1283 Summerville Rd · Jasper, AL 35504

$349,900

None bd · None ba · 3,418 sqft · MultiFamily public records · 225 Days on market

Built 1994 ↓ 18% 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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

Key facts

• Listed 225 days

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $681 ($8k/yr) — positive. Per door: $170/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.8% in Jasper — 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 62/100 on livability (#228 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, crime F.
• Walker County (rural): math 13% / reading 39% proficiency, ranked #89 of 129 in AL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 161 active listings in the ZIP; 36 units permitted in Walker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Walker County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $314/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D-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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 7.5

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-13,268
• Equity at exit: $52,171

10-year hold

• IRR: 6.1%
• Equity multiple: 1.45×
• Total profit: $44,470
• Equity at exit: $30,253

Cash invested: $97,972 (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 35504

• Home prices YoY: -34.0%
• Active inventory: 161
• Price-to-rent: 30.1×

Monthly cashflow live

• Estimated rent: $3,876 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$146
• Flood insurance flood zone: −$314 /mo · $3,765/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$814
• Net cashflow: $681

Break-even live

Break-even rent $3,014

Max offer price $349,900

Occupancy floor 77%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,938
▸ 2× units	1	1	$1,938
Total (4 units)			$3,876

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $349,900 Active 225 DOM
2. 2026-06-17
   days on market $349,900 Active 224 DOM
3. 2026-06-16
   days on market $349,900 Active 223 DOM
4. 2026-06-15
   days on market $349,900 Active 222 DOM
5. 2026-06-13
   days on market $349,900 Active 220 DOM
6. 2026-06-13
   pricedays on market $349,900 Active 219 DOM
7. 2026-06-10
   days on market $359,900 Active 217 DOM
8. 2026-06-09
   days on market $359,900 Active 216 DOM
9. 2026-06-08
   days on market $359,900 Active 215 DOM
10. 2026-06-07
    days on market $359,900 Active 214 DOM
11. 2026-06-05
    days on market $359,900 Active 211 DOM
12. 2026-06-03
    days on market $359,900 Active 210 DOM
13. 2026-06-03
    pricedays on market $359,900 Active 209 DOM
14. 2026-06-01
    days on market $369,900 Active 208 DOM
15. 2026-05-31
    days on market $369,900 Active 207 DOM
16. 2026-01-26
    price $369,900 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

17. 2026-01-09
    price $379,900 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

18. 2025-12-10
    price $389,900 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

19. 2025-11-25
    price $399,900 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

20. 2025-11-19
    price $425,000 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

21. 2025-11-05
    listed $450,000 Active 263-char remark

    Show marketing remark (263 chars)

    Investor special! Highly sought after 4 unit apartment complex located minutes from the city of Jasper. Each unit currently rented and producing income! Summerville Manor has (2) 2 bedroom/ 1bath units and (2) 1 bedroom/ 1 bath units. Call today for full details!

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $1,435 · $120/mo
• Expected delta: +$400/yr (+$33/mo · 38.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone A · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,512
• − Mortgage interest: −$19,600
• − Property taxes: −$1,035
• − Insurance: −$5,514
• − Repairs & maintenance: −$3,721
• − Management: −$3,721
• − Depreciation: −$10,179
• Taxable income: $2,742
• Est. tax owed @ 24.0%: −$658
• After-tax cash flow: $7,518/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: Walker County
• NCES district ID: 0103450
• Math proficiency: 13% ▼ -28.00%
• Reading proficiency: 39% ▼ -5.00%
• Median HH income: $36,664
• Composite: 21.51/100
• National rank: #8321
• State rank: #89 of 129 in AL

Livability — Jasper

• Score: 62/100
• State rank: #228
• US rank: #17152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 9,927
• Population (ZIP): 13,505

Population outlook (Walker County) Hauer SSP2

• Today (2025): 61,037 people
• By 2030: 58,391 · -4.3%
• By 2040: 53,080 · -13.0%
• By 2050: 48,031 · -21.3%
• By 2075: 37,799 · -38.1%
• By 2100: 29,001 · -52.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Walker

• 2024 margin: Solid R (+71.8) · D 13.8% · R 85.6%
• 2008→2024 swing: -25.4pp toward R · 2008: -46.4pp · 2024: -71.8pp
• All cycles: 2024: R+71.8 2020: R+67.9 2016: R+67.4 2012: R+52.9 2008: R+46.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.42%
• Current HPI: 164.0387
• 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

-17.8% since first listed

6 events — show timeline

• 2026-01-26 Price Changed $369,900 Walker County Area MLS
• 2026-01-09 Price Changed $379,900 Walker County Area MLS
• 2025-12-10 Price Changed $389,900 Walker County Area MLS
• 2025-11-25 Price Changed $399,900 Walker County Area MLS
• 2025-11-19 Price Changed $425,000 Walker County Area MLS
• 2025-11-05 Listed $450,000 Walker County Area MLS

Property tax history

+2.1%/yr

Latest (2024): $1,035 · +0.0% YoY. Source: county tax records.