415 2nd Ave SE · Hamilton, AL 35570

$280,000

None bd · None ba · 1,624 sqft · MultiFamily public records · 104 Days on market

Built 1980 0.80 ac lot

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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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This fully renovated 4-plex is an investor’s goldmine. Here’s what makes this property special: All 4 units are rented out. Each units features 2-bedroom, 1-bath with open floor plans. Complete renovations: new HVAC, electrical, plumbing, flooring, updated kitchens, bathrooms, and 4-year-old shingle roof. Each unit comes fully equipped: washer, dryer, stove, refrigerator. This is turnkey income production at its finest with maximum cash flow potential. All units are currently rented with a total monthly income of $3,100.

Key facts

• 0.8 acre lot
• 4 parking spots
• Listed 104 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $280k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive. Per door: $126/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $255k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 2.9% in Hamilton — 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 63/100 on livability (#190 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D, amenities F, commute F.
• Marion County (rural): math 20% / reading 48% proficiency, ranked #56 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 active listings in the ZIP; 1 units permitted in Marion 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 $8k of value loss. Plan a longer hold.
• Marion County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $280k implies a 273% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $254,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $136,933
• List price: $280,000
• Delta: 104.48%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-13,193
• Equity at exit: $41,749

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $30,076
• Equity at exit: $24,209

Cash invested: $78,400 (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 35570

• Home prices YoY: -7.8%
• Active inventory: 93
• Price-to-rent: 30.2×

Monthly cashflow live

• Estimated rent: $3,088 medium
• Mortgage (P&I): −$1,468
• Tax est. 1.5%: −$350 /mo · $4,200/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$648
• Net cashflow: $505

Break-even live

Break-even rent $2,449

Max offer price $280,000

Occupancy floor 79%

Sensitivity live

Price	-10% $698	-5% $601	+0% $505	+5% $408	+10% $311
Rent	-10% $261	-5% $383	+0% $505	+5% $626	+10% $748
Rate	-1.0pp $646	-0.5pp $576	base $505	+0.5pp $432	+1.0pp $358

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,088
Total (4 units)			$3,088

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $280,000 Active 104 DOM
2. 2026-06-19
   days on market $280,000 Active 102 DOM
3. 2026-06-18
   days on market $280,000 Active 101 DOM
4. 2026-06-17
   days on market $280,000 Active 100 DOM
5. 2026-06-16
   days on market $280,000 Active 99 DOM
6. 2026-06-15
   days on market $280,000 Active 98 DOM
7. 2026-06-14
   days on market $280,000 Active 96 DOM
8. 2026-06-12
   days on market $280,000 Active 95 DOM
9. 2026-06-09
   days on market $280,000 Active 92 DOM
10. 2026-06-08
    days on market $280,000 Active 91 DOM
11. 2026-06-07
    days on market $280,000 Active 90 DOM
12. 2026-06-04
    days on market $280,000 Active 86 DOM
13. 2026-06-02
    days on market $280,000 Active 85 DOM
14. 2026-06-01
    days on market $280,000 Active 84 DOM
15. 2026-05-31
    days on market $280,000 Active 83 DOM
16. 2026-05-31
    days on market $280,000 Active 82 DOM
17. 2026-04-27
    price $280,000 541-char remark

    Show marketing remark (541 chars)

    This fully renovated 4-plex is an investor’s goldmine. Here’s what makes this property special: All 4 units are rented out. Each units features 2-bedroom, 1-bath with open floor plans. Complete renovations: new HVAC, electrical, plumbing, flooring, updated kitchens, bathrooms, and 4-year-old shingle roof. Each unit comes fully equipped: washer, dryer, stove, refrigerator. This is turnkey income production at its finest with maximum cash flow potential. All units are currently rented with a total monthly income of $3,100.

18. 2026-03-26
    price $290,000 541-char remark

    Show marketing remark (541 chars)

    This fully renovated 4-plex is an investor’s goldmine. Here’s what makes this property special: All 4 units are rented out. Each units features 2-bedroom, 1-bath with open floor plans. Complete renovations: new HVAC, electrical, plumbing, flooring, updated kitchens, bathrooms, and 4-year-old shingle roof. Each unit comes fully equipped: washer, dryer, stove, refrigerator. This is turnkey income production at its finest with maximum cash flow potential. All units are currently rented with a total monthly income of $3,100.

19. 2026-03-09
    listed $300,000 Active 541-char remark

    Show marketing remark (541 chars)

    This fully renovated 4-plex is an investor’s goldmine. Here’s what makes this property special: All 4 units are rented out. Each units features 2-bedroom, 1-bath with open floor plans. Complete renovations: new HVAC, electrical, plumbing, flooring, updated kitchens, bathrooms, and 4-year-old shingle roof. Each unit comes fully equipped: washer, dryer, stove, refrigerator. This is turnkey income production at its finest with maximum cash flow potential. All units are currently rented with a total monthly income of $3,100.

20. 2022-06-23
    soldstatus $75,000 217-char remark

    Show marketing remark (217 chars)

    INVESTMENT OPPORTUNITY. This property is 1 of 37 properties that can be purchased individually or as a package. It is sold "AS IS WHERE AS". All information and property facts to be verified by Purchaser.

21. 2022-06-23
    soldstatus $75,000

    Show marketing remark (217 chars)

    INVESTMENT OPPORTUNITY. This property is 1 of 37 properties that can be purchased individually or as a package. It is sold "AS IS WHERE AS". All information and property facts to be verified by Purchaser.

22. 2022-04-02
    listed $75,000 217-char remark

    Show marketing remark (217 chars)

    INVESTMENT OPPORTUNITY. This property is 1 of 37 properties that can be purchased individually or as a package. It is sold "AS IS WHERE AS". All information and property facts to be verified by Purchaser.

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,056
• − Mortgage interest: −$15,684
• − Property taxes: −$4,200
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,964
• − Management: −$2,964
• − Depreciation: −$8,145
• Taxable income: $1,697
• Est. tax owed @ 24.0%: −$407
• After-tax cash flow: $5,647/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: Marion County
• NCES district ID: 0102310
• Math proficiency: 20% ▼ -29.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $32,048
• Composite: 27.69/100
• National rank: #6911
• State rank: #56 of 129 in AL

Livability — Hamilton

• Score: 63/100
• State rank: #190
• US rank: #15568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamilton, AL
• City population: 10,621
• Population (ZIP): 10,621

Population outlook (Marion County) Hauer SSP2

• Today (2025): 28,759 people
• By 2030: 27,834 · -3.2%
• By 2040: 25,974 · -9.7%
• By 2050: 24,129 · -16.1%
• By 2075: 20,179 · -29.8%
• By 2100: 16,341 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Black 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Marion

• 2024 margin: Solid R (+81.7) · D 8.8% · R 90.5%
• 2008→2024 swing: -25.6pp toward R · 2008: -56.1pp · 2024: -81.7pp
• All cycles: 2024: R+81.7 2020: R+77.8 2016: R+76.2 2012: R+61.5 2008: R+56.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -13.98%
• Current HPI: 166.1943
• 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

+273.3% since first listed

6 events — show timeline

• 2026-04-27 Price Changed $280,000 VMLS
• 2026-03-26 Price Changed $290,000 VMLS
• 2026-03-09 Listed $300,000 VMLS
• 2022-06-23 Sold (Public Records) $75,000 Public Records
• 2022-06-23 Sold (MLS) $75,000 VMLS
• 2022-04-02 Listed $75,000 VMLS

Property tax history

+3.2%/yr

Latest (2025): $477 · +4.7% YoY. Source: county tax records.