32461 Water View Dr Unit 7D · Loxley, AL 36551

$425,000

3 bd · 3.0 ba · 2,063 sqft · Condo public records · 82 Days on market

Built 2009 $206/sqft · 20% above area Est $354k · 20% over $800/mo HOA · 18% of rent

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Why this score? — see what drove the D- 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 +16.2/30.0
• 1% rule +5.6/10.0
• DSCR +5.0/10.0
• Schools +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to life inside Steelwood Country Club, one of Baldwin County’s most sought-after gated communities. This well-appointed 3-bedroom, 3-bath condominium offers approximately 2,063 square ft of thoughtfully designed comfort, functionality, and easy coastal living. Priced to sell, this is an excellent opportunity to enjoy the Steelwood lifestyle at a compelling value. Inside, you’ll find an open-concept layout with solid oak flooring flowing through the main living, dining, and kitchen areas, complemented by 10 ft high ceilings, crown molding, 8 ft doors, and detailed woodwork. The spacious living area features a gas fireplace and opens seamlessly to a large screened porch, also equipped with a fireplace and TV, creating an ideal space to relax or entertain year-round. The kitchen is outfitted with updated appliances including refrigerator, range, microwave/hood, dishwasher, and garbage disposal, and the unit includes a front-load washer and dryer for added convenience. A convenient wet bar area adds extra functionality for hosting and everyday living. Each of the three bedrooms is generously sized and features its own en-suite bath, offering flexibility for a variety of living arrangements. Additional features include a private carport with storage closet and a dedicated golf cart garage. Enjoy peaceful views overlooking the 17th hole and Steelwood Lake from this second-floor unit, combining privacy with scenic surroundings. Community amenities include a swimming pool, tennis and pickleball courts, basketball court, dog park, and picnic pavilion, along with 24-hour gated security and comprehensive exterior maintenance. Optional memberships provide access to golf, fishing, hunting, and dining at the clubhouse. Conveniently located near Gulf Shores, Orange Beach, Pensacola, and Fairhope, this property offers a balance of natural beauty and accessibility to the best of the Eastern Shore and Gulf Coast. Buyer to verify all information during due diligence.

Key facts

• Solid oak flooring
• Updated appliances
• Gas fireplace

Tags

• GATED COMMUNITIES
• OPEN-CONCEPT LAYOUT
• SOLID OAK FLOORING
• GAS FIREPLACE
• LARGE SCREENED PORCH
• UPDATED APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $425k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 4.1% in Loxley — 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 66/100 on livability (#95 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment B; Watch: schools D, crime D, amenities 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.
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k 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 82 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.06% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.26%
• DSCR: 1.10
• GRM: 7.9

CMA / ARV

• ARV (median comp): $353,691
• List price: $425,000
• Delta: 20.16%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.6%
• Equity multiple: 0.54×
• Total profit: $-54,283
• Equity at exit: $63,369

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-27,629
• Equity at exit: $36,746

Cash invested: $119,000 (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 36551

• Home prices YoY: -19.6%
• Active inventory: 166
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$177
• HOA: −$800
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $224

Break-even live

Break-even rent $4,216

Max offer price $425,000

Occupancy floor 90%

Sensitivity live

Price	-10% $465	-5% $344	+0% $224	+5% $104	+10% $-16
Rent	-10% $-131	-5% $46	+0% $224	+5% $402	+10% $580
Rate	-1.0pp $438	-0.5pp $332	base $224	+0.5pp $114	+1.0pp $2

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32511 Water View Dr E Loxley, AL	3.0	3.0	2063	$4,500	$2.18	14d	1	0.05mi

HOA detail condo

• Monthly dues: $800 · $9,600/yr
• Likely covers: trashgasexterior maint.poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 35 events

1. 2026-06-19
   days on market $425,000 Active 82 DOM
2. 2026-06-18
   days on market $425,000 Active 81 DOM
3. 2026-06-17
   days on market $425,000 Active 80 DOM
4. 2026-06-16
   days on market $425,000 Active 79 DOM
5. 2026-06-15
   days on market $425,000 Active 78 DOM
6. 2026-06-14
   days on market $425,000 Active 76 DOM
7. 2026-06-13
   days on market $425,000 Active 75 DOM
8. 2026-06-10
   days on market $425,000 Active 73 DOM
9. 2026-06-09
   days on market $425,000 Active 72 DOM
10. 2026-06-08
    days on market $425,000 Active 71 DOM
11. 2026-06-07
    days on market $425,000 Active 70 DOM
12. 2026-06-05
    days on market $425,000 Active 67 DOM
13. 2026-06-03
    days on market $425,000 Active 66 DOM
14. 2026-06-02
    days on market $425,000 Active 65 DOM
15. 2026-06-01
    days on market $425,000 Active 64 DOM
16. 2026-05-31
    days on market $425,000 Active 63 DOM
17. 2026-05-30
    days on market $425,000 Active 62 DOM
18. 2026-03-29
    listed $425,000 Active 2002-char remark

