32234 Calder Ct · Spanish Fort, AL 36527

$354,900

5 bd · 3.0 ba · 2,480 sqft · SingleFamily public records · 82 Days on market

Built 2022 8,407 sqft lot $143/sqft · at area comps Est $361k · at est. $42/mo HOA · 2% of rent

---

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 +11.5/30.0
• ARV discount +8.3/15.0
• Rent growth +4.1/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to 32234 Calder Court! This spacious 5-bedroom, 3-bathroom property is located in Churchill Subdivision of Spanish Fort. Upon entering, you are greeted by a long foyer that opens into the home’s inviting open-concept living space. The kitchen features painted cabinets, granite countertops, beautiful subway tile, walk-in pantry, and a breakfast bar. A secondary bedroom and a full bathroom is conveniently located on the main level. Upstairs, you’ll find the primary suite complete with a large walk-in closet. The primary bathroom includes dual vanities, a soaking tub with a TV mounted to watch your favorite shows while soaking, and a separate shower. Additional bedrooms are spacious and share a full bathroom just down the hall. Off of the living space you will find an extended back deck overlooking the yard that backs up to woods. This home is built GOLD FORTIFIED!! The neighborhood offers a pool and playground for you to enjoy!!!! Buyer to verify all information during due diligence.

Key facts

• Painted cabinets
• Granite countertops
• Walk in pantry

Tags

• OPEN CONCEPT LIVING SPACE
• PAINTED CABINETS
• GRANITE COUNTERTOPS
• WALK IN PANTRY
• BREAKFAST BAR
• LARGE WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (26.9% below list).
• Recommended offer: $260k (26.9% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.5% in Spanish Fort — 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 73/100 on livability (#26 in AL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rockwell Elementary School (math 46% / reading 76%, grade B, #60 of 627 statewide, top 9%, 724 students, 25% FRL); Spanish Fort Middle School (math 38% / reading 70%, grade B-, #20 of 257 statewide, top 8%, 622 students, 28% FRL); Spanish Fort High School (math 44% / reading 44%, grade F, #25 of 305 statewide, top 8%, 1,188 students, 24% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 332 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $259,581 (26.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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?
8. 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.
9. 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.
10. 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: 0.73% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.40%
• DSCR: 0.94
• GRM: 11.4

CMA / ARV

• ARV (median comp): $361,269
• List price: $354,900
• Delta: -1.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
31691 Bramshell Dr	0.55mi	5/3.0	2,409 (-3%)	1mo	$486,250	$202	69
12235 Exbury Way	0.55mi	4/3.0 (-1)	2,527 (+2%)	3mo	$595,000	$235	64
12151 Exbury Way	0.60mi	4/3.0 (-1)	2,524 (+2%)	3mo	$579,900	$230	62
11491 Arlington Blvd	0.62mi	4/2.5 (-1)	2,368 (-4%)	1mo	$400,000	$169	56
31872 Marvanna Dr	0.72mi	4/3.0 (-1)	2,527 (+2%)	3mo	$606,000	$240	56
11616 Thistledown Loop	0.64mi	4/3.0 (-1)	2,304 (-7%)	3mo	$435,000	$189	51
12654 Squirrel Dr	0.70mi	4/3.0 (-1)	2,336 (-6%)	4mo	$395,000	$169	49
31709 Bramshell Dr	0.53mi	4/3.5 (-1)	2,785 (+12%)	1mo	$495,000	$178	47
11723 Thistledown Loop	0.64mi	4/2.0 (-1)	2,314 (-7%)	4mo	$437,500	$189	47
11528 Thistledown Loop	0.59mi	4/3.5 (-1)	2,785 (+12%)	3mo	$505,232	$181	43
31890 Marvanna Dr	0.71mi	4/3.5 (-1)	2,687 (+8%)	4mo	$610,822	$227	42
11181 Thistledown Loop	0.53mi	4/2.0 (-1)	2,142 (-14%)	3mo	$410,000	$191	41

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 · 6.52% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.44×
• Total profit: $-55,536
• Equity at exit: $52,917

