1909 Clark Ave NE · Fort Payne, AL 35967

$25,000

2 bd · 1.0 ba · 1,120 sqft · SingleFamily · 2 Days on market

Built 1900 Poor condition 0.64 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

House is condemned by City of Fort Payne and priced accordingly. This . 64 acre lot would be a great place for a future home in the heart of Fort Payne. Call your favorite REALTOR® to schedule a private showing.

Key facts

• Heart of fort payne
• .64 acre lot
• 0.64 acre lot

Tags

• .64 ACRE LOT
• HEART OF FORT PAYNE

Property features AI

Finance

• Other: Directions available
• HOA & community: No HOA; Subdivision: Mcgee

Exterior

• Parking: Dirt driveway
• Utilities: Public sewer; Public water
• Home design: Single-family residence; One level; Built in 1900
• Construction: Living area approximately 1,120; No fireplace; No new construction
• Exterior features: 0.64-acre lot; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Window cooling units (2); No central heating listed
• Interior features: Crawl space basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Cap rate 47.8% vs local median 2.8% in Fort Payne — 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 67/100 on livability (#86 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment F.
• Fort Payne City (town): math 26% / reading 46% proficiency, ranked #41 of 129 in AL (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Williams Avenue Elementary School (math 34% / reading 54%, grade F, #194 of 627 statewide, top 32%, 141 students, 0% FRL); Fort Payne High School (math 21% / reading 28%, grade F, #118 of 305 statewide, top 45%, 1,058 students, 71% FRL) — zoned schools average 35% FRL vs 59% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 106 active listings in the ZIP; 49 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• DeKalb County population projected to shrink 8% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $25,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 5.25% ✓
• Cap rate: 47.79%
• Cash-on-cash: 148.20%
• DSCR: 7.59
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $176,960
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1412 Godfrey Ave NE	0.22mi	3/2.0 (+1)	1,092 (-2%)	5mo	$178,000	$163	73
1410 Godfrey Ave NE	0.22mi	3/2.0 (+1)	1,064 (-5%)	4mo	$181,000	$170	69
708 Forest Ave NW	0.70mi	2/2.0	1,150 (+3%)	2mo	$182,000	$158	57
1507 Godfrey Ave NE	0.28mi	3/2.0 (+1)	1,198 (+7%)	13mo	$162,000	$135	56
1509 NE Clark Ave NE	0.28mi	3/1.5 (+1)	1,215 (+8%)	13mo	$134,000	$110	55
709 NW Alabama Ave NW	0.63mi	2/2.0	1,221 (+9%)	0mo	$178,000	$146	51
1103 Alabama Ave NW	0.41mi	3/1.0 (+1)	1,277 (+14%)	4mo	$120,000	$94	49
1607 Hillcrest Ave	0.64mi	3/2.0 (+1)	1,179 (+5%)	18mo	$210,000	$178	38
1952 Sanders Ave NE	0.61mi	3/1.0 (+1)	1,008 (-10%)	17mo	$168,000	$167	36

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: —
• Equity multiple: 8.29×
• Total profit: $51,028
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 17.49×
• Total profit: $115,412
• Equity at exit: $2,162

Cash invested: $7,000 (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 35967

• Home prices YoY: -15.6%
• Active inventory: 106
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,313 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $864

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 29%

Sensitivity live

Price	-10% $882	-5% $873	+0% $864	+5% $856	+10% $847
Rent	-10% $761	-5% $813	+0% $864	+5% $916	+10% $968
Rate	-1.0pp $877	-0.5pp $871	base $864	+0.5pp $858	+1.0pp $851

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-23
   listed $25,000 Active

ⓘ 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: $15,756
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$727
• Taxable income: $10,607
• Est. tax owed @ 24.0%: −$2,546
• After-tax cash flow: $7,828/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 · 3 photos

Poor 20/100 Extensive rehab

This property is in a state of disrepair with significant overgrowth and structural damage, requiring extensive rehabilitation to become habitable.

Repairs flagged

• Major roof — Significant rust and damage
• Major exterior walls — Severe overgrowth and potential structural issues

Value-add opportunities

• Both Clearing vegetation and repairing the roof — Improves safety and curb appeal
• Both Structural assessment and repairs — Ensures safety and prevents further deterioration

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant rust and damage	Major	$15,000–50,000
exterior walls · Severe overgrowth and potential structural issues	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Clearing vegetation and repairing the roof — Improves safety and curb appeal ↑
• Both Structural assessment and repairs — Ensures safety and prevents further deterioration ↑

ⓘ 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: Fort Payne City
• NCES district ID: 0101560
• Math proficiency: 26% ▼ -20.00%
• Reading proficiency: 46% ▲ 3.00%
• Median HH income: $37,802
• Composite: 29.93/100
• National rank: #6380
• State rank: #41 of 129 in AL

Livability — Fort Payne

• Score: 67/100
• State rank: #86
• US rank: #10977

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Payne, AL
• Population (ZIP): 17,342

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 71,722 people
• By 2030: 71,373 · -0.5%
• By 2040: 69,536 · -3.0%
• By 2050: 66,020 · -8.0%
• By 2075: 53,325 · -25.7%
• By 2100: 36,127 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 22% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 3%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 1%
• Foreign-born: 9% · Canada
• Languages at home: 80% English-only · Spanish 19% Other Indo-European 1%

Political lean MEDSL · DeKalb

• 2024 margin: Solid R (+74.0) · D 12.7% · R 86.7%
• 2008→2024 swing: -22.7pp toward R · 2008: -51.2pp · 2024: -74.0pp
• All cycles: 2024: R+74.0 2020: R+69.8 2016: R+69.4 2012: R+54.9 2008: R+51.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.03%
• Current HPI: 243.3645
• 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

• 2026-05-23 Listed $25,000 VMLS