138 Edgewood Dr · Level Plains, AL 36322

$195,000

3 bd · 2.0 ba · 2,496 sqft · SingleFamily · 124 Days on market

Built 1979 Fair condition $78/sqft · 31% below area Est $284k · 31% under ↓ 9% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• Appreciation +10.0/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0

Listing remarks MLS

Built in 1979, this 2-bedroom, 2-bath home offers 2,496 square feet of living space filled with character and potential. The main living room features a wood-burning fireplace, while the huge family room includes a cast iron stove with gas logs. The two bonus rooms off the family room could be converted into additional bedroom and/or bathroom space. The kitchen is equipped with a gas range, and the primary bedroom is generously sized. Additional features include an indoor grill and a partial kitchen located in the garage, ideal for entertaining. There is also an underground storm shelter. Sitting on approximately 2 acres, the property is mostly fenced and includes two powered workshops, with one having a bathroom. Conveniently located just minutes from Boll Weevil Circle, approximately 12 minutes to Fort Rucker, and 25 minutes to Dothan. Sold As-Is.

Key facts

• Cast iron stove
• Powered workshops
• Mostly fenced

Tags

• WOOD BURNING FIREPLACE
• CAST IRON STOVE
• INDOOR GRILL
• UNDERGROUND STORM SHELTER
• POWERED WORKSHOPS
• MOSTLY FENCED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-63 ($-759/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (16.6% below list).
• Recommended offer: $163k (16.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#438 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Daleville City (town): math 9% / reading 37% proficiency, ranked #97 of 129 in AL (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: A M Windham Elementary School (math 17% / reading 37%, grade F, #392 of 627 statewide, top 65%, 499 students, 70% FRL); Daleville Middle School (math 7% / reading 39%, grade F, #176 of 257 statewide, top 70%, 361 students, 72% FRL); Daleville High School (math 2% / reading 22%, grade F, #238 of 305 statewide, top 79%, 294 students, 60% FRL).
• Market conditions: 41 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 38 units permitted in Dale County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Dale County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,575 (16.6% 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 124 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $284,268
• List price: $195,000
• Delta: -31.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
81 Edgewood Dr	0.07mi	3/2.0	2,500 (+0%)	18mo	$225,000	$90	82

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.87×
• Total profit: $102,198
• Equity at exit: $175,671

10-year hold

• IRR: 20.8%
• Equity multiple: 6.57×
• Total profit: $304,173
• Equity at exit: $378,842

Cash invested: $54,600 (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 36322

• Home prices YoY: 31.4%
• Active inventory: 41
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,626 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-63

Break-even live

Break-even rent $1,706

Max offer price $185,846

Occupancy floor 99%

Sensitivity live

Price	-10% $72	-5% $4	+0% $-63	+5% $-131	+10% $-198
Rent	-10% $-192	-5% $-127	+0% $-63	+5% $1	+10% $65
Rate	-1.0pp $35	-0.5pp $-14	base $-63	+0.5pp $-114	+1.0pp $-165

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
469 Madison Ave Enterprise, AL	4.0	3.0	2130	$2,500	$1.17	45d	1	1.07mi

Listing history 7 events

1. 2026-06-02
   days on market $195,000 Active 124 DOM
2. 2026-06-01
   days on market $195,000 Active 123 DOM
3. 2026-05-31
   days on market $195,000 Active 122 DOM
4. 2026-05-30
   days on market $195,000 Active 121 DOM
5. 2026-04-22
   price $195,000 861-char remark

   Show marketing remark (861 chars)

   Built in 1979, this 2-bedroom, 2-bath home offers 2,496 square feet of living space filled with character and potential. The main living room features a wood-burning fireplace, while the huge family room includes a cast iron stove with gas logs. The two bonus rooms off the family room could be converted into additional bedroom and/or bathroom space. The kitchen is equipped with a gas range, and the primary bedroom is generously sized. Additional features include an indoor grill and a partial kitchen located in the garage, ideal for entertaining. There is also an underground storm shelter. Sitting on approximately 2 acres, the property is mostly fenced and includes two powered workshops, with one having a bathroom. Conveniently located just minutes from Boll Weevil Circle, approximately 12 minutes to Fort Rucker, and 25 minutes to Dothan. Sold As-Is.