10-year hold

• IRR: -2.2%
• Equity multiple: 0.83×
• Total profit: $-16,460
• Equity at exit: $30,685

Cash invested: $99,372 (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 36527

• Home prices YoY: -14.4%
• Rents YoY: 6.5%
• Active inventory: 332
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,596 medium
• Mortgage (P&I): −$1,861
• Tax from tax record: −$116 /mo · $1,392/yr
• Insurance: −$148
• HOA: −$42
• Vacancy / Maint / Mgmt: −$545
• Net cashflow: $-116

Break-even live

Break-even rent $2,743

Max offer price $334,352

Occupancy floor 99%

Sensitivity live

Price	-10% $85	-5% $-16	+0% $-116	+5% $-217	+10% $-317
Rent	-10% $-321	-5% $-219	+0% $-116	+5% $-14	+10% $89
Rate	-1.0pp $62	-0.5pp $-26	base $-116	+0.5pp $-208	+1.0pp $-302

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: $88,725
• Closing costs: $10,647
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31566 Spoonbill Rd Daphne, AL	4.0	3.0	2970	$2,800	$0.94	15d	1	1.07mi
31399 Spoonbill Rd Daphne, AL	4.0	3.5	2567	$2,995	$1.17	23d	1	1.13mi
31573 Shearwater Dr Daphne, AL	4.0	2.0	1830	$1,995	$1.09	23d	1	1.19mi
11801 Balsam Ct Daphne, AL	4.0	2.0	1783	$2,195	$1.23	23d	1	1.35mi

HOA detail

• Monthly dues: $42 · $504/yr
• Likely covers: pool

Listing history 27 events

1. 2026-06-21
   days on market $354,900 Active 82 DOM
2. 2026-06-19
   days on market $354,900 Active 80 DOM
3. 2026-06-18
   days on market $354,900 Active 79 DOM
4. 2026-06-17
   days on market $354,900 Active 78 DOM
5. 2026-06-16
   days on market $354,900 Active 77 DOM
6. 2026-06-15
   days on market $354,900 Active 76 DOM
7. 2026-06-14
   days on market $354,900 Active 74 DOM
8. 2026-06-13
   days on market $354,900 Active 73 DOM
9. 2026-06-10
   days on market $354,900 Active 71 DOM
10. 2026-06-09
    days on market $354,900 Active 70 DOM
11. 2026-06-08
    days on market $354,900 Active 69 DOM
12. 2026-06-07
    days on market $354,900 Active 68 DOM
13. 2026-06-05
    days on market $354,900 Active 65 DOM
14. 2026-06-03
    days on market $354,900 Active 64 DOM
15. 2026-06-02
    days on market $354,900 Active 63 DOM
16. 2026-06-01
    days on market $354,900 Active 62 DOM
17. 2026-05-31
    days on market $354,900 Active 61 DOM
18. 2026-05-30
    days on market $354,900 Active 60 DOM
19. 2026-05-13
    price $354,900 1027-char remark

    Show marketing remark (1027 chars)

    Welcome home to 32234 Calder Court! This spacious 5-bedroom, 3-bathroom property is located in Churchill Subdivision of Spanish Fort. Upon entering, you are greeted by a long foyer that opens into the home’s inviting open-concept living space. The kitchen features painted cabinets, granite countertops, beautiful subway tile, walk-in pantry, and a breakfast bar. A secondary bedroom and a full bathroom is conveniently located on the main level. Upstairs, you’ll find the primary suite complete with a large walk-in closet. The primary bathroom includes dual vanities, a soaking tub with a TV mounted to watch your favorite shows while soaking, and a separate shower. Additional bedrooms are spacious and share a full bathroom just down the hall. Off of the living space you will find an extended back deck overlooking the yard that backs up to woods. This home is built GOLD FORTIFIED!! The neighborhood offers a pool and playground for you to enjoy!!!! Buyer to verify all information during due diligence.

