232 Harrison Cir · Gulf Shores, AL 36542

$305,000

3 bd · 2.0 ba · 1,772 sqft · SingleFamily public records · 112 Days on market

Built 2003 0.26 ac lot Est $383k · 20% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.5/30.0
• Schools +5.0/10.0
• DSCR +4.4/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVED – EVEN MORE VALUE NOW OFFERED! Welcome to this beautifully updated 4-bedroom, 3-bath home offering 2,180 square feet and tucked away on a private cul-de-sac in Gulf Shores with no HOA. Located just minutes from the white sandy beaches of Gulf Shores. This home offers the perfect balance of privacy and coastal convenience.This thoughtfully designed home has been freshly painted inside and out and features a brand-new wood back deck, creating a space to relax or entertain while enjoying your peaceful surroundings. Natural light throughout the home, highlighting the open concept living, dining, and kitchen area that creates an easy flow for everyday living and gatherings.The newer addition of the spacious primary suite offers a true retreat, complete with a large walk-in closet and a well-appointed primary bath featuring a beautiful tiled walk-in shower, large soaking tub, and dedicated vanity area.The home's flexible split floor plan provides options for guests or extended stays. The former primary bedroom and bath function perfectly as a private en suite, while two additional generously sized bedrooms are located on the opposite side of the home and share a large, well-placed bathroom.Situated in a desirable Gulf Shores location with close proximity to shopping, dining, and the area's stunning beaches, this home offers both privacy and convenience. Making this home an ideal for a primary residence, second home, or investment opportunity. At this new price point, this one won't last long, schedule your showing today! Buyer to verify all information during due diligence.

Key facts

• Open concept living
• Tiled walk-in shower
• New wood back deck

Tags

• PRIVATE CUL-DE-SAC
• NEW WOOD BACK DECK
• OPEN CONCEPT LIVING
• SPACIOUS PRIMARY SUITE
• LARGE WALK-IN CLOSET
• TILED WALK-IN SHOWER

Property features AI

Finance

• HOA & community: No community features; No transfer fees

Exterior

• Parking: Parking for 2 vehicles
• Utilities: Public sewer; Electric service by Baldwin EMC; Gulf Shores Utilities
• Home design: Single-family residence; One story
• Construction: Built with hardboard siding; Slab foundation; Composition roof with Fortified Roof
• Exterior features: Rear porch; Less than 1 acre lot; No waterfront

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator with ice maker
• Bedrooms: Primary bedroom with attached bathroom (primary bed/bath combo)
• Flooring: Tile
• Bathrooms: Three full bathrooms; Master bathroom with single vanity
• Heating & cooling: Central electric cooling; Electric central heating
• Interior features: Breakfast bar; Ceiling fans; No fireplace; Dining/Kitchen combo and living/dining/kitchen combo
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $68 ($820/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (19.9% below list).
• Recommended offer: $244k (19.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 0.2% in Gulf Shores — 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 69/100 on livability (#61 in AL) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing B+; Watch: amenities F, commute F.
• Zoned schools: Gulf Shores Elementary School (math 47% / reading 72%, grade B-, #63 of 627 statewide, top 10%, 1,062 students, 44% FRL); Gulf Shores Middle School (math 34% / reading 62%, grade C-, #29 of 257 statewide, top 12%, 589 students, 48% FRL); Gulf Shores High School (math 42% / reading 47%, grade F, #22 of 305 statewide, top 8%, 799 students, 37% FRL).
• Market conditions: Rents rising (+3.7%/yr); 1191 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 37% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $9k 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 112 days — a 9% lower offer ($278k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $54k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $138k; list at $305k implies a 120% gain — meaningful room to come down on a strong offer.

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 $244,296 (19.9% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.96%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $382,752
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 Howard Cir	0.13mi	4/3.0 (+1)	1,794 (+1%)	7mo	$280,000	$156	77
387 Landward Dr	0.43mi	3/2.0	1,706 (-4%)	2mo	$400,000	$234	72
423 Gemini St	0.36mi	3/2.0	1,706 (-4%)	6mo	$390,000	$229	72
379 Gemini St	0.28mi	4/2.0 (+1)	1,768 (-0%)	16mo	$419,000	$237	69
229 Harrison Cir	0.02mi	3/2.0	1,516 (-14%)	10mo	$305,000	$201	67
390 Gemini St	0.36mi	4/2.0 (+1)	1,768 (-0%)	15mo	$384,000	$217	66
395 Gemini St	0.29mi	4/2.0 (+1)	1,856 (+5%)	10mo	$400,500	$216	65
379 N Landward Dr	0.43mi	3/2.0	1,622 (-8%)	4mo	$363,000	$224	63
5761 Shady Woods Ct	0.63mi	3/2.0	1,792 (+1%)	16mo	$355,000	$198	55
3850 Borman Loop	0.56mi	3/2.0	1,584 (-11%)	4mo	$335,000	$211	53
3820 Borman Loop	0.50mi	4/2.0 (+1)	1,948 (+10%)	8mo	$375,000	$193	48
3826 Borman Loop	0.53mi	4/2.0 (+1)	1,958 (+10%)	6mo	$377,000	$193	47

