500 Annapolis Ave · Sheffield, AL 35660

$310,000

None bd · None ba · 3,052 sqft · MultiFamily public records · 15 Days on market

Built 1920 7,405 sqft lot Est $278k · 12% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.3/15.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Cash-flow machine! This 6-unit building is 100% occupied at $3,500 per month. Add that to very low property tax and insurance costs and you are left with a nice cash flowing property. No need to worry about Capital Expenditure as most have been completed within the last 5 years: New roof, windows, vinyl siding, plumbing, appliances, & window units. All units are separately metered with tenants paying their own utilities. 5 of the units rent for $600 per month and 1 unit rents for $500 per month. Owner will consider seller-financing with a 20% down payment

Key facts

• New plumbing
• New appliances
• Vinyl siding

Tags

• NEW ROOF
• NEW WINDOWS
• VINYL SIDING
• NEW PLUMBING
• NEW APPLIANCES
• SEPARATELY METERED

Property features AI

Finance

• Other: Corner lot on a paved, city-maintained street (50 x 150); Directions: Head West on E 2nd St, turn right onto Annapolis Ave, apartments on right
• Financial info: Information not provided
• HOA & community: No association amenities

Exterior

• Parking: Alley access; On-street parking
• Security: Information not provided
• Utilities: Public water; Water available; Cable available; Sewer: unknown
• Home design: Residential income property; Apartment complex
• Construction: Vinyl siding; Metal roof; Built with crawl space foundation
• Exterior features: Front porch; No additional exterior features listed; Has view

Interior

• Kitchen: Oven; Range; Refrigerator; Electric water heater
• Bedrooms: Information not provided
• Flooring: Laminate; Vinyl
• Bathrooms: Information not provided
• Heating & cooling: Electric heating; Window unit cooling
• Interior features: Electric water heater; Oven; Range; Refrigerator; Washer/Dryer; Window cooling units; Electric heating
• Laundry & utility: Washer hookup; Washer/Dryer included

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $310k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $225/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $310k).
• Recommended offer: $305k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 5.1% in Sheffield — 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 60/100 on livability (#312 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Sheffield City (suburban): math 12% / reading 34% proficiency, ranked #103 of 129 in AL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sheffield Junior High School (math 2% / reading 32%, grade F, #200 of 257 statewide, top 78%, 186 students, 84% FRL); Sheffield High School (math 15% / reading 15%, grade F, #212 of 305 statewide, top 70%, 278 students, 66% FRL) — zoned schools at 75% FRL track the district average.
• Market conditions: 115 active listings in the ZIP; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $87k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,350 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.43% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.65%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $277,732
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2800 E 10th Ave Unit 1, 2, 3 & 4	0.69mi	—/—	3,200 (+5%)	10mo	$290,000	$91	52

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: 10.4%
• Equity multiple: 1.41×
• Total profit: $35,731
• Equity at exit: $46,222

10-year hold

• IRR: 19.5%
• Equity multiple: 2.64×
• Total profit: $141,991
• Equity at exit: $26,803

Cash invested: $86,800 (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 35660

• Home prices YoY: -29.5%
• Active inventory: 115
• Price-to-rent: 35.1×

Monthly cashflow live

• Estimated rent: $4,419 medium
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$928
• Net cashflow: $1,349

Break-even live

Break-even rent $2,712

Max offer price $310,000

Occupancy floor 64%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$4,422
Total (6 units)			$4,419

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $310,000 Active 15 DOM
2. 2026-06-18
   days on market $310,000 Active 14 DOM
3. 2026-06-17
   days on market $310,000 Active 13 DOM
4. 2026-06-16
   days on market $310,000 Active 12 DOM
5. 2026-06-15
   days on market $310,000 Active 11 DOM
6. 2026-06-14
   days on market $310,000 Active 9 DOM
7. 2026-06-13
   days on market $310,000 Active 8 DOM
8. 2026-06-10
   days on market $310,000 Active 6 DOM
9. 2026-06-09
   days on market $310,000 Active 5 DOM
10. 2026-06-08
    days on market $310,000 Active 4 DOM
11. 2026-06-07
    days on market $310,000 Active 3 DOM
12. 2026-06-05
    remarks 515-char remark
13. 2026-06-05
    listed $310,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $53,028
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$4,242
• − Management: −$4,242
• − Depreciation: −$9,018
• Taxable income: $11,961
• Est. tax owed @ 24.0%: −$2,871
• After-tax cash flow: $13,314/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: Sheffield City
• NCES district ID: 0103000
• Math proficiency: 12% ▼ -30.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $34,188
• Composite: 18.8/100
• National rank: #8866
• State rank: #103 of 129 in AL

Livability — Sheffield

• Score: 60/100
• State rank: #312
• US rank: #19366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield, AL
• City population: 9,385
• Population (ZIP): 9,385

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.23%
• Current HPI: 177.3226
• 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

+25.0% since first listed

7 events — show timeline

• 2026-06-04 Listed $310,000 SAARMLS
• 2025-01-31 Pending — SAARMLS
• 2025-01-31 Pending — SAARMLS
• 2025-01-30 Sold (MLS) $300,000 SAARMLS
• 2025-01-30 Sold (MLS) $300,000 SAARMLS
• 2024-11-04 Listed $309,000 SAARMLS
• 2020-03-16 Sold (Public Records) $248,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $355 · +6.8% YoY. Source: county tax records.