154 Joe Walding Dr · Midland City, AL 36350

$169,900

3 bd · 1.0 ba · 1,194 sqft · SingleFamily public records · 42 Days on market

Built 2009 0.25 ac lot $142/sqft · at area comps Est $172k · at est.

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +8.1/15.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great corner lot 3/2 home that's move in ready waiting for its new owners. This home features a circle drive, garage, fenced back yard, storage building and screened in back porch in a convenient location close to schools, Troy Dothan and 231. Huge closets with loads of storage. Plenty of living space inside and outside.

Key facts

• Fenced back yard
• Circle drive
• Storage building

Tags

• CORNER LOT
• CIRCLE DRIVE
• FENCED BACK YARD
• STORAGE BUILDING
• SCREENED IN BACK PORCH
• HUGE CLOSETS

Property features AI

Finance

• Other: Located in Cotton Estates SD Phase I subdivision

Exterior

• Parking: Attached garage (1 covered space, 1 total parking space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family home; One story
• Construction: Brick and wood siding construction
• Exterior features: Screened patio/porch

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Pantry; Ceiling fan(s); Eat-in kitchen; Double-pane windows
• Laundry & utility: Laundry located in garage; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $970 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#143 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Dale County (rural): math 31% / reading 50% proficiency, ranked #26 of 129 in AL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dale County High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 417 students, 73% FRL) — zoned schools average 73% FRL vs 52% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 40% district-wide (-24 pts) — the specific schools serving this property underperform the Dale County average; the district grade overstates school quality for this exact location.
• Market conditions: 75 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Dale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Dale County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.47% ✓
• Cap rate: 13.14%
• Cash-on-cash: 24.46%
• DSCR: 2.09
• GRM: 5.7

CMA / ARV

• ARV (median comp): $172,269
• List price: $169,900
• Delta: -1.38%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
268 Halie Dr	0.15mi	3/2.0	1,256 (+5%)	7mo	$153,000	$122	75
59 Cotton Dr	0.12mi	3/2.0	1,238 (+4%)	15mo	$154,000	$124	72
327 Halie Dr	0.20mi	3/2.0	1,300 (+9%)	13mo	$172,500	$133	61
969 Hinton Waters Ave	0.34mi	3/2.0	1,264 (+6%)	15mo	$164,000	$130	58
61 Magnolia St	0.44mi	3/2.0	1,361 (+14%)	4mo	$209,000	$154	49
127 Brookline St	0.41mi	2/1.0 (-1)	1,077 (-10%)	18mo	$35,000	$32	45
100 Huey	0.70mi	3/1.0	1,075 (-10%)	11mo	$135,000	$126	42
223 Daniel St	0.72mi	3/2.0	1,248 (+4%)	21mo	$150,000	$120	37
94 Huey St	0.71mi	2/2.0 (-1)	1,100 (-8%)	22mo	$125,000	$114	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.7%
• Equity multiple: 4.24×
• Total profit: $154,236
• Equity at exit: $153,059

10-year hold

• IRR: 36.9%
• Equity multiple: 9.52×
• Total profit: $405,493
• Equity at exit: $330,078

Cash invested: $47,572 (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 36350

• Home prices YoY: 8.0%
• Active inventory: 75
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$43 /mo · $521/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $970

Break-even live

Break-even rent $1,272

Max offer price $169,900

Occupancy floor 56%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 Joe Walding Dr Midland City, AL	3.0	2.0	1238	$2,500	$2.02	44d	1	0.07mi

Listing history 17 events

1. 2026-06-19
   statusdays on market $169,900 Pending 42 DOM
2. 2026-06-18
   days on market $169,900 Active Under Contract 41 DOM
3. 2026-06-17
   days on market $169,900 Active Under Contract 40 DOM
4. 2026-06-16
   days on market $169,900 Active Under Contract 39 DOM
5. 2026-06-15
   days on market $169,900 Active Under Contract 38 DOM
6. 2026-06-14
   days on market $169,900 Active Under Contract 36 DOM
7. 2026-06-12
   days on market $169,900 Active Under Contract 35 DOM
8. 2026-06-09
   days on market $169,900 Active Under Contract 32 DOM
9. 2026-06-08
   days on market $169,900 Active Under Contract 31 DOM
10. 2026-06-07
    days on market $169,900 Active Under Contract 30 DOM
11. 2026-06-05
    days on market $169,900 Active Under Contract 27 DOM
12. 2026-06-03
    days on market $169,900 Active Under Contract 26 DOM
13. 2026-06-02
    days on market $169,900 Active Under Contract 25 DOM
14. 2026-06-01
    days on market $169,900 Active Under Contract 24 DOM
15. 2026-05-31
    days on market $169,900 Active Under Contract 23 DOM
16. 2026-05-30
    days on market $169,900 Active Under Contract 22 DOM
17. 2026-05-08
    listed $169,900 Active 323-char remark

ⓘ 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: $521 · $43/mo
• Projected year-2 tax: $697 · $58/mo
• Expected delta: +$176/yr (+$15/mo · 33.8%)

ⓘ 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 8/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $30,000
• − Mortgage interest: −$9,517
• − Property taxes: −$521
• − Insurance: −$850
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$4,943
• Taxable income: $9,370
• Est. tax owed @ 24.0%: −$2,249
• After-tax cash flow: $9,389/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: Dale County
• NCES district ID: 0101050
• Math proficiency: 31% ▼ -29.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $42,949
• Composite: 34.16/100
• National rank: #5277
• State rank: #26 of 129 in AL

Livability — Midland City

• Score: 65/100
• State rank: #143
• US rank: #13549

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland City, AL
• Population (ZIP): 7,675

Population outlook (Dale County) Hauer SSP2

• Today (2025): 46,805 people
• By 2030: 45,176 · -3.5%
• By 2040: 41,523 · -11.3%
• By 2050: 37,575 · -19.7%
• By 2075: 28,931 · -38.2%
• By 2100: 22,172 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 23% Hispanic / Latino 5% Two or more races 3%
• Common ancestry: Italian 2% Slovak 2% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Dale

• 2024 margin: Solid R (+52.3) · D 23.5% · R 75.8%
• 2008→2024 swing: -7.7pp toward R · 2008: -44.6pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+46.3 2016: R+50.4 2012: R+42.2 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 16.34%
• Current HPI: 219.7326
• 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

2 events — show timeline

• 2026-05-19 Contingent — SAMLS
• 2026-05-08 Listed $169,900 SAMLS

Property tax history

+4.5%/yr

Latest (2025): $521 · +6.1% YoY. Source: county tax records.