77 Carter St · Rainsville, AL 35986

$155,900

3 bd · 3.0 ba · 2,220 sqft · SingleFamily public records · 111 Days on market

Built 1930 1.00 ac lot $70/sqft · 43% below area Est $276k · 44% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.0/30.0
• Appreciation +10.0/10.0
• DSCR +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Schools +2.3/10.0

Listing remarks MLS

UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

Key facts

• One acre lot
• Huge great room
• Updated kitchen

Tags

• UPDATED KITCHEN
• HUGE GREAT ROOM
• ONE ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $-38 ($-460/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (26.9% below list).
• Recommended offer: $114k (26.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.4% in Rainsville — 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 66/100 on livability (#105 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Dekalb County (rural): math 18% / reading 37% proficiency, ranked #82 of 129 in AL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 71 active listings in the ZIP; 49 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• DeKalb County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $74k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,983 (26.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.73% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 11.4

CMA / ARV

• ARV (median comp): $275,980
• List price: $155,900
• Delta: -43.51%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1778 Marshall Rd	0.08mi	3/2.0	1,991 (-10%)	6mo	$300,000	$151	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 2.89×
• Total profit: $82,397
• Equity at exit: $140,447

10-year hold

• IRR: 20.9%
• Equity multiple: 6.60×
• Total profit: $244,430
• Equity at exit: $302,879

Cash invested: $43,652 (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 35986

• Home prices YoY: 8.0%
• Active inventory: 71
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$818
• Tax from tax record: −$56 /mo · $676/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-38

Break-even live

Break-even rent $1,188

Max offer price $149,125

Occupancy floor 98%

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: $38,975
• Closing costs: $4,677
• Reserves months: —
• Total cash needed: —

Listing history 49 events

1. 2026-06-19
   days on market $155,900 Active 111 DOM
2. 2026-06-18
   days on market $155,900 Active 110 DOM
3. 2026-06-17
   days on market $155,900 Active 109 DOM
4. 2026-06-16
   days on market $155,900 Active 108 DOM
5. 2026-06-15
   days on market $155,900 Active 107 DOM
6. 2026-06-14
   days on market $155,900 Active 105 DOM
7. 2026-06-12
   days on market $155,900 Active 104 DOM
8. 2026-06-09
   pricedays on market $155,900 Active 101 DOM
9. 2026-06-08
   days on market $164,000 Active 100 DOM
10. 2026-06-07
    days on market $164,000 Active 99 DOM
11. 2026-06-07
    days on market $164,000 Active 98 DOM
12. 2026-06-04
    days on market $164,000 Active 95 DOM
13. 2026-06-02
    days on market $164,000 Active 94 DOM
14. 2026-06-01
    days on market $164,000 Active 93 DOM
15. 2026-05-31
    days on market $164,000 Active 92 DOM
16. 2026-05-31
    days on market $164,000 Active 91 DOM
17. 2026-05-06
    price $169,900 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

18. 2026-04-24
    status Active 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

19. 2026-04-16
    status Pending 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

20. 2026-04-08
    price $189,900 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

21. 2026-03-18
    price $210,900 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

22. 2026-02-25
    price $220,000 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

23. 2026-02-20
    listed $230,000 Active 225-char remark

    Show marketing remark (225 chars)

    UPDATED 1930's FARM HOUSE located in nice area of Rainsville Offering an updated kitchen, huge great room, three bedrooms and three full baths on a one acre lot. Online auction start date 5/16/2026, event end date 5/20/2026.

24. 2026-01-08
    price $226,000
25. 2025-12-12
    price $229,900
26. 2025-11-19
    price $230,900
27. 2025-11-05
    price $235,900
28. 2025-10-09
    price $239,900
29. 2025-09-22
    price $240,800
30. 2025-09-10
    price $248,800
31. 2025-08-18
    price $249,900
32. 2025-08-14
    price $255,900
33. 2025-08-04
    price $258,000
34. 2025-07-21
    price $259,900
35. 2025-06-04
    price $264,500
36. 2025-05-02
    price $264,900
37. 2025-03-12
    price $269,900
38. 2025-01-21
    price $272,500
39. 2024-12-27
    price $274,500
40. 2024-11-22
    listed $278,000 Active
41. 2023-11-08
    price $272,300
42. 2023-10-17
    price $274,500
43. 2023-09-22
    listed $279,900 Active
44. 2023-02-17
    soldstatus $195,000 Sold
45. 2023-01-13
    status Pending
46. 2022-12-29
    price $215,000
47. 2022-12-12
    listed $225,000 Active
48. 2010-11-15
    soldstatus $14,900
49. 2008-03-07
    listed $143,000

