104 Golf Ter Unit 1B104 · Daphne, AL 36526

$149,000

2 bd · 2.0 ba · 900 sqft · Condo · 148 Days on market

Built 1973 Fair condition $280/mo HOA · 19% of rent ↓ 12% since listing

---

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 +8.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• DSCR +2.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Ground-Floor Condo – Priced to Sell. Updated since pictures. This well-maintained unit is a great investment opportunity or primary residence. It has rented for $1,650/month with potential for future increases. Enjoy the peaceful, wooded views from a cozy back deck for relaxing. Recent updates include a new central HVAC system, microwave, and stove. There's also a basement below the unit with existing plumbing and electrical (accessible from the front via a lattice-covered entrance). For information on Lake Forest amenities and fees, please contact the Lake Forest POA at 251-626-4728 (Golf) or 251-626-0788 (General). Amenities are not included in Golf Terrace dues but are available for an additional charge. Recent updates include resh paint, new linoleum in bathroom, New dishwasher(not hooked up), and refreshed kitchen cabinets, All information provided is believed to be accurate but should be verified by the buyer during the inspection period. Property sold as-is. Buyer to verify all information during due diligence.

Key facts

• Existing plumbing
• Wooded views
• Ground-floor condo

Tags

• GROUND-FLOOR CONDO
• WOODED VIEWS
• COZY BACK DECK
• NEW CENTRAL HVAC SYSTEM
• EXISTING PLUMBING
• EXISTING ELECTRICAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (12.0% below list).
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 3.9% in Daphne — 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 75/100 on livability (#18 in AL, #3,949 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A; Watch: amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Daphne Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 693 students, 53% FRL); Daphne Middle School (math 25% / reading 62%, grade D, #45 of 257 statewide, top 18%, 846 students, 45% FRL); Daphne High School (math 41% / reading 40%, grade F, #33 of 305 statewide, top 11%, 1,725 students, 40% FRL).
• Market conditions: Rents rising (+1.7%/yr); 600 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 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 $4k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $16k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $131,115 (12.0% 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 148 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
10. 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?
11. 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.
12. 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.
13. 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: 1.01% ✓
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.19×
• Total profit: $-33,731
• Equity at exit: $22,216

10-year hold

• IRR: -23.9%
• Equity multiple: -0.11×
• Total profit: $-46,354
• Equity at exit: $12,883

Cash invested: $41,720 (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 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 600
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,501 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$280
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $-124

Break-even live

Break-even rent $1,658

Max offer price $131,115

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-72	+0% $-124	+5% $-175	+10% $-227
Rent	-10% $-242	-5% $-183	+0% $-124	+5% $-64	+10% $-5
Rate	-1.0pp $-49	-0.5pp $-86	base $-124	+0.5pp $-162	+1.0pp $-201

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,473	$1.55	15d	10	0.32mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	22d	1	0.90mi
29100 N Main St Daphne, AL	1.0–2.0	1.0–2.0	576	$1,300	$2.26	45d	1	0.97mi
500 Grant St Daphne, AL	2.0	1.0–1.5	876	$1,300	$1.48	45d	2	0.99mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	15d	24	1.09mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	22d	1	1.40mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: electric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-30
   status $149,000 Pending 148 DOM
2. 2026-05-13
   price $149,000 1048-char remark

   Show marketing remark (1048 chars)

   Charming Ground-Floor Condo – Priced to Sell. Updated since pictures. This well-maintained unit is a great investment opportunity or primary residence. It has rented for $1,650/month with potential for future increases. Enjoy the peaceful, wooded views from a cozy back deck for relaxing. Recent updates include a new central HVAC system, microwave, and stove. There's also a basement below the unit with existing plumbing and electrical (accessible from the front via a lattice-covered entrance). For information on Lake Forest amenities and fees, please contact the Lake Forest POA at 251-626-4728 (Golf) or 251-626-0788 (General). Amenities are not included in Golf Terrace dues but are available for an additional charge. Recent updates include resh paint, new linoleum in bathroom, New dishwasher(not hooked up), and refreshed kitchen cabinets, All information provided is believed to be accurate but should be verified by the buyer during the inspection period. Property sold as-is. Buyer to verify all information during due diligence.