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 · 3.71% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.49×
• Total profit: $-43,429
• Equity at exit: $45,476

10-year hold

• IRR: -4.4%
• Equity multiple: 0.70×
• Total profit: $-25,362
• Equity at exit: $26,371

Cash invested: $85,400 (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 36542

• Rents YoY: 3.7%
• Active inventory: 1191
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,443 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $68

Break-even live

Break-even rent $2,356

Max offer price $305,000

Occupancy floor 92%

Sensitivity live

Price	-10% $241	-5% $155	+0% $68	+5% $-18	+10% $-104
Rent	-10% $-125	-5% $-28	+0% $68	+5% $165	+10% $261
Rate	-1.0pp $222	-0.5pp $146	base $68	+0.5pp $-11	+1.0pp $-91

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
394 Haise Ln Gulf Shores, AL	3.0	2.0	1615	$2,450	$1.52	21d	1	0.36mi
431 Gemini St Gulf Shores, AL	4.0	2.0	1856	$2,400	$1.29	21d	1	0.37mi
4500 Gulf Shores Pkwy Gulf Shores, AL	1.0–3.0	1.0–3.0	1032	$1,983	$1.92	14d	10	0.77mi
5652 Dee St Unit A Gulf Shores, AL	2.0	2.0	2240	$1,500	$0.67	21d	1	0.82mi
4962 Thorp Way Gulf Shores, AL	1.0–3.0	1.0–2.5	1170	$2,477	$2.12	21d	45	0.86mi
609 Saint Andrews Dr Gulf Shores, AL	3.0	3.0	2064	$5,500	$2.66	21d	1	1.36mi
2519 Bienville Ave Gulf Shores, AL	3.0	2.0	2100	$3,500	$1.67	21d	1	1.42mi

Listing history 20 events

1. 2026-06-19
   days on market $305,000 Active 112 DOM
2. 2026-06-18
   days on market $305,000 Active 111 DOM
3. 2026-06-17
   days on market $305,000 Active 110 DOM
4. 2026-06-16
   days on market $305,000 Active 109 DOM
5. 2026-06-15
   days on market $305,000 Active 108 DOM
6. 2026-06-14
   days on market $305,000 Active 106 DOM
7. 2026-06-13
   days on market $305,000 Active 105 DOM
8. 2026-06-10
   days on market $305,000 Active 103 DOM
9. 2026-06-09
   days on market $305,000 Active 102 DOM
10. 2026-06-08
    days on market $305,000 Active 101 DOM
11. 2026-06-07
    days on market $305,000 Active 100 DOM
12. 2026-06-02
    days on market $305,000 Active 95 DOM
13. 2026-06-01
    days on market $305,000 Active 94 DOM
14. 2026-05-31
    days on market $305,000 Active 93 DOM
15. 2026-05-30
    pricedays on market $305,000 Active 92 DOM
16. 2026-04-14
    price $329,000 1615-char remark

    Show marketing remark (1615 chars)

    PRICE IMPROVED – EVEN MORE VALUE NOW OFFERED! Welcome to this beautifully updated 4-bedroom, 3-bath home offering 2,180 square feet and tucked away on a private cul-de-sac in Gulf Shores with no HOA. Located just minutes from the white sandy beaches of Gulf Shores. This home offers the perfect balance of privacy and coastal convenience.This thoughtfully designed home has been freshly painted inside and out and features a brand-new wood back deck, creating a space to relax or entertain while enjoying your peaceful surroundings. Natural light throughout the home, highlighting the open concept living, dining, and kitchen area that creates an easy flow for everyday living and gatherings.The newer addition of the spacious primary suite offers a true retreat, complete with a large walk-in closet and a well-appointed primary bath featuring a beautiful tiled walk-in shower, large soaking tub, and dedicated vanity area.The home's flexible split floor plan provides options for guests or extended stays. The former primary bedroom and bath function perfectly as a private en suite, while two additional generously sized bedrooms are located on the opposite side of the home and share a large, well-placed bathroom.Situated in a desirable Gulf Shores location with close proximity to shopping, dining, and the area's stunning beaches, this home offers both privacy and convenience. Making this home an ideal for a primary residence, second home, or investment opportunity. At this new price point, this one won't last long, schedule your showing today! Buyer to verify all information during due diligence.

