5510 Highway 29 Hwy · Banks, AL 36005

$164,900

4 bd · 2.5 ba · 2,174 sqft · SingleFamily public records · 6 Days on market

Built 1900 1.60 ac lot ↓ 25% since listing

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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).

• Cash flow +11.6/30.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• DSCR +3.4/10.0
• Livability +2.7/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Come see this BEAUTY loaded with SOUTHERN CHARM! This 4 bedroom, 2.5 bath home sitting on two beautiful acres features a beautiful yard with an in-ground pool and detached storage building. It also features a large kitchen/dining/den combo room with a separate great room. Home has three fireplaces and beautiful hardwood floors. If you are looking for that perfect country estate at an AFFORDABLE price LOOK NO FURTHER!

Key facts

• Hardwood flooring
• In-ground pool
• Covered patio

Tags

• NEW ROOF
• IN-GROUND POOL
• DETACHED STORAGE BUILDING
• COVERED PATIO
• HARDWOOD FLOORING
• MULTIPLE LIVING AREAS

Property features AI

Exterior

• Parking: Attached carport (1 car)
• Utilities: Public water; Septic tank sewer; Electricity available; Propane available
• Home design: Single-story home
• Construction: Wood siding construction; Year built (per public records)
• Exterior features: Deck; In-ground pool with pool equipment; Property located outside city limits

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Two first-floor bedrooms
• Flooring: Vinyl flooring; Wood flooring
• Bathrooms: Two full bathrooms on the first floor; One half bathroom on the first floor
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Gas log fireplaces (multiple); Kitchen open to family room (kitchen/family room combo)
• Laundry & utility: First-floor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-52 ($-625/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (5.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (24.2% below list).
• Recommended offer: $125k (24.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 54/100 on livability (#460 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: crime C-, amenities F, commute F.
• Bullock County (town): math 18% / reading 17% proficiency, ranked #130 of 133 in AL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Union Springs Elementary School (math 0% / reading 19%, grade F, #568 of 627 statewide, top 94%, 527 students, 67% FRL); South Highlands Middle School (math 0% / reading 13%, grade F, #249 of 257 statewide, top 98%, 424 students, 81% FRL); Bullock County High School (math 5% / reading 15%, grade F, #248 of 305 statewide, top 82%, 446 students, 82% FRL).
• Market conditions: 6 active listings in the ZIP.

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.5% local appreciation)).
• Bullock County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 2y 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,061 (24.2% 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. Built in 1900 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.35%
• DSCR: 0.94
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.45×
• Total profit: $20,868
• Equity at exit: $78,790

10-year hold

• IRR: 10.1%
• Equity multiple: 2.59×
• Total profit: $73,613
• Equity at exit: $125,165

Cash invested: $46,172 (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 36005

• Home prices YoY: 3.0%
• Active inventory: 6
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$107 /mo · $1,280/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-52

Break-even live

Break-even rent $1,317

Max offer price $155,694

Occupancy floor 99%

Sensitivity live

Price	-10% $41	-5% $-5	+0% $-52	+5% $-99	+10% $-145
Rent	-10% $-151	-5% $-102	+0% $-52	+5% $-3	+10% $47
Rate	-1.0pp $31	-0.5pp $-10	base $-52	+0.5pp $-95	+1.0pp $-138

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-09
   days on market $164,900 Active 6 DOM
2. 2026-06-08
   days on market $164,900 Active 5 DOM
3. 2026-06-07
   days on market $164,900 Active 4 DOM
4. 2026-06-05
   days on market $164,900 Active 2 DOM
5. 2026-06-04
   remarks 699-char remark
6. 2026-06-04
   listed $164,900 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: $1,280 · $107/mo
• Projected year-2 tax: $1,280 · $107/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $15,007
• − Mortgage interest: −$9,237
• − Property taxes: −$1,280
• − Insurance: −$824
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$4,797
• Taxable loss: −$3,532
• Est. tax savings @ 24.0%: +$848
• After-tax cash flow: $222/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: Bullock County
• NCES district ID: 0100480
• Math proficiency: 18% ▲ 4.00%
• Reading proficiency: 17% ▼ -1.00%
• Median HH income: $33,373
• Composite: 17.6/100
• National rank: #14126
• State rank: #130 of 133 in AL

Livability — Banks

• Score: 54/100
• State rank: #460
• US rank: #23961

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,486

Population outlook (Bullock County) Hauer SSP2

• Today (2025): 9,799 people
• By 2030: 9,384 · -4.2%
• By 2040: 8,575 · -12.5%
• By 2050: 7,814 · -20.3%
• By 2075: 5,722 · -41.6%
• By 2100: 3,852 · -60.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Black 27% Two or more races 6% Asian 3%
• Common ancestry: Slovak 3% Portuguese 1% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Indo-European 3% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Bullock

• 2024 margin: Solid D (+45.8) · D 72.7% · R 26.8%
• 2008→2024 swing: -2.5pp toward R · 2008: 48.4pp · 2024: 45.8pp
• All cycles: 2024: D+45.8 2020: D+49.9 2016: D+50.9 2012: D+52.8 2008: D+48.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 118.4684
• 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

-24.9% since first listed

6 events — show timeline

• 2026-06-03 Listed $164,900 MAAR
• 2025-02-17 Listed $220,000 WBR
• 2024-05-28 Sold (MLS) $193,000 MAAR
• 2024-05-17 Pending — MAAR
• 2024-04-30 Contingent — MAAR
• 2024-04-23 Listed $219,500 MAAR

Property tax history

+10.4%/yr

Latest (2025): $1,280 · +216.0% YoY. Source: county tax records.