500 Grant Street St Unit A104 · Daphne, AL 36526

$149,000

2 bd · 1.5 ba · 873 sqft · SingleFamily · 153 Days on market

Built 1983 Good condition 1.42 ac lot $171/sqft · 28% below area Est $208k · 28% under $250/mo HOA · 18% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +7.8/30.0
• 1% rule +4.4/10.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.9/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR OPPORTUNITY! Seven units are available for purchase together or separately, offering flexibility for investors looking to add to their portfolio or acquire a cash-flowing package. The seller would prefer a portfolio sale but will consider individual offers. The four occupied units are offered together for $572,000, with $63,700 in gross annual income, $41,392 NOI, and a 7.24% pro forma cap rate. These figures are based on historical performance and are provided for informational purposes only; future income, expenses, and returns are not guaranteed and may change. For reference, the individual MLS numbers for the four occupied units are: 395674, 395671, 395670, 395666.

Key facts

• Covered deck
• Community pool
• Large walk-in closet

Tags

• COVERED DECK
• LARGE WALK-IN CLOSET
• VANITY AREA
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $149k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (5.5% below list).
• Recommended offer: $125k (16.3% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 4.0% in Daphne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 879 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 153 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $124,714 (16.3% 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 153 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.83%
• DSCR: 0.79
• GRM: 8.8

CMA / ARV

• ARV (median comp): $207,743
• List price: $149,000
• Delta: -28.28%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Lake Forest Boulevard Blvd Unit 123F	0.07mi	2/1.5	873 (0%)	1mo	$136,500	$156	96
1000 D'olive Springs Dr Unit E-1	0.21mi	2/2.0	1,041 (+19%)	10mo	$225,000	$216	55
104 Golf Ter Unit 1B104	1.00mi	2/2.0	900 (+3%)	4mo	$142,000	$158	55
209 Golf Ter #209	1.00mi	2/2.0	900 (+3%)	7mo	$150,000	$167	52
4 Yacht Club Dr #180	0.82mi	2/2.0	972 (+11%)	8mo	$165,000	$170	38
2101 Seacliff Dr #2101	0.73mi	1/1.0 (-1)	951 (+9%)	10mo	$185,248	$195	35
4 Yacht Club Dr #202	0.82mi	2/2.0	1,010 (+16%)	5mo	$205,000	$203	34
6 Yacht Club Dr #109	0.73mi	1/1.5 (-1)	1,000 (+14%)	4mo	$130,000	$130	33
35 Summer Oaks Dr #35	1.38mi	2/1.5	1,074 (+23%)	10mo	$152,500	$142	32
4 Yacht Club Dr #154	0.82mi	2/2.0	1,035 (+19%)	8mo	$142,500	$138	31
4 Yacht Club Dr #134	0.82mi	2/2.0	1,035 (+19%)	9mo	$164,900	$159	30
4 Yacht Club Dr #174	0.82mi	2/2.0	1,080 (+24%)	10mo	$165,000	$153	30

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 · 1.72% rent growth · sell at horizon

5-year hold

• IRR: -26.2%
• Equity multiple: 0.13×
• Total profit: $-36,449
• Equity at exit: $22,216

10-year hold

• IRR: -28.8%
• Equity multiple: -0.25×
• Total profit: $-51,951
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 12 active · 2 under contract
• Months of supply: 36.0 mo (3%/mo absorbed)
• Median asking: $149,000 ($171/sqft)
• Median days on market: 153 d
• This list price: 42% of active listings are priced below it
• ARV vs active asking: +39.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36526

• Home prices YoY: -21.3%
• Rents YoY: 1.7%
• Active inventory: 879
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,407 high
• Mortgage (P&I): −$781
• Tax est. 1.5%: −$186 /mo · $2,235/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-168

Break-even live

Break-even rent $1,620

Max offer price $124,714

Occupancy floor —

Sensitivity live

Price	-10% $-65	-5% $-116	+0% $-168	+5% $-219	+10% $-271
Rent	-10% $-279	-5% $-223	+0% $-168	+5% $-112	+10% $-57
Rate	-1.0pp $-93	-0.5pp $-130	base $-168	+0.5pp $-206	+1.0pp $-246

