110 Clay Dr · Hayden, AL 35079

$350,000

12 bd · 9.0 ba · 2,584 sqft · MultiFamily public records · 138 Days on market

Built 1989 2.00 ac lot

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Why this score? — see what drove the B- 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 +29.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 3 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Tucked in the woods, this unique 3060 sq ft triplex offers the rare charm of a Gatlinburg-style retreat paired with solid income potential for investors. Surrounded by 2 acres of natural beauty and a rich local history, the property provides a peaceful cabin-like atmosphere while remaining convenient to Cullman & Bham. The upper level unit features a 2 bed/1 bath layout with spacious living spaces. On the lower level, you'll find 2 separate living spaces- a well designed studio apartment (complete w a living room, kitchen, bathroom, & laundry), as well as a 1 bed bed/1 bath apartment- both offering comfortable, private living. All units are currently rented, providing immediate cash flow. The property includes ample outdoor space, presenting potential for future developments. This is a solid opportunity for investors seeking a fully leased multifamily property with stable income and future upside. Don't let this one slip away! (Please allow 48 hour notice for showings. )

Key facts

• Ample outdoor space
• 2 acre lot
• Built 1989

Tags

• 2 ACRES OF NATURAL BEAUTY
• WELL DESIGNED STUDIO APARTMENT
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/1.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $409/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 4.2% in Hayden — 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 65/100 on livability (#137 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Blount County (rural): math 20% / reading 45% proficiency, ranked #54 of 129 in AL (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 54 active listings in the ZIP; 13 units permitted in Blount County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Blount County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $190k; list at $350k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wind risk, 25% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.83%
• DSCR: 1.70
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $21,292
• Equity at exit: $52,186

10-year hold

• IRR: 15.0%
• Equity multiple: 2.21×
• Total profit: $118,765
• Equity at exit: $30,262

Cash invested: $98,000 (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 35079

• Home prices YoY: -12.4%
• Active inventory: 54
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $4,314 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$134 /mo · $1,611/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$906
• Net cashflow: $1,226

Break-even live

Break-even rent $2,762

Max offer price $350,000

Occupancy floor 67%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	4	1	$4,314
Total (3 units)			$4,314

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-05
   days on market $350,000 Active 138 DOM
2. 2026-06-03
   days on market $350,000 Active 137 DOM
3. 2026-06-02
   days on market $350,000 Active 136 DOM
4. 2026-06-01
   days on market $350,000 Active 135 DOM
5. 2026-05-31
   days on market $350,000 Active 134 DOM
6. 2026-01-17
   listed $350,000 Active 996-char remark

   Show marketing remark (996 chars)

   Tucked in the woods, this unique 3060 sq ft triplex offers the rare charm of a Gatlinburg-style retreat paired with solid income potential for investors. Surrounded by 2 acres of natural beauty and a rich local history, the property provides a peaceful cabin-like atmosphere while remaining convenient to Cullman & Bham. The upper level unit features a 2 bed/1 bath layout with spacious living spaces. On the lower level, you'll find 2 separate living spaces- a well designed studio apartment (complete w a living room, kitchen, bathroom, & laundry), as well as a 1 bed bed/1 bath apartment- both offering comfortable, private living. All units are currently rented, providing immediate cash flow. The property includes ample outdoor space, presenting potential for future developments. This is a solid opportunity for investors seeking a fully leased multifamily property with stable income and future upside. Don't let this one slip away! (Please allow 48 hour notice for showings. )

7. 2024-01-09
   price $325,000
8. 2023-11-17
   price $349,000
9. 2021-08-27
   soldstatus $189,900
10. 2021-08-24
    soldstatus $189,900 Sold
11. 2021-08-18
    historical
12. 2021-07-21
    historical Contingent
13. 2021-07-01
    historical
14. 2021-04-03
    historical Contingent
15. 2021-03-08
    status Active
16. 2021-02-11
    historical Contingent
17. 2021-02-11
    price $189,900
18. 2021-02-10
    status Active
19. 2020-11-25
    historical Contingent
20. 2020-09-30
    status Active
21. 2020-08-12
    historical Contingent
22. 2020-07-23
    listed $200,000 Active

ⓘ 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: $1,611 · $134/mo
• Projected year-2 tax: $1,611 · $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 8/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 25% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,768
• − Mortgage interest: −$19,605
• − Property taxes: −$1,611
• − Insurance: −$2,548
• − Repairs & maintenance: −$4,141
• − Management: −$4,141
• − Depreciation: −$10,182
• Taxable income: $9,539
• Est. tax owed @ 24.0%: −$2,289
• After-tax cash flow: $12,423/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: Blount County
• NCES district ID: 0100420
• Math proficiency: 20% ▼ -25.00%
• Reading proficiency: 45% ▼ -1.00%
• Median HH income: $45,961
• Composite: 27.79/100
• National rank: #6891
• State rank: #54 of 129 in AL

Livability — Hayden

• Score: 65/100
• State rank: #137
• US rank: #13359

Category grades

Amenities F 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

• Population (ZIP): 9,388

Population outlook (Blount County) Hauer SSP2

• Today (2025): 57,983 people
• By 2030: 57,405 · -1.0%
• By 2040: 55,602 · -4.1%
• By 2050: 53,393 · -7.9%
• By 2075: 48,248 · -16.8%
• By 2100: 44,190 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Blount

• 2024 margin: Solid R (+81.0) · D 9.2% · R 90.2%
• 2008→2024 swing: -11.5pp toward R · 2008: -69.5pp · 2024: -81.0pp
• All cycles: 2024: R+81.0 2020: R+80.0 2016: R+81.4 2012: R+74.1 2008: R+69.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.00%
• Current HPI: 255.3136
• 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

+75.0% since first listed

17 events — show timeline

• 2026-01-17 Listed $350,000 Greater Alabama MLS
• 2024-01-09 Price Changed $325,000 Greater Alabama MLS
• 2023-11-17 Price Changed $349,000 Greater Alabama MLS
• 2021-08-27 Sold (Public Records) $189,900 Public Records
• 2021-08-24 Sold (MLS) $189,900 Greater Alabama MLS
• 2021-08-18 Delisted — Greater Alabama MLS
• 2021-07-21 Contingent — Greater Alabama MLS
• 2021-07-01 Delisted — Greater Alabama MLS
• 2021-04-03 Contingent — Greater Alabama MLS
• 2021-03-08 Relisted — Greater Alabama MLS
• 2021-02-11 Contingent — Greater Alabama MLS
• 2021-02-11 Price Changed $189,900 Greater Alabama MLS
• 2021-02-10 Relisted — Greater Alabama MLS
• 2020-11-25 Contingent — Greater Alabama MLS
• 2020-09-30 Relisted — Greater Alabama MLS
• 2020-08-12 Contingent — Greater Alabama MLS
• 2020-07-23 Listed $200,000 Greater Alabama MLS

Property tax history

+6.5%/yr

Latest (2025): $1,611 · +4.2% YoY. Source: county tax records.