206 Piney Point Dr NW · Cullman, AL 35055

$159,900

3 bd · 1.0 ba · 1,582 sqft · SingleFamily public records · 65 Days on market

Built 1978 1.00 ac lot $101/sqft · 28% below area Est $221k · 28% 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A TWO BEDROOM, ONE BATH HOUSE WITH METAL ROOF. HAS A LARGE ROOM THAT COULD BE USED AS A THIRD BEDROOM OR DEN. WOULD BE A GREAT STARTER HOME OR A GREAT INVESTMENT/RENTAL PROPERTY. THIS HOUSE SITS ON A 1 ACRE LOT IN THE CITY OF CULLMAN.

Key facts

• 1 acre lot
• Built 1978
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $215 ($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 $152k (5.2% below list).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.8% in Cullman — 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 71/100 on livability (#36 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities C-, commute F, health & safety F.
• Cullman City (town): math 38% / reading 65% proficiency, ranked #13 of 129 in AL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 339 active listings in the ZIP; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($58k/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.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $160k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-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?
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: 0.95% ✗
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• GRM: 8.8

CMA / ARV

• ARV (median comp): $221,259
• List price: $159,900
• Delta: -27.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 Piney Point Dr NW	0.02mi	3/2.0	1,445 (-9%)	12mo	$203,000	$140	71
204 NW Piney Dr	0.02mi	3/2.0	1,445 (-9%)	12mo	$203,000	$140	71
605 Dale Ave NW	0.27mi	3/2.5	1,686 (+7%)	5mo	$221,800	$132	66
1613 Ward Dr NW	0.35mi	2/2.5 (-1)	1,656 (+5%)	0mo	$175,000	$106	65
1543 Scott St NW	0.44mi	3/1.5	1,560 (-1%)	15mo	$175,000	$112	63
612 Reid Dr NW	0.36mi	3/2.0	1,480 (-6%)	8mo	$285,000	$193	62
806 Lakeview Ave NW	0.48mi	3/2.0	1,684 (+6%)	10mo	$239,900	$142	54
1631 Warnke Rd	0.23mi	3/2.0	1,364 (-14%)	18mo	$212,500	$156	47
1108 St Joseph Dr NW	0.68mi	4/2.0 (+1)	1,568 (-1%)	13mo	$225,000	$143	47
1020 St Joseph Dr NW	0.66mi	3/2.0	1,382 (-13%)	1mo	$290,000	$210	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-12,259
• Equity at exit: $23,842

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $6,757
• Equity at exit: $13,825

Cash invested: $44,772 (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 35055

• Home prices YoY: -14.4%
• Active inventory: 339
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,516 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$77 /mo · $926/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $215

Break-even live

Break-even rent $1,243

Max offer price $159,900

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $159,900 Active 65 DOM
2. 2026-06-18
   days on market $159,900 Active 64 DOM
3. 2026-06-17
   days on market $159,900 Active 63 DOM
4. 2026-06-16
   days on market $159,900 Active 62 DOM
5. 2026-06-15
   days on market $159,900 Active 61 DOM
6. 2026-06-14
   days on market $159,900 Active 59 DOM
7. 2026-06-12
   days on market $159,900 Active 58 DOM
8. 2026-06-09
   days on market $159,900 Active 55 DOM
9. 2026-06-08
   days on market $159,900 Active 54 DOM
10. 2026-06-07
    days on market $159,900 Active 53 DOM
11. 2026-06-05
    pricedays on market $159,900 Active 50 DOM
12. 2026-06-03
    days on market $169,900 Active 49 DOM
13. 2026-06-02
    days on market $169,900 Active 48 DOM
14. 2026-06-01
    days on market $169,900 Active 47 DOM
15. 2026-05-31
    days on market $169,900 Active 46 DOM
16. 2026-05-30
    days on market $169,900 Active 45 DOM
17. 2026-04-15
    listed $169,900 Active 242-char remark

    Show marketing remark (242 chars)

    THIS IS A TWO BEDROOM, ONE BATH HOUSE WITH METAL ROOF. HAS A LARGE ROOM THAT COULD BE USED AS A THIRD BEDROOM OR DEN. WOULD BE A GREAT STARTER HOME OR A GREAT INVESTMENT/RENTAL PROPERTY. THIS HOUSE SITS ON A 1 ACRE LOT IN THE CITY OF CULLMAN.

18. 2022-04-28
    soldstatus $70,000
19. 2022-04-27
    soldstatus $70,000 38-char remark

    Show marketing remark (38 chars)

    Great house in the city. 3 bed 1 bath.

20. 2022-04-26
    listed $70,000 38-char remark

    Show marketing remark (38 chars)

    Great house in the city. 3 bed 1 bath.

ⓘ 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: $926 · $77/mo
• Projected year-2 tax: $926 · $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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,189
• − Mortgage interest: −$8,957
• − Property taxes: −$926
• − Insurance: −$800
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$4,652
• Taxable loss: −$55
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $2,595/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: Cullman City
• NCES district ID: 0100990
• Math proficiency: 38% ▼ -32.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $38,339
• Composite: 42.81/100
• National rank: #3140
• State rank: #13 of 129 in AL

Livability — Cullman

• Score: 71/100
• State rank: #36
• US rank: #6789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cullman, AL
• County: Cullman County · 47,767 people
• City population: 34,660
• Metro: Cullman, AL
• Population (ZIP): 23,115
• Household income: $58,405
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 499.0

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.60%
• Current HPI: 259.5471
• Rent YoY: —
• Metro: Cullman, 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

+142.7% since first listed

4 events — show timeline

• 2026-04-15 Listed $169,900 SAARMLS
• 2022-04-28 Sold (Public Records) $70,000 Public Records
• 2022-04-27 Sold (MLS) $70,000 SAARMLS
• 2022-04-26 Listed $70,000 SAARMLS

Property tax history

+4.0%/yr

Latest (2025): $926 · +6.8% YoY. Source: county tax records.