2703 Colonial Dr NE · Tuscaloosa, AL 35404

$199,900

3 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 13 Days on market

Built 1981 0.35 ac lot Est $198k · at est.

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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 +21.7/30.0
• ARV discount +7.0/15.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Recently updated with new paint, carpet, and stainless-steel appliances. Kitchen and bathroom have also been updated. Conveniently located to schools and Tuscaloosa's amenities, this 3-bedroom home has a fenced back yard and large carport with extra storage. Inside, the rooms are ample-sized including an eat-in kitchen with lots of cabinets and counter space. Right of redemption may apply. Right of redemption may apply. Contact your agent today to schedule a showing.

Key facts

• Open concept
• Covered carport
• Fenced in yard

Tags

• FENCED IN YARD
• COVERED CARPORT
• STAINLESS STEEL APPLIANCES
• WATER FILTRATION SYSTEM
• OPEN CONCEPT

Property features AI

Exterior

• Parking: Attached carport; Has carport; Driveway; Concrete surfaces
• Utilities: Sewer connected
• Home design: Single family residence; One level; Residential property
• Construction: Aluminum siding; Block construction; Composition/shingle roof; Crawl space with walk-out access (basement)
• Exterior features: Rain gutters; Deck; Chain link fence; Workshop (outbuilding)

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator; Water heater
• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating; Ceiling fan cooling
• Interior features: Ceiling fans; Blinds
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/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 $189k (5.5% below list).
• Recommended offer: $189k (5.5% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 3.4% in Tuscaloosa — 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 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa City (urban): math 19% / reading 40% proficiency, ranked #74 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: The Alberta School of Performing Arts (math 10% / reading 37%, grade F, #429 of 627 statewide, top 69%, 671 students, 82% FRL); Northridge Middle School (math 29% / reading 57%, grade D-, #48 of 257 statewide, top 19%, 740 students, 39% FRL); Northridge High School (math 40% / reading 42%, grade F, #31 of 305 statewide, top 10%, 1,145 students, 35% FRL).
• Market conditions: Rents rising fast (+6.8%/yr); 167 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• At $1,888/mo this rent would consume 46% of the median local household income ($49k/yr) (locally 1531% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $56k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,814 (5.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.94% ✗
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $197,625
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2803 Sunset Dr NE	0.07mi	3/2.0	1,237 (-3%)	7mo	$199,900	$162	82
2806 Sunset Dr NE	0.09mi	3/1.0	1,212 (-5%)	8mo	$188,000	$155	81
2902 1st St E	0.19mi	3/2.0	1,318 (+3%)	6mo	$168,000	$127	77
3123 4th St E	0.55mi	3/1.0	1,198 (-6%)	2mo	$75,000	$63	63
307 Short 24th Ave E	0.39mi	3/2.0	1,145 (-10%)	5mo	$185,000	$162	57
63 Juanita Dr	0.60mi	3/2.0	1,196 (-6%)	2mo	$116,500	$97	56
108 22nd Ave NE	0.46mi	3/2.0	1,150 (-10%)	3mo	$209,900	$183	56
2624 3rd St E	0.29mi	3/2.0	1,092 (-14%)	8mo	$165,000	$151	52
2404 5th St E	0.49mi	3/2.0	1,188 (-7%)	12mo	$163,000	$137	52
2131 5th St E	0.60mi	3/2.0	1,150 (-10%)	1mo	$219,900	$191	51
413 26th Ave E	0.50mi	3/2.0	1,120 (-12%)	6mo	$110,000	$98	47
513 31st Ave E	0.58mi	3/1.0	1,100 (-14%)	12mo	$199,000	$181	40

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 · 6.81% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-9,557
• Equity at exit: $29,806

10-year hold

• IRR: 9.0%
• Equity multiple: 1.80×
• Total profit: $44,619
• Equity at exit: $17,284

Cash invested: $55,972 (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 35404

• Rents YoY: 6.8%
• Active inventory: 167
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,888 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$52 /mo · $627/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $241

Break-even live

Break-even rent $1,583

Max offer price $199,900

Occupancy floor 82%

Sensitivity live

Price	-10% $355	-5% $298	+0% $241	+5% $185	+10% $128
Rent	-10% $92	-5% $167	+0% $241	+5% $316	+10% $391
Rate	-1.0pp $342	-0.5pp $292	base $241	+0.5pp $190	+1.0pp $137

