1506 9th St W · Red Bay, AL 35582

$89,000

2 bd · 1.0 ba · 1,242 sqft · SingleFamily · 8 Days on market

Built 1963 Fair condition 1.50 ac lot

---

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 +25.0/30.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Appreciation +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0

Listing remarks

Unlock the potential of this classic 2-bedroom, 1-bath ranch sitting on approximately 1.5 acres inside Red Bay city limits. Whether you're an investor seeking a solid rental opportunity or a first-time buyer looking for an affordable place to call home, this property checks the right boxes. With convenient access to Hwy 24, commuting and connectivity are effortless. The manageable layout offers low-maintenance living, while the expansive lot provides room for value-add improvements, outdoor living, or future expansion. A dedicated garden spot invites sustainable living, and the wooded area behind the home creates a private, peaceful setting. For first-time buyers, its an opportunity to buil

Key facts

• Expansive lot
• Wooded area
• 1.5 acre lot

Tags

• EXPANSIVE LOT
• DEDICATED GARDEN SPOT
• WOODED AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).

Location & tenants

• Location reads 63/100 on livability (#194 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime B; Watch: amenities F, commute F, employment F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Red Bay Elementary (math 22% / reading 45%, grade F, #318 of 627 statewide, top 51%, 421 students, 51% FRL); Red Bay High School (math 12% / reading 37%, grade F, #118 of 305 statewide, top 45%, 351 students, 51% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 24 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $607 of equity ($615 loan paydown + $-8 appreciation (-0.0% local appreciation)).
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $89,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.15% ✓
• Cap rate: 8.90%
• Cash-on-cash: 9.31%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.1%
• Equity multiple: 1.39×
• Total profit: $9,685
• Equity at exit: $25,804

10-year hold

• IRR: 13.2%
• Equity multiple: 2.44×
• Total profit: $35,981
• Equity at exit: $30,987

Cash invested: $24,920 (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 35582

• Home prices YoY: -0.0%
• Active inventory: 24
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,023 medium
• Mortgage (P&I): −$467
• Tax est. 1.5%: −$111 /mo · $1,335/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $193

Break-even live

Break-even rent $779

Max offer price $89,000

Occupancy floor 76%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-26
   status Pending
2. 2026-04-17
   listed $89,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,278
• − Mortgage interest: −$4,985
• − Property taxes: −$1,335
• − Insurance: −$445
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$2,589
• Taxable income: $959
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $2,089/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This home requires significant repairs and maintenance, including roof replacement, exterior painting, and flooring replacement. It has moderate potential for value increase with these updates.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Minor exterior walls — The siding appears to be in fair condition, but there is some peeling paint.
• Major flooring — The flooring in the interior appears to be in poor condition, with visible wear and tear.
• Minor interior walls — The paint appears to be peeling in some areas.
• Minor landscaping — The landscaping is fair, with some overgrown areas and a lack of maintenance.
• Minor HVAC — The HVAC system appears to be in fair condition, but there is no visible evidence of recent maintenance or updates.
• Minor windows — The windows appear to be in fair condition, but there is no visible evidence of recent maintenance or updates.

Value-add opportunities

• Resale roof replacement — Replacing the roof would significantly improve the home's appearance and increase its value.
• Resale exterior painting — Painting the exterior walls and windows would improve the home's curb appeal and increase its value.
• Resale flooring replacement — Replacing the flooring would improve the home's appearance and increase its value.
• Rental HVAC maintenance — Maintaining the HVAC system would ensure a comfortable living environment and attract tenants.
• Both landscaping — Landscaping would improve the home's curb appeal and attract both buyers and tenants.
• Resale interior painting — Painting the interior walls would improve the home's appearance and increase its value.
• Resale window treatments — Adding window treatments would improve the home's curb appeal and increase its value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior walls · The siding appears to be in fair condition, but there is some peeling paint.	Minor	$500–3,000
flooring · The flooring in the interior appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls · The paint appears to be peeling in some areas.	Minor	$500–3,000
landscaping · The landscaping is fair, with some overgrown areas and a lack of maintenance.	Minor	$500–3,000
HVAC · The HVAC system appears to be in fair condition, but there is no visible evidence of recent maintenance or updates.	Minor	$500–3,000
windows · The windows appear to be in fair condition, but there is no visible evidence of recent maintenance or updates.	Minor	$500–3,000
Total estimated repair cost · 7 items		$32,500–115,000

Value-add ROI direction

• Resale roof replacement — Replacing the roof would significantly improve the home's appearance and increase its value. ↑
• Resale exterior painting — Painting the exterior walls and windows would improve the home's curb appeal and increase its value. ↑
• Resale flooring replacement — Replacing the flooring would improve the home's appearance and increase its value. ↑
• Rental HVAC maintenance — Maintaining the HVAC system would ensure a comfortable living environment and attract tenants. ↑
• Both landscaping — Landscaping would improve the home's curb appeal and attract both buyers and tenants. ↑
• Resale interior painting — Painting the interior walls would improve the home's appearance and increase its value. ↑
• Resale window treatments — Adding window treatments would improve the home's curb appeal and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin County
• NCES district ID: 0101590
• Math proficiency: 17% ▼ -21.00%
• Reading proficiency: 36% ▼ -1.00%
• Median HH income: $37,979
• Composite: 22.08/100
• National rank: #8187
• State rank: #84 of 129 in AL

Livability — Red Bay

• Score: 63/100
• State rank: #194
• US rank: #15693

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Red Bay, AL
• Population (ZIP): 4,507

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 31,545 people
• By 2030: 31,335 · -0.7%
• By 2040: 30,983 · -1.8%
• By 2050: 30,744 · -2.5%
• By 2075: 30,173 · -4.3%
• By 2100: 29,478 · -6.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 7% Two or more races 2%
• Common ancestry: Slovak 4% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+73.3) · D 13.0% · R 86.2%
• 2008→2024 swing: -34.1pp toward R · 2008: -39.2pp · 2024: -73.3pp
• All cycles: 2024: R+73.3 2020: R+65.9 2016: R+60.8 2012: R+40.5 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.01%
• Current HPI: 172.2008
• 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

2 events — show timeline

• 2026-04-26 Pending — SAARMLS
• 2026-04-17 Listed $89,000 SAARMLS