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Grant St Daphne, AL	2.0	1.0–1.5	876	$1,300	$1.48	139d	2	0.03mi
512 Lake Forest Blvd Daphne, AL	2.0	1.5	873	$1,200	$1.37	117d	1	0.07mi
29100 N Main St Daphne, AL	2.0	1.0–2.0	576	$1,300	$2.26	6d	1	0.13mi
133 Lake Front Dr Daphne, AL	1.0–2.0	1.0–2.5	950	$1,463	$1.54	6d	6	0.66mi
2024 Sea Cliff Dr N Unit 2024 Daphne, AL	1.0	1.0	538	$1,750	$3.25	117d	1	0.72mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,926	$1.90	6d	27	1.14mi
30000 Town Center Ave Spanish Fort, AL	1.0–2.0	1.0–2.0	1015	$1,860	$1.83	109d	24	1.14mi

Property features AI

Finance

• HOA & community: Annual association fee of $250Association covers management, common area insurance, grounds maintenance, pest control, common-area taxes, trash service, and poolTransfer fees applyCommunity features include an outdoor pool

Exterior

• Parking: Assigned parking
• Utilities: Public sewerTotal electric serviceDaphne Utilities and Riviera Utilities available
• Home design: Condo, attachedOne levelResale propertyNo one below (no shared unit beneath)
• Construction: Brick constructionSlab foundationComposition roofBuilding area approximately 873 square feet
• Exterior features: Covered patio/porchBalcony (approx. 8 x 10)Few trees on the groundsCommunity/association pool

Interior

• Kitchen: DishwasherConvection ovenRefrigerator
• Bedrooms: First-floor primary bedroom with walk-in closet and primary bath combo (approx. 13' x 12')Second bedroom (approx. 11' x 9')
• Flooring: CarpetTile
• Bathrooms: One full bathroomOne half bathroomPrimary bathroom with separate shower
• Heating & cooling: Electric heatingCentral electric coolingCeiling fans for additional cooling
• Interior features: Ceiling fansNo fireplaceStorage
• Laundry & utility: Washer and dryerLaundry located outside the unitElectric water heater

Listing history 50 events

1. 2026-09-24
   days on market $149,000 Active 153 DOM
2. 2026-09-24
   days on market $149,000 Active 152 DOM
3. 2026-09-22
   days on market $149,000 Active 151 DOM
4. 2026-09-21
   days on market $149,000 Active 150 DOM
5. 2026-09-20
   days on market $149,000 Active 149 DOM
6. 2026-09-19
   days on market $149,000 Active 148 DOM
7. 2026-09-18
   days on market $149,000 Active 147 DOM
8. 2026-09-17
   days on market $149,000 Active 146 DOM
9. 2026-09-16
   days on market $149,000 Active 145 DOM
10. 2026-09-15
    days on market $149,000 Active 144 DOM
11. 2026-09-14
    days on market $149,000 Active 143 DOM
12. 2026-09-13
    days on market $149,000 Active 142 DOM
13. 2026-09-12
    days on market $149,000 Active 141 DOM
14. 2026-09-11
    days on market $149,000 Active 140 DOM
15. 2026-09-05
    days on market $149,000 Active 134 DOM
16. 2026-09-04
    days on market $149,000 Active 133 DOM
17. 2026-09-03
    days on market $149,000 Active 132 DOM
18. 2026-08-31
    days on market $149,000 Active 129 DOM
19. 2026-08-30
    days on market $149,000 Active 128 DOM
20. 2026-08-29
    days on market $149,000 Active 127 DOM
21. 2026-08-28
    days on market $149,000 Active 126 DOM
22. 2026-08-27
    days on market $149,000 Active 125 DOM
23. 2026-08-25
    days on market $149,000 Active 123 DOM
24. 2026-08-24
    days on market $149,000 Active 122 DOM
25. 2026-08-23
    days on market $149,000 Active 121 DOM
26. 2026-08-22
    days on market $149,000 Active 120 DOM
27. 2026-08-21
    days on market $149,000 Active 119 DOM
28. 2026-08-20
    days on market $149,000 Active 118 DOM
29. 2026-08-19
    days on market $149,000 Active 117 DOM
30. 2026-08-18
    days on market $149,000 Active 116 DOM
31. 2026-08-17
    days on market $149,000 Active 115 DOM
32. 2026-08-16
    days on market $149,000 Active 114 DOM
33. 2026-08-15
    days on market $149,000 Active 113 DOM
34. 2026-08-14
    days on market $149,000 Active 112 DOM
35. 2026-08-13
    days on market $149,000 Active 111 DOM
36. 2026-08-12
    days on market $149,000 Active 110 DOM
37. 2026-08-11
    days on market $149,000 Active 109 DOM
38. 2026-08-10
    days on market $149,000 Active 108 DOM
39. 2026-08-09
    days on market $149,000 Active 107 DOM
40. 2026-08-08
    days on market $149,000 Active 106 DOM
41. 2026-08-07
    days on market $149,000 Active 105 DOM
42. 2026-08-06
    days on market $149,000 Active 104 DOM
43. 2026-08-05
    days on market $149,000 Active 103 DOM
44. 2026-08-04
    days on market $149,000 Active 102 DOM
45. 2026-08-03
    days on market $149,000 Active 101 DOM
46. 2026-07-31
    days on market $149,000 Active 98 DOM
47. 2026-07-30
    days on market $149,000 Active 97 DOM
48. 2026-07-29
    days on market $149,000 Active 96 DOM
49. 2026-07-27
    days on market $149,000 Active 94 DOM
50. 2026-07-25
    days on market $149,000 Active 92 DOM

