3123 Redland Rd · Redland, AL 36093

$199,900

3 bd · 2.0 ba · 2,054 sqft · SingleFamily public records · 35 Days on market

Built 1976 1.80 ac lot $97/sqft · 23% below area Est $260k · 23% 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE SIZE HOUSE AND ALMOST TWO ACRES, IN WETUMPKA ALABAMA. .. . PROPERT HAS A SLAB FOUNDATION, WITH A TWO CAR CARPORT, COVERED PATIO, LIVING ROOM, DINING ROOM, KITCHEN, DEN WITH FIREPLACE, A BONUS ROOM, LAUNDRY ROOM, THREE BEDROOMS AND TWO FULL BATHROOMS. .. . AND THE BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

Key facts

• Slab foundation
• Kitchen
• Living room

Tags

• SLAB FOUNDATION
• TWO CAR CARPORT
• COVERED PATIO
• LIVING ROOM
• DINING ROOM
• KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $194 ($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 $181k (9.3% below list).
• Recommended offer: $181k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 2.9% in Redland — 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 (#10 in AL, #3,261 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Elmore County (town): math 27% / reading 54% proficiency, ranked #21 of 129 in AL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 166 active listings in the ZIP; 92 units permitted in Elmore 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.
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 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 $155k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $181,406 (9.3% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.91% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 9.2

CMA / ARV

• ARV (median comp): $259,862
• List price: $199,900
• Delta: -23.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 New Bingham Dr	0.18mi	3/2.0	2,245 (+9%)	0mo	$300,900	$134	76
125 New Bingham Rd	0.25mi	3/2.5	2,138 (+4%)	22mo	$289,900	$136	61
247 New Bingham Dr	0.37mi	3/2.0	1,999 (-3%)	22mo	$270,000	$135	60
184 Ridgefield Dr	0.45mi	3/2.0	2,010 (-2%)	21mo	$253,000	$126	58
18 Clemmensen St	0.34mi	4/2.0 (+1)	1,774 (-14%)	0mo	$320,900	$181	56

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: -9.8%
• Equity multiple: 0.64×
• Total profit: $-20,116
• Equity at exit: $29,806

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,876
• Equity at exit: $17,284

Cash invested: $55,972 (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 36093

• Home prices YoY: -20.6%
• Active inventory: 166
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,814 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$108 /mo · $1,294/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $194

Break-even live

Break-even rent $1,569

Max offer price $199,900

Occupancy floor 84%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-09
   statusdays on market $199,900 Pending 35 DOM
2. 2026-04-30
   status Active 316-char remark

   Show marketing remark (316 chars)

   NICE SIZE HOUSE AND ALMOST TWO ACRES, IN WETUMPKA ALABAMA. .. . PROPERT HAS A SLAB FOUNDATION, WITH A TWO CAR CARPORT, COVERED PATIO, LIVING ROOM, DINING ROOM, KITCHEN, DEN WITH FIREPLACE, A BONUS ROOM, LAUNDRY ROOM, THREE BEDROOMS AND TWO FULL BATHROOMS. .. . AND THE BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

3. 2026-04-23
   status Active 316-char remark

   Show marketing remark (316 chars)

   NICE SIZE HOUSE AND ALMOST TWO ACRES, IN WETUMPKA ALABAMA. .. . PROPERT HAS A SLAB FOUNDATION, WITH A TWO CAR CARPORT, COVERED PATIO, LIVING ROOM, DINING ROOM, KITCHEN, DEN WITH FIREPLACE, A BONUS ROOM, LAUNDRY ROOM, THREE BEDROOMS AND TWO FULL BATHROOMS. .. . AND THE BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

4. 2026-04-16
   status Pending 316-char remark

   Show marketing remark (316 chars)

   NICE SIZE HOUSE AND ALMOST TWO ACRES, IN WETUMPKA ALABAMA. .. . PROPERT HAS A SLAB FOUNDATION, WITH A TWO CAR CARPORT, COVERED PATIO, LIVING ROOM, DINING ROOM, KITCHEN, DEN WITH FIREPLACE, A BONUS ROOM, LAUNDRY ROOM, THREE BEDROOMS AND TWO FULL BATHROOMS. .. . AND THE BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

