744 Sykes St NW · Decatur, AL 35601

$99,900

2 bd · 1.5 ba · 1,068 sqft · SingleFamily public records · 18 Days on market

Built 1934 6,969 sqft lot $94/sqft · 19% below area Est $126k · 21% under

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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 +29.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property nestled in an established neighborhood just minutes from fishing and recreation on the Tennessee River, and the River City bridge which makes it an easy commute to the Madison/Huntsville/ Limestone areas. This older home offers endless potential for the right buyer whether you're buying to live in or for an investment. With solid bones and plenty of character, this property is move-in livable while providing the perfect canvas for updates, renovations or a complete transformation. Enjoy the convenience of nearby access to major routes, local amenities and the charm of a mature community.

Key facts

• 6,969 sq ft lot
• Built 1934
• Listed 18 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, crime F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($98k) 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: flood insurance adds $66/mo; built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.21% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.89%
• DSCR: 1.71
• GRM: 6.9

CMA / ARV

• ARV (median comp): $126,450
• List price: $99,900
• Delta: -21.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
749 NW Sykes St	0.03mi	3/1.0 (+1)	1,113 (+4%)	1mo	$120,000	$108	84
523 12th Ave NW	0.72mi	2/1.0	1,064 (-0%)	8mo	$150,100	$141	58
423 7th Ave NW	0.60mi	2/1.5	1,122 (+5%)	14mo	$167,900	$150	52
322 NW 8th Ave	0.74mi	3/2.0 (+1)	1,162 (+9%)	23mo	$73,250	$63	24

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.19×
• Total profit: $5,224
• Equity at exit: $14,895

10-year hold

• IRR: 15.6%
• Equity multiple: 2.37×
• Total profit: $38,204
• Equity at exit: $8,638

Cash invested: $27,972 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 223
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$524
• Tax from tax record: −$18 /mo · $217/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $304

Break-even live

Break-even rent $823

Max offer price $99,900

Occupancy floor 70%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 Alma St NW Decatur, AL	3.0	2.0	1350	$1,325	$0.98	21d	1	0.13mi
719 Bank St NE Unit 3 Decatur, AL	1.0	1.0	720	$1,350	$1.88	23d	1	0.64mi
1050 Harborview Dr NE Decatur, AL	1.0–2.0	1.0–2.0	790	$1,305	$1.65	14d	7	0.65mi
14 Walnut St NE Decatur, AL	3.0	2.5	1430	$1,700	$1.19	44d	1	0.71mi
225 5th Ave NW Decatur, AL	3.0	2.0	1496	$1,300	$0.87	44d	1	0.81mi
220 8th Ave NW Decatur, AL	3.0	1.0	973	$1,125	$1.16	44d	1	0.84mi
213 Wilson St NE Unit 4 Decatur, AL	2.0	1.0	975	$700	$0.72	23d	1	0.89mi
213 Wilson St NE Unit 2 Decatur, AL	2.0	1.0	975	$875	$0.90	23d	1	0.89mi
516 Ferry St NE Decatur, AL	2.0	1.0	900	$1,150	$1.28	23d	1	1.00mi

Listing history 3 events

1. 2026-05-15
   status Pending 603-char remark

   Show marketing remark (603 chars)

   Property nestled in an established neighborhood just minutes from fishing and recreation on the Tennessee River, and the River City bridge which makes it an easy commute to the Madison/Huntsville/ Limestone areas. This older home offers endless potential for the right buyer whether you're buying to live in or for an investment. With solid bones and plenty of character, this property is move-in livable while providing the perfect canvas for updates, renovations or a complete transformation. Enjoy the convenience of nearby access to major routes, local amenities and the charm of a mature community.

2. 2026-04-27
   status Active 603-char remark

   Show marketing remark (603 chars)

   Property nestled in an established neighborhood just minutes from fishing and recreation on the Tennessee River, and the River City bridge which makes it an easy commute to the Madison/Huntsville/ Limestone areas. This older home offers endless potential for the right buyer whether you're buying to live in or for an investment. With solid bones and plenty of character, this property is move-in livable while providing the perfect canvas for updates, renovations or a complete transformation. Enjoy the convenience of nearby access to major routes, local amenities and the charm of a mature community.

3. 2026-03-31
   listed $99,900 603-char remark

   Show marketing remark (603 chars)

   Property nestled in an established neighborhood just minutes from fishing and recreation on the Tennessee River, and the River City bridge which makes it an easy commute to the Madison/Huntsville/ Limestone areas. This older home offers endless potential for the right buyer whether you're buying to live in or for an investment. With solid bones and plenty of character, this property is move-in livable while providing the perfect canvas for updates, renovations or a complete transformation. Enjoy the convenience of nearby access to major routes, local amenities and the charm of a mature community.

ⓘ 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: $217 · $18/mo
• Projected year-2 tax: $410 · $34/mo
• Expected delta: +$192/yr (+$16/mo · 88.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,491
• − Mortgage interest: −$5,596
• − Property taxes: −$217
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$2,906
• Taxable income: $2,156
• Est. tax owed @ 24.0%: −$517
• After-tax cash flow: $3,129/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

3 events — show timeline

• 2026-05-15 Pending — VMLS
• 2026-04-27 Relisted — VMLS
• 2026-03-31 Listed $99,900 VMLS

Property tax history

+3.4%/yr

Latest (2025): $217 · +6.7% YoY. Source: county tax records.