409 S Orleans St · Florence, AL 35630

$449,900

None bd · None ba · 1,890 sqft · MultiFamily · 194 Days on market

Built 1976 Fair condition 7,405 sqft lot $238/sqft · 472% above area

---

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 +26.4/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity in a prime location! This property features three duplexes with six fully rented 2-bedroom, 1-bath units, offering immediate income plus strong upside potential. The units are solid but could benefit from updates, giving investors an excellent chance to increase rents and overall property value. Consistently rented and conveniently located near major amenities, this is a smart value-add addition to any portfolio.

Key facts

• Updates
• Immediate income
• Prime location

Tags

• PRIME LOCATION
• THREE DUPLEXES
• SIX FULLY RENTED UNITS
• IMMEDIATE INCOME
• STRONG UPSIDE POTENTIAL
• UPDATES

What this means for you Summary

Snapshot

• This is a multifamily listed at $450k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Forest Hills School (math 39% / reading 65%, grade C-, #102 of 627 statewide, top 17%, 831 students, 45% FRL); Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 270 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• At $5,416/mo this rent would consume 140% of the median local household income ($46k/yr) (locally 1516% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $126k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $75k; list at $450k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $395,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 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 1976 — 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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.14%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (median comp): $78,612
• List price: $449,900
• Delta: 472.30%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.18% rent growth · sell at horizon

5-year hold

• IRR: 3.9%
• Equity multiple: 1.16×
• Total profit: $19,544
• Equity at exit: $67,082

10-year hold

• IRR: 16.2%
• Equity multiple: 2.52×
• Total profit: $191,593
• Equity at exit: $38,899

Cash invested: $125,972 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 270
• Price-to-rent: 41.5×

Monthly cashflow live

• Estimated rent: $5,416 medium
• Mortgage (P&I): −$2,359
• Tax est. 1.5%: −$562 /mo · $6,748/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,137
• Net cashflow: $1,169

Break-even live

Break-even rent $3,936

Max offer price $449,900

Occupancy floor 73%

Sensitivity live

Price	-10% $1,480	-5% $1,325	+0% $1,169	+5% $1,014	+10% $859
Rent	-10% $742	-5% $956	+0% $1,169	+5% $1,383	+10% $1,597
Rate	-1.0pp $1,396	-0.5pp $1,284	base $1,169	+0.5pp $1,053	+1.0pp $934

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$5,418
Total (6 units)			$5,416

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4026 Peachtree St Florence, AL	3.0	2.0	1660	$1,300	$0.78	45d	1	0.85mi
200 Foxfield Pl Florence, AL	2.0	2.0	1250	$1,120	$0.90	45d	1	0.90mi

Listing history 20 events

1. 2026-06-22
   days on market $449,900 Active 194 DOM
2. 2026-06-21
   days on market $449,900 Active 193 DOM
3. 2026-06-19
   days on market $449,900 Active 191 DOM
4. 2026-06-18
   days on market $449,900 Active 190 DOM
5. 2026-06-17
   days on market $449,900 Active 189 DOM
6. 2026-06-16
   days on market $449,900 Active 188 DOM
7. 2026-06-15
   days on market $449,900 Active 187 DOM
8. 2026-06-14
   days on market $449,900 Active 185 DOM
9. 2026-06-13
   days on market $449,900 Active 184 DOM
10. 2026-06-10
    days on market $449,900 Active 182 DOM
11. 2026-06-09
    days on market $449,900 Active 181 DOM
12. 2026-06-08
    days on market $449,900 Active 180 DOM
13. 2026-06-05
    days on market $449,900 Active 176 DOM
14. 2026-06-02
    days on market $449,900 Active 174 DOM
15. 2026-06-01
    days on market $449,900 Active 173 DOM
16. 2026-05-31
    days on market $449,900 Active 172 DOM
17. 2026-05-30
    days on market $449,900 Active 171 DOM
18. 2025-12-10
    listed $449,900 Active 445-char remark

    Show marketing remark (445 chars)

    Great investment opportunity in a prime location! This property features three duplexes with six fully rented 2-bedroom, 1-bath units, offering immediate income plus strong upside potential. The units are solid but could benefit from updates, giving investors an excellent chance to increase rents and overall property value. Consistently rented and conveniently located near major amenities, this is a smart value-add addition to any portfolio.

19. 2022-05-04
    soldstatus $75,000 13-char remark

    Show marketing remark (13 chars)

    Sold at print

20. 2022-05-03
    listed $75,000 13-char remark

    Show marketing remark (13 chars)

    Sold at print

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,992
• − Mortgage interest: −$25,201
• − Property taxes: −$6,748
• − Insurance: −$2,250
• − Repairs & maintenance: −$5,199
• − Management: −$5,199
• − Depreciation: −$13,088
• Taxable income: $7,306
• Est. tax owed @ 24.0%: −$1,753
• After-tax cash flow: $12,280/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 · 2 photos

Fair 45/100 Moderate rehab

This multi-family property presents as needing moderate repairs and maintenance, with potential for significant value increase through exterior updates and landscaping improvements.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Minor landscaping — Needs trimming and freshening

Value-add opportunities

• Both paint exterior — Enhances curb appeal and property value
• Both landscaping — Improves curb appeal and rental appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
landscaping · Needs trimming and freshening	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and property value ↑
• Both landscaping — Improves curb appeal and rental appeal ↑

ⓘ 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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+499.9% since first listed

3 events — show timeline

• 2025-12-10 Listed $449,900 SAARMLS
• 2022-05-04 Sold (MLS) $75,000 SAARMLS
• 2022-05-03 Listed $75,000 SAARMLS