16 Little St · Gadsden, AL 35904

$44,900

2 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 6 Days on market

Built 1955 9,147 sqft lot Est $59k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is. Cash preferred but will consider financed all offers.

Key facts

• 9,147 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $319 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($750 rent vs $45k).
• Cap rate 14.8% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Floyd Elementary School (math 17% / reading 27%, grade F, #442 of 627 statewide, top 72%, 367 students, 85% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL).
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Etowah County population projected at -12% 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask is 3354% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $44,900

Questions for the listing agent

1. Built in 1955 — 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: 1.67% ✓
• Cap rate: 14.82%
• Cash-on-cash: 30.46%
• DSCR: 2.36
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $59,040
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Lakefront Ave	0.41mi	3/1.0 (+1)	1,290 (-2%)	2mo	$134,000	$104	71
2613 Highland Ave	0.27mi	2/2.0	1,408 (+7%)	7mo	$53,250	$38	66
32 E Wilkinson Ave	0.14mi	2/1.0	1,170 (-11%)	17mo	$53,000	$45	61
1 Primrose Rd	0.33mi	3/1.0 (+1)	1,288 (-2%)	21mo	$54,500	$42	59
14 Winona	0.29mi	3/2.0 (+1)	1,500 (+14%)	1mo	$20,000	$13	53
2220 Tuscaloosa Ave E	0.49mi	3/1.0 (+1)	1,400 (+7%)	20mo	$40,000	$29	44
1 Peachtree St	0.32mi	3/1.0 (+1)	1,150 (-12%)	22mo	$130,475	$113	41
20 Dwight Ave	0.37mi	3/1.0 (+1)	1,500 (+14%)	20mo	$80,000	$53	37

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: 25.1%
• Equity multiple: 2.04×
• Total profit: $13,039
• Equity at exit: $6,695

10-year hold

• IRR: 32.9%
• Equity multiple: 3.98×
• Total profit: $37,481
• Equity at exit: $3,882

Cash invested: $12,572 (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 35904

• Home prices YoY: -17.1%
• Active inventory: 84
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $750 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$19 /mo · $230/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $319

Break-even live

Break-even rent $346

Max offer price $44,900

Occupancy floor 52%

Sensitivity live

Price	-10% $345	-5% $332	+0% $319	+5% $306	+10% $294
Rent	-10% $260	-5% $290	+0% $319	+5% $349	+10% $378
Rate	-1.0pp $342	-0.5pp $331	base $319	+0.5pp $308	+1.0pp $296

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 W Tuscaloosa Ave Gadsden, AL	2.0	1.0	1056	$750	$0.71	44d	1	0.10mi
504 Pearl St Gadsden, AL	2.0	1.0	903	$750	$0.83	44d	1	1.44mi

Listing history 8 events

1. 2026-04-20
   historical $950
2. 2026-04-09
   price $950
3. 2026-03-23
   price $1,050
4. 2026-02-13
   price $1,150
5. 2026-02-13
   listed $1,300
6. 2026-01-23
   listed $129,900 Active
7. 2025-10-23
   status Pending
8. 2025-10-17
   listed $44,900 Active

ⓘ 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: $230 · $19/mo
• Projected year-2 tax: $230 · $19/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,000
• − Mortgage interest: −$2,515
• − Property taxes: −$230
• − Insurance: −$224
• − Repairs & maintenance: −$720
• − Management: −$720
• − Depreciation: −$1,306
• Taxable income: $3,284
• Est. tax owed @ 24.0%: −$788
• After-tax cash flow: $3,042/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 13,571

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.06%
• Current HPI: 213.3981
• 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

-97.7% since first listed

8 events — show timeline

• 2026-04-20 Rental Removed $950 BUILDIUM
• 2026-04-09 Price Changed $950 BUILDIUM
• 2026-03-23 Price Changed $1,050 BUILDIUM
• 2026-02-13 Price Changed $1,150 BUILDIUM
• 2026-02-13 Listed for Rent $1,300 BUILDIUM
• 2026-01-23 Listed $129,900 VMLS
• 2025-10-23 Pending — Greater Alabama MLS
• 2025-10-17 Listed $44,900 Greater Alabama MLS

Property tax history

+3.5%/yr

Latest (2025): $230 · +10.8% YoY. Source: county tax records.