531 W Laurel Ave · Foley, AL 36535

$679,000

6 bd · 6.0 ba · 3,743 sqft · MultiFamily public records · 646 Days on market

Built 1925 0.59 ac lot $181/sqft · 80% above area

---

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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Schools +3.9/10.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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 MLS

This charming six-plex, built in 1925, is a historical gem located just steps from Foley Downtown. With only four owners in nearly a century, this property sits on a little over half an acre. Currently operated as a 55+ community, it's consistently 100% occupied. Walking distance to Foley Elementary and Middle Schools, and downtown with all you need doctor's offices, vet clinic, restaurants, shops - you name it. South Baldwin Regional Medical Center, Police Department, Municipal Court, DMV, Riviera Utilities and more are located within 2 miles radius. The two-story building houses six units, each offering 1 bedroom and 1 bathroom and its own kitchen. Five units are on the main floor, while one occupies the upstairs level. All units come equipped with individual mini-split A/C systems. Coin laundry is available for common use. There's also a full basement, not in use by tenants, offering extra potential. Ample on-site parking is available for tenant convenience. Utilities are included in the tenant's monthly payments. The property underwent a renovation in 2018, with updated electrical, plumbing, sprinkler, and smoke detector systems, ensuring modern functionality in a historic setting. Buyer to verify all information during due diligence.

Key facts

• 0.59 acre lot
• Built 1925
• Listed 645 days

What this means for you Summary

Snapshot

• This is a 6 × 1-bed/1-bath units multifamily listed at $679k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $199/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $670k (1.3% below list).
• Recommended offer: $598k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.0% in Foley — 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 61/100 on livability (#241 in AL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A-, crime B; Watch: schools D+, employment D+, amenities F.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.8%/yr); 883 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• At $6,705/mo this rent would consume 121% of the median local household income ($67k/yr) (locally 803% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 646 days — a 12% lower offer ($598k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $60k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $597,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 646 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. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 8.40%
• Cash-on-cash: 7.52%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

• ARV (median comp): $377,759
• List price: $679,000
• Delta: 79.74%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.78×
• Total profit: $-42,359
• Equity at exit: $101,241

10-year hold

• IRR: 2.2%
• Equity multiple: 1.15×
• Total profit: $27,957
• Equity at exit: $58,708

Cash invested: $190,120 (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 36535

• Home prices YoY: -24.9%
• Rents YoY: 1.8%
• Active inventory: 883
• Price-to-rent: 50.6×

Monthly cashflow live

• Estimated rent: $6,705 medium
• Mortgage (P&I): −$3,561
• Tax from tax record: −$262 /mo · $3,146/yr
• Insurance: −$283
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,408
• Net cashflow: $1,191

Break-even live

Break-even rent $5,197

Max offer price $679,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,575	-5% $1,383	+0% $1,191	+5% $999	+10% $807
Rent	-10% $661	-5% $926	+0% $1,191	+5% $1,456	+10% $1,721
Rate	-1.0pp $1,533	-0.5pp $1,364	base $1,191	+0.5pp $1,015	+1.0pp $836

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

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$6,702
Total (6 units)			$6,705

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: $169,750
• Closing costs: $20,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
218 W Rosetta Ave Unit 1541215P Foley, AL	6.0	4.5	3993	$12,237	$3.06	22d	1	1.29mi

Listing history 33 events

1. 2026-06-21
   days on market $679,000 Active 646 DOM
2. 2026-06-19
   days on market $679,000 Active 644 DOM
3. 2026-06-18
   days on market $679,000 Active 643 DOM
4. 2026-06-17
   days on market $679,000 Active 642 DOM
5. 2026-06-16
   days on market $679,000 Active 641 DOM
6. 2026-06-15
   days on market $679,000 Active 640 DOM
7. 2026-06-14
   days on market $679,000 Active 638 DOM
8. 2026-06-13
   days on market $679,000 Active 637 DOM
9. 2026-06-10
   days on market $679,000 Active 635 DOM
10. 2026-06-09
    days on market $679,000 Active 634 DOM
11. 2026-06-08
    days on market $679,000 Active 633 DOM
12. 2026-06-07
    days on market $679,000 Active 632 DOM
13. 2026-06-03
    days on market $679,000 Active 628 DOM
14. 2026-06-02
    days on market $679,000 Active 627 DOM
15. 2026-06-01
    days on market $679,000 Active 626 DOM
16. 2026-05-31
    days on market $679,000 Active 625 DOM
17. 2026-05-30
    days on market $679,000 Active 624 DOM
18. 2025-07-16
    price $679,000 1258-char remark

    Show marketing remark (1258 chars)

    This charming six-plex, built in 1925, is a historical gem located just steps from Foley Downtown. With only four owners in nearly a century, this property sits on a little over half an acre. Currently operated as a 55+ community, it's consistently 100% occupied. Walking distance to Foley Elementary and Middle Schools, and downtown with all you need doctor's offices, vet clinic, restaurants, shops - you name it. South Baldwin Regional Medical Center, Police Department, Municipal Court, DMV, Riviera Utilities and more are located within 2 miles radius. The two-story building houses six units, each offering 1 bedroom and 1 bathroom and its own kitchen. Five units are on the main floor, while one occupies the upstairs level. All units come equipped with individual mini-split A/C systems. Coin laundry is available for common use. There's also a full basement, not in use by tenants, offering extra potential. Ample on-site parking is available for tenant convenience. Utilities are included in the tenant's monthly payments. The property underwent a renovation in 2018, with updated electrical, plumbing, sprinkler, and smoke detector systems, ensuring modern functionality in a historic setting. Buyer to verify all information during due diligence.