ⓘ 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: $676 · $56/mo
• Projected year-2 tax: $676 · $56/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 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥103°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,678
• − Mortgage interest: −$8,733
• − Property taxes: −$676
• − Insurance: −$780
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$4,535
• Taxable loss: −$3,234
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $316/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: Dekalb County
• NCES district ID: 0101140
• Math proficiency: 18% ▼ -19.00%
• Reading proficiency: 37% ▲ 2.00%
• Median HH income: $36,655
• Composite: 22.78/100
• National rank: #8023
• State rank: #82 of 129 in AL

Livability — Rainsville

• Score: 66/100
• State rank: #105
• US rank: #11704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rainsville, AL
• City population: 8,221
• Population (ZIP): 8,221

Population outlook (DeKalb County) Hauer SSP2

• Today (2025): 71,722 people
• By 2030: 71,373 · -0.5%
• By 2040: 69,536 · -3.0%
• By 2050: 66,020 · -8.0%
• By 2075: 53,325 · -25.7%
• By 2100: 36,127 · -49.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Slovak 3% Italian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · DeKalb

• 2024 margin: Solid R (+74.0) · D 12.7% · R 86.7%
• 2008→2024 swing: -22.7pp toward R · 2008: -51.2pp · 2024: -74.0pp
• All cycles: 2024: R+74.0 2020: R+69.8 2016: R+69.4 2012: R+54.9 2008: R+51.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 21.37%
• Current HPI: 290.053
• 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

+18.8% since first listed

33 events — show timeline

• 2026-05-06 Price Changed $169,900 VMLS
• 2026-04-24 Relisted — VMLS
• 2026-04-16 Pending — VMLS
• 2026-04-08 Price Changed $189,900 VMLS
• 2026-03-18 Price Changed $210,900 VMLS
• 2026-02-25 Price Changed $220,000 VMLS
• 2026-02-20 Listed $230,000 VMLS
• 2026-01-08 Price Changed $226,000 VMLS
• 2025-12-12 Price Changed $229,900 VMLS
• 2025-11-19 Price Changed $230,900 VMLS
• 2025-11-05 Price Changed $235,900 VMLS
• 2025-10-09 Price Changed $239,900 VMLS
• 2025-09-22 Price Changed $240,800 VMLS
• 2025-09-10 Price Changed $248,800 VMLS
• 2025-08-18 Price Changed $249,900 VMLS
• 2025-08-14 Price Changed $255,900 VMLS
• 2025-08-04 Price Changed $258,000 VMLS
• 2025-07-21 Price Changed $259,900 VMLS
• 2025-06-04 Price Changed $264,500 VMLS
• 2025-05-02 Price Changed $264,900 VMLS
• 2025-03-12 Price Changed $269,900 VMLS
• 2025-01-21 Price Changed $272,500 VMLS
• 2024-12-27 Price Changed $274,500 VMLS
• 2024-11-22 Listed $278,000 VMLS
• 2023-11-08 Price Changed $272,300 VMLS
• 2023-10-17 Price Changed $274,500 VMLS
• 2023-09-22 Listed $279,900 VMLS
• 2023-02-17 Sold (MLS) $195,000 VMLS
• 2023-01-13 Pending — VMLS
• 2022-12-29 Price Changed $215,000 VMLS
• 2022-12-12 Listed $225,000 VMLS
• 2010-11-15 Sold (Public Records) $14,900 Public Records
• 2008-03-07 Listed $143,000 RCAOR

Property tax history

+3.4%/yr

Latest (2025): $676 · +4.5% YoY. Source: county tax records.