1004 8th Ave SW · Decatur, AL 35601

$154,900

3 bd · 2.0 ba · 1,593 sqft · SingleFamily public records · 56 Days on market

Built 1959 0.36 ac lot $97/sqft · 17% below area Est $188k · 17% under

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Property. 3 bedroom 2 bath , Large family room.

Key facts

• 0.36-acre lot
• Local schools
• Shopping

Tags

• 0.36-ACRE LOT
• SPACIOUS LEVEL BACKYARD
• LOCAL SCHOOLS
• SHOPPING
• DOWNTOWN DECATUR

Property features AI

Finance

• Other: Living area reported as 1,593 square feet
• HOA & community: No homeowners association; Subdivision: Western Gardens

Exterior

• Parking: Attached carport
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single-family home; One story; Built in 1959
• Construction: Slab foundation
• Exterior features: Public water; Public sewer; Lot approximately 0.36 acres (66 x 130)

Interior

• Bedrooms: 3 total rooms (bedroom count not explicitly provided)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central cooling
• Interior features: Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/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 $147k (5.1% below list).
• Recommended offer: $147k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: West Decatur Elementary School (math 8% / reading 17%, grade F, #536 of 627 statewide, top 88%, 346 students, 89% FRL); Austin Middle School (math 18% / reading 39%, grade F, #138 of 257 statewide, top 54%, 714 students, 77% FRL); Austin High School (math 20% / reading 24%, grade F, #142 of 305 statewide, top 51%, 1,025 students, 66% FRL) — zoned schools average 77% FRL vs 57% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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.
• Current owner paid $125k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1959 — 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 $147,061 (5.1% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.95% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.76%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

• ARV (median comp): $187,547
• List price: $154,900
• Delta: -17.41%
• 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
1226 Thomas Dr SW	0.45mi	3/2.0	1,599 (+0%)	1mo	$160,000	$100	78
401 Wildwood Cir SW	0.41mi	4/2.5 (+1)	1,620 (+2%)	2mo	$179,000	$110	70
614 Holland Ct	0.53mi	3/2.0	1,568 (-2%)	14mo	$257,000	$164	61
120 SW Cecil St	0.66mi	3/1.5	1,528 (-4%)	2mo	$185,000	$121	59
606 14th Ave	0.65mi	3/2.0	1,500 (-6%)	5mo	$50,000	$33	56
1303 SW 1st Ave	0.61mi	3/2.0	1,689 (+6%)	13mo	$164,000	$97	51
304 Albert St SW	0.69mi	4/3.0 (+1)	1,676 (+5%)	1mo	$183,000	$109	49
609 7th Ave SW	0.51mi	4/2.0 (+1)	1,380 (-13%)	1mo	$187,000	$136	48
414 5th Ave SW	0.66mi	4/1.0 (+1)	1,546 (-3%)	10mo	$65,000	$42	47
604 Memorial Dr SW	0.53mi	4/2.0 (+1)	1,830 (+15%)	1mo	$135,000	$74	44
1609 SW 8th St SW	0.70mi	3/2.0	1,800 (+13%)	8mo	$186,000	$103	39
1213 2nd St SW	0.66mi	3/2.0	1,825 (+15%)	12mo	$185,000	$101	35

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.78×
• Total profit: $-9,376
• Equity at exit: $23,096

10-year hold

• IRR: 5.6%
• Equity multiple: 1.45×
• Total profit: $19,376
• Equity at exit: $13,393

Cash invested: $43,372 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 223
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,471 high
• Mortgage (P&I): −$812
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $208

