602 Oak St · Talladega, AL 35160

$83,500

3 bd · 2.0 ba · 1,534 sqft · SingleFamily public records · 6 Days on market

Built 1962 0.29 ac lot $54/sqft · 42% below area Est $144k · 42% under ↓ 24% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming full brick home in a perfect location. This home is close to shopping and within walking distance to schools. This home comes with 3 bedroom, 2 full baths, living room, dining room/den, kitchen with refrigerator, electric cook top, oven, pantry, laundry in kitchen comes with washer & dryer. Detached 2 car garage/workshop, swimming pool with concrete patio area, fenced in back yard also surrounding the pool area with beautiful trees for plenty of shade, Hard wood floors and hardwood under existing carpet. Call today for your private viewing.

Key facts

• 0.29 acre lot
• Pool
• Built 1962

Property features AI

Finance

• Other: Parcel ID available

Exterior

• Parking: Detached parking; Driveway parking
• Utilities: Public water; Septic system; Electric water heater; Internet service availability unknown
• Home design: Existing home; 4-side brick construction
• Construction: Crawl space foundation
• Exterior features: Private in-ground personal pool; Not waterfront; No patio, deck, or garden/patio listed; Flood plain: No; Lot has no notable view

Interior

• Kitchen: Laminate countertops
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms with tub/shower combo
• Heating & cooling: Central heating; Central cooling
• Interior features: Ceilings: Other (see remarks); No additional interior features listed
• Laundry & utility: Laundry located on the main level in a closet; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 11.2% vs local median 4.8% in Talladega — 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 (#327 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, health & safety A-; Watch: crime F, amenities F, commute F.
• Talladega City (rural): math 7% / reading 25% proficiency, ranked #114 of 129 in AL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Talladega High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 446 students, 84% FRL).
• Zoned-school proficiency averages 2% at this address vs 16% district-wide (-14 pts) — the specific schools serving this property underperform the Talladega City average; the district grade overstates school quality for this exact location.
• Market conditions: 170 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 189 units permitted in Talladega County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $577 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Talladega County population projected at -14% 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 $23k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 7y 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; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,500

Questions for the listing agent

1. Built in 1962 — 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. 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?
4. 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?
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: 1.29% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (median comp): $144,304
• List price: $83,500
• Delta: -42.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 North St	0.28mi	3/2.0	1,570 (+2%)	4mo	$142,000	$90	80
107 Hillside Dr	0.65mi	3/1.5	1,532 (-0%)	8mo	$185,500	$121	61
300 Johnson Ave S	0.15mi	3/2.0	1,368 (-11%)	17mo	$144,900	$106	61
112 Highland Cir	0.35mi	3/2.0	1,685 (+10%)	15mo	$95,000	$56	55
714 Central Ave	0.63mi	2/2.0 (-1)	1,575 (+3%)	12mo	$23,000	$15	52
204 Mary St	0.51mi	3/1.0	1,669 (+9%)	8mo	$20,000	$12	51
504 Cherry St	0.35mi	3/2.0	1,696 (+11%)	19mo	$147,900	$87	50
105 Crest Dr	0.73mi	2/2.0 (-1)	1,449 (-6%)	8mo	$94,500	$65	46
406 Brignoli St	0.71mi	3/1.0	1,366 (-11%)	2mo	$81,705	$60	42
811 Walnut St	0.68mi	3/1.0	1,440 (-6%)	15mo	$122,000	$85	41
701 Central Ave	0.56mi	3/1.0	1,314 (-14%)	15mo	$122,000	$93	33
712 Cherokee St	0.65mi	3/1.0	1,344 (-12%)	19mo	$124,500	$93	29

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: 8.9%
• Equity multiple: 1.35×
• Total profit: $8,163
• Equity at exit: $12,450

10-year hold

• IRR: 18.1%
• Equity multiple: 2.50×
• Total profit: $34,977
• Equity at exit: $7,220

Cash invested: $23,380 (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 35160

• Home prices YoY: -26.9%
• Active inventory: 170
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,081 medium
• Mortgage (P&I): −$438
• Tax from tax record: −$40 /mo · $482/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $341

Break-even live

Break-even rent $649

Max offer price $83,500

Occupancy floor 63%

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: $20,875
• Closing costs: $2,505
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Jemison St Talladega, AL	3.0	2.0	1490	$1,295	$0.87	43d	1	0.90mi
250 Picadilly Dr Unit 1- 8 Talladega, AL	2.0	2.0	1600	$995	$0.62	43d	1	1.11mi
515 Lawson St Talladega, AL	2.0	1.5	1169	$800	$0.68	43d	1	1.36mi