6. 2026-03-31
   price $200,000 861-char remark

   Show marketing remark (861 chars)

   Built in 1979, this 2-bedroom, 2-bath home offers 2,496 square feet of living space filled with character and potential. The main living room features a wood-burning fireplace, while the huge family room includes a cast iron stove with gas logs. The two bonus rooms off the family room could be converted into additional bedroom and/or bathroom space. The kitchen is equipped with a gas range, and the primary bedroom is generously sized. Additional features include an indoor grill and a partial kitchen located in the garage, ideal for entertaining. There is also an underground storm shelter. Sitting on approximately 2 acres, the property is mostly fenced and includes two powered workshops, with one having a bathroom. Conveniently located just minutes from Boll Weevil Circle, approximately 12 minutes to Fort Rucker, and 25 minutes to Dothan. Sold As-Is.

7. 2026-01-28
   listed $215,000 Active 861-char remark

   Show marketing remark (861 chars)

   Built in 1979, this 2-bedroom, 2-bath home offers 2,496 square feet of living space filled with character and potential. The main living room features a wood-burning fireplace, while the huge family room includes a cast iron stove with gas logs. The two bonus rooms off the family room could be converted into additional bedroom and/or bathroom space. The kitchen is equipped with a gas range, and the primary bedroom is generously sized. Additional features include an indoor grill and a partial kitchen located in the garage, ideal for entertaining. There is also an underground storm shelter. Sitting on approximately 2 acres, the property is mostly fenced and includes two powered workshops, with one having a bathroom. Conveniently located just minutes from Boll Weevil Circle, approximately 12 minutes to Fort Rucker, and 25 minutes to Dothan. Sold As-Is.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $19,509
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − Depreciation: −$5,673
• Taxable loss: −$4,108
• Est. tax savings @ 24.0%: +$986
• After-tax cash flow: $227/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 1979 home has potential but requires moderate renovations to update the kitchen and bathrooms, and improve the landscaping and curb appeal.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major bathroom fixtures — dated and worn
• Major landscaping — bare yard, no landscaping

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom would attract more buyers
• Both landscaping and curb appeal — improving the yard and curb appeal would attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
landscaping · bare yard, no landscaping	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen would attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom would attract more buyers ↑
• Both landscaping and curb appeal — improving the yard and curb appeal would attract more buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Daleville City
• NCES district ID: 0101080
• Math proficiency: 9% ▼ -18.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $45,865
• Composite: 19.89/100
• National rank: #8687
• State rank: #97 of 129 in AL

Livability — Level Plains

• Score: 55/100
• State rank: #438
• US rank: #23383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Dale County · 7,959 people
• Metro: Ozark, AL
• Population (ZIP): 7,959
• Household income: $47,276
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 115.0

Population outlook (Dale County) Hauer SSP2

• Today (2025): 46,805 people
• By 2030: 45,176 · -3.5%
• By 2040: 41,523 · -11.3%
• By 2050: 37,575 · -19.7%
• By 2075: 28,931 · -38.2%
• By 2100: 22,172 · -52.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Black 23% Two or more races 9% Hispanic / Latino 7% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 1%
• Foreign-born: 5% · South Korea, China, Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 1% Korean 1%

Political lean MEDSL · Dale

• 2024 margin: Solid R (+52.3) · D 23.5% · R 75.8%
• 2008→2024 swing: -7.7pp toward R · 2008: -44.6pp · 2024: -52.3pp
• All cycles: 2024: R+52.3 2020: R+46.3 2016: R+50.4 2012: R+42.2 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 49.15%
• Current HPI: 205.6
• Rent YoY: —
• Metro: Ozark, 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

-9.3% since first listed

3 events — show timeline

• 2026-04-22 Price Changed $195,000 WBR
• 2026-03-31 Price Changed $200,000 WBR
• 2026-01-28 Listed $215,000 WBR