Break-even live

Break-even rent $1,207

Max offer price $154,900

Occupancy floor 81%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Hillside Rd SW Decatur, AL	3.0	1.5	1344	$1,400	$1.04	43d	1	0.31mi
609 7th Ave SW Decatur, AL	4.0	2.0	1380	$1,425	$1.03	43d	1	0.53mi
1504 Faye St SW Decatur, AL	3.0	2.0	1200	$1,450	$1.21	43d	1	0.56mi
1518 15th Ave SW Decatur, AL	3.0	2.0	1440	$1,600	$1.11	43d	1	0.88mi
1805 8th Ave SW Decatur, AL	3.0	2.0	1725	$1,750	$1.01	43d	1	1.00mi
225 5th Ave NW Decatur, AL	3.0	2.0	1496	$1,300	$0.87	43d	1	1.08mi
603 Prospect Dr SE Decatur, AL	3.0	1.0	1362	$1,795	$1.32	43d	1	1.11mi
2019 Morgan Ave SW Decatur, AL	4.0	2.0	1064	$1,650	$1.55	43d	1	1.40mi
1707 Buena Vista Cir SE Decatur, AL	3.0	2.0	1756	$1,350	$0.77	43d	1	1.45mi

Listing history 29 events

1. 2026-06-19
   days on market $154,900 Active 56 DOM
2. 2026-06-18
   days on market $154,900 Active 55 DOM
3. 2026-06-17
   days on market $154,900 Active 54 DOM
4. 2026-06-16
   days on market $154,900 Active 53 DOM
5. 2026-06-15
   days on market $154,900 Active 52 DOM
6. 2026-06-14
   days on market $154,900 Active 50 DOM
7. 2026-06-13
   pricedays on market $154,900 Active 49 DOM
8. 2026-06-10
   days on market $159,900 Active 47 DOM
9. 2026-06-09
   days on market $159,900 Active 46 DOM
10. 2026-06-08
    days on market $159,900 Active 45 DOM
11. 2026-06-07
    days on market $159,900 Active 44 DOM
12. 2026-06-05
    days on market $159,900 Active 41 DOM
13. 2026-06-03
    days on market $159,900 Active 40 DOM
14. 2026-06-02
    days on market $159,900 Active 39 DOM
15. 2026-06-01
    days on market $159,900 Active 38 DOM
16. 2026-05-31
    days on market $159,900 Active 37 DOM
17. 2026-05-30
    days on market $159,900 Active 36 DOM
18. 2026-04-24
    listed $159,900 Active 471-char remark
19. 2021-09-07
    soldstatus $125,000
20. 2021-08-31
    soldstatus $125,000 Sold 58-char remark

    Show marketing remark (58 chars)

    Investment Property. 3 bedroom 2 bath , Large family room.

21. 2021-08-25
    status Pending 58-char remark

    Show marketing remark (58 chars)

    Investment Property. 3 bedroom 2 bath , Large family room.

22. 2021-08-16
    listed $125,000 Active 58-char remark

    Show marketing remark (58 chars)

    Investment Property. 3 bedroom 2 bath , Large family room.

23. 2021-06-01
    soldstatus $80,000
24. 2020-07-06
    historical
25. 2020-03-16
    listed $100,000 Active
26. 2013-04-01
    soldstatus $62,500
27. 2013-02-20
    listed $64,900
28. 2003-10-26
    soldstatus $59,354
29. 2003-10-21
    soldstatus $43,000

ⓘ 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: $920 · $77/mo
• Projected year-2 tax: $920 · $77/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 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,647
• − Mortgage interest: −$8,677
• − Property taxes: −$920
• − Insurance: −$774
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − Depreciation: −$4,506
• Taxable loss: −$54
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $2,512/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

+260.2% since first listed

13 events — show timeline

• 2026-06-11 Price Changed $154,900 VMLS
• 2026-04-24 Listed $159,900 VMLS
• 2021-09-07 Sold (Public Records) $125,000 Public Records
• 2021-08-31 Sold (MLS) $125,000 VMLS
• 2021-08-25 Pending — VMLS
• 2021-08-16 Listed $125,000 VMLS
• 2021-06-01 Sold (Public Records) $80,000 Public Records
• 2020-07-06 Delisted — VMLS
• 2020-03-16 Listed $100,000 VMLS
• 2013-04-01 Sold (MLS) $62,500 VMLS
• 2013-02-20 Listed $64,900 VMLS
• 2003-10-26 Sold (Public Records) $59,354 Public Records
• 2003-10-21 Sold (Public Records) $43,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $920 · +0.0% YoY. Source: county tax records.