523 Tennessee St · Florence, AL 35630

$119,900

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 7 Days on market

Built 1960 7,405 sqft lot Est $155k · 23% 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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +5.1/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BEDROOM HOME IN DOWNTOWN FLORENCE. PERFECT LOCATION FOR UNA STUDENT. WALK TO FIRST FRIDAYS IN DOWNTOWN FLORENCE. HARDWOODS THROUGHOUT, FENCED BACKYARD AND A ATTACHED CARPORT

Key facts

• Functional layout
• Hardwood floors
• 7,405 sq ft lot

Tags

• HARDWOOD FLOORS
• LARGE COVERED FRONT PORCH
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Single-family residence; Residential property
• Construction: 1,260 above-grade finished area
• Exterior features: Lot approximately 50 x 150 (0.17 acres); Zoned R1

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom
• Interior features: 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.7% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 268 active listings in the ZIP; 7 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; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• This rent runs 32% of the median local income ($46k/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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 12y 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.
• Current owner paid $38k; list at $120k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 8.72%
• Cash-on-cash: 8.66%
• DSCR: 1.39
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $154,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
536 W Tennessee St	0.03mi	3/2.0	1,200 (-5%)	1mo	$199,000	$166	86
528 W Tennessee St	0.04mi	3/2.0	1,200 (-5%)	5mo	$189,900	$158	82
117 Fayette St	0.45mi	3/1.5	1,263 (+0%)	5mo	$62,000	$49	73
501 W Irvine Ave	0.38mi	2/1.0 (-1)	1,221 (-3%)	10mo	$105,000	$86	63
751 W Alabama St	0.41mi	3/1.0	1,182 (-6%)	10mo	$156,000	$132	62
467 Locust St	0.38mi	2/1.0 (-1)	1,221 (-3%)	12mo	$149,900	$123	62
101 White St	0.32mi	3/1.0	1,404 (+11%)	7mo	$125,000	$89	60
931 W Mobile St	0.34mi	2/1.0 (-1)	1,088 (-14%)	4mo	$48,000	$44	54
327 Hillcrest Cir	0.35mi	2/1.0 (-1)	1,360 (+8%)	16mo	$164,000	$121	52
910 College St	0.34mi	2/1.0 (-1)	1,085 (-14%)	14mo	$50,000	$46	44
345 Beverly Ave	0.57mi	3/2.0	1,410 (+12%)	16mo	$192,000	$136	36
217 Beverly Ave	0.48mi	2/2.0 (-1)	1,093 (-13%)	14mo	$146,900	$134	35

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-26
• Equity at exit: $17,877

10-year hold

• IRR: 12.4%
• Equity multiple: 2.11×
• Total profit: $37,245
• Equity at exit: $10,367

Cash invested: $33,572 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 268
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$629
• Tax from tax record: −$40 /mo · $476/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $242

Break-even live

Break-even rent $909

Max offer price $119,900

Occupancy floor 75%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 N Court St Unit 1 Florence, AL	2.0	1.5	1000	$850	$0.85	43d	1	0.38mi
418 N Poplar St Florence, AL	2.0	2.0	1000	$995	$0.99	43d	1	0.77mi
520 E Tuscaloosa St Unit 520-C Florence, AL	2.0	1.0	900	$995	$1.11	43d	1	0.78mi
602 E Tuscaloosa St Unit 602 Florence, AL	4.0	2.0	1750	$1,600	$0.91	43d	1	0.83mi
939 N Royal Ave Florence, AL	2.0	1.0	900	$850	$0.94	43d	1	1.11mi
530 N Royal Ave Florence, AL	2.0	1.0	1200	$1,100	$0.92	44d	1	1.17mi
1034 N Royal Ave Unit 2 Florence, AL	2.0	1.0	900	$850	$0.94	43d	1	1.22mi

Listing history 7 events

1. 2026-06-19
   days on market $119,900 Active 7 DOM
2. 2026-06-18
   days on market $119,900 Active 6 DOM
3. 2026-06-17
   days on market $119,900 Active 5 DOM
4. 2026-06-16
   days on market $119,900 Active 4 DOM
5. 2026-06-15
   days on market $119,900 Active 3 DOM
6. 2026-06-13
   remarks 307-char remark
7. 2026-06-13
   listed $119,900 Active 1 DOM

ⓘ 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: $476 · $40/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$15/yr (+$1/mo · 3.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,594
• − Mortgage interest: −$6,716
• − Property taxes: −$476
• − Insurance: −$600
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$3,488
• Taxable income: $979
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $2,674/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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• 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

+140.3% since first listed

4 events — show timeline

• 2026-06-12 Listed $119,900 SAARMLS
• 2015-04-28 Sold (MLS) $38,000 SAARMLS
• 2014-12-23 Listed $44,900 SAARMLS
• 2014-05-09 Listed $49,900 SAARMLS

Property tax history

+2.4%/yr

Latest (2025): $476 · -19.3% YoY. Source: county tax records.