6501 Covington Villas Dr · Tuscaloosa, AL 35405

$192,500

3 bd · 1.0 ba · 1,278 sqft · MultiFamily public records · 43 Days on market

Built 2005 $151/sqft · at area comps Est $187k · at est. $25/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 +15.5/30.0
• ARV discount +6.2/15.0
• DSCR +4.8/10.0
• Rent growth +3.9/5.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Location, updates, and low-maintenance living—this Covington Villas home checks every box! Just minutes from the interstate and Downtown Tuscaloosa, this 3 bedroom, 2 bath home features an open layout with LVP flooring, tray ceilings, and a gas fireplace. The kitchen offers newer stainless appliances (2023), bar seating, pantry, and a dining space. The primary suite includes a walk-in closet, linen closet, and double sinks. Enjoy a private, fenced backyard with low maintenance astroturf and wooded views. Major updates include a new roof (2025), HVAC (2023), water heater (2026), plus updated paint and flooring throughout. Move-in ready and easy to love, call today for more information!

Key facts

• Wooded views
• Gas fireplace
• Open layout

Tags

• PRIVATE FENCED BACKYARD
• WOODED VIEWS
• NEW ROOF
• NEWER STAINLESS APPLIANCES
• OPEN LAYOUT
• GAS FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $192k.

Deal economics

• At list price, monthly cash flow is $77 ($928/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 $159k (17.5% below list).
• Recommended offer: $159k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.4% in Tuscaloosa — 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 77/100 on livability (#9 in AL, #2,909 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, health & safety A+, cost of living A; Watch: crime F, employment D-.
• Tuscaloosa City (urban): math 19% / reading 40% proficiency, ranked #74 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Woodland Forrest Elementary School (math 13% / reading 32%, grade F, #435 of 627 statewide, top 69%, 561 students, 60% FRL); Eastwood Middle School (math 3% / reading 31%, grade F, #201 of 257 statewide, top 79%, 758 students, 78% FRL); Paul W Bryant High School (math 3% / reading 7%, grade F, #276 of 305 statewide, top 95%, 1,042 students, 48% FRL) — zoned schools at 62% FRL track the district average.
• Zoned-school proficiency averages 15% at this address vs 30% district-wide (-15 pts) — the specific schools serving this property underperform the Tuscaloosa City average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.4%/yr); 462 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 622 units permitted in Tuscaloosa County in 2024 (69 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/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.
• Tuscaloosa County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y 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 $111k; list at $192k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,763 (17.5% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 18% 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. 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 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: 0.82% ✗
• Cap rate: 6.78%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 10.1

CMA / ARV

• ARV (median comp): $187,012
• List price: $192,500
• Delta: 2.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6535 Covington Villas Drive Dr	0.04mi	3/2.0	1,278 (0%)	3mo	$159,900	$125	92
6717 Covington Villas Lane Ln	0.13mi	3/2.0	1,278 (0%)	2mo	$197,500	$155	88
6415 Covington Villas Dr Dr	0.04mi	2/2.0 (-1)	1,231 (-4%)	8mo	$183,850	$149	76
6228 Covington Villas Dr	0.13mi	3/2.0	1,130 (-12%)	3mo	$169,000	$150	68

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 · 5.42% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.58×
• Total profit: $-22,378
• Equity at exit: $28,702

10-year hold

• IRR: 0.9%
• Equity multiple: 1.07×
• Total profit: $3,644
• Equity at exit: $16,644

Cash invested: $53,900 (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 35405

• Home prices YoY: -26.9%
• Rents YoY: 5.4%
• Active inventory: 462
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,588 medium
• Mortgage (P&I): −$1,009
• Tax from tax record: −$62 /mo · $746/yr
• Insurance: −$80
• HOA: −$25
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $77

Break-even live

Break-even rent $1,490

Max offer price $192,500

Occupancy floor 90%

Sensitivity live

Price	-10% $186	-5% $132	+0% $77	+5% $23	+10% $-32
Rent	-10% $-48	-5% $15	+0% $77	+5% $140	+10% $203
Rate	-1.0pp $174	-0.5pp $126	base $77	+0.5pp $27	+1.0pp $-23

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: $48,125
• Closing costs: $5,775
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6717 Covington Villas Ln Tuscaloosa, AL	3.0	2.0	1278	$1,500	$1.17	15d	1	0.15mi
6330 Cashmere Pl Tuscaloosa, AL	3.0	2.0	1436	$1,600	$1.11	15d	1	1.13mi

