1319 Fall City Rd · Jasper, AL 35503

$199,900

12 bd · 9.0 ba · 1,920 sqft · MultiFamily public records · 324 Days on market

Built 1997

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

Key facts

• Remodeled
• 3 unit complex
• 3.7 acres

Tags

• 3 UNIT COMPLEX
• 3.7 ACRES
• 5 ADDITIONAL UNITS
• REMODELED

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/3.0-bath units multifamily listed at $200k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $949/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.4% vs local median 3.8% in Jasper — 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 62/100 on livability (#228 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Walker County (rural): math 13% / reading 39% proficiency, ranked #89 of 129 in AL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Curry Elementary School (math 12% / reading 57%, grade F, #296 of 627 statewide, top 49%, 547 students, 64% FRL); Curry Middle School (math 10% / reading 46%, grade F, #141 of 257 statewide, top 55%, 359 students, 68% FRL); Curry High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 368 students, 58% FRL).
• Market conditions: 111 active listings in the ZIP; 36 units permitted in Walker 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 $6k of value loss. Plan a longer hold.
• Walker County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $200k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 324 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 2.55% ✓
• Cap rate: 23.38%
• Cash-on-cash: 61.01%
• DSCR: 3.71
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 59.8%
• Equity multiple: 3.66×
• Total profit: $148,801
• Equity at exit: $29,806

10-year hold

• IRR: 64.5%
• Equity multiple: 7.48×
• Total profit: $362,764
• Equity at exit: $17,284

Cash invested: $55,972 (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 35503

• Home prices YoY: -26.8%
• Active inventory: 111
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $5,100 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $2,846

Break-even live

Break-even rent $1,498

Max offer price $199,900

Occupancy floor 39%

Sensitivity live

Price	-10% $2,959	-5% $2,902	+0% $2,846	+5% $2,789	+10% $2,732
Rent	-10% $2,443	-5% $2,644	+0% $2,846	+5% $3,047	+10% $3,249
Rate	-1.0pp $2,946	-0.5pp $2,896	base $2,846	+0.5pp $2,794	+1.0pp $2,741

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	3	$5,100
Total (3 units)			$5,100

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-22
   days on market $199,900 Active 324 DOM
2. 2026-06-18
   days on market $199,900 Active 321 DOM
3. 2026-06-17
   days on market $199,900 Active 320 DOM
4. 2026-06-16
   days on market $199,900 Active 319 DOM
5. 2026-06-15
   days on market $199,900 Active 318 DOM
6. 2026-06-13
   days on market $199,900 Active 316 DOM
7. 2026-06-13
   days on market $199,900 Active 315 DOM
8. 2026-06-10
   days on market $199,900 Active 313 DOM
9. 2026-06-09
   days on market $199,900 Active 312 DOM
10. 2026-06-08
    days on market $199,900 Active 311 DOM
11. 2026-06-07
    days on market $199,900 Active 310 DOM
12. 2026-06-05
    days on market $199,900 Active 307 DOM
13. 2026-06-03
    days on market $199,900 Active 306 DOM
14. 2026-06-03
    days on market $199,900 Active 305 DOM
15. 2026-06-01
    days on market $199,900 Active 304 DOM
16. 2026-05-31
    days on market $199,900 Active 303 DOM
17. 2026-05-12
    price $199,900 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

18. 2026-04-11
    status Active 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

19. 2026-03-16
    historical Contingent 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

20. 2026-02-14
    price $209,900 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

21. 2026-02-02
    status Active 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

22. 2025-10-17
    historical Active Under Contract

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

23. 2025-10-17
    historical Active Under Contract

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

24. 2025-10-17
    historical Contingent 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

25. 2025-08-01
    price $219,900

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

26. 2025-08-01
    price $219,900

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

27. 2025-08-01
    listed $219,900 Active 328-char remark

    Show marketing remark (328 chars)

    Your future investment! Don't let this opportunity pass you by. This 3 unit complex could generate $2700+ gross income a month. Complex is on 3.7 acres and has been perked for 5 additional units for future expansion. All Units have been remodeled. Manchester Community and not far from Smith Lake or downtown Jasper! Let's talk!

