403 Oakleigh Dr · Gadsden, AL 35901

$22,500

4 bd · 1.0 ba · 1,692 sqft · SingleFamily public records · 49 Days on market

Built 1958 7,840 sqft lot $13/sqft · 87% below area ↓ 44% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Investors, DIY, home is a 4 bedroom 1 bath home with a huge family room, newer hot water heater, electrical panel is breakers NOT fuses. Fenced in front and back yard. Bring your imagination, paint the drywall walls, new flooring and update kitchen and bath and this home could be brought back to life.

Key facts

• Huge family room
• 7,840 sq ft lot
• Built 1958

Tags

• HUGE FAMILY ROOM
• NEWER HOT WATER HEATER
• ELECTRICAL PANEL IS BREAKERS
• FENCED IN FRONT AND BACK YARD

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Oakleigh Estates

Exterior

• Parking: Concrete driveway
• Utilities: Public sewer; Public water
• Home design: Single-family residence; One story; Built in 1958; Residential property
• Construction: No fireplaces
• Exterior features: Concrete driveway; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Crawl space basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.
• Cap rate 57.6% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thompson Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 217 students, 90% FRL); Gadsden Middle School (math 15% / reading 51%, grade F, #101 of 257 statewide, top 40%, 464 students, 75% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL).
• Market conditions: 151 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $156 of loan paydown is wiped out by about $675 of value loss. Plan a longer hold.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,825 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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?
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: 6.22% ✓
• Cap rate: 57.64%
• Cash-on-cash: 183.39%
• DSCR: 9.16
• GRM: 1.3

CMA / ARV

• ARV (median comp): $172,952
• List price: $22,500
• Delta: -86.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 Anderson Rd	0.69mi	3/1.0 (-1)	1,644 (-3%)	7mo	$148,000	$90	52
771 Anderson Rd	0.68mi	3/2.0 (-1)	1,785 (+6%)	4mo	$181,750	$102	47
123 Brentwood Dr	0.73mi	3/2.0 (-1)	1,558 (-8%)	5mo	$196,000	$126	40
2020 Mayfield Dr	0.71mi	3/2.0 (-1)	1,552 (-8%)	10mo	$161,900	$104	36
2540 Ewing Ave	0.52mi	3/2.0 (-1)	1,480 (-12%)	16mo	$169,000	$114	33
133 Brentwood Dr	0.66mi	3/2.0 (-1)	1,470 (-13%)	14mo	$179,000	$122	26

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: —
• Equity multiple: 10.16×
• Total profit: $57,689
• Equity at exit: $3,355

10-year hold

• IRR: —
• Equity multiple: 21.52×
• Total profit: $129,252
• Equity at exit: $1,945

Cash invested: $6,300 (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 35901

• Home prices YoY: -9.9%
• Active inventory: 151
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$118
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $963

Break-even live

Break-even rent $182

Max offer price $22,500

Occupancy floor 26%

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $22,500 Active 49 DOM
2. 2026-06-18
   days on market $22,500 Active 48 DOM
3. 2026-06-17
   days on market $22,500 Active 47 DOM
4. 2026-06-16
   days on market $22,500 Active 46 DOM
5. 2026-06-15
   days on market $22,500 Active 45 DOM
6. 2026-06-14
   days on market $22,500 Active 43 DOM
7. 2026-06-12
   days on market $22,500 Active 42 DOM
8. 2026-06-09
   days on market $22,500 Active 39 DOM
9. 2026-06-09
   price $22,500 Active 38 DOM
10. 2026-06-08
    days on market $25,000 Active 38 DOM
11. 2026-06-07
    days on market $25,000 Active 37 DOM
12. 2026-06-07
    days on market $25,000 Active 36 DOM
13. 2026-06-04
    days on market $25,000 Active 33 DOM
14. 2026-06-02
    days on market $25,000 Active 32 DOM
15. 2026-06-01
    days on market $25,000 Active 31 DOM
16. 2026-05-31
    days on market $25,000 Active 30 DOM
17. 2026-05-31
    days on market $25,000 Active 29 DOM
18. 2026-05-13
    price $25,000 302-char remark
19. 2026-05-01
    listed $39,900 Active 302-char remark

ⓘ 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: $194 · $16/mo
• Projected year-2 tax: $194 · $16/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 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $16,805
• − Mortgage interest: −$1,260
• − Property taxes: −$194
• − Insurance: −$112
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$655
• Taxable income: $11,895
• Est. tax owed @ 24.0%: −$2,855
• After-tax cash flow: $8,699/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 19,186

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 55% Black 32% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.83%
• Current HPI: 243.6795
• 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

-43.6% since first listed

3 events — show timeline

• 2026-06-08 Price Changed $22,500 VMLS
• 2026-05-13 Price Changed $25,000 VMLS
• 2026-05-01 Listed $39,900 VMLS

Property tax history

-49.7%/yr

Latest (2023): $194 · -49.7% YoY. Source: county tax records.