3308 Green Grove Dr NE · Tuscaloosa, AL 35404

$169,900

3 bd · 1.0 ba · 1,741 sqft · SingleFamily public records · 44 Days on market

Built 1973 0.35 ac lot $98/sqft · 22% below area Est $218k · 22% under ↓ 15% 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.0/10.0
• Rent growth +4.2/5.0
• Livability +3.9/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT OPPORTUNITY! LOCATION NEAR UNIVERSITY OF ALABAMA ( APPROX. 4 MILES FROM CAMPUS) 3 GREAT SIZED BEDROOMS, 2 FULL BATHROOMS, HUGE LIVING ROOM PLUS FAMILY ROOM! KITCHEN INCLUDES GAS COOKTOP, WALL OVEN, RERFIGERATOR, DISHWASHER, WITH A SPACIOUS BREAK FAST NOOK. LAUNDRY ROOM ATTACHED! COVERED PATIO THAT OVERLOOKS HUGE FENCED BACKYARD! GREAT PROPERTY FOR INVESTORS. SOLD "AS IS". READY FOR OFFER ! WASHER & DRYER DO NOT REMAIN.

Key facts

• Covered patio
• Huge fenced backyard
• 0.35 acre lot

Tags

• HUGE FENCED BACKYARD
• COVERED PATIO
• SPACIOUS BREAKFAST NOOK
• LAUNDRY ROOM ATTACHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.4% in Tuscaloosa — 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 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa City (urban): math 19% / reading 40% proficiency, ranked #74 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.8%/yr); 167 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• At $1,877/mo this rent would consume 46% of the median local household income ($49k/yr) (locally 1531% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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: 1.10% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.41%
• DSCR: 1.51
• GRM: 7.5

CMA / ARV

• ARV (median comp): $217,791
• List price: $169,900
• Delta: -21.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3128 Green Grove Ln NE	0.11mi	3/2.0	1,685 (-3%)	3mo	$208,500	$124	83
3307 Green Grove Dr NE	0.04mi	3/1.5	1,776 (+2%)	12mo	$195,000	$110	83
201 33rd Ave NE	0.15mi	3/2.0	1,820 (+4%)	15mo	$215,000	$118	69
4065 Cherry Wood Cir	0.56mi	3/2.0	1,905 (+9%)	3mo	$268,000	$141	51
140 25th Ave E	0.72mi	3/2.0	1,600 (-8%)	7mo	$199,000	$124	43
107 25th Ave E	0.67mi	3/2.0	1,684 (-3%)	24mo	$185,000	$110	40
6 Forest Dr	0.74mi	3/3.0	1,545 (-11%)	13mo	$239,900	$155	28

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 · 6.81% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.18×
• Total profit: $8,691
• Equity at exit: $25,333

10-year hold

• IRR: 17.0%
• Equity multiple: 2.63×
• Total profit: $77,580
• Equity at exit: $14,690

Cash invested: $47,572 (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 35404

• Rents YoY: 6.8%
• Active inventory: 167
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,877 high
• Mortgage (P&I): −$891
• Tax from tax record: −$68 /mo · $821/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $452

Break-even live

Break-even rent $1,304

Max offer price $169,900

Occupancy floor 71%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,400	$2.82	43d	5	0.71mi
419 30th Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	852	$2,200	$2.58	13d	7	0.71mi
4220 Keene Dr Tuscaloosa, AL	2.0–3.0	2.0	1119	$850	$0.76	21d	1	0.72mi
3550 Crescent Gardens Dr Tuscaloosa, AL	3.0	2.0	1116	$1,575	$1.41	43d	1	0.72mi
1308 Crescent Ridge Rd NE Tuscaloosa, AL	3.0	2.0	1052	$1,250	$1.19	43d	1	0.89mi
2919 University Blvd E Tuscaloosa, AL	3.0	1.5	1968	$1,800	$0.91	43d	1	1.02mi
829 21st Ave E Tuscaloosa, AL	3.0	3.5	1792	$2,569	$1.43	43d	1	1.34mi
3313 Alabama Ave NE Tuscaloosa, AL	4.0	2.0	1380	$1,500	$1.09	43d	1	1.35mi
922 23rd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	1092	$2,300	$2.11	13d	4	1.36mi
936 22nd Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,000	$2.21	13d	4	1.43mi
1010 23rd Ave E Tuscaloosa, AL	3.0	2.0	1251	$1,500	$1.20	43d	1	1.45mi
933 21st Ave E Tuscaloosa, AL	1.0–2.0	1.0–2.0	906	$2,150	$2.37	43d	2	1.46mi
927 Kicker Rd Tuscaloosa, AL	3.0	3.0	1412	$3,075	$2.18	21d	2	1.50mi

