256 Co Rd 940 · West Point, AL 35057

$149,000

4 bd · 1.0 ba · 2,185 sqft · SingleFamily public records · 198 Days on market

Built 1965 2.20 ac lot $68/sqft · 50% below area ↓ 25% since listing

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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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.1/10.0
• Livability +3.4/5.0
• 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

Fixer-Upper with Endless Potential on 2.2 Acres! Discover the possibilities with this unique property featuring a home ready for your personal touch, plus two additional lots on a sprawling 2.2-acre parcel. Recent upgrades include updated windows and the home has a brick exterior and metal roof, ensuring a solid starting point for renovations. The property also includes multiple sheds and storage buildings, ideal for tools, equipment, or workshop space. Whether you’re looking to create your dream home, invest, or expand, this property offers unmatched potential. Don’t miss this opportunity!

Key facts

• Multiple sheds
• Metal roof
• Brick exterior

Tags

• 2.2 ACRES
• UPDATED WINDOWS
• BRICK EXTERIOR
• METAL ROOF
• MULTIPLE SHEDS
• STORAGE BUILDINGS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.1% in West Point — 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 67/100 on livability (#85 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: crime C-, amenities F, commute F.
• Cullman County (rural): math 19% / reading 49% proficiency, ranked #49 of 129 in AL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 127 active listings in the ZIP; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago 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

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 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 1965 — 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 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 8.3

CMA / ARV

• ARV (median comp): $298,634
• List price: $149,000
• Delta: -50.11%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,887
• Equity at exit: $22,216

10-year hold

• IRR: 4.6%
• Equity multiple: 1.33×
• Total profit: $13,958
• Equity at exit: $12,883

Cash invested: $41,720 (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 35057

• Home prices YoY: -14.1%
• Active inventory: 127
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$86 /mo · $1,032/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $256

Break-even live

Break-even rent $1,177

Max offer price $149,000

Occupancy floor 78%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $149,000 Active 198 DOM
2. 2026-06-18
   days on market $149,000 Active 197 DOM
3. 2026-06-17
   days on market $149,000 Active 196 DOM
4. 2026-06-16
   days on market $149,000 Active 195 DOM
5. 2026-06-15
   days on market $149,000 Active 194 DOM
6. 2026-06-14
   days on market $149,000 Active 192 DOM
7. 2026-06-12
   days on market $149,000 Active 191 DOM
8. 2026-06-09
   days on market $149,000 Active 188 DOM
9. 2026-06-08
   days on market $149,000 Active 187 DOM
10. 2026-06-07
    days on market $149,000 Active 186 DOM
11. 2026-06-05
    days on market $149,000 Active 183 DOM
12. 2026-06-03
    days on market $149,000 Active 182 DOM
13. 2026-06-02
    days on market $149,000 Active 181 DOM
14. 2026-06-01
    days on market $149,000 Active 180 DOM
15. 2026-05-31
    days on market $149,000 Active 179 DOM
16. 2026-05-30
    days on market $149,000 Active 178 DOM
17. 2025-12-03
    listed $149,000 Active 610-char remark

    Show marketing remark (610 chars)

    Fixer-Upper with Endless Potential on 2.2 Acres! Discover the possibilities with this unique property featuring a home ready for your personal touch, plus two additional lots on a sprawling 2.2-acre parcel. Recent upgrades include updated windows and the home has a brick exterior and metal roof, ensuring a solid starting point for renovations. The property also includes multiple sheds and storage buildings, ideal for tools, equipment, or workshop space. Whether you’re looking to create your dream home, invest, or expand, this property offers unmatched potential. Don’t miss this opportunity!

18. 2025-03-10
    price $189,000
19. 2024-11-18
    listed $199,000 Active

ⓘ 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: $1,032 · $86/mo
• Projected year-2 tax: $1,032 · $86/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 5/10 Major
• 🌡 Heat 4/10 Moderate 7 d/yr ≥105°F today · 19 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,005
• − Mortgage interest: −$8,346
• − Property taxes: −$1,032
• − Insurance: −$745
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$4,335
• Taxable income: $666
• Est. tax owed @ 24.0%: −$160
• After-tax cash flow: $2,911/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: Cullman County
• NCES district ID: 0101020
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $39,449
• Composite: 28.39/100
• National rank: #6767
• State rank: #49 of 129 in AL

Livability — West Point

• Score: 67/100
• State rank: #85
• US rank: #10956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 15,514

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.36%
• Current HPI: 264.0336
• 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

-25.1% since first listed

3 events — show timeline

• 2025-12-03 Listed $149,000 SAARMLS
• 2025-03-10 Price Changed $189,000 SAARMLS
• 2024-11-18 Listed $199,000 SAARMLS