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,400	$2.82	45d	5	0.54mi
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,200	$2.58	14d	7	0.54mi
829 21st Ave E Tuscaloosa, AL	3.0	3.5	1792	$2,569	$1.43	45d	1	0.89mi
3550 Crescent Gardens Dr Tuscaloosa, AL	3.0	2.0	1116	$1,575	$1.41	45d	1	0.91mi
922 23rd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	1092	$2,300	$2.11	14d	4	0.96mi
936 22nd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,000	$2.21	14d	4	1.02mi
933 21st Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,150	$2.37	45d	2	1.03mi
927 Kicker Rd Tuscaloosa, AL	3.0	3.0	1412	$3,075	$2.18	22d	2	1.05mi
1010 23rd Ave E Tuscaloosa, AL	3.0	2.0	1251	$1,500	$1.20	45d	1	1.06mi
1726 10th St E Tuscaloosa, AL	3.0	3.0	1760	$2,250	$1.28	14d	2	1.22mi
4220 Keene Dr Tuscaloosa, AL	2.0–3.0	2.0	1119	$850	$0.76	22d	1	1.23mi
1722 13th St E Tuscaloosa, AL	3.0	1.0	1200	$1,100	$0.92	45d	1	1.35mi
30 Beverly Hts Tuscaloosa, AL	3.0	2.0	1100	$2,100	$1.91	14d	1	1.35mi
1308 Crescent Ridge Rd NE Tuscaloosa, AL	3.0	2.0	1052	$1,250	$1.19	45d	1	1.36mi
3218 Veterans Memorial Pkwy Tuscaloosa, AL	3.0	3.0–3.5	1484	$1,950	$1.31	22d	1	1.44mi
2501 Veterans Memorial Pkwy Tuscaloosa, AL	2.0	2.0	1018	$875	$0.86	45d	1	1.45mi
2501 Veterans Memorial Pkwy Tuscaloosa, AL	2.0	2.0	1078	$975	$0.90	14d	1	1.45mi
1305 12th St E Tuscaloosa, AL	4.0	2.0	1377	$1,615	$1.17	22d	1	1.49mi

Listing history 10 events

1. 2026-06-21
   days on market $199,900 Active 13 DOM
2. 2026-06-18
   days on market $199,900 Active 10 DOM
3. 2026-06-17
   days on market $199,900 Active 9 DOM
4. 2026-06-16
   days on market $199,900 Active 8 DOM
5. 2026-06-15
   days on market $199,900 Active 7 DOM
6. 2026-06-14
   days on market $199,900 Active 5 DOM
7. 2026-06-13
   days on market $199,900 Active 4 DOM
8. 2026-06-10
   days on market $199,900 Active 2 DOM
9. 2026-06-09
   remarks 497-char remark
10. 2026-06-09
    listed $199,900 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: $627 · $52/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$193/yr (+$16/mo · 30.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,658
• − Mortgage interest: −$11,198
• − Property taxes: −$627
• − Insurance: −$1,797
• − Repairs & maintenance: −$1,813
• − Management: −$1,813
• − Depreciation: −$5,815
• Taxable loss: −$404
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $2,993/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: Tuscaloosa City
• NCES district ID: 0103360
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $37,474
• Composite: 24.51/100
• National rank: #7647
• State rank: #74 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscaloosa, AL
• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 22,445
• Household income: $48,932
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1531.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 46% White 44% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.00%
• Current HPI: 170.026
• Rent YoY: ▲ 6.81%
• Metro: Tuscaloosa, 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

+128.5% since first listed

6 events — show timeline

• 2026-06-08 Listed $199,900 WAMLS
• 2024-04-17 Sold (Public Records) $177,000 Public Records
• 2020-04-17 Sold (MLS) $87,500 Greater Alabama MLS
• 2020-04-09 Sold (MLS) $87,500 WAMLS
• 2019-11-20 Listed $87,500 WAMLS
• 2019-11-20 Listed $87,500 Greater Alabama MLS

Property tax history

+4.4%/yr

Latest (2025): $627 · +40.1% YoY. Source: county tax records.