411 10th Ave SW · Reform, AL 35481

$22,500

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 33 Days on market

Built 1945 Fair condition 0.80 ac lot $25/sqft · 81% below area ↓ 10% since listing

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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
• Appreciation +6.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.5/10.0

Listing remarks MLS

This 2-bedroom, 1-bath home in Reform offers a great opportunity for a primary residence or investment property. With a solid layout, this property is ready for someone to come in and make it their own. Being sold as-is, it will require updates and improvements, but it presents a chance to add value and customize to your preferences. Whether you're looking to renovate and hold, rent, or create a personalized space, this property offers plenty of potential for the right buyer.

Key facts

• 0.8 acre lot
• Built 1945
• Listed 33 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $22k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($861 rent vs $22k).
• Recommended offer: $22k (3.0% below list) — sets the bar for market timing.

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 $922 of equity ($156 loan paydown + $766 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $21,825 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1945 — 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. 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.
7. 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.
8. 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: 3.83% ✓
• Cap rate: 34.29%
• Cash-on-cash: 99.97%
• DSCR: 5.45
• GRM: 2.2

CMA / ARV

• ARV (median comp): $117,874
• List price: $22,500
• Delta: -80.91%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 2nd St SW	0.24mi	3/1.0 (+1)	1,000 (+10%)	14mo	$140,900	$141	56

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: —
• Equity multiple: 6.82×
• Total profit: $36,636
• Equity at exit: $10,632

10-year hold

• IRR: —
• Equity multiple: 14.18×
• Total profit: $83,004
• Equity at exit: $16,797

Cash invested: $6,300 (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: 2.2×

Monthly cashflow live

• Estimated rent: $861 medium
• Mortgage (P&I): −$118
• Tax from tax record: −$28 /mo · $340/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $525

Break-even live

Break-even rent $197

Max offer price $22,500

Occupancy floor 34%

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-11
   status Pending 480-char remark

   Show marketing remark (480 chars)

   This 2-bedroom, 1-bath home in Reform offers a great opportunity for a primary residence or investment property. With a solid layout, this property is ready for someone to come in and make it their own. Being sold as-is, it will require updates and improvements, but it presents a chance to add value and customize to your preferences. Whether you're looking to renovate and hold, rent, or create a personalized space, this property offers plenty of potential for the right buyer.

2. 2026-04-07
   listed $22,500 Active 480-char remark

   Show marketing remark (480 chars)

   This 2-bedroom, 1-bath home in Reform offers a great opportunity for a primary residence or investment property. With a solid layout, this property is ready for someone to come in and make it their own. Being sold as-is, it will require updates and improvements, but it presents a chance to add value and customize to your preferences. Whether you're looking to renovate and hold, rent, or create a personalized space, this property offers plenty of potential for the right buyer.

3. 2023-06-22
   soldstatus $25,000

ⓘ 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: $340 · $28/mo
• Projected year-2 tax: $340 · $28/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $10,337
• − Mortgage interest: −$1,260
• − Property taxes: −$340
• − Insurance: −$112
• − Repairs & maintenance: −$827
• − Management: −$827
• − Depreciation: −$655
• Taxable income: $6,316
• Est. tax owed @ 24.0%: −$1,516
• After-tax cash flow: $4,782/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 1-bath home requires moderate renovations to improve its condition and increase its value for resale or rental.

Repairs flagged

• Major Exterior paint — Peeling paint and exposed brick
• Major Interior drywall — Exposed drywall and unfinished spaces
• Major Flooring — Worn and uneven flooring
• Major Bathroom plumbing — Exposed plumbing and unfinished spaces

Value-add opportunities

• Both Painting and updating exterior — Enhances curb appeal and resale value
• Both Drywall repair and interior finishing — Improves interior condition and resale value
• Both Flooring replacement — Enhances living space and rental appeal
• Both Plumbing repairs and bathroom finishing — Ensures functionality and rental readiness

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior paint · Peeling paint and exposed brick	Major	$15,000–50,000
Interior drywall · Exposed drywall and unfinished spaces	Major	$15,000–50,000
Flooring · Worn and uneven flooring	Major	$15,000–50,000
Bathroom plumbing · Exposed plumbing and unfinished spaces	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Painting and updating exterior — Enhances curb appeal and resale value ↑
• Both Drywall repair and interior finishing — Improves interior condition and resale value ↑
• Both Flooring replacement — Enhances living space and rental appeal ↑
• Both Plumbing repairs and bathroom finishing — Ensures functionality and rental readiness ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-10.0% since first listed

3 events — show timeline

• 2026-05-11 Pending — WAMLS
• 2026-04-07 Listed $22,500 WAMLS
• 2023-06-22 Sold (Public Records) $25,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $340 · +6.9% YoY. Source: county tax records.