910 SW 2nd St · Reform, AL 35481

$129,900

3 bd · 1.0 ba · 1,526 sqft · SingleFamily public records · 260 Days on market

Built 1945 $85/sqft · 20% above area Est $108k · 20% over

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Why this score? — see what drove the D 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 +17.9/30.0
• Appreciation +6.7/10.0
• DSCR +5.6/10.0
• 1% rule +3.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

Key facts

• Formal living room
• Detached garage
• Garage

Tags

• FORMAL LIVING ROOM
• DETACHED GARAGE
• ADDITIONAL STORAGE SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $110 ($1k/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 $112k (13.6% below list).
• Recommended offer: $112k (13.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#238 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, schools F, amenities F.
• Pickens County (rural): math 7% / reading 31% proficiency, ranked #108 of 129 in AL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 23 active listings in the ZIP; 2 units permitted in Pickens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.4% local appreciation)).
• Pickens County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,269 (13.6% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 14% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.86% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.64%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (median comp): $108,107
• List price: $129,900
• Delta: 20.16%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 2nd St SW	0.32mi	2/1.5 (-1)	1,386 (-9%)	3mo	$41,250	$30	60
402 3rd Avenue Southeast	0.61mi	3/1.5	1,315 (-14%)	7mo	$95,000	$72	41
208 1st St N	0.74mi	2/2.0 (-1)	1,488 (-2%)	16mo	$125,000	$84	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.70×
• Total profit: $25,422
• Equity at exit: $61,382

10-year hold

• IRR: 13.8%
• Equity multiple: 3.12×
• Total profit: $77,174
• Equity at exit: $96,977

Cash invested: $36,372 (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 35481

• Home prices YoY: 2.4%
• Active inventory: 23
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$41 /mo · $494/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $110

Break-even live

Break-even rent $983

Max offer price $129,900

Occupancy floor 85%

Sensitivity live

Price	-10% $184	-5% $147	+0% $110	+5% $74	+10% $37
Rent	-10% $22	-5% $66	+0% $110	+5% $155	+10% $199
Rate	-1.0pp $176	-0.5pp $144	base $110	+0.5pp $77	+1.0pp $43

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-21
   days on market $129,900 Active 260 DOM
2. 2026-06-19
   days on market $129,900 Active 258 DOM
3. 2026-06-18
   days on market $129,900 Active 257 DOM
4. 2026-06-17
   days on market $129,900 Active 256 DOM
5. 2026-06-16
   days on market $129,900 Active 255 DOM
6. 2026-06-15
   days on market $129,900 Active 254 DOM
7. 2026-06-14
   days on market $129,900 Active 252 DOM
8. 2026-06-12
   days on market $129,900 Active 251 DOM
9. 2026-06-09
   days on market $129,900 Active 248 DOM
10. 2026-06-08
    days on market $129,900 Active 247 DOM
11. 2026-06-07
    days on market $129,900 Active 246 DOM
12. 2026-06-05
    days on market $129,900 Active 243 DOM
13. 2026-06-03
    days on market $129,900 Active 242 DOM
14. 2026-06-02
    days on market $129,900 Active 241 DOM
15. 2026-06-01
    days on market $129,900 Active 240 DOM
16. 2026-05-31
    days on market $129,900 Active 239 DOM
17. 2026-05-30
    days on market $129,900 Active 238 DOM
18. 2026-04-04
    status Active 171-char remark

    Show marketing remark (171 chars)

    Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

19. 2026-04-04
    price $129,900 171-char remark

    Show marketing remark (171 chars)

    Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

20. 2026-03-22
    historical 171-char remark

    Show marketing remark (171 chars)

    Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

21. 2025-10-19
    price $139,900 171-char remark

    Show marketing remark (171 chars)

    Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

22. 2025-09-22
    listed $149,900 Active 171-char remark

    Show marketing remark (171 chars)

    Charming 3-bedroom, 2-bathroom craftsman bungalow, recently updated throughout. Features a formal living room plus den and a detached garage with additional storage space.

