304 W 3rd St · Tuscumbia, AL 35674

$340,000

None bd · None ba · — sqft · MultiFamily · 60 Days on market

Built 1930 Good condition 7,405 sqft 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 +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 5 units. estimate disagrees with records

Listing remarks MLS

Cashing Flowing Investment Alert! This 5-unit building is an excellent investment for any investor who is looking for good cash flow right away. With a total rent roll of $3,975 per month, this property well exceeds the 1% rule. Tenants pay for all utilities. Brand new roof installed in 2025. 1 unit has HVAC, the other 4 have window units. Agent Owned. Unit structure is as follows: 3/1 $895, 2/1 $850, 2/1 $775, 1/1 $760, 1/1 $695

Key facts

• Brand new roof
• 5 unit building
• 7,405 sq ft lot

Tags

• 5 UNIT BUILDING
• BRAND NEW ROOF
• TENANTS PAY UTILITIES

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $340k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $244/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $340k).
• Recommended offer: $330k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.4% in Tuscumbia — 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 65/100 on livability (#122 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Tuscumbia City (suburban): math 18% / reading 41% proficiency, ranked #72 of 129 in AL (top 56%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 220 active listings in the ZIP; 9 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; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).
• At $4,520/mo this rent would consume 84% of the median local household income ($65k/yr) (locally 372% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $95k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($330k) 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $329,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.39%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (median comp): $217,023
• List price: $340,000
• Delta: 56.67%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
303 E 6th St	0.45mi	—/—	—	16mo	$305,000	—	53
101 N High St	0.54mi	—/—	—	14mo	$239,600	—	51
915 N Milton St	0.69mi	—/—	—	11mo	$839,500	—	46

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: 6.1%
• Equity multiple: 1.24×
• Total profit: $22,748
• Equity at exit: $50,695

10-year hold

• IRR: 15.5%
• Equity multiple: 2.26×
• Total profit: $120,234
• Equity at exit: $29,397

Cash invested: $95,200 (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 35674

• Home prices YoY: -28.4%
• Active inventory: 220
• Price-to-rent: 24.3×

Monthly cashflow live

• Estimated rent: $4,520 high
• Mortgage (P&I): −$1,783
• Tax est. 1.5%: −$425 /mo · $5,100/yr
• Insurance: −$142
• HOA: −$0
• Vacancy / Maint / Mgmt: −$949
• Net cashflow: $1,221

Break-even live

Break-even rent $2,974

Max offer price $340,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,456	-5% $1,339	+0% $1,221	+5% $1,104	+10% $986
Rent	-10% $864	-5% $1,043	+0% $1,221	+5% $1,400	+10% $1,578
Rate	-1.0pp $1,392	-0.5pp $1,308	base $1,221	+0.5pp $1,133	+1.0pp $1,043

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,168
▸ 2× units	2	1	$1,930
▸ 2× units	1	1	$1,422
Total (5 units)			$4,520

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: $85,000
• Closing costs: $10,200
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
403 W Almon Ave Tuscumbia, AL	3.0	1.5	—	$1,295	—	44d	1	0.17mi
604 N Stewart St Apt C Tuscumbia, AL	1.0	1.0	—	$600	—	44d	1	0.30mi
600 E 6th St Unit D3 Tuscumbia, AL	2.0	1.0	—	$600	—	44d	1	0.70mi
1014 E 1st St Unit C Tuscumbia, AL	1.0	1.0	—	$675	—	44d	1	1.02mi
108 Watts Bar St Sheffield, AL	2.0	1.5	—	$750	—	44d	1	1.08mi
1209 SW 13 1/2 Ave Sheffield, AL	3.0	1.0	—	$975	—	44d	1	1.09mi
1308 Shop Pike Sheffield, AL	2.0	1.0	—	$900	—	44d	1	1.29mi
107 Harrison Dr Tuscumbia, AL	1.0–2.0	1.0–2.0	985	$1,050	$1.07	44d	5	1.29mi
1130 Paul E Johnson Memorial Dr Tuscumbia, AL	3.0	2.0	1700	$1,450	$0.85	44d	1	1.41mi

