500 Grant Street St Unit B206 · Daphne, AL 36526

$149,000

2 bd · 1.5 ba · 873 sqft · SingleFamily · 153 Days on market

Built 1983 Fair condition 1.42 ac lot $171/sqft · 28% below area Est $208k · 28% under $250/mo HOA · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• 1% rule +4.4/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• Condition / age +2.2/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Condo In An Amazing Location! Just Minutes From I10 For Easy Commute To Mobile Or Pensacola, Convenient To All Local Malls, Restaurants, Shopping, Entertainment And So Much More. New Roof And HVAC In 2020, New Water Heater in 2023. Wood Floors and Crown Molding Throughout. Painted Cabinets In The Kitchen. Wonderful Covered Deck Right Off The Living And Dining Area With Western View Its Great For Watching Sunsets. Main Bedroom Has Large Walk-In Closet And Vanity Area Separate From Shower And Toilet Room. Another Half Bath Is Located Directly Across From The Second Bedroom And Attaches To The Shower And Toilet Room. Living And Dining Area Is Large And Open, Great For Entertaining And Everyday Living. BayForest Has A Community Pool. Property is currently leased with 10 months remaining in the lease. This lease must be honored.

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 fair.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (5.5% below list).
• Recommended offer: $125k (16.3% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 4.0% in Daphne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 879 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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 153 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,714 (16.3% 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 153 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.83%
• DSCR: 0.79
• GRM: 8.8

CMA / ARV

• ARV (median comp): $207,743
• List price: $149,000
• Delta: -28.28%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Lake Forest Boulevard Blvd Unit 123F	0.09mi	2/1.5	873 (0%)	1mo	$136,500	$156	95
104 Golf Ter Unit 1B104	1.02mi	2/2.0	900 (+3%)	4mo	$142,000	$158	55
1000 D'olive Springs Dr Unit E-1	0.22mi	2/2.0	1,041 (+19%)	10mo	$225,000	$216	55
209 Golf Ter #209	1.02mi	2/2.0	900 (+3%)	7mo	$150,000	$167	52
4 Yacht Club Dr #180	0.81mi	2/2.0	972 (+11%)	8mo	$165,000	$170	38
2101 Seacliff Dr #2101	0.73mi	1/1.0 (-1)	951 (+9%)	10mo	$185,248	$195	36
4 Yacht Club Dr #202	0.81mi	2/2.0	1,010 (+16%)	5mo	$205,000	$203	34
6 Yacht Club Dr #109	0.72mi	1/1.5 (-1)	1,000 (+14%)	4mo	$130,000	$130	34
35 Summer Oaks Dr #35	1.38mi	2/1.5	1,074 (+23%)	10mo	$152,500	$142	32
4 Yacht Club Dr #154	0.81mi	2/2.0	1,035 (+19%)	8mo	$142,500	$138	31
4 Yacht Club Dr #134	0.81mi	2/2.0	1,035 (+19%)	9mo	$164,900	$159	30
4 Yacht Club Dr #174	0.81mi	2/2.0	1,080 (+24%)	10mo	$165,000	$153	30

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: -26.2%
• Equity multiple: 0.13×
• Total profit: $-36,449
• Equity at exit: $22,216

10-year hold

• IRR: -28.8%
• Equity multiple: -0.25×
• Total profit: $-51,951
• 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: 12 active · 2 under contract
• Months of supply: 36.0 mo (3%/mo absorbed)
• Median asking: $149,000 ($171/sqft)
• Median days on market: 153 d
• This list price: 42% of active listings are priced below it
• ARV vs active asking: +39.4% 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: 879
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,407 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-168

Break-even live

Break-even rent $1,620

Max offer price $124,714

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-116	+0% $-168	+5% $-219	+10% $-271
Rent	-10% $-279	-5% $-223	+0% $-168	+5% $-112	+10% $-57
Rate	-1.0pp $-93	-0.5pp $-130	base $-168	+0.5pp $-206	+1.0pp $-246

