3223 Martin St S · Pell City, AL 35054

$149,900

2 bd · 1.0 ba · 1,371 sqft · SingleFamily · 193 Days on market

Built 1929 1.90 ac lot

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Why this score? — see what drove the C 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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is a very rare find!! There are 2 large shops on the property, one that is perfect for equipment and includes an office area already built, the second large shop also has an office area but includes troughs that were previously used for raising bait fish. The second building also includes an already built in office. Both buildings have large roll up doors. There is small home included on this property that has 3 bedrooms, 1 full bath, kitchen and separate dinning area. This property offers a total of 4.78 acres right off of 231. There is already a fenced in part of this property next to the home that even has the white fence dreams a made of. This little farm house with all the room for animals and toys is the perfect place you have been looking for.

Key facts

• New bath
• Mini farm
• New kitchen

Tags

• MINI FARM
• TWO SEPARATE PARCELS
• LARGE BUILDINGS FOR WORKSHOPS
• UPDATED OFFICE
• NEW KITCHEN
• NEW BATH

Property features AI

Finance

• Other: Approximately 1.9 acres
• Financial info: Down payment assistance available

Exterior

• Parking: Attached parking; Driveway parking; One covered carport space
• Utilities: Public water; Septic system; Electric water heater; Internet service available (provider: Hargray)
• Home design: Existing construction; Siding vinyl exterior; Crawl space foundation; Not waterfront; No pool, deck, patio, or garden listed; Property access via public road
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Porch

Interior

• Kitchen: Laminate countertops; Gas oven; Refrigerator included; Some stainless appliances
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Tile flooring
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Split bedroom layout; Workshop (exterior); Some window treatments to remain; Other ceiling details (see remarks)
• Laundry & utility: Laundry room on the main level; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.5% in Pell City — 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 69/100 on livability (#50 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, employment D+, amenities F.
• Pell City (town): math 17% / reading 44% proficiency, ranked #67 of 129 in AL (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coosa Valley Elementary School (math 37% / reading 62%, grade D, #121 of 627 statewide, top 21%, 486 students, 54% FRL); Pell City High School (math 17% / reading 21%, grade F, #181 of 305 statewide, top 60%, 1,171 students, 55% FRL).
• Market conditions: 108 active listings in the ZIP; 557 units permitted in St. Clair County in 2024 (0 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.
• St. Clair County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $400k (73%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.12% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.41%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.5%
• Equity multiple: 0.87×
• Total profit: $-5,529
• Equity at exit: $22,351

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $19,414
• Equity at exit: $12,961

Cash invested: $41,972 (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 35054

• Home prices YoY: -20.8%
• Active inventory: 108
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,684 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $294

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 78%

Sensitivity live

Price	-10% $398	-5% $346	+0% $294	+5% $242	+10% $191
Rent	-10% $161	-5% $228	+0% $294	+5% $361	+10% $427
Rate	-1.0pp $370	-0.5pp $332	base $294	+0.5pp $255	+1.0pp $216

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $149,900 Active 193 DOM
2. 2026-06-17
   days on market $149,900 Active 192 DOM
3. 2026-06-16
   days on market $149,900 Active 191 DOM
4. 2026-06-15
   days on market $149,900 Active 190 DOM
5. 2026-06-13
   days on market $149,900 Active 188 DOM
6. 2026-06-10
   days on market $149,900 Active 185 DOM
7. 2026-06-09
   days on market $149,900 Active 184 DOM
8. 2026-06-08
   days on market $149,900 Active 183 DOM
9. 2026-06-07
   days on market $149,900 Active 182 DOM
10. 2026-06-05
    days on market $149,900 Active 179 DOM
11. 2026-06-03
    days on market $149,900 Active 178 DOM
12. 2026-06-02
    days on market $149,900 Active 177 DOM
13. 2026-06-01
    days on market $149,900 Active 176 DOM
14. 2026-05-31
    days on market $149,900 Active 175 DOM
15. 2026-02-12
    status Active
16. 2026-01-10
    historical
17. 2025-11-27
    price $149,900
18. 2025-11-05
    listed $550,000 Active
19. 2023-08-04
    soldstatus $295,000 Sold 776-char remark

