500 Grant St Unit D114 · Daphne, AL 36526

$149,000

2 bd · 1.5 ba · 873 sqft · Condo · 58 Days on market

Built 1983 Good condition $171/sqft · 10% above area Est $136k · 10% over $21/mo HOA · 2% of rent

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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 +15.0/30.0
• DSCR +4.6/10.0
• 1% rule +4.3/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• ARV discount +3.2/15.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Just minutes from I10 with an easy commute to Mobile or Pensacola, this home offers convenience to restaurants, shopping, entertainment, and more. The spacious living and dining area is open and inviting, perfect for everyday living or entertaining. Enjoy a wonderful, covered deck right off the main living space, ideal for relaxing or hosting guests. The primary bedroom features a large walk-in closet and a vanity area separate from the shower and toilet room for added privacy. A second bedroom is conveniently located near an additional bath that connects to the shower and toilet area. The community also features a pool for residents to enjoy. Buyer to verify all information during due dili

Key facts

• Covered deck
• Community pool
• Large walk-in closet

Tags

• COVERED DECK
• LARGE WALK-IN CLOSET
• VANITY AREA
• COMMUNITY POOL

Property features AI

Finance

• Other: Ownership: Condominium; Zoning described as Single Family Residence; Transfer fees apply
• HOA & community: Annual association fee ($250) covering common area insurance, grounds maintenance, common area taxes and pool; Community outdoor pool (association)

Exterior

• Parking: Assigned parking
• Utilities: Total electric service; Daphne Utilities and Riviera Utilities
• Home design: Attached condominium; One level; Resale condition; Condo structure
• Construction: Brick construction; Slab foundation; Composition roof; Building area about 873 square feet (agent measured)
• Exterior features: Covered patio or porch; Storage; Balcony approximately 8 x 10; Few trees on the lot; No waterfront

Interior

• Kitchen: Electric range; Refrigerator; Kitchen approximately 8 x 10
• Bedrooms: Primary bedroom on main level with walk-in closet (approx. 13 x 12); Second bedroom (approx. 11 x 9)
• Flooring: Tile
• Bathrooms: One full bathroom; One half bathroom; Primary bathroom with shower (shower only)
• Heating & cooling: Electric heating; Central electric cooling; Ceiling fan(s)
• Interior features: No fireplace; Unfurnished; Tile flooring; Living and dining in a combined living/dining/kitchen layout; Living room approximately 12 x 19
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $149k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $46 ($553/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (6.8% below list).
• Recommended offer: $139k (6.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.9% in Daphne — 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 75/100 on livability (#18 in AL, #3,949 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: amenities F, commute F.
• 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: Daphne Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 693 students, 53% FRL); Daphne Middle School (math 25% / reading 62%, grade D, #45 of 257 statewide, top 18%, 846 students, 45% FRL); Daphne High School (math 41% / reading 40%, grade F, #33 of 305 statewide, top 11%, 1,725 students, 40% FRL).
• Market conditions: Rents rising (+1.7%/yr); 600 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $4k 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 58 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,837 (6.8% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
6. 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?
7. 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.
8. 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.
9. 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: 0.93% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 8.9

CMA / ARV

• ARV (median comp): $135,941
• List price: $149,000
• Delta: 9.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -15.6%
• Equity multiple: 0.45×
• Total profit: $-22,940
• Equity at exit: $22,216

10-year hold

• IRR: -9.6%
• Equity multiple: 0.45×
• Total profit: $-23,117
• Equity at exit: $12,883

Cash invested: $41,720 (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 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 600
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,388 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$21
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $46

Break-even live

Break-even rent $1,330

Max offer price $149,000

Occupancy floor 92%

Sensitivity live

Price	-10% $149	-5% $98	+0% $46	+5% $-5	+10% $-57
Rent	-10% $-64	-5% $-9	+0% $46	+5% $101	+10% $156
Rate	-1.0pp $121	-0.5pp $84	base $46	+0.5pp $7	+1.0pp $-32

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Grant St Daphne, AL	2.0	1.0–1.5	876	$1,300	$1.48	46d	2	0.03mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	23d	1	0.07mi
29100 N Main St Daphne, AL	1.0–2.0	1.0–2.0	576	$1,300	$2.26	46d	1	0.13mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,473	$1.55	15d	10	0.66mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	23d	1	0.72mi
2200 E Bay Dr Daphne, AL	1.0–2.0	1.0–2.0	925	$1,360	$1.47	23d	7	0.82mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	15d	24	1.14mi

HOA detail condo

• Monthly dues: $21 · $252/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $149,000 Active 58 DOM
2. 2026-06-19
   days on market $149,000 Active 56 DOM
3. 2026-06-18
   days on market $149,000 Active 55 DOM
4. 2026-06-17
   days on market $149,000 Active 54 DOM
5. 2026-06-16
   days on market $149,000 Active 53 DOM
6. 2026-06-15
   days on market $149,000 Active 52 DOM
7. 2026-06-14
   days on market $149,000 Active 50 DOM
8. 2026-06-13
   days on market $149,000 Active 49 DOM
9. 2026-06-10
   days on market $149,000 Active 47 DOM
10. 2026-06-09
    days on market $149,000 Active 46 DOM
11. 2026-06-08
    days on market $149,000 Active 45 DOM
12. 2026-06-07
    days on market $149,000 Active 44 DOM
13. 2026-06-05
    days on market $149,000 Active 41 DOM
14. 2026-06-03
    days on market $149,000 Active 40 DOM
15. 2026-06-02
    days on market $149,000 Active 39 DOM
16. 2026-06-01
    days on market $149,000 Active 38 DOM
17. 2026-05-31
    days on market $149,000 Active 37 DOM
18. 2026-05-30
    days on market $149,000 Active 36 DOM
19. 2026-04-24
    listed $149,000 Active 705-char remark
20. 2026-01-22
    historical $1,120
21. 2026-01-22
    listed $1,120
22. 2025-12-18
    historical $1,095
23. 2025-12-18
    listed $1,095
24. 2025-10-18
    historical $1,100
25. 2025-10-17
    listed $1,100

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,660
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − HOA: −$252
• − Depreciation: −$4,335
• Taxable loss: −$1,918
• Est. tax savings @ 24.0%: +$460
• After-tax cash flow: $1,014/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 · 12 photos

Good 75/100 Cosmetic rehab

This multi-family unit is in good condition with minimal repairs needed. Painting and landscaping improvements can significantly enhance its value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Aesthetic upgrades can attract more buyers/renters
• Both HVAC maintenance — A clean and efficient HVAC system improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Aesthetic upgrades can attract more buyers/renters ↑
• Both HVAC maintenance — A clean and efficient HVAC system improves comfort and energy efficiency ↑

ⓘ 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: 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 — Daphne

• Score: 75/100
• State rank: #18
• US rank: #3949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daphne, AL
• County: Baldwin County · 181,514 people
• City population: 36,484
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 36,484
• Household income: $88,750
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 535.0

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 (78%)
• Race & ethnicity: White 78% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

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: ▼ -61.47%
• Current HPI: 227.2692
• Rent YoY: ▲ 1.72%
• 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

+13445.5% since first listed

7 events — show timeline

• 2026-04-24 Listed $149,000 BCAR
• 2026-01-22 Rental Removed $1,120 BCAR
• 2026-01-22 Listed for Rent $1,120 BCAR
• 2025-12-18 Rental Removed $1,095 BCAR
• 2025-12-18 Listed for Rent $1,095 BCAR
• 2025-10-18 Rental Removed $1,100 BCAR
• 2025-10-17 Listed for Rent $1,100 BCAR