251 1st St NE · La Fayette, AL 36862

$149,000

3 bd · 1.0 ba · 2,800 sqft · MultiFamily · 88 Days on market

Built 1960 Fair condition 2.06 ac lot $53/sqft · 21% below area Est $189k · 21% under ↓ 17% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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: 1 unit. estimate disagrees with records

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

Perfect for investors! Priced to sell and full of potential, this unique property package sits on over 2 acres and includes multiple income-producing units. The single-family home features 3 bedrooms and 1 bathroom. Next door, you’ll find even more investment potential with a duplex offering two units, each with 2 bedrooms and 1 bathroom. At the rear of the property, conveniently located just off the 4-lane road, are two garage apartments — the upper unit features 1 bedroom and 1 bathroom, while the lower unit offers 3 bedrooms and 1 bathroom. In total, this property includes 5 units, 11 bedrooms, and 5 bathrooms, plus additional land between the structures, providing even more value and future development potential. This is an excellent income-producing opportunity with room to grow. Property is being sold as-is.

Key facts

• 2.06 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $149k).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#276 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Chambers County (town): math 10% / reading 37% proficiency, ranked #101 of 129 in AL (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 25 active listings in the ZIP; 43 units permitted in Chambers 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 $4k of value loss. Plan a longer hold.
• Chambers 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 $42k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $140,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 3.20% ✓
• Cap rate: 28.36%
• Cash-on-cash: 78.79%
• DSCR: 4.51
• GRM: 2.6

CMA / ARV

• ARV (median comp): $189,025
• List price: $149,000
• Delta: -21.17%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 78.9%
• Equity multiple: 4.60×
• Total profit: $150,400
• Equity at exit: $22,216

10-year hold

• IRR: 82.4%
• Equity multiple: 9.53×
• Total profit: $355,920
• Equity at exit: $12,883

Cash invested: $41,720 (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 36862

• Home prices YoY: -6.3%
• Active inventory: 25
• Price-to-rent: 16.1×

Monthly cashflow live

• Estimated rent: $4,771 medium
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,002
• Net cashflow: $2,739

Break-even live

Break-even rent $1,303

Max offer price $149,000

Occupancy floor 38%

Sensitivity live

Price	-10% $2,842	-5% $2,791	+0% $2,739	+5% $2,688	+10% $2,636
Rent	-10% $2,362	-5% $2,551	+0% $2,739	+5% $2,928	+10% $3,116
Rate	-1.0pp $2,814	-0.5pp $2,777	base $2,739	+0.5pp $2,701	+1.0pp $2,661

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$774
1× unit	3	1	$825
▸ 4× units	2	1	$3,172
Total (6 units)			$4,771

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $149,000 Active 88 DOM
2. 2026-06-19
   days on market $149,000 Active 86 DOM
3. 2026-06-18
   days on market $149,000 Active 85 DOM
4. 2026-06-17
   days on market $149,000 Active 84 DOM
5. 2026-06-16
   days on market $149,000 Active 83 DOM
6. 2026-06-15
   days on market $149,000 Active 82 DOM
7. 2026-06-14
   days on market $149,000 Active 80 DOM
8. 2026-06-12
   days on market $149,000 Active 79 DOM
9. 2026-06-09
   days on market $149,000 Active 76 DOM
10. 2026-06-08
    days on market $149,000 Active 75 DOM
11. 2026-06-07
    days on market $149,000 Active 74 DOM
12. 2026-06-05
    days on market $149,000 Active 71 DOM
13. 2026-06-02
    days on market $149,000 Active 69 DOM
14. 2026-06-01
    days on market $149,000 Active 68 DOM
15. 2026-05-31
    days on market $149,000 Active 67 DOM
16. 2026-05-30
    days on market $149,000 Active 66 DOM
17. 2026-03-25
    listed $149,000 Active 837-char remark

    Show marketing remark (837 chars)

    Perfect for investors! Priced to sell and full of potential, this unique property package sits on over 2 acres and includes multiple income-producing units. The single-family home features 3 bedrooms and 1 bathroom. Next door, you’ll find even more investment potential with a duplex offering two units, each with 2 bedrooms and 1 bathroom. At the rear of the property, conveniently located just off the 4-lane road, are two garage apartments — the upper unit features 1 bedroom and 1 bathroom, while the lower unit offers 3 bedrooms and 1 bathroom. In total, this property includes 5 units, 11 bedrooms, and 5 bathrooms, plus additional land between the structures, providing even more value and future development potential. This is an excellent income-producing opportunity with room to grow. Property is being sold as-is.