HOA detail

• Monthly dues: $25 · $300/yr
• Likely covers: watergas

Listing history 6 events

1. 2026-04-15
   listed $192,500 Active 699-char remark

   Show marketing remark (699 chars)

   Location, updates, and low-maintenance living—this Covington Villas home checks every box! Just minutes from the interstate and Downtown Tuscaloosa, this 3 bedroom, 2 bath home features an open layout with LVP flooring, tray ceilings, and a gas fireplace. The kitchen offers newer stainless appliances (2023), bar seating, pantry, and a dining space. The primary suite includes a walk-in closet, linen closet, and double sinks. Enjoy a private, fenced backyard with low maintenance astroturf and wooded views. Major updates include a new roof (2025), HVAC (2023), water heater (2026), plus updated paint and flooring throughout. Move-in ready and easy to love, call today for more information!

2. 2017-05-04
   soldstatus $111,000
3. 2017-05-03
   soldstatus $111,000 572-char remark

   Show marketing remark (572 chars)

   Beautiful MOVE-IN READY 3 bedroom, 2 full bath home in Covington Villa! Living room & dining room feature gorgeous laminate wood flooring & high ceilings throughout! Great size open concept kitchen with all black appliances, pantry, bar seating, and dining area. Large master suite with walk-in closet, high ceiling, & double sinks! Spacious bedrooms with carpet flooring. Private fenced-in flat backyard backs up to woods and has a open patio & outdoor storage! This home is perfect for first-time home buyers and an easy commute to the interstate!

4. 2017-02-24
   listed $114,900 572-char remark

   Show marketing remark (572 chars)

   Beautiful MOVE-IN READY 3 bedroom, 2 full bath home in Covington Villa! Living room & dining room feature gorgeous laminate wood flooring & high ceilings throughout! Great size open concept kitchen with all black appliances, pantry, bar seating, and dining area. Large master suite with walk-in closet, high ceiling, & double sinks! Spacious bedrooms with carpet flooring. Private fenced-in flat backyard backs up to woods and has a open patio & outdoor storage! This home is perfect for first-time home buyers and an easy commute to the interstate!

5. 2013-05-15
   soldstatus $111,724
6. 2007-05-03
   soldstatus $122,570

ⓘ 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: $746 · $62/mo
• Projected year-2 tax: $789 · $66/mo
• Expected delta: +$43/yr (+$4/mo · 5.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,052
• − Mortgage interest: −$10,783
• − Property taxes: −$746
• − Insurance: −$962
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − HOA: −$300
• − Depreciation: −$5,600
• Taxable loss: −$2,388
• Est. tax savings @ 24.0%: +$573
• After-tax cash flow: $1,501/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: Tuscaloosa City
• NCES district ID: 0103360
• Math proficiency: 19% ▼ -24.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $37,474
• Composite: 24.51/100
• National rank: #7647
• State rank: #74 of 129 in AL

Livability — Tuscaloosa

• Score: 77/100
• State rank: #9
• US rank: #2909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tuscaloosa, AL
• County: Tuscaloosa County · 206,491 people
• City population: 134,228
• Metro: Tuscaloosa, AL
• Population (ZIP): 49,420
• Household income: $62,301
• Rent vs Own: 45.6% rent · 54.4% own
• Severe rent burden: 1963.0

Population outlook (Tuscaloosa County) Hauer SSP2

• Today (2025): 228,293 people
• By 2030: 240,551 · +5.4%
• By 2040: 263,856 · +15.6%
• By 2050: 286,491 · +25.5%
• By 2075: 335,783 · +47.1%
• By 2100: 370,520 · +62.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 56% White 35% Hispanic / Latino 5% Two or more races 3% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Tuscaloosa

• 2024 margin: Strong R (+20.4) · D 39.4% · R 59.8%
• 2008→2024 swing: -4.4pp toward R · 2008: -16.0pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+14.8 2016: R+19.5 2012: R+17.4 2008: R+16.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.25%
• Current HPI: 193.1929
• Rent YoY: ▲ 5.42%
• Metro: Tuscaloosa, 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

+57.1% since first listed

6 events — show timeline

• 2026-04-15 Listed $192,500 WAMLS
• 2017-05-04 Sold (Public Records) $111,000 Public Records
• 2017-05-03 Sold (MLS) $111,000 WAMLS
• 2017-02-24 Listed $114,900 WAMLS
• 2013-05-15 Sold (Public Records) $111,724 Public Records
• 2007-05-03 Sold (Public Records) $122,570 Public Records

Property tax history

-3.9%/yr

Latest (2025): $746 · +7.4% YoY. Source: county tax records.