904 Hickory St · Greenville, AL 36037

$45,900

3 bd · 1.0 ba · 1,025 sqft · SingleFamily · 10 Days on market

Built 1970 Fair condition 7,048 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS! Well, what about this one? Here is your opportunity to build or expand your portfolio. With some renovations, this would be a great rental property of first-time home! Ideal for investors or those seeking a DIY project. A 3-bedroom, 1 bathroom home. Home is in need of repair.

Key facts

• 7,048 sq ft lot
• Parking
• Built 1970

Property features AI

Finance

• Financial info: Annual tax amount available

Exterior

• Parking: Parking pad (1)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story; Slab foundation; Brick construction; City lot
• Construction: Built (year from public records); Brick exterior; Slab foundation
• Exterior features: Covered porch

Interior

• Kitchen: Gas water heater
• Bedrooms: 1 room on the first level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Carpet and vinyl flooring; Porch entry
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Cap rate 19.2% vs local median 4.4% in Greenville — 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 58/100 on livability (#358 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Butler County (town): math 7% / reading 26% proficiency, ranked #113 of 129 in AL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 63 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 13 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $317 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Butler County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 92% 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 $45,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — 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. 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. 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: 2.24% ✓
• Cap rate: 19.21%
• Cash-on-cash: 46.14%
• DSCR: 3.05
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 43.4%
• Equity multiple: 2.87×
• Total profit: $24,050
• Equity at exit: $6,844

10-year hold

• IRR: 49.4%
• Equity multiple: 5.79×
• Total profit: $61,531
• Equity at exit: $3,969

Cash invested: $12,852 (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 36037

• Active inventory: 63
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$241
• Tax est. 1.5%: −$57 /mo · $688/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $494

Break-even live

Break-even rent $402

Max offer price $45,900

Occupancy floor 47%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
495 Perdue Pl Greenville, AL	2.0–3.0	1.0	1018	$1,099	$1.08	21d	1	0.23mi
340 Hickory St Unit B Greenville, AL	2.0	1.0	950	$850	$0.89	21d	1	0.54mi

Listing history 8 events

1. 2026-06-19
   days on market $45,900 Active 10 DOM
2. 2026-06-18
   days on market $45,900 Active 9 DOM
3. 2026-06-17
   days on market $45,900 Active 8 DOM
4. 2026-06-16
   days on market $45,900 Active 7 DOM
5. 2026-06-15
   days on market $45,900 Active 6 DOM
6. 2026-06-14
   days on market $45,900 Active 4 DOM
7. 2026-06-12
   remarks 298-char remark
8. 2026-06-12
   listed $45,900 Active 3 DOM

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 92% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,324
• − Mortgage interest: −$2,571
• − Property taxes: −$688
• − Insurance: −$230
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$1,335
• Taxable income: $5,528
• Est. tax owed @ 24.0%: −$1,327
• After-tax cash flow: $4,603/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 · 5 photos

Fair 45/100 Moderate rehab

This home requires significant repairs, particularly to the roof, and has moderate exterior paint issues. Addressing these will significantly increase its value for investors.

Repairs flagged

• Major roof — Significant damage and potential structural issues are visible in the independent image.
• Moderate exterior paint — The exterior walls show some discoloration and wear.

Value-add opportunities

• Both repair roof — Repairing the roof is critical for both resale and rental value, as it addresses a major safety and structural issue.
• Both paint exterior walls — Painting the exterior walls can improve curb appeal and add value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and potential structural issues are visible in the independent image.	Major	$15,000–50,000
exterior paint · The exterior walls show some discoloration and wear.	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both repair roof — Repairing the roof is critical for both resale and rental value, as it addresses a major safety and structural issue. ↑
• Both paint exterior walls — Painting the exterior walls can improve curb appeal and add value for both resale and rental. ↑

ⓘ 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: Butler County
• NCES district ID: 0100510
• Math proficiency: 7% ▼ -19.00%
• Reading proficiency: 26% ▼ -2.00%
• Median HH income: $32,919
• Composite: 13.31/100
• National rank: #9539
• State rank: #113 of 129 in AL

Livability — Greenville

• Score: 58/100
• State rank: #358
• US rank: #20993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, AL
• Population (ZIP): 12,974

Population outlook (Butler County) Hauer SSP2

• Today (2025): 18,662 people
• By 2030: 17,783 · -4.7%
• By 2040: 16,040 · -14.0%
• By 2050: 14,498 · -22.3%
• By 2075: 11,409 · -38.9%
• By 2100: 9,080 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (52%)
• Race & ethnicity: Black 52% White 43% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 3% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+22.7) · D 38.4% · R 61.1%
• 2008→2024 swing: -9.3pp toward R · 2008: -13.3pp · 2024: -22.7pp
• All cycles: 2024: R+22.7 2020: R+15.7 2016: R+13.5 2012: R+7.5 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.19%
• Current HPI: 91.9114
• 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

1 event — show timeline

• 2026-06-07 Listed $45,900 MAAR