402 W Myrtle Ave · Foley, AL 36535

$199,000

4 bd · 1.5 ba · 1,729 sqft · SingleFamily public records · 50 Days on market

Built 1970 0.32 ac lot Est $275k · 28% 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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.5/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

PROFESSIONAL PICS COMING SOON - SOLD AS IS - See BelowSituated on a spacious corner lot in the heart of Foley, this charming 3-bedroom, 2-bath home offers a rare combination of character, functionality, and convenience. Surrounded by mature landscaping, the inside, the home offers a warm and inviting layout with a cozy fireplace, granite countertops in the kitchen, and a gas stove ideal for cooking enthusiasts. The primary suite includes double closets, providing ample storage, while the additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy the beautifully designed screened porch with decorative stenciled concrete—an ideal space for relaxin

Key facts

• Double closets
• Gas stove
• Cozy fireplace

Tags

• CORNER LOT
• MATURE LANDSCAPING
• COZY FIREPLACE
• GRANITE COUNTERTOPS
• GAS STOVE
• DOUBLE CLOSETS

Property features AI

Finance

• Other: Property listed as whole/full ownership
• HOA & community: No transfer fees; No community amenities

Exterior

• Parking: Detached parking; Double carport (2 covered carport spaces)
• Utilities: Riviera Utilities; Cable connected; Electric heating
• Home design: One-story residence; Resale property
• Construction: Brick and other exterior materials; Metal roof; Storage/other structures on site
• Exterior features: Partial fencing; Covered, screened rear porch; Storage building/space; Corner lot; Less than 1 acre

Interior

• Kitchen: Dishwasher; Gas range; Refrigerator
• Bedrooms: Primary bedroom on the main/first floor with attached bath
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Primary bathroom with shower only
• Heating & cooling: Electric heating; Cable connected
• Interior features: Ceiling fans; En-suite; Living room fireplace (1)
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $193k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.0% in Foley — 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 61/100 on livability (#241 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: employment D+, amenities F, commute F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Foley Elementary School (math 22% / reading 44%, grade F, #323 of 627 statewide, top 52%, 992 students, 76% FRL); Foley Middle School (math 11% / reading 36%, grade F, #172 of 257 statewide, top 68%, 783 students, 82% FRL); Foley High School (math 24% / reading 25%, grade F, #118 of 305 statewide, top 45%, 1,578 students, 75% FRL) — zoned schools average 78% FRL vs 38% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 45% district-wide (-18 pts) — the specific schools serving this property underperform the Baldwin County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.8%/yr); 875 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 38% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $123k; list at $199k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.05% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $274,911
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 W Myrtle Ave	0.11mi	3/2.0 (-1)	1,814 (+5%)	9mo	$285,000	$157	73
641 S Pine St	0.33mi	3/2.0 (-1)	1,714 (-1%)	6mo	$300,000	$175	71
419 W Roosevelt Ave	0.21mi	3/2.0 (-1)	1,588 (-8%)	1mo	$297,000	$187	68
2 Magnolia Cir	0.56mi	3/2.0 (-1)	1,696 (-2%)	2mo	$252,000	$149	62
208 W Orange Ave	0.24mi	3/1.0 (-1)	1,549 (-10%)	9mo	$290,000	$187	57
422 W Orange Ave	0.12mi	3/2.0 (-1)	1,902 (+10%)	17mo	$195,000	$103	56
206 W Verbena Ave	0.25mi	3/2.5 (-1)	1,472 (-15%)	1mo	$273,500	$186	54
620 W Marigold Ave	0.67mi	3/1.0 (-1)	1,680 (-3%)	5mo	$254,900	$152	53
41 Magnolia Cir	0.62mi	3/2.0 (-1)	1,826 (+6%)	4mo	$259,000	$142	51
290 Ogden Ct	0.65mi	3/2.0 (-1)	1,548 (-10%)	3mo	$249,900	$161	43
273 Wyatt Ct	0.74mi	4/2.0	1,890 (+9%)	7mo	$275,000	$146	42
321 Wyatt Ct	0.74mi	3/2.0 (-1)	1,668 (-4%)	14mo	$265,000	$159	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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-9,214
• Equity at exit: $29,672

