605 18th St E · Jasper, AL 35501

$179,000

4 bd · 3.0 ba · 2,657 sqft · MultiFamily · 458 Days on market

Built 1945 Good condition ↓ 5% since listing

---

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 +25.7/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Condition / age +3.8/5.0
• Schools +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements.

Key facts

• Hardwood flooring
• Legal duplex
• Eat in kitchen

Tags

• LEGAL DUPLEX
• ALL BRICK HOME
• CERAMIC TILE
• HARDWOOD FLOORING
• DEN
• EAT IN KITCHEN

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $179k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive. Per door: $213/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.8% in Jasper — 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 62/100 on livability (#228 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, crime F.
• Jasper City (town): math 27% / reading 55% proficiency, ranked #23 of 129 in AL (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 86 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 36 units permitted in Walker County in 2024 (0 in 5+ unit buildings).
• At $2,106/mo this rent would consume 46% of the median local household income ($55k/yr) (locally 192% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Walker County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 458 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 458 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.18% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,796
• Equity at exit: $26,689

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $33,560
• Equity at exit: $15,477

Cash invested: $50,120 (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 35501

• Home prices YoY: -30.2%
• Active inventory: 86
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $2,106 high
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $427

Break-even live

Break-even rent $1,566

Max offer price $179,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,106
Total (2 units)			$2,106

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
159 Kings WAY Jasper, AL	4.0	2.0	1802	$1,810	$1.00	3d	1	0.56mi
93 Victor Dr Jasper, AL	4.0	2.5	1906	$1,850	$0.97	43d	1	0.84mi
84 Victor Dr Jasper, AL	4.0	2.0	1802	$1,775	$0.99	43d	1	0.85mi
578 Troubadour Ln Jasper, AL	4.0	2.0	1802	$1,695	$0.94	43d	1	0.90mi

Listing history 30 events

1. 2026-06-19
   days on market $179,000 Active 458 DOM
2. 2026-06-18
   days on market $179,000 Active 457 DOM
3. 2026-06-17
   days on market $179,000 Active 456 DOM
4. 2026-06-16
   days on market $179,000 Active 455 DOM
5. 2026-06-15
   days on market $179,000 Active 454 DOM
6. 2026-06-14
   days on market $179,000 Active 452 DOM
7. 2026-06-12
   days on market $179,000 Active 451 DOM
8. 2026-06-09
   days on market $179,000 Active 448 DOM
9. 2026-06-08
   days on market $179,000 Active 447 DOM
10. 2026-06-07
    days on market $179,000 Active 446 DOM
11. 2026-06-07
    days on market $179,000 Active 445 DOM
12. 2026-06-04
    days on market $179,000 Active 442 DOM
13. 2026-06-02
    days on market $179,000 Active 441 DOM
14. 2026-06-01
    days on market $179,000 Active 440 DOM
15. 2026-05-31
    days on market $179,000 Active 439 DOM
16. 2026-05-31
    days on market $179,000 Active 438 DOM
17. 2026-03-10
    status Active 639-char remark

    Show marketing remark (639 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements.

18. 2026-03-09
    status Active 719-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

19. 2026-03-09
    status Active

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

20. 2026-03-06
    status Pending
21. 2026-03-05
    status Pending 719-char remark

    Show marketing remark (639 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements.

22. 2026-03-05
    status Pending 639-char remark

    Show marketing remark (639 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements.

23. 2025-09-21
    status Active 719-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

24. 2025-09-16
    historical 719-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

25. 2025-06-28
    price $179,000 639-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

26. 2025-06-28
    price $179,000

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

27. 2025-06-28
    price $179,000 719-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

28. 2025-03-12
    listed $189,000 Active 639-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

29. 2025-03-12
    listed $189,000 Active 719-char remark

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

30. 2025-03-12
    listed $189,000 Active

    Show marketing remark (719 chars)

    Opportunity Knocks! Legal duplex with 3 units located in the heart of Jasper, close to local amenities. The property is an all-brick home with freshly painted trim. One unit is vacant and was previously rented for $1,550 monthly, featuring a virtual tour and floorplan. This 2-bed, 1-bath unit has been painted and includes ceramic tile and hardwood flooring, a den, eat-in kitchen, private laundry room, and ample storage. The other two units each have 1 bed and 1 bath and are rented for a total of $1,385 monthly. Additionally, the property includes a double carport and parking space for up to 6 cars. Contact for viewing arrangements. - Buyer & Buyer's agent fully responsible for all property due diligence!

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,272
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$895
• − Repairs & maintenance: −$2,022
• − Management: −$2,022
• − Depreciation: −$5,207
• Taxable income: $2,414
• Est. tax owed @ 24.0%: −$579
• After-tax cash flow: $4,541/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 · 12 photos

Good 75/100 Cosmetic rehab

This property features a renovated kitchen and bathroom, with good overall condition and potential for further improvements to boost its value.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and property value
• Both Replace old appliances — Modernizes kitchen and improves rental appeal
• Both Install new lighting fixtures — Enhances interior aesthetics and safety

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and property value ↑
• Both Replace old appliances — Modernizes kitchen and improves rental appeal ↑
• Both Install new lighting fixtures — Enhances interior aesthetics and safety ↑

ⓘ 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: Jasper City
• NCES district ID: 0101890
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 55% ▲ 3.00%
• Median HH income: $41,476
• Composite: 34.4/100
• National rank: #5204
• State rank: #23 of 129 in AL

Livability — Jasper

• Score: 62/100
• State rank: #228
• US rank: #17152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jasper, AL
• County: Walker County · 9,927 people
• City population: 9,927
• Metro: Jasper, AL
• Population (ZIP): 9,927
• Household income: $54,726
• Rent vs Own: 34.5% rent · 65.5% own
• Severe rent burden: 192.0

Population outlook (Walker County) Hauer SSP2

• Today (2025): 61,037 people
• By 2030: 58,391 · -4.3%
• By 2040: 53,080 · -13.0%
• By 2050: 48,031 · -21.3%
• By 2075: 37,799 · -38.1%
• By 2100: 29,001 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 14% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 2% Serbian 1% Iranian 1%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+71.8) · D 13.8% · R 85.6%
• 2008→2024 swing: -25.4pp toward R · 2008: -46.4pp · 2024: -71.8pp
• All cycles: 2024: R+71.8 2020: R+67.9 2016: R+67.4 2012: R+52.9 2008: R+46.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.31%
• Current HPI: 180.8506
• Rent YoY: —
• Metro: Jasper, 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

-5.3% since first listed

14 events — show timeline

• 2026-03-10 Relisted — Greater Alabama MLS
• 2026-03-09 Relisted — Walker County Area MLS
• 2026-03-09 Relisted — SAARMLS
• 2026-03-06 Pending — SAARMLS
• 2026-03-05 Pending — Walker County Area MLS
• 2026-03-05 Pending — Greater Alabama MLS
• 2025-09-21 Relisted — Walker County Area MLS
• 2025-09-16 Delisted — Walker County Area MLS
• 2025-06-28 Price Changed $179,000 Greater Alabama MLS
• 2025-06-28 Price Changed $179,000 SAARMLS
• 2025-06-28 Price Changed $179,000 Walker County Area MLS
• 2025-03-12 Listed $189,000 SAARMLS
• 2025-03-12 Listed $189,000 Walker County Area MLS
• 2025-03-12 Listed $189,000 Greater Alabama MLS