407 Laurel Ave · Selma, AL 36701

$68,000

3 bd · 1.0 ba · 1,673 sqft · SingleFamily public records · 1 Days on market

Built 1959 0.26 ac lot Est $87k · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• 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

Key facts

• 0.26 acre lot
• Parking
• Built 1959

Property features AI

Finance

• Financial info: Operating expenses: None (multi-unit field)

Exterior

• Parking: Attached carport with one carport space
• Security: Fire alarm
• Utilities: Cable available; Electricity available; Natural gas available; High-speed internet available; Public water; Public sewer
• Home design: One-story home
• Construction: Brick and wood siding exterior; Slab foundation
• Exterior features: Fully fenced yard; Storage structure; Level lot; Mature trees; Subdivision setting; Public paved road frontage

Interior

• Kitchen: Dishwasher; Electric range with smooth cooktop; Range hood; Refrigerator
• Bedrooms: Two bedrooms on the first floor
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Central electric heating; Central air conditioning; Ceiling fans
• Interior features: Blinds and window treatments; Breakfast bar
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $335 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($929 rent vs $68k).
• Cap rate 12.2% 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 $470 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,000

Questions for the listing agent

1. Built in 1959 — 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: 1.37% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $86,996
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Columbus Dr	0.32mi	3/2.0	1,703 (+2%)	1mo	$130,000	$76	77
2521 Nottingham Dr	0.29mi	3/2.0	1,872 (+12%)	7mo	$125,000	$67	57
210 9th Ave	0.48mi	4/2.0 (+1)	1,793 (+7%)	4mo	$102,000	$57	53
228 Mcdonald Ave	0.43mi	3/2.0	1,520 (-9%)	16mo	$42,500	$28	47
223 Mcdonald Ave	0.46mi	3/1.0	1,450 (-13%)	11mo	$75,000	$52	47
325 Crestwood Dr	0.53mi	3/1.5	1,452 (-13%)	11mo	$90,000	$62	42
1918 Church St	0.72mi	3/1.0	1,599 (-4%)	22mo	$6,000	$4	41
2116 Elkdale St	0.51mi	3/2.0	1,472 (-12%)	15mo	$60,000	$41	40
1108 9th Ave	0.74mi	2/2.0 (-1)	1,472 (-12%)	21mo	$17,000	$12	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: 13.6%
• Equity multiple: 1.54×
• Total profit: $10,304
• Equity at exit: $10,139

10-year hold

• IRR: 22.4%
• Equity multiple: 2.91×
• Total profit: $36,347
• Equity at exit: $5,879

Cash invested: $19,040 (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: 6.1×

Monthly cashflow live

• Estimated rent: $929 medium
• Mortgage (P&I): −$357
• Tax from tax record: −$14 /mo · $165/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $335

Break-even live

Break-even rent $505

Max offer price $68,000

Occupancy floor 59%

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: $17,000
• Closing costs: $2,040
• 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	1.01mi

Listing history 1 events

1. 2026-06-18
   listed $68,000 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: $165 · $14/mo
• Projected year-2 tax: $279 · $23/mo
• Expected delta: +$114/yr (+$10/mo · 69.4%)

ⓘ 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 8/10 Severe 7 d/yr ≥108°F today · 20 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: −$3,809
• − Property taxes: −$165
• − Insurance: −$340
• − Repairs & maintenance: −$892
• − Management: −$892
• − Depreciation: −$1,978
• Taxable income: $3,072
• Est. tax owed @ 24.0%: −$737
• After-tax cash flow: $3,286/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

1 event — show timeline

• 2026-06-18 Listed $68,000 MAAR

Property tax history

+1.3%/yr

Latest (2021): $165 · +0.0% YoY. Source: county tax records.