Listing history 19 events

1. 2026-06-19
   days on market $340,000 Active 60 DOM
2. 2026-06-18
   days on market $340,000 Active 59 DOM
3. 2026-06-17
   days on market $340,000 Active 58 DOM
4. 2026-06-16
   days on market $340,000 Active 57 DOM
5. 2026-06-15
   days on market $340,000 Active 56 DOM
6. 2026-06-14
   days on market $340,000 Active 54 DOM
7. 2026-06-13
   days on market $340,000 Active 53 DOM
8. 2026-06-10
   days on market $340,000 Active 51 DOM
9. 2026-06-09
   days on market $340,000 Active 50 DOM
10. 2026-06-08
    days on market $340,000 Active 49 DOM
11. 2026-06-07
    days on market $340,000 Active 48 DOM
12. 2026-06-05
    days on market $340,000 Active 45 DOM
13. 2026-06-03
    days on market $340,000 Active 44 DOM
14. 2026-06-02
    days on market $340,000 Active 43 DOM
15. 2026-06-01
    days on market $340,000 Active 42 DOM
16. 2026-05-31
    days on market $340,000 Active 41 DOM
17. 2026-05-30
    days on market $340,000 Active 40 DOM
18. 2026-04-17
    listed $340,000 Active

    Show marketing remark (441 chars)

    Cashing Flowing Investment Alert! This 5-unit building is an excellent investment for any investor who is looking for good cash flow right away. With a total rent roll of $3,975 per month, this property well exceeds the 1% rule. Tenants pay for all utilities. Brand new roof installed in 2025. 1 unit has HVAC, the other 4 have window units. Agent Owned. Unit structure is as follows: 3/1 $895, 2/1 $850, 2/1 $775, 1/1 $760, 1/1 $695

19. 2026-04-17
    listed $340,000 Active 441-char remark

    Show marketing remark (441 chars)

    Cashing Flowing Investment Alert! This 5-unit building is an excellent investment for any investor who is looking for good cash flow right away. With a total rent roll of $3,975 per month, this property well exceeds the 1% rule. Tenants pay for all utilities. Brand new roof installed in 2025. 1 unit has HVAC, the other 4 have window units. Agent Owned. Unit structure is as follows: 3/1 $895, 2/1 $850, 2/1 $775, 1/1 $760, 1/1 $695

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,240
• − Mortgage interest: −$19,045
• − Property taxes: −$5,100
• − Insurance: −$1,700
• − Repairs & maintenance: −$4,339
• − Management: −$4,339
• − Depreciation: −$9,891
• Taxable income: $9,825
• Est. tax owed @ 24.0%: −$2,358
• After-tax cash flow: $12,296/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 · 12 photos

Good 75/100 Cosmetic rehab

This 5-unit property is in good condition with a new roof and well-maintained exterior. It offers good cash flow and potential for value increases through cosmetic updates and improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Upgrading the HVAC systems — Modern HVAC systems improve comfort and energy efficiency.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Kitchen and bathroom updates — Modernizing these spaces can attract more tenants and buyers.
• Rental Landlord insurance — Landlord insurance protects against tenant damage and liability.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Upgrading the HVAC systems — Modern HVAC systems improve comfort and energy efficiency. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Kitchen and bathroom updates — Modernizing these spaces can attract more tenants and buyers. ↑
• Rental Landlord insurance — Landlord insurance protects against tenant damage and liability. ↑

ⓘ 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: Tuscumbia City
• NCES district ID: 0103420
• Math proficiency: 18% ▼ -24.00%
• Reading proficiency: 41% ▼ -7.00%
• Median HH income: $39,168
• Composite: 24.66/100
• National rank: #7619
• State rank: #72 of 129 in AL

Livability — Tuscumbia

• Score: 65/100
• State rank: #122
• US rank: #12659

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscumbia, AL
• County: Colbert County · 20,176 people
• City population: 20,176
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 20,176
• Household income: $64,706
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 372.0

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 11% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.06%
• Current HPI: 171.9693
• Rent YoY: —
• Metro: Florence-Muscle Shoals, 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

+0.0% since first listed

2 events — show timeline

• 2026-04-17 Listed $340,000 SAARMLS
• 2026-04-17 Listed $340,000 SAARMLS