3. 2026-04-16
   price $155,000 1048-char remark

   Show marketing remark (1048 chars)

   Charming Ground-Floor Condo – Priced to Sell. Updated since pictures. This well-maintained unit is a great investment opportunity or primary residence. It has rented for $1,650/month with potential for future increases. Enjoy the peaceful, wooded views from a cozy back deck for relaxing. Recent updates include a new central HVAC system, microwave, and stove. There's also a basement below the unit with existing plumbing and electrical (accessible from the front via a lattice-covered entrance). For information on Lake Forest amenities and fees, please contact the Lake Forest POA at 251-626-4728 (Golf) or 251-626-0788 (General). Amenities are not included in Golf Terrace dues but are available for an additional charge. Recent updates include resh paint, new linoleum in bathroom, New dishwasher(not hooked up), and refreshed kitchen cabinets, All information provided is believed to be accurate but should be verified by the buyer during the inspection period. Property sold as-is. Buyer to verify all information during due diligence.

4. 2026-01-01
   listed $165,000 Active 1048-char remark

   Show marketing remark (1048 chars)

   Charming Ground-Floor Condo – Priced to Sell. Updated since pictures. This well-maintained unit is a great investment opportunity or primary residence. It has rented for $1,650/month with potential for future increases. Enjoy the peaceful, wooded views from a cozy back deck for relaxing. Recent updates include a new central HVAC system, microwave, and stove. There's also a basement below the unit with existing plumbing and electrical (accessible from the front via a lattice-covered entrance). For information on Lake Forest amenities and fees, please contact the Lake Forest POA at 251-626-4728 (Golf) or 251-626-0788 (General). Amenities are not included in Golf Terrace dues but are available for an additional charge. Recent updates include resh paint, new linoleum in bathroom, New dishwasher(not hooked up), and refreshed kitchen cabinets, All information provided is believed to be accurate but should be verified by the buyer during the inspection period. Property sold as-is. Buyer to verify all information during due diligence.

5. 2025-06-01
   price $165,000
6. 2025-05-16
   listed $170,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,017
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − HOA: −$3,360
• − Depreciation: −$4,335
• Taxable loss: −$3,887
• Est. tax savings @ 24.0%: +$933
• After-tax cash flow: $-550/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 · 12 photos

Fair 45/100 Moderate rehab

This charming ground-floor condo requires significant updates to its exterior and interior to improve its condition and value. Repainting the exterior and replacing the carpet are the highest-ROI updates that would significantly increase its resale and rental value.

Repairs flagged

• Major siding — Severe weathering and peeling
• Major interior walls — Worn carpet and outdated decor
• Major kitchen appliances — Old and outdated appliances
• Major bathroom fixtures — Small and outdated fixtures
• Major flooring — Worn carpet and outdated decor

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and aesthetics
• Both Upgrade kitchen appliances — Modernizes the space and increases value
• Both Update bathroom fixtures — Enhances functionality and aesthetics
• Both Upgrade flooring — Improves comfort and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering and peeling	Major	$15,000–50,000
interior walls · Worn carpet and outdated decor	Major	$15,000–50,000
kitchen appliances · Old and outdated appliances	Major	$15,000–50,000
bathroom fixtures · Small and outdated fixtures	Major	$15,000–50,000
flooring · Worn carpet and outdated decor	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and aesthetics ↑
• Both Upgrade kitchen appliances — Modernizes the space and increases value ↑
• Both Update bathroom fixtures — Enhances functionality and aesthetics ↑
• Both Upgrade flooring — Improves comfort and aesthetics ↑

ⓘ 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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Daphne

• Score: 75/100
• State rank: #18
• US rank: #3949

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Daphne, AL
• County: Baldwin County · 181,514 people
• City population: 36,484
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 36,484
• Household income: $88,750
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 535.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% French/Haitian/Cajun 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.47%
• Current HPI: 227.2692
• Rent YoY: ▲ 1.72%
• Metro: Daphne-Fairhope-Foley, AL
• 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

-12.4% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $149,000 BCAR
• 2026-04-16 Price Changed $155,000 BCAR
• 2026-01-01 Listed $165,000 BCAR
• 2025-06-01 Price Changed $165,000 BCAR
• 2025-05-16 Listed $170,000 BCAR