1506 First Ave · Andalusia, AL 36420

$165,000

3 bd · 1.0 ba · 1,592 sqft · SingleFamily · 134 Days on market

Built 1955 0.48 ac lot $104/sqft · at area comps Est $170k · at est.

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Why this score? — see what drove the D- 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).

• ARV discount +8.7/15.0
• Appreciation +8.4/10.0
• Cash flow +6.8/30.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• DSCR +1.0/10.0

Listing remarks MLS

Welcome home to this well-maintained 3bd/ 1bath brick beauty offering comfortable, character and functionality. New roof 2026 with shutters and garage door freshly painted. Inside, you'll find a spacious living room highlighted by hardwood floors, abundant of natural light and a fireplace. The cozy layout provides space for relaxing or entertaining. The kitchen offers a dinning room and another family room to each side, that offers more room for family and friends gatherings. Backyard offers plenty of room for outdoor activities and pets. This home blends timeless charm with practical updates-- perfect for first-time buyers, downsizers, or investors alike. Conveniently located near schools, shopping and dining. And don't forget that you are less than 90 minutes to the sandy white beaches.

Key facts

• Backyard
• Family room
• Dining room

Tags

• HARDWOOD FLOORS
• FIREPLACE
• DINING ROOM
• FAMILY ROOM
• BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-258 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $128k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (32.3% below list).
• Recommended offer: $112k (32.3% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#142 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Andalusia City (town): math 29% / reading 48% proficiency, ranked #35 of 129 in AL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Andalusia Elementary School (math 29% / reading 53%, grade F, #233 of 627 statewide, top 38%, 1,126 students, 63% FRL); Andalusia Junior High (math 30% / reading 46%, grade F, #69 of 257 statewide, top 27%, 248 students, 75% FRL); Andalusia High School (math 27% / reading 37%, grade F, #59 of 305 statewide, top 21%, 497 students, 61% FRL).
• Market conditions: 87 active listings in the ZIP; 13 units permitted in Covington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (6.8% local appreciation)).
• Covington County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,704 (32.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — 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 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.68% ✗
• Cap rate: 4.42%
• Cash-on-cash: -6.70%
• DSCR: 0.70
• GRM: 12.3

CMA / ARV

• ARV (median comp): $169,660
• List price: $165,000
• Delta: -2.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1122 Calvary St	0.20mi	3/2.0	1,396 (-12%)	0mo	$160,000	$115	66
324 Adams Ave	0.57mi	3/2.0	1,679 (+6%)	0mo	$350,000	$208	60
1401 1st Ave	0.20mi	3/2.0	1,789 (+12%)	19mo	$190,000	$106	50
1107 Midway Dr	0.38mi	3/1.5	1,431 (-10%)	18mo	$165,000	$115	49
330 Adams Ave	0.55mi	3/2.0	1,702 (+7%)	20mo	$307,500	$181	42
1100 Albritton Rd	0.62mi	3/2.0	1,422 (-11%)	11mo	$187,000	$132	40
422 Adams Ave	0.49mi	3/2.0	1,384 (-13%)	19mo	$225,000	$163	35

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

Projected returns pro-forma

6.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.85×
• Total profit: $39,281
• Equity at exit: $112,285

10-year hold

• IRR: 12.7%
• Equity multiple: 3.74×
• Total profit: $126,714
• Equity at exit: $211,453

Cash invested: $46,200 (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 36420

• Home prices YoY: 2.9%
• Active inventory: 87
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,117 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $-258

Break-even live

Break-even rent $1,443

Max offer price $127,694

Occupancy floor —

Sensitivity live

Price	-10% $-144	-5% $-201	+0% $-258	+5% $-315	+10% $-372
Rent	-10% $-346	-5% $-302	+0% $-258	+5% $-214	+10% $-170
Rate	-1.0pp $-175	-0.5pp $-216	base $-258	+0.5pp $-301	+1.0pp $-344

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-22
   days on market $165,000 Active 134 DOM
2. 2026-06-21
   days on market $165,000 Active 133 DOM
3. 2026-06-19
   days on market $165,000 Active 131 DOM
4. 2026-06-18
   days on market $165,000 Active 130 DOM
5. 2026-06-17
   days on market $165,000 Active 129 DOM
6. 2026-06-16
   days on market $165,000 Active 128 DOM
7. 2026-06-15
   days on market $165,000 Active 127 DOM
8. 2026-06-14
   days on market $165,000 Active 125 DOM
9. 2026-06-12
   days on market $165,000 Active 124 DOM
10. 2026-06-09
    days on market $165,000 Active 121 DOM
11. 2026-06-08
    days on market $165,000 Active 120 DOM
12. 2026-06-07
    days on market $165,000 Active 119 DOM
13. 2026-06-07
    days on market $165,000 Active 118 DOM
14. 2026-06-04
    days on market $165,000 Active 115 DOM
15. 2026-06-02
    days on market $165,000 Active 114 DOM
16. 2026-06-01
    days on market $165,000 Active 113 DOM
17. 2026-05-31
    days on market $165,000 Active 112 DOM
18. 2026-05-31
    days on market $165,000 Active 111 DOM
19. 2026-05-12
    price $165,000 801-char remark

