1312 Applegate Dr · Alabaster, AL 35007

$188,000

2 bd · 2.0 ba · 1,200 sqft · Townhouse public records · 41 Days on market

Built 1987 6,534 sqft lot $157/sqft · 14% above area Est $164k · 14% over $31/mo HOA · 2% of rent

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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).

• Cash flow +17.0/30.0
• DSCR +5.3/10.0
• 1% rule +4.1/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1312 Applegate Drive– a charming 2-bedroom, 1.5-bath townhome that’s perfect for both first-time homebuyers and savvy investors alike. This well-maintained home features a fenced-in backyard, ideal for pets, entertaining, or simply relaxing in privacy. Enjoy the convenience of low-maintenance living with access to a community pool just steps away. Whether you're looking for a comfortable personal residence or a smart addition to your rental portfolio, 1312 Applegate offers value, versatility, and a great location. Don’t miss this opportunity!

Key facts

• Neighborhood pool
• New subflooring
• New vinyl flooring

Tags

• UPDATED KITCHEN CABINETS
• NEIGHBORHOOD POOL
• WOOD BURNING FIREPLACE
• NEW VINYL FLOORING
• NEW SUBFLOORING

Property features AI

Finance

• HOA & community: Quarterly association fee ($94); Association fees include common grounds maintenance; Community pool

Exterior

• Parking: Assigned parking on multi-level parking
• Utilities: Public water; Connected sewer; Several internet providers available; Electric water heater
• Home design: Existing home; Slab foundation; Vinyl siding
• Construction: Vinyl siding construction; Slab foundation
• Exterior features: Fenced yard; Storage building; Community in-ground pool; Corner lot

Interior

• Kitchen: Laminate countertops; Built-in dishwasher; Built-in microwave; Refrigerator; Electric stove
• Bedrooms: Two bedrooms (both on upper level)
• Flooring: Vinyl flooring
• Bathrooms: One full bathroom (upper level); One half bathroom (main level); Tub/shower combo; Shared bath; Linen closet
• Heating & cooling: Central heating and cooling; Heat pump; Zoned heating; Split system cooling
• Interior features: Smooth ceilings; Some window treatments to remain; Marble woodburning fireplace in the living room; Pantry
• Laundry & utility: Main level laundry room; Washer hookup; Electric dryer hookup; Water heater: electric

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $188k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $172k (8.6% below list).
• Recommended offer: $172k (8.6% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.1% in Alabaster — 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 76/100 on livability (#14 in AL, #3,512 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D-, commute F, health & safety F.
• Alabaster City (suburban): math 30% / reading 57% proficiency, ranked #17 of 129 in AL (top 13%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadow View Elementary School (math 59% / reading 71%, grade B+, #40 of 627 statewide, top 7%, 944 students, 53% FRL); Thompson Middle School (math 24% / reading 57%, grade F, #56 of 257 statewide, top 22%, 1,434 students, 51% FRL); Thompson High School (math 34% / reading 38%, grade F, #43 of 305 statewide, top 14%, 2,203 students, 48% FRL) — zoned schools average 50% FRL vs 31% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.2%/yr); 226 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 8→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,806 (8.6% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.91% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 9.1

CMA / ARV

• ARV (median comp): $164,328
• List price: $188,000
• Delta: 14.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1531 Applegate Ln	0.10mi	2/1.5	1,206 (+0%)	3mo	$160,000	$133	91
1312 Applegate Dr	0.00mi	2/1.5	1,200 (0%)	13mo	$155,000	$129	87
1537 Applegate Ln	0.10mi	2/1.5	1,188 (-1%)	9mo	$160,000	$135	84
1529 Applegate Ln	0.09mi	2/1.5	1,188 (-1%)	11mo	$153,500	$129	83
1545 Applegate Ln	0.12mi	2/1.5	1,188 (-1%)	12mo	$152,000	$128	81
1434 Applegate Dr	0.09mi	2/1.5	1,206 (+0%)	23mo	$150,000	$124	74
1557 Applegate Ln	0.12mi	2/1.5	1,024 (-15%)	2mo	$174,000	$170	66
1565 Applegate Ln	0.12mi	2/1.5	1,024 (-15%)	7mo	$159,900	$156	62

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 · 2.16% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-23,790
• Equity at exit: $28,031

10-year hold

• IRR: -4.8%
• Equity multiple: 0.69×
• Total profit: $-16,124
• Equity at exit: $16,255

Cash invested: $52,640 (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 35007

• Home prices YoY: -35.0%
• Rents YoY: 2.2%
• Active inventory: 226
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,718 medium
• Mortgage (P&I): −$986
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$78
• HOA: −$31
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $128

Break-even live

Break-even rent $1,556

Max offer price $188,000

Occupancy floor 88%

Sensitivity live

Price	-10% $234	-5% $181	+0% $128	+5% $74	+10% $21
Rent	-10% $-8	-5% $60	+0% $128	+5% $196	+10% $263
Rate	-1.0pp $222	-0.5pp $175	base $128	+0.5pp $79	+1.0pp $29

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: $47,000
• Closing costs: $5,640
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Winterhaven Dr Alabaster, AL	3.0	2.0	1431	$1,550	$1.08	5d	1	0.60mi
213 Park Place Way Alabaster, AL	3.0	2.0	1223	$1,681	$1.37	25d	1	0.61mi
955 3rd Ave NW Alabaster, AL	3.0	2.0	1363	$1,875	$1.38	5d	1	1.41mi
213 Queens Gate Maylene, AL	3.0	2.0	1449	$1,846	$1.27	45d	1	1.42mi