28. 2025-07-08
    price $235,000
29. 2025-07-08
    price $235,000
30. 2025-06-25
    listed $225,000 Active
31. 2025-06-25
    status Active
32. 2025-05-13
    status Pending
33. 2025-05-03
    status Active
34. 2025-04-04
    status Pending
35. 2025-02-25
    listed $225,000 Active
36. 2022-08-28
    price $309,900
37. 2022-07-16
    price $334,900
38. 2022-05-03
    listed $359,900 Active
39. 2018-10-16
    soldstatus $60,000

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$198/yr (+$16/mo · 31.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $61,200
• − Mortgage interest: −$11,198
• − Property taxes: −$622
• − Insurance: −$1,000
• − Repairs & maintenance: −$4,896
• − Management: −$4,896
• − Depreciation: −$5,815
• Taxable income: $32,774
• Est. tax owed @ 24.0%: −$7,866
• After-tax cash flow: $26,281/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: Walker County
• NCES district ID: 0103450
• Math proficiency: 13% ▼ -28.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $36,664
• Composite: 21.51/100
• National rank: #8321
• State rank: #89 of 129 in AL

Livability — Jasper

• Score: 62/100
• State rank: #228
• US rank: #17152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,927
• Population (ZIP): 9,601

Population outlook (Walker County) Hauer SSP2

• Today (2025): 61,037 people
• By 2030: 58,391 · -4.3%
• By 2040: 53,080 · -13.0%
• By 2050: 48,031 · -21.3%
• By 2075: 37,799 · -38.1%
• By 2100: 29,001 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 2% Black 1% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Iranian 1% Scotch-Irish 1%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+71.8) · D 13.8% · R 85.6%
• 2008→2024 swing: -25.4pp toward R · 2008: -46.4pp · 2024: -71.8pp
• All cycles: 2024: R+71.8 2020: R+67.9 2016: R+67.4 2012: R+52.9 2008: R+46.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.26%
• Current HPI: 172.9286
• 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

+233.2% since first listed

23 events — show timeline

• 2026-05-12 Price Changed $199,900 Greater Alabama MLS
• 2026-04-11 Relisted — Greater Alabama MLS
• 2026-03-16 Contingent — Greater Alabama MLS
• 2026-02-14 Price Changed $209,900 Greater Alabama MLS
• 2026-02-02 Relisted — Greater Alabama MLS
• 2025-10-17 Contingent — SAARMLS
• 2025-10-17 Contingent — Walker County Area MLS
• 2025-10-17 Contingent — Greater Alabama MLS
• 2025-08-01 Price Changed $219,900 SAARMLS
• 2025-08-01 Price Changed $219,900 Walker County Area MLS
• 2025-08-01 Listed $219,900 Greater Alabama MLS
• 2025-07-08 Price Changed $235,000 Walker County Area MLS
• 2025-07-08 Price Changed $235,000 SAARMLS
• 2025-06-25 Listed $225,000 Walker County Area MLS
• 2025-06-25 Relisted — SAARMLS
• 2025-05-13 Pending — SAARMLS
• 2025-05-03 Relisted — SAARMLS
• 2025-04-04 Pending — SAARMLS
• 2025-02-25 Listed $225,000 SAARMLS
• 2022-08-28 Price Changed $309,900 SAARMLS
• 2022-07-16 Price Changed $334,900 SAARMLS
• 2022-05-03 Listed $359,900 SAARMLS
• 2018-10-16 Sold (Public Records) $60,000 Public Records

Property tax history

+5.0%/yr

Latest (2024): $622 · +0.0% YoY. Source: county tax records.