2921 Walnut Ave · Anniston, AL 36201

$28,500

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 129 Days on market

Built 1950 6,969 sqft lot $22/sqft · 25% below area Est $39k · 27% 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 +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handy Man special. Needs work but this 3 bedroom, 2 bath home would make a great investment property. Sold As IS.

Key facts

• 6,969 sq ft lot
• 2 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $714 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $25k (12.0% below list) — sets the bar for market timing.
• Cap rate 36.3% vs local median 5.1% in Anniston — 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 58/100 on livability (#348 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, crime F, amenities F.
• Anniston City (urban): math 2% / reading 12% proficiency, ranked #128 of 129 in AL (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 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); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $197 of loan paydown is wiped out by about $855 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $2k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $25,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 4.05% ✓
• Cap rate: 36.34%
• Cash-on-cash: 107.29%
• DSCR: 5.77
• GRM: 2.1

CMA / ARV

• ARV (median comp): $38,906
• List price: $28,500
• Delta: -26.75%
• 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
2921 Walnut Ave	0.00mi	3/2.0	1,314 (+2%)	1mo	$28,000	$21	92
3014 Walnut Ave	0.09mi	3/1.5	1,150 (-11%)	10mo	$144,500	$126	68
1033 W 33rd St	0.57mi	3/1.0	1,242 (-4%)	1mo	$99,000	$80	66
118 W 35th St	0.43mi	2/1.0 (-1)	1,216 (-6%)	8mo	$88,000	$72	59
2604 Mckleroy Ave	0.40mi	2/1.0 (-1)	1,186 (-8%)	5mo	$63,500	$54	59
2832 Brighton Ave	0.65mi	3/2.0	1,280 (-1%)	10mo	$112,255	$88	56
411 Rosewood Ave	0.62mi	3/2.0	1,314 (+2%)	11mo	$150,000	$114	55
300 E 30th St	0.51mi	3/1.0	1,324 (+3%)	20mo	$40,000	$30	55
2909 Mcclellan Blvd	0.63mi	3/1.5	1,174 (-9%)	4mo	$119,900	$102	50
2213 Mckleroy Ave	0.74mi	3/1.0	1,244 (-4%)	16mo	$10,000	$8	46
6 Twine St	0.35mi	2/1.0 (-1)	1,140 (-12%)	17mo	$13,500	$12	46
2415 Noble St	0.62mi	2/1.0 (-1)	1,154 (-10%)	13mo	$26,000	$23	38

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: 6.12×
• Total profit: $40,843
• Equity at exit: $4,249

10-year hold

• IRR: —
• Equity multiple: 12.80×
• Total profit: $94,154
• Equity at exit: $2,464

Cash invested: $7,980 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$149
• Tax from tax record: −$36 /mo · $438/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $714

Break-even live

Break-even rent $250

Max offer price $28,500

Occupancy floor 33%

Sensitivity live

Price	-10% $730	-5% $722	+0% $714	+5% $705	+10% $697
Rent	-10% $622	-5% $668	+0% $714	+5% $759	+10% $805
Rate	-1.0pp $728	-0.5pp $721	base $714	+0.5pp $706	+1.0pp $699

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: $7,125
• Closing costs: $855
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Dogwood Ave Anniston, AL	3.0	2.0	1015	$1,100	$1.08	45d	1	0.54mi
323 W 22nd St Anniston, AL	2.0	1.0	1194	$950	$0.80	45d	1	0.75mi
2117 Moore Ave Unit NA Anniston, AL	2.0	1.0	1102	$1,385	$1.26	45d	1	0.80mi
1831 Moore Ave Anniston, AL	3.0	2.0	1494	$1,395	$0.93	45d	1	1.05mi
1605 W 21st St Anniston, AL	3.0	1.0	970	$950	$0.98	45d	1	1.32mi

Listing history 10 events

1. 2026-04-29
   price $28,500 114-char remark

   Show marketing remark (114 chars)

   Handy Man special. Needs work but this 3 bedroom, 2 bath home would make a great investment property. Sold As IS.

2. 2026-01-12
   listed $30,000 Active 114-char remark

   Show marketing remark (114 chars)

   Handy Man special. Needs work but this 3 bedroom, 2 bath home would make a great investment property. Sold As IS.

3. 2021-11-03
   soldstatus $30,000 Sold 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

4. 2021-10-29
   historical 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

5. 2020-05-09
   price $31,000 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

6. 2020-05-09
   price $28,000 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

7. 2020-05-07
   price $26,900 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

8. 2020-04-27
   price $31,900 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

9. 2020-04-02
   listed $24,900 Active 387-char remark

   Show marketing remark (387 chars)

   Great time to buy investment properties with instant income at closing. This quaint home features 3 bedrooms, 1.5 bath, kitchen, breakfast area and laundry room. The monthly income offsets your payment and allows you to start building for your future. Call today to buy this cutie or buy the whole portfolio of 14 properties. Now is the time to buy with low rates. Invest in your future.

10. 2006-10-20
    soldstatus $24,000

ⓘ 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: $438 · $36/mo
• Projected year-2 tax: $438 · $36/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 · 21 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: $13,843
• − Mortgage interest: −$1,596
• − Property taxes: −$438
• − Insurance: −$142
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$829
• Taxable income: $8,622
• Est. tax owed @ 24.0%: −$2,069
• After-tax cash flow: $6,493/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: Anniston City
• NCES district ID: 0100090
• Math proficiency: 2% ▼ -20.00%
• Reading proficiency: 12% ▼ -15.00%
• Median HH income: $31,824
• Composite: 5.36/100
• National rank: #10030
• State rank: #128 of 129 in AL

Livability — Anniston

• Score: 58/100
• State rank: #348
• US rank: #20680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anniston, AL
• City population: 19,220
• 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

+18.8% since first listed

10 events — show timeline

• 2026-04-29 Price Changed $28,500 VMLS
• 2026-01-12 Listed $30,000 VMLS
• 2021-11-03 Sold (MLS) $30,000 Greater Alabama MLS
• 2021-10-29 Delisted — Greater Alabama MLS
• 2020-05-09 Price Changed $31,000 Greater Alabama MLS
• 2020-05-09 Price Changed $28,000 Greater Alabama MLS
• 2020-05-07 Price Changed $26,900 Greater Alabama MLS
• 2020-04-27 Price Changed $31,900 Greater Alabama MLS
• 2020-04-02 Listed $24,900 Greater Alabama MLS
• 2006-10-20 Sold (Public Records) $24,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $438 · +0.0% YoY. Source: county tax records.