1146 N Alston St · Foley, AL 36535

$137,900

2 bd · 2.0 ba · 1,023 sqft · Condo · 86 Days on market

Built 1985 Good condition $135/sqft · 17% below area Est $167k · 17% under $280/mo HOA · 18% of rent ↓ 25% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• 1% rule +6.5/10.0
• DSCR +4.2/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.1/5.0
• Rent growth +3.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Club Villas near the new hospital in downtown Foley. Convenient to everything and easy walk for shopping. Enjoy Foley's Parks and amenities, golf carts, festivals, entertainment and parades!! Excellent floor plan with 2 bedrooms and 2 full baths. Great investment property with short term rentals allowed. Open living room & kitchen, with breakfast bar and dining table area. Private patio for your morning coffee or see the sunset in the evening. Just finished painting and getting it ready for a new owner. HOA includes ground & common area maintenance, water, sewer, garbage, cable tv, termite bond, and exterior insurance. Active HOA w/ New roof in 2020. Buyer to verify all information during due diligence.

Key facts

• Near hospital
• Open living room
• Private patio

Tags

• NEAR HOSPITAL
• EASY WALK FOR SHOPPING
• SHORT TERM RENTALS ALLOWED
• OPEN LIVING ROOM
• PRIVATE PATIO
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $138k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $17 ($204/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $130k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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); 875 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $953 of loan paydown is wiped out by about $4k 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 86 days — a 6% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $22k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,625 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.15% ✓
• Cap rate: 6.44%
• Cash-on-cash: 0.53%
• DSCR: 1.02
• GRM: 7.3

CMA / ARV

• ARV (median comp): $166,588
• List price: $137,900
• Delta: -17.22%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-22,938
• Equity at exit: $20,561

10-year hold

• IRR: -11.7%
• Equity multiple: 0.35×
• Total profit: $-25,284
• Equity at exit: $11,923

Cash invested: $38,612 (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: 875
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$723
• Tax est. 1.5%: −$172 /mo · $2,068/yr
• Insurance: −$57
• HOA: −$280
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $17

Break-even live

Break-even rent $1,561

Max offer price $137,900

Occupancy floor 94%

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: $34,475
• Closing costs: $4,137
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 N Alston St Foley, AL	2.0	2.0	1008	$1,600	$1.59	20d	1	0.01mi
134 W Satsuma Ave Foley, AL	2.0	2.0	1000	$1,400	$1.40	43d	1	0.05mi
801 N Pine St Foley, AL	2.0	1.0	1041	$1,695	$1.63	43d	1	0.36mi
1802 Cashew Cir Foley, AL	2.0–5.0	2.0–2.5	1702	$1,850	$1.09	43d	1	0.76mi
104 E Laurel Ave Foley, AL	1.0	1.0	766	$1,000	$1.31	43d	1	0.89mi
116 S Elm St Unit 116 Foley, AL	3.0	2.0	1125	$1,350	$1.20	44d	1	1.21mi
503 S Cedar St Foley, AL	2.0	2.0	1200	$1,600	$1.33	43d	1	1.30mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: watersewertrashcable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-19
   days on market $137,900 Active 86 DOM
2. 2026-06-18
   days on market $137,900 Active 85 DOM
3. 2026-06-17
   days on market $137,900 Active 84 DOM
4. 2026-06-16
   days on market $137,900 Active 83 DOM
5. 2026-06-15
   days on market $137,900 Active 82 DOM
6. 2026-06-14
   pricedays on market $137,900 Active 80 DOM
7. 2026-06-13
   days on market $144,900 Active 79 DOM
8. 2026-06-10
   days on market $144,900 Active 77 DOM
9. 2026-06-09
   days on market $144,900 Active 76 DOM
10. 2026-06-08
    days on market $144,900 Active 75 DOM
11. 2026-06-07
    days on market $144,900 Active 74 DOM
12. 2026-06-05
    days on market $144,900 Active 71 DOM
13. 2026-06-03
    days on market $144,900 Active 70 DOM
14. 2026-06-02
    days on market $144,900 Active 69 DOM
15. 2026-06-01
    days on market $144,900 Active 68 DOM
16. 2026-05-31
    days on market $144,900 Active 67 DOM
17. 2026-05-30
    days on market $144,900 Active 66 DOM
18. 2026-04-17
    price $149,900 735-char remark