18. 2026-03-25
    listed $149,000 Active 837-char remark

    Show marketing remark (837 chars)

    Perfect for investors! Priced to sell and full of potential, this unique property package sits on over 2 acres and includes multiple income-producing units. The single-family home features 3 bedrooms and 1 bathroom. Next door, you’ll find even more investment potential with a duplex offering two units, each with 2 bedrooms and 1 bathroom. At the rear of the property, conveniently located just off the 4-lane road, are two garage apartments — the upper unit features 1 bedroom and 1 bathroom, while the lower unit offers 3 bedrooms and 1 bathroom. In total, this property includes 5 units, 11 bedrooms, and 5 bathrooms, plus additional land between the structures, providing even more value and future development potential. This is an excellent income-producing opportunity with room to grow. Property is being sold as-is.

19. 2025-07-14
    price $180,000

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

Taxation est. · year 1

• Rental income: $57,252
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$4,580
• − Management: −$4,580
• − Depreciation: −$4,335
• Taxable income: $32,431
• Est. tax owed @ 24.0%: −$7,783
• After-tax cash flow: $25,089/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.

Condition & rehab AI · 4 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate rehabilitation, including exterior landscaping, roof inspection, and interior repairs. Improvements in these areas will significantly enhance its resale and rental value.

Repairs flagged

• Major exterior landscaping — Overgrown vegetation needs trimming
• Moderate roof inspection — Metal roof may need inspection
• Major flooring replacement — Visible wear and tear
• Major painting — Paint peeling and discoloration

Value-add opportunities

• Both Landscaping and exterior maintenance — Improves curb appeal and property value
• Both Interior painting — Enhances interior aesthetics and value
• Both Flooring replacement — Improves living conditions and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior landscaping · Overgrown vegetation needs trimming	Major	$15,000–50,000
roof inspection · Metal roof may need inspection	Moderate	$3,000–15,000
flooring replacement · Visible wear and tear	Major	$15,000–50,000
painting · Paint peeling and discoloration	Major	$15,000–50,000
Total estimated repair cost · 4 items		$48,000–165,000

Value-add ROI direction

• Both Landscaping and exterior maintenance — Improves curb appeal and property value ↑
• Both Interior painting — Enhances interior aesthetics and value ↑
• Both Flooring replacement — Improves living conditions and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Chambers County
• NCES district ID: 0100600
• Math proficiency: 10% ▼ -26.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $36,011
• Composite: 19.37/100
• National rank: #8785
• State rank: #101 of 129 in AL

Livability — La Fayette

• Score: 61/100
• State rank: #276
• US rank: #18384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Fayette, AL
• Population (ZIP): 6,052

Population outlook (Chambers County) Hauer SSP2

• Today (2025): 33,868 people
• By 2030: 33,504 · -1.1%
• By 2040: 32,594 · -3.8%
• By 2050: 31,422 · -7.2%
• By 2075: 29,054 · -14.2%
• By 2100: 25,431 · -24.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (50%)
• Race & ethnicity: White 50% Black 47% Hispanic / Latino 2% Two or more races 1%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Chambers

• 2024 margin: Strong R (+23.2) · D 38.0% · R 61.2%
• 2008→2024 swing: -14.8pp toward R · 2008: -8.5pp · 2024: -23.2pp
• All cycles: 2024: R+23.2 2020: R+15.6 2016: R+14.8 2012: R+5.1 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.02%
• Current HPI: 179.9224
• 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

-17.2% since first listed

3 events — show timeline

• 2026-03-25 Listed $149,000 LCMLS
• 2026-03-25 Listed $149,000 LCMLS
• 2025-07-14 Price Changed $180,000 LCMLS