101 Palmera Dr · Addison, AL 35540

$137,500

3 bd · 1.0 ba · 1,425 sqft · SingleFamily public records · 227 Days on market

Built 1970 0.50 ac lot $96/sqft · 14% below area Est $160k · 14% under

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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 +14.2/30.0
• ARV discount +13.8/15.0
• Appreciation +8.0/10.0
• DSCR +4.3/10.0
• Livability +2.9/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

Key facts

• Fresh paint
• Centrally located
• Eat in kitchen

Tags

• CENTRALLY LOCATED
• FRESH PAINT
• NEW BATHROOM FLOORING
• EAT IN KITCHEN
• BRAND NEW STOVE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $23 ($282/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (22.1% below list).
• Recommended offer: $107k (22.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 58/100 on livability (#353 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Winston County (rural): math 13% / reading 39% proficiency, ranked #91 of 129 in AL (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 16 active listings in the ZIP; 1 units permitted in Winston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($951 loan paydown + $8k appreciation (5.9% local appreciation)).
• Winston County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.9% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago 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: major wind risk, 27% 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 $107,159 (22.1% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 22% 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 D-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 D 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: 0.78% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (median comp): $160,000
• List price: $137,500
• Delta: -14.06%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

5.94% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.8%
• Equity multiple: 2.06×
• Total profit: $40,635
• Equity at exit: $85,907

10-year hold

• IRR: 15.8%
• Equity multiple: 4.07×
• Total profit: $118,359
• Equity at exit: $155,332

Cash invested: $38,500 (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 35540

• Home prices YoY: 4.2%
• Active inventory: 16
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,072 medium
• Mortgage (P&I): −$721
• Tax from tax record: −$45 /mo · $537/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $23

Break-even live

Break-even rent $1,042

Max offer price $137,500

Occupancy floor 93%

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $137,500 Active 227 DOM
2. 2026-06-18
   days on market $137,500 Active 226 DOM
3. 2026-06-17
   days on market $137,500 Active 225 DOM
4. 2026-06-16
   days on market $137,500 Active 224 DOM
5. 2026-06-15
   days on market $137,500 Active 223 DOM
6. 2026-06-14
   days on market $137,500 Active 221 DOM
7. 2026-06-12
   days on market $137,500 Active 220 DOM
8. 2026-06-09
   days on market $137,500 Active 217 DOM
9. 2026-06-08
   days on market $137,500 Active 216 DOM
10. 2026-06-07
    days on market $137,500 Active 215 DOM
11. 2026-06-04
    days on market $137,500 Active 211 DOM
12. 2026-06-02
    days on market $137,500 Active 210 DOM
13. 2026-06-01
    days on market $137,500 Active 209 DOM
14. 2026-05-31
    days on market $137,500 Active 208 DOM
15. 2026-05-31
    days on market $137,500 Active 207 DOM
16. 2026-04-26
    status Active 245-char remark

    Show marketing remark (245 chars)

    This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

17. 2026-04-10
    historical Active Under Contract 245-char remark

    Show marketing remark (245 chars)

    This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

18. 2026-01-14
    price $137,500 245-char remark

    Show marketing remark (245 chars)

    This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

19. 2026-01-05
    price $140,500 245-char remark

    Show marketing remark (245 chars)

    This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

20. 2025-11-04
    listed $142,500 Active 245-char remark

    Show marketing remark (245 chars)

    This 3 bedroom home is perfect for a family or an investment property. It is centrally located in the heart of Addison. Close to grocery, school, church, and more. It has fresh paint, and new bathroom flooring. Don't miss out on this great home!

21. 2025-04-16
    soldstatus $138,500 Closed 138-char remark

    Show marketing remark (138 chars)

    Investment property or 1st time home buyers! 3 bed 1 bath located in the heart of Addison. Watch the July fireworks from your front yard!

22. 2025-02-16
    historical Active Under Contract 138-char remark

    Show marketing remark (138 chars)

    Investment property or 1st time home buyers! 3 bed 1 bath located in the heart of Addison. Watch the July fireworks from your front yard!

23. 2024-12-02
    price $149,800 138-char remark

    Show marketing remark (138 chars)

    Investment property or 1st time home buyers! 3 bed 1 bath located in the heart of Addison. Watch the July fireworks from your front yard!

24. 2024-10-07
    listed $149,900 Active 138-char remark

    Show marketing remark (138 chars)

    Investment property or 1st time home buyers! 3 bed 1 bath located in the heart of Addison. Watch the July fireworks from your front yard!

25. 2022-06-08
    soldstatus $90,000
26. 2022-06-02
    listed $90
27. 2022-06-02
    soldstatus $90,000
28. 2022-06-02
    soldstatus $90,000
29. 2022-03-19
    listed $94,900

ⓘ 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: $537 · $45/mo
• Projected year-2 tax: $564 · $47/mo
• Expected delta: +$27/yr (+$2/mo · 5.1%)

ⓘ 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 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,859
• − Mortgage interest: −$7,702
• − Property taxes: −$537
• − Insurance: −$688
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$4,000
• Taxable loss: −$2,124
• Est. tax savings @ 24.0%: +$510
• After-tax cash flow: $792/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: Winston County
• NCES district ID: 0103580
• Math proficiency: 13% ▼ -34.00%
• Reading proficiency: 39% ▼ -7.00%
• Median HH income: $35,471
• Composite: 21.39/100
• National rank: #8352
• State rank: #91 of 129 in AL

Livability — Addison

• Score: 58/100
• State rank: #353
• US rank: #20907

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Addison, AL
• Population (ZIP): 2,092

Population outlook (Winston County) Hauer SSP2

• Today (2025): 22,474 people
• By 2030: 21,568 · -4.0%
• By 2040: 19,710 · -12.3%
• By 2050: 17,950 · -20.1%
• By 2075: 14,468 · -35.6%
• By 2100: 11,554 · -48.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 3% Hispanic / Latino 1%
• Common ancestry: Subsaharan African 2% Italian 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Winston

• 2024 margin: Solid R (+83.6) · D 7.9% · R 91.6%
• 2008→2024 swing: -20.4pp toward R · 2008: -63.3pp · 2024: -83.6pp
• All cycles: 2024: R+83.6 2020: R+81.7 2016: R+81.5 2012: R+72.3 2008: R+63.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.94%
• Current HPI: 146.6085
• 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

+44.9% since first listed

14 events — show timeline

• 2026-04-26 Relisted — Walker County Area MLS
• 2026-04-10 Contingent — Walker County Area MLS
• 2026-01-14 Price Changed $137,500 Walker County Area MLS
• 2026-01-05 Price Changed $140,500 Walker County Area MLS
• 2025-11-04 Listed $142,500 Walker County Area MLS
• 2025-04-16 Sold (MLS) $138,500 Walker County Area MLS
• 2025-02-16 Contingent — Walker County Area MLS
• 2024-12-02 Price Changed $149,800 Walker County Area MLS
• 2024-10-07 Listed $149,900 Walker County Area MLS
• 2022-06-08 Sold (Public Records) $90,000 Public Records
• 2022-06-02 Listed $90 Walker County Area MLS
• 2022-06-02 Sold (MLS) $90,000 Greater Alabama MLS
• 2022-06-02 Sold (MLS) $90,000 Walker County Area MLS
• 2022-03-19 Listed $94,900 Greater Alabama MLS

Property tax history

+4.2%/yr

Latest (2025): $537 · +0.0% YoY. Source: county tax records.