904 La Dayne Ave · Selma, AL 36701

$76,900

4 bd · 1.0 ba · 1,614 sqft · SingleFamily public records · 71 Days on market

Built 1964 0.28 ac lot $48/sqft · 31% below area Est $111k · 31% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in Selma! This 4-bedroom, 2-bath home offers living space on a . 28-acre lot with a spacious backyard. Perfect as a fixer-upper or for someone looking to personalize and make it their own, this property has plenty of potential. Don’t miss your chance to create the home you’ve been envisioning!

Key facts

• 0.28 acre lot
• Garage
• Built 1964

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $77k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $77k).
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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: 104 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

• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dallas County population projected at -36% 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 $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $18k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $72,286 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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: 1.21% ✓
• Cap rate: 10.28%
• Cash-on-cash: 14.24%
• DSCR: 1.63
• GRM: 6.9

CMA / ARV

• ARV (median comp): $111,191
• List price: $76,900
• Delta: -30.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Columbus Dr	0.28mi	3/2.0 (-1)	1,703 (+6%)	1mo	$130,000	$76	67
519 Columbus Dr	0.23mi	3/2.0 (-1)	1,398 (-13%)	11mo	$132,000	$94	49
707 King Ln	0.32mi	3/2.0 (-1)	1,375 (-15%)	11mo	$94,000	$68	42
325 Crestwood Dr	0.60mi	3/1.5 (-1)	1,452 (-10%)	11mo	$90,000	$62	39
2116 Elkdale St	0.65mi	3/2.0 (-1)	1,472 (-9%)	15mo	$60,000	$41	34
228 Mcdonald Ave	0.74mi	3/2.0 (-1)	1,520 (-6%)	16mo	$42,500	$28	33
409 Woodrow Ave	0.60mi	3/2.0 (-1)	1,400 (-13%)	14mo	$80,000	$57	30
326 Woodrow Ave	0.64mi	4/2.0	1,375 (-15%)	20mo	$32,500	$24	25
401 Woodrow Ave	0.65mi	3/2.0 (-1)	1,380 (-14%)	21mo	$70,000	$51	19

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: 4.6%
• Equity multiple: 1.18×
• Total profit: $3,796
• Equity at exit: $11,466

10-year hold

• IRR: 14.0%
• Equity multiple: 2.12×
• Total profit: $24,187
• Equity at exit: $6,649

Cash invested: $21,532 (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 36701

• Home prices YoY: -6.3%
• Active inventory: 104
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$403
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $256

Break-even live

Break-even rent $606

Max offer price $76,900

Occupancy floor 67%

Sensitivity live

Price	-10% $299	-5% $277	+0% $256	+5% $234	+10% $212
Rent	-10% $182	-5% $219	+0% $256	+5% $292	+10% $329
Rate	-1.0pp $294	-0.5pp $275	base $256	+0.5pp $236	+1.0pp $215

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: $19,225
• Closing costs: $2,307
• 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	0.47mi

Listing history 23 events

1. 2026-06-17
   days on market $76,900 Active 71 DOM
2. 2026-06-16
   days on market $76,900 Active 70 DOM
3. 2026-06-15
   days on market $76,900 Active 69 DOM
4. 2026-06-14
   days on market $76,900 Active 67 DOM
5. 2026-06-12
   days on market $76,900 Active 66 DOM
6. 2026-06-09
   days on market $76,900 Active 63 DOM
7. 2026-06-08
   days on market $76,900 Active 62 DOM
8. 2026-06-07
   days on market $76,900 Active 61 DOM
9. 2026-06-07
   days on market $76,900 Active 60 DOM
10. 2026-06-04
    days on market $76,900 Active 57 DOM
11. 2026-06-02
    days on market $76,900 Active 56 DOM
12. 2026-06-01
    days on market $76,900 Active 55 DOM
13. 2026-05-31
    days on market $76,900 Active 54 DOM
14. 2026-05-31
    days on market $76,900 Active 53 DOM
15. 2026-05-06
    price $79,900 324-char remark

    Show marketing remark (324 chars)

    Great opportunity in Selma! This 4-bedroom, 2-bath home offers living space on a . 28-acre lot with a spacious backyard. Perfect as a fixer-upper or for someone looking to personalize and make it their own, this property has plenty of potential. Don’t miss your chance to create the home you’ve been envisioning!

16. 2026-04-27
    price $82,900 324-char remark

    Show marketing remark (324 chars)

    Great opportunity in Selma! This 4-bedroom, 2-bath home offers living space on a . 28-acre lot with a spacious backyard. Perfect as a fixer-upper or for someone looking to personalize and make it their own, this property has plenty of potential. Don’t miss your chance to create the home you’ve been envisioning!

17. 2026-04-21
    price $87,900 324-char remark

    Show marketing remark (324 chars)

    Great opportunity in Selma! This 4-bedroom, 2-bath home offers living space on a . 28-acre lot with a spacious backyard. Perfect as a fixer-upper or for someone looking to personalize and make it their own, this property has plenty of potential. Don’t miss your chance to create the home you’ve been envisioning!

18. 2026-04-07
    listed $95,000 Active 324-char remark

    Show marketing remark (324 chars)

    Great opportunity in Selma! This 4-bedroom, 2-bath home offers living space on a . 28-acre lot with a spacious backyard. Perfect as a fixer-upper or for someone looking to personalize and make it their own, this property has plenty of potential. Don’t miss your chance to create the home you’ve been envisioning!

19. 2026-01-12
    status Active
20. 2025-09-17
    listed $95,000 Active
21. 2021-02-15
    listed $109,000
22. 2020-11-02
    listed $120,500
23. 2017-08-04
    listed $27,900

ⓘ 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: $517 · $43/mo
• Projected year-2 tax: $517 · $43/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 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 4/10 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: −$4,308
• − Property taxes: −$517
• − Insurance: −$384
• − Repairs & maintenance: −$892
• − Management: −$892
• − Depreciation: −$2,237
• Taxable income: $1,918
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $2,606/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): 22,358

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 28% Hispanic / Latino 2%
• Common ancestry: Serbian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 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: ▼ -11.98%
• Current HPI: 176.6034
• 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

+186.4% since first listed

9 events — show timeline

• 2026-05-06 Price Changed $79,900 MAAR
• 2026-04-27 Price Changed $82,900 MAAR
• 2026-04-21 Price Changed $87,900 MAAR
• 2026-04-07 Listed $95,000 MAAR
• 2026-01-12 Relisted — MAAR
• 2025-09-17 Listed $95,000 MAAR
• 2021-02-15 Listed $109,000 MAAR
• 2020-11-02 Listed $120,500 WAMLS
• 2017-08-04 Listed $27,900 MAAR

Property tax history

+13.6%/yr

Latest (2021): $517 · +0.0% YoY. Source: county tax records.