    Show marketing remark (735 chars)

    Welcome to Club Villas near the new hospital in downtown Foley. Convenient to everything and easy walk for shopping. Enjoy Foley's Parks and amenities, golf carts, festivals, entertainment and parades!! Excellent floor plan with 2 bedrooms and 2 full baths. Great investment property with short term rentals allowed. Open living room & kitchen, with breakfast bar and dining table area. Private patio for your morning coffee or see the sunset in the evening. Just finished painting and getting it ready for a new owner. HOA includes ground & common area maintenance, water, sewer, garbage, cable tv, termite bond, and exterior insurance. Active HOA w/ New roof in 2020. Buyer to verify all information during due diligence.

19. 2026-03-25
    listed $159,900 Active 735-char remark

    Show marketing remark (735 chars)

    Welcome to Club Villas near the new hospital in downtown Foley. Convenient to everything and easy walk for shopping. Enjoy Foley's Parks and amenities, golf carts, festivals, entertainment and parades!! Excellent floor plan with 2 bedrooms and 2 full baths. Great investment property with short term rentals allowed. Open living room & kitchen, with breakfast bar and dining table area. Private patio for your morning coffee or see the sunset in the evening. Just finished painting and getting it ready for a new owner. HOA includes ground & common area maintenance, water, sewer, garbage, cable tv, termite bond, and exterior insurance. Active HOA w/ New roof in 2020. Buyer to verify all information during due diligence.

20. 2024-11-06
    historical $1,400
21. 2024-08-28
    price $1,400
22. 2024-08-02
    price $1,500
23. 2024-07-11
    listed $1,600
24. 2024-07-11
    historical $1,600
25. 2024-07-11
    listed $1,600
26. 2024-06-24
    price $174,900
27. 2024-06-20
    price $184,900
28. 2024-05-03
    price $189,900
29. 2024-03-19
    listed $199,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 7 d/yr ≥105°F today · 25 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: $18,988
• − Mortgage interest: −$7,725
• − Property taxes: −$2,068
• − Insurance: −$690
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − HOA: −$3,360
• − Depreciation: −$4,012
• Taxable loss: −$1,905
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $661/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

Good 75/100 Cosmetic rehab

This condo is in good condition with a good exterior and interior. It has a good floor plan and is well-maintained. Painting and updating the kitchen and flooring would significantly increase its value.

Value-add opportunities

• Both Painting the interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Updating the kitchen cabinets — Modernizing the kitchen can attract more buyers and renters
• Both Upgrading the flooring — Replacing worn-out flooring with a more durable and attractive option can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Updating the kitchen cabinets — Modernizing the kitchen can attract more buyers and renters ↑
• Both Upgrading the flooring — Replacing worn-out flooring with a more durable and attractive option can increase both resale and rental value ↑

ⓘ 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: 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

-25.0% since first listed

12 events — show timeline

• 2026-04-17 Price Changed $149,900 BCAR
• 2026-03-25 Listed $159,900 BCAR
• 2024-11-06 Rental Removed $1,400 BCAR
• 2024-08-28 Price Changed $1,400 BCAR
• 2024-08-02 Price Changed $1,500 BCAR
• 2024-07-11 Listed for Rent $1,600 BCAR
• 2024-07-11 Rental Removed $1,600 APPFOLIO
• 2024-07-11 Listed for Rent $1,600 APPFOLIO
• 2024-06-24 Price Changed $174,900 BCAR
• 2024-06-20 Price Changed $184,900 BCAR
• 2024-05-03 Price Changed $189,900 BCAR
• 2024-03-19 Listed $199,900 BCAR