1504 Main Ave NE · Cullman, AL 35055

$269,900

4 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 53 Days on market

Built 1978 10,454 sqft lot $219/sqft · 63% above area Est $364k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• 1% rule +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your next home! This lovely 4-bedroom, 2-bathroom house features a fully finished basement, perfect for a private bedroom and bath. The open-concept main floor offers a modern kitchen with quartz countertops, stainless steel appliances, and a bright dining area. The cozy living room features a fireplace and large windows. Upstairs, you’ll find three bedrooms and one bathroom, providing plenty of space for the family. In the basement, there’s an additional bedroom and bathroom, ideal for guests or an in-law suite. Outside, enjoy a large back deck looking over the backyard—with a privacy fence perfect for entertaining. Don’t miss out—schedule your tour today

Key facts

• 0.24 acre lot
• Built 1978
• Listed 53 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-334 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (21.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (37.9% below list).
• Recommended offer: $168k (37.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.8% in Cullman — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#36 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools B; Watch: amenities C-, commute F, health & safety F.
• Cullman City (town): math 38% / reading 65% proficiency, ranked #13 of 129 in AL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 339 active listings in the ZIP; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $102k; list at $270k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,620 (37.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.62% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.30%
• DSCR: 0.76
• GRM: 13.4

CMA / ARV

• ARV (median comp): $363,739
• List price: $269,900
• Delta: -25.80%
• 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
1606 NE 2nd Way NE	0.07mi	4/2.0	1,200 (-3%)	20mo	$180,000	$150	76
700 Saundra Ln NE	0.49mi	3/2.0 (-1)	1,320 (+7%)	8mo	$130,000	$98	54
707 NE Oak Dr	0.68mi	3/2.0 (-1)	1,197 (-3%)	7mo	$227,000	$190	53
1200 Third Ave SE	0.26mi	3/1.0 (-1)	1,128 (-8%)	18mo	$52,300	$46	50
1813 NW Burgandy Ln	0.68mi	3/1.0 (-1)	1,327 (+8%)	19mo	$175,000	$132	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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-65,088
• Equity at exit: $40,243

10-year hold

• IRR: -21.8%
• Equity multiple: -0.12×
• Total profit: $-84,455
• Equity at exit: $23,336

Cash invested: $75,572 (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 35055

• Home prices YoY: -14.4%
• Active inventory: 339
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $1,676 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$130 /mo · $1,560/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-334

Break-even live

Break-even rent $2,099

Max offer price $210,960

Occupancy floor —

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-09
   statusdays on market $269,900 Pending 53 DOM
2. 2026-06-08
   days on market $269,900 Active 52 DOM
3. 2026-06-07
   days on market $269,900 Active 51 DOM
4. 2026-06-05
   days on market $269,900 Active 48 DOM
5. 2026-06-03
   days on market $269,900 Active 47 DOM
6. 2026-06-02
   days on market $269,900 Active 46 DOM
7. 2026-06-01
   days on market $269,900 Active 45 DOM
8. 2026-05-31
   days on market $269,900 Active 44 DOM
9. 2026-05-30
   days on market $269,900 Active 43 DOM
10. 2026-04-17
    listed $289,900 Active 706-char remark

    Show marketing remark (706 chars)

    Welcome to your next home! This lovely 4-bedroom, 2-bathroom house features a fully finished basement, perfect for a private bedroom and bath. The open-concept main floor offers a modern kitchen with quartz countertops, stainless steel appliances, and a bright dining area. The cozy living room features a fireplace and large windows. Upstairs, you’ll find three bedrooms and one bathroom, providing plenty of space for the family. In the basement, there’s an additional bedroom and bathroom, ideal for guests or an in-law suite. Outside, enjoy a large back deck looking over the backyard—with a privacy fence perfect for entertaining. Don’t miss out—schedule your tour today

11. 2017-10-23
    soldstatus $102,500
12. 2017-10-23
    soldstatus $258,240
13. 2017-10-20
    soldstatus $128,000 464-char remark

    Show marketing remark (464 chars)

    NEED EXTRA SPACE WALKING DISTANCE TO CULLMAN MIDDLE & HIGH SCHOOLS? 3BED 1BA HOME WITH FINISHED BASEMENT FOR EXTRA BEDRMS OR ADD A BATH. GREAT FLOW THROUGHOUT HOME, KITCHEN UPDATED FEW YEARS BACK QUARTZ COUNTER TOPS, OPENS TO MULTI TIER DECK & FENCED IN BACKYARD WITH KOI POND. BASEMENT IS FINISHED WITH SEVERAL DIFFERENT LIVING AREAS COULD HAVE 4TH & 5TH BEDROOMS AS WELL AS WORKSHOP STORAGE AREA. NEWER HVAC UNIT. YOU WILL LOVE THE CONVENIENCE.

14. 2017-06-25
    listed $128,900 464-char remark

    Show marketing remark (464 chars)

    NEED EXTRA SPACE WALKING DISTANCE TO CULLMAN MIDDLE & HIGH SCHOOLS? 3BED 1BA HOME WITH FINISHED BASEMENT FOR EXTRA BEDRMS OR ADD A BATH. GREAT FLOW THROUGHOUT HOME, KITCHEN UPDATED FEW YEARS BACK QUARTZ COUNTER TOPS, OPENS TO MULTI TIER DECK & FENCED IN BACKYARD WITH KOI POND. BASEMENT IS FINISHED WITH SEVERAL DIFFERENT LIVING AREAS COULD HAVE 4TH & 5TH BEDROOMS AS WELL AS WORKSHOP STORAGE AREA. NEWER HVAC UNIT. YOU WILL LOVE THE CONVENIENCE.

ⓘ 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: $1,560 · $130/mo
• Projected year-2 tax: $1,560 · $130/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 2/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,114
• − Mortgage interest: −$15,119
• − Property taxes: −$1,560
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,609
• − Management: −$1,609
• − Depreciation: −$7,852
• Taxable loss: −$8,984
• Est. tax savings @ 24.0%: +$2,156
• After-tax cash flow: $-1,848/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: Cullman City
• NCES district ID: 0100990
• Math proficiency: 38% ▼ -32.00%
• Reading proficiency: 65% ▼ -1.00%
• Median HH income: $38,339
• Composite: 42.81/100
• National rank: #3140
• State rank: #13 of 129 in AL

Livability — Cullman

• Score: 71/100
• State rank: #36
• US rank: #6789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cullman, AL
• County: Cullman County · 47,767 people
• City population: 34,660
• Metro: Cullman, AL
• Population (ZIP): 23,115
• Household income: $58,405
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 499.0

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 3% Black 1%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.60%
• Current HPI: 259.5471
• Rent YoY: —
• Metro: Cullman, 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

+124.9% since first listed

5 events — show timeline

• 2026-04-17 Listed $289,900 SAARMLS
• 2017-10-23 Sold (Public Records) $258,240 Public Records
• 2017-10-23 Sold (Public Records) $102,500 Public Records
• 2017-10-20 Sold (MLS) $128,000 SAARMLS
• 2017-06-25 Listed $128,900 SAARMLS

Property tax history

+15.2%/yr

Latest (2025): $1,560 · +127.0% YoY. Source: county tax records.