Listing history 7 events

1. 2026-05-05
   status Pending 250-char remark
2. 2026-04-28
   listed $83,500 Active 250-char remark
3. 2020-05-05
   soldstatus $95,000
4. 2020-05-01
   soldstatus $95,000 Sold 561-char remark

   Show marketing remark (561 chars)

   Charming full brick home in a perfect location. This home is close to shopping and within walking distance to schools. This home comes with 3 bedroom, 2 full baths, living room, dining room/den, kitchen with refrigerator, electric cook top, oven, pantry, laundry in kitchen comes with washer & dryer. Detached 2 car garage/workshop, swimming pool with concrete patio area, fenced in back yard also surrounding the pool area with beautiful trees for plenty of shade, Hard wood floors and hardwood under existing carpet. Call today for your private viewing.

5. 2020-03-16
   historical Contingent 561-char remark

   Show marketing remark (561 chars)

   Charming full brick home in a perfect location. This home is close to shopping and within walking distance to schools. This home comes with 3 bedroom, 2 full baths, living room, dining room/den, kitchen with refrigerator, electric cook top, oven, pantry, laundry in kitchen comes with washer & dryer. Detached 2 car garage/workshop, swimming pool with concrete patio area, fenced in back yard also surrounding the pool area with beautiful trees for plenty of shade, Hard wood floors and hardwood under existing carpet. Call today for your private viewing.

6. 2020-03-07
   price $95,000 561-char remark

   Show marketing remark (561 chars)

   Charming full brick home in a perfect location. This home is close to shopping and within walking distance to schools. This home comes with 3 bedroom, 2 full baths, living room, dining room/den, kitchen with refrigerator, electric cook top, oven, pantry, laundry in kitchen comes with washer & dryer. Detached 2 car garage/workshop, swimming pool with concrete patio area, fenced in back yard also surrounding the pool area with beautiful trees for plenty of shade, Hard wood floors and hardwood under existing carpet. Call today for your private viewing.

7. 2019-11-01
   listed $110,000 Active 561-char remark

   Show marketing remark (561 chars)

   Charming full brick home in a perfect location. This home is close to shopping and within walking distance to schools. This home comes with 3 bedroom, 2 full baths, living room, dining room/den, kitchen with refrigerator, electric cook top, oven, pantry, laundry in kitchen comes with washer & dryer. Detached 2 car garage/workshop, swimming pool with concrete patio area, fenced in back yard also surrounding the pool area with beautiful trees for plenty of shade, Hard wood floors and hardwood under existing carpet. Call today for your private viewing.

ⓘ 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: $482 · $40/mo
• Projected year-2 tax: $482 · $40/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°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: $12,969
• − Mortgage interest: −$4,677
• − Property taxes: −$482
• − Insurance: −$418
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$2,429
• Taxable income: $2,888
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $3,398/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: Talladega City
• NCES district ID: 0103150
• Math proficiency: 7% ▼ -19.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $30,107
• Composite: 12.63/100
• National rank: #9610
• State rank: #114 of 129 in AL

Livability — Talladega

• Score: 59/100
• State rank: #327
• US rank: #19965

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Talladega, AL
• Population (ZIP): 26,177

Population outlook (Talladega County) Hauer SSP2

• Today (2025): 78,905 people
• By 2030: 77,160 · -2.2%
• By 2040: 72,937 · -7.6%
• By 2050: 68,279 · -13.5%
• By 2075: 57,884 · -26.6%
• By 2100: 47,220 · -40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 49% Black 43% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Talladega

• 2024 margin: Solid R (+33.8) · D 32.9% · R 66.6%
• 2008→2024 swing: -15.3pp toward R · 2008: -18.5pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+25.5 2016: R+25.6 2012: R+16.0 2008: R+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -70.24%
• Current HPI: 190.5904
• 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

-24.1% since first listed

7 events — show timeline

• 2026-05-05 Pending — Greater Alabama MLS
• 2026-04-28 Listed $83,500 Greater Alabama MLS
• 2020-05-05 Sold (Public Records) $95,000 Public Records
• 2020-05-01 Sold (MLS) $95,000 Greater Alabama MLS
• 2020-03-16 Contingent — Greater Alabama MLS
• 2020-03-07 Price Changed $95,000 Greater Alabama MLS
• 2019-11-01 Listed $110,000 Greater Alabama MLS

Property tax history

+4.6%/yr

Latest (2025): $482 · +0.0% YoY. Source: county tax records.