23. 2023-07-07
    soldstatus $100,000 Closed 489-char remark

    Show marketing remark (489 chars)

    Charming craftsman/bungalow style, 3 bedroom, 2 bath home on 1 acre +/- in Reform. Large kitchen with wood block countertops and lots of cabinet, countertop and shelf space. Metal roof installed in 2020. Other recent improvements included some new wiring, new plugs, switches, light fixtures and water heater! Laminate vinyl plank installed throughout. Separate formal living and dining room. Laundry area in hallway. Detached carport and shed big enough to be converted to a in-law suite.

24. 2023-06-10
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Charming craftsman/bungalow style, 3 bedroom, 2 bath home on 1 acre +/- in Reform. Large kitchen with wood block countertops and lots of cabinet, countertop and shelf space. Metal roof installed in 2020. Other recent improvements included some new wiring, new plugs, switches, light fixtures and water heater! Laminate vinyl plank installed throughout. Separate formal living and dining room. Laundry area in hallway. Detached carport and shed big enough to be converted to a in-law suite.

25. 2023-05-16
    listed $105,000 Active 489-char remark

    Show marketing remark (489 chars)

    Charming craftsman/bungalow style, 3 bedroom, 2 bath home on 1 acre +/- in Reform. Large kitchen with wood block countertops and lots of cabinet, countertop and shelf space. Metal roof installed in 2020. Other recent improvements included some new wiring, new plugs, switches, light fixtures and water heater! Laminate vinyl plank installed throughout. Separate formal living and dining room. Laundry area in hallway. Detached carport and shed big enough to be converted to a in-law suite.

26. 2022-02-14
    soldstatus $60,000
27. 2021-09-29
    listed $77,000

ⓘ 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: $494 · $41/mo
• Projected year-2 tax: $533 · $44/mo
• Expected delta: +$39/yr (+$3/mo · 7.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 53% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,472
• − Mortgage interest: −$7,276
• − Property taxes: −$494
• − Insurance: −$650
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$3,779
• Taxable loss: −$882
• Est. tax savings @ 24.0%: +$212
• After-tax cash flow: $1,537/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: Pickens County
• NCES district ID: 0102730
• Math proficiency: 7% ▼ -19.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $31,043
• Composite: 15.18/100
• National rank: #9342
• State rank: #108 of 129 in AL

Livability — Reform

• Score: 61/100
• State rank: #238
• US rank: #17525

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Reform, AL
• Population (ZIP): 2,909

Population outlook (Pickens County) Hauer SSP2

• Today (2025): 23,794 people
• By 2030: 25,224 · +6.0%
• By 2040: 27,833 · +17.0%
• By 2050: 30,077 · +26.4%
• By 2075: 34,120 · +43.4%
• By 2100: 35,388 · +48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 48% Black 46% Two or more races 4%
• Common ancestry: Slovak 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pickens

• 2024 margin: Strong R (+23.3) · D 38.1% · R 61.4%
• 2008→2024 swing: -15.0pp toward R · 2008: -8.3pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+16.3 2016: R+15.6 2012: R+7.0 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.40%
• Current HPI: 143.9504
• 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

+68.7% since first listed

10 events — show timeline

• 2026-04-04 Relisted — Walker County Area MLS
• 2026-04-04 Price Changed $129,900 Walker County Area MLS
• 2026-03-22 Delisted — Walker County Area MLS
• 2025-10-19 Price Changed $139,900 Walker County Area MLS
• 2025-09-22 Listed $149,900 Walker County Area MLS
• 2023-07-07 Sold (MLS) $100,000 WAMLS
• 2023-06-10 Pending — WAMLS
• 2023-05-16 Listed $105,000 WAMLS
• 2022-02-14 Sold (MLS) $60,000 WAMLS
• 2021-09-29 Listed $77,000 WAMLS

Property tax history

-4.4%/yr

Latest (2025): $494 · +7.8% YoY. Source: county tax records.