supply: 2.4 mo (42%/mo absorbed)
• Median asking: $352,326 ($206/sqft)
• Median days on market: 158 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +14.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36532

• Rents YoY: 3.0%
• Active inventory: 859
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $2,512 medium
• Mortgage (P&I): −$2,436
• Tax est. 1.5%: −$581 /mo · $6,967/yr
• Insurance: −$194
• HOA: −$73
• Vacancy / Maint / Mgmt: −$528
• Net cashflow: $-1,298

Break-even live

Break-even rent $4,156

Max offer price $276,619

Occupancy floor —

Sensitivity live

Price	-10% $-977	-5% $-1,138	+0% $-1,298	+5% $-1,459	+10% $-1,619
Rent	-10% $-1,497	-5% $-1,398	+0% $-1,298	+5% $-1,199	+10% $-1,100
Rate	-1.0pp $-1,064	-0.5pp $-1,180	base $-1,298	+0.5pp $-1,419	+1.0pp $-1,541

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: $116,121
• Closing costs: $13,935
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Directions available to property
• HOA & community: Annual association fee of $880 covering association management, common area insurance, and grounds maintenanceTransfer fees applyOutdoor community pool

Exterior

• Parking: Attached double garage with automatic garage door (2 covered spaces)Garage dimensions approx. 19'8" x 23'2"
• Utilities: Water: Robertsdale UtilitiesElectric: Baldwin EMC
• Home design: One-story new constructionWhole/Full ownership
• Construction: Built with concrete board and hardboard; Fortified-Gold constructionSlab foundationComposition roofBuilding area reported as 1,979 square feet (builder source)
• Exterior features: Less than 1 acre lot with few treesNo waterfrontCommunity pool

Interior

• Kitchen: DishwasherDisposalMicrowaveElectric rangeCooktop
• Bedrooms: Primary bedroom on main level with attached bath and multiple walk-in closetsBedroom 2 (approx. 13.5 x 11.5)Bedroom 3 (approx. 10.8 x 13.0)Bedroom 4 (approx. 11.0 x 12.3)
• Bathrooms: Two full bathroomsPrimary bathroom with double vanity, shower only, and private water closet
• Heating & cooling: Central electric cooling
• Interior features: No fireplaceCovered rear porch
• Laundry & utility: Laundry on main levelUtility room (approx. 7'2" x 6'5")

HOA detail $73/mo · $876/yr

• Likely covers: pool

Listing history 50 events

1. 2026-08-08
   days on market $396,558 Active 78 DOM
2. 2026-08-07
   days on market $396,558 Active 77 DOM
3. 2026-08-06
   days on market $396,558 Active 76 DOM
4. 2026-08-05
   days on market $396,558 Active 75 DOM
5. 2026-08-04
   days on market $396,558 Active 74 DOM
6. 2026-08-03
   days on market $396,558 Active 73 DOM
7. 2026-07-31
   days on market $396,558 Active 70 DOM
8. 2026-07-30
   statusdays on market $396,558 Active 69 DOM
9. 2026-07-29
   days on market $396,558 Active New Construction 68 DOM
10. 2026-07-27
    days on market $396,558 Active New Construction 66 DOM
11. 2026-07-25
    days on market $396,558 Active New Construction 64 DOM
12. 2026-07-24
    days on market $396,558 Active New Construction 63 DOM
13. 2026-07-23
    days on market $396,558 Active New Construction 62 DOM
14. 2026-07-22
    days on market $396,558 Active New Construction 61 DOM
15. 2026-07-21
    days on market $396,558 Active New Construction 60 DOM
16. 2026-07-18
    days on market $396,558 Active New Construction 57 DOM
17. 2026-07-16
    days on market $396,558 Active New Construction 55 DOM
18. 2026-07-16
    days on market $396,558 Active New Construction 54 DOM
19. 2026-07-14
    days on market $396,558 Active New Construction 53 DOM
20. 2026-07-13
    days on market $396,558 Active New Construction 52 DOM
21. 2026-07-12
    days on market $396,558 Active New Construction 51 DOM
22. 2026-07-11
    days on market $396,558 Active New Construction 50 DOM
23. 2026-07-10
    days on market $396,558 Active New Construction 49 DOM
24. 2026-07-09
    days on market $396,558 Active New Construction 48 DOM
25. 2026-07-08
    days on market $396,558 Active New Construction 47 DOM
26. 2026-07-07
    days on market $396,558 Active New Construction 46 DOM
27. 2026-07-06
    days on market $396,558 Active New Construction 45 DOM
28. 2026-07-05
    days on market $396,558 Active New Construction 44 DOM
29. 2026-07-04
    days on market $396,558 Active New Construction 43 DOM
30. 2026-07-03
    days on market $396,558 Active New Construction 42 DOM
31. 2026-07-02
    days on market $396,558 Active New Construction 41 DOM
32. 2026-07-01
    days on market $396,558 Active New Construction 40 DOM
33. 2026-06-30
    days on market $396,558 Active New Construction 39 DOM
34. 2026-06-29
    days on market $396,558 Active New Construction 38 DOM
35. 2026-06-28
    days on market $396,558 Active New Construction 37 DOM
36. 2026-06-28
    days on market $396,558 Active New Construction 36 DOM
37. 2026-06-27
    days on market $396,558 Active New Construction 35 DOM
38. 2026-06-25
    days on market $396,558 Active New Construction 33 DOM
39. 2026-06-23
    days on market $396,558 Active New Construction 31 DOM
40. 2026-06-21
    days on market $396,558 Active New Construction 30 DOM
41. 2026-06-19
    days on market $396,558 Active New Construction 28 DOM
42. 2026-06-18
    days on market $396,558 Active New Construction 27 DOM
43. 2026-06-17
    days on market $396,558 Active New Construction 26 DOM
44. 2026-06-16
    days on market $396,558 Active New Construction 25 DOM
45. 2026-06-15
    days on market $396,558 Active New Construction 24 DOM
46. 2026-06-14
    pricedays on market $396,558 Active New Construction 22 DOM
47. 2026-06-13
    days on market $395,085 Active New Construction 21 DOM
48. 2026-06-10
    days on market $395,085 Active New Construction 19 DOM
49. 2026-06-09
    days on market $395,085 Active New Construction 18 DOM
50. 2026-06-08
    days on market $395,085 Active New Construction 17 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,147
• − Mortgage interest: −$26,018
• − Property taxes: −$6,967
• − Insurance: −$2,322
• − Repairs & maintenance: −$2,412
• − Management: −$2,412
• − HOA: −$876
• − Depreciation: −$13,512
• Taxable loss: −$24,373
• Est. tax savings @ 24.0%: +$5,850
• After-tax cash flow: $-9,730/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.

