3001 E 19th Ave · Sheffield, AL 35660

$1,899,990

None bd · None ba · 6,764 sqft · MultiFamily public records · 22 Days on market

Built 1950 3.67 ac 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 +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 50 units. confirmed

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

Exceptional value-add investment opportunity featuring a 50-unit apartment complex across 7 buildings occupying an entire city block with road frontage on four sides. Prime location next to the elementary and middle schools and just steps from the community pool and tennis courts, making this an attractive future rental location for tenants. Investor special with tremendous upside potential. Current owner vacated all units in preparation for a large-scale renovation project; however, unexpected circumstances have created an opportunity for a new investor to step in and complete the vision. Property is priced for a quick sale. With multiple new companies and continued growth coming to the ar

Key facts

• High cap rates
• 7 buildings
• 3.67 acre lot

Tags

• 50 UNIT APARTMENT COMPLEX
• 7 BUILDINGS
• ROAD FRONTAGE ON FOUR SIDES
• LARGE SCALE RENOVATION PROJECT
• HIGH CAP RATES

Property features AI

Finance

• Other: Located at corner of E. 19th Ave. and Annapolis Ave. (directions provided)
• Financial info: Annual tax approximately $19,012.77

Exterior

• Utilities: Public sewer
• Home design: Residential income property; Apartment complex
• Construction: No construction details provided
• Exterior features: Approximately 3.67 acres; Lot dimensions about 400 x 400; Zoned M1

What this means for you Summary

Snapshot

• This is a 50 × 1-bed/1-bath units multifamily listed at $1.90M.

Deal economics

• At list price, monthly cash flow is $17k ($209k/yr) — positive. Per door: $348/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($38k rent vs $1.90M).
• Recommended offer: $1.87M (1.5% below list) — sets the bar for market timing.
• Cap rate 17.3% vs local median 5.1% in Sheffield — 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 60/100 on livability (#312 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Sheffield City (suburban): math 12% / reading 34% proficiency, ranked #103 of 129 in AL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sheffield Junior High School (math 2% / reading 32%, grade F, #200 of 257 statewide, top 78%, 186 students, 84% FRL); Sheffield High School (math 15% / reading 15%, grade F, #212 of 305 statewide, top 70%, 278 students, 66% FRL) — zoned schools at 75% FRL track the district average.
• Market conditions: 115 active listings in the ZIP; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $13k of loan paydown is wiped out by about $57k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $532k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($1.87M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $768k; list at $1.90M implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $1,871,490 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.98% ✓
• Cap rate: 17.27%
• Cash-on-cash: 39.22%
• DSCR: 2.75
• GRM: 4.2

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: 35.5%
• Equity multiple: 2.50×
• Total profit: $799,595
• Equity at exit: $283,295

10-year hold

• IRR: 42.2%
• Equity multiple: 4.99×
• Total profit: $2,122,552
• Equity at exit: $164,276

Cash invested: $531,997 (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 35660

• Home prices YoY: -29.5%
• Active inventory: 115
• Price-to-rent: 210.4×

Monthly cashflow live

• Estimated rent: $37,629 high
• Mortgage (P&I): −$9,964
• Tax from tax record: −$1,584 /mo · $19,013/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,902
• Net cashflow: $17,387

Break-even live

Break-even rent $15,620

Max offer price $1,899,990

Occupancy floor 49%

Sensitivity live

Price	-10% $18,463	-5% $17,925	+0% $17,387	+5% $16,849	+10% $16,312
Rent	-10% $14,414	-5% $15,901	+0% $17,387	+5% $18,873	+10% $20,360
Rate	-1.0pp $18,344	-0.5pp $17,870	base $17,387	+0.5pp $16,895	+1.0pp $16,394

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

Units	Beds	Baths	Est. rent
▸ 50× units	1	1	$37,650
Total (50 units)			$37,629

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: $474,998
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $1,899,990 Active 22 DOM
2. 2026-06-18
   days on market $1,899,990 Active 21 DOM
3. 2026-06-17
   days on market $1,899,990 Active 20 DOM
4. 2026-06-16
   days on market $1,899,990 Active 19 DOM
5. 2026-06-15
   days on market $1,899,990 Active 18 DOM
6. 2026-06-14
   days on market $1,899,990 Active 16 DOM
7. 2026-06-13
   days on market $1,899,990 Active 15 DOM
8. 2026-06-10
   days on market $1,899,990 Active 13 DOM
9. 2026-06-09
   days on market $1,899,990 Active 12 DOM
10. 2026-06-08
    days on market $1,899,990 Active 11 DOM
11. 2026-06-07
    days on market $1,899,990 Active 10 DOM
12. 2026-06-05
    days on market $1,899,990 Active 7 DOM
13. 2026-06-02
    days on market $1,899,990 Active 5 DOM
14. 2026-06-01
    days on market $1,899,990 Active 4 DOM
15. 2026-05-31
    days on market $1,899,990 Active 3 DOM
16. 2026-05-30
    days on market $1,899,990 Active 2 DOM
17. 2026-05-27
    listed $1,899,990 Active
18. 2024-06-07
    historical $650
19. 2024-05-01
    listed $650
20. 2024-03-17
    historical $650
21. 2024-03-15
    listed $650
22. 2024-01-28
    historical $650
23. 2024-01-14
    listed $650
24. 2023-12-30
    historical $650
25. 2023-12-30
    listed $650
26. 2006-12-29
    soldstatus $768,000
27. 2006-10-02
    listed $999,900
28. 2006-03-07
    listed $999,900
29. 2005-11-16
    listed $999,000

ⓘ 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: $19,013 · $1,584/mo
• Projected year-2 tax: $19,013 · $1,584/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% 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: $451,548
• − Mortgage interest: −$106,429
• − Property taxes: −$19,013
• − Insurance: −$9,500
• − Repairs & maintenance: −$36,124
• − Management: −$36,124
• − Depreciation: −$55,272
• Taxable income: $189,086
• Est. tax owed @ 24.0%: −$45,381
• After-tax cash flow: $163,264/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: Sheffield City
• NCES district ID: 0103000
• Math proficiency: 12% ▼ -30.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $34,188
• Composite: 18.8/100
• National rank: #8866
• State rank: #103 of 129 in AL

Livability — Sheffield

• Score: 60/100
• State rank: #312
• US rank: #19366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield, AL
• City population: 9,385
• Population (ZIP): 9,385

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.23%
• Current HPI: 177.3226
• 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

+90.2% since first listed

13 events — show timeline

• 2026-05-27 Listed $1,899,990 SAARMLS
• 2024-06-07 Rental Removed $650 APPFOLIO
• 2024-05-01 Listed for Rent $650 APPFOLIO
• 2024-03-17 Rental Removed $650 APPFOLIO
• 2024-03-15 Listed for Rent $650 APPFOLIO
• 2024-01-28 Rental Removed $650 APPFOLIO
• 2024-01-14 Listed for Rent $650 APPFOLIO
• 2023-12-30 Rental Removed $650 APPFOLIO
• 2023-12-30 Listed for Rent $650 APPFOLIO
• 2006-12-29 Sold (Public Records) $768,000 Public Records
• 2006-10-02 Listed $999,900 SAARMLS
• 2006-03-07 Listed $999,900 SAARMLS
• 2005-11-16 Listed $999,000 SAARMLS

Property tax history

+7.8%/yr

Latest (2025): $19,013 · +80.0% YoY. Source: county tax records.