19. 2025-05-24
    price $699,000 1258-char remark

    Show marketing remark (1258 chars)

    This charming six-plex, built in 1925, is a historical gem located just steps from Foley Downtown. With only four owners in nearly a century, this property sits on a little over half an acre. Currently operated as a 55+ community, it's consistently 100% occupied. Walking distance to Foley Elementary and Middle Schools, and downtown with all you need doctor's offices, vet clinic, restaurants, shops - you name it. South Baldwin Regional Medical Center, Police Department, Municipal Court, DMV, Riviera Utilities and more are located within 2 miles radius. The two-story building houses six units, each offering 1 bedroom and 1 bathroom and its own kitchen. Five units are on the main floor, while one occupies the upstairs level. All units come equipped with individual mini-split A/C systems. Coin laundry is available for common use. There's also a full basement, not in use by tenants, offering extra potential. Ample on-site parking is available for tenant convenience. Utilities are included in the tenant's monthly payments. The property underwent a renovation in 2018, with updated electrical, plumbing, sprinkler, and smoke detector systems, ensuring modern functionality in a historic setting. Buyer to verify all information during due diligence.

20. 2024-09-13
    listed $739,000 Active 1258-char remark

    Show marketing remark (1258 chars)

    This charming six-plex, built in 1925, is a historical gem located just steps from Foley Downtown. With only four owners in nearly a century, this property sits on a little over half an acre. Currently operated as a 55+ community, it's consistently 100% occupied. Walking distance to Foley Elementary and Middle Schools, and downtown with all you need doctor's offices, vet clinic, restaurants, shops - you name it. South Baldwin Regional Medical Center, Police Department, Municipal Court, DMV, Riviera Utilities and more are located within 2 miles radius. The two-story building houses six units, each offering 1 bedroom and 1 bathroom and its own kitchen. Five units are on the main floor, while one occupies the upstairs level. All units come equipped with individual mini-split A/C systems. Coin laundry is available for common use. There's also a full basement, not in use by tenants, offering extra potential. Ample on-site parking is available for tenant convenience. Utilities are included in the tenant's monthly payments. The property underwent a renovation in 2018, with updated electrical, plumbing, sprinkler, and smoke detector systems, ensuring modern functionality in a historic setting. Buyer to verify all information during due diligence.

21. 2023-09-25
    listed $639,000 Active
22. 2023-02-21
    price $639,000
23. 2022-10-06
    price $649,000
24. 2022-09-20
    status Active
25. 2022-09-20
    status Pending
26. 2022-09-19
    status Active
27. 2022-08-25
    status Pending
28. 2022-08-05
    price $589,000
29. 2022-02-19
    price $640,000
30. 2022-01-02
    price $635,000
31. 2021-12-15
    price $640,000
32. 2021-11-15
    listed $650,000 Active
33. 2016-01-08
    listed $196,900

ⓘ 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: $3,146 · $262/mo
• Projected year-2 tax: $3,146 · $262/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 10/10 Extreme 6 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $80,460
• − Mortgage interest: −$38,035
• − Property taxes: −$3,146
• − Insurance: −$3,395
• − Repairs & maintenance: −$6,437
• − Management: −$6,437
• − Depreciation: −$19,753
• Taxable income: $3,258
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $13,511/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Foley

• Score: 61/100
• State rank: #241
• US rank: #17616

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Foley, AL
• County: Baldwin County · 181,514 people
• City population: 40,628
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 40,628
• Household income: $66,714
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 803.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 8% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -86.82%
• Current HPI: 262.2796
• Rent YoY: ▲ 1.81%
• Metro: Daphne-Fairhope-Foley, 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

+244.8% since first listed

16 events — show timeline

• 2025-07-16 Price Changed $679,000 BCAR
• 2025-05-24 Price Changed $699,000 BCAR
• 2024-09-13 Listed $739,000 BCAR
• 2023-09-25 Listed $639,000 BCAR
• 2023-02-21 Price Changed $639,000 BCAR
• 2022-10-06 Price Changed $649,000 BCAR
• 2022-09-20 Relisted — BCAR
• 2022-09-20 Pending — BCAR
• 2022-09-19 Relisted — BCAR
• 2022-08-25 Pending — BCAR
• 2022-08-05 Price Changed $589,000 BCAR
• 2022-02-19 Price Changed $640,000 BCAR
• 2022-01-02 Price Changed $635,000 BCAR
• 2021-12-15 Price Changed $640,000 BCAR
• 2021-11-15 Listed $650,000 BCAR
• 2016-01-08 Listed $196,900 BCAR

Property tax history

+14.9%/yr

Latest (2025): $3,146 · +14.0% YoY. Source: county tax records.