404 Princeton Ave · Gadsden, AL 35901

$110,000

3 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 25 Days on market

Built 1955 0.31 ac lot Est $112k · at est.

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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).

• Cash flow +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +8.5/15.0
• 1% rule +5.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 bath home with metal roof, remodeled within last 5 years after a fire. Possible owner financing with $5000 down and payments of around $380 per month

Key facts

• 0.31 acre lot
• Built 1955
• Listed 24 days

Property features AI

Finance

• Other: Lot size approximately 0.31 acres; Not in flood plain

Exterior

• Parking: Detached parking; Driveway parking
• Utilities: Public water; Connected sewer; Electric water heater
• Home design: Existing (previously built) property; Crawl space foundation; Siding (other) construction
• Construction: Crawl space foundation; Siding exterior
• Exterior features: Fenced yard; Open patio; Covered deck

Interior

• Kitchen: Laminate countertops
• Bedrooms: Three bedrooms on main level
• Flooring: Hardwood
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Propane gas heating; Central cooling
• Interior features: Hardwood floors; Ceilings: other (see remarks); Attic with pull-down access; Living room, dining room, kitchen, three bedrooms, full bath, and laundry on main level
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Thompson Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 217 students, 90% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL) — zoned schools average 83% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 154 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $110k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.32%
• DSCR: 1.46
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $112,420
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Wisteria Ln	0.30mi	2/1.0 (-1)	1,000 (-2%)	12mo	$110,000	$110	68
734 Chadwick Dr	0.44mi	2/1.0 (-1)	1,170 (+14%)	18mo	$115,000	$98	35

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,015
• Equity at exit: $16,401

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $20,611
• Equity at exit: $9,511

Cash invested: $30,800 (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 35901

• Home prices YoY: -9.9%
• Active inventory: 154
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$21 /mo · $257/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $265

Break-even live

Break-even rent $815

Max offer price $110,000

Occupancy floor 72%

Sensitivity live

Price	-10% $327	-5% $296	+0% $265	+5% $234	+10% $203
Rent	-10% $174	-5% $219	+0% $265	+5% $310	+10% $356
Rate	-1.0pp $320	-0.5pp $293	base $265	+0.5pp $236	+1.0pp $207

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $110,000 Active 25 DOM
2. 2026-06-19
   days on market $110,000 Active 23 DOM
3. 2026-06-18
   days on market $110,000 Active 22 DOM
4. 2026-06-17
   days on market $110,000 Active 21 DOM
5. 2026-06-16
   days on market $110,000 Active 20 DOM
6. 2026-06-15
   days on market $110,000 Active 19 DOM
7. 2026-06-14
   days on market $110,000 Active 17 DOM
8. 2026-06-12
   days on market $110,000 Active 16 DOM
9. 2026-06-09
   days on market $110,000 Active 13 DOM
10. 2026-06-08
    days on market $110,000 Active 12 DOM
11. 2026-06-07
    days on market $110,000 Active 11 DOM
12. 2026-06-07
    days on market $110,000 Active 10 DOM
13. 2026-06-04
    days on market $110,000 Active 7 DOM
14. 2026-06-02
    days on market $110,000 Active 6 DOM
15. 2026-06-01
    days on market $110,000 Active 5 DOM
16. 2026-05-31
    days on market $110,000 Active 4 DOM
17. 2026-05-31
    days on market $110,000 Active 3 DOM
18. 2026-05-27
    listed $110,000 Active
19. 2014-02-24
    soldstatus $50,000 162-char remark

    Show marketing remark (162 chars)

    3 bedroom, 1 bath home with metal roof, remodeled within last 5 years after a fire. Possible owner financing with $5000 down and payments of around $380 per month

20. 2013-11-27
    listed $50,000 162-char remark

    Show marketing remark (162 chars)

    3 bedroom, 1 bath home with metal roof, remodeled within last 5 years after a fire. Possible owner financing with $5000 down and payments of around $380 per month

ⓘ 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: $257 · $21/mo
• Projected year-2 tax: $451 · $38/mo
• Expected delta: +$194/yr (+$16/mo · 75.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $13,805
• − Mortgage interest: −$6,162
• − Property taxes: −$257
• − Insurance: −$550
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$3,200
• Taxable income: $1,428
• Est. tax owed @ 24.0%: −$343
• After-tax cash flow: $2,835/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 19,186

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 55% Black 32% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Slovak 1% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.83%
• Current HPI: 243.6795
• 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

+120.0% since first listed

3 events — show timeline

• 2026-05-27 Listed $110,000 Greater Alabama MLS
• 2014-02-24 Sold (MLS) $50,000 VMLS
• 2013-11-27 Listed $50,000 VMLS

Property tax history

-2.6%/yr

Latest (2025): $257 · +0.0% YoY. Source: county tax records.