2011 College St · Decatur, AL 35601

$197,500

3 bd · 1.0 ba · 1,768 sqft · SingleFamily public records · 18 Days on market

Built 1965 0.35 ac lot $112/sqft · at area comps Est $205k · at est.

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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 +13.2/30.0
• ARV discount +9.1/15.0
• DSCR +4.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This wonderful house is on the market just in time for summer! With a pool & patio in the backyard, it has a great spot to cool off when you get hot. The detached 32x26 garage has a 1/2 bath, kitchen & plenty of room to work on projects on the main level & a spacious 32x18 storage area on the second floor with a 3/4 bath & partial kitchen. Make your plans to view in person soon, it will not last long on the market.

Key facts

• Spacious yard
• Built in bunkbed
• Detached garage

Tags

• DETACHED GARAGE
• FULLY RENOVATED APARTMENT
• SPACIOUS YARD
• BUILT IN BUNKBED

Property features AI

Finance

• HOA & community: No homeowners association; Located in the Fairview Land Company subdivision

Exterior

• Parking: Detached garage with workshop; Attached carport (one carport space); Alley access
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence; One-story home; Built in 1965
• Construction: Slab foundation
• Exterior features: Public water; Public sewer; Lot roughly 0.35 acres (approx. 62 x 245)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: One fireplace; Seven total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $198k.

Deal economics

• At list price, monthly cash flow is $-3 ($-33/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (24.6% below list).
• Recommended offer: $149k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Walter Jackson Elementary School (math 47% / reading 62%, grade C, #87 of 627 statewide, top 15%, 244 students, 73% FRL); Decatur Middle School (math 17% / reading 36%, grade F, #150 of 257 statewide, top 60%, 815 students, 77% FRL); Decatur High School (math 27% / reading 27%, grade F, #90 of 305 statewide, top 35%, 1,040 students, 67% FRL) — zoned schools average 72% FRL vs 57% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.7%/yr); 223 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($195k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $26k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $148,876 (24.6% 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. Built in 1965 — 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. 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?
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: 0.75% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• GRM: 11.1

CMA / ARV

• ARV (median comp): $205,011
• List price: $197,500
• Delta: 8.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 20th Ave	0.31mi	3/2.0	1,902 (+8%)	3mo	$210,000	$110	67
1716 Pennylane SE	0.19mi	3/2.0	1,606 (-9%)	7mo	$251,500	$157	66
2003 Murphree Rd	0.58mi	3/2.0	1,798 (+2%)	2mo	$181,000	$101	64
1411 Magnolia St SE	0.50mi	3/2.0	1,849 (+5%)	2mo	$204,000	$110	63
2216 Magnolia St SE	0.33mi	3/2.0	1,950 (+10%)	3mo	$292,000	$150	61
1210 Donna Ave	0.60mi	3/2.0	1,831 (+4%)	2mo	$235,000	$128	61
2308 13th St SE	0.50mi	3/1.5	1,595 (-10%)	5mo	$220,000	$138	54
1606 12th St SE	0.41mi	3/2.0	1,564 (-12%)	5mo	$181,500	$116	53
2024 Birch St SE	0.33mi	4/2.0 (+1)	1,950 (+10%)	8mo	$267,900	$137	52
1511 16th Ave SE	0.49mi	3/2.0	1,922 (+9%)	9mo	$189,900	$99	51
1214 Elizabeth Ave SE	0.59mi	3/2.0	1,534 (-13%)	2mo	$206,500	$135	44
1807 Murphree Rd SE	0.61mi	3/2.5	2,005 (+13%)	6mo	$294,500	$147	38

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 · 4.67% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.46×
• Total profit: $-29,727
• Equity at exit: $29,448

10-year hold

• IRR: -4.0%
• Equity multiple: 0.72×
• Total profit: $-15,685
• Equity at exit: $17,076

Cash invested: $55,300 (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 35601

• Home prices YoY: -26.5%
• Rents YoY: 4.7%
• Active inventory: 223
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,489 high
• Mortgage (P&I): −$1,036
• Tax from tax record: −$61 /mo · $730/yr
• Insurance: −$82
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-3

Break-even live

Break-even rent $1,492

Max offer price $197,017

Occupancy floor 95%

Sensitivity live

Price	-10% $109	-5% $53	+0% $-3	+5% $-59	+10% $-115
Rent	-10% $-120	-5% $-62	+0% $-3	+5% $56	+10% $115
Rate	-1.0pp $97	-0.5pp $47	base $-3	+0.5pp $-54	+1.0pp $-106