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $14,771
• Equity at exit: $17,206

Cash invested: $55,720 (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 36535

• Home prices YoY: -24.9%
• Rents YoY: 1.8%
• Active inventory: 875
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,097 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$129 /mo · $1,550/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $401

Break-even live

Break-even rent $1,589

Max offer price $199,000

Occupancy floor 76%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1802 Cashew Cir Foley, AL	2.0–5.0	2.0–2.5	1702	$2,318	$1.36	44d	1	0.27mi
525 W Rose Ave Unit Na Foley, AL	4.0	2.0	1692	$1,800	$1.06	44d	1	0.38mi
527 W Rose Ave Foley, AL	4.0	2.0	1700	$1,850	$1.09	44d	1	0.38mi
216 W Rose Ave Foley, AL	4.0	2.0	2000	$2,200	$1.10	44d	1	0.40mi
116 S Elm St Unit 116 Foley, AL	3.0	2.0	1125	$1,350	$1.20	44d	1	0.48mi
502 Meadow Ln Foley, AL	3.0	2.0	1438	$1,695	$1.18	44d	1	0.96mi
431 Hamilton Blvd Foley, AL	3.0	2.0	1351	$1,695	$1.25	21d	1	0.98mi
931 Gibson Ct Foley, AL	3.0	2.0	1648	$2,000	$1.21	13d	1	1.14mi
1349 Aldon St Foley, AL	3.0	2.0	1561	$1,900	$1.22	44d	1	1.17mi
825 Ginger Lee St Foley, AL	4.0	2.0	1848	$1,995	$1.08	44d	1	1.22mi
300 E Lawson Ave Foley, AL	1.0–3.0	1.0–2.0	1054	$1,510	$1.43	13d	1	1.29mi
1487 Majesty Loop Foley, AL	4.0	2.0	1820	$2,200	$1.21	13d	1	1.43mi
1481 Majesty Loop Foley, AL	4.0	2.0	1820	$2,200	$1.21	13d	1	1.44mi
1701 Woodbridge Cir E Foley, AL	3.0	2.0	1622	$2,000	$1.23	13d	1	1.50mi

Listing history 8 events

1. 2026-05-19
   status Active
2. 2026-04-10
   historical Active Under Contract
3. 2026-04-09
   listed $199,000 Active
4. 2017-06-09
   listed $139,000
5. 2016-12-16
   listed $129,000
6. 2014-09-05
   soldstatus $123,173
7. 2014-09-03
   soldstatus $122,900
8. 2014-04-22
   listed $122,900

ⓘ 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: $1,550 · $129/mo
• Projected year-2 tax: $1,550 · $129/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,169
• − Mortgage interest: −$11,147
• − Property taxes: −$1,550
• − Insurance: −$995
• − Repairs & maintenance: −$2,014
• − Management: −$2,014
• − Depreciation: −$5,789
• Taxable income: $1,660
• Est. tax owed @ 24.0%: −$398
• After-tax cash flow: $4,417/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Foley

• Score: 61/100
• State rank: #241
• US rank: #17616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Foley, AL
• County: Baldwin County · 181,514 people
• City population: 40,628
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 40,628
• Household income: $66,714
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 803.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.82%
• Current HPI: 262.2796
• Rent YoY: ▲ 1.81%
• Metro: Daphne-Fairhope-Foley, 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

+61.9% since first listed

8 events — show timeline

• 2026-05-19 Relisted — BCAR
• 2026-04-10 Contingent — BCAR
• 2026-04-09 Listed $199,000 BCAR
• 2017-06-09 Listed $139,000 BCAR
• 2016-12-16 Listed $129,000 BCAR
• 2014-09-05 Sold (Public Records) $123,173 Public Records
• 2014-09-03 Sold (MLS) $122,900 BCAR
• 2014-04-22 Listed $122,900 BCAR

Property tax history

+7.4%/yr

Latest (2025): $1,550 · +5.3% YoY. Source: county tax records.