26927 Spyglass Dr · Orange Beach, AL 36561

$349,900

3 bd · 2.5 ba · 1,516 sqft · Other public records · 27 Days on market

Built 2018

---

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 +20.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completed Construction ~ Exterior Unit Spyglass is our new luxury townhome community with so much to offer- including a community pool! These beautiful townhomes feature hardwood flooring in the main living areas, tile flooring in bathrooms, wood stairs, decorative metal stair trim, tile shower in master bath, granite countertops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. This home is built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance, and comes with a 1-year builder's warranty and a 10-year structural warranty. Townhome Unit is complete. Call for a showing today! Don't miss out on this amazing location and price point! * Interior pictures are of similar townhome unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

Key facts

• Plantation shutters
• Corner unit
• Neighborhood pool

Tags

• CORNER UNIT
• PLANTATION SHUTTERS
• NEIGHBORHOOD POOL
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $350k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/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 $323k (7.6% below list).
• Recommended offer: $323k (7.6% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 0.2% in Orange Beach — 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 75/100 on livability (#17 in AL, #3,891 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Market conditions: 89 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 39% of the median local income ($98k/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 $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $219k; list at $350k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $323,454 (7.6% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 7.96%
• Cash-on-cash: 5.94%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-25,958
• Equity at exit: $52,171

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $16,521
• Equity at exit: $30,253

Cash invested: $97,972 (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 36561

• Active inventory: 89
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,235 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$89 /mo · $1,072/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $485

Break-even live

Break-even rent $2,620

Max offer price $349,900

Occupancy floor 80%

Sensitivity live

Price	-10% $683	-5% $584	+0% $485	+5% $386	+10% $287
Rent	-10% $230	-5% $357	+0% $485	+5% $613	+10% $741
Rate	-1.0pp $661	-0.5pp $574	base $485	+0.5pp $395	+1.0pp $302

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4532 Walker Key Blvd Unit F-1 Orange Beach, AL	3.0	2.0	1258	$3,250	$2.58	44d	1	0.32mi
27481 Canal Rd Orange Beach, AL	3.0	3.0	1741	$3,450	$1.98	44d	1	0.56mi
4216 Antigua Ct Orange Beach, AL	4.0	3.5	1718	$3,200	$1.86	44d	1	0.72mi
25624 W Perdido Ave Orange Beach, AL	2.0	2.0	1170	$1,580	$1.35	14d	3	1.29mi
4681 Casablanca Dr Orange Beach, AL	3.0	3.0	2011	$3,250	$1.62	44d	1	1.43mi

Listing history 21 events

1. 2026-06-21
   days on market $349,900 Active 27 DOM
2. 2026-06-19
   days on market $349,900 Active 25 DOM
3. 2026-06-18
   days on market $349,900 Active 24 DOM
4. 2026-06-17
   days on market $349,900 Active 23 DOM
5. 2026-06-16
   days on market $349,900 Active 22 DOM
6. 2026-06-15
   days on market $349,900 Active 21 DOM
7. 2026-06-14
   days on market $349,900 Active 19 DOM
8. 2026-06-13
   days on market $349,900 Active 18 DOM
9. 2026-06-10
   days on market $349,900 Active 16 DOM
10. 2026-06-09
    days on market $349,900 Active 15 DOM
11. 2026-06-08
    days on market $349,900 Active 14 DOM
12. 2026-06-07
    days on market $349,900 Active 13 DOM
13. 2026-06-03
    days on market $349,900 Active 9 DOM
14. 2026-06-02
    days on market $349,900 Active 8 DOM
15. 2026-06-01
    days on market $349,900 Active 7 DOM
16. 2026-05-31
    days on market $349,900 Active 6 DOM
17. 2026-05-30
    days on market $349,900 Active 5 DOM
18. 2026-05-25
    listed $349,900 Active
19. 2020-06-17
    soldstatus $219,000
20. 2019-05-29
    soldstatus $209,900 1023-char remark

    Show marketing remark (1023 chars)

    Completed Construction ~ Exterior Unit Spyglass is our new luxury townhome community with so much to offer- including a community pool! These beautiful townhomes feature hardwood flooring in the main living areas, tile flooring in bathrooms, wood stairs, decorative metal stair trim, tile shower in master bath, granite countertops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. This home is built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance, and comes with a 1-year builder's warranty and a 10-year structural warranty. Townhome Unit is complete. Call for a showing today! Don't miss out on this amazing location and price point! * Interior pictures are of similar townhome unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

21. 2019-04-17
    listed $209,900 1023-char remark

    Show marketing remark (1023 chars)

    Completed Construction ~ Exterior Unit Spyglass is our new luxury townhome community with so much to offer- including a community pool! These beautiful townhomes feature hardwood flooring in the main living areas, tile flooring in bathrooms, wood stairs, decorative metal stair trim, tile shower in master bath, granite countertops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. This home is built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance, and comes with a 1-year builder's warranty and a 10-year structural warranty. Townhome Unit is complete. Call for a showing today! Don't miss out on this amazing location and price point! * Interior pictures are of similar townhome unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

ⓘ 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: $1,072 · $89/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$363/yr (+$30/mo · 33.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $38,814
• − Mortgage interest: −$19,600
• − Property taxes: −$1,072
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − Depreciation: −$10,179
• Taxable income: $4
• Est. tax owed @ 24.0%: −$1
• After-tax cash flow: $5,822/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)

No district data.

Livability — Orange Beach

• Score: 75/100
• State rank: #17
• US rank: #3891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange Beach, AL
• County: Baldwin County · 181,514 people
• City population: 9,528
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 9,528
• Household income: $98,295
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 179.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Black 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 4% Slovak 4% Russian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.50%
• Current HPI: 270.8382
• Rent YoY: —
• Metro: Daphne-Fairhope-Foley, 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

+66.7% since first listed

4 events — show timeline

• 2026-05-25 Listed $349,900 FSBO.com
• 2020-06-17 Sold (Public Records) $219,000 Public Records
• 2019-05-29 Sold (MLS) $209,900 BCAR
• 2019-04-17 Listed $209,900 BCAR

Property tax history

+19.0%/yr

Latest (2025): $1,072 · +8.9% YoY. Source: county tax records.