HOA detail

• Monthly dues: $31 · $372/yr
• Likely covers: pool

Listing history 22 events

1. 2026-06-21
   days on market $188,000 Active 41 DOM
2. 2026-06-18
   days on market $188,000 Active 38 DOM
3. 2026-06-17
   days on market $188,000 Active 37 DOM
4. 2026-06-16
   days on market $188,000 Active 36 DOM
5. 2026-06-15
   days on market $188,000 Active 35 DOM
6. 2026-06-13
   pricedays on market $188,000 Active 33 DOM
7. 2026-06-10
   days on market $200,000 Active 30 DOM
8. 2026-06-09
   days on market $200,000 Active 29 DOM
9. 2026-06-08
   days on market $200,000 Active 28 DOM
10. 2026-06-07
    days on market $200,000 Active 27 DOM
11. 2026-06-03
    days on market $200,000 Active 23 DOM
12. 2026-06-02
    days on market $200,000 Active 22 DOM
13. 2026-06-01
    days on market $200,000 Active 21 DOM
14. 2026-05-31
    days on market $200,000 Active 20 DOM
15. 2026-05-11
    listed $200,000 Active 872-char remark
16. 2025-05-19
    soldstatus $155,000
17. 2025-05-16
    soldstatus $155,000 Sold 577-char remark

    Show marketing remark (577 chars)

    Welcome to 1312 Applegate Drive– a charming 2-bedroom, 1.5-bath townhome that’s perfect for both first-time homebuyers and savvy investors alike. This well-maintained home features a fenced-in backyard, ideal for pets, entertaining, or simply relaxing in privacy. Enjoy the convenience of low-maintenance living with access to a community pool just steps away. Whether you're looking for a comfortable personal residence or a smart addition to your rental portfolio, 1312 Applegate offers value, versatility, and a great location. Don’t miss this opportunity!

18. 2025-04-14
    historical Contingent 577-char remark

    Show marketing remark (577 chars)

    Welcome to 1312 Applegate Drive– a charming 2-bedroom, 1.5-bath townhome that’s perfect for both first-time homebuyers and savvy investors alike. This well-maintained home features a fenced-in backyard, ideal for pets, entertaining, or simply relaxing in privacy. Enjoy the convenience of low-maintenance living with access to a community pool just steps away. Whether you're looking for a comfortable personal residence or a smart addition to your rental portfolio, 1312 Applegate offers value, versatility, and a great location. Don’t miss this opportunity!

19. 2025-04-07
    listed $150,000 Active 577-char remark

    Show marketing remark (577 chars)

    Welcome to 1312 Applegate Drive– a charming 2-bedroom, 1.5-bath townhome that’s perfect for both first-time homebuyers and savvy investors alike. This well-maintained home features a fenced-in backyard, ideal for pets, entertaining, or simply relaxing in privacy. Enjoy the convenience of low-maintenance living with access to a community pool just steps away. Whether you're looking for a comfortable personal residence or a smart addition to your rental portfolio, 1312 Applegate offers value, versatility, and a great location. Don’t miss this opportunity!

20. 2022-08-03
    soldstatus $155,900
21. 2020-12-14
    soldstatus $121,000
22. 2015-04-21
    soldstatus $72,000

ⓘ 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: $1,612 · $134/mo
• Projected year-2 tax: $1,612 · $134/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 8 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,617
• − Mortgage interest: −$10,531
• − Property taxes: −$1,612
• − Insurance: −$940
• − Repairs & maintenance: −$1,649
• − Management: −$1,649
• − HOA: −$372
• − Depreciation: −$5,469
• Taxable loss: −$1,606
• Est. tax savings @ 24.0%: +$386
• After-tax cash flow: $1,918/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: Alabaster City
• NCES district ID: 0100190
• Math proficiency: 30% ▼ -27.00%
• Reading proficiency: 57% ▲ 5.00%
• Median HH income: $68,690
• Composite: 39.07/100
• National rank: #4052
• State rank: #17 of 129 in AL

Livability — Alabaster

• Score: 76/100
• State rank: #14
• US rank: #3512

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alabaster, AL
• County: Shelby County · 188,970 people
• City population: 28,586
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 28,586
• Household income: $88,505
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 325.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 14% Hispanic / Latino 13% Two or more races 6% Asian 2%
• Hispanic origin (detail): Mexican 6% Cuban 1%
• Common ancestry: Italian 3% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 90% English-only · Spanish 8% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.63%
• Current HPI: 211.0691
• Rent YoY: ▲ 2.16%
• Metro: Birmingham-Hoover, 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

+161.1% since first listed

9 events — show timeline

• 2026-06-11 Price Changed $188,000 Greater Alabama MLS
• 2026-05-11 Listed $200,000 Greater Alabama MLS
• 2025-05-19 Sold (Public Records) $155,000 Public Records
• 2025-05-16 Sold (MLS) $155,000 Greater Alabama MLS
• 2025-04-14 Contingent — Greater Alabama MLS
• 2025-04-07 Listed $150,000 Greater Alabama MLS
• 2022-08-03 Sold (Public Records) $155,900 Public Records
• 2020-12-14 Sold (Public Records) $121,000 Public Records
• 2015-04-21 Sold (Public Records) $72,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $1,612 · +2.0% YoY. Source: county tax records.