Listing history 4 events

1. 2026-05-14
   status Pending 450-char remark

   Show marketing remark (450 chars)

   INVESTMENT OPPORTUNITY! LOCATION NEAR UNIVERSITY OF ALABAMA ( APPROX. 4 MILES FROM CAMPUS) 3 GREAT SIZED BEDROOMS, 2 FULL BATHROOMS, HUGE LIVING ROOM PLUS FAMILY ROOM! KITCHEN INCLUDES GAS COOKTOP, WALL OVEN, RERFIGERATOR, DISHWASHER, WITH A SPACIOUS BREAK FAST NOOK. LAUNDRY ROOM ATTACHED! COVERED PATIO THAT OVERLOOKS HUGE FENCED BACKYARD! GREAT PROPERTY FOR INVESTORS. SOLD "AS IS". READY FOR OFFER ! WASHER & DRYER DO NOT REMAIN.

2. 2026-05-08
   price $169,900 450-char remark

   Show marketing remark (450 chars)

   INVESTMENT OPPORTUNITY! LOCATION NEAR UNIVERSITY OF ALABAMA ( APPROX. 4 MILES FROM CAMPUS) 3 GREAT SIZED BEDROOMS, 2 FULL BATHROOMS, HUGE LIVING ROOM PLUS FAMILY ROOM! KITCHEN INCLUDES GAS COOKTOP, WALL OVEN, RERFIGERATOR, DISHWASHER, WITH A SPACIOUS BREAK FAST NOOK. LAUNDRY ROOM ATTACHED! COVERED PATIO THAT OVERLOOKS HUGE FENCED BACKYARD! GREAT PROPERTY FOR INVESTORS. SOLD "AS IS". READY FOR OFFER ! WASHER & DRYER DO NOT REMAIN.

3. 2026-04-15
   price $189,900 450-char remark

   Show marketing remark (450 chars)

   INVESTMENT OPPORTUNITY! LOCATION NEAR UNIVERSITY OF ALABAMA ( APPROX. 4 MILES FROM CAMPUS) 3 GREAT SIZED BEDROOMS, 2 FULL BATHROOMS, HUGE LIVING ROOM PLUS FAMILY ROOM! KITCHEN INCLUDES GAS COOKTOP, WALL OVEN, RERFIGERATOR, DISHWASHER, WITH A SPACIOUS BREAK FAST NOOK. LAUNDRY ROOM ATTACHED! COVERED PATIO THAT OVERLOOKS HUGE FENCED BACKYARD! GREAT PROPERTY FOR INVESTORS. SOLD "AS IS". READY FOR OFFER ! WASHER & DRYER DO NOT REMAIN.

4. 2026-03-31
   listed $199,900 Active 450-char remark

   Show marketing remark (450 chars)

   INVESTMENT OPPORTUNITY! LOCATION NEAR UNIVERSITY OF ALABAMA ( APPROX. 4 MILES FROM CAMPUS) 3 GREAT SIZED BEDROOMS, 2 FULL BATHROOMS, HUGE LIVING ROOM PLUS FAMILY ROOM! KITCHEN INCLUDES GAS COOKTOP, WALL OVEN, RERFIGERATOR, DISHWASHER, WITH A SPACIOUS BREAK FAST NOOK. LAUNDRY ROOM ATTACHED! COVERED PATIO THAT OVERLOOKS HUGE FENCED BACKYARD! GREAT PROPERTY FOR INVESTORS. SOLD "AS IS". READY FOR OFFER ! WASHER & DRYER DO NOT REMAIN.

ⓘ 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: $821 · $68/mo
• Projected year-2 tax: $821 · $68/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 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,521
• − Mortgage interest: −$9,517
• − Property taxes: −$821
• − Insurance: −$850
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$4,943
• Taxable income: $2,787
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $4,760/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: Tuscaloosa City
• NCES district ID: 0103360
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $37,474
• Composite: 24.51/100
• National rank: #7647
• State rank: #74 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscaloosa, AL
• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 22,445
• Household income: $48,932
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 1531.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Black 46% White 44% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.00%
• Current HPI: 170.026
• Rent YoY: ▲ 6.81%
• Metro: Tuscaloosa, 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

-15.0% since first listed

4 events — show timeline

• 2026-05-14 Pending — WAMLS
• 2026-05-08 Price Changed $169,900 WAMLS
• 2026-04-15 Price Changed $189,900 WAMLS
• 2026-03-31 Listed $199,900 WAMLS

Property tax history

+4.1%/yr

Latest (2025): $821 · +34.7% YoY. Source: county tax records.