134 Park Place Ln · Alabaster, AL 35007

$234,900

3 bd · 2.0 ba · 1,251 sqft · SingleFamily public records · 16 Days on market

Built 1994 9,147 sqft lot Est $220k · 7% over

---

Why this score? — see what drove the D- 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 +14.3/30.0
• ARV discount +4.5/15.0
• DSCR +4.4/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Conveniently located in the heart of Alabaster, this beautifully updated 3-bedroom, 2-bath home is move-in ready! Recent improvements include new luxury vinyl plank flooring throughout, fresh paint, and all-new stainless steel appliances. Vaulted ceilings create a spacious, open feel, while the screened patio provides the perfect place to relax and enjoy the outdoors. The durable metal roof offers added peace of mind and low-maintenance living. Conveniently located near shopping, dining, schools, parks, and everything Alabaster has to offer, this home is ready to welcome its next owners. Don't miss your chance to make it your next Home Sweet Home!

Key facts

• 9,147 sq ft lot
• Built 1994
• Listed 16 days

Property features AI

Finance

• Other: Lot size approximately 0.21 acres; No flood plain; No pool; Not a log home; Subdivision: Park Place

Exterior

• Parking: Driveway parking
• Utilities: Public water; Connected sewer; Underground utilities; Electric water heater; Internet service available
• Home design: Single-family residence (existing); Slab foundation; Siding: Hardiplank
• Construction: Hardiplank siding
• Exterior features: Screened porch; Screened patio; Patio

Interior

• Kitchen: Laminate countertops; Electric cooktop; Electric oven; Built-in microwave; Built-in dishwasher; Refrigerator
• Bedrooms: Master bedroom (main level); Two additional bedrooms (main level); Walk-in closets
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Tub/shower combination
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cathedral/vaulted and trey ceilings; Brick wood-burning fireplace in the living room; Attic with pull-down access; Some stainless steel appliances
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $44 ($529/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 $184k (21.5% below list).
• Recommended offer: $184k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.1% in Alabaster — 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 76/100 on livability (#14 in AL, #3,512 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D-, commute F, health & safety F.
• Alabaster City (suburban): math 30% / reading 57% proficiency, ranked #17 of 129 in AL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Creek View Elementary School (math 56% / reading 71%, grade B, #46 of 627 statewide, top 8%, 946 students, 48% FRL); Thompson Middle School (math 24% / reading 57%, grade F, #56 of 257 statewide, top 22%, 1,434 students, 51% FRL); Thompson High School (math 34% / reading 38%, grade F, #43 of 305 statewide, top 14%, 2,203 students, 48% FRL) — zoned schools average 49% FRL vs 31% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 226 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $120k; list at $235k implies a 96% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $184,383 (21.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.78% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $220,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
541 Warrior Dr	0.25mi	3/2.0	1,234 (-1%)	3mo	$235,000	$190	84
200 Wild Flower Trl	0.24mi	3/2.0	1,249 (-0%)	12mo	$220,000	$176	79
121 Park Place Way	0.16mi	3/2.0	1,280 (+2%)	12mo	$237,000	$185	78
144 Buck Creek Dr	0.23mi	3/2.0	1,249 (-0%)	14mo	$219,000	$175	77
101 Park Place Way	0.17mi	3/2.0	1,209 (-3%)	14mo	$245,000	$203	75
224 Park Place Way	0.22mi	3/2.0	1,210 (-3%)	12mo	$218,090	$180	74
196 Jasmine Dr	0.46mi	3/2.0	1,195 (-4%)	4mo	$220,000	$184	68
240 Jasmine Dr	0.38mi	3/2.0	1,166 (-7%)	6mo	$203,000	$174	66
204 Wild Flower Trl	0.25mi	3/2.0	1,362 (+9%)	13mo	$214,900	$158	63
533 Warrior Dr	0.24mi	3/2.0	1,400 (+12%)	14mo	$242,500	$173	57
226 Jasmine Dr	0.42mi	3/2.0	1,354 (+8%)	12mo	$228,000	$168	57
218 Buck Creek Cir	0.29mi	3/2.0	1,438 (+15%)	8mo	$240,000	$167	55

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-36,902
• Equity at exit: $35,024

10-year hold

• IRR: -8.9%
• Equity multiple: 0.47×
• Total profit: $-35,165
• Equity at exit: $20,310

Cash invested: $65,772 (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 35007

• Home prices YoY: -35.0%
• Rents YoY: 2.2%
• Active inventory: 226
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,844 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$83 /mo · $994/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $44

Break-even live

Break-even rent $1,788

Max offer price $234,900

Occupancy floor 93%

Sensitivity live

Price	-10% $177	-5% $111	+0% $44	+5% $-22	+10% $-89
Rent	-10% $-102	-5% $-29	+0% $44	+5% $117	+10% $190
Rate	-1.0pp $162	-0.5pp $104	base $44	+0.5pp $-17	+1.0pp $-79

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
213 Park Place Way Alabaster, AL	3.0	2.0	1223	$1,681	$1.37	25d	1	0.15mi
1090 Thompson Rd Alabaster, AL	3.0	2.5	1615	$1,600	$0.99	45d	1	0.44mi
203 Winterhaven Dr Alabaster, AL	3.0	2.0	1431	$1,550	$1.08	5d	1	1.14mi

Listing history 12 events

1. 2026-06-21
   days on market $234,900 Active 16 DOM
2. 2026-06-18
   days on market $234,900 Active 13 DOM
3. 2026-06-17
   days on market $234,900 Active 12 DOM
4. 2026-06-16
   days on market $234,900 Active 11 DOM
5. 2026-06-15
   days on market $234,900 Active 10 DOM
6. 2026-06-13
   days on market $234,900 Active 8 DOM
7. 2026-06-10
   days on market $234,900 Active 5 DOM
8. 2026-06-09
   days on market $234,900 Active 4 DOM
9. 2026-06-08
   days on market $234,900 Active 3 DOM
10. 2026-06-07
    statusdays on market $234,900 Active 2 DOM
11. 2026-06-02
    remarks 655-char remark
12. 2026-06-02
    listed $234,900 Coming Soon 1 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: $994 · $83/mo
• Projected year-2 tax: $994 · $83/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 7/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,126
• − Mortgage interest: −$13,158
• − Property taxes: −$994
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,770
• − Management: −$1,770
• − Depreciation: −$6,833
• Taxable loss: −$3,574
• Est. tax savings @ 24.0%: +$858
• After-tax cash flow: $1,387/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: Alabaster City
• NCES district ID: 0100190
• Math proficiency: 30% ▼ -27.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $68,690
• Composite: 39.07/100
• National rank: #4052
• State rank: #17 of 129 in AL

Livability — Alabaster

• Score: 76/100
• State rank: #14
• US rank: #3512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alabaster, AL
• County: Shelby County · 188,970 people
• City population: 28,586
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 28,586
• Household income: $88,505
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 325.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Italian 3% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.63%
• Current HPI: 211.0691
• Rent YoY: ▲ 2.16%
• Metro: Birmingham-Hoover, AL
• 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

+104.4% since first listed

3 events — show timeline

• 2026-06-02 Coming Soon $234,900 Greater Alabama MLS
• 2026-05-20 Sold (Public Records) $120,000 Public Records
• 2004-07-19 Sold (Public Records) $114,900 Public Records

Property tax history

+4.8%/yr

Latest (2025): $994 · +1.9% YoY. Source: county tax records.