2815 Tallahassee St · Gadsden, AL 35904

$104,900

4 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 130 Days on market

Built 1935 7,405 sqft lot $81/sqft · 9% below area Est $116k · 9% under

---

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 +24.6/30.0
• ARV discount +11.7/15.0
• DSCR +7.9/10.0
• 1% rule +6.4/10.0
• 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 MLS

INVESTORS!! South Gadsden --This brick Home features 4BR/1BA, living room, dining room, kitchen & large laundry. Covered front porch. Storage building out back. Home comes with vacant lot next door. Needs some TLC but would be a great rental!

Key facts

• Covered front porch
• Storage building
• Brick home

Tags

• BRICK HOME
• COVERED FRONT PORCH
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Walnut Park Elementary School (math 8% / reading 37%, grade F, #437 of 627 statewide, top 70%, 205 students, 91% 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 84% FRL vs 66% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 88 active listings in the ZIP; 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 $725 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1935 — 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. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.83%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $115,770
• List price: $104,900
• Delta: -9.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2918 Hickory St	0.18mi	3/1.0 (-1)	1,410 (+9%)	13mo	$96,000	$68	61
1315 Colbert Ave	0.31mi	4/2.0	1,385 (+7%)	12mo	$115,000	$83	59
1613 Mount Zion Ave	0.41mi	3/2.0 (-1)	1,351 (+5%)	13mo	$134,900	$100	54
1109 Central Ave	0.12mi	3/1.0 (-1)	1,432 (+11%)	22mo	$140,000	$98	53
3800 S 11th St	0.50mi	3/1.0 (-1)	1,170 (-9%)	10mo	$47,500	$41	48
1820 Mount Zion Ave	0.62mi	3/1.0 (-1)	1,140 (-12%)	8mo	$136,000	$119	40
2708 S 11th St	0.65mi	3/2.0 (-1)	1,148 (-11%)	8mo	$129,900	$113	36
1808 Piedmont Ave	0.64mi	3/2.0 (-1)	1,157 (-10%)	13mo	$130,000	$112	33

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,212
• Equity at exit: $15,641

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $15,005
• Equity at exit: $9,070

Cash invested: $29,372 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,191 medium
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $216

Break-even live

Break-even rent $918

Max offer price $104,900

Occupancy floor 77%

Sensitivity live

Price	-10% $289	-5% $252	+0% $216	+5% $180	+10% $144
Rent	-10% $122	-5% $169	+0% $216	+5% $263	+10% $310
Rate	-1.0pp $269	-0.5pp $243	base $216	+0.5pp $189	+1.0pp $161

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $104,900 Active 130 DOM
2. 2026-06-19
   days on market $104,900 Active 128 DOM
3. 2026-06-18
   days on market $104,900 Active 127 DOM
4. 2026-06-17
   days on market $104,900 Active 126 DOM
5. 2026-06-16
   days on market $104,900 Active 125 DOM
6. 2026-06-15
   days on market $104,900 Active 124 DOM
7. 2026-06-14
   days on market $104,900 Active 122 DOM
8. 2026-06-12
   days on market $104,900 Active 121 DOM
9. 2026-06-09
   days on market $104,900 Active 118 DOM
10. 2026-06-08
    days on market $104,900 Active 117 DOM
11. 2026-06-07
    days on market $104,900 Active 116 DOM
12. 2026-06-07
    days on market $104,900 Active 115 DOM
13. 2026-06-04
    days on market $104,900 Active 112 DOM
14. 2026-06-02
    days on market $104,900 Active 111 DOM
15. 2026-06-01
    days on market $104,900 Active 110 DOM
16. 2026-05-31
    days on market $104,900 Active 109 DOM
17. 2026-05-31
    days on market $104,900 Active 108 DOM
18. 2026-02-11
    listed $104,900 Active 247-char remark

    Show marketing remark (247 chars)

    INVESTORS!! South Gadsden --This brick Home features 4BR/1BA, living room, dining room, kitchen & large laundry. Covered front porch. Storage building out back. Home comes with vacant lot next door. Needs some TLC but would be a great rental!

ⓘ 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 6/10 Major 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,295
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$1,144
• − Management: −$1,144
• − Depreciation: −$3,052
• Taxable income: $983
• Est. tax owed @ 24.0%: −$236
• After-tax cash flow: $2,358/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

1 event — show timeline

• 2026-02-11 Listed $104,900 VMLS