2026 Highview Way · Calera, AL 35040

$220,000

3 bd · 2.0 ba · 1,628 sqft · SingleFamily public records · 101 Days on market

Built 2007 7,405 sqft lot $135/sqft · 22% below area Est $283k · 22% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +3.9/10.0
• DSCR +3.7/10.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SOLD AS IS TRANSACTION SHORT SALE!!!!!! 1-level living! Located just a couple of miles from 65 in the Waterford community of Calera! This home sits on a quiet street w/ a large flat back yard! 3 bedrooms, 2 full baths! The family room is huge and features a beautiful tile surround gas fireplace. The kitchen has plenty of cabinets, a pantry, an eating area, a fridge and opens to a nice, covered patio. This home features a split-bedroom floor plan! The master bedroom has vaulted ceilings & the bath offers sep. vanities, sep. garden tub/shower, sep walk-in closets & new lighting! Other features include new flooring, fresh neutral paint colors & recessed lighting

Key facts

• Large flat back yard
• Sep vanities
• Covered patio

Tags

• 1 LEVEL LIVING
• LARGE FLAT BACK YARD
• TILE SURROUND GAS FIREPLACE
• COVERED PATIO
• SPLIT-BEDROOM FLOOR PLAN
• SEP VANITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-35 ($-418/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (17.5% below list).
• Recommended offer: $181k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.5% in Calera — 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 59/100 on livability (#325 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 374 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $19k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,422 (17.5% 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 101 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 0.82% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 10.1

CMA / ARV

• ARV (median comp): $282,587
• List price: $220,000
• Delta: -22.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2053 Highview Way	0.08mi	3/2.0	1,762 (+8%)	1mo	$252,000	$143	82
188 Waterford Lake Dr	0.46mi	3/2.0	1,651 (+1%)	2mo	$269,999	$164	74
1340 Kensington Blvd	0.36mi	3/2.0	1,736 (+7%)	2mo	$283,000	$163	70
487 Waterford Dr	0.20mi	3/2.0	1,447 (-11%)	2mo	$254,000	$176	70
2064 Highview Way	0.10mi	4/3.0 (+1)	1,774 (+9%)	6mo	$254,900	$144	66
2202 Village Ln	0.61mi	3/2.5	1,655 (+2%)	2mo	$235,000	$142	65
327 Waterford Cove Trl	0.32mi	3/2.0	1,772 (+9%)	6mo	$262,500	$148	65
1121 Village Trl	0.48mi	3/2.0	1,486 (-9%)	5mo	$218,000	$147	59
286 Village Dr	0.52mi	3/2.5	1,491 (-8%)	3mo	$225,000	$151	57
1272 Kensington Blvd	0.51mi	4/2.0 (+1)	1,790 (+10%)	2mo	$265,000	$148	53
1278 Village Trl	0.69mi	3/2.0	1,486 (-9%)	3mo	$224,000	$151	51
1262 Village Trl	0.67mi	3/2.0	1,417 (-13%)	3mo	$190,000	$134	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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-36,639
• Equity at exit: $32,803

10-year hold

• IRR: -7.4%
• Equity multiple: 0.52×
• Total profit: $-29,657
• Equity at exit: $19,022

Cash invested: $61,600 (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 35040

• Home prices YoY: -16.5%
• Rents YoY: 3.7%
• Active inventory: 374
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,814 medium
• Mortgage (P&I): −$1,154
• Tax from tax record: −$223 /mo · $2,672/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-35

Break-even live

Break-even rent $1,858

Max offer price $213,853

Occupancy floor 97%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2045 Highview Way Calera, AL	3.0	2.0	1556	$1,695	$1.09	3d	1	0.05mi
138 Village Dr Calera, AL	3.0	2.0	1406	$1,511	$1.07	3d	1	0.41mi
10 Kensington Manor Dr Calera, AL	1.0–2.0	1.0–2.0	1058	$2,147	$2.03	2d	1	0.72mi

Listing history 37 events

1. 2026-06-18
   days on market $220,000 Active 101 DOM
2. 2026-06-17
   days on market $220,000 Active 100 DOM
3. 2026-06-16
   days on market $220,000 Active 99 DOM
4. 2026-06-15
   days on market $220,000 Active 98 DOM
5. 2026-06-13
   days on market $220,000 Active 96 DOM
6. 2026-06-13
   days on market $220,000 Active 95 DOM
7. 2026-06-10
   days on market $220,000 Active 93 DOM
8. 2026-06-09
   days on market $220,000 Active 92 DOM
9. 2026-06-08
   days on market $220,000 Active 91 DOM
10. 2026-06-07
    days on market $220,000 Active 90 DOM
11. 2026-06-05
    days on market $220,000 Active 87 DOM
12. 2026-06-03
    days on market $220,000 Active 86 DOM
13. 2026-06-02
    days on market $220,000 Active 85 DOM
14. 2026-06-01
    days on market $220,000 Active 84 DOM
15. 2026-05-31
    days on market $220,000 Active 83 DOM
16. 2026-05-19
    price $220,000 686-char remark

    Show marketing remark (686 chars)

    SOLD AS IS TRANSACTION SHORT SALE!!!!!! 1-level living! Located just a couple of miles from 65 in the Waterford community of Calera! This home sits on a quiet street w/ a large flat back yard! 3 bedrooms, 2 full baths! The family room is huge and features a beautiful tile surround gas fireplace. The kitchen has plenty of cabinets, a pantry, an eating area, a fridge and opens to a nice, covered patio. This home features a split-bedroom floor plan! The master bedroom has vaulted ceilings & the bath offers sep. vanities, sep. garden tub/shower, sep walk-in closets & new lighting! Other features include new flooring, fresh neutral paint colors & recessed lighting