Condition & rehab AI · 30 photos

Excellent 95/100 None rehab

This move-in-ready single-story home in Fairhope, Alabama, features modern amenities and a serene outdoor setting, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior trim — Fresh paint can make the home look more inviting and increase its value. ↑
• Both Add smart home features — Modernizes the home and adds convenience for both buyers and renters. ↑

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary J Larry Newton School C+ AL #74/627 Nat'l #8,415/41,679 Middle Fairhope Middle School A- AL #3/257 Nat'l #1,272/14,009 High Fairhope High School F AL #22/305 Nat'l #6,890/17,239

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

B Composite livability gradescore 76/100

Livability — Fairhope

• Score: 76/100
• State rank: #15
• US rank: #3577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Baldwin County · 248,264 people
• City population: 38,108
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 38,108
• Household income: $89,694
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 15% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Black 4% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

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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: ▼ -175.08%
• Current HPI: 299.6643
• Rent YoY: ▲ 2.95%
• Metro: Daphne-Fairhope-Foley, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• Other: Directions available to property
• HOA & community: Annual association fee of $880 covering association management, common area insurance, and grounds maintenanceTransfer fees applyOutdoor community pool

Exterior

• Parking: Attached double garage with automatic garage door (2 covered spaces)Garage dimensions approx. 19'8" x 23'2"
• Utilities: Water: Robertsdale UtilitiesElectric: Baldwin EMC
• Home design: One-story new constructionWhole/Full ownership
• Construction: Built with concrete board and hardboard; Fortified-Gold constructionSlab foundationComposition roofBuilding area reported as 1,979 square feet (builder source)
• Exterior features: Less than 1 acre lot with few treesNo waterfrontCommunity pool

Interior

• Kitchen: DishwasherDisposalMicrowaveElectric rangeCooktop
• Bedrooms: Primary bedroom on main level with attached bath and multiple walk-in closetsBedroom 2 (approx. 13.5 x 11.5)Bedroom 3 (approx. 10.8 x 13.0)Bedroom 4 (approx. 11.0 x 12.3)
• Bathrooms: Two full bathroomsPrimary bathroom with double vanity, shower only, and private water closet
• Heating & cooling: Central electric cooling
• Interior features: No fireplaceCovered rear porch
• Laundry & utility: Laundry on main levelUtility room (approx. 7'2" x 6'5")

Price history

+0.4% since first listed

2 events — show timeline

• 2026-06-12 Price Changed $396,558 BCAR
• 2026-05-22 Listed $395,085 BCAR