    Show marketing remark (801 chars)

    Welcome home to this well-maintained 3bd/ 1bath brick beauty offering comfortable, character and functionality. New roof 2026 with shutters and garage door freshly painted. Inside, you'll find a spacious living room highlighted by hardwood floors, abundant of natural light and a fireplace. The cozy layout provides space for relaxing or entertaining. The kitchen offers a dinning room and another family room to each side, that offers more room for family and friends gatherings. Backyard offers plenty of room for outdoor activities and pets. This home blends timeless charm with practical updates-- perfect for first-time buyers, downsizers, or investors alike. Conveniently located near schools, shopping and dining. And don't forget that you are less than 90 minutes to the sandy white beaches.

20. 2026-04-15
    status Active 801-char remark

    Show marketing remark (801 chars)

    Welcome home to this well-maintained 3bd/ 1bath brick beauty offering comfortable, character and functionality. New roof 2026 with shutters and garage door freshly painted. Inside, you'll find a spacious living room highlighted by hardwood floors, abundant of natural light and a fireplace. The cozy layout provides space for relaxing or entertaining. The kitchen offers a dinning room and another family room to each side, that offers more room for family and friends gatherings. Backyard offers plenty of room for outdoor activities and pets. This home blends timeless charm with practical updates-- perfect for first-time buyers, downsizers, or investors alike. Conveniently located near schools, shopping and dining. And don't forget that you are less than 90 minutes to the sandy white beaches.

21. 2026-03-13
    historical Active Under Contract 801-char remark

    Show marketing remark (801 chars)

    Welcome home to this well-maintained 3bd/ 1bath brick beauty offering comfortable, character and functionality. New roof 2026 with shutters and garage door freshly painted. Inside, you'll find a spacious living room highlighted by hardwood floors, abundant of natural light and a fireplace. The cozy layout provides space for relaxing or entertaining. The kitchen offers a dinning room and another family room to each side, that offers more room for family and friends gatherings. Backyard offers plenty of room for outdoor activities and pets. This home blends timeless charm with practical updates-- perfect for first-time buyers, downsizers, or investors alike. Conveniently located near schools, shopping and dining. And don't forget that you are less than 90 minutes to the sandy white beaches.

22. 2026-02-08
    listed $168,500 Active 801-char remark

    Show marketing remark (801 chars)

    Welcome home to this well-maintained 3bd/ 1bath brick beauty offering comfortable, character and functionality. New roof 2026 with shutters and garage door freshly painted. Inside, you'll find a spacious living room highlighted by hardwood floors, abundant of natural light and a fireplace. The cozy layout provides space for relaxing or entertaining. The kitchen offers a dinning room and another family room to each side, that offers more room for family and friends gatherings. Backyard offers plenty of room for outdoor activities and pets. This home blends timeless charm with practical updates-- perfect for first-time buyers, downsizers, or investors alike. Conveniently located near schools, shopping and dining. And don't forget that you are less than 90 minutes to the sandy white beaches.

23. 2020-07-16
    soldstatus $125,000 956-char remark

    Show marketing remark (956 chars)

    UPDATED RANCH; BEAUTIFUL OAK FLOORS IN LIVING ROOM, HALL, DINING ROOM, & BEDROOMS JUST REFINISHED BY GREATHOUSE; 2 FIREPLACES; NEW VINYL PLANK FLOORS IN FAMILY ROOM; CERAMIC TILE IN BATH; UPGRADED PLUMBING & ELECTRICAL; PERFECT SPOT TO ADD A MASTER BATH AT MINIMAL COST; MOVE IN READY! UPSCALE APPLIANCES: BOSCH DISHWASHER; 3 DRAWER STAINLESS STEEL FRIDGE HAS MIRRORED DOOR; UPDATED LAMINATE COUNTER TOPS; BREAKFAST BAR; ARCHITECTURAL SHINGLE ROOF; WALKER ELECTRIC HAS SERVICE RECORDS ON HVAC & INSPECTED RECENTLY; CHAIN LINK FENCED BACK YARD; ATTACHED STORAGE ROOM. SHORT DRIVE TO BEACHES OF DESTIN, 30A, FORT WALTON, ETC. GANTT LAKE AND POINT A LAKE APPX 10 MILES. ANDALUSIA HAS EXCELLENT SCHOOLS, GOOD YOUTH PROGRAMS, NAMED IN TOP 10 OF CHRISTMAS CITIES FOR CANDYLAND ACTIVIES: ICE SKATING, SNOW TUBING, SNOW, ON SQUARE, JULY JAMZ CONCERTS, 2 GOLF COURSES, COUNTRY CLUB HSA 1 OF THE GOLF COURSES, TENNIS COURTS, & FANTASTIC DINING.

