1101 Patterson Dr · Florence, AL 35630

$160,000

3 bd · 2.0 ba · 792 sqft · SingleFamily public records · 35 Days on market

Built 1940 4,791 sqft lot $202/sqft · 29% above area Est $165k · at est.

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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 +10.3/30.0
• ARV discount +8.8/15.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled 3 bedroom, 2 bath home in a prime Florence location! This beautifully updated home offers modern style and convenience just minutes from both the University of North Alabama and 7 Points. Inside, you’ll find luxury vinyl plank flooring throughout, brand-new kitchen cabinetry, stainless steel appliances, elegant crown molding, and fresh finishes from top to bottom. The layout provides comfortable living with updated bathrooms, a stylish kitchen perfect for entertaining, and move-in-ready condition. Conveniently located near shopping, dining, schools, and downtown Florence.

Key facts

• Updated bathrooms
• Remodeled home
• 4,791 sq ft lot

Tags

• REMODELED HOME
• LUXURY VINYL PLANK FLOORING
• BRAND-NEW KITCHEN CABINETRY
• STAINLESS STEEL APPLIANCES
• ELEGANT CROWN MOLDING
• UPDATED BATHROOMS

Property features AI

Exterior

• Parking: No covered spaces listed; No carport
• Utilities: Public water; Public sewer; Water available
• Home design: Single family residence; One story
• Construction: Vinyl siding exterior; Shingle roof; Block foundation; Existing (year built not specified)
• Exterior features: Level lot; Covered porch

Interior

• Kitchen: Electric range, dishwasher, microwave
• Bedrooms: Three bedrooms (all on the main level); Bedroom sizes approximately 13x10, 11x11, and 12x11
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crawl space basement; Electric Range, Dishwasher, Microwave
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (32.2% below list).
• Recommended offer: $108k (32.2% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: Harlan Elementary School (math 12% / reading 27%, grade F, #467 of 627 statewide, top 76%, 402 students, 90% 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); 268 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $108,413 (32.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.68% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 12.3

CMA / ARV

• ARV (median comp): $164,754
• List price: $160,000
• Delta: -2.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Cypress Mill Rd	0.35mi	2/1.0 (-1)	784 (-1%)	2mo	$88,780	$113	71
523 W Cleveland Ave	0.40mi	2/1.0 (-1)	841 (+6%)	4mo	$101,000	$120	58
513 Collier Ave	0.44mi	2/1.0 (-1)	800 (+1%)	14mo	$132,000	$165	57
326 Edgewood Dr	0.16mi	2/1.0 (-1)	901 (+14%)	10mo	$159,900	$177	52
908 Cumberland St	0.44mi	2/1.0 (-1)	805 (+2%)	22mo	$45,000	$56	49
1248 Glenn Ave	0.36mi	2/1.0 (-1)	900 (+14%)	14mo	$130,000	$144	40
913 Royal Ave	0.64mi	2/1.0 (-1)	850 (+7%)	13mo	$25,000	$29	38
1614 Sherrod Ave	0.53mi	2/1.0 (-1)	888 (+12%)	23mo	$80,500	$91	27
204 Button Ave	0.68mi	3/1.0	905 (+14%)	23mo	$105,000	$116	22

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.37×
• Total profit: $-28,080
• Equity at exit: $23,857

10-year hold

• IRR: -5.0%
• Equity multiple: 0.63×
• Total profit: $-16,381
• Equity at exit: $13,834

Cash invested: $44,800 (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: 268
• Price-to-rent: 12.3×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$839
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-89

Break-even live

Break-even rent $1,196

Max offer price $144,330

Occupancy floor —

Sensitivity live

Price	-10% $2	-5% $-43	+0% $-89	+5% $-134	+10% $-179
Rent	-10% $-174	-5% $-132	+0% $-89	+5% $-46	+10% $-3
Rate	-1.0pp $-8	-0.5pp $-48	base $-89	+0.5pp $-130	+1.0pp $-172