    Show marketing remark (2002 chars)

    Welcome to life inside Steelwood Country Club, one of Baldwin County’s most sought-after gated communities. This well-appointed 3-bedroom, 3-bath condominium offers approximately 2,063 square ft of thoughtfully designed comfort, functionality, and easy coastal living. Priced to sell, this is an excellent opportunity to enjoy the Steelwood lifestyle at a compelling value. Inside, you’ll find an open-concept layout with solid oak flooring flowing through the main living, dining, and kitchen areas, complemented by 10 ft high ceilings, crown molding, 8 ft doors, and detailed woodwork. The spacious living area features a gas fireplace and opens seamlessly to a large screened porch, also equipped with a fireplace and TV, creating an ideal space to relax or entertain year-round. The kitchen is outfitted with updated appliances including refrigerator, range, microwave/hood, dishwasher, and garbage disposal, and the unit includes a front-load washer and dryer for added convenience. A convenient wet bar area adds extra functionality for hosting and everyday living. Each of the three bedrooms is generously sized and features its own en-suite bath, offering flexibility for a variety of living arrangements. Additional features include a private carport with storage closet and a dedicated golf cart garage. Enjoy peaceful views overlooking the 17th hole and Steelwood Lake from this second-floor unit, combining privacy with scenic surroundings. Community amenities include a swimming pool, tennis and pickleball courts, basketball court, dog park, and picnic pavilion, along with 24-hour gated security and comprehensive exterior maintenance. Optional memberships provide access to golf, fishing, hunting, and dining at the clubhouse. Conveniently located near Gulf Shores, Orange Beach, Pensacola, and Fairhope, this property offers a balance of natural beauty and accessibility to the best of the Eastern Shore and Gulf Coast. Buyer to verify all information during due diligence.

19. 2024-08-21
    listed $447,700 Active
20. 2024-08-16
    historical $2,600
21. 2024-07-26
    listed $2,600
22. 2024-07-12
    price $441,900
23. 2024-05-07
    listed $444,900 Active
24. 2024-03-12
    price $444,900
25. 2024-03-12
    price $444,900
26. 2024-01-20
    listed $450,000 Active
27. 2023-10-03
    soldstatus $425,000
28. 2023-09-29
    soldstatus $425,000 Closed
29. 2023-09-29
    soldstatus $425,000 Closed
30. 2023-09-06
    status Pending
31. 2023-09-06
    status Pending
32. 2023-05-09
    listed $425,000 Active
33. 2023-05-08
    listed $425,000 Active
34. 2020-04-20
    soldstatus $250,000
35. 2014-10-29
    listed $259,000

ⓘ 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: $1,500 · $125/mo
• Projected year-2 tax: $1,743 · $145/mo
• Expected delta: +$242/yr (+$20/mo · 16.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 20 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: $54,000
• − Mortgage interest: −$23,807
• − Property taxes: −$1,500
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$9,600
• − Depreciation: −$12,364
• Taxable loss: −$4,036
• Est. tax savings @ 24.0%: +$969
• After-tax cash flow: $3,658/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: 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

Livability — Loxley

• Score: 66/100
• State rank: #95
• US rank: #11346

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Loxley, AL
• Population (ZIP): 12,915

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 (75%)
• Race & ethnicity: White 75% Black 15% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▼ -71.18%
• Current HPI: 291.8584
• 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

+64.1% since first listed

18 events — show timeline

• 2026-03-29 Listed $425,000 BCAR
• 2024-08-21 Listed $447,700 BCAR
• 2024-08-16 Rental Removed $2,600 BCAR
• 2024-07-26 Listed for Rent $2,600 BCAR
• 2024-07-12 Price Changed $441,900 BCAR
• 2024-05-07 Listed $444,900 BCAR
• 2024-03-12 Price Changed $444,900 GCMLS AL
• 2024-03-12 Price Changed $444,900 BCAR
• 2024-01-20 Listed $450,000 BCAR
• 2023-10-03 Sold (Public Records) $425,000 Public Records
• 2023-09-29 Sold (MLS) $425,000 GCMLS AL
• 2023-09-29 Sold (MLS) $425,000 BCAR
• 2023-09-06 Pending — BCAR
• 2023-09-06 Pending — GCMLS AL
• 2023-05-09 Listed $425,000 GCMLS AL
• 2023-05-08 Listed $425,000 BCAR
• 2020-04-20 Sold (Public Records) $250,000 Public Records
• 2014-10-29 Listed $259,000 BCAR

Property tax history

-3.8%/yr

Latest (2025): $1,500 · -38.8% YoY. Source: county tax records.