3969 Alabama Hwy 69 · Berlin, AL 35058

$190,000

3 bd · 1.0 ba · 1,586 sqft · SingleFamily public records · 75 Days on market

Built 1975 1.80 ac lot $120/sqft · 21% below area Est $241k · 21% 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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +3.7/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

Key facts

• Country living
• New chain link fence
• Workshop in the back

Tags

• NEW CHAIN LINK FENCE
• WORKSHOP IN THE BACK
• COUNTRY LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $157 ($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 $165k (13.4% below list).
• Recommended offer: $165k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 4.6% in Berlin — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 137 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $164,625 (13.4% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. 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: 0.87% ✗
• Cap rate: 7.28%
• Cash-on-cash: 3.53%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (median comp): $241,430
• List price: $190,000
• Delta: -21.30%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1282 County Road 1506	0.59mi	3/1.0	1,540 (-3%)	9mo	$235,000	$153	60
178 County Road 1670	0.56mi	4/2.0 (+1)	1,568 (-1%)	20mo	$163,000	$104	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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-20,887
• Equity at exit: $28,330

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-5,659
• Equity at exit: $16,428

Cash invested: $53,200 (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 35058

• Home prices YoY: -17.5%
• Active inventory: 137
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,646 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$68 /mo · $820/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $157

Break-even live

Break-even rent $1,448

Max offer price $190,000

Occupancy floor 85%

Sensitivity live

Price	-10% $264	-5% $210	+0% $157	+5% $103	+10% $49
Rent	-10% $27	-5% $92	+0% $157	+5% $222	+10% $287
Rate	-1.0pp $252	-0.5pp $205	base $157	+0.5pp $107	+1.0pp $57

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
151 County Road 1606 Unit 1606 Cullman, AL	3.0	2.0	1680	$1,500	$0.89	44d	1	1.16mi

Listing history 32 events

1. 2026-06-21
   days on market $190,000 Active 75 DOM
2. 2026-06-19
   days on market $190,000 Active 73 DOM
3. 2026-06-18
   days on market $190,000 Active 72 DOM
4. 2026-06-17
   days on market $190,000 Active 71 DOM
5. 2026-06-16
   days on market $190,000 Active 70 DOM
6. 2026-06-15
   days on market $190,000 Active 69 DOM
7. 2026-06-14
   days on market $190,000 Active 67 DOM
8. 2026-06-12
   days on market $190,000 Active 66 DOM
9. 2026-06-09
   days on market $190,000 Active 63 DOM
10. 2026-06-08
    days on market $190,000 Active 62 DOM
11. 2026-06-07
    days on market $190,000 Active 61 DOM
12. 2026-06-05
    days on market $190,000 Active 58 DOM
13. 2026-06-03
    days on market $190,000 Active 57 DOM
14. 2026-06-02
    days on market $190,000 Active 56 DOM
15. 2026-06-01
    days on market $190,000 Active 55 DOM
16. 2026-05-31
    days on market $190,000 Active 54 DOM
17. 2026-05-30
    days on market $190,000 Active 53 DOM
18. 2026-05-06
    price $190,000 382-char remark

    Show marketing remark (382 chars)

    INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

19. 2026-04-18
    price $195,000 382-char remark

    Show marketing remark (382 chars)

    INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

20. 2026-04-16
    status Active 382-char remark

    Show marketing remark (382 chars)

    INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

21. 2026-04-10
    status Pending 382-char remark

    Show marketing remark (382 chars)

    INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

22. 2026-04-01
    listed $204,000 Active 382-char remark

    Show marketing remark (382 chars)

    INVESTORS OR DIYers!! Whether it’s your first home or an investment property, this charming, conveniently located, 3 bed/2 bath cottage sits on 1.8 acres, offering plenty of space to relax and enjoy country living. Move-in ready or perfect to add your personal touch, this property also features a new chain link fence and a workshop in the back. Schedule your showing today!

23. 2022-11-30
    soldstatus $179,000 Closed 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

24. 2022-11-18
    status Pending 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

25. 2022-10-18
    historical Active Under Contract 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

26. 2022-10-08
    status Active 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

27. 2022-09-15
    historical Active Under Contract 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

28. 2022-09-08
    status Active 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

29. 2022-09-08
    price $179,000 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

30. 2022-08-01
    status Active 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

31. 2022-08-01
    price $189,000 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

32. 2022-03-07
    listed $159,000 267-char remark

    Show marketing remark (267 chars)

    Back on the market!!! Enjoy the convenience to town with this 3 bed 2 bath home but have a country cottage feel. You will have enough room to spread out in this home. Whether this is your first home or investment property, it's move in ready. Book your showing today!

ⓘ 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: $820 · $68/mo
• Projected year-2 tax: $820 · $68/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 ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $19,755
• − Mortgage interest: −$10,643
• − Property taxes: −$820
• − Insurance: −$950
• − Repairs & maintenance: −$1,580
• − Management: −$1,580
• − Depreciation: −$5,527
• Taxable loss: −$1,346
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $2,203/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 — Berlin

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Cullman County · 47,767 people
• Metro: Cullman, AL
• Population (ZIP): 11,545
• Household income: $62,146
• Rent vs Own: 25.6% rent · 74.4% own
• Severe rent burden: 87.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 4% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 4% Serbian 1% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 1% Vietnamese 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: ▼ -53.88%
• Current HPI: 254.3583
• Rent YoY: —
• Metro: Cullman, 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

+19.5% since first listed

15 events — show timeline

• 2026-05-06 Price Changed $190,000 SAARMLS
• 2026-04-18 Price Changed $195,000 SAARMLS
• 2026-04-16 Relisted — SAARMLS
• 2026-04-10 Pending — SAARMLS
• 2026-04-01 Listed $204,000 SAARMLS
• 2022-11-30 Sold (MLS) $179,000 SAARMLS
• 2022-11-18 Pending — SAARMLS
• 2022-10-18 Contingent — SAARMLS
• 2022-10-08 Relisted — SAARMLS
• 2022-09-15 Contingent — SAARMLS
• 2022-09-08 Relisted — SAARMLS
• 2022-09-08 Price Changed $179,000 SAARMLS
• 2022-08-01 Relisted — SAARMLS
• 2022-08-01 Price Changed $189,000 SAARMLS
• 2022-03-07 Listed $159,000 SAARMLS

Property tax history

+17.5%/yr

Latest (2025): $820 · +7.0% YoY. Source: county tax records.