1121 King Arthur Ct · Alabaster, AL 35007

$189,900

2 bd · 2.0 ba · 1,241 sqft · Townhouse public records · 45 Days on market

Built 1986 3,484 sqft lot $153/sqft · 6% below area Est $202k · 6% under ↓ 5% since listing

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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 +17.4/30.0
• ARV discount +10.3/15.0
• DSCR +5.4/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this beautifully maintained 2 bedroom, 2 bath townhome offering comfort, space, and cozy charm in all the right places. The open layout flows into a functional kitchen complete with a convenient breakfast bar, ideal for casual dining, entertaining, or morning coffee. The spacious master suite is designed for comfort with a large walk in closet, a private bath with double sinks and plenty of room to unwind. Enjoy the outdoors from the peaceful screened in deck overlooking a fully fenced backyard perfect for pets, kids, gardening, or simply enjoying extra privacy. Need additional storage? This home includes a storage shed for all your tools and extras.

Key facts

• Storage shed
• Screened in deck
• Breakfast bar

Tags

• BREAKFAST BAR
• SCREENED IN DECK
• FULLY FENCED BACKYARD
• STORAGE SHED

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Public water; Connected sewer; Gas water heater; Underground utilities; Internet service available
• Home design: Existing home; Crawl space foundation; Brick over foundation with vinyl siding
• Construction: Brick over foundation; Vinyl siding; Crawl space foundation
• Exterior features: Fenced yard; Storage building; Garden/yard; Screened deck

Interior

• Kitchen: Laminate countertops; Electric cooktop; Built-in dishwasher; Built-in microwave; Refrigerator
• Bedrooms: Master bedroom on main level; Additional bedroom on main level; Walk-in closets
• Flooring: Hardwood laminate floors
• Bathrooms: Two full bathrooms; Master bath on main level; Tub/shower combo
• Heating & cooling: Central heating; Central cooling
• Interior features: Smooth ceilings; Bay window; Brick fireplace in living room (gas)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet on main level; Attic with pull-down access

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $141 ($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 $161k (15.1% below list).
• Recommended offer: $161k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.1% in Alabaster — 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 76/100 on livability (#14 in AL, #3,512 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D-, commute F, health & safety F.
• Alabaster City (suburban): math 30% / reading 57% proficiency, ranked #17 of 129 in AL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Creek View Elementary School (math 56% / reading 71%, grade B, #46 of 627 statewide, top 8%, 946 students, 48% FRL); Thompson High School (math 34% / reading 38%, grade F, #43 of 305 statewide, top 14%, 2,203 students, 48% FRL) — zoned schools average 48% FRL vs 31% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 226 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby 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 $6k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% 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 $161,189 (15.1% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-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?
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

• ARV (median comp): $202,379
• List price: $189,900
• Delta: -6.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1131 King Arthur Ct	0.03mi	2/3.0	1,234 (-1%)	13mo	$169,900	$138	83
117 Sugar Hill Ln	0.14mi	2/2.0	1,284 (+4%)	13mo	$200,000	$156	77
171 Sugar Hill Ln	0.19mi	2/2.0	1,222 (-2%)	15mo	$200,000	$164	76
136 Sugar Hill Ln	0.18mi	2/2.0	1,284 (+4%)	16mo	$199,900	$156	73
140 Sugar Hill Ln	0.18mi	2/2.0	1,147 (-8%)	8mo	$180,000	$157	72
1632 King James Dr	0.21mi	3/2.0 (+1)	1,330 (+7%)	2mo	$215,000	$162	72
205 Willow Point Cir	0.29mi	2/2.5	1,344 (+8%)	4mo	$160,000	$119	68
133 Sugar Hill Ln	0.15mi	2/2.0	1,147 (-8%)	21mo	$192,500	$168	63
1605 King James Dr	0.17mi	2/1.5	1,390 (+12%)	10mo	$190,000	$137	62
116 Sugar Hill Ln	0.16mi	2/2.0	1,147 (-8%)	21mo	$185,000	$161	62

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-23,230
• Equity at exit: $28,315

10-year hold

• IRR: -4.3%
• Equity multiple: 0.73×
• Total profit: $-14,467
• Equity at exit: $16,419

Cash invested: $53,172 (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 35007

• Home prices YoY: -35.0%
• Rents YoY: 2.2%
• Active inventory: 226
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$996
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $141

