1002 East St · Moulton, AL 35650

$104,900

9 bd · 9.0 ba · 1,814 sqft · MultiFamily · 730 Days on market

Fair condition 0.38 ac lot ↓ 19% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

3-unit multifamily home in Cherokee Acres Subdivision, ready for your personal touch! Each unit features a cozy living room, kitchen, 1 bedroom, and 1 full bath. Two gravel driveways offer 6 parking spaces. Enjoy the covered patios of the two main-level apartments. Each unit is currently rented on a month-to-month basis. Conveniently located near restaurants, schools, and doctors' offices, this property offers comfort and convenience in a desirable location. Don't miss this great investment opportunity!

Key facts

• Covered patios
• Desirable location
• 0.38 acre lot

Tags

• COVERED PATIOS
• DESIRABLE LOCATION
• GREAT INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $440/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 3.5% in Moulton — 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 (#296 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Lawrence County (rural): math 14% / reading 38% proficiency, ranked #85 of 129 in AL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 94 active listings in the ZIP; 5 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lawrence County population projected at -25% 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 $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 730 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 730 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 2.47% ✓
• Cap rate: 21.41%
• Cash-on-cash: 53.98%
• DSCR: 3.40
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 52.1%
• Equity multiple: 3.29×
• Total profit: $67,186
• Equity at exit: $15,641

10-year hold

• IRR: 57.4%
• Equity multiple: 6.69×
• Total profit: $167,014
• Equity at exit: $9,070

Cash invested: $29,372 (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 35650

• Home prices YoY: -23.4%
• Active inventory: 94
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,590 medium
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $1,321

Break-even live

Break-even rent $918

Max offer price $104,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,394	-5% $1,357	+0% $1,321	+5% $1,285	+10% $1,249
Rent	-10% $1,117	-5% $1,219	+0% $1,321	+5% $1,423	+10% $1,526
Rate	-1.0pp $1,374	-0.5pp $1,348	base $1,321	+0.5pp $1,294	+1.0pp $1,266

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,589
Total (3 units)			$2,590

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $104,900 Active 730 DOM
2. 2026-06-18
   days on market $104,900 Active 729 DOM
3. 2026-06-17
   days on market $104,900 Active 728 DOM
4. 2026-06-16
   days on market $104,900 Active 727 DOM
5. 2026-06-15
   days on market $104,900 Active 726 DOM
6. 2026-06-14
   days on market $104,900 Active 724 DOM
7. 2026-06-13
   days on market $104,900 Active 723 DOM
8. 2026-06-10
   days on market $104,900 Active 721 DOM
9. 2026-06-09
   days on market $104,900 Active 720 DOM
10. 2026-06-08
    days on market $104,900 Active 719 DOM
11. 2026-06-07
    days on market $104,900 Active 718 DOM
12. 2026-06-05
    days on market $104,900 Active 715 DOM
13. 2026-06-02
    days on market $104,900 Active 713 DOM
14. 2026-06-01
    days on market $104,900 Active 712 DOM
15. 2026-05-31
    days on market $104,900 Active 711 DOM
16. 2026-05-30
    days on market $104,900 Active 710 DOM
17. 2024-12-27
    price $104,900 508-char remark

    Show marketing remark (508 chars)

    3-unit multifamily home in Cherokee Acres Subdivision, ready for your personal touch! Each unit features a cozy living room, kitchen, 1 bedroom, and 1 full bath. Two gravel driveways offer 6 parking spaces. Enjoy the covered patios of the two main-level apartments. Each unit is currently rented on a month-to-month basis. Conveniently located near restaurants, schools, and doctors' offices, this property offers comfort and convenience in a desirable location. Don't miss this great investment opportunity!