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	139d	2	0.03mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	117d	1	0.07mi
29100 N Main St Daphne, AL	2.0	1.0–2.0	576	$1,300	$2.26	6d	1	0.13mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,463	$1.54	6d	6	0.66mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	117d	1	0.72mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,926	$1.90	6d	27	1.14mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	109d	24	1.14mi

Property features AI

Finance

• Other: Condominium ownership
• HOA & community: Annual association fee of $250Association fees include common area insurance, grounds maintenance, common area taxes, and poolTransfer fees applyCommunity features include an outdoor pool

Exterior

• Parking: Assigned parking
• Utilities: Total electric serviceDaphne UtilitiesRiviera Utilities
• Home design: Attached condominiumOne storyResale propertyNo one above (upper units not above this unit)
• Construction: Brick constructionSlab foundationComposition roofBuilding measured by agent
• Exterior features: Covered patio/porchStorageBalcony (approx. 8 x 10)Few trees on groundsCommunity/association pool (outdoor)

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: Primary bedroom with bath combo and walk-in closet (Main level)Second bedroom 11 x 9
• Flooring: Wood floors
• Bathrooms: One full bathroomOne half bathroomMaster bathroom with tub/shower combo
• Heating & cooling: Electric heatingCentral electric coolingCeiling fan(s)
• Interior features: No fireplaceUnfurnishedLiving and dining area combined with kitchen
• Laundry & utility: WasherDryerElectric water heater

HOA detail $250/mo · $3,000/yr

• Likely covers: waterpool

Listing history 50 events

1. 2026-09-24
   days on market $149,000 Active 153 DOM
2. 2026-09-24
   days on market $149,000 Active 152 DOM
3. 2026-09-22
   days on market $149,000 Active 151 DOM
4. 2026-09-21
   days on market $149,000 Active 150 DOM
5. 2026-09-20
   days on market $149,000 Active 149 DOM
6. 2026-09-19
   days on market $149,000 Active 148 DOM
7. 2026-09-18
   days on market $149,000 Active 147 DOM
8. 2026-09-17
   days on market $149,000 Active 146 DOM
9. 2026-09-16
   days on market $149,000 Active 145 DOM
10. 2026-09-15
    days on market $149,000 Active 144 DOM
11. 2026-09-14
    days on market $149,000 Active 143 DOM
12. 2026-09-13
    days on market $149,000 Active 142 DOM
13. 2026-09-12
    days on market $149,000 Active 141 DOM
14. 2026-09-11
    days on market $149,000 Active 140 DOM
15. 2026-09-05
    days on market $149,000 Active 134 DOM
16. 2026-09-04
    days on market $149,000 Active 133 DOM
17. 2026-09-03
    days on market $149,000 Active 132 DOM
18. 2026-08-31
    days on market $149,000 Active 129 DOM
19. 2026-08-30
    days on market $149,000 Active 128 DOM
20. 2026-08-29
    days on market $149,000 Active 127 DOM
21. 2026-08-28
    days on market $149,000 Active 126 DOM
22. 2026-08-27
    days on market $149,000 Active 125 DOM
23. 2026-08-25
    days on market $149,000 Active 123 DOM
24. 2026-08-24
    days on market $149,000 Active 122 DOM
25. 2026-08-23
    days on market $149,000 Active 121 DOM
26. 2026-08-22
    days on market $149,000 Active 120 DOM
27. 2026-08-21
    days on market $149,000 Active 119 DOM
28. 2026-08-20
    days on market $149,000 Active 118 DOM
29. 2026-08-19
    days on market $149,000 Active 117 DOM
30. 2026-08-18
    days on market $149,000 Active 116 DOM
31. 2026-08-17
    days on market $149,000 Active 115 DOM
32. 2026-08-16
    days on market $149,000 Active 114 DOM
33. 2026-08-15
    days on market $149,000 Active 113 DOM
34. 2026-08-14
    days on market $149,000 Active 112 DOM
35. 2026-08-13
    days on market $149,000 Active 111 DOM
36. 2026-08-12
    days on market $149,000 Active 110 DOM
37. 2026-08-11
    days on market $149,000 Active 109 DOM
38. 2026-08-10
    days on market $149,000 Active 108 DOM
39. 2026-08-09
    days on market $149,000 Active 107 DOM
40. 2026-08-08
    days on market $149,000 Active 106 DOM
41. 2026-08-07
    days on market $149,000 Active 105 DOM
42. 2026-08-06
    days on market $149,000 Active 104 DOM
43. 2026-08-05
    days on market $149,000 Active 103 DOM
44. 2026-08-04
    days on market $149,000 Active 102 DOM
45. 2026-08-03
    days on market $149,000 Active 101 DOM
46. 2026-07-31
    days on market $149,000 Active 98 DOM
47. 2026-07-30
    days on market $149,000 Active 97 DOM
48. 2026-07-29
    days on market $149,000 Active 96 DOM
49. 2026-07-27
    days on market $149,000 Active 94 DOM
50. 2026-07-25
    days on market $149,000 Active 92 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: $16,889
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − HOA: −$3,000
• − Depreciation: −$4,335
• Taxable loss: −$4,474
• Est. tax savings @ 24.0%: +$1,074
• After-tax cash flow: $-940/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 · 7 photos