5. 2026-04-10
   listed $199,900 Active 316-char remark

   Show marketing remark (316 chars)

   NICE SIZE HOUSE AND ALMOST TWO ACRES, IN WETUMPKA ALABAMA. .. . PROPERT HAS A SLAB FOUNDATION, WITH A TWO CAR CARPORT, COVERED PATIO, LIVING ROOM, DINING ROOM, KITCHEN, DEN WITH FIREPLACE, A BONUS ROOM, LAUNDRY ROOM, THREE BEDROOMS AND TWO FULL BATHROOMS. .. . AND THE BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

6. 2022-07-08
   soldstatus $155,000 1094-char remark

   Show marketing remark (1094 chars)

   Calling all Investors or Buyers who are looking and are ready to renovate a property in the Redland area of Elmore County! This home is a 3 bedroom, 2 bath home with over 2000 sq. ft. sitting on a 1.8 acre lot. From the front door you enter into the foyer to your left is a living room/dining room. Directly off of the foyer is a den with a vaulted ceiling with beams. There is a nice size kitchen with a smooth cooktop, and the electric wall oven. From the kitchen you step down into a large room that could be another den or a game room. There is also the laundry area just off the kitchen and a pantry closet. On the opposite side of the home is 3 bedrooms and 2 full tiled baths with tub/shower combo. Outside you have the carport and a large covered patio area. There is a nice storage area connected to the carport for storing yard equipment. In the backyard you have a brick building that could be a workshop for the handy man in your family. On this property there is a fenced area with a pool that needs repairs. Seller makes no representations or warranties as to property condition.

7. 2022-06-15
   listed $165,000 1094-char remark

   Show marketing remark (1094 chars)

   Calling all Investors or Buyers who are looking and are ready to renovate a property in the Redland area of Elmore County! This home is a 3 bedroom, 2 bath home with over 2000 sq. ft. sitting on a 1.8 acre lot. From the front door you enter into the foyer to your left is a living room/dining room. Directly off of the foyer is a den with a vaulted ceiling with beams. There is a nice size kitchen with a smooth cooktop, and the electric wall oven. From the kitchen you step down into a large room that could be another den or a game room. There is also the laundry area just off the kitchen and a pantry closet. On the opposite side of the home is 3 bedrooms and 2 full tiled baths with tub/shower combo. Outside you have the carport and a large covered patio area. There is a nice storage area connected to the carport for storing yard equipment. In the backyard you have a brick building that could be a workshop for the handy man in your family. On this property there is a fenced area with a pool that needs repairs. Seller makes no representations or warranties as to property condition.

ⓘ 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: $1,294 · $108/mo
• Projected year-2 tax: $1,294 · $108/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,769
• − Mortgage interest: −$11,198
• − Property taxes: −$1,294
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$5,815
• Taxable loss: −$1,021
• Est. tax savings @ 24.0%: +$245
• After-tax cash flow: $2,569/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: Elmore County
• NCES district ID: 0101290
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 54% ▲ 3.00%
• Median HH income: $54,898
• Composite: 35.27/100
• National rank: #4974
• State rank: #21 of 129 in AL

Livability — Redland

• Score: 76/100
• State rank: #10
• US rank: #3261

Category grades

Amenities F Commute F Cost of living C+ 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: Redland, AL
• City population: 11,699
• Population (ZIP): 11,699

Population outlook (Elmore County) Hauer SSP2

• Today (2025): 85,154 people
• By 2030: 86,667 · +1.8%
• By 2040: 89,014 · +4.5%
• By 2050: 90,331 · +6.1%
• By 2075: 96,096 · +12.8%
• By 2100: 95,290 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 12% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Elmore

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -50.9pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+48.2 2016: R+52.0 2012: R+48.8 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.69%
• Current HPI: 149.4012
• 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

+21.2% since first listed

6 events — show timeline

• 2026-04-30 Relisted — MAAR
• 2026-04-23 Relisted — MAAR
• 2026-04-16 Pending — MAAR
• 2026-04-10 Listed $199,900 MAAR
• 2022-07-08 Sold (MLS) $155,000 MAAR
• 2022-06-15 Listed $165,000 MAAR

Property tax history

+10.5%/yr

Latest (2025): $1,294 · +0.0% YoY. Source: county tax records.