500 Grant Street St Unit D114 · Daphne, AL 36526

$149,000

2 bd · 1.5 ba · 873 sqft · SingleFamily · 106 Days on market

Built 1983 Good condition $171/sqft · 29% below area Est $210k · 29% under $21/mo HOA · 2% of rent

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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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Schools +4.4/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• 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.

Key facts

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

Tags

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

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family 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: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.0% 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); 764 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 106 days — a 9% lower offer ($136k) 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 $135,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 8.9

CMA / ARV

• ARV (median comp): $210,279
• List price: $149,000
• Delta: -29.14%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1000 D'olive Springs Dr Unit E-1	0.21mi	2/2.0	1,041 (+19%)	8mo	$225,000	$216	56
104 Golf Ter Unit 1B104	1.00mi	2/2.0	900 (+3%)	2mo	$142,000	$158	56
209 Golf Ter #209	1.00mi	2/2.0	900 (+3%)	5mo	$150,000	$167	54
4 Yacht Club Dr #180	0.82mi	2/2.0	972 (+11%)	6mo	$165,000	$170	39
2101 Seacliff Dr #2101	0.73mi	1/1.0 (-1)	951 (+9%)	9mo	$185,248	$195	37
4 Yacht Club Dr #202	0.82mi	2/2.0	1,010 (+16%)	3mo	$205,000	$203	35
6 Yacht Club Dr #109	0.73mi	1/1.5 (-1)	1,000 (+14%)	3mo	$130,000	$130	34
35 Summer Oaks Dr #35	1.38mi	2/1.5	1,074 (+23%)	9mo	$152,500	$142	33
4 Yacht Club Dr #154	0.82mi	2/2.0	1,035 (+19%)	7mo	$142,500	$138	32
4 Yacht Club Dr #134	0.82mi	2/2.0	1,035 (+19%)	8mo	$164,900	$159	32
4 Yacht Club Dr #174	0.82mi	2/2.0	1,080 (+24%)	8mo	$165,000	$153	31
4 Yacht Club Dr #166	0.82mi	2/2.0	1,040 (+19%)	11mo	$165,000	$159	29

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 · 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 1 under contract
• Months of supply: 66.0 mo (2%/mo absorbed)
• Median asking: $149,000 ($171/sqft)
• Median days on market: 106 d
• This list price: 27% of active listings are priced below it
• ARV vs active asking: +41.1% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 764
• 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
• Club membership (one-time): —
• 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	93d	2	0.03mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	70d	1	0.07mi
29100 N Main St Daphne, AL	1.0–2.0	1.0–2.0	576	$1,300	$2.26	93d	1	0.13mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,473	$1.55	62d	10	0.66mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	70d	1	0.72mi
2200 E Bay Dr Daphne, AL	1.0–2.0	1.0–2.0	925	$1,360	$1.47	70d	7	0.82mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	62d	24	1.14mi

Property features AI

Finance

• Other: Ownership: CondominiumZoning described as Single Family ResidenceTransfer fees apply
• HOA & community: Annual association fee ($250) covering common area insurance, grounds maintenance, common area taxes and poolCommunity outdoor pool (association)

Exterior

• Parking: Assigned parking
• Utilities: Total electric serviceDaphne Utilities and Riviera Utilities
• Home design: Attached condominiumOne levelResale conditionCondo structure
• Construction: Brick constructionSlab foundationComposition roofBuilding area about 873 square feet (agent measured)
• Exterior features: Covered patio or porchStorageBalcony approximately 8 x 10Few trees on the lotNo waterfront

Interior

• Kitchen: Electric rangeRefrigeratorKitchen 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 bathroomOne half bathroomPrimary bathroom with shower (shower only)
• Heating & cooling: Electric heatingCentral electric coolingCeiling fan(s)
• Interior features: No fireplaceUnfurnishedTile flooringLiving and dining in a combined living/dining/kitchen layoutLiving room approximately 12 x 19
• Laundry & utility: Electric water heater