24. 2020-06-10
    listed $125,000 956-char remark

    Show marketing remark (956 chars)

    UPDATED RANCH; BEAUTIFUL OAK FLOORS IN LIVING ROOM, HALL, DINING ROOM, & BEDROOMS JUST REFINISHED BY GREATHOUSE; 2 FIREPLACES; NEW VINYL PLANK FLOORS IN FAMILY ROOM; CERAMIC TILE IN BATH; UPGRADED PLUMBING & ELECTRICAL; PERFECT SPOT TO ADD A MASTER BATH AT MINIMAL COST; MOVE IN READY! UPSCALE APPLIANCES: BOSCH DISHWASHER; 3 DRAWER STAINLESS STEEL FRIDGE HAS MIRRORED DOOR; UPDATED LAMINATE COUNTER TOPS; BREAKFAST BAR; ARCHITECTURAL SHINGLE ROOF; WALKER ELECTRIC HAS SERVICE RECORDS ON HVAC & INSPECTED RECENTLY; CHAIN LINK FENCED BACK YARD; ATTACHED STORAGE ROOM. SHORT DRIVE TO BEACHES OF DESTIN, 30A, FORT WALTON, ETC. GANTT LAKE AND POINT A LAKE APPX 10 MILES. ANDALUSIA HAS EXCELLENT SCHOOLS, GOOD YOUTH PROGRAMS, NAMED IN TOP 10 OF CHRISTMAS CITIES FOR CANDYLAND ACTIVIES: ICE SKATING, SNOW TUBING, SNOW, ON SQUARE, JULY JAMZ CONCERTS, 2 GOLF COURSES, COUNTRY CLUB HSA 1 OF THE GOLF COURSES, TENNIS COURTS, & FANTASTIC DINING.

25. 2020-05-06
    soldstatus $70,990
26. 2019-12-11
    listed $101,000
27. 2019-12-11
    listed $101,000
28. 2019-12-10
    listed $90,900

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 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: $13,404
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,072
• − Management: −$1,072
• − Depreciation: −$4,800
• Taxable loss: −$6,083
• Est. tax savings @ 24.0%: +$1,460
• After-tax cash flow: $-1,634/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: Andalusia City
• NCES district ID: 0100060
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $32,645
• Composite: 31.52/100
• National rank: #5964
• State rank: #35 of 129 in AL

Livability — Andalusia

• Score: 65/100
• State rank: #142
• US rank: #13465

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Andalusia, AL
• City population: 9,861
• Population (ZIP): 10,358

Population outlook (Covington County) Hauer SSP2

• Today (2025): 37,007 people
• By 2030: 36,401 · -1.6%
• By 2040: 34,983 · -5.5%
• By 2050: 33,437 · -9.6%
• By 2075: 29,753 · -19.6%
• By 2100: 25,109 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 13% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Covington

• 2024 margin: Solid R (+72.4) · D 13.6% · R 86.0%
• 2008→2024 swing: -14.1pp toward R · 2008: -58.3pp · 2024: -72.4pp
• All cycles: 2024: R+72.4 2020: R+68.1 2016: R+68.5 2012: R+58.3 2008: R+58.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.81%
• Current HPI: 239.35
• 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

+81.5% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $165,000 CAOR
• 2026-04-15 Relisted — CAOR
• 2026-03-13 Contingent — CAOR
• 2026-02-08 Listed $168,500 CAOR
• 2020-07-16 Sold (MLS) $125,000 CAOR
• 2020-06-10 Listed $125,000 CAOR
• 2020-05-06 Sold (MLS) $70,990 SAMLS
• 2019-12-11 Listed $101,000 MAAR
• 2019-12-11 Listed $101,000 WBR
• 2019-12-10 Listed $90,900 SAMLS