400 Morningview Dr · Gadsden, AL 35901

$55,000

3 bd · 1.0 ba · 884 sqft · SingleFamily public records · 5 Days on market

Built 1958 7,840 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for a first time home buyer or an investor. This 3 bedroom 1 bath home features a screened in back porch along with a separate laundry room. Metal roof and single level living space. Located in North Gadsden just minutes aways from shopping, golf, and downtown.

Key facts

• 7,840 sq ft lot
• Built 1958
• Listed 5 days

Property features AI

Finance

• HOA & community: No homeowners association; Located in the Oakleigh Estates subdivision

Exterior

• Parking: Paved asphalt driveway
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence built in 1958; One story
• Construction: Slab foundation
• Exterior features: Public water; Public sewer; Lot of approximately 0.18 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Window cooling unit
• Interior features: One level living; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $509 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 17.4% vs local median 5.1% in Gadsden — 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 (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thompson Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 217 students, 90% FRL); Gadsden Middle School (math 15% / reading 51%, grade F, #101 of 257 statewide, top 40%, 464 students, 75% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL).
• Market conditions: 154 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.94% ✓
• Cap rate: 17.39%
• Cash-on-cash: 39.65%
• DSCR: 2.76
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $24,752
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
400 Morningview Dr	0.00mi	3/1.0	843 (-5%)	4mo	$50,000	$59	89
208 Springdale Rd	0.32mi	2/1.0 (-1)	860 (-3%)	1mo	$17,000	$20	75
2508 Dublin St	0.43mi	3/1.0	868 (-2%)	14mo	$100,000	$115	65
110 Oakleigh Dr	0.40mi	3/1.0	898 (+2%)	22mo	$25,000	$28	61
2515 Ewing Ave	0.46mi	2/2.0 (-1)	816 (-8%)	21mo	$6,000	$7	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.9%
• Equity multiple: 2.52×
• Total profit: $23,482
• Equity at exit: $8,201

10-year hold

• IRR: 42.6%
• Equity multiple: 5.03×
• Total profit: $62,124
• Equity at exit: $4,755

Cash invested: $15,400 (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 35901

• Home prices YoY: -9.9%
• Active inventory: 154
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$21 /mo · $248/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $509

Break-even live

Break-even rent $420

Max offer price $55,000

Occupancy floor 47%

Sensitivity live

Price	-10% $540	-5% $524	+0% $509	+5% $493	+10% $478
Rent	-10% $425	-5% $467	+0% $509	+5% $551	+10% $593
Rate	-1.0pp $537	-0.5pp $523	base $509	+0.5pp $495	+1.0pp $480

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-21
   days on market $55,000 Active 5 DOM
2. 2026-06-19
   days on market $55,000 Active 3 DOM
3. 2026-06-18
   days on market $55,000 Active 2 DOM
4. 2026-06-17
   remarks 220-char remark
5. 2026-06-17
   listed $55,000 Active 1 DOM

ⓘ 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: $248 · $21/mo
• Projected year-2 tax: $248 · $21/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 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,772
• − Mortgage interest: −$3,081
• − Property taxes: −$248
• − Insurance: −$275
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$1,600
• Taxable income: $5,525
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $4,780/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 19,186

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 55% Black 32% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.83%
• Current HPI: 243.6795
• 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

+29.4% since first listed

8 events — show timeline

• 2026-06-16 Listed $55,000 VMLS
• 2026-02-26 Sold (MLS) $50,000 VMLS
• 2026-02-14 Contingent — VMLS
• 2026-01-28 Price Changed $49,900 VMLS
• 2025-11-26 Listed $53,900 VMLS
• 2023-06-26 Sold (MLS) $42,500 VMLS
• 2023-06-06 Contingent — VMLS
• 2023-06-01 Listed $42,500 VMLS

Property tax history

+0.8%/yr

Latest (2025): $248 · +0.0% YoY. Source: county tax records.