1501 Martin Luther King Dr · Hobson City, AL 36201

$49,900

1 bd · 1.0 ba · 1,106 sqft · SingleFamily public records · 46 Days on market

Built 1940 4.73 ac lot $45/sqft · 46% below area

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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
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

tax appraisal 53,000. 4.8 acres house needs complete rehab value is in the land

Key facts

• 4.73 acre lot
• Built 1940
• Listed 46 days

Property features AI

Finance

• Other: Property contains approximately 4.73 acres
• Financial info: Has down payment assistance

Exterior

• Parking: Driveway parking
• Utilities: Public water; Connected sewer; Internet service available
• Home design: Wood construction; Existing (previously built); Crawl space foundation
• Construction: Wood construction
• Exterior features: Not waterfront; No pool; No patio; No garden/patio; No decks

Interior

• Bedrooms: Three bedrooms, all on the main level
• Flooring: Subflooring
• Bathrooms: One full bathroom
• Heating & cooling: No heating; No air conditioning
• Interior features: Ceilings noted as other (see remarks); No built-in interior features listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($875 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#170 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: employment D+, crime D-, amenities F.
• Oxford City (urban): math 27% / reading 55% proficiency, ranked #22 of 129 in AL (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oxford Elementary School (math 34% / reading 55%, grade F, #171 of 627 statewide, top 31%, 794 students, 60% FRL); Oxford High School (math 36% / reading 52%, grade F, #25 of 305 statewide, top 8%, 1,288 students, 61% FRL).
• Market conditions: 73 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
5. Crime grade is D 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?
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: 1.75% ✓
• Cap rate: 15.17%
• Cash-on-cash: 31.69%
• DSCR: 2.41
• GRM: 4.8

CMA / ARV

• ARV (median comp): $107,890
• List price: $49,900
• Delta: -53.75%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 26.6%
• Equity multiple: 2.10×
• Total profit: $15,417
• Equity at exit: $7,440

10-year hold

• IRR: 34.2%
• Equity multiple: 4.13×
• Total profit: $43,686
• Equity at exit: $4,314

Cash invested: $13,972 (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 36201

• Active inventory: 73
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $875 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$40 /mo · $477/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $369

Break-even live

Break-even rent $408

Max offer price $49,900

Occupancy floor 53%

Sensitivity live

Price	-10% $397	-5% $383	+0% $369	+5% $355	+10% $341
Rent	-10% $300	-5% $334	+0% $369	+5% $404	+10% $438
Rate	-1.0pp $394	-0.5pp $382	base $369	+0.5pp $356	+1.0pp $343

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
600 McPherson St Apt 2 Oxford, AL	2.0	1.0	950	$875	$0.92	45d	1	1.20mi

Listing history 19 events

1. 2026-06-21
   days on market $49,900 Active 46 DOM
2. 2026-06-19
   days on market $49,900 Active 44 DOM
3. 2026-06-18
   days on market $49,900 Active 43 DOM
4. 2026-06-17
   days on market $49,900 Active 42 DOM
5. 2026-06-16
   days on market $49,900 Active 41 DOM
6. 2026-06-15
   days on market $49,900 Active 40 DOM
7. 2026-06-14
   days on market $49,900 Active 38 DOM
8. 2026-06-13
   days on market $49,900 Active 37 DOM
9. 2026-06-10
   days on market $49,900 Active 35 DOM
10. 2026-06-09
    days on market $49,900 Active 34 DOM
11. 2026-06-08
    days on market $49,900 Active 33 DOM
12. 2026-06-07
    days on market $49,900 Active 32 DOM
13. 2026-06-05
    days on market $49,900 Active 29 DOM
14. 2026-06-03
    days on market $49,900 Active 28 DOM
15. 2026-06-02
    days on market $49,900 Active 27 DOM
16. 2026-06-01
    days on market $49,900 Active 26 DOM
17. 2026-05-31
    days on market $49,900 Active 25 DOM
18. 2026-05-30
    days on market $49,900 Active 24 DOM
19. 2026-05-06
    listed $49,900 Active 82-char remark

ⓘ 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: $477 · $40/mo
• Projected year-2 tax: $477 · $40/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,500
• − Mortgage interest: −$2,795
• − Property taxes: −$477
• − Insurance: −$250
• − Repairs & maintenance: −$840
• − Management: −$840
• − Depreciation: −$1,452
• Taxable income: $3,847
• Est. tax owed @ 24.0%: −$923
• After-tax cash flow: $3,505/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: Oxford City
• NCES district ID: 0102635
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 55% ▲ 5.00%
• Median HH income: $48,971
• Composite: 35.11/100
• National rank: #5017
• State rank: #22 of 129 in AL

Livability — Hobson City

• Score: 64/100
• State rank: #170
• US rank: #14815

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hobson City, AL
• Population (ZIP): 17,406

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 109,765 people
• By 2030: 105,708 · -3.7%
• By 2040: 96,192 · -12.4%
• By 2050: 86,413 · -21.3%
• By 2075: 63,467 · -42.2%
• By 2100: 44,704 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 47% Black 46% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 1% Scandinavian 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+44.8) · D 27.2% · R 71.9%
• 2008→2024 swing: -12.2pp toward R · 2008: -32.5pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+39.0 2016: R+41.4 2012: R+31.9 2008: R+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.92%
• Current HPI: 59.1512
• 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

1 event — show timeline

• 2026-05-06 Listed $49,900 Greater Alabama MLS

Property tax history

+7.4%/yr

Latest (2025): $477 · -2.2% YoY. Source: county tax records.