ⓘ 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 · 22 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: $16,889
• − Mortgage interest: −$8,346
• − Property taxes: −$2,235
• − Insurance: −$745
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − HOA: −$3,000
• − Depreciation: −$4,335
• Taxable loss: −$4,474
• Est. tax savings @ 24.0%: +$1,074
• After-tax cash flow: $-940/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

Good 80/100 Cosmetic rehab Est. rehab $4,365–$13,095 screening

This property is in good condition with cosmetic updates needed. It offers a good investment opportunity with potential for both resale and rental value.

Value-add opportunities

• Both Paint the railings — Enhances curb appeal and resale value ↑
• Both Replace the ceiling fans — Modernizes the space and improves air circulation ↑
• Both Install new kitchen appliances — Modernizes the kitchen and improves functionality ↑
• Both Install new bathroom fixtures — Modernizes the bathroom and improves functionality ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Daphne Elementary School D- AL #142/627 Nat'l #14,504/41,679 Middle Daphne Middle School D AL #45/257 Nat'l #5,067/14,009 High Daphne High School F AL #33/305 Nat'l #8,052/17,239

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

B Composite livability gradescore 75/100

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 · 248,264 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: 8% of renters

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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%

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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%

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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

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• HOA & community: Annual association fee of $250Association covers management, common area insurance, grounds maintenance, pest control, common-area taxes, trash service, and poolTransfer fees applyCommunity features include an outdoor pool

Exterior

• Parking: Assigned parking
• Utilities: Public sewerTotal electric serviceDaphne Utilities and Riviera Utilities available
• Home design: Condo, attachedOne levelResale propertyNo one below (no shared unit beneath)
• Construction: Brick constructionSlab foundationComposition roofBuilding area approximately 873 square feet
• Exterior features: Covered patio/porchBalcony (approx. 8 x 10)Few trees on the groundsCommunity/association pool

Interior

• Kitchen: DishwasherConvection ovenRefrigerator
• Bedrooms: First-floor primary bedroom with walk-in closet and primary bath combo (approx. 13' x 12')Second bedroom (approx. 11' x 9')
• Flooring: CarpetTile
• Bathrooms: One full bathroomOne half bathroomPrimary bathroom with separate shower
• Heating & cooling: Electric heatingCentral electric coolingCeiling fans for additional cooling
• Interior features: Ceiling fansNo fireplaceStorage
• Laundry & utility: Washer and dryerLaundry located outside the unitElectric water heater

Price history

+12368.6% since first listed

3 events — show timeline

• 2026-04-24 Listed $149,000 BCAR
• 2025-10-08 Rental Removed $1,195 BCAR
• 2025-10-04 Listed for Rent $1,195 BCAR