2509 E 15th Ave · Sheffield, AL 35660

$24,900

3 bd · 2.0 ba · 1,938 sqft · SingleFamily public records · 245 Days on market

Built 1930 9,583 sqft lot $13/sqft · 81% below area ↓ 50% since listing

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property offers a large lot with a detached garage/workshop at the rear — perfect for anyone needing extra space.

Key facts

• Additional apartment
• Separate buildings
• Detached garage

Tags

• DETACHED GARAGE
• SEPARATE BUILDINGS
• ADDITIONAL APARTMENT
• OPPORTUNITY TO CUSTOMIZE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 55.6% vs local median 5.1% in Sheffield — 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 60/100 on livability (#312 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Sheffield City (suburban): math 12% / reading 34% proficiency, ranked #103 of 129 in AL (top 80%) — 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.
• Market conditions: 115 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; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y ago; this cycle's ask has dropped $25k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $21,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 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 1930 — 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. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 6.12% ✓
• Cap rate: 55.60%
• Cash-on-cash: 176.11%
• DSCR: 8.84
• GRM: 1.4

CMA / ARV

• ARV (median comp): $130,276
• List price: $24,900
• Delta: -80.89%
• 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
704 Annapolis Ave	0.21mi	3/3.0	2,040 (+5%)	3mo	$198,000	$97	75
507 Dover Ave	0.12mi	4/2.5 (+1)	1,800 (-7%)	1mo	$169,999	$94	75
410 N Atlanta Ave	0.24mi	3/2.0	1,843 (-5%)	8mo	$97,000	$53	74
909 Atlanta Ave	0.39mi	4/2.0 (+1)	1,900 (-2%)	11mo	$189,900	$100	64
3003 E 14th Ave	0.44mi	4/2.0 (+1)	1,845 (-5%)	6mo	$179,900	$98	61
809 N Columbia Ave	0.40mi	4/2.0 (+1)	1,840 (-5%)	14mo	$130,500	$71	56
804 N Nashville Ave	0.42mi	3/2.0	1,770 (-9%)	15mo	$158,000	$89	54
1107 Nashville Ave	0.57mi	2/1.5 (-1)	1,737 (-10%)	9mo	$135,900	$78	41
1912 31st St E	0.64mi	3/2.0	1,658 (-14%)	12mo	$145,000	$87	36
1513 E 34th St	0.74mi	3/2.0	1,685 (-13%)	13mo	$160,000	$95	33
1001 Sterling Blvd	0.74mi	3/2.0	1,736 (-10%)	19mo	$47,000	$27	32
1210 N Nashville Ave	0.62mi	3/1.0	1,685 (-13%)	17mo	$75,500	$45	31

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: —
• Equity multiple: 9.77×
• Total profit: $61,163
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 20.69×
• Total profit: $137,289
• Equity at exit: $2,153

Cash invested: $6,972 (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 35660

• Home prices YoY: -29.5%
• Active inventory: 115
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,524 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $1,023

Break-even live

Break-even rent $229

Max offer price $24,900

Occupancy floor 28%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3112 E 21st Ave Sheffield, AL	4.0	2.0	1890	$1,595	$0.84	43d	1	0.77mi
701 E 18th St Sheffield, AL	4.0	2.5	2000	$1,800	$0.90	43d	1	0.95mi
100 Brink Ct Sheffield, AL	2.0	2.0	1100	$899	$0.82	43d	5	0.95mi

Listing history 28 events

1. 2026-06-19
   days on market $24,900 Active 245 DOM
2. 2026-06-18
   days on market $24,900 Active 244 DOM
3. 2026-06-17
   days on market $24,900 Active 243 DOM
4. 2026-06-16
   days on market $24,900 Active 242 DOM
5. 2026-06-15
   days on market $24,900 Active 241 DOM
6. 2026-06-14
   days on market $24,900 Active 239 DOM
7. 2026-06-13
   days on market $24,900 Active 238 DOM
8. 2026-06-10
   days on market $24,900 Active 236 DOM
9. 2026-06-09
   days on market $24,900 Active 235 DOM
10. 2026-06-08
    days on market $24,900 Active 234 DOM
11. 2026-06-07
    days on market $24,900 Active 233 DOM
12. 2026-06-05
    days on market $24,900 Active 230 DOM
13. 2026-06-02
    days on market $24,900 Active 228 DOM
14. 2026-06-01
    days on market $24,900 Active 227 DOM
15. 2026-05-31
    days on market $24,900 Active 226 DOM
16. 2026-05-30
    days on market $24,900 Active 225 DOM
17. 2026-03-24
    price $24,900 124-char remark

    Show marketing remark (124 chars)

    This property offers a large lot with a detached garage/workshop at the rear — perfect for anyone needing extra space.

18. 2026-01-09
    price $29,000 124-char remark

    Show marketing remark (124 chars)

    This property offers a large lot with a detached garage/workshop at the rear — perfect for anyone needing extra space.

19. 2025-10-17
    listed $49,900 Active 124-char remark

    Show marketing remark (124 chars)

    This property offers a large lot with a detached garage/workshop at the rear — perfect for anyone needing extra space.

20. 2022-10-27
    soldstatus $30,000
21. 2010-05-07
    soldstatus $33,735
22. 2010-03-08
    listed $33,735
23. 2008-05-14
    listed $39,900
24. 2007-10-17
    listed $39,900
25. 2005-08-16
    listed $34,900
26. 2004-11-02
    listed $45,900
27. 2004-08-25
    listed $49,900
28. 2002-11-20
    listed $49,500

ⓘ 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: $475 · $40/mo
• Projected year-2 tax: $475 · $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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $18,285
• − Mortgage interest: −$1,395
• − Property taxes: −$475
• − Insurance: −$124
• − Repairs & maintenance: −$1,463
• − Management: −$1,463
• − Depreciation: −$724
• Taxable income: $12,641
• Est. tax owed @ 24.0%: −$3,034
• After-tax cash flow: $9,245/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: Sheffield City
• NCES district ID: 0103000
• Math proficiency: 12% ▼ -30.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $34,188
• Composite: 18.8/100
• National rank: #8866
• State rank: #103 of 129 in AL

Livability — Sheffield

• Score: 60/100
• State rank: #312
• US rank: #19366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield, AL
• City population: 9,385
• Population (ZIP): 9,385

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.23%
• Current HPI: 177.3226
• 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

-49.7% since first listed

12 events — show timeline

• 2026-03-24 Price Changed $24,900 SAARMLS
• 2026-01-09 Price Changed $29,000 SAARMLS
• 2025-10-17 Listed $49,900 SAARMLS
• 2022-10-27 Sold (MLS) $30,000 SAARMLS
• 2010-05-07 Sold (MLS) $33,735 SAARMLS
• 2010-03-08 Listed $33,735 SAARMLS
• 2008-05-14 Listed $39,900 SAARMLS
• 2007-10-17 Listed $39,900 SAARMLS
• 2005-08-16 Listed $34,900 SAARMLS
• 2004-11-02 Listed $45,900 SAARMLS
• 2004-08-25 Listed $49,900 SAARMLS
• 2002-11-20 Listed $49,500 SAARMLS

Property tax history

+9.7%/yr

Latest (2025): $475 · +11.9% YoY. Source: county tax records.