2008 3rd Ave · Selma, AL 36703

$59,900

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 703 Days on market

Built 1970 0.52 ac lot $41/sqft · 59% above area ↓ 8% 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

Key facts

• 0.52 acre lot
• Parking
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 7.5% in Selma — 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 56/100 on livability (#407 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B; Watch: schools F, crime F, amenities F.
• Selma City (town): math 2% / reading 23% proficiency, ranked #118 of 129 in AL (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 84% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7 units permitted in Dallas County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($414 loan paydown + $6k appreciation (10.0% local appreciation)).
• Dallas County population projected at -36% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 703 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 703 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 1970 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.55% ✓
• Cap rate: 12.70%
• Cash-on-cash: 22.89%
• DSCR: 2.02
• GRM: 5.4

CMA / ARV

• ARV (median comp): $37,658
• List price: $59,900
• Delta: 59.06%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1313 Saint Phillips St	0.60mi	3/2.0	1,563 (+8%)	17mo	$20,000	$13	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.5%
• Equity multiple: 4.16×
• Total profit: $53,015
• Equity at exit: $53,963

10-year hold

• IRR: 35.8%
• Equity multiple: 9.35×
• Total profit: $140,124
• Equity at exit: $116,373

Cash invested: $16,772 (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 36703

• Home prices YoY: 13.2%
• Active inventory: 52
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $320

Break-even live

Break-even rent $524

Max offer price $59,900

Occupancy floor 61%

Sensitivity live

Price	-10% $361	-5% $341	+0% $320	+5% $299	+10% $279
Rent	-10% $247	-5% $283	+0% $320	+5% $357	+10% $393
Rate	-1.0pp $350	-0.5pp $335	base $320	+0.5pp $304	+1.0pp $289

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Cloverdale Rd Selma, AL	2.0–3.0	1.5–2.5	1204	$929	$0.77	21d	1	1.03mi

Listing history 22 events

1. 2026-06-19
   days on market $59,900 Active 703 DOM
2. 2026-06-18
   days on market $59,900 Active 702 DOM
3. 2026-06-17
   days on market $59,900 Active 701 DOM
4. 2026-06-16
   days on market $59,900 Active 700 DOM
5. 2026-06-15
   days on market $59,900 Active 699 DOM
6. 2026-06-14
   days on market $59,900 Active 697 DOM
7. 2026-06-12
   days on market $59,900 Active 696 DOM
8. 2026-06-09
   days on market $59,900 Active 693 DOM
9. 2026-06-08
   days on market $59,900 Active 692 DOM
10. 2026-06-07
    days on market $59,900 Active 691 DOM
11. 2026-06-07
    days on market $59,900 Active 690 DOM
12. 2026-06-04
    days on market $59,900 Active 687 DOM
13. 2026-06-02
    days on market $59,900 Active 686 DOM
14. 2026-06-01
    days on market $59,900 Active 685 DOM
15. 2026-05-31
    days on market $59,900 Active 684 DOM
16. 2026-05-31
    days on market $59,900 Active 683 DOM
17. 2026-02-02
    price $59,900 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

18. 2025-11-18
    status Active 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

19. 2025-06-15
    historical Contingent 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

20. 2025-06-12
    status Active 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

21. 2024-07-17
    historical Contingent 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

22. 2024-07-16
    listed $64,900 Active 1085-char remark

    Show marketing remark (1085 chars)

    Welcome to your next home! This charming 3-bedroom, 1-bathroom home has just over 1400 sqft of potential, nestles on a desirable corner lot. With good bones and a solid foundation, this house is ready for your personal touch and vision! The spacious living room is filled with natural light, providing a warm and inviting space to relax and entertain. The kitchen, though in need of updating, offers ample space for a modern makeover. Imagine creating your own dream culinary space! Each of the 3 bedrooms offers a comfortable retreat, just waiting for your creative updated. The current single bathroom is functional, but there is ample room to add a second bathroom, enhancing both convivence and value. Situated on a corner lot, the property provides a sufficient amount of outdoor space, perfect for gardening, entertaining, or simply enjoying the Alabama sunshine! If you're looking for a home with great potential, this is your opportunity to create something special! Bring your ideas and make this house your dream home!! Call your favorite realtor today to view the property!!

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,148
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$892
• − Management: −$892
• − Depreciation: −$1,743
• Taxable income: $3,068
• Est. tax owed @ 24.0%: −$736
• After-tax cash flow: $3,103/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: Selma City
• NCES district ID: 0102970
• Math proficiency: 2% ▼ -24.00%
• Reading proficiency: 23% ▼ -2.00%
• Median HH income: $23,380
• Composite: 9.07/100
• National rank: #9870
• State rank: #118 of 129 in AL

Livability — Selma

• Score: 56/100
• State rank: #407
• US rank: #22550

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Selma, AL
• Population (ZIP): 9,489

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 35,464 people
• By 2030: 32,631 · -8.0%
• By 2040: 27,246 · -23.2%
• By 2050: 22,691 · -36.0%
• By 2075: 14,867 · -58.1%
• By 2100: 10,285 · -71.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (69%)
• Race & ethnicity: Black 69% White 26% Two or more races 3%
• Common ancestry: Serbian 1% Iranian 1%
• Foreign-born: 1%

Political lean MEDSL · Dallas

• 2024 margin: Solid D (+32.5) · D 65.9% · R 33.4%
• 2008→2024 swing: -2.0pp toward R · 2008: 34.5pp · 2024: 32.5pp
• All cycles: 2024: D+32.5 2020: D+37.5 2016: D+37.6 2012: D+39.7 2008: D+34.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.24%
• Current HPI: 164.88
• 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

-7.7% since first listed

6 events — show timeline

• 2026-02-02 Price Changed $59,900 MAAR
• 2025-11-18 Relisted — MAAR
• 2025-06-15 Contingent — MAAR
• 2025-06-12 Relisted — MAAR
• 2024-07-17 Contingent — MAAR
• 2024-07-16 Listed $64,900 MAAR