500 Padenreich Ave · Gadsden, AL 35903

$139,900

2 bd · 2.0 ba · 1,052 sqft · SingleFamily public records · 28 Days on market

Built 1940

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• 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

Super cute bungalow located within walking distance of Gadsden State - Perfect for a student, traveling medical professional, that renter who wants to be liberated from making someone else rich . . . so many possibilities! Two bedrooms and two bathrooms, living/dining/kitchen area that easily flows. Back porch offers flex space for another bedroom or office with few modifications. Covered front porch, extra large lot for turning around and driving out, storage building in backyard. Easy care vinyl siding, metal roof, updated electrical, windows, interior paint, flooring, lighting, split unit for energy efficient cooling/heating, the works! Asking only $139,900!

Key facts

• Covered front porch
• Metal roof
• Storage building

Tags

• BACK PORCH
• COVERED FRONT PORCH
• EXTRA LARGE LOT
• STORAGE BUILDING
• VINYL SIDING
• METAL ROOF

Property features AI

Finance

• Other: Lot roughly 100 x 150 x 90 x 150 (listed in acres); Subdivision: Highlands
• HOA & community: No homeowners association

Exterior

• Parking: Gravel driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Built in 1940
• Construction: Vinyl siding
• Exterior features: Covered front porch

Interior

• Kitchen: Range
• Bathrooms: Two 3/4 bathrooms
• Heating & cooling: Cooling: Other; Heating: See remarks
• Interior features: Crawl space basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/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 $135k (3.8% below list).
• Recommended offer: $135k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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: Donehoo Elementary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 260 students, 80% FRL); Litchfield Middle School (math 5% / reading 28%, grade F, #203 of 257 statewide, top 79%, 255 students, 91% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL) — zoned schools average 82% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 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 $967 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $134,522 (3.8% below list)

Questions for the listing agent

1. Built in 1940 — 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: 0.96% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $52,600
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1305 Tennessee Ave	0.40mi	2/1.0	1,094 (+4%)	3mo	$89,900	$82	68
1210 Paden Dr	0.20mi	3/1.0 (+1)	1,156 (+10%)	2mo	$72,500	$63	63
1303 Carolina Ave	0.40mi	2/1.0	1,032 (-2%)	19mo	$20,000	$19	58
1208 Stroud Ave	0.58mi	2/1.0	968 (-8%)	4mo	$48,000	$50	52
1218 Kentucky Ave	0.30mi	3/1.5 (+1)	1,199 (+14%)	5mo	$55,000	$46	52
1213 Slusser Ave	0.75mi	2/1.0	1,088 (+3%)	7mo	$44,000	$40	49
1315 Robinson Ave	0.61mi	2/1.0	1,015 (-4%)	16mo	$60,000	$59	48
1423 Goss Ave	0.49mi	3/2.0 (+1)	1,201 (+14%)	12mo	$70,000	$58	38
1130 Stillman Ave	0.72mi	2/1.0	994 (-6%)	23mo	$30,000	$30	34
1343 Stillman	0.74mi	2/1.0	995 (-5%)	23mo	$57,500	$58	33
1621 Arrowhead Dr	0.60mi	3/1.0 (+1)	1,189 (+13%)	23mo	$48,000	$40	23

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-8,545
• Equity at exit: $20,860

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $10,588
• Equity at exit: $12,096

Cash invested: $39,172 (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 35903

• Home prices YoY: -11.0%
• Active inventory: 97
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $223

Break-even live

Break-even rent $1,063

Max offer price $139,900

Occupancy floor 78%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $139,900 Active 28 DOM
2. 2026-06-18
   days on market $139,900 Active 27 DOM
3. 2026-06-17
   days on market $139,900 Active 26 DOM
4. 2026-06-16
   days on market $139,900 Active 25 DOM
5. 2026-06-15
   days on market $139,900 Active 24 DOM
6. 2026-06-14
   days on market $139,900 Active 22 DOM
7. 2026-06-13
   status $139,900 Active 21 DOM
8. 2026-06-12
   days on market $139,900 Contingent 21 DOM
9. 2026-06-09
   days on market $139,900 Contingent 18 DOM
10. 2026-06-09
    status $139,900 Contingent 17 DOM
11. 2026-06-08
    days on market $139,900 Active 17 DOM
12. 2026-06-07
    days on market $139,900 Active 16 DOM
13. 2026-06-07
    days on market $139,900 Active 15 DOM
14. 2026-06-04
    days on market $139,900 Active 12 DOM
15. 2026-06-02
    days on market $139,900 Active 11 DOM
16. 2026-06-01
    days on market $139,900 Active 10 DOM
17. 2026-05-31
    days on market $139,900 Active 9 DOM
18. 2026-05-31
    days on market $139,900 Active 8 DOM
19. 2026-05-22
    listed $139,900 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: $577 · $48/mo
• Projected year-2 tax: $577 · $48/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 · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% 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: $16,143
• − Mortgage interest: −$7,837
• − Property taxes: −$577
• − Insurance: −$700
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$4,070
• Taxable income: $377
• Est. tax owed @ 24.0%: −$90
• After-tax cash flow: $2,582/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): 17,180

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: Majority White (62%)
• Race & ethnicity: White 62% Black 31% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -29.07%
• Current HPI: 236.2537
• 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

1 event — show timeline

• 2026-05-22 Listed $139,900 VMLS

Property tax history

+3.5%/yr

Latest (2025): $577 · +0.0% YoY. Source: county tax records.