18. 2024-10-08
    price $109,900 508-char remark

    Show marketing remark (508 chars)

    3-unit multifamily home in Cherokee Acres Subdivision, ready for your personal touch! Each unit features a cozy living room, kitchen, 1 bedroom, and 1 full bath. Two gravel driveways offer 6 parking spaces. Enjoy the covered patios of the two main-level apartments. Each unit is currently rented on a month-to-month basis. Conveniently located near restaurants, schools, and doctors' offices, this property offers comfort and convenience in a desirable location. Don't miss this great investment opportunity!

19. 2024-07-30
    price $119,900 508-char remark

    Show marketing remark (508 chars)

    3-unit multifamily home in Cherokee Acres Subdivision, ready for your personal touch! Each unit features a cozy living room, kitchen, 1 bedroom, and 1 full bath. Two gravel driveways offer 6 parking spaces. Enjoy the covered patios of the two main-level apartments. Each unit is currently rented on a month-to-month basis. Conveniently located near restaurants, schools, and doctors' offices, this property offers comfort and convenience in a desirable location. Don't miss this great investment opportunity!

20. 2024-06-19
    listed $129,900 Active 508-char remark

    Show marketing remark (508 chars)

    3-unit multifamily home in Cherokee Acres Subdivision, ready for your personal touch! Each unit features a cozy living room, kitchen, 1 bedroom, and 1 full bath. Two gravel driveways offer 6 parking spaces. Enjoy the covered patios of the two main-level apartments. Each unit is currently rented on a month-to-month basis. Conveniently located near restaurants, schools, and doctors' offices, this property offers comfort and convenience in a desirable location. Don't miss this great investment opportunity!

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

Taxation est. · year 1

• Rental income: $31,080
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$2,486
• − Management: −$2,486
• − Depreciation: −$3,052
• Taxable income: $15,082
• Est. tax owed @ 24.0%: −$3,620
• After-tax cash flow: $12,234/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 · 1 photo

Fair 45/100 Moderate rehab

This 3-unit multifamily home requires significant repairs and updates to improve its condition and value. Immediate attention to the exterior, roof, and interior is recommended.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — Visible signs of damage
• Major flooring — Worn-out carpet
• Major interior walls/paint — Painted walls with visible wear

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value
• Both New siding and roof — Improves structural integrity and aesthetic appeal
• Both New flooring and interior paint — Enhances interior condition and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · Visible signs of damage	Major	$15,000–50,000
flooring · Worn-out carpet	Major	$15,000–50,000
interior walls/paint · Painted walls with visible wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value ↑
• Both New siding and roof — Improves structural integrity and aesthetic appeal ↑
• Both New flooring and interior paint — Enhances interior condition and appeal ↑

ⓘ 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: Lawrence County
• NCES district ID: 0102040
• Math proficiency: 14% ▼ -25.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $40,669
• Composite: 21.9/100
• National rank: #8230
• State rank: #85 of 129 in AL

Livability — Moulton

• Score: 60/100
• State rank: #296
• US rank: #19034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Moulton, AL
• Population (ZIP): 13,485

Population outlook (Lawrence County) Hauer SSP2

• Today (2025): 30,827 people
• By 2030: 29,343 · -4.8%
• By 2040: 26,268 · -14.8%
• By 2050: 23,052 · -25.2%
• By 2075: 17,414 · -43.5%
• By 2100: 13,600 · -55.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Black 4% Native American 3% Hispanic / Latino 3%
• Common ancestry: Slovak 3% Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Lawrence

• 2024 margin: Solid R (+62.3) · D 18.5% · R 80.8%
• 2008→2024 swing: -34.3pp toward R · 2008: -28.0pp · 2024: -62.3pp
• All cycles: 2024: R+62.3 2020: R+54.6 2016: R+48.7 2012: R+27.0 2008: R+28.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.22%
• Current HPI: 200.4657
• 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

-19.2% since first listed

4 events — show timeline

• 2024-12-27 Price Changed $104,900 VMLS
• 2024-10-08 Price Changed $109,900 VMLS
• 2024-07-30 Price Changed $119,900 VMLS
• 2024-06-19 Listed $129,900 VMLS