2316 E 15th Ave · Sheffield, AL 35660

$44,900

3 bd · 1.0 ba · 1,299 sqft · SingleFamily public records · 326 Days on market

7,841 sqft lot $35/sqft · 45% below area Est $86k · 48% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for investor! Home is situated on a nice big lot downtown Sheffield. Close to school, shopping, restaurants etc. .. This area is seeing a lot of home revitalizations and will be a great fixer upper for flipping, renting, or to live in. You can rarely even find a lot to build on for the price of this home. All info to be verified by purchaser. Priced for quick sale!

Key facts

• Big lot
• Downtown sheffield
• Home revitalizations

Tags

• BIG LOT
• DOWNTOWN SHEFFIELD
• HOME REVITALIZATIONS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.6% vs local median 5.1% in Sheffield — 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 60/100 on livability (#312 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Sheffield City (suburban): math 12% / reading 34% proficiency, ranked #103 of 129 in AL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 115 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 326 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $15k; list at $45k implies a 199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $39,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 326 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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?
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: 2.28% ✓
• Cap rate: 20.64%
• Cash-on-cash: 51.25%
• DSCR: 3.28
• GRM: 3.7

CMA / ARV

• ARV (median comp): $86,032
• List price: $44,900
• Delta: -47.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 N Atlanta Ave	0.19mi	2/1.0 (-1)	1,340 (+3%)	9mo	$152,000	$113	73
1510 E 29th St	0.51mi	3/1.0	1,279 (-2%)	5mo	$128,400	$100	70
503 Austin Ave	0.51mi	3/1.0	1,274 (-2%)	6mo	$98,000	$77	68
2612 E 17th Ave	0.31mi	3/1.0	1,210 (-7%)	8mo	$71,550	$59	68
803 SE 20th St	0.69mi	3/1.0	1,345 (+4%)	1mo	$50,000	$37	61
607 E 12th St	0.58mi	3/2.0	1,368 (+5%)	3mo	$140,000	$102	58
1217 Greer St	0.71mi	3/1.5	1,386 (+7%)	2mo	$182,900	$132	52
1503 28th St	0.35mi	3/2.0	1,462 (+12%)	8mo	$125,000	$85	52
401 St Louis Ave	0.68mi	3/2.0	1,218 (-6%)	3mo	$165,000	$135	52
1305 Gordon Dr	0.69mi	3/2.0	1,212 (-7%)	1mo	$80,000	$66	51
505 St Louis Ave	0.69mi	3/1.0	1,145 (-12%)	4mo	$70,000	$61	45
301 River Bluff Dr	0.70mi	2/2.0 (-1)	1,385 (+7%)	9mo	$193,000	$139	40

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: 49.1%
• Equity multiple: 3.14×
• Total profit: $26,914
• Equity at exit: $6,695

10-year hold

• IRR: 54.6%
• Equity multiple: 6.36×
• Total profit: $67,436
• Equity at exit: $3,882

Cash invested: $12,572 (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 35660

• Home prices YoY: -29.5%
• Active inventory: 115
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,022 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$16 /mo · $194/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $537

Break-even live

Break-even rent $342

Max offer price $44,900

Occupancy floor 42%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 N Nashville Ave Sheffield, AL	2.0	2.0	1200	$1,100	$0.92	43d	1	0.55mi
3323 Oakwood Blvd Sheffield, AL	2.0	1.0	1100	$1,000	$0.91	44d	1	0.91mi
100 Brink Ct Sheffield, AL	2.0	2.0	1100	$899	$0.82	43d	5	0.94mi

Listing history 19 events

1. 2026-06-19
   days on market $44,900 Active 326 DOM
2. 2026-06-18
   days on market $44,900 Active 325 DOM
3. 2026-06-17
   days on market $44,900 Active 324 DOM
4. 2026-06-16
   days on market $44,900 Active 323 DOM
5. 2026-06-15
   days on market $44,900 Active 322 DOM
6. 2026-06-14
   days on market $44,900 Active 320 DOM
7. 2026-06-13
   days on market $44,900 Active 319 DOM
8. 2026-06-10
   days on market $44,900 Active 317 DOM
9. 2026-06-09
   days on market $44,900 Active 316 DOM
10. 2026-06-08
    days on market $44,900 Active 315 DOM
11. 2026-06-07
    days on market $44,900 Active 314 DOM
12. 2026-06-05
    days on market $44,900 Active 311 DOM
13. 2026-06-02
    days on market $44,900 Active 309 DOM
14. 2026-06-01
    days on market $44,900 Active 308 DOM
15. 2026-05-31
    days on market $44,900 Active 307 DOM
16. 2026-05-30
    days on market $44,900 Active 306 DOM
17. 2025-07-28
    listed $44,900 Active 386-char remark

    Show marketing remark (386 chars)

    Great opportunity for investor! Home is situated on a nice big lot downtown Sheffield. Close to school, shopping, restaurants etc. .. This area is seeing a lot of home revitalizations and will be a great fixer upper for flipping, renting, or to live in. You can rarely even find a lot to build on for the price of this home. All info to be verified by purchaser. Priced for quick sale!

18. 2020-07-30
    soldstatus $15,000
19. 2020-03-16
    soldstatus $186,000

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $12,262
• − Mortgage interest: −$2,515
• − Property taxes: −$194
• − Insurance: −$224
• − Repairs & maintenance: −$981
• − Management: −$981
• − Depreciation: −$1,306
• Taxable income: $6,061
• Est. tax owed @ 24.0%: −$1,455
• After-tax cash flow: $4,989/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: Sheffield City
• NCES district ID: 0103000
• Math proficiency: 12% ▼ -30.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $34,188
• Composite: 18.8/100
• National rank: #8866
• State rank: #103 of 129 in AL

Livability — Sheffield

• Score: 60/100
• State rank: #312
• US rank: #19366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield, AL
• City population: 9,385
• Population (ZIP): 9,385

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.23%
• Current HPI: 177.3226
• 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

-75.9% since first listed

3 events — show timeline

• 2025-07-28 Listed $44,900 SAARMLS
• 2020-07-30 Sold (Public Records) $15,000 Public Records
• 2020-03-16 Sold (Public Records) $186,000 Public Records

Property tax history

+1.4%/yr

Latest (2025): $194 · +6.8% YoY. Source: county tax records.