4193 Massachusetts Ave N · Cordova, AL 35550

$64,000

4 bd · 2.0 ba · 2,490 sqft · SingleFamily · 103 Days on market

Built 1900

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Investor special! This is an AS-IS sale. At one time, it was a duplex. It was converted to single-family living. It could be either way. The house needs repairs. There is no central heating or air conditioning; only window units and space heaters are available. The property can be accessed from an alley off the main road through town. Good rental property or remodel into a one-family dwelling. There are a lot of possibilities for one with an imagination.

Key facts

• Good rental property
• Single-family living
• Garage

Tags

• SINGLE-FAMILY LIVING
• GOOD RENTAL PROPERTY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $705 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#441 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Walker County (rural): math 13% / reading 39% proficiency, ranked #89 of 129 in AL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cordova Elementary School (math 47% / reading 62%, grade C, #87 of 627 statewide, top 15%, 351 students, 67% FRL); Cordova High School (math 8% / reading 12%, grade F, #252 of 305 statewide, top 84%, 467 students, 65% FRL).
• Market conditions: 27 active listings in the ZIP; 36 units permitted in Walker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($442 loan paydown + $2k appreciation (3.2% local appreciation)).
• Walker County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
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. 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: 2.27% ✓
• Cap rate: 19.51%
• Cash-on-cash: 47.21%
• DSCR: 3.10
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $194,220
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47 Reservoir St	0.25mi	4/2.0	2,664 (+7%)	17mo	$180,000	$68	62
294 Highland Ave	0.24mi	4/3.0	2,381 (-4%)	18mo	$184,900	$78	62

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

Projected returns pro-forma

3.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.8%
• Equity multiple: 3.98×
• Total profit: $53,436
• Equity at exit: $29,627

10-year hold

• IRR: 52.2%
• Equity multiple: 8.05×
• Total profit: $126,352
• Equity at exit: $46,331

Cash invested: $17,920 (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 35550

• Home prices YoY: 2.5%
• Active inventory: 27
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,452 medium
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $705

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 46%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-04-20
   status Pending
2. 2026-01-07
   listed $64,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,428
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,394
• − Management: −$1,394
• − Depreciation: −$1,862
• Taxable income: $7,913
• Est. tax owed @ 24.0%: −$1,899
• After-tax cash flow: $6,562/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: Walker County
• NCES district ID: 0103450
• Math proficiency: 13% ▼ -28.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $36,664
• Composite: 21.51/100
• National rank: #8321
• State rank: #89 of 129 in AL

Livability — Cordova

• Score: 55/100
• State rank: #441
• US rank: #23435

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cordova, AL
• Population (ZIP): 5,053

Population outlook (Walker County) Hauer SSP2

• Today (2025): 61,037 people
• By 2030: 58,391 · -4.3%
• By 2040: 53,080 · -13.0%
• By 2050: 48,031 · -21.3%
• By 2075: 37,799 · -38.1%
• By 2100: 29,001 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+71.8) · D 13.8% · R 85.6%
• 2008→2024 swing: -25.4pp toward R · 2008: -46.4pp · 2024: -71.8pp
• All cycles: 2024: R+71.8 2020: R+67.9 2016: R+67.4 2012: R+52.9 2008: R+46.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.23%
• Current HPI: 134.7822
• 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

• 2026-04-20 Pending — Greater Alabama MLS
• 2026-01-07 Listed $64,000 Greater Alabama MLS