304-306 W Shriver St Unit 1-5 · Summerdale, AL 36580

$530,000

12 bd · 6.0 ba · 4,100 sqft · MultiFamily · 44 Days on market

Built 1918 Fair condition 0.64 ac lot

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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
• DSCR +10.0/10.0
• Appreciation +9.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Great opportunity for INVESTORS!!Summerdale Alabama close to the beaches, Foley and Fairhope!4 plex currently rented with home on the same property currently available. Buyer to verify all information during due diligence.

Key facts

• 0.64 acre lot
• Built 1918
• Listed 43 days

Property features AI

Finance

• HOA & community: No transfer fees; No community features

Exterior

• Parking: Parking for three or more vehicles; See remarks for parking details
• Utilities: Served by Summerdale Utilities; Electric power
• Home design: Multi-story structure; Resale property; One level listed
• Construction: Wood siding; Composition roof
• Exterior features: No waterfront; Located near Hwy 59 (cross street)

Interior

• Kitchen: Electric range
• Flooring: Laminate
• Bathrooms: 6 full bathrooms
• Heating & cooling: Electric heating; Has heating
• Interior features: No fireplace; Laminate flooring

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/1.5-bath units multifamily listed at $530k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $494/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $530k).
• Recommended offer: $514k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.7% in Summerdale — 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 57/100 on livability (#384 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Summerdale School (math 23% / reading 55%, grade F, #257 of 627 statewide, top 41%, 573 students, 77% FRL); Robertsdale High School (math 34% / reading 34%, grade F, #53 of 305 statewide, top 18%, 1,450 students, 64% FRL) — zoned schools average 70% FRL vs 38% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 143 active listings in the ZIP; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• In year one you build about $46k of equity ($4k loan paydown + $42k appreciation (8.0% local appreciation)).
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.0% appreciation + 3.0% rent growth), your $148k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$74k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($514k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $514,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1918 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.35% ✓
• Cap rate: 10.77%
• Cash-on-cash: 15.98%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.4%
• Equity multiple: 3.31×
• Total profit: $343,404
• Equity at exit: $401,692

10-year hold

• IRR: 28.9%
• Equity multiple: 7.08×
• Total profit: $903,009
• Equity at exit: $796,437

Cash invested: $148,400 (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 36580

• Home prices YoY: 2.8%
• Active inventory: 143
• Price-to-rent: 24.7×

Monthly cashflow live

• Estimated rent: $7,138 medium
• Mortgage (P&I): −$2,779
• Tax est. 1.5%: −$662 /mo · $7,950/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,499
• Net cashflow: $1,976

Break-even live

Break-even rent $4,636

Max offer price $530,000

Occupancy floor 67%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	1.5	$7,140
Total (4 units)			$7,138

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: $132,500
• Closing costs: $15,900
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $530,000 Active 44 DOM
2. 2026-06-18
   days on market $530,000 Active 43 DOM
3. 2026-06-17
   days on market $530,000 Active 42 DOM
4. 2026-06-16
   days on market $530,000 Active 41 DOM
5. 2026-06-15
   days on market $530,000 Active 40 DOM
6. 2026-06-14
   days on market $530,000 Active 38 DOM
7. 2026-06-13
   days on market $530,000 Active 37 DOM
8. 2026-06-10
   days on market $530,000 Active 35 DOM
9. 2026-06-09
   days on market $530,000 Active 34 DOM
10. 2026-06-08
    days on market $530,000 Active 33 DOM
11. 2026-06-07
    days on market $530,000 Active 32 DOM
12. 2026-06-05
    days on market $530,000 Active 29 DOM
13. 2026-06-03
    days on market $530,000 Active 28 DOM
14. 2026-06-02
    days on market $530,000 Active 27 DOM
15. 2026-06-01
    days on market $530,000 Active 26 DOM
16. 2026-05-31
    days on market $530,000 Active 25 DOM
17. 2026-05-30
    days on market $530,000 Active 24 DOM
18. 2026-05-06
    listed $530,000 Active 222-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,656
• − Mortgage interest: −$29,688
• − Property taxes: −$7,950
• − Insurance: −$2,650
• − Repairs & maintenance: −$6,852
• − Management: −$6,852
• − Depreciation: −$15,418
• Taxable income: $16,245
• Est. tax owed @ 24.0%: −$3,899
• After-tax cash flow: $19,817/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, including landscaping and exterior painting, to improve its condition and value.

Repairs flagged

• Major Landscaping — Overgrown and needs trimming
• Major Exterior paint — Weathered and needs repainting

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value
• Rental HVAC system maintenance — Improves tenant satisfaction and reduces maintenance costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown and needs trimming	Major	$15,000–50,000
Exterior paint · Weathered and needs repainting	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Rental HVAC system maintenance — Improves tenant satisfaction and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Summerdale

• Score: 57/100
• State rank: #384
• US rank: #21872

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Summerdale, AL
• City population: 7,025
• Population (ZIP): 7,025

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 17% Hispanic / Latino 17% Black 5%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Serbian 2% Lithuanian 2% Italian 2%
• Foreign-born: 6% · Canada
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.97%
• Current HPI: 288.8697
• 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

1 event — show timeline

• 2026-05-06 Listed $530,000 BCAR