1224 Reeder St · Florence, AL 35630

$35,000

1 bd · 1.0 ba · 600 sqft · SingleFamily public records · 79 Days on market

Built 1943 3,049 sqft lot $58/sqft · 57% below area ↓ 53% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special!! 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Home is being sold as-is. Buyer to verify all information prior to closing.

Key facts

• Downtown florence
• Investment property
• Prime location

Tags

• INVESTMENT PROPERTY
• PRIME LOCATION
• DOWNTOWN FLORENCE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($834 rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 21.6% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.2%/yr); 269 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $5k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1943 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1943 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.38% ✓
• Cap rate: 21.55%
• Cash-on-cash: 54.50%
• DSCR: 3.43
• GRM: 3.5

CMA / ARV

• ARV (median comp): $82,074
• List price: $35,000
• Delta: -57.36%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Sannoner Ave	0.57mi	1/1.0	522 (-13%)	24mo	$72,000	$138	32

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: 47.5%
• Equity multiple: 3.17×
• Total profit: $21,233
• Equity at exit: $5,219

10-year hold

• IRR: 54.6%
• Equity multiple: 7.30×
• Total profit: $61,747
• Equity at exit: $3,026

Cash invested: $9,800 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 269
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $834 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$15 /mo · $184/yr
• Insurance: −$15
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $379

Break-even live

Break-even rent $354

Max offer price $35,000

Occupancy floor 50%

Sensitivity live

Price	-10% $398	-5% $389	+0% $379	+5% $369	+10% $359
Rent	-10% $313	-5% $346	+0% $379	+5% $412	+10% $445
Rate	-1.0pp $396	-0.5pp $388	base $379	+0.5pp $370	+1.0pp $360

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 E Mobile St Unit 2 Florence, AL	1.0	1.0	550	$775	$1.41	45d	1	0.49mi
511 E Tombigbee St Unit 3 Florence, AL	1.0	1.0	500	$650	$1.30	45d	1	0.71mi
724 Kendrick St Apt 1 Florence, AL	1.0	1.0	600	$675	$1.12	45d	1	1.02mi
425 W Tennessee St Unit "I" Florence, AL	1.0	1.0	615	$800	$1.30	45d	1	1.29mi

Listing history 22 events

1. 2026-06-21
   days on market $35,000 Active 79 DOM
2. 2026-06-19
   days on market $35,000 Active 77 DOM
3. 2026-06-18
   days on market $35,000 Active 76 DOM
4. 2026-06-17
   days on market $35,000 Active 75 DOM
5. 2026-06-16
   days on market $35,000 Active 74 DOM
6. 2026-06-15
   days on market $35,000 Active 73 DOM
7. 2026-06-14
   days on market $35,000 Active 71 DOM
8. 2026-06-13
   days on market $35,000 Active 70 DOM
9. 2026-06-10
   days on market $35,000 Active 68 DOM
10. 2026-06-09
    days on market $35,000 Active 67 DOM
11. 2026-06-08
    days on market $35,000 Active 66 DOM
12. 2026-06-05
    days on market $35,000 Active 62 DOM
13. 2026-06-02
    days on market $35,000 Active 60 DOM
14. 2026-06-01
    days on market $35,000 Active 59 DOM
15. 2026-05-31
    days on market $35,000 Active 58 DOM
16. 2026-05-30
    days on market $35,000 Active 57 DOM
17. 2026-05-18
    price $35,000 299-char remark

    Show marketing remark (299 chars)

    Investor Special!! 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Home is being sold as-is. Buyer to verify all information prior to closing.

18. 2026-04-03
    listed $39,900 Active 299-char remark

    Show marketing remark (299 chars)

    Investor Special!! 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Home is being sold as-is. Buyer to verify all information prior to closing.

19. 2023-06-28
    soldstatus $31,000 Closed 670-char remark

    Show marketing remark (670 chars)

    Cozy 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Currently rented, this property offers a steady rental income stream, making it an appealing investment opportunity. Tenant information is available to qualified buyers upon request. Seller requests all buyers are pre-approved or hold a proof of funds letter. This property may not qualify for certain loan types. Home is being sold as-is and is currently occupied so 24 hours notice is requested for showings. Buyer to verify all information prior to closing.

20. 2023-06-16
    status Pending 670-char remark

    Show marketing remark (670 chars)

    Cozy 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Currently rented, this property offers a steady rental income stream, making it an appealing investment opportunity. Tenant information is available to qualified buyers upon request. Seller requests all buyers are pre-approved or hold a proof of funds letter. This property may not qualify for certain loan types. Home is being sold as-is and is currently occupied so 24 hours notice is requested for showings. Buyer to verify all information prior to closing.

21. 2023-06-12
    listed $30,000 Active 670-char remark

    Show marketing remark (670 chars)

    Cozy 1-bedroom, 1-bathroom investment property nestled in downtown Florence. This property offers an excellent opportunity for investors seeking a prime location near the newly rejuvenated Sweetwater district. Currently rented, this property offers a steady rental income stream, making it an appealing investment opportunity. Tenant information is available to qualified buyers upon request. Seller requests all buyers are pre-approved or hold a proof of funds letter. This property may not qualify for certain loan types. Home is being sold as-is and is currently occupied so 24 hours notice is requested for showings. Buyer to verify all information prior to closing.

22. 2022-12-09
    soldstatus $74,500

ⓘ 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: $184 · $15/mo
• Projected year-2 tax: $184 · $15/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 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $10,004
• − Mortgage interest: −$1,961
• − Property taxes: −$184
• − Insurance: −$972
• − Repairs & maintenance: −$800
• − Management: −$800
• − Depreciation: −$1,018
• Taxable income: $4,268
• Est. tax owed @ 24.0%: −$1,024
• After-tax cash flow: $3,520/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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

-53.0% since first listed

6 events — show timeline

• 2026-05-18 Price Changed $35,000 SAARMLS
• 2026-04-03 Listed $39,900 SAARMLS
• 2023-06-28 Sold (MLS) $31,000 SAARMLS
• 2023-06-16 Pending — SAARMLS
• 2023-06-12 Listed $30,000 SAARMLS
• 2022-12-09 Sold (Public Records) $74,500 Public Records

Property tax history

+2.7%/yr

Latest (2025): $184 · +6.8% YoY. Source: county tax records.