Fair 45/100 Cosmetic rehab Est. rehab $4,365–$13,095 screening

This condo is in fair condition with some cosmetic repairs needed, such as painting the exterior trim and trimming the landscaping. It is located in a convenient location with a pool and easy access to local amenities.

Repairs flagged

• Minor Paint — The exterior trim appears to be in need of touch-up paint
• Minor Landscaping — The landscaping around the building appears overgrown

Value-add opportunities

• Resale Paint the exterior trim — Fresh paint can make the property look more appealing ↑
• Rental Trim the landscaping — Well-maintained landscaping can attract more tenants ↑

ⓘ 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

---

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

Property features AI

Finance

• Other: Condominium ownership
• HOA & community: Annual association fee of $250Association fees include common area insurance, grounds maintenance, common area taxes, and poolTransfer fees applyCommunity features include an outdoor pool

Exterior

• Parking: Assigned parking
• Utilities: Total electric serviceDaphne UtilitiesRiviera Utilities
• Home design: Attached condominiumOne storyResale propertyNo one above (upper units not above this unit)
• Construction: Brick constructionSlab foundationComposition roofBuilding measured by agent
• Exterior features: Covered patio/porchStorageBalcony (approx. 8 x 10)Few trees on groundsCommunity/association pool (outdoor)

Interior

• Kitchen: DishwasherElectric rangeRefrigerator
• Bedrooms: Primary bedroom with bath combo and walk-in closet (Main level)Second bedroom 11 x 9
• Flooring: Wood floors
• Bathrooms: One full bathroomOne half bathroomMaster bathroom with tub/shower combo
• Heating & cooling: Electric heatingCentral electric coolingCeiling fan(s)
• Interior features: No fireplaceUnfurnishedLiving and dining area combined with kitchen
• Laundry & utility: WasherDryerElectric water heater

Price history

-0.6% since first listed

9 events — show timeline

• 2026-04-24 Listed $149,000 BCAR
• 2023-05-22 Sold (MLS) $130,000 BCAR
• 2023-05-22 Sold (MLS) $130,000 GCMLS AL
• 2023-05-05 Pending — GCMLS AL
• 2023-05-05 Pending — BCAR
• 2023-04-28 Price Changed $145,900 GCMLS AL
• 2023-04-28 Price Changed $145,900 BCAR
• 2023-04-10 Listed $149,900 GCMLS AL
• 2023-04-10 Listed $149,900 BCAR