724 Old Hwy 31 S · Falkville, AL 35622

$69,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 146 Days on market

Built 1968 0.71 ac lot ↓ 22% since listing

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Why this score? — see what drove the C+ 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 +28.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for investors or owner-occupants seeking value. This 3-bedroom, 1-bath residence features a practical floor plan with comfortable living spaces and natural light throughout. The home is move-in ready with potential for cosmetic improvements to enhance value. Conveniently located with quick access to Highway 31, making daily commuting easy. Offered at a price that reflects its condition and potential. Property sold AS-IS.

Key facts

• Convenient location
• Functional layout
• Good natural light

Tags

• INVESTMENT OPPORTUNITY
• CONVENIENT LOCATION
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• GOOD NATURAL LIGHT
• EASY ACCESS TO HWY 31

Property features AI

Finance

• HOA & community: No association

Exterior

• Parking: Driveway (dirt)
• Utilities: Septic tank
• Home design: Single-family residence; One story; Built in 1968; Living area approximately 1,174 square feet
• Construction: Vinyl siding exterior; No fireplaces
• Exterior features: 0.71-acre lot; Lot described as Metes And Bounds; Directions: Take Hwy 31 from Decatur to Falkville, turn right on Old Hwy 31, turn left on Hand Rd; property is on the left

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: 6 total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($850 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#201 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, amenities F, commute F.
• Morgan County (rural): math 19% / reading 43% proficiency, ranked #61 of 129 in AL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Falkville Elementary School (math 17% / reading 47%, grade F, #331 of 627 statewide, top 57%, 332 students, 68% FRL); Falkville High School (math 11% / reading 29%, grade F, #163 of 305 statewide, top 54%, 411 students, 64% FRL) — zoned schools average 66% FRL vs 44% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 49 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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 1968 — 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. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.53%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $14,544,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
289 Powell Chapel Rd	0.56mi	3/1.0	928 (-11%)	3mo	$12,978,000	$13,985	53

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $3,753
• Equity at exit: $10,422

10-year hold

• IRR: 14.4%
• Equity multiple: 2.16×
• Total profit: $22,639
• Equity at exit: $6,044

Cash invested: $19,572 (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 35622

• Home prices YoY: -4.5%
• Active inventory: 49
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $850 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $237

Break-even live

Break-even rent $550

Max offer price $69,900

Occupancy floor 67%

Sensitivity live

Price	-10% $277	-5% $257	+0% $237	+5% $217	+10% $197
Rent	-10% $170	-5% $203	+0% $237	+5% $271	+10% $304
Rate	-1.0pp $272	-0.5pp $255	base $237	+0.5pp $219	+1.0pp $201

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 Bell Springs Rd Falkville, AL	2.0	1.0	800	$850	$1.06	44d	1	0.29mi
27 Bell Springs Rd Falkville, AL	2.0	1.0	800	$850	$1.06	44d	1	0.31mi

Listing history 7 events

1. 2026-06-18
   days on market $69,900 Active 146 DOM
2. 2026-06-17
   days on market $69,900 Active 145 DOM
3. 2026-06-16
   days on market $69,900 Active 144 DOM
4. 2026-06-15
   days on market $69,900 Active 143 DOM
5. 2026-06-14
   days on market $69,900 Active 141 DOM
6. 2026-06-13
   remarks 442-char remark
7. 2026-06-13
   listed $69,900 Active 140 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: $465 · $39/mo
• Projected year-2 tax: $465 · $39/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 5/10 Major
• 🌡 Heat 4/10 Moderate 6 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $10,200
• − Mortgage interest: −$3,915
• − Property taxes: −$465
• − Insurance: −$350
• − Repairs & maintenance: −$816
• − Management: −$816
• − Depreciation: −$2,033
• Taxable income: $1,804
• Est. tax owed @ 24.0%: −$433
• After-tax cash flow: $2,411/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: Morgan County
• NCES district ID: 0102480
• Math proficiency: 19% ▼ -28.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $47,362
• Composite: 26.68/100
• National rank: #7157
• State rank: #61 of 129 in AL

Livability — Falkville

• Score: 63/100
• State rank: #201
• US rank: #15918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,532

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: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3% Asian 1% Black 1%
• Common ancestry: Iranian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 2% · South Korea, Canada
• Languages at home: 96% English-only · Korean 1% German/W. Germanic 1% Spanish 1%

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: ▼ -10.13%
• Current HPI: 216.7304
• 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

-22.3% since first listed

4 events — show timeline

• 2026-06-13 Price Changed $69,900 VMLS
• 2026-03-14 Relisted — VMLS
• 2026-03-07 Pending — VMLS
• 2026-01-16 Listed $90,000 VMLS

Property tax history

-26.9%/yr

Latest (2025): $465 · +13.0% YoY. Source: county tax records.