200 Parma Dr Unit B3 · Daphne, AL 36526

$133,500

2 bd · 2.0 ba · 1,378 sqft · Townhouse public records · 249 Days on market

Built 1984 $97/sqft · 41% below area Est $225k · 41% under $110/mo HOA · 7% of rent

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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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.8/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

Key facts

• Cozy back patio
• $110 HOA
• Parking

Tags

• COZY BACK PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $134k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $117k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.9% in Daphne — 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 75/100 on livability (#18 in AL, #3,949 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: amenities F, commute 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: Rents rising (+1.7%/yr); 590 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $923 of loan paydown is wiped out by about $4k 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 249 days — a 12% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $56k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $78k; list at $134k implies a 71% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.69%
• DSCR: 1.34
• GRM: 7.1

CMA / ARV

• ARV (median comp): $225,341
• List price: $133,500
• Delta: -40.76%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Parma Dr Unit B3	0.00mi	2/2.0	1,378 (0%)	0mo	$125,000	$91	100
200 Parma Dr Unit O-2	0.00mi	3/2.0 (+1)	1,378 (0%)	2mo	$137,500	$100	93
200 Parma Dr Unit F4	0.00mi	3/2.0 (+1)	1,378 (0%)	12mo	$225,000	$163	85
200 Parma Dr Unit L1	0.00mi	3/2.0 (+1)	1,374 (-0%)	13mo	$219,900	$160	84
200 Parma Dr Unit F2	0.00mi	2/2.0	1,378 (0%)	21mo	$201,800	$146	82
200 Parma Dr Unit E1	0.00mi	3/2.0 (+1)	1,378 (0%)	20mo	$204,500	$148	78
1000 D'olive Springs Dr Unit D-2	0.33mi	3/2.0 (+1)	1,365 (-1%)	1mo	$236,000	$173	77
47 Lake Shore Dr	0.31mi	2/2.5	1,517 (+10%)	0mo	$120,000	$79	66
100 Tower Dr #204	0.13mi	2/2.0	1,553 (+13%)	8mo	$310,000	$200	66
100 Tower Dr Unit 1D	0.13mi	2/2.0	1,553 (+13%)	10mo	$217,500	$140	64
15 Parma Dr	0.10mi	2/2.0	1,538 (+12%)	20mo	$268,500	$175	60
1000 D'olive Springs Dr Unit D3	0.33mi	3/2.0 (+1)	1,227 (-11%)	9mo	$200,000	$163	54

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-8,314
• Equity at exit: $19,905

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $4,684
• Equity at exit: $11,543

Cash invested: $37,380 (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 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 590
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$700
• Tax from tax record: −$139 /mo · $1,673/yr
• Insurance: −$56
• HOA: −$110
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $239

Break-even live

Break-even rent $1,272

Max offer price $133,500

Occupancy floor 80%

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: $33,375
• Closing costs: $4,005
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Parma Dr Unit 04 Daphne, AL	2.0	2.0	1385	$1,600	$1.16	43d	1	0.03mi
200 Parma Dr Unit A-2 Daphne, AL	2.0	2.0	1420	$1,550	$1.09	13d	1	0.08mi
6722 Van Buren St Unit 1 Daphne, AL	2.0	1.5	1220	$1,300	$1.07	21d	1	0.23mi
6722 Van Buren St Unit 5 Daphne, AL	2.0	1.5	1220	$1,300	$1.07	43d	1	0.23mi
500 Grant St Daphne, AL	2.0	1.0–1.5	876	$1,300	$1.48	43d	2	0.35mi
2 Lake Shore Dr Daphne, AL	2.0	1.5	1380	$2,350	$1.70	43d	1	0.36mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,473	$1.55	13d	10	0.47mi
2200 E Bay Dr Daphne, AL	1.0–2.0	1.0–2.0	925	$1,360	$1.47	21d	7	0.85mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	13d	24	1.21mi

HOA detail

• Monthly dues: $110 · $1,320/yr

Listing history 12 events

1. 2026-05-13
   status Pending 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

2. 2026-05-11
   status Active 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

3. 2026-05-02
   status Pending 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

4. 2026-04-24
   price $133,500 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

5. 2026-03-18
   price $140,300 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

6. 2026-02-10
   price $147,600 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

7. 2026-01-07
   price $155,400 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

8. 2025-12-05
   price $161,400 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

9. 2025-10-29
   price $169,900 675-char remark

   Show marketing remark (675 chars)

   Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

10. 2025-09-29
    price $179,900 675-char remark

    Show marketing remark (675 chars)

    Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

11. 2025-08-28
    listed $189,000 Active 675-char remark

    Show marketing remark (675 chars)

    Welcome to 200 Parma Drive – Your Next Home or Investment Opportunity! Nestled in a well-established area of Daphne, this charming condo is and waiting for its new owner. Featuring 2 spacious bedrooms and 2 full baths, it's the perfect fit for first-time buyers, downsizers, or savvy investors looking to grow their portfolio. Enjoy peaceful mornings or relaxing summer evenings on the cozy back patio – an ideal spot for your morning coffee or winding down after a long day. Don't miss out on this opportunity! Contact your favorite realtor today to schedule a private showing. Property may be subject to Alabama’s One Year Right of Redemption.

12. 2015-09-02
    soldstatus $78,087

ⓘ 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: $1,673 · $139/mo
• Projected year-2 tax: $1,673 · $139/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 10/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,905
• − Mortgage interest: −$7,478
• − Property taxes: −$1,673
• − Insurance: −$668
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − HOA: −$1,320
• − Depreciation: −$3,884
• Taxable income: $857
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $2,667/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 — Daphne

• Score: 75/100
• State rank: #18
• US rank: #3949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daphne, AL
• County: Baldwin County · 181,514 people
• City population: 36,484
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 36,484
• Household income: $88,750
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 535.0

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 (78%)
• Race & ethnicity: White 78% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -61.47%
• Current HPI: 227.2692
• Rent YoY: ▲ 1.72%
• 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

+71.0% since first listed

12 events — show timeline

• 2026-05-13 Pending — GCMLS AL
• 2026-05-11 Relisted — GCMLS AL
• 2026-05-02 Pending — GCMLS AL
• 2026-04-24 Price Changed $133,500 GCMLS AL
• 2026-03-18 Price Changed $140,300 GCMLS AL
• 2026-02-10 Price Changed $147,600 GCMLS AL
• 2026-01-07 Price Changed $155,400 GCMLS AL
• 2025-12-05 Price Changed $161,400 GCMLS AL
• 2025-10-29 Price Changed $169,900 GCMLS AL
• 2025-09-29 Price Changed $179,900 GCMLS AL
• 2025-08-28 Listed $189,000 GCMLS AL
• 2015-09-02 Sold (Public Records) $78,087 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,673 · +10.9% YoY. Source: county tax records.