HOA detail $21/mo · $252/yr

• Likely covers: pool

Listing history 50 events

1. 2026-08-08
   days on market $149,000 Active 106 DOM
2. 2026-08-07
   days on market $149,000 Active 105 DOM
3. 2026-08-06
   days on market $149,000 Active 104 DOM
4. 2026-08-05
   days on market $149,000 Active 103 DOM
5. 2026-08-04
   days on market $149,000 Active 102 DOM
6. 2026-08-03
   days on market $149,000 Active 101 DOM
7. 2026-07-31
   days on market $149,000 Active 98 DOM
8. 2026-07-30
   days on market $149,000 Active 97 DOM
9. 2026-07-29
   days on market $149,000 Active 96 DOM
10. 2026-07-27
    days on market $149,000 Active 94 DOM
11. 2026-07-25
    days on market $149,000 Active 92 DOM
12. 2026-07-24
    days on market $149,000 Active 91 DOM
13. 2026-07-23
    days on market $149,000 Active 90 DOM
14. 2026-07-22
    days on market $149,000 Active 89 DOM
15. 2026-07-21
    days on market $149,000 Active 88 DOM
16. 2026-07-18
    days on market $149,000 Active 85 DOM
17. 2026-07-16
    days on market $149,000 Active 83 DOM
18. 2026-07-16
    days on market $149,000 Active 82 DOM
19. 2026-07-14
    days on market $149,000 Active 81 DOM
20. 2026-07-13
    days on market $149,000 Active 80 DOM
21. 2026-07-12
    days on market $149,000 Active 79 DOM
22. 2026-07-11
    days on market $149,000 Active 78 DOM
23. 2026-07-10
    days on market $149,000 Active 77 DOM
24. 2026-07-09
    days on market $149,000 Active 76 DOM
25. 2026-07-08
    days on market $149,000 Active 75 DOM
26. 2026-07-07
    days on market $149,000 Active 74 DOM
27. 2026-07-06
    days on market $149,000 Active 73 DOM
28. 2026-07-05
    days on market $149,000 Active 72 DOM
29. 2026-07-04
    days on market $149,000 Active 71 DOM
30. 2026-07-03
    days on market $149,000 Active 70 DOM
31. 2026-07-02
    days on market $149,000 Active 69 DOM
32. 2026-07-01
    days on market $149,000 Active 68 DOM
33. 2026-06-30
    days on market $149,000 Active 67 DOM
34. 2026-06-29
    days on market $149,000 Active 66 DOM
35. 2026-06-28
    days on market $149,000 Active 65 DOM
36. 2026-06-28
    days on market $149,000 Active 64 DOM
37. 2026-06-27
    days on market $149,000 Active 63 DOM
38. 2026-06-25
    days on market $149,000 Active 61 DOM
39. 2026-06-23
    days on market $149,000 Active 59 DOM
40. 2026-06-21
    days on market $149,000 Active 58 DOM
41. 2026-06-19
    days on market $149,000 Active 56 DOM
42. 2026-06-18
    days on market $149,000 Active 55 DOM
43. 2026-06-17
    days on market $149,000 Active 54 DOM
44. 2026-06-16
    days on market $149,000 Active 53 DOM
45. 2026-06-15
    days on market $149,000 Active 52 DOM
46. 2026-06-14
    days on market $149,000 Active 50 DOM
47. 2026-06-13
    days on market $149,000 Active 49 DOM
48. 2026-06-10
    days on market $149,000 Active 47 DOM
49. 2026-06-09
    days on market $149,000 Active 46 DOM
50. 2026-06-08
    days on market $149,000 Active 45 DOM

ⓘ 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 Est. rehab $4,365–$13,095 screening

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 ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Daphne Elementary School D- AL #142/627 Nat'l #14,504/41,679 Middle Daphne Middle School D AL #45/257 Nat'l #5,067/14,009 High Daphne High School F AL #33/305 Nat'l #8,052/17,239

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

B Composite livability gradescore 75/100

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 · 248,264 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: 8% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• Other: Ownership: CondominiumZoning described as Single Family ResidenceTransfer fees apply
• HOA & community: Annual association fee ($250) covering common area insurance, grounds maintenance, common area taxes and poolCommunity outdoor pool (association)

Exterior

• Parking: Assigned parking
• Utilities: Total electric serviceDaphne Utilities and Riviera Utilities
• Home design: Attached condominiumOne levelResale conditionCondo structure
• Construction: Brick constructionSlab foundationComposition roofBuilding area about 873 square feet (agent measured)
• Exterior features: Covered patio or porchStorageBalcony approximately 8 x 10Few trees on the lotNo waterfront

Interior

• Kitchen: Electric rangeRefrigeratorKitchen 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 bathroomOne half bathroomPrimary bathroom with shower (shower only)
• Heating & cooling: Electric heatingCentral electric coolingCeiling fan(s)
• Interior features: No fireplaceUnfurnishedTile flooringLiving and dining in a combined living/dining/kitchen layoutLiving room approximately 12 x 19
• Laundry & utility: Electric water heater

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