20. 2026-03-31
    listed $359,900 Active 1027-char remark

    Show marketing remark (1027 chars)

    Welcome home to 32234 Calder Court! This spacious 5-bedroom, 3-bathroom property is located in Churchill Subdivision of Spanish Fort. Upon entering, you are greeted by a long foyer that opens into the home’s inviting open-concept living space. The kitchen features painted cabinets, granite countertops, beautiful subway tile, walk-in pantry, and a breakfast bar. A secondary bedroom and a full bathroom is conveniently located on the main level. Upstairs, you’ll find the primary suite complete with a large walk-in closet. The primary bathroom includes dual vanities, a soaking tub with a TV mounted to watch your favorite shows while soaking, and a separate shower. Additional bedrooms are spacious and share a full bathroom just down the hall. Off of the living space you will find an extended back deck overlooking the yard that backs up to woods. This home is built GOLD FORTIFIED!! The neighborhood offers a pool and playground for you to enjoy!!!! Buyer to verify all information during due diligence.

21. 2022-03-17
    soldstatus $319,570 Closed 936-char remark

    Show marketing remark (936 chars)

    With a contract written before/on 12/19- Receive $7500 toward closing cost and options--- Beautiful 5/3 Robie with lots of upgrades including Granite in the master and bathrooms, kitchen also has granite and painted cabinets, LVP flooring and more! Spanish ft. schools! Just Minutes from the Malbis mall area with shopping, movies and dining! * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) * * * Pictures are of similar home and not necessarily of subject property, including interior and exterior colors, options, and finishes.

22. 2022-03-11
    soldstatus $319,570 Closed
23. 2022-02-10
    status Pending
24. 2022-01-20
    price $318,070
25. 2022-01-19
    listed $316,900 Active
26. 2021-12-15
    status Pending 936-char remark

    Show marketing remark (936 chars)

    With a contract written before/on 12/19- Receive $7500 toward closing cost and options--- Beautiful 5/3 Robie with lots of upgrades including Granite in the master and bathrooms, kitchen also has granite and painted cabinets, LVP flooring and more! Spanish ft. schools! Just Minutes from the Malbis mall area with shopping, movies and dining! * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) * * * Pictures are of similar home and not necessarily of subject property, including interior and exterior colors, options, and finishes.

27. 2021-11-29
    listed $313,900 Active 936-char remark

    Show marketing remark (936 chars)

    With a contract written before/on 12/19- Receive $7500 toward closing cost and options--- Beautiful 5/3 Robie with lots of upgrades including Granite in the master and bathrooms, kitchen also has granite and painted cabinets, LVP flooring and more! Spanish ft. schools! Just Minutes from the Malbis mall area with shopping, movies and dining! * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) * * * Pictures are of similar home and not necessarily of subject property, including interior and exterior colors, options, and finishes.

ⓘ 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: $1,392 · $116/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$63/yr (+$5/mo · 4.5%)

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,150
• − Mortgage interest: −$19,880
• − Property taxes: −$1,392
• − Insurance: −$1,774
• − Repairs & maintenance: −$2,492
• − Management: −$2,492
• − HOA: −$504
• − Depreciation: −$10,324
• Taxable loss: −$7,709
• Est. tax savings @ 24.0%: +$1,850
• After-tax cash flow: $454/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Spanish Fort

• Score: 73/100
• State rank: #26
• US rank: #5408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Fort, AL
• County: Baldwin County · 181,514 people
• City population: 21,765
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 21,765
• Household income: $120,189
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 378.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 8% Black 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica, South Korea
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.56%
• Current HPI: 234.5113
• Rent YoY: ▲ 6.52%
• Metro: Daphne-Fairhope-Foley, 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

+13.1% since first listed

9 events — show timeline

• 2026-05-13 Price Changed $354,900 BCAR
• 2026-03-31 Listed $359,900 BCAR
• 2022-03-17 Sold (MLS) $319,570 BCAR
• 2022-03-11 Sold (MLS) $319,570 BCAR
• 2022-02-10 Pending — BCAR
• 2022-01-20 Price Changed $318,070 BCAR
• 2022-01-19 Listed $316,900 BCAR
• 2021-12-15 Pending — BCAR
• 2021-11-29 Listed $313,900 BCAR

Property tax history

+56.2%/yr

Latest (2025): $1,392 · -45.4% YoY. Source: county tax records.