109 Washington Ave · Gadsden, AL 35903

$59,900

4 bd · 2.0 ba · 1,766 sqft · SingleFamily public records · 8 Days on market

Built 1942 7,840 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to 109 Washington Ave, a charming house located in East Gadsden, AL. With its classic architectural design, the house exudes charm and character. The exterior features a welcoming façade, adding to its curb appeal. Inside, the layout is designed to provide a comfortable and functional living space. While specific interior details are not provided, the potential for customization and personalization allows you to create a home tailored to your needs. The property's location in East Gadsden provides convenient access to local amenities and services. Whether you're looking for a place to call home or an investment opportunity, this house is worth considering. Don't miss the chan

Key facts

• Curb appeal
• Welcoming façade
• 7,840 sq ft lot

Tags

• CLASSIC ARCHITECTURAL DESIGN
• WELCOMING FAÇADE
• CURB APPEAL
• POTENTIAL FOR CUSTOMIZATION

Property features AI

Finance

• Other: Living area approximately 1,766 square feet; Lot about 0.18 acres; Total rooms: 7
• HOA & community: No homeowners association; Subdivision: Lincoln Park

Exterior

• Parking: Concrete driveway
• Utilities: Public sewer
• Home design: Single-family residence; One story; Built in 1942; Residential property
• Construction: Brick construction
• Exterior features: Detached building; Driveway with concrete

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Window cooling (2+ units); No central heating
• Interior features: Crawl space; One fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $857 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Cap rate 23.5% 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 $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $59,900

Questions for the listing agent

1. Built in 1942 — 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: 2.66% ✓
• Cap rate: 23.46%
• Cash-on-cash: 61.31%
• DSCR: 3.73
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $123,620
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Greenwood Ave	0.46mi	4/2.0	1,795 (+2%)	3mo	$125,000	$70	73
920 Tomahawk Trl	0.62mi	3/2.0 (-1)	1,835 (+4%)	8mo	$150,000	$82	53
225 Davis St	0.19mi	3/2.0 (-1)	1,502 (-15%)	10mo	$82,297	$55	53
1107 Mallory St	0.56mi	3/2.0 (-1)	1,934 (+10%)	3mo	$153,800	$80	51
909 E Tomahawk Trl	0.64mi	3/2.0 (-1)	1,904 (+8%)	4mo	$112,302	$59	48
1524 Arrowhead Dr	0.59mi	3/2.0 (-1)	1,559 (-12%)	1mo	$137,000	$88	47
1641 Arrowhead Dr	0.62mi	4/2.0	1,516 (-14%)	1mo	$165,200	$109	47
1210 East Broad St	0.63mi	4/2.0	1,650 (-7%)	15mo	$110,000	$67	47
1316 Linden St	0.60mi	3/2.0 (-1)	1,553 (-12%)	2mo	$199,000	$128	45
1315 E Broad St	0.57mi	3/1.0 (-1)	1,504 (-15%)	3mo	$60,000	$40	37
318 Keeling Rd	0.73mi	4/4.0	1,693 (-4%)	17mo	$54,000	$32	37
1215 Tennessee Ave	0.61mi	3/2.0 (-1)	1,987 (+12%)	16mo	$67,500	$34	33

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: 60.2%
• Equity multiple: 3.68×
• Total profit: $44,886
• Equity at exit: $8,931

10-year hold

• IRR: 64.8%
• Equity multiple: 7.52×
• Total profit: $109,430
• Equity at exit: $5,179

Cash invested: $16,772 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$64 /mo · $768/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $857

Break-even live

Break-even rent $510

Max offer price $59,900

Occupancy floor 41%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $59,900 Active 8 DOM
2. 2026-06-18
   days on market $59,900 Active 7 DOM
3. 2026-06-17
   days on market $59,900 Active 6 DOM
4. 2026-06-16
   days on market $59,900 Active 5 DOM
5. 2026-06-15
   days on market $59,900 Active 4 DOM
6. 2026-06-14
   days on market $59,900 Active 2 DOM
7. 2026-06-12
   remarks 692-char remark
8. 2026-06-12
   listed $59,900 Active 1 DOM

ⓘ 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: $768 · $64/mo
• Projected year-2 tax: $768 · $64/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 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: $19,139
• − Mortgage interest: −$3,355
• − Property taxes: −$768
• − Insurance: −$300
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$1,743
• Taxable income: $9,911
• Est. tax owed @ 24.0%: −$2,379
• After-tax cash flow: $7,904/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

• 2026-06-11 Listed $59,900 VMLS

Property tax history

+11.7%/yr

Latest (2022): $768 · +30.4% YoY. Source: county tax records.