17. 2026-04-07
    price $229,000 686-char remark

    Show marketing remark (686 chars)

    SOLD AS IS TRANSACTION SHORT SALE!!!!!! 1-level living! Located just a couple of miles from 65 in the Waterford community of Calera! This home sits on a quiet street w/ a large flat back yard! 3 bedrooms, 2 full baths! The family room is huge and features a beautiful tile surround gas fireplace. The kitchen has plenty of cabinets, a pantry, an eating area, a fridge and opens to a nice, covered patio. This home features a split-bedroom floor plan! The master bedroom has vaulted ceilings & the bath offers sep. vanities, sep. garden tub/shower, sep walk-in closets & new lighting! Other features include new flooring, fresh neutral paint colors & recessed lighting

18. 2026-03-23
    price $235,000 686-char remark

    Show marketing remark (686 chars)

    SOLD AS IS TRANSACTION SHORT SALE!!!!!! 1-level living! Located just a couple of miles from 65 in the Waterford community of Calera! This home sits on a quiet street w/ a large flat back yard! 3 bedrooms, 2 full baths! The family room is huge and features a beautiful tile surround gas fireplace. The kitchen has plenty of cabinets, a pantry, an eating area, a fridge and opens to a nice, covered patio. This home features a split-bedroom floor plan! The master bedroom has vaulted ceilings & the bath offers sep. vanities, sep. garden tub/shower, sep walk-in closets & new lighting! Other features include new flooring, fresh neutral paint colors & recessed lighting

19. 2026-03-09
    listed $239,000 Active 686-char remark

    Show marketing remark (686 chars)

    SOLD AS IS TRANSACTION SHORT SALE!!!!!! 1-level living! Located just a couple of miles from 65 in the Waterford community of Calera! This home sits on a quiet street w/ a large flat back yard! 3 bedrooms, 2 full baths! The family room is huge and features a beautiful tile surround gas fireplace. The kitchen has plenty of cabinets, a pantry, an eating area, a fridge and opens to a nice, covered patio. This home features a split-bedroom floor plan! The master bedroom has vaulted ceilings & the bath offers sep. vanities, sep. garden tub/shower, sep walk-in closets & new lighting! Other features include new flooring, fresh neutral paint colors & recessed lighting

20. 2025-07-17
    price $246,000
21. 2025-07-12
    price $247,000
22. 2025-07-10
    price $248,000
23. 2025-05-19
    price $249,900
24. 2025-05-17
    price $254,000
25. 2025-05-12
    price $255,000
26. 2025-05-07
    price $258,000
27. 2025-04-18
    price $259,000
28. 2025-04-05
    price $265,000
29. 2024-03-25
    soldstatus $244,500
30. 2024-03-22
    soldstatus $244,500 Sold
31. 2024-02-20
    historical Contingent
32. 2024-02-09
    listed $239,900 Active
33. 2023-08-23
    price $249,900
34. 2023-07-19
    price $259,900
35. 2023-02-17
    soldstatus $158,600
36. 2022-12-01
    price $209,900
37. 2022-11-22
    price $214,900

ⓘ 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: $2,672 · $223/mo
• Projected year-2 tax: $2,672 · $223/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,771
• − Mortgage interest: −$12,323
• − Property taxes: −$2,672
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$6,400
• Taxable loss: −$4,208
• Est. tax savings @ 24.0%: +$1,010
• After-tax cash flow: $592/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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Calera

• Score: 59/100
• State rank: #325
• US rank: #19917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calera, AL
• County: Shelby County · 188,970 people
• City population: 19,304
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 19,304
• Household income: $84,554
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 388.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 9% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Arabic 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.58%
• Current HPI: 220.2843
• Rent YoY: ▲ 3.67%
• Metro: Birmingham-Hoover, 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

+2.4% since first listed

22 events — show timeline

• 2026-05-19 Price Changed $220,000 Greater Alabama MLS
• 2026-04-07 Price Changed $229,000 Greater Alabama MLS
• 2026-03-23 Price Changed $235,000 Greater Alabama MLS
• 2026-03-09 Listed $239,000 Greater Alabama MLS
• 2025-07-17 Price Changed $246,000 Greater Alabama MLS
• 2025-07-12 Price Changed $247,000 Greater Alabama MLS
• 2025-07-10 Price Changed $248,000 Greater Alabama MLS
• 2025-05-19 Price Changed $249,900 Greater Alabama MLS
• 2025-05-17 Price Changed $254,000 Greater Alabama MLS
• 2025-05-12 Price Changed $255,000 Greater Alabama MLS
• 2025-05-07 Price Changed $258,000 Greater Alabama MLS
• 2025-04-18 Price Changed $259,000 Greater Alabama MLS
• 2025-04-05 Price Changed $265,000 Greater Alabama MLS
• 2024-03-25 Sold (Public Records) $244,500 Public Records
• 2024-03-22 Sold (MLS) $244,500 Greater Alabama MLS
• 2024-02-20 Contingent — Greater Alabama MLS
• 2024-02-09 Listed $239,900 Greater Alabama MLS
• 2023-08-23 Price Changed $249,900 Greater Alabama MLS
• 2023-07-19 Price Changed $259,900 Greater Alabama MLS
• 2023-02-17 Sold (Public Records) $158,600 Public Records
• 2022-12-01 Price Changed $209,900 Greater Alabama MLS
• 2022-11-22 Price Changed $214,900 Greater Alabama MLS

Property tax history

+11.2%/yr

Latest (2025): $2,672 · -3.0% YoY. Source: county tax records.