26952 Spyglass Dr · Orange Beach, AL 36561

$345,000

3 bd · 2.5 ba · 1,451 sqft · Townhouse public records · 46 Days on market

Built 2020 1,132 sqft lot $238/sqft · at area comps Est $355k · at est. $300/mo HOA · 9% of rent

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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).

• Cash flow +16.5/30.0
• ARV discount +8.8/15.0
• DSCR +5.1/10.0
• Schools +5.0/10.0
• 1% rule +4.3/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Unit is complete * * * Spyglass is our new luxury town-home community with so much to offer- including a community pool! These beautiful town-homes are 3 bedrooms, 2 1/2 baths featuring 9 foot ceilings with luxury vinyl plank flooring in the main living areas and wet areas, granite counter tops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. * * $3000 towards closing costs when preferred lender is used * * * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) Enjoy the relaxing view of the pond which features 2 fountains from the living room and kitchen. You can also relax and enjoy the community pool. Don't miss out on this amazing location and price point! * Interior pictures are of similar town-home unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

Key facts

• Golf cart access
• Sidewalks to beach
• $300 HOA

Tags

• GOLD FORTIFIED CONSTRUCTION
• GOLF CART ACCESS
• SIDEWALKS TO BEACH
• TENNIS AND PICKLEBALL COURTS

Property features AI

Finance

• Other: Community pool and outdoor amenities maintained by association
• HOA & community: Monthly association fee of $300; Association covers common area insurance, grounds maintenance, pest control, common area taxes, trash, and pool; Transfer fees apply

Exterior

• Parking: Single covered garage (1 covered space)
• Utilities: Electric served by Baldwin EMC; Community sewer/water (association amenities); Trash service included in association fees
• Home design: Townhouse; Attached property; Two stories; Zero lot line
• Construction: Built with concrete board; Fortified-Gold construction; Slab foundation; Metal roof
• Exterior features: Fenced; Community pool (association); BBQ area

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Electric range; Refrigerator with ice maker
• Bedrooms: Primary bedroom with attached bath and walk-in closet on the second floor (approx. 16 x 16); Second bedroom (approx. 10 x 10); Third bedroom (approx. 10 x 10)
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom with double vanity and shower
• Heating & cooling: Central electric heating
• Interior features: No fireplace; Furnished negotiable
• Laundry & utility: Laundry located on level 2

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $345k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $322k (6.7% below list).
• Recommended offer: $322k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 0.2% in Orange Beach — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#17 in AL, #3,891 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Market conditions: 87 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 39% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $239k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $321,837 (6.7% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.93% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.54%
• DSCR: 1.11
• GRM: 8.9

CMA / ARV

• ARV (median comp): $355,435
• List price: $345,000
• Delta: -2.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26940 Spyglass Dr	0.03mi	3/2.5	1,451 (0%)	1mo	$335,000	$231	98
26996 Spyglass Dr	0.08mi	3/2.5	1,451 (0%)	1mo	$355,000	$245	95
26941 Spyglass Dr	0.03mi	3/2.5	1,500 (+3%)	2mo	$345,000	$230	91
26954 Spyglass Dr	0.00mi	3/2.5	1,516 (+4%)	4mo	$320,000	$211	89
4551 Walker Key Blvd Unit G4	0.28mi	2/2.0 (-1)	1,388 (-4%)	4mo	$468,000	$337	70
27282 Canal Rd #207	0.37mi	4/3.0 (+1)	1,604 (+10%)	1mo	$725,000	$452	57
4532 Walker Key Blvd Unit F19	0.32mi	2/2.0 (-1)	1,258 (-13%)	2mo	$430,000	$342	54
4615 Nancy Ln #8	0.64mi	3/2.5	1,618 (+12%)	3mo	$390,000	$241	49
27580 Canal Rd #1504	0.65mi	2/2.0 (-1)	1,308 (-10%)	2mo	$660,000	$505	45
27580 Canal Rd #1210	0.65mi	2/2.0 (-1)	1,308 (-10%)	3mo	$699,999	$535	44
27582 Canal Rd #2310	0.71mi	2/2.0 (-1)	1,308 (-10%)	3mo	$575,000	$440	41
27582 Canal Rd #2110	0.71mi	2/2.0 (-1)	1,308 (-10%)	4mo	$570,000	$436	40

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: -12.3%
• Equity multiple: 0.56×
• Total profit: $-42,867
• Equity at exit: $51,441

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-20,483
• Equity at exit: $29,829

Cash invested: $96,600 (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 36561

• Active inventory: 87
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,218 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$144
• HOA: −$300
• Vacancy / Maint / Mgmt: −$676
• Net cashflow: $204

Break-even live

Break-even rent $2,960

Max offer price $345,000

Occupancy floor 89%

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4532 Walker Key Blvd Unit F-1 Orange Beach, AL	3.0	2.0	1258	$3,250	$2.58	43d	1	0.35mi
27481 Canal Rd Orange Beach, AL	3.0	3.0	1741	$3,450	$1.98	43d	1	0.55mi
4216 Antigua Ct Orange Beach, AL	4.0	3.5	1718	$3,200	$1.86	43d	1	0.77mi
25624 W Perdido Ave Orange Beach, AL	2.0	2.0	1170	$1,580	$1.35	13d	3	1.30mi

