1139 3rd Ave · Gadsden, AL 35901

$99,900

None bd · None ba · 2,236 sqft · MultiFamily · 77 Days on market

Built 1940 Poor condition 8,712 sqft lot $45/sqft · 24% below area Est $132k · 24% under

---

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 +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0
• 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

Downtown Gadsden duplex, tenant-occupied and ready for your investment portfolio! Each side offers 1 bedroom and 1 bath, providing strong rental potential. Conveniently located just minutes from shopping, dining, and all that downtown Gadsden has to offer. Great opportunity to own an income-producing property in a prime location!

Key facts

• Tenant-occupied
• Minutes from dining
• 8,712 sq ft lot

Tags

• DOWNTOWN GADSDEN DUPLEX
• TENANT-OCCUPIED
• STRONG RENTAL POTENTIAL
• MINUTES FROM SHOPPING
• MINUTES FROM DINING
• INCOME-PRODUCING PROPERTY

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$131,777) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1-bath units multifamily listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive. Per door: $339/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: schools C-, crime F, amenities 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.
• Market conditions: 151 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.73% ✓
• Cap rate: 14.45%
• Cash-on-cash: 29.12%
• DSCR: 2.30
• GRM: 4.8

CMA / ARV

• ARV (median comp): $131,777
• List price: $99,900
• Delta: -24.19%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.5%
• Equity multiple: 1.97×
• Total profit: $27,064
• Equity at exit: $14,895

10-year hold

• IRR: 31.4%
• Equity multiple: 3.84×
• Total profit: $79,333
• Equity at exit: $8,638

Cash invested: $27,972 (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 35901

• Home prices YoY: -9.9%
• Active inventory: 151
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,733 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $679

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 56%

Sensitivity live

Price	-10% $748	-5% $713	+0% $679	+5% $644	+10% $610
Rent	-10% $542	-5% $610	+0% $679	+5% $747	+10% $816
Rate	-1.0pp $729	-0.5pp $704	base $679	+0.5pp $653	+1.0pp $626

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,732
Total (2 units)			$1,733

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1229 Jupiter St Gadsden, AL	3.0	2.0	2034	$1,400	$0.69	44d	1	1.03mi

Listing history 17 events

1. 2026-06-19
   days on market $99,900 Active 77 DOM
2. 2026-06-18
   days on market $99,900 Active 76 DOM
3. 2026-06-17
   days on market $99,900 Active 75 DOM
4. 2026-06-16
   days on market $99,900 Active 74 DOM
5. 2026-06-15
   days on market $99,900 Active 73 DOM
6. 2026-06-14
   days on market $99,900 Active 71 DOM
7. 2026-06-12
   days on market $99,900 Active 70 DOM
8. 2026-06-09
   days on market $99,900 Active 67 DOM
9. 2026-06-08
   days on market $99,900 Active 66 DOM
10. 2026-06-07
    days on market $99,900 Active 65 DOM
11. 2026-06-07
    days on market $99,900 Active 64 DOM
12. 2026-06-04
    days on market $99,900 Active 61 DOM
13. 2026-06-02
    days on market $99,900 Active 60 DOM
14. 2026-06-01
    days on market $99,900 Active 59 DOM
15. 2026-05-31
    days on market $99,900 Active 58 DOM
16. 2026-05-31
    days on market $99,900 Active 57 DOM
17. 2026-04-03
    listed $99,900 Active 331-char remark

    Show marketing remark (331 chars)

    Downtown Gadsden duplex, tenant-occupied and ready for your investment portfolio! Each side offers 1 bedroom and 1 bath, providing strong rental potential. Conveniently located just minutes from shopping, dining, and all that downtown Gadsden has to offer. Great opportunity to own an income-producing property in a prime location!

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $20,796
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,664
• − Management: −$1,664
• − Depreciation: −$2,906
• Taxable income: $6,969
• Est. tax owed @ 24.0%: −$1,672
• After-tax cash flow: $6,472/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 · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to become move-in ready, significantly increasing its value for both resale and rental.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Aged appearance
• Major interior walls — Peeling paint
• Major bathrooms — No visible condition
• Major kitchen — No visible condition
• Major systems — No visible condition

Value-add opportunities

• Both exterior siding and roof replacement — Improves curb appeal and structural integrity
• Both interior painting and repairs — Enhances interior appearance and value
• Both bathroom and kitchen updates — Modernizes spaces and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
roof · Aged appearance	Major	$15,000–50,000
interior walls · Peeling paint	Major	$15,000–50,000
bathrooms · No visible condition	Major	$15,000–50,000
kitchen · No visible condition	Major	$15,000–50,000
systems · No visible condition	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both exterior siding and roof replacement — Improves curb appeal and structural integrity ↑
• Both interior painting and repairs — Enhances interior appearance and value ↑
• Both bathroom and kitchen updates — Modernizes spaces and increases 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: 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): 19,186

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 55% Black 32% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

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: ▼ -26.83%
• Current HPI: 243.6795
• 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

• 2026-04-03 Listed $99,900 VMLS