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1246 Graham Ave Unit 30 Florence, AL	2.0	1.0	650	$695	$1.07	44d	1	0.26mi
1034 N Royal Ave Unit 2 Florence, AL	2.0	1.0	900	$850	$0.94	44d	1	0.44mi
939 N Royal Ave Florence, AL	2.0	1.0	900	$850	$0.94	44d	1	0.56mi
418 N Poplar St Florence, AL	2.0	2.0	1000	$995	$0.99	44d	1	1.00mi
301 N Court St Unit 1 Florence, AL	2.0	1.5	1000	$850	$0.85	44d	1	1.02mi
520 E Tuscaloosa St Unit 520-C Florence, AL	2.0	1.0	900	$995	$1.11	44d	1	1.07mi
Cypress Dr Florence, AL	2.0	1.0	782	$695	$0.89	44d	1	1.27mi
2424 Roberts Ln Florence, AL	2.0	2.0	1100	$1,095	$1.00	44d	1	1.48mi

Listing history 19 events

1. 2026-06-19
   days on market $160,000 Active 35 DOM
2. 2026-06-18
   days on market $160,000 Active 34 DOM
3. 2026-06-17
   days on market $160,000 Active 33 DOM
4. 2026-06-16
   days on market $160,000 Active 32 DOM
5. 2026-06-15
   days on market $160,000 Active 31 DOM
6. 2026-06-14
   days on market $160,000 Active 29 DOM
7. 2026-06-13
   days on market $160,000 Active 28 DOM
8. 2026-06-10
   days on market $160,000 Active 26 DOM
9. 2026-06-09
   days on market $160,000 Active 25 DOM
10. 2026-06-08
    days on market $160,000 Active 24 DOM
11. 2026-06-05
    days on market $160,000 Active 20 DOM
12. 2026-06-02
    days on market $160,000 Active 18 DOM
13. 2026-06-01
    days on market $160,000 Active 17 DOM
14. 2026-05-31
    days on market $160,000 Active 16 DOM
15. 2026-05-30
    days on market $160,000 Active 15 DOM
16. 2026-05-15
    listed $160,000 Active 605-char remark

    Show marketing remark (605 chars)

    Completely remodeled 3 bedroom, 2 bath home in a prime Florence location! This beautifully updated home offers modern style and convenience just minutes from both the University of North Alabama and 7 Points. Inside, you’ll find luxury vinyl plank flooring throughout, brand-new kitchen cabinetry, stainless steel appliances, elegant crown molding, and fresh finishes from top to bottom. The layout provides comfortable living with updated bathrooms, a stylish kitchen perfect for entertaining, and move-in-ready condition. Conveniently located near shopping, dining, schools, and downtown Florence.

17. 2026-05-15
    listed $160,000 Active 605-char remark

    Show marketing remark (605 chars)

    Completely remodeled 3 bedroom, 2 bath home in a prime Florence location! This beautifully updated home offers modern style and convenience just minutes from both the University of North Alabama and 7 Points. Inside, you’ll find luxury vinyl plank flooring throughout, brand-new kitchen cabinetry, stainless steel appliances, elegant crown molding, and fresh finishes from top to bottom. The layout provides comfortable living with updated bathrooms, a stylish kitchen perfect for entertaining, and move-in-ready condition. Conveniently located near shopping, dining, schools, and downtown Florence.

18. 2026-05-15
    listed $160,000 Active

    Show marketing remark (605 chars)

    Completely remodeled 3 bedroom, 2 bath home in a prime Florence location! This beautifully updated home offers modern style and convenience just minutes from both the University of North Alabama and 7 Points. Inside, you’ll find luxury vinyl plank flooring throughout, brand-new kitchen cabinetry, stainless steel appliances, elegant crown molding, and fresh finishes from top to bottom. The layout provides comfortable living with updated bathrooms, a stylish kitchen perfect for entertaining, and move-in-ready condition. Conveniently located near shopping, dining, schools, and downtown Florence.

19. 2021-12-23
    soldstatus $445,500

ⓘ 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: $473 · $39/mo
• Projected year-2 tax: $656 · $55/mo
• Expected delta: +$183/yr (+$15/mo · 38.6%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,010
• − Mortgage interest: −$8,962
• − Property taxes: −$473
• − Insurance: −$800
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$4,655
• Taxable loss: −$3,962
• Est. tax savings @ 24.0%: +$951
• After-tax cash flow: $-114/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: 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

-64.1% since first listed

4 events — show timeline

• 2026-05-15 Listed $160,000 REALTRACS as Distributed by MLS Grid
• 2026-05-15 Listed $160,000 VMLS
• 2026-05-15 Listed $160,000 SAARMLS
• 2021-12-23 Sold (Public Records) $445,500 Public Records

Property tax history

+4.9%/yr

Latest (2024): $473 · +11.8% YoY. Source: county tax records.