403 Herd St · Tallassee, AL 36078

$91,900

3 bd · 1.0 ba · 1,194 sqft · SingleFamily public records · 99 Days on market

Built 1910 0.27 ac lot $77/sqft · 26% below area Est $124k · 26% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +2.8/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarks Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space.

Key facts

• Spacious yard
• 0.27-acre lot
• Local schools

Tags

• 0.27-ACRE LOT
• SPACIOUS YARD
• LOCAL SCHOOLS
• TOWN AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $92k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $92k).
• Recommended offer: $84k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.0% in Tallassee — 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 56/100 on livability (#418 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Tallassee City (rural): math 23% / reading 40% proficiency, ranked #60 of 129 in AL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Elmore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $635 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $92k implies a 253% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% 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 $83,629 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1910 — 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 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?
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 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: 1.25% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.66%
• DSCR: 1.74
• GRM: 6.7

CMA / ARV

• ARV (median comp): $123,943
• List price: $91,900
• Delta: -25.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S Dubois St	0.05mi	2/1.0 (-1)	1,184 (-1%)	1mo	$135,000	$114	90
308 Harris St	0.39mi	2/1.0 (-1)	1,332 (+12%)	8mo	$120,000	$90	51
20 Alber Dr	0.73mi	3/2.0	1,124 (-6%)	2mo	$149,000	$133	50
14 Alber Dr	0.73mi	2/2.0 (-1)	1,184 (-1%)	14mo	$125,000	$106	43
16 Alber Dr	0.73mi	2/2.0 (-1)	1,248 (+4%)	23mo	$114,900	$92	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.30×
• Total profit: $7,828
• Equity at exit: $13,703

10-year hold

• IRR: 17.0%
• Equity multiple: 2.40×
• Total profit: $35,977
• Equity at exit: $7,946

Cash invested: $25,732 (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 36078

• Home prices YoY: -21.3%
• Active inventory: 113
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$482
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $357

Break-even live

Break-even rent $698

Max offer price $91,900

Occupancy floor 64%

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: $22,975
• Closing costs: $2,757
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
185 S Tallassee Dr Tallassee, AL	2.0	1.0	1260	$1,150	$0.91	21d	1	0.89mi

Listing history 26 events

1. 2026-06-19
   days on market $91,900 Active 99 DOM
2. 2026-06-18
   days on market $91,900 Active 98 DOM
3. 2026-06-17
   days on market $91,900 Active 97 DOM
4. 2026-06-16
   days on market $91,900 Active 96 DOM
5. 2026-06-15
   days on market $91,900 Active 95 DOM
6. 2026-06-14
   days on market $91,900 Active 93 DOM
7. 2026-06-12
   days on market $91,900 Active 92 DOM
8. 2026-06-09
   days on market $91,900 Active 89 DOM
9. 2026-06-08
   days on market $91,900 Active 88 DOM
10. 2026-06-07
    days on market $91,900 Active 87 DOM
11. 2026-06-05
    days on market $91,900 Active 85 DOM
12. 2026-06-04
    days on market $91,900 Active 83 DOM
13. 2026-06-02
    pricedays on market $91,900 Active 82 DOM
14. 2026-06-01
    days on market $94,500 Active 81 DOM
15. 2026-05-31
    days on market $94,500 Active 80 DOM
16. 2026-05-31
    days on market $94,500 Active 79 DOM
17. 2026-05-15
    price $94,500 544-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

18. 2026-05-15
    price $94,500 844-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

19. 2026-04-07
    status Active 544-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

20. 2026-04-07
    status Active 844-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

21. 2026-03-18
    historical Active Under Contract 544-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

22. 2026-03-18
    historical Contingent 844-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

23. 2026-03-12
    listed $97,500 Active 544-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

24. 2026-03-12
    listed $97,500 Active 844-char remark

    Show marketing remark (844 chars)

    Charming home in the heart of Tallassee offering character, space, and great potential. Located at 403 Herd Street, this 3-bedroom, 1-bath home features approximately 1,194 square feet of living space and sits on a 0.27-acre lot with plenty of room for outdoor activities, gardening, or future improvements. Built in 1910, the home offers classic charm and a functional layout with comfortable living areas and ample natural light. The spacious yard provides opportunities for entertaining, relaxing, or expanding outdoor living space. Conveniently located near local schools, shopping, and town amenities, this property is ideal for first-time buyers, investors, or anyone looking to add personal touches to a home with character. Don’t miss this opportunity to own a property with charm and potential in a convenient Tallassee location.

25. 2015-02-26
    listed $69,000
26. 2014-07-16
    soldstatus $26,000

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $377 · $31/mo
• Expected delta: +$5/yr ($0/mo · 1.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,800
• − Mortgage interest: −$5,148
• − Property taxes: −$372
• − Insurance: −$460
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,673
• Taxable income: $2,939
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $3,582/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: Tallassee City
• NCES district ID: 0103240
• Math proficiency: 23% ▼ -22.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $46,393
• Composite: 27.03/100
• National rank: #7055
• State rank: #60 of 129 in AL

Livability — Tallassee

• Score: 56/100
• State rank: #418
• US rank: #22846

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tallassee, AL
• Population (ZIP): 13,460

Population outlook (Elmore County) Hauer SSP2

• Today (2025): 85,154 people
• By 2030: 86,667 · +1.8%
• By 2040: 89,014 · +4.5%
• By 2050: 90,331 · +6.1%
• By 2075: 96,096 · +12.8%
• By 2100: 95,290 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 18% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% Chinese 1%

Political lean MEDSL · Elmore

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -50.9pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+48.2 2016: R+52.0 2012: R+48.8 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.68%
• Current HPI: 179.7258
• 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

+263.5% since first listed

10 events — show timeline

• 2026-05-15 Price Changed $94,500 LMMLS
• 2026-05-15 Price Changed $94,500 MAAR
• 2026-04-07 Relisted — LMMLS
• 2026-04-07 Relisted — MAAR
• 2026-03-18 Contingent — LMMLS
• 2026-03-18 Contingent — MAAR
• 2026-03-12 Listed $97,500 MAAR
• 2026-03-12 Listed $97,500 LMMLS
• 2015-02-26 Listed $69,000 MAAR
• 2014-07-16 Sold (Public Records) $26,000 Public Records

Property tax history

+7.2%/yr

Latest (2025): $372 · +0.0% YoY. Source: county tax records.