942 Cleveland Ave · Gadsden, AL 35901

$47,000

2 bd · 1.0 ba · 2,181 sqft · SingleFamily public records · 12 Days on market

Built 1955

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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

Nice 3 bedroom 2 bath with large Kitchen and Den. New floors and paint throughput and freshly painted exterior, new ceiling fans and bathroom vanities. This home has had recent renovations during Temporary Off Market. This home is convenient to Downtown Gadsden dining and shopping. It's located close to many churches.

Key facts

• Close to restaurants
• Large den
• Spacious kitchen

Tags

• CLOSE TO SHOPPING
• CLOSE TO RESTAURANTS
• SPACIOUS KITCHEN
• LARGE DEN
• LARGE LAUNDRY ROOM

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: West View Add

Exterior

• Parking: Concrete driveway
• Utilities: Public water; Natural gas
• Home design: Single-family residence; One story
• Construction: Frame construction; Slab foundation; Built as existing (not new construction)
• Exterior features: Public water source; Lot dimensions approximately 53 x 141 x 68 x 138

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Window air conditioning (2 units)
• Interior features: Patio

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $780 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Cap rate 26.2% 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: crime F, amenities F, commute 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.
• Zoned schools: Gadsden Middle School (math 15% / reading 51%, grade F, #101 of 257 statewide, top 40%, 464 students, 75% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL).
• Market conditions: 154 active listings in the ZIP; 1 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 $325 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,000

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.98% ✓
• Cap rate: 26.20%
• Cash-on-cash: 71.09%
• DSCR: 4.16
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $198,471
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Turrentine Ave	0.28mi	3/2.0 (+1)	2,080 (-5%)	8mo	$260,500	$125	64
508 S 10th St	0.28mi	3/2.0 (+1)	2,096 (-4%)	15mo	$148,900	$71	59
814 Randall St	0.37mi	2/2.5	2,112 (-3%)	17mo	$192,900	$91	57
1229 Jupiter St	0.43mi	3/2.0 (+1)	2,034 (-7%)	10mo	$55,000	$27	51
714 Reynolds Cir	0.40mi	3/2.0 (+1)	1,952 (-10%)	9mo	$203,500	$104	47
605 S 6th St	0.48mi	3/2.0 (+1)	2,089 (-4%)	22mo	$40,000	$19	44
1024 S 12th St	0.29mi	3/1.0 (+1)	1,867 (-14%)	19mo	$36,000	$19	42
220 Argyle Cir	0.41mi	3/2.0 (+1)	1,979 (-9%)	19mo	$249,000	$126	40

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: 70.7%
• Equity multiple: 4.20×
• Total profit: $42,064
• Equity at exit: $7,008

10-year hold

• IRR: 74.7%
• Equity multiple: 8.65×
• Total profit: $100,660
• Equity at exit: $4,064

Cash invested: $13,160 (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 35901

• Home prices YoY: -9.9%
• Active inventory: 154
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$246
• Tax from tax record: −$60 /mo · $723/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $780

Break-even live

Break-even rent $413

Max offer price $47,000

Occupancy floor 39%

Sensitivity live

Price	-10% $806	-5% $793	+0% $780	+5% $766	+10% $753
Rent	-10% $669	-5% $724	+0% $780	+5% $835	+10% $890
Rate	-1.0pp $803	-0.5pp $792	base $780	+0.5pp $767	+1.0pp $755

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1229 Jupiter St Gadsden, AL	3.0	2.0	2034	$1,400	$0.69	44d	1	0.46mi

Listing history 10 events

1. 2026-06-21
   days on market $47,000 Active 12 DOM
2. 2026-06-19
   days on market $47,000 Active 10 DOM
3. 2026-06-18
   days on market $47,000 Active 9 DOM
4. 2026-06-17
   days on market $47,000 Active 8 DOM
5. 2026-06-16
   days on market $47,000 Active 7 DOM
6. 2026-06-15
   days on market $47,000 Active 6 DOM
7. 2026-06-14
   days on market $47,000 Active 4 DOM
8. 2026-06-12
   days on market $47,000 Active 3 DOM
9. 2026-06-09
   remarks 164-char remark
10. 2026-06-09
    listed $47,000 Active 1 DOM

ⓘ 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: $723 · $60/mo
• Projected year-2 tax: $723 · $60/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 6/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $16,800
• − Mortgage interest: −$2,633
• − Property taxes: −$723
• − Insurance: −$235
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$1,367
• Taxable income: $9,154
• Est. tax owed @ 24.0%: −$2,197
• After-tax cash flow: $7,159/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): 19,186

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 55% Black 32% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

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: ▼ -26.83%
• Current HPI: 243.6795
• 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

+34.3% since first listed

13 events — show timeline

• 2026-06-09 Listed $47,000 VMLS
• 2022-09-12 Sold (MLS) $102,000 VMLS
• 2022-08-05 Contingent — VMLS
• 2022-08-01 Price Changed $109,900 VMLS
• 2022-07-19 Relisted — VMLS
• 2022-07-19 Price Changed $119,900 VMLS
• 2022-07-06 Delisted — VMLS
• 2022-06-24 Price Changed $124,000 VMLS
• 2022-06-20 Price Changed $127,500 VMLS
• 2022-06-06 Listed $129,900 VMLS
• 2019-05-03 Sold (MLS) $22,000 VMLS
• 2019-04-25 Pending — VMLS
• 2019-01-08 Listed $35,000 VMLS

Property tax history

+8.6%/yr

Latest (2025): $723 · +0.0% YoY. Source: county tax records.