509 Cave Rd · Anniston, AL 36206

$39,900

2 bd · 1.0 ba · 1,158 sqft · SingleFamily public records · 1 Days on market

Built 1948 0.29 ac lot ↓ 30% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this awesome priced 3 bedroom and 1.5 bath home. Plenty of space in this eat in kitchen with solid wood cabinets and appliances, covered porch and sunroom, attached car garage. This would be an investors dream or just use for your personal home. Seller to give 1 year home warranty.

Key facts

• 0.29 acre lot
• Garage
• Built 1948

Property features AI

Finance

• Financial info: Monthly garbage fee ($20)
• HOA & community: No association fee

Exterior

• Parking: Rear garage entry; Driveway parking; Parking on main level; One garage space
• Utilities: Public water; Septic system; Electric water heater; Internet available (Sparklight)
• Home design: Existing (previously built) property; Not split-level, tri-level, loft, or split-foyer
• Construction: Vinyl siding; Crawl space foundation; Deck(s) present (screened)
• Exterior features: Fenced yard; Screened porch; Screened deck; Some trees on the lot

Interior

• Kitchen: Laminate countertops; Eating area; Electric cooktop, built-in dishwasher, electric oven/stove
• Bedrooms: Two bedrooms (both on main level)
• Flooring: Hardwood laminate flooring; Tile flooring
• Bathrooms: One full bathroom with tub/shower combo (on main level)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceilings noted as 'Other (see remarks)'; Some window treatments to remain; No special interior features listed
• Laundry & utility: Main-level laundry room; Washer hookup and electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Cap rate 23.5% vs local median 5.1% in Anniston — 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 58/100 on livability (#348 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Anniston City (urban): math 2% / reading 12% proficiency, ranked #128 of 129 in AL (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Golden Springs Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 414 students, 78% FRL); Anniston High School (math 2% / reading 12%, grade F, #265 of 305 statewide, top 89%, 466 students, 86% FRL) — zoned schools at 82% FRL track the district average.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Calhoun County population projected at -21% 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,900

Questions for the listing agent

1. Built in 1948 — 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. 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?
4. 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?
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: 2.74% ✓
• Cap rate: 23.52%
• Cash-on-cash: 61.53%
• DSCR: 3.74
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $154,014
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6409 Skyline Dr	0.44mi	2/1.0	1,120 (-3%)	16mo	$129,000	$115	60
225 Hillside Dr	0.51mi	3/2.0 (+1)	1,113 (-4%)	4mo	$169,900	$153	58
53 Pelham Hts	0.37mi	3/1.0 (+1)	1,296 (+12%)	7mo	$100,000	$77	52
6129 Spruce Dr	0.60mi	3/2.0 (+1)	1,236 (+7%)	14mo	$165,000	$133	40

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: 60.4%
• Equity multiple: 3.69×
• Total profit: $30,042
• Equity at exit: $5,949

10-year hold

• IRR: 65.1%
• Equity multiple: 7.56×
• Total profit: $73,240
• Equity at exit: $3,450

Cash invested: $11,172 (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 36206

• Home prices YoY: -20.6%
• Active inventory: 39
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,093 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$64 /mo · $774/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $573

Break-even live

Break-even rent $368

Max offer price $39,900

Occupancy floor 43%

Sensitivity live

Price	-10% $595	-5% $584	+0% $573	+5% $562	+10% $550
Rent	-10% $486	-5% $530	+0% $573	+5% $616	+10% $659
Rate	-1.0pp $593	-0.5pp $583	base $573	+0.5pp $562	+1.0pp $552

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1226 Parker Blvd Unit J2 Weaver, AL	2.0	1.0	990	$1,000	$1.01	44d	1	1.43mi

Listing history 2 events

1. 2026-06-19
   remarks 327-char remark
2. 2026-06-19
   listed $39,900 Active 1 DOM

ⓘ 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: $774 · $64/mo
• Projected year-2 tax: $774 · $64/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,111
• − Mortgage interest: −$2,235
• − Property taxes: −$774
• − Insurance: −$200
• − Repairs & maintenance: −$1,049
• − Management: −$1,049
• − Depreciation: −$1,161
• Taxable income: $6,644
• Est. tax owed @ 24.0%: −$1,595
• After-tax cash flow: $5,279/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: Anniston City
• NCES district ID: 0100090
• Math proficiency: 2% ▼ -20.00%
• Reading proficiency: 12% ▼ -15.00%
• Median HH income: $31,824
• Composite: 5.36/100
• National rank: #10030
• State rank: #128 of 129 in AL

Livability — Anniston

• Score: 58/100
• State rank: #348
• US rank: #20680

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anniston, AL
• County: Calhoun County · 71,763 people
• City population: 19,220
• Metro: Anniston-Oxford, AL
• Population (ZIP): 11,172
• Household income: $51,116
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 300.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 109,765 people
• By 2030: 105,708 · -3.7%
• By 2040: 96,192 · -12.4%
• By 2050: 86,413 · -21.3%
• By 2075: 63,467 · -42.2%
• By 2100: 44,704 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 38% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 5% Other Asian/Pacific 1%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+44.8) · D 27.2% · R 71.9%
• 2008→2024 swing: -12.2pp toward R · 2008: -32.5pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+39.0 2016: R+41.4 2012: R+31.9 2008: R+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -45.39%
• Current HPI: 175.4422
• Rent YoY: —
• Metro: Anniston-Oxford, 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

-29.9% since first listed

7 events — show timeline

• 2026-06-17 Listed $39,900 Greater Alabama MLS
• 2019-03-08 Sold (Public Records) $45,000 Public Records
• 2019-03-08 Sold (MLS) $45,000 Greater Alabama MLS
• 2019-02-14 Delisted — Greater Alabama MLS
• 2018-10-18 Listed $55,000 Greater Alabama MLS
• 2018-08-27 Price Changed $51,500 Greater Alabama MLS
• 2018-06-21 Price Changed $56,900 Greater Alabama MLS

Property tax history

+86.1%/yr

Latest (2021): $774 · -1.3% YoY. Source: county tax records.