107 Phelan St · Marion, AL 36756

$39,900

3 bd · 1.0 ba · 1,025 sqft · SingleFamily · 121 Days on market

Built 1971 Poor condition 0.36 ac lot $39/sqft · 41% below area Est $68k · 41% under ↓ 39% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +4.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

REO / Lender-Owned – Handyman Special. 3BR/1BA home built in 1971 on approx. .36 acre. Property is a full rehab requiring kitchen, bath, flooring, and interior updates. Dated paneling throughout. No central air. Sold AS-IS, WHERE-IS with no repairs or contingencies. Ideal for investors or renovation buyers. Cash or renovation financing only. This property may also be marketed via an auction event at Xome (void where prohibited). The Seller will review offers submitted through the auction site as well as through the listing agent.

Key facts

• 0.36 acre lot
• 2 parking spots
• Built 1971

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $556 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#68 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: housing D, schools F, amenities F.
• Perry County (rural): math 23% / reading 24% proficiency, ranked #120 of 133 in AL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 94% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 15 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-2.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $804 of value loss. Plan a longer hold.
• Perry County population projected at -33% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.64% ✓
• Cap rate: 23.01%
• Cash-on-cash: 59.71%
• DSCR: 3.66
• GRM: 3.2

CMA / ARV

• ARV (median comp): $67,597
• List price: $39,900
• Delta: -40.97%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 W Lafayette St	0.25mi	2/1.0 (-1)	1,009 (-2%)	15mo	$70,000	$69	69

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

Projected returns pro-forma

-2.01% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 59.4%
• Equity multiple: 3.74×
• Total profit: $30,629
• Equity at exit: $7,727

10-year hold

• IRR: 63.4%
• Equity multiple: 7.61×
• Total profit: $73,819
• Equity at exit: $6,582

Cash invested: $11,172 (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 36756

• Home prices YoY: -1.6%
• Active inventory: 15
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,053 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $556

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 42%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-04
   statusdays on market $39,900 Pending 121 DOM
2. 2026-06-02
   days on market $39,900 Active 120 DOM
3. 2026-06-01
   days on market $39,900 Active 119 DOM
4. 2026-05-31
   days on market $39,900 Active 118 DOM
5. 2026-05-31
   days on market $39,900 Active 117 DOM
6. 2026-04-21
   price $39,900 541-char remark

   Show marketing remark (541 chars)

   REO / Lender-Owned – Handyman Special. 3BR/1BA home built in 1971 on approx. .36 acre. Property is a full rehab requiring kitchen, bath, flooring, and interior updates. Dated paneling throughout. No central air. Sold AS-IS, WHERE-IS with no repairs or contingencies. Ideal for investors or renovation buyers. Cash or renovation financing only. This property may also be marketed via an auction event at Xome (void where prohibited). The Seller will review offers submitted through the auction site as well as through the listing agent.

7. 2026-03-17
   price $44,900 541-char remark

   Show marketing remark (541 chars)

   REO / Lender-Owned – Handyman Special. 3BR/1BA home built in 1971 on approx. .36 acre. Property is a full rehab requiring kitchen, bath, flooring, and interior updates. Dated paneling throughout. No central air. Sold AS-IS, WHERE-IS with no repairs or contingencies. Ideal for investors or renovation buyers. Cash or renovation financing only. This property may also be marketed via an auction event at Xome (void where prohibited). The Seller will review offers submitted through the auction site as well as through the listing agent.

8. 2026-01-30
   listed $64,900 Active 541-char remark

   Show marketing remark (541 chars)

   REO / Lender-Owned – Handyman Special. 3BR/1BA home built in 1971 on approx. .36 acre. Property is a full rehab requiring kitchen, bath, flooring, and interior updates. Dated paneling throughout. No central air. Sold AS-IS, WHERE-IS with no repairs or contingencies. Ideal for investors or renovation buyers. Cash or renovation financing only. This property may also be marketed via an auction event at Xome (void where prohibited). The Seller will review offers submitted through the auction site as well as through the listing agent.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,633
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,011
• − Management: −$1,011
• − Depreciation: −$1,161
• Taxable income: $6,418
• Est. tax owed @ 24.0%: −$1,540
• After-tax cash flow: $5,131/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 · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive renovations, including kitchen and bathroom updates, new flooring, and central air, to become move-in ready and increase its value.

Repairs flagged

• Major kitchen countertops — missing and in poor condition
• Major bathroom fixtures — missing and in poor condition
• Major flooring — missing and in poor condition
• Major interior walls — dated paneling and peeling paint
• Major central air — no central air system

Value-add opportunities

• Both central air — improves comfort and energy efficiency
• Both kitchen and bathroom updates — modernizes and increases appeal
• Both exterior landscaping — enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen countertops · missing and in poor condition	Major	$15,000–50,000
bathroom fixtures · missing and in poor condition	Major	$15,000–50,000
flooring · missing and in poor condition	Major	$15,000–50,000
interior walls · dated paneling and peeling paint	Major	$15,000–50,000
central air · no central air system	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both central air — improves comfort and energy efficiency ↑
• Both kitchen and bathroom updates — modernizes and increases appeal ↑
• Both exterior landscaping — enhances curb appeal and property value ↑

ⓘ 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: Perry County
• NCES district ID: 0102670
• Math proficiency: 23% ▲ 8.00%
• Reading proficiency: 24% ▲ 7.00%
• Median HH income: $26,220
• Composite: 21.64/100
• National rank: #13601
• State rank: #120 of 133 in AL

Livability — Marion

• Score: 68/100
• State rank: #68
• US rank: #9346

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marion, AL
• Population (ZIP): 5,483

Population outlook (Perry County) Hauer SSP2

• Today (2025): 8,295 people
• By 2030: 7,562 · -8.8%
• By 2040: 6,330 · -23.7%
• By 2050: 5,530 · -33.3%
• By 2075: 4,737 · -42.9%
• By 2100: 4,695 · -43.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (65%)
• Race & ethnicity: Black 65% White 34%
• Common ancestry: Italian 1%
• Foreign-born: 1%
• Languages at home: 100% English-only · Spanish 0%

Political lean MEDSL · Perry

• 2024 margin: Solid D (+42.7) · D 71.2% · R 28.5%
• 2008→2024 swing: -2.4pp toward R · 2008: 45.1pp · 2024: 42.7pp
• All cycles: 2024: D+42.7 2020: D+48.2 2016: D+46.0 2012: D+50.0 2008: D+45.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.01%
• Current HPI: 123.2417
• 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

-38.5% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $39,900 Greater Alabama MLS
• 2026-03-17 Price Changed $44,900 Greater Alabama MLS
• 2026-01-30 Listed $64,900 Greater Alabama MLS