1134 Henry Dr · Alabaster, AL 35007

$169,900

5 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 9 Days on market

Built 1979 0.66 ac lot

---

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 +29.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully updated property in the heart of Alabaster! Located in the desirable Scottsdale area, this spacious home offers over 2,000± sq ft of living space with room for the whole family. Featuring multiple living areas, generously sized bedrooms, and updated finishes throughout, this home blends comfort, functionality, and style. The large lot provides plenty of outdoor space for entertaining, relaxing, or future additions. Conveniently located near shopping, dining, parks, and highly sought-after Alabaster City Schools, this home offers both convenience and value. Whether you’re looking for your forever home or a move-in-ready property with character an

Key facts

• Updated property
• Large lot
• Outdoor space

Tags

• UPDATED PROPERTY
• MULTIPLE LIVING AREAS
• LARGE LOT
• OUTDOOR SPACE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Lot size about 0.66 acre; Subdivision: SCOTTSDALE

Exterior

• Parking: Attached garage; Side garage entry; Driveway parking; Total of 2 garage spaces
• Utilities: Public water; Connected sewer; Unknown internet service availability
• Home design: Siding (wood); Basement foundation; Tri-level: no; Split-level: no; Split foyer: no; Existing construction
• Construction: Wood siding; Concrete block basement
• Exterior features: Fenced yard; Storage building; Open and screened decks

Interior

• Kitchen: Laminate countertops; Built-in dishwasher; Electric oven; Refrigerator
• Bedrooms: Multiple bedrooms on main level; Additional bedrooms in the basement
• Flooring: Carpet; Concrete; Hardwood laminate; Tile
• Bathrooms: Two full bathrooms; Tubs with shower combos and linen closet
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral/vaulted ceilings; Handyman special; One wood-burning fireplace in the living room with tile surround; Finished and unfinished basement (concrete block)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on the main level; Two or more electric water heaters

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 10.6% vs local median 4.0% in Alabaster — 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 76/100 on livability (#14 in AL, #3,512 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D-, commute F, health & safety F.
• Alabaster City (suburban): math 30% / reading 57% proficiency, ranked #17 of 129 in AL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Thompson Intermediate School (math 25% / reading 63%, grade F, #194 of 627 statewide, top 32%, 898 students, 53% FRL); Thompson High School (math 34% / reading 38%, grade F, #43 of 305 statewide, top 14%, 2,203 students, 48% FRL) — zoned schools average 51% FRL vs 31% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 227 active listings in the ZIP; solid renter incomes; 987 units permitted in Shelby County in 2024 (0 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.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $48k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 44% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1979 — 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. 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?
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: 1.24% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.44%
• DSCR: 1.69
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.16% rent growth · sell at horizon

5-year hold

• IRR: 5.3%
• Equity multiple: 1.20×
• Total profit: $9,646
• Equity at exit: $25,333

10-year hold

• IRR: 14.0%
• Equity multiple: 2.08×
• Total profit: $51,296
• Equity at exit: $14,690

Cash invested: $47,572 (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 35007

• Home prices YoY: -35.0%
• Rents YoY: 2.2%
• Active inventory: 227
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,111 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$94 /mo · $1,122/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $612

Break-even live

Break-even rent $1,336

Max offer price $169,900

Occupancy floor 66%

Sensitivity live

Price	-10% $708	-5% $660	+0% $612	+5% $564	+10% $516
Rent	-10% $445	-5% $529	+0% $612	+5% $696	+10% $779
Rate	-1.0pp $698	-0.5pp $655	base $612	+0.5pp $568	+1.0pp $523

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-07
   status $169,900 Pending 9 DOM
2. 2026-06-03
   days on market $169,900 Active 9 DOM
3. 2026-06-02
   days on market $169,900 Active 8 DOM
4. 2026-06-01
   days on market $169,900 Active 7 DOM
5. 2026-05-31
   days on market $169,900 Active 6 DOM
6. 2026-05-22
   listed $169,900 Active

ⓘ 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: $1,122 · $94/mo
• Projected year-2 tax: $1,122 · $94/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 44% 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: $25,328
• − Mortgage interest: −$9,517
• − Property taxes: −$1,122
• − Insurance: −$850
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$4,943
• Taxable income: $4,844
• Est. tax owed @ 24.0%: −$1,163
• After-tax cash flow: $6,183/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: Alabaster City
• NCES district ID: 0100190
• Math proficiency: 30% ▼ -27.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $68,690
• Composite: 39.07/100
• National rank: #4052
• State rank: #17 of 129 in AL

Livability — Alabaster

• Score: 76/100
• State rank: #14
• US rank: #3512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alabaster, AL
• County: Shelby County · 188,970 people
• City population: 28,586
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 28,586
• Household income: $88,505
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 325.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Italian 3% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.63%
• Current HPI: 211.0691
• Rent YoY: ▲ 2.16%
• Metro: Birmingham-Hoover, 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

1 event — show timeline

• 2026-05-22 Listed $169,900 Greater Alabama MLS