1015 Patterson St · West End-Cobb Town, AL 36201

$94,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 9 Days on market

Built 1956 0.25 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 +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.0/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Income-producing opportunities like this don't come along often. Situated on a generous lot, this property includes a distinctive 3-bedroom, 1-bath rock home with a metal roof and HVAC system, as well as a separate 2-bedroom, 2-bath mobile home. Whether you're looking to expand your rental portfolio, live in one unit while generating income from the other, or create a multi-generational living arrangement, this property offers flexibility and value. Conveniently located near schools, shopping, and local amenities, this is an opportunity to own two residences on one parcel with strong income potential.

Key facts

• 0.25 acre lot
• Built 1956
• Listed 8 days

Property features AI

Finance

• Other: Parcel ID: 22-01-12-2-002-015.000; Lot size approximately 0.25 acres; Not in a flood plain; Subdivision: Anniston; Driving directions available
• Financial info: Garbage fee of $20 monthly; Down payment assistance available

Exterior

• Parking: Driveway parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service availability unknown
• Home design: Existing (previously built) property; Single-level rooms located on main level
• Construction: Siding (other); Crawl space foundation
• Exterior features: Fenced yard

Interior

• Kitchen: Laminate countertops; Electric oven
• Bedrooms: Three bedrooms on the main level; Bonus room on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Handyman special; Pull-down attic; Ceilings: Other (see remarks)
• Laundry & utility: Main-level laundry room; Laundry room with floor drain; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($950 rent vs $95k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Calhoun County (rural): math 19% / reading 49% proficiency, ranked #46 of 129 in AL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Wellborn Elementary School (math 20% / reading 39%, grade F, #367 of 627 statewide, top 60%, 582 students, 83% FRL); Wellborn High School (math 8% / reading 36%, grade F, #142 of 305 statewide, top 51%, 491 students, 81% FRL) — zoned schools average 82% FRL vs 49% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $45k; list at $95k implies a 111% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $94,900

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.00% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $16,650
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
711 N Ledbetter St	0.44mi	2/1.0 (-1)	848 (-8%)	20mo	$15,000	$18	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: -5.0%
• Equity multiple: 0.81×
• Total profit: $-4,947
• Equity at exit: $14,150

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $9,046
• Equity at exit: $8,205

Cash invested: $26,572 (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 36201

• Active inventory: 73
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $950 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $164

Break-even live

Break-even rent $742

Max offer price $94,900

Occupancy floor 78%

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 W 21st St Anniston, AL	3.0	1.0	970	$950	$0.98	43d	1	1.19mi

Listing history 8 events

1. 2026-06-19
   days on market $94,900 Active 9 DOM
2. 2026-06-18
   days on market $94,900 Active 8 DOM
3. 2026-06-17
   days on market $94,900 Active 7 DOM
4. 2026-06-16
   days on market $94,900 Active 6 DOM
5. 2026-06-15
   days on market $94,900 Active 5 DOM
6. 2026-06-14
   days on market $94,900 Active 3 DOM
7. 2026-06-13
   remarks 608-char remark
8. 2026-06-13
   listed $94,900 Active 2 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: $589 · $49/mo
• Projected year-2 tax: $589 · $49/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 ≥105°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,400
• − Mortgage interest: −$5,316
• − Property taxes: −$589
• − Insurance: −$474
• − Repairs & maintenance: −$912
• − Management: −$912
• − Depreciation: −$2,761
• Taxable income: $436
• Est. tax owed @ 24.0%: −$105
• After-tax cash flow: $1,866/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: Calhoun County
• NCES district ID: 0100540
• Math proficiency: 19% ▼ -26.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $44,891
• Composite: 28.91/100
• National rank: #6635
• State rank: #46 of 129 in AL

Livability — West End-Cobb Town

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: West End-Cobb Town, AL
• City population: 17,406
• Population (ZIP): 17,406

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 109,765 people
• By 2030: 105,708 · -3.7%
• By 2040: 96,192 · -12.4%
• By 2050: 86,413 · -21.3%
• By 2075: 63,467 · -42.2%
• By 2100: 44,704 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 47% Black 46% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Scandinavian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+44.8) · D 27.2% · R 71.9%
• 2008→2024 swing: -12.2pp toward R · 2008: -32.5pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+39.0 2016: R+41.4 2012: R+31.9 2008: R+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.92%
• Current HPI: 59.1512
• 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

+28.2% since first listed

3 events — show timeline

• 2026-06-10 Listed $94,900 Greater Alabama MLS
• 2026-04-20 Sold (Public Records) $45,000 Public Records
• 2024-08-13 Sold (Public Records) $74,000 Public Records

Property tax history

+16.3%/yr

Latest (2025): $589 · +141.9% YoY. Source: county tax records.