21290 Seminole St · Lockhart, AL 36442

$55,000

3 bd · 1.0 ba · 1,264 sqft · SingleFamily · 25 Days on market

Built 1905 Fair condition 0.34 ac lot $44/sqft · 43% below area Est $96k · 43% under ↓ 21% since listing

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

Key facts

• Roof replaced
• 0.34 acre lot
• Built 1905

Tags

• ROOF REPLACED
• PARTIALLY FENCED YARD

Property features AI

Finance

• HOA & community: Part of the Town of Lockhart community

Exterior

• Utilities: Electric service; Public water; Public sewer
• Home design: Traditional-style home; One story; Built in 1905
• Construction: Composite shingle roof
• Exterior features: Partially fenced lot; Screened porch; Level lot; Lot dimensions approximately 90 x 165; City street frontage with paved road access

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: Three bedrooms (all on the first floor)
• Bathrooms: One full bathroom
• Heating & cooling: Central heating; Central air conditioning; Electric heat controls
• Interior features: Bonus room on the first floor; Covered porch on the first floor; Screened porch on the first floor; Living room on the first floor; Dining room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#183 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Covington County (rural): math 27% / reading 50% proficiency, ranked #32 of 129 in AL (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 13 units permitted in Covington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($380 loan paydown + $2k appreciation (4.0% local appreciation)).
• Covington County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.91% ✓
• Cap rate: 16.10%
• Cash-on-cash: 35.03%
• DSCR: 2.56
• GRM: 4.4

CMA / ARV

• ARV (median comp): $96,487
• List price: $55,000
• Delta: -43.00%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21220 Cherokee Ave	0.13mi	3/2.5	1,344 (+6%)	1mo	$225,000	$167	76
21082 Seminole St	0.12mi	2/1.0 (-1)	1,448 (+15%)	12mo	$115,000	$79	55

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

Projected returns pro-forma

3.97% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 42.2%
• Equity multiple: 3.48×
• Total profit: $38,158
• Equity at exit: $27,796

10-year hold

• IRR: 41.1%
• Equity multiple: 6.99×
• Total profit: $92,323
• Equity at exit: $45,392

Cash invested: $15,400 (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 36442

• Home prices YoY: 2.2%
• Active inventory: 58
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,050 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $450

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 52%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-13
   price $55,000 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

2. 2026-05-13
   price $55,000 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

3. 2026-05-13
   price $55,900 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

4. 2026-04-28
   status Active 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

5. 2026-04-28
   status Active 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

6. 2026-04-28
   status Pending 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

7. 2026-04-27
   historical Active Under Contract 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

8. 2026-04-26
   listed $59,900 Active 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

9. 2026-04-26
   listed $59,900 Active 403-char remark

   Show marketing remark (403 chars)

   Fixer-upper in Lockhart, AL. This property is being sold as-is, where-is, and is best suited for a cash buyer. The roof was replaced in 2023, adding a solid feature to build on. The yard is partially fenced, offering some privacy and potential for landscaping. Inside, the home features 3 bedrooms and 1 bathroom and will need updates throughout. A blank canvas ready for your vision and value creation.

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

Taxation est. · year 1

• Rental income: $12,603
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$1,600
• Taxable income: $4,806
• Est. tax owed @ 24.0%: −$1,153
• After-tax cash flow: $4,242/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 · 13 photos

Fair 45/100 Moderate rehab

This fixer-upper in Lockhart, AL, requires moderate renovations to improve its condition and value. Painting, flooring replacement, and landscaping are key updates to increase its resale and rental potential.

Repairs flagged

• Minor Painting — Siding appears faded
• Major Flooring — Worn hardwood floors
• Minor Paint — Interior walls show wear

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics
• Both Flooring replacement — Improves living space and rental value
• Both Landscaping and curb appeal — Enhances property's visual appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting · Siding appears faded	Minor	$500–3,000
Flooring · Worn hardwood floors	Major	$15,000–50,000
Paint · Interior walls show wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Flooring replacement — Improves living space and rental value ↑
• Both Landscaping and curb appeal — Enhances property's visual appeal 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: Covington County
• NCES district ID: 0100930
• Math proficiency: 27% ▼ -21.00%
• Reading proficiency: 50% ▬ 0.00%
• Median HH income: $39,213
• Composite: 32.13/100
• National rank: #5797
• State rank: #32 of 129 in AL

Livability — Lockhart

• Score: 63/100
• State rank: #183
• US rank: #15412

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lockhart, AL
• City population: 284
• Population (ZIP): 3,615

Population outlook (Covington County) Hauer SSP2

• Today (2025): 37,007 people
• By 2030: 36,401 · -1.6%
• By 2040: 34,983 · -5.5%
• By 2050: 33,437 · -9.6%
• By 2075: 29,753 · -19.6%
• By 2100: 25,109 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 11% Two or more races 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Covington

• 2024 margin: Solid R (+72.4) · D 13.6% · R 86.0%
• 2008→2024 swing: -14.1pp toward R · 2008: -58.3pp · 2024: -72.4pp
• All cycles: 2024: R+72.4 2020: R+68.1 2016: R+68.5 2012: R+58.3 2008: R+58.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.97%
• Current HPI: 182.2844
• 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

-20.7% since first listed

12 events — show timeline

• 2026-06-11 Sold (MLS) $47,500 CAOR
• 2026-06-11 Sold (MLS) $47,500 ECAR
• 2026-05-23 Pending — ECAR
• 2026-05-13 Price Changed $55,000 CAOR
• 2026-05-13 Price Changed $55,000 ECAR
• 2026-05-13 Price Changed $55,900 CAOR
• 2026-04-28 Relisted — CAOR
• 2026-04-28 Relisted — ECAR
• 2026-04-28 Pending — ECAR
• 2026-04-27 Contingent — CAOR
• 2026-04-26 Listed $59,900 CAOR
• 2026-04-26 Listed $59,900 ECAR