    Show marketing remark (776 chars)

    This property is a very rare find!! There are 2 large shops on the property, one that is perfect for equipment and includes an office area already built, the second large shop also has an office area but includes troughs that were previously used for raising bait fish. The second building also includes an already built in office. Both buildings have large roll up doors. There is small home included on this property that has 3 bedrooms, 1 full bath, kitchen and separate dinning area. This property offers a total of 4.78 acres right off of 231. There is already a fenced in part of this property next to the home that even has the white fence dreams a made of. This little farm house with all the room for animals and toys is the perfect place you have been looking for.

20. 2023-06-12
    historical Contingent 776-char remark

    Show marketing remark (776 chars)

    This property is a very rare find!! There are 2 large shops on the property, one that is perfect for equipment and includes an office area already built, the second large shop also has an office area but includes troughs that were previously used for raising bait fish. The second building also includes an already built in office. Both buildings have large roll up doors. There is small home included on this property that has 3 bedrooms, 1 full bath, kitchen and separate dinning area. This property offers a total of 4.78 acres right off of 231. There is already a fenced in part of this property next to the home that even has the white fence dreams a made of. This little farm house with all the room for animals and toys is the perfect place you have been looking for.

21. 2023-05-21
    listed $324,900 Active 776-char remark

    Show marketing remark (776 chars)

    This property is a very rare find!! There are 2 large shops on the property, one that is perfect for equipment and includes an office area already built, the second large shop also has an office area but includes troughs that were previously used for raising bait fish. The second building also includes an already built in office. Both buildings have large roll up doors. There is small home included on this property that has 3 bedrooms, 1 full bath, kitchen and separate dinning area. This property offers a total of 4.78 acres right off of 231. There is already a fenced in part of this property next to the home that even has the white fence dreams a made of. This little farm house with all the room for animals and toys is the perfect place you have been looking for.

22. 2022-12-16
    price $649,900
23. 2022-11-03
    price $725,000

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 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 3/10 Moderate 1 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,204
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$4,361
• Taxable income: $1,216
• Est. tax owed @ 24.0%: −$292
• After-tax cash flow: $3,238/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: Pell City
• NCES district ID: 0102650
• Math proficiency: 17% ▼ -30.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $45,051
• Composite: 26.04/100
• National rank: #7303
• State rank: #67 of 129 in AL

Livability — Pell City

• Score: 69/100
• State rank: #50
• US rank: #8246

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pell City, AL
• City population: 10,546
• Population (ZIP): 4,954

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 94,158 people
• By 2030: 97,008 · +3.0%
• By 2040: 101,615 · +7.9%
• By 2050: 104,537 · +11.0%
• By 2075: 109,350 · +16.1%
• By 2100: 106,785 · +13.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Black 3% Asian 2%
• Common ancestry: Italian 10% Lithuanian 2% Serbian 2%
• Foreign-born: 1% · South Korea
• Languages at home: 99% English-only · Other Indo-European 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+64.1) · D 17.6% · R 81.7%
• 2008→2024 swing: -0.9pp no change · 2008: -63.2pp · 2024: -64.1pp
• All cycles: 2024: R+64.1 2020: R+64.0 2016: R+68.6 2012: R+66.1 2008: R+63.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.47%
• Current HPI: 188.9891
• 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

-79.3% since first listed

9 events — show timeline

• 2026-02-12 Relisted — Greater Alabama MLS
• 2026-01-10 Delisted — Greater Alabama MLS
• 2025-11-27 Price Changed $149,900 Greater Alabama MLS
• 2025-11-05 Listed $550,000 Greater Alabama MLS
• 2023-08-04 Sold (MLS) $295,000 Greater Alabama MLS
• 2023-06-12 Contingent — Greater Alabama MLS
• 2023-05-21 Listed $324,900 Greater Alabama MLS
• 2022-12-16 Price Changed $649,900 Greater Alabama MLS
• 2022-11-03 Price Changed $725,000 Greater Alabama MLS