HOA detail

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool

Listing history 25 events

1. 2026-06-19
   days on market $345,000 Active 46 DOM
2. 2026-06-18
   days on market $345,000 Active 45 DOM
3. 2026-06-17
   days on market $345,000 Active 44 DOM
4. 2026-06-16
   days on market $345,000 Active 43 DOM
5. 2026-06-15
   days on market $345,000 Active 42 DOM
6. 2026-06-14
   days on market $345,000 Active 40 DOM
7. 2026-06-13
   days on market $345,000 Active 39 DOM
8. 2026-06-10
   days on market $345,000 Active 37 DOM
9. 2026-06-09
   days on market $345,000 Active 36 DOM
10. 2026-06-08
    days on market $345,000 Active 35 DOM
11. 2026-06-07
    days on market $345,000 Active 34 DOM
12. 2026-06-05
    days on market $345,000 Active 31 DOM
13. 2026-06-03
    days on market $345,000 Active 30 DOM
14. 2026-06-02
    days on market $345,000 Active 29 DOM
15. 2026-06-01
    days on market $345,000 Active 28 DOM
16. 2026-05-31
    days on market $345,000 Active 27 DOM
17. 2026-05-30
    days on market $345,000 Active 26 DOM
18. 2026-05-04
    listed $345,000 Active 1003-char remark
19. 2022-09-02
    historical
20. 2022-08-25
    status Active
21. 2022-07-23
    status Pending
22. 2022-07-16
    price $309,000
23. 2022-07-01
    listed $329,000 Active
24. 2021-02-18
    soldstatus $239,000

    Show marketing remark (1419 chars)

    * * * Unit is complete * * * Spyglass is our new luxury town-home community with so much to offer- including a community pool! These beautiful town-homes are 3 bedrooms, 2 1/2 baths featuring 9 foot ceilings with luxury vinyl plank flooring in the main living areas and wet areas, granite counter tops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. * * $3000 towards closing costs when preferred lender is used * * * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) Enjoy the relaxing view of the pond which features 2 fountains from the living room and kitchen. You can also relax and enjoy the community pool. Don't miss out on this amazing location and price point! * Interior pictures are of similar town-home unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

25. 2020-07-01
    listed $239,000

    Show marketing remark (1419 chars)

    * * * Unit is complete * * * Spyglass is our new luxury town-home community with so much to offer- including a community pool! These beautiful town-homes are 3 bedrooms, 2 1/2 baths featuring 9 foot ceilings with luxury vinyl plank flooring in the main living areas and wet areas, granite counter tops in the kitchen and bathrooms, and so much more! The floor plan offers the perfect combination of living space and a convenient Orange Beach location. You are minutes from dining, shopping, outdoor activities, and the beach. * * $3000 towards closing costs when preferred lender is used * * * This home is being built to Gold FORTIFIED HomeTM certification, which may save the buyer on their homeowner’s insurance. (See Sales Representative for details. ) * * This home features our Home is Connected (SM) Smart Home Technology, which includes control panel, doorbell, smartcode lock, two smart light switches, and thermostat, all controlled by one app. (See Sales Representative for complete details on these smart home features. ) Enjoy the relaxing view of the pond which features 2 fountains from the living room and kitchen. You can also relax and enjoy the community pool. Don't miss out on this amazing location and price point! * Interior pictures are of similar town-home unit and not necessarily of subject property, including interior and exterior colors, options, and finishes.

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,415 · $118/mo
• Expected delta: +$393/yr (+$33/mo · 38.4%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $38,620
• − Mortgage interest: −$19,325
• − Property taxes: −$1,022
• − Insurance: −$1,725
• − Repairs & maintenance: −$3,090
• − Management: −$3,090
• − HOA: −$3,600
• − Depreciation: −$10,036
• Taxable loss: −$3,267
• Est. tax savings @ 24.0%: +$784
• After-tax cash flow: $3,237/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)

No district data.

Livability — Orange Beach

• Score: 75/100
• State rank: #17
• US rank: #3891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange Beach, AL
• County: Baldwin County · 181,514 people
• City population: 9,528
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 9,528
• Household income: $98,295
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 179.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Black 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 4% Slovak 4% Russian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.50%
• Current HPI: 270.8382
• Rent YoY: —
• Metro: Daphne-Fairhope-Foley, AL
• 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

+44.4% since first listed

8 events — show timeline

• 2026-05-04 Listed $345,000 BCAR
• 2022-09-02 Delisted — BCAR
• 2022-08-25 Relisted — BCAR
• 2022-07-23 Pending — BCAR
• 2022-07-16 Price Changed $309,000 BCAR
• 2022-07-01 Listed $329,000 BCAR
• 2021-02-18 Sold (MLS) $239,000 BCAR
• 2020-07-01 Listed $239,000 BCAR

Property tax history

+22.0%/yr

Latest (2025): $1,022 · -48.8% YoY. Source: county tax records.