17. 2026-04-14
    price $329,000

    Show marketing remark (1615 chars)

    PRICE IMPROVED – EVEN MORE VALUE NOW OFFERED! Welcome to this beautifully updated 4-bedroom, 3-bath home offering 2,180 square feet and tucked away on a private cul-de-sac in Gulf Shores with no HOA. Located just minutes from the white sandy beaches of Gulf Shores. This home offers the perfect balance of privacy and coastal convenience.This thoughtfully designed home has been freshly painted inside and out and features a brand-new wood back deck, creating a space to relax or entertain while enjoying your peaceful surroundings. Natural light throughout the home, highlighting the open concept living, dining, and kitchen area that creates an easy flow for everyday living and gatherings.The newer addition of the spacious primary suite offers a true retreat, complete with a large walk-in closet and a well-appointed primary bath featuring a beautiful tiled walk-in shower, large soaking tub, and dedicated vanity area.The home's flexible split floor plan provides options for guests or extended stays. The former primary bedroom and bath function perfectly as a private en suite, while two additional generously sized bedrooms are located on the opposite side of the home and share a large, well-placed bathroom.Situated in a desirable Gulf Shores location with close proximity to shopping, dining, and the area's stunning beaches, this home offers both privacy and convenience. Making this home an ideal for a primary residence, second home, or investment opportunity. At this new price point, this one won't last long, schedule your showing today! Buyer to verify all information during due diligence.

18. 2026-02-27
    listed $359,000 Active 1615-char remark

    Show marketing remark (1615 chars)

    PRICE IMPROVED – EVEN MORE VALUE NOW OFFERED! Welcome to this beautifully updated 4-bedroom, 3-bath home offering 2,180 square feet and tucked away on a private cul-de-sac in Gulf Shores with no HOA. Located just minutes from the white sandy beaches of Gulf Shores. This home offers the perfect balance of privacy and coastal convenience.This thoughtfully designed home has been freshly painted inside and out and features a brand-new wood back deck, creating a space to relax or entertain while enjoying your peaceful surroundings. Natural light throughout the home, highlighting the open concept living, dining, and kitchen area that creates an easy flow for everyday living and gatherings.The newer addition of the spacious primary suite offers a true retreat, complete with a large walk-in closet and a well-appointed primary bath featuring a beautiful tiled walk-in shower, large soaking tub, and dedicated vanity area.The home's flexible split floor plan provides options for guests or extended stays. The former primary bedroom and bath function perfectly as a private en suite, while two additional generously sized bedrooms are located on the opposite side of the home and share a large, well-placed bathroom.Situated in a desirable Gulf Shores location with close proximity to shopping, dining, and the area's stunning beaches, this home offers both privacy and convenience. Making this home an ideal for a primary residence, second home, or investment opportunity. At this new price point, this one won't last long, schedule your showing today! Buyer to verify all information during due diligence.

19. 2026-02-27
    listed $359,000 Active

    Show marketing remark (1615 chars)

    PRICE IMPROVED – EVEN MORE VALUE NOW OFFERED! Welcome to this beautifully updated 4-bedroom, 3-bath home offering 2,180 square feet and tucked away on a private cul-de-sac in Gulf Shores with no HOA. Located just minutes from the white sandy beaches of Gulf Shores. This home offers the perfect balance of privacy and coastal convenience.This thoughtfully designed home has been freshly painted inside and out and features a brand-new wood back deck, creating a space to relax or entertain while enjoying your peaceful surroundings. Natural light throughout the home, highlighting the open concept living, dining, and kitchen area that creates an easy flow for everyday living and gatherings.The newer addition of the spacious primary suite offers a true retreat, complete with a large walk-in closet and a well-appointed primary bath featuring a beautiful tiled walk-in shower, large soaking tub, and dedicated vanity area.The home's flexible split floor plan provides options for guests or extended stays. The former primary bedroom and bath function perfectly as a private en suite, while two additional generously sized bedrooms are located on the opposite side of the home and share a large, well-placed bathroom.Situated in a desirable Gulf Shores location with close proximity to shopping, dining, and the area's stunning beaches, this home offers both privacy and convenience. Making this home an ideal for a primary residence, second home, or investment opportunity. At this new price point, this one won't last long, schedule your showing today! Buyer to verify all information during due diligence.

20. 2005-12-16
    soldstatus $138,500

ⓘ 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: $1,621 · $135/mo
• Projected year-2 tax: $1,621 · $135/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 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,316
• − Mortgage interest: −$17,085
• − Property taxes: −$1,621
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,345
• − Management: −$2,345
• − Depreciation: −$8,873
• Taxable loss: −$4,478
• Est. tax savings @ 24.0%: +$1,075
• After-tax cash flow: $1,895/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)

No district data.

Livability — Gulf Shores

• Score: 69/100
• State rank: #61
• US rank: #8945

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gulf Shores, AL
• County: Baldwin County · 181,514 people
• City population: 18,906
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 18,906
• Household income: $79,639
• Rent vs Own: 27.4% rent · 72.6% own
• Severe rent burden: 522.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 5% Two or more races 3% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 1%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Other Asian/Pacific 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: ▼ -153.95%
• Current HPI: 257.6494
• Rent YoY: ▲ 3.71%
• 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

+137.5% since first listed

5 events — show timeline

• 2026-04-14 Price Changed $329,000 GCMLS AL
• 2026-04-14 Price Changed $329,000 BCAR
• 2026-02-27 Listed $359,000 GCMLS AL
• 2026-02-27 Listed $359,000 BCAR
• 2005-12-16 Sold (Public Records) $138,500 Public Records

Property tax history

+15.1%/yr

Latest (2025): $1,621 · +5.0% YoY. Source: county tax records.