1518 County Road 35 · Midway, AL 36089

$119,900

4 bd · 2.0 ba · 1,900 sqft · Manufactured · 212 Days on market

Built 2014 1.00 ac lot $63/sqft · at area comps Est $118k · at est. ↓ 14% since listing

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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 +25.5/30.0
• DSCR +8.4/10.0
• Appreciation +6.9/10.0
• ARV discount +6.8/15.0
• 1% rule +5.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.1/5.0
• Schools +1.8/10.0

Listing remarks MLS

Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

Key facts

• Shed
• Open concept
• En suite

Tags

• LARGE ACRE LOT
• MATURE TREES
• OPEN CONCEPT
• BACK PORCH
• EN SUITE
• SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 41/100 on livability (#568 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Bullock County (town): math 18% / reading 17% proficiency, ranked #130 of 133 in AL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($829 loan paydown + $4k appreciation (3.7% local appreciation)).
• Bullock County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.08%
• Cash-on-cash: 9.95%
• DSCR: 1.44
• GRM: 7.7

CMA / ARV

• ARV (median comp): $118,000
• List price: $119,900
• Delta: 1.61%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1518 County Road 35	0.00mi	4/2.0	1,900 (0%)	1mo	$118,000	$62	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.71% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 2.09×
• Total profit: $36,732
• Equity at exit: $58,799

10-year hold

• IRR: 19.3%
• Equity multiple: 3.99×
• Total profit: $100,391
• Equity at exit: $94,613

Cash invested: $33,572 (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 36089

• Home prices YoY: 2.4%
• Active inventory: 7
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,303 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$73 /mo · $871/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $278

Break-even live

Break-even rent $951

Max offer price $119,900

Occupancy floor 74%

Sensitivity live

Price	-10% $346	-5% $312	+0% $278	+5% $244	+10% $210
Rent	-10% $175	-5% $227	+0% $278	+5% $330	+10% $381
Rate	-1.0pp $339	-0.5pp $309	base $278	+0.5pp $247	+1.0pp $216

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-07
   status Pending 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

2. 2026-04-22
   price $119,900 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

3. 2026-03-05
   status Active 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

4. 2026-02-24
   status Pending 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

5. 2025-12-18
   price $129,900 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

6. 2025-12-01
   status Active 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

7. 2025-10-27
   historical Active Under Contract 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

8. 2025-09-19
   status Pending 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

9. 2025-08-20
   listed $139,900 Active 751-char remark

   Show marketing remark (751 chars)

   Welcome to 1518 CR 35 in Union Springs - an updated, 4 bed 2 bath home built in 2014. Tucked away on the large acre lot with mature, beautiful trees providing the perfect shade for enjoying the yard, this home offers ample space and an open concept for functional living and entertaining. Right inside you’ll find the living area which flows into the dining and kitchen. The kitchen opens up to the laundry room and from there you can step onto the back porch and enjoy views. The primary offers a nice en suite, & large closet. The three other bedrooms are generous in size with carpet. A shed is located on the property for even more storage or work space for hobbies. This is a great home at a great price, on a beautiful large acre lot!

ⓘ 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: $871 · $73/mo
• Projected year-2 tax: $871 · $73/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,640
• − Mortgage interest: −$6,716
• − Property taxes: −$871
• − Insurance: −$600
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$3,488
• Taxable income: $1,462
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $2,988/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: Bullock County
• NCES district ID: 0100480
• Math proficiency: 18% ▲ 4.00%
• Reading proficiency: 17% ▼ -1.00%
• Median HH income: $33,373
• Composite: 17.6/100
• National rank: #14126
• State rank: #130 of 133 in AL

Livability — Midway

• Score: 41/100
• State rank: #568
• US rank: #27116

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,401

Population outlook (Bullock County) Hauer SSP2

• Today (2025): 9,799 people
• By 2030: 9,384 · -4.2%
• By 2040: 8,575 · -12.5%
• By 2050: 7,814 · -20.3%
• By 2075: 5,722 · -41.6%
• By 2100: 3,852 · -60.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (73%)
• Race & ethnicity: Black 73% White 18% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 4%
• Foreign-born: 3% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Bullock

• 2024 margin: Solid D (+45.8) · D 72.7% · R 26.8%
• 2008→2024 swing: -2.5pp toward R · 2008: 48.4pp · 2024: 45.8pp
• All cycles: 2024: D+45.8 2020: D+49.9 2016: D+50.9 2012: D+52.8 2008: D+48.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.71%
• Current HPI: 161.0444
• 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

-14.3% since first listed

9 events — show timeline

• 2026-05-07 Pending — LCMLS
• 2026-04-22 Price Changed $119,900 LCMLS
• 2026-03-05 Relisted — LCMLS
• 2026-02-24 Pending — LCMLS
• 2025-12-18 Price Changed $129,900 LCMLS
• 2025-12-01 Relisted — LCMLS
• 2025-10-27 Contingent — LCMLS
• 2025-09-19 Pending — LCMLS
• 2025-08-20 Listed $139,900 LCMLS

Property tax history

+31.6%/yr

Latest (2023): $871 · +0.0% YoY. Source: county tax records.