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: $49,375
• Closing costs: $5,925
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Broadus Ave SE Decatur, AL	3.0	2.0	1306	$1,195	$0.92	44d	1	0.67mi
2136 Eastbrook SE Decatur, AL	2.0	2.0	1400	$1,495	$1.07	44d	1	0.78mi
2217 Yorkshire SE Decatur, AL	3.0	2.0	1978	$2,000	$1.01	14d	1	0.84mi
1801 7th St SE Decatur, AL	4.0	2.0	1475	$1,550	$1.05	44d	1	0.86mi
1707 Buena Vista Cir SE Decatur, AL	3.0	2.0	1756	$1,350	$0.77	44d	1	0.98mi

Listing history 20 events

1. 2026-06-19
   days on market $197,500 Active 18 DOM
2. 2026-06-18
   days on market $197,500 Active 17 DOM
3. 2026-06-17
   days on market $197,500 Active 16 DOM
4. 2026-06-17
   price $197,500 Active 15 DOM
5. 2026-06-16
   days on market $223,000 Active 15 DOM
6. 2026-06-15
   days on market $223,000 Active 14 DOM
7. 2026-06-14
   days on market $223,000 Active 12 DOM
8. 2026-06-13
   days on market $223,000 Active 11 DOM
9. 2026-06-10
   days on market $223,000 Active 9 DOM
10. 2026-06-09
    days on market $223,000 Active 8 DOM
11. 2026-06-08
    days on market $223,000 Active 7 DOM
12. 2026-06-07
    days on market $223,000 Active 6 DOM
13. 2026-06-05
    days on market $223,000 Active 3 DOM
14. 2026-06-03
    days on market $223,000 Active 2 DOM
15. 2026-06-01
    days on marketlisting id $223,000 Active 1 DOM
16. 2026-05-09
    listed $223,000 Active 507-char remark
17. 2022-08-11
    soldstatus $182,000
18. 2022-08-05
    soldstatus $182,000 Sold 434-char remark

    Show marketing remark (434 chars)

    This wonderful house is on the market just in time for summer! With a pool & patio in the backyard, it has a great spot to cool off when you get hot. The detached 32x26 garage has a 1/2 bath, kitchen & plenty of room to work on projects on the main level & a spacious 32x18 storage area on the second floor with a 3/4 bath & partial kitchen. Make your plans to view in person soon, it will not last long on the market.

19. 2022-07-07
    historical Contingent 434-char remark

    Show marketing remark (434 chars)

    This wonderful house is on the market just in time for summer! With a pool & patio in the backyard, it has a great spot to cool off when you get hot. The detached 32x26 garage has a 1/2 bath, kitchen & plenty of room to work on projects on the main level & a spacious 32x18 storage area on the second floor with a 3/4 bath & partial kitchen. Make your plans to view in person soon, it will not last long on the market.

20. 2022-06-27
    listed $165,000 Active 434-char remark

    Show marketing remark (434 chars)

    This wonderful house is on the market just in time for summer! With a pool & patio in the backyard, it has a great spot to cool off when you get hot. The detached 32x26 garage has a 1/2 bath, kitchen & plenty of room to work on projects on the main level & a spacious 32x18 storage area on the second floor with a 3/4 bath & partial kitchen. Make your plans to view in person soon, it will not last long on the market.

ⓘ 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: $730 · $61/mo
• Projected year-2 tax: $810 · $67/mo
• Expected delta: +$80/yr (+$7/mo · 10.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,865
• − Mortgage interest: −$11,063
• − Property taxes: −$730
• − Insurance: −$988
• − Repairs & maintenance: −$1,429
• − Management: −$1,429
• − Depreciation: −$5,745
• Taxable loss: −$3,520
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $812/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 35,449
• Household income: $51,429
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1386.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 24% Black 24% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -89.26%
• Current HPI: 247.8437
• Rent YoY: ▲ 4.67%
• Metro: Decatur, 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

+19.7% since first listed

7 events — show timeline

• 2026-06-16 Price Changed $197,500 VMLS
• 2026-06-01 Listed $223,000 VMLS
• 2026-05-09 Listed $223,000 VMLS
• 2022-08-11 Sold (Public Records) $182,000 Public Records
• 2022-08-05 Sold (MLS) $182,000 VMLS
• 2022-07-07 Contingent — VMLS
• 2022-06-27 Listed $165,000 VMLS

Property tax history

+6.2%/yr

Latest (2025): $730 · +7.0% YoY. Source: county tax records.