Break-even live

Break-even rent $1,433

Max offer price $189,900

Occupancy floor 86%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
108 Sugar Hill Ln Alabaster, AL	2.0	2.0	1147	$1,588	$1.38	14d	1	0.14mi
1588 King James Dr Alabaster, AL	2.0	1.5	1261	$1,573	$1.25	10d	1	0.18mi
1592 King James Dr Alabaster, AL	2.0	1.5	1232	$1,573	$1.28	1d	1	0.18mi
2005 King Arthur Cir Alabaster, AL	3.0	2.0	1308	$1,600	$1.22	10d	1	0.28mi
200 Willow Point Cir Alabaster, AL	2.0	2.0	1147	$1,450	$1.26	10d	1	0.30mi
108 Willow Point Ln Alabaster, AL	3.0	2.0	1420	$1,575	$1.11	43d	1	0.31mi
513 Walker Rd Pelham, AL	3.0	2.0	1278	$1,790	$1.40	10d	1	0.81mi
102 Frances Ln Helena, AL	2.0	2.0	1400	$1,600	$1.14	1d	1	0.82mi
1500 Windsor Ct Alabaster, AL	1.0–2.0	1.0–2.0	1058	$1,351	$1.28	1d	10	1.28mi
403 3rd St NE Unit 508 Alabaster, AL	3.0	2.0	900	$1,350	$1.50	43d	1	1.29mi
403 3rd St NE Unit 422 Alabaster, AL	2.0	1.0	845	$1,250	$1.48	43d	1	1.29mi
955 3rd Ave NW Alabaster, AL	3.0	2.0	1363	$1,875	$1.38	3d	1	1.30mi
177 Cedar Bend Dr Helena, AL	3.0	2.5	1500	$1,750	$1.17	1d	1	1.31mi
2812 Saint Patrick Pl N Helena, AL	3.0	2.0	1326	$1,790	$1.35	14d	1	1.37mi
3511 Highway 52 W Unit A Pelham, AL	2.0	1.0	1000	$825	$0.82	2d	1	1.45mi
102 Rockbrook Ln Pelham, AL	3.0	2.0	1277	$1,751	$1.37	15d	1	1.45mi

Listing history 14 events

1. 2026-06-18
   days on market $189,900 Active 45 DOM
2. 2026-06-17
   days on market $189,900 Active 44 DOM
3. 2026-06-16
   days on market $189,900 Active 43 DOM
4. 2026-06-15
   days on market $189,900 Active 42 DOM
5. 2026-06-13
   pricedays on market $189,900 Active 40 DOM
6. 2026-06-10
   days on market $199,900 Active 37 DOM
7. 2026-06-09
   days on market $199,900 Active 36 DOM
8. 2026-06-08
   days on market $199,900 Active 35 DOM
9. 2026-06-07
   days on market $199,900 Active 34 DOM
10. 2026-06-03
    days on market $199,900 Active 30 DOM
11. 2026-06-02
    days on market $199,900 Active 29 DOM
12. 2026-06-01
    days on market $199,900 Active 28 DOM
13. 2026-05-31
    days on market $199,900 Active 27 DOM
14. 2026-05-05
    listed $199,900 Active 674-char remark

ⓘ 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: $689 · $57/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$90/yr (+$7/mo · 13.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,343
• − Mortgage interest: −$10,637
• − Property taxes: −$689
• − Insurance: −$950
• − Repairs & maintenance: −$1,547
• − Management: −$1,547
• − Depreciation: −$5,524
• Taxable loss: −$1,552
• Est. tax savings @ 24.0%: +$373
• After-tax cash flow: $2,064/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: Alabaster City
• NCES district ID: 0100190
• Math proficiency: 30% ▼ -27.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $68,690
• Composite: 39.07/100
• National rank: #4052
• State rank: #17 of 129 in AL

Livability — Alabaster

• Score: 76/100
• State rank: #14
• US rank: #3512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alabaster, AL
• County: Shelby County · 188,970 people
• City population: 28,586
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 28,586
• Household income: $88,505
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 325.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Italian 3% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.63%
• Current HPI: 211.0691
• Rent YoY: ▲ 2.16%
• Metro: Birmingham-Hoover, 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

-5.0% since first listed

2 events — show timeline

• 2026-06-13 Price Changed $189,900 Greater Alabama MLS
• 2026-05-05 Listed $199,900 Greater Alabama MLS

Property tax history

+5.9%/yr

Latest (2025): $689 · +2.1% YoY. Source: county tax records.