202 Somerville Rd Unit SE · Decatur, AL 35601

$250,000

8 bd · 4.0 ba · 3,200 sqft · MultiFamily · 514 Days on market

Built 1956 Good condition 6,969 sqft lot $78/sqft · 37% below area Est $397k · 37% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.4/10.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

PORTFOLIO SALE ONLY: This is an estate sale, not available individually. There are three 4-plexes and one duplex making a 14-unit portfolio with package price of $1,450,000. All properties are occupied and in good condition, no deferred maintenance, located conveniently near shopping and restaurants. Package includes four addresses: 1816 Glenn Street, 1803 Graymont Lane, 1809 Windover Place, and 202 Somerville Road in Decatur Alabama. No showings until under contract. Please do not disturb the tenants. Tenants pay electric, water, trash.

Key facts

• 6,969 sq ft lot
• 4 parking spots
• Built 1956

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/?-bath units multifamily listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $725 ($9k/yr) — positive. Per door: $363/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: schools C-, employment D+, crime 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.
• Market conditions: Rents rising fast (+4.7%/yr); 225 active listings in the ZIP; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• At $3,105/mo this rent would consume 72% of the median local household income ($51k/yr) (locally 1386% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $70k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 514 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 514 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.43%
• DSCR: 1.55
• GRM: 6.7

CMA / ARV

• ARV (median comp): $397,254
• List price: $250,000
• Delta: -37.07%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 Grant St SE #4	0.10mi	8/4.0	3,528 (+10%)	17mo	$445,000	$126	64

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: 4.0%
• Equity multiple: 1.16×
• Total profit: $11,032
• Equity at exit: $37,276

10-year hold

• IRR: 15.0%
• Equity multiple: 2.31×
• Total profit: $91,796
• Equity at exit: $21,615

Cash invested: $70,000 (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: 13.4×

Monthly cashflow live

• Estimated rent: $3,105 high
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$652
• Net cashflow: $725

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 72%

Sensitivity live

Price	-10% $898	-5% $812	+0% $725	+5% $639	+10% $552
Rent	-10% $480	-5% $603	+0% $725	+5% $848	+10% $971
Rate	-1.0pp $851	-0.5pp $789	base $725	+0.5pp $660	+1.0pp $595

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	—	$3,104
Total (2 units)			$3,105

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $250,000 Active 514 DOM
2. 2026-06-19
   days on market $250,000 Active 512 DOM
3. 2026-06-18
   days on market $250,000 Active 511 DOM
4. 2026-06-17
   days on market $250,000 Active 510 DOM
5. 2026-06-16
   days on market $250,000 Active 509 DOM
6. 2026-06-15
   days on market $250,000 Active 508 DOM
7. 2026-06-14
   days on market $250,000 Active 506 DOM
8. 2026-06-13
   days on market $250,000 Active 505 DOM
9. 2026-06-10
   days on market $250,000 Active 503 DOM
10. 2026-06-09
    days on market $250,000 Active 502 DOM
11. 2026-06-08
    days on market $250,000 Active 501 DOM
12. 2026-06-07
    days on market $250,000 Active 500 DOM
13. 2026-06-05
    days on market $250,000 Active 497 DOM
14. 2026-06-03
    days on market $250,000 Active 496 DOM
15. 2026-06-02
    days on market $250,000 Active 495 DOM
16. 2026-06-01
    days on market $250,000 Active 494 DOM
17. 2026-05-31
    days on market $250,000 Active 493 DOM
18. 2026-05-30
    days on market $250,000 Active 492 DOM
19. 2025-11-13
    price $250,000 544-char remark

    Show marketing remark (544 chars)

    PORTFOLIO SALE ONLY: This is an estate sale, not available individually. There are three 4-plexes and one duplex making a 14-unit portfolio with package price of $1,450,000. All properties are occupied and in good condition, no deferred maintenance, located conveniently near shopping and restaurants. Package includes four addresses: 1816 Glenn Street, 1803 Graymont Lane, 1809 Windover Place, and 202 Somerville Road in Decatur Alabama. No showings until under contract. Please do not disturb the tenants. Tenants pay electric, water, trash.

20. 2025-01-23
    listed $245,000 Active 544-char remark

    Show marketing remark (544 chars)

    PORTFOLIO SALE ONLY: This is an estate sale, not available individually. There are three 4-plexes and one duplex making a 14-unit portfolio with package price of $1,450,000. All properties are occupied and in good condition, no deferred maintenance, located conveniently near shopping and restaurants. Package includes four addresses: 1816 Glenn Street, 1803 Graymont Lane, 1809 Windover Place, and 202 Somerville Road in Decatur Alabama. No showings until under contract. Please do not disturb the tenants. Tenants pay electric, water, trash.

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $37,260
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,981
• − Management: −$2,981
• − Depreciation: −$7,273
• Taxable income: $5,022
• Est. tax owed @ 24.0%: −$1,205
• After-tax cash flow: $7,498/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.

Condition & rehab AI · 3 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with no major repairs needed. A fresh coat of paint and new gutters would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace gutters — Prevents water damage and improves appearance

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace gutters — Prevents water damage and improves appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+2.0% since first listed

2 events — show timeline

• 2025-11-13 Price Changed $250,000 VMLS
• 2025-01-23 Listed $245,000 VMLS