1365 2nd St · Cherokee, AL 35616

$105,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 41 Days on market

Built 1977 0.35 ac lot $88/sqft · 32% above area Est $88k · 20% over

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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 +23.6/30.0
• DSCR +7.6/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming brick home in Cherokee city limits. This 3-bedroom, 1-bath property features a carport, concrete driveway, and all kitchen appliances remaining. VP flooring has been partially installed, with remaining materials to convey for the new owner to complete. The home is currently heated with electric heat and cooled by window units. An HVAC system and ductwork are in place but are not currently operational. Being sold AS-IS, this property offers a great opportunity, perfect for an investor looking to add to their portfolio or a buyer ready to make it their own. Cash or Conventional opportunity! Call to see today!!

Key facts

• Kitchen appliances
• Carport
• Brick home

Tags

• BRICK HOME
• CARPORT
• CONCRETE DRIVEWAY
• KITCHEN APPLIANCES
• VP FLOORING
• HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $103k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#205 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Colbert County (rural): math 13% / reading 38% proficiency, ranked #90 of 129 in AL (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 67 active listings in the ZIP; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $732 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 17y 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 $62k; list at $106k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,723 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.00% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 8.3

CMA / ARV

• ARV (median comp): $88,176
• List price: $105,900
• Delta: 20.10%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
925 Adams St	0.46mi	3/1.0	1,248 (+4%)	2mo	$72,000	$58	70
1075 Lair Ln	0.45mi	3/1.5	1,200 (0%)	14mo	$150,000	$125	66
445 N Pike Pike	0.26mi	2/1.0 (-1)	1,247 (+4%)	15mo	$89,000	$71	63
430 Gibbs Ln	0.52mi	3/1.0	1,373 (+14%)	2mo	$112,000	$82	50

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-4,431
• Equity at exit: $15,790

10-year hold

• IRR: 5.7%
• Equity multiple: 1.42×
• Total profit: $12,420
• Equity at exit: $9,156

Cash invested: $29,652 (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 35616

• Home prices YoY: -25.7%
• Active inventory: 67
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,063 medium
• Mortgage (P&I): −$555
• Tax from tax record: −$40 /mo · $479/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $201

Break-even live

Break-even rent $809

Max offer price $105,900

Occupancy floor 76%

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: $26,475
• Closing costs: $3,177
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-18
   listed $105,900 Active 624-char remark

   Show marketing remark (624 chars)

   Charming brick home in Cherokee city limits. This 3-bedroom, 1-bath property features a carport, concrete driveway, and all kitchen appliances remaining. VP flooring has been partially installed, with remaining materials to convey for the new owner to complete. The home is currently heated with electric heat and cooled by window units. An HVAC system and ductwork are in place but are not currently operational. Being sold AS-IS, this property offers a great opportunity, perfect for an investor looking to add to their portfolio or a buyer ready to make it their own. Cash or Conventional opportunity! Call to see today!!

2. 2021-05-12
   soldstatus $62,000
3. 2019-12-03
   listed $51,500
4. 2012-08-15
   listed $60,000
5. 2011-02-22
   listed $65,000
6. 2010-05-24
   listed $69,000
7. 2009-10-06
   listed $65,000
8. 2009-07-17
   soldstatus $50,500
9. 2009-03-12
   listed $49,650

ⓘ 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: $479 · $40/mo
• Projected year-2 tax: $479 · $40/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $12,758
• − Mortgage interest: −$5,932
• − Property taxes: −$479
• − Insurance: −$530
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$3,081
• Taxable income: $695
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $2,239/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: Colbert County
• NCES district ID: 0100840
• Math proficiency: 13% ▼ -24.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $40,710
• Composite: 21.48/100
• National rank: #8328
• State rank: #90 of 129 in AL

Livability — Cherokee

• Score: 63/100
• State rank: #205
• US rank: #16057

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cherokee, AL
• Population (ZIP): 3,681

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 16% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Iranian 1%
• Foreign-born: 1% · Canada

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.23%
• Current HPI: 122.1612
• 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

+113.3% since first listed

9 events — show timeline

• 2026-04-18 Listed $105,900 SAARMLS
• 2021-05-12 Sold (Public Records) $62,000 Public Records
• 2019-12-03 Listed $51,500 SAARMLS
• 2012-08-15 Listed $60,000 SAARMLS
• 2011-02-22 Listed $65,000 SAARMLS
• 2010-05-24 Listed $69,000 SAARMLS
• 2009-10-06 Listed $65,000 SAARMLS
• 2009-07-17 Sold (MLS) $50,500 SAARMLS
• 2009-03-12 Listed $49,650 SAARMLS