2009 10th St SE · Decatur, AL 35601

$119,900

2 bd · 1.0 ba · 850 sqft · SingleFamily public records · 43 Days on market

Built 1956 $141/sqft · at area comps Est $125k · at est. ↓ 4% 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 +19.8/30.0
• ARV discount +9.4/15.0
• DSCR +6.3/10.0
• 1% rule +4.1/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for an investment property or the perfect chance to create your own charming bungalow! This 2 bedroom, 1 full bath home sits on a large corner lot with a huge backyard offering endless possibilities for outdoor entertaining, gardening, or future additions. With a little vision and TLC, this home could quickly become a super desirable and beautiful place to call home. Whether you are looking to invest, renovate, or downsize into something cozy and full of character, this property is packed with potential. Don’t miss this chance to turn opportunity into value!

Key facts

• Large corner lot
• Outdoor entertaining
• Huge backyard

Tags

• LARGE CORNER LOT
• HUGE BACKYARD
• OUTDOOR ENTERTAINING
• PACKED WITH POTENTIAL

Property features AI

Finance

• Other: Lot dimensions approximately 80 x 150 x 80 x 150
• HOA & community: No homeowners association; Subdivision: Wilder Place

Exterior

• Parking: Attached carport (1 car); Concrete driveway; On-street parking
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Single-family residence; One story; Built in 1956; Brick construction
• Construction: Brick exterior; One-level home; Built in 1956
• Exterior features: Concrete driveway; Corner lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central cooling
• Interior features: Crawl space basement; No fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $142 ($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 $109k (8.8% below list).
• Recommended offer: $109k (8.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oak Park Elementary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 503 students, 84% FRL); Decatur Middle School (math 17% / reading 36%, grade F, #150 of 257 statewide, top 60%, 815 students, 77% FRL); Decatur High School (math 27% / reading 27%, grade F, #90 of 305 statewide, top 35%, 1,040 students, 67% FRL) — zoned schools average 76% FRL vs 57% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,330 (8.8% below list)

Questions for the listing agent

1. It's been on market 43 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 1956 — 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: 0.91% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 9.1

CMA / ARV

• ARV (median comp): $125,298
• List price: $119,900
• Delta: -4.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Broadus Ave	0.21mi	2/1.0	836 (-2%)	6mo	$128,000	$153	83
1216 20th Ave SE	0.12mi	2/1.0	750 (-12%)	4mo	$90,000	$120	71
2004 Harrison St	0.06mi	3/1.0 (+1)	945 (+11%)	4mo	$99,000	$105	70
1821 SE 7th St	0.39mi	3/1.0 (+1)	876 (+3%)	6mo	$86,405	$99	66
1203 20th Ave SE	0.19mi	2/1.0	724 (-15%)	1mo	$119,900	$166	66
1406 20th Ave SE	0.11mi	3/1.0 (+1)	975 (+15%)	3mo	$151,000	$155	63
1917 8th St SE	0.22mi	3/1.0 (+1)	926 (+9%)	23mo	$95,000	$103	51
1911 Harrison St SE	0.11mi	3/1.0 (+1)	967 (+14%)	23mo	$166,900	$173	47
1708 Loring Ave SE	0.65mi	2/1.0	900 (+6%)	15mo	$102,200	$114	47
1803 College St SE	0.49mi	2/1.0	903 (+6%)	24mo	$127,500	$141	47

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.74×
• Total profit: $-8,575
• Equity at exit: $17,877

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $11,898
• Equity at exit: $10,367

Cash invested: $33,572 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 223
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,093 high
• Mortgage (P&I): −$629
• Tax from tax record: −$43 /mo · $517/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $142

Break-even live

Break-even rent $914

Max offer price $119,900

Occupancy floor 82%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Pennylane SE Decatur, AL	3.0	1.5	1100	$1,198	$1.09	23d	1	0.10mi
1821 7th St SE Decatur, AL	3.0	1.0	908	$1,100	$1.21	23d	1	0.39mi
1628 8th St SE Decatur, AL	2.0	1.0	1012	$1,200	$1.19	44d	1	0.40mi
2234 Harrison St SE Decatur, AL	2.0	1.0	850	$925	$1.09	14d	1	0.50mi
1221 North St SE Decatur, AL	2.0	1.0	937	$775	$0.83	44d	2	0.68mi
1018 Grant St SE Unit 1026-4 Decatur, AL	2.0	1.0	890	$800	$0.90	44d	1	1.35mi
1018 Grant St SE Unit 1018-4 Decatur, AL	2.0	1.0	890	$775	$0.87	44d	1	1.37mi
818 Grant St SE Decatur, AL	2.0	1.0	910	$1,300	$1.43	44d	1	1.46mi
719 5th Ave SE #1 Decatur, AL	1.0	1.0	700	$850	$1.21	44d	1	1.46mi

Listing history 19 events

1. 2026-06-19
   days on market $119,900 Active 43 DOM
2. 2026-06-18
   days on market $119,900 Active 42 DOM
3. 2026-06-17
   days on market $119,900 Active 41 DOM
4. 2026-06-17
   price $119,900 Active 40 DOM
5. 2026-06-16
   days on market $124,900 Active 40 DOM
6. 2026-06-15
   days on market $124,900 Active 39 DOM
7. 2026-06-14
   days on market $124,900 Active 37 DOM
8. 2026-06-13
   days on market $124,900 Active 36 DOM
9. 2026-06-10
   days on market $124,900 Active 34 DOM
10. 2026-06-09
    days on market $124,900 Active 33 DOM
11. 2026-06-08
    days on market $124,900 Active 32 DOM
12. 2026-06-07
    days on market $124,900 Active 31 DOM
13. 2026-06-05
    days on market $124,900 Active 28 DOM
14. 2026-06-03
    days on market $124,900 Active 27 DOM
15. 2026-06-02
    days on market $124,900 Active 26 DOM
16. 2026-06-01
    days on market $124,900 Active 25 DOM
17. 2026-05-31
    days on market $124,900 Active 24 DOM
18. 2026-05-30
    days on market $124,900 Active 23 DOM
19. 2026-05-07
    listed $124,900 Active 588-char remark

ⓘ 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: $517 · $43/mo
• Projected year-2 tax: $517 · $43/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $13,120
• − Mortgage interest: −$6,716
• − Property taxes: −$517
• − Insurance: −$600
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$3,488
• Taxable loss: −$301
• Est. tax savings @ 24.0%: +$72
• After-tax cash flow: $1,775/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

-4.0% since first listed

2 events — show timeline

• 2026-06-16 Price Changed $119,900 VMLS
• 2026-05-07 Listed $124,900 VMLS

Property tax history

-6.4%/yr

Latest (2025): $517 · +0.0% YoY. Source: county tax records.