2317 SW State Ave · Decatur, AL 35601

$85,000

3 bd · 1.0 ba · 1,564 sqft · SingleFamily public records · 10 Days on market

Built 1948

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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
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

THIS HOME IS FULL OF POTENTiAL AND READY FOR THE RIGHT BUYER TO BRING THEIR VISION TO LIFE. FEATURING A UNIQUE LAYOUT THIS PROPERTY OFFERS A FANTASTIC OPPORTUNITY FOR RENOVATION, CUSTOMIZATION, OR INVESTMENT. WITH A LITTLE TLC, IT CAN TRULY SHINE! WHETHER YOUR AN INVESTOR OR BUYER LOOKING TO CREATE YOUR OWN SPACE, THIS HOME IS LOCATED IN AN ESTABLISHED AREA WITH CONVENIENT ACCESS TO LOCAL AMENITIES, SCHOOLS, AND SHOPPING, THE POSSIBILITIES HERE ARE ENDLESS. BEING SOLD AS IS! BRING YOUR CREATIVITY AND IMAGINE THE TRANSFORMATION! ALL FACTS TO BE VERIFIED BY PURCHASER!

Key facts

• Listed 10 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $630 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 15.2% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Austinville Elementary School (math 12% / reading 27%, grade F, #467 of 627 statewide, top 76%, 416 students, 88% FRL); Austin Middle School (math 18% / reading 39%, grade F, #138 of 257 statewide, top 54%, 714 students, 77% FRL); Austin High School (math 20% / reading 24%, grade F, #142 of 305 statewide, top 51%, 1,025 students, 66% FRL) — zoned schools average 77% FRL vs 57% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 225 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1948 — 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: 1.71% ✓
• Cap rate: 15.18%
• Cash-on-cash: 31.75%
• DSCR: 2.41
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $229,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
946 Tracey Ln SW	0.15mi	3/2.0	1,583 (+1%)	1mo	$239,900	$152	86
938 Tracey Ln SW	0.20mi	2/2.0 (-1)	1,572 (+0%)	4mo	$245,000	$156	77
936 Tracey Ln SW	0.21mi	3/2.0	1,636 (+5%)	3mo	$240,000	$147	76
992 Tracey Ln	0.29mi	2/2.0 (-1)	1,572 (+0%)	1mo	$237,000	$151	76
988 Tracey Ln	0.27mi	2/2.0 (-1)	1,534 (-2%)	3mo	$244,000	$159	73
945 Tracey Ln	0.21mi	3/2.0	1,705 (+9%)	4mo	$243,000	$143	68
2261 Graham Ave SW	0.36mi	2/1.0 (-1)	1,412 (-10%)	2mo	$99,900	$71	60
1612 Modaus Rd Sw SW	0.71mi	3/1.5	1,633 (+4%)	2mo	$179,900	$110	56
1820 Runnymead Ave SW	0.69mi	3/2.0	1,508 (-4%)	3mo	$215,000	$143	56
609 Bellemeade St SW	0.74mi	2/1.0 (-1)	1,475 (-6%)	3mo	$169,000	$115	48
705 Edgewood St SW	0.61mi	3/2.0	1,719 (+10%)	4mo	$140,000	$81	48
1704 Betty St SW	0.74mi	4/2.0 (+1)	1,466 (-6%)	3mo	$220,000	$150	44

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 28.4%
• Equity multiple: 2.21×
• Total profit: $28,790
• Equity at exit: $12,674

10-year hold

• IRR: 36.8%
• Equity multiple: 4.66×
• Total profit: $87,149
• Equity at exit: $7,349

Cash invested: $23,800 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 225
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,451 high
• Mortgage (P&I): −$446
• Tax from tax record: −$35 /mo · $426/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $630

Break-even live

Break-even rent $654

Max offer price $85,000

Occupancy floor 52%

Sensitivity live

Price	-10% $678	-5% $654	+0% $630	+5% $606	+10% $582
Rent	-10% $515	-5% $572	+0% $630	+5% $687	+10% $744
Rate	-1.0pp $673	-0.5pp $651	base $630	+0.5pp $608	+1.0pp $585

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2019 Morgan Ave SW Decatur, AL	4.0	2.0	1064	$1,650	$1.55	45d	1	0.36mi
1242 Beltline Rd SW Decatur, AL	1.0–3.0	1.0–2.0	1118	$1,150	$1.03	45d	5	0.37mi
1805 8th Ave SW Decatur, AL	3.0	2.0	1725	$1,750	$1.01	45d	1	0.68mi
2025 Danville Park Dr SW Decatur, AL	1.0–2.0	1.0–2.0	938	$1,325	$1.41	24d	8	0.88mi
1518 15th Ave SW Decatur, AL	3.0	2.0	1440	$1,600	$1.11	45d	1	0.92mi
206 Larkwood Dr SW Decatur, AL	4.0	2.0	1630	$1,500	$0.92	45d	1	1.15mi
2131 Westmead Dr SW Decatur, AL	2.0	1.5	1100	$1,100	$1.00	45d	1	1.21mi
2151 Westmead Dr SW Decatur, AL	2.0	2.5	1300	$1,445	$1.11	45d	1	1.22mi
2151 Westmead Dr SW Unit na Decatur, AL	2.0	1.5	1300	$1,445	$1.11	45d	1	1.22mi
305 Courtney Dr SW Decatur, AL	1.0–3.0	1.0–2.0	1200	$1,425	$1.19	45d	6	1.49mi

Listing history 2 events

1. 2026-01-20
   status Pending
2. 2026-01-09
   listed $85,000 Active

ⓘ 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: $426 · $35/mo
• Projected year-2 tax: $426 · $35/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,413
• − Mortgage interest: −$4,761
• − Property taxes: −$426
• − Insurance: −$425
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$2,473
• Taxable income: $6,542
• Est. tax owed @ 24.0%: −$1,570
• After-tax cash flow: $5,986/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

2 events — show timeline

• 2026-01-20 Pending — VMLS
• 2026-01-09 Listed $85,000 VMLS

Property tax history

+12.6%/yr

Latest (2025): $426 · +12.6% YoY. Source: county tax records.