292 2nd Ave NW · Vernon, AL 35592

$139,900

4 bd · 2.0 ba · 1,296 sqft · SingleFamily public records · 54 Days on market

Built 1958 0.43 ac lot $108/sqft · 49% above area Est $108k · 29% over

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Why this score? — see what drove the D- 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 +13.9/30.0
• Appreciation +5.2/10.0
• DSCR +4.2/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

4 Beds/2 Baths home on 0.43-acre lot with room to spread inside and out. Features extra room perfect for at home office, storm shelter, storage building out back and a 2-car carport. Located within close distance from Restaurants and shopping centers. SOLD AS IS. Schedule your showing today. Hablo Espanol.

Key facts

• 2-car carport
• Storage building
• Extra room

Tags

• EXTRA ROOM
• AT HOME OFFICE
• STORM SHELTER
• STORAGE BUILDING
• 2-CAR CARPORT

Property features AI

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer; Water and sewer connected
• Home design: Single-family residence; Residential property
• Construction: Brick and vinyl siding construction; Above-grade finished area approximately 1,500
• Exterior features: Metal roof; Shed(s); City lot; level, rectangular; Asphalt road frontage on a public, city street

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total rooms: 10
• Flooring: Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Window unit(s)
• Interior features: Storage; Soaking tub; Aluminum window frames; Shutters
• Laundry & utility: Laundry room with washer and electric dryer hookups; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $16 ($193/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (24.3% below list).
• Recommended offer: $106k (24.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#156 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute F.
• Lamar County (rural): math 23% / reading 44% proficiency, ranked #57 of 129 in AL (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Vernon Elementary School (math 42% / reading 47%, grade F, #171 of 627 statewide, top 31%, 278 students, 72% FRL) — zoned schools average 72% FRL vs 48% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 11 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($967 loan paydown + $453 appreciation (0.3% local appreciation)).
• Lamar County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $140k implies a 211% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,848 (24.3% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.49%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (median comp): $108,375
• List price: $139,900
• Delta: 29.09%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

0.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,002
• Equity at exit: $42,900

10-year hold

• IRR: 4.8%
• Equity multiple: 1.53×
• Total profit: $20,951
• Equity at exit: $53,423

Cash invested: $39,172 (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 35592

• Home prices YoY: 0.2%
• Active inventory: 11
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$28 /mo · $338/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $16

Break-even live

Break-even rent $1,038

Max offer price $139,900

Occupancy floor 93%

Sensitivity live

Price	-10% $95	-5% $56	+0% $16	+5% $-24	+10% $-63
Rent	-10% $-68	-5% $-26	+0% $16	+5% $58	+10% $100
Rate	-1.0pp $87	-0.5pp $52	base $16	+0.5pp $-20	+1.0pp $-57

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $139,900 Active 54 DOM
2. 2026-06-19
   days on market $139,900 Active 52 DOM
3. 2026-06-18
   days on market $139,900 Active 51 DOM
4. 2026-06-17
   days on market $139,900 Active 50 DOM
5. 2026-06-16
   days on market $139,900 Active 49 DOM
6. 2026-06-15
   days on market $139,900 Active 48 DOM
7. 2026-06-14
   days on market $139,900 Active 46 DOM
8. 2026-06-12
   days on market $139,900 Active 45 DOM
9. 2026-06-09
   days on market $139,900 Active 42 DOM
10. 2026-06-08
    days on market $139,900 Active 41 DOM
11. 2026-06-07
    days on market $139,900 Active 40 DOM
12. 2026-06-04
    days on market $139,900 Active 36 DOM
13. 2026-06-02
    days on market $139,900 Active 35 DOM
14. 2026-06-01
    days on market $139,900 Active 34 DOM
15. 2026-05-31
    days on market $139,900 Active 33 DOM
16. 2026-05-31
    days on market $139,900 Active 32 DOM
17. 2026-04-28
    listed $139,900 Active 307-char remark
18. 2018-08-02
    soldstatus $45,000

ⓘ 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: $338 · $28/mo
• Projected year-2 tax: $574 · $48/mo
• Expected delta: +$235/yr (+$20/mo · 69.6%)

ⓘ 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 ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,702
• − Mortgage interest: −$7,837
• − Property taxes: −$338
• − Insurance: −$700
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$4,070
• Taxable loss: −$2,275
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $739/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: Lamar County
• NCES district ID: 0101950
• Math proficiency: 23% ▼ -26.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $34,856
• Composite: 27.58/100
• National rank: #6937
• State rank: #57 of 129 in AL

Livability — Vernon

• Score: 64/100
• State rank: #156
• US rank: #14258

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vernon, AL
• Population (ZIP): 4,573

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 12,818 people
• By 2030: 12,235 · -4.5%
• By 2040: 11,110 · -13.3%
• By 2050: 10,081 · -21.4%
• By 2075: 8,013 · -37.5%
• By 2100: 6,222 · -51.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 11% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Lithuanian 3% Italian 2% Iranian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+76.0) · D 11.7% · R 87.8%
• 2008→2024 swing: -22.2pp toward R · 2008: -53.8pp · 2024: -76.0pp
• All cycles: 2024: R+76.0 2020: R+72.2 2016: R+69.0 2012: R+53.2 2008: R+53.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.32%
• Current HPI: 147.5982
• 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

+210.9% since first listed

2 events — show timeline

• 2026-04-28 Listed $139,900 SAARMLS
• 2018-08-02 Sold (Public Records) $45,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $338 · -0.9% YoY. Source: county tax records.