3506 Georgia Ave · Gadsden, AL 35904

$66,800

2 bd · 1.0 ba · 1,126 sqft · SingleFamily public records · 54 Days on market

Built 1945 8,276 sqft lot $59/sqft · 6% below area Est $71k · 6% under ↓ 29% 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).

• Cash flow +27.7/30.0
• ARV discount +10.2/15.0
• DSCR +9.7/10.0
• 1% rule +6.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A welcoming blend of comfort and character, this 2-bedroom, 1 & 1/2 -bath bungalow offers easy single-story living in a thoughtfully designed layout. Ideal for first-time buyers, downsizers, or anyone seeking a low-maintenance home with timeless appeal. This cozy home offers a dining room, galley kitchen and bonus room, covered carport, covered front porch, backyard patio. This would also make a fantastic investment property. This home is convenient to US Hwy 59.

Key facts

• 8,276 sq ft lot
• Parking
• Built 1945

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $67k.

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 ($750 rent vs $67k).
• Recommended offer: $65k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools C-, crime F, amenities F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 84 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $462 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Etowah County population projected at -12% 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 $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($65k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $64,796 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1945 — 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. 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?
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: 1.12% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 7.4

CMA / ARV

• ARV (median comp): $71,130
• List price: $66,800
• Delta: -6.09%
• 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
3600 Madison Ave	0.12mi	2/1.0	1,208 (+7%)	1mo	$45,000	$37	81
317 Grady St	0.23mi	3/1.0 (+1)	1,050 (-7%)	4mo	$30,000	$29	70
507 Bryan St	0.38mi	2/1.5	1,095 (-3%)	10mo	$36,000	$33	67
3806 Madison Ave	0.23mi	2/1.5	1,200 (+7%)	16mo	$107,000	$89	63
3604 W Meighan Blvd	0.48mi	3/1.0 (+1)	1,184 (+5%)	21mo	$110,000	$93	47
500 Lincoln St	0.53mi	3/1.0 (+1)	1,170 (+4%)	22mo	$127,900	$109	45
3817 W Meighan Blvd	0.38mi	3/1.0 (+1)	1,012 (-10%)	20mo	$43,500	$43	44
3602 W Meighan Blvd	0.49mi	3/2.0 (+1)	1,200 (+7%)	22mo	$104,000	$87	39
3604 Western Ave	0.54mi	2/2.0	1,266 (+12%)	19mo	$129,900	$103	35

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $1,918
• Equity at exit: $9,960

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $17,990
• Equity at exit: $5,776

Cash invested: $18,704 (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 35904

• Home prices YoY: -17.1%
• Active inventory: 84
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $750 medium
• Mortgage (P&I): −$350
• Tax from tax record: −$14 /mo · $166/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$158
• Net cashflow: $201

Break-even live

Break-even rent $496

Max offer price $66,800

Occupancy floor 68%

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: $16,700
• Closing costs: $2,004
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Pearl St Gadsden, AL	2.0	1.0	903	$750	$0.83	43d	1	0.58mi

Listing history 6 events

1. 2026-06-02
   statusdays on market $66,800 Pending 54 DOM
2. 2026-06-01
   days on market $66,800 Active 53 DOM
3. 2026-05-31
   days on market $66,800 Active 52 DOM
4. 2026-05-31
   days on market $66,800 Active 51 DOM
5. 2026-05-13
   price $66,800 471-char remark

   Show marketing remark (471 chars)

   A welcoming blend of comfort and character, this 2-bedroom, 1 & 1/2 -bath bungalow offers easy single-story living in a thoughtfully designed layout. Ideal for first-time buyers, downsizers, or anyone seeking a low-maintenance home with timeless appeal. This cozy home offers a dining room, galley kitchen and bonus room, covered carport, covered front porch, backyard patio. This would also make a fantastic investment property. This home is convenient to US Hwy 59.

6. 2026-04-10
   listed $94,000 Active 471-char remark

   Show marketing remark (471 chars)

   A welcoming blend of comfort and character, this 2-bedroom, 1 & 1/2 -bath bungalow offers easy single-story living in a thoughtfully designed layout. Ideal for first-time buyers, downsizers, or anyone seeking a low-maintenance home with timeless appeal. This cozy home offers a dining room, galley kitchen and bonus room, covered carport, covered front porch, backyard patio. This would also make a fantastic investment property. This home is convenient to US Hwy 59.

ⓘ 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: $166 · $14/mo
• Projected year-2 tax: $274 · $23/mo
• Expected delta: +$108/yr (+$9/mo · 65.4%)

ⓘ 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 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,000
• − Mortgage interest: −$3,742
• − Property taxes: −$166
• − Insurance: −$334
• − Repairs & maintenance: −$720
• − Management: −$720
• − Depreciation: −$1,943
• Taxable income: $1,375
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $2,077/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 13,571

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 13% Hispanic / Latino 8% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.06%
• Current HPI: 213.3981
• 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

-28.9% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $66,800 VMLS
• 2026-04-10 Listed $94,000 VMLS

Property tax history

+1.1%/yr

Latest (2025): $166 · +0.0% YoY. Source: county tax records.