206 Memorial Dr NW · Decatur, AL 35601

$120,000

3 bd · 1.0 ba · 952 sqft · SingleFamily public records · 12 Days on market

Built 1944 8,276 sqft lot Est $131k · 9% 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 +21.1/30.0
• ARV discount +11.4/15.0
• DSCR +6.7/10.0
• 1% rule +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors and first time home buyers listen up! Welcome to 206 Memorial DR NW in Decatur! This classic home offers a manageable sized home and lot with everything needed for an easily upgraded first home or rental/investment property. Centrally located to Beltline and downtown!

Key facts

• Near dining
• Near shopping
• Large backyard

Tags

• LARGE BACKYARD
• CENTRALLY LOCATED
• NEAR SHOPPING
• NEAR DINING
• NEAR RIVER

Property features AI

Finance

• Other: Subdivision: Metes And Bounds
• HOA & community: No homeowners association

Exterior

• Parking: Concrete driveway
• Utilities: Public water; Public sewer; Electric service (implied)
• Home design: Single-family residence; One story; Built in 1944; Living area of 952 square feet; Vinyl siding
• Construction: Vinyl siding construction; Built in 1944
• Exterior features: Public water; Public sewer; Lot of about 0.19 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Multiple window air conditioning units (2+)
• Interior features: 7 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/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 $112k (7.0% below list).
• Recommended offer: $112k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eastwood Elementary School (math 42% / reading 62%, grade C-, #102 of 627 statewide, top 17%, 252 students, 39% FRL); Decatur Middle School (math 17% / reading 36%, grade F, #150 of 257 statewide, top 60%, 815 students, 77% FRL); Decatur High School (math 27% / reading 27%, grade F, #90 of 305 statewide, top 35%, 1,040 students, 67% FRL) — zoned schools at 61% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 225 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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.
• Current owner paid $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; moderate wind risk, 23% 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 $111,579 (7.0% below list)

Questions for the listing agent

1. Built in 1944 — 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. 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?
4. 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.
5. 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.
6. 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: 0.93% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.10%
• DSCR: 1.27
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $131,376
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 8th Ave NW	0.10mi	3/1.0	973 (+2%)	3mo	$128,000	$132	89
409 10th Ave SW	0.33mi	3/1.0	906 (-5%)	1mo	$107,500	$119	76
301 8th Ave NW	0.11mi	2/1.0 (-1)	857 (-10%)	5mo	$124,900	$146	69
403 NW 14th Ave	0.46mi	3/1.0	1,000 (+5%)	9mo	$138,000	$138	62
217 8th Ave SW	0.23mi	2/1.0 (-1)	1,082 (+14%)	0mo	$59,900	$55	61
223 12th Ave SW	0.36mi	2/2.0 (-1)	1,004 (+6%)	7mo	$163,500	$163	59
304 Memorial Dr	0.11mi	2/1.0 (-1)	821 (-14%)	14mo	$111,200	$135	55
112 6th Ave NW	0.22mi	2/1.0 (-1)	858 (-10%)	16mo	$103,900	$121	55
216 8th Ave NW	0.09mi	2/1.0 (-1)	832 (-13%)	22mo	$123,000	$148	52
401 5th Ave SW	0.38mi	2/1.0 (-1)	1,022 (+7%)	21mo	$142,800	$140	47
523 12th Ave NW	0.49mi	2/1.0 (-1)	1,064 (+12%)	8mo	$150,100	$141	46
608 7th Ave SW	0.45mi	2/1.0 (-1)	1,088 (+14%)	11mo	$94,000	$86	41

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -5.3%
• Equity multiple: 0.80×
• Total profit: $-6,723
• Equity at exit: $17,892

10-year hold

• IRR: 6.0%
• Equity multiple: 1.48×
• Total profit: $16,010
• Equity at exit: $10,375

Cash invested: $33,600 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 225
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$629
• Tax from tax record: −$31 /mo · $378/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $171

Break-even live

Break-even rent $900

Max offer price $120,000

Occupancy floor 80%

Sensitivity live

Price	-10% $239	-5% $205	+0% $171	+5% $137	+10% $103
Rent	-10% $83	-5% $127	+0% $171	+5% $215	+10% $259
Rate	-1.0pp $231	-0.5pp $201	base $171	+0.5pp $140	+1.0pp $108

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 8th Ave NW Decatur, AL	3.0	1.0	973	$1,125	$1.16	44d	1	0.12mi
516 Ferry St NE Decatur, AL	2.0	1.0	900	$1,150	$1.28	24d	1	0.97mi
1050 Harborview Dr NE Decatur, AL	1.0–2.0	1.0–2.0	790	$1,305	$1.65	15d	7	1.09mi
213 Wilson St NE Unit 4 Decatur, AL	2.0	1.0	975	$700	$0.72	24d	1	1.12mi
213 Wilson St NE Unit 2 Decatur, AL	2.0	1.0	975	$875	$0.90	24d	1	1.12mi
227 8th St SW Unit 19 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	1.27mi
1208 2nd Ave SW Unit 1208 28 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	1.29mi
818 Grant St SE Decatur, AL	2.0	1.0	910	$1,300	$1.43	44d	1	1.29mi
1220 2nd Ave SW Unit 2nd 7 Decatur, AL	2.0	1.0	850	$825	$0.97	44d	1	1.33mi
1018 Grant St SE Unit 1018-4 Decatur, AL	2.0	1.0	890	$775	$0.87	44d	1	1.44mi
1018 Grant St SE Unit 1026-4 Decatur, AL	2.0	1.0	890	$800	$0.90	44d	1	1.44mi

Listing history 10 events

1. 2026-06-21
   days on market $120,000 Active 12 DOM
2. 2026-06-19
   days on market $120,000 Active 10 DOM
3. 2026-06-18
   days on market $120,000 Active 9 DOM
4. 2026-06-17
   days on market $120,000 Active 8 DOM
5. 2026-06-16
   days on market $120,000 Active 7 DOM
6. 2026-06-15
   days on market $120,000 Active 6 DOM
7. 2026-06-14
   days on market $120,000 Active 4 DOM
8. 2026-06-13
   days on market $120,000 Active 3 DOM
9. 2026-06-10
   remarks 170-char remark
10. 2026-06-10
    listed $120,000 Active 1 DOM

ⓘ 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: $378 · $31/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$114/yr (+$10/mo · 30.2%)

ⓘ 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) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $13,389
• − Mortgage interest: −$6,722
• − Property taxes: −$378
• − Insurance: −$600
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$3,491
• Taxable income: $57
• Est. tax owed @ 24.0%: −$14
• After-tax cash flow: $2,035/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, AL
• 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

+29.7% since first listed

11 events — show timeline

• 2026-06-09 Listed $120,000 VMLS
• 2025-04-22 Rental Removed $1,000 VMLS
• 2025-04-15 Listed for Rent $1,000 VMLS
• 2021-12-20 Sold (Public Records) $75,000 Public Records
• 2021-12-19 Sold (MLS) $75,000 Greater Alabama MLS
• 2021-12-17 Sold (MLS) $75,000 SAARMLS
• 2021-12-07 Delisted — Greater Alabama MLS
• 2021-10-26 Price Changed $85,000 Greater Alabama MLS
• 2021-10-26 Price Changed $89,000 Greater Alabama MLS
• 2021-10-06 Listed $85,000 SAARMLS
• 2021-10-05 Listed $92,500 Greater Alabama MLS

Property tax history

+6.5%/yr

Latest (2025): $378 · +0.0% YoY. Source: county tax records.