32 Slate St · Atmore, AL 36502

$155,000

3 bd · 2.0 ba · 1,412 sqft · SingleFamily public records · 193 Days on market

Built 1976 0.48 ac lot $110/sqft · 10% above area Est $199k · 22% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a home that is move in ready with a new roof? Then look no further! This 3 bed/2 bath home has plenty of opportunity to make it your own as well as to entertain your family and friends. Also, did I mention it has an outdoor deck? I can go on and on with telling you more details about this property, but this is one you must see to believe. Call to schedule your appointment today, before this one slips away! Buyer to verify all information during due diligence.

Key facts

• Outdoor deck
• New roof
• 0.48 acre lot

Tags

• NEW ROOF
• OUTDOOR DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 7.4% in Atmore — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 50/100 on livability (#530 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Escambia County (town): math 17% / reading 39% proficiency, ranked #83 of 129 in AL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 115 active listings in the ZIP; 18 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Escambia County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 193 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — 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 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?
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: 1.04% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (median comp): $199,050
• List price: $155,000
• Delta: -22.13%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-3,222
• Equity at exit: $23,111

10-year hold

• IRR: 7.7%
• Equity multiple: 1.58×
• Total profit: $25,210
• Equity at exit: $13,402

Cash invested: $43,400 (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 36502

• Home prices YoY: -23.4%
• Active inventory: 115
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$50 /mo · $603/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $345

Break-even live

Break-even rent $1,174

Max offer price $155,000

Occupancy floor 74%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $155,000 Active 193 DOM
2. 2026-06-18
   days on market $155,000 Active 192 DOM
3. 2026-06-17
   days on market $155,000 Active 191 DOM
4. 2026-06-16
   days on market $155,000 Active 190 DOM
5. 2026-06-15
   days on market $155,000 Active 189 DOM
6. 2026-06-14
   days on market $155,000 Active 187 DOM
7. 2026-06-12
   days on market $155,000 Active 186 DOM
8. 2026-06-09
   days on market $155,000 Active 183 DOM
9. 2026-06-08
   days on market $155,000 Active 182 DOM
10. 2026-06-07
    days on market $155,000 Active 181 DOM
11. 2026-06-04
    days on market $155,000 Active 177 DOM
12. 2026-06-02
    days on market $155,000 Active 176 DOM
13. 2026-06-01
    days on market $155,000 Active 175 DOM
14. 2026-05-31
    days on market $155,000 Active 174 DOM
15. 2026-05-31
    days on market $155,000 Active 173 DOM
16. 2026-01-08
    price $155,000 478-char remark

    Show marketing remark (478 chars)

    Looking for a home that is move in ready with a new roof? Then look no further! This 3 bed/2 bath home has plenty of opportunity to make it your own as well as to entertain your family and friends. Also, did I mention it has an outdoor deck? I can go on and on with telling you more details about this property, but this is one you must see to believe. Call to schedule your appointment today, before this one slips away! Buyer to verify all information during due diligence.

17. 2025-12-08
    listed $164,900 Active 478-char remark

    Show marketing remark (478 chars)

    Looking for a home that is move in ready with a new roof? Then look no further! This 3 bed/2 bath home has plenty of opportunity to make it your own as well as to entertain your family and friends. Also, did I mention it has an outdoor deck? I can go on and on with telling you more details about this property, but this is one you must see to believe. Call to schedule your appointment today, before this one slips away! Buyer to verify all information during due diligence.

18. 2022-09-11
    listed $44,900 Active
19. 2022-03-11
    listed $54,900

ⓘ 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: $603 · $50/mo
• Projected year-2 tax: $636 · $53/mo
• Expected delta: +$32/yr (+$3/mo · 5.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,329
• − Mortgage interest: −$8,682
• − Property taxes: −$603
• − Insurance: −$775
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$4,509
• Taxable income: $1,666
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $3,737/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: Escambia County
• NCES district ID: 0101350
• Math proficiency: 17% ▼ -27.00%
• Reading proficiency: 39% ▼ -4.00%
• Median HH income: $31,905
• Composite: 22.73/100
• National rank: #8036
• State rank: #83 of 129 in AL

Livability — Atmore

• Score: 50/100
• State rank: #530
• US rank: #25632

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 1,121
• Population (ZIP): 16,008

Population outlook (Escambia County) Hauer SSP2

• Today (2025): 36,683 people
• By 2030: 35,844 · -2.3%
• By 2040: 34,393 · -6.2%
• By 2050: 33,109 · -9.7%
• By 2075: 28,305 · -22.8%
• By 2100: 21,091 · -42.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 49% Black 40% Native American 7% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Iranian 3% Slovak 1% Serbian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Escambia

• 2024 margin: Solid R (+46.4) · D 26.6% · R 72.9%
• 2008→2024 swing: -17.8pp toward R · 2008: -28.5pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+37.4 2016: R+36.7 2012: R+25.5 2008: R+28.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -58.16%
• Current HPI: 190.1872
• 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

+182.3% since first listed

4 events — show timeline

• 2026-01-08 Price Changed $155,000 BCAR
• 2025-12-08 Listed $164,900 BCAR
• 2022-09-11 Listed $44,900 BCAR
• 2022-03-11 Listed $54,900 BCAR

Property tax history

+13.9%/yr

Latest (2025): $603 · +3.9% YoY. Source: county tax records.