831 N 35th St · Gadsden, AL 35904

$17,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 2 Days on market

Built 1944 4,356 sqft lot

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Investors-As Is Sale-Seller has not lived in home in many years

Key facts

• 4,356 sq ft lot
• Built 1944
• Listed 2 days

Property features AI

Finance

• HOA & community: No homeowners association; Subdivision: Sam Bailey

Exterior

• Parking: Dirt driveway
• Utilities: Public sewer
• Home design: Single-family residence; Residential property; Built in 1944; 864 square feet of living area
• Construction: Frame construction
• Exterior features: Detached building on property; Gravel driveway

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Two window air conditioning units
• Interior features: Crawl space foundation; One fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $485 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($750 rent vs $17k).
• Cap rate 40.5% vs local median 5.0% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Floyd Elementary School (math 17% / reading 27%, grade F, #442 of 627 statewide, top 72%, 367 students, 85% FRL); Sansom Middle School (math 7% / reading 38%, grade F, #180 of 257 statewide, top 70%, 376 students, 84% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL) — zoned schools average 82% FRL vs 66% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $118 of loan paydown is wiped out by about $510 of value loss. Plan a longer hold.
• Etowah County population projected at -12% 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 25% 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 $17,000

Questions for the listing agent

1. Built in 1944 — 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. 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?
4. 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?
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: 4.41% ✓
• Cap rate: 40.51%
• Cash-on-cash: 122.21%
• DSCR: 6.44
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $58,752
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
803 N 32nd St	0.16mi	2/1.0 (-1)	894 (+4%)	10mo	$80,000	$89	73
506 33rd St N	0.21mi	2/1.0 (-1)	912 (+6%)	9mo	$28,200	$31	68
922 N 33rd St	0.11mi	3/1.0	960 (+11%)	16mo	$65,000	$68	63
8 Laurel Rd	0.63mi	2/1.0 (-1)	840 (-3%)	1mo	$67,000	$80	60
42 Wilkinson Ave E	0.45mi	2/2.0 (-1)	920 (+6%)	11mo	$132,500	$144	50
1 Cabot Ave	0.67mi	2/1.0 (-1)	984 (+14%)	12mo	$59,000	$60	30
12 Southern Ave	0.62mi	2/1.0 (-1)	978 (+13%)	17mo	$25,000	$26	30
2706 Sansom Ave	0.71mi	3/1.0	736 (-15%)	23mo	$15,000	$20	23

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: —
• Equity multiple: 6.91×
• Total profit: $28,125
• Equity at exit: $2,535

10-year hold

• IRR: —
• Equity multiple: 14.50×
• Total profit: $64,268
• Equity at exit: $1,470

Cash invested: $4,760 (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 35904

• Home prices YoY: -17.1%
• Active inventory: 88
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $750 medium
• Mortgage (P&I): −$89
• Tax from tax record: −$12 /mo · $138/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $485

Break-even live

Break-even rent $136

Max offer price $17,000

Occupancy floor 30%

Sensitivity live

Price	-10% $494	-5% $490	+0% $485	+5% $480	+10% $475
Rent	-10% $426	-5% $455	+0% $485	+5% $514	+10% $544
Rate	-1.0pp $493	-0.5pp $489	base $485	+0.5pp $480	+1.0pp $476

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: $4,250
• Closing costs: $510
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 W Tuscaloosa Ave Gadsden, AL	2.0	1.0	1056	$750	$0.71	45d	1	0.66mi
504 Pearl St Gadsden, AL	2.0	1.0	903	$750	$0.83	45d	1	1.09mi

Listing history 3 events

1. 2026-04-12
   status Pending
2. 2026-04-10
   listed $17,000 Active
3. 2026-01-24
   listed $17,000 Active

ⓘ 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: $138 · $12/mo
• Projected year-2 tax: $138 · $12/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,000
• − Mortgage interest: −$952
• − Property taxes: −$138
• − Insurance: −$85
• − Repairs & maintenance: −$720
• − Management: −$720
• − Depreciation: −$495
• Taxable income: $5,890
• Est. tax owed @ 24.0%: −$1,414
• After-tax cash flow: $4,403/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 13,571

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.06%
• Current HPI: 213.3981
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-12 Pending — VMLS
• 2026-04-10 Listed $17,000 VMLS
• 2026-01-24 Listed $17,000 VMLS

Property tax history

+0.9%/yr

Latest (2025): $138 · +0.0% YoY. Source: county tax records.