29 Co Rd 376 · Florence, AL 35634

$127,500

2 bd · 1.0 ba · 1,084 sqft · SingleFamily public records · 43 Days on market

Built 1930 10,019 sqft lot $118/sqft · at area comps Est $144k · 12% under

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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 +19.6/30.0
• ARV discount +12.7/15.0
• DSCR +6.2/10.0
• Livability +4.1/5.0
• 1% rule +4.0/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

STOP & LOOK!!! This home is ready to Move-In with many updates throughout, including fresh paint and sheet rock, flooring, updated electrical and interior plumbing, HVAC, renovated kitchen and bath. There are two bedrooms, a large laundry, and a new deck overlooking the partially privacy-fenced backyard. CALL NOW before it's SOLD!!! This is a Fannie Mae HomePath property.

Key facts

• Updated electrical
• Interior plumbing
• Fresh paint

Tags

• FRESH PAINT
• UPDATED ELECTRICAL
• INTERIOR PLUMBING
• RENOVATED KITCHEN
• RENOVATED BATH
• NEW DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (10.1% below list).
• Recommended offer: $115k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Lauderdale County (rural): math 19% / reading 46% proficiency, ranked #53 of 129 in AL (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 5 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; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,678 (10.1% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• GRM: 9.3

CMA / ARV

• ARV (median comp): $144,224
• List price: $127,500
• Delta: -11.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16 Shoals Blvd	0.44mi	3/1.0 (+1)	1,125 (+4%)	4mo	$175,000	$156	65
4110 Eastwood Dr	0.74mi	2/1.0	1,056 (-3%)	6mo	$115,000	$109	56
151 N Leland Dr	0.74mi	3/1.0 (+1)	1,150 (+6%)	19mo	$125,000	$109	34

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: -8.6%
• Equity multiple: 0.68×
• Total profit: $-11,336
• Equity at exit: $19,011

10-year hold

• IRR: 0.8%
• Equity multiple: 1.06×
• Total profit: $1,975
• Equity at exit: $11,024

Cash invested: $35,700 (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 35634

• Home prices YoY: -21.3%
• Active inventory: 183
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,147 high
• Mortgage (P&I): −$669
• Tax from tax record: −$37 /mo · $443/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $147

Break-even live

Break-even rent $960

Max offer price $127,500

Occupancy floor 82%

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Foxfield Pl Florence, AL	2.0	2.0	1250	$1,120	$0.90	44d	1	0.76mi
137 Deerfield Pl Florence, AL	2.0	2.0	1250	$1,278	$1.02	44d	12	1.10mi
601 Bailey Springs Rd Florence, AL	2.0	2.0	1250	$1,048	$0.84	44d	1	1.21mi
416 N Broadway St Florence, AL	3.0	2.0	1125	$1,450	$1.29	44d	1	1.22mi
3504 Cole Ave Unit B Florence, AL	2.0	1.0	900	$750	$0.83	44d	1	1.37mi

Listing history 4 events

1. 2026-05-19
   status Pending 380-char remark

   Show marketing remark (380 chars)

   STOP & LOOK!!! This home is ready to Move-In with many updates throughout, including fresh paint and sheet rock, flooring, updated electrical and interior plumbing, HVAC, renovated kitchen and bath. There are two bedrooms, a large laundry, and a new deck overlooking the partially privacy-fenced backyard. CALL NOW before it's SOLD!!! This is a Fannie Mae HomePath property.

2. 2026-04-09
   status Active 380-char remark

   Show marketing remark (380 chars)

   STOP & LOOK!!! This home is ready to Move-In with many updates throughout, including fresh paint and sheet rock, flooring, updated electrical and interior plumbing, HVAC, renovated kitchen and bath. There are two bedrooms, a large laundry, and a new deck overlooking the partially privacy-fenced backyard. CALL NOW before it's SOLD!!! This is a Fannie Mae HomePath property.

3. 2026-04-06
   status Pending 380-char remark

   Show marketing remark (380 chars)

   STOP & LOOK!!! This home is ready to Move-In with many updates throughout, including fresh paint and sheet rock, flooring, updated electrical and interior plumbing, HVAC, renovated kitchen and bath. There are two bedrooms, a large laundry, and a new deck overlooking the partially privacy-fenced backyard. CALL NOW before it's SOLD!!! This is a Fannie Mae HomePath property.

4. 2026-04-03
   listed $127,500 Active 380-char remark

   Show marketing remark (380 chars)

   STOP & LOOK!!! This home is ready to Move-In with many updates throughout, including fresh paint and sheet rock, flooring, updated electrical and interior plumbing, HVAC, renovated kitchen and bath. There are two bedrooms, a large laundry, and a new deck overlooking the partially privacy-fenced backyard. CALL NOW before it's SOLD!!! This is a Fannie Mae HomePath property.

ⓘ 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: $443 · $37/mo
• Projected year-2 tax: $523 · $44/mo
• Expected delta: +$80/yr (+$7/mo · 18.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥108°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,761
• − Mortgage interest: −$7,142
• − Property taxes: −$443
• − Insurance: −$638
• − Repairs & maintenance: −$1,101
• − Management: −$1,101
• − Depreciation: −$3,709
• Taxable loss: −$372
• Est. tax savings @ 24.0%: +$89
• After-tax cash flow: $1,857/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: Lauderdale County
• NCES district ID: 0102010
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $47,501
• Composite: 27.93/100
• National rank: #6863
• State rank: #53 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 34,028
• Population (ZIP): 10,009

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -52.11%
• Current HPI: 192.6534
• 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

4 events — show timeline

• 2026-05-19 Pending — SAARMLS
• 2026-04-09 Relisted — SAARMLS
• 2026-04-06 Pending — SAARMLS
• 2026-04-03 Listed $127,500 SAARMLS

Property tax history

+4.7%/yr

Latest (2024): $443 · +5.7% YoY. Source: county tax records.