1021 Springfield Ave · Gadsden, AL 35903

$145,500

4 bd · 1.0 ba · 1,430 sqft · SingleFamily public records · 59 Days on market

Built 1961 6,969 sqft lot $102/sqft · 67% above area

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Why this score? — see what drove the C 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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

Key facts

• Ideally located
• Updated
• Move in ready

Tags

• HARDWOOD FLOORS
• MOVE IN READY
• UPDATED
• IDEALLY LOCATED

Property features AI

Finance

• Other: Lot about 0.16 acres (approximately 50 x 139); Living area approximately 1,430 square feet; Directions: Travel E Meighan Blvd, just past Johnson's Grocery, turn left on Springfield Ave; house on the right
• HOA & community: No association; Subdivision: Glendale; Community curbs

Exterior

• Parking: Concrete driveway
• Utilities: Public water; Public sewer; Electric power available; Natural gas available
• Home design: Single-family residence; One story; Built in 1961; Residential property
• Construction: Vinyl siding
• Exterior features: Curb and gutters; Sidewalk; Covered porch; Covered patio

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central electric cooling
• Interior features: Crawl space foundation; 6 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $359 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.1% in Gadsden — 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 59/100 on livability (#335 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Gadsden City (urban): math 15% / reading 39% proficiency, ranked #87 of 129 in AL (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Litchfield Middle School (math 5% / reading 28%, grade F, #203 of 257 statewide, top 79%, 255 students, 91% FRL); Gadsden City High School (math 17% / reading 24%, grade F, #159 of 305 statewide, top 53%, 1,318 students, 76% FRL) — zoned schools average 83% FRL vs 66% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $110k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $141,135 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1961 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.56%
• DSCR: 1.47
• GRM: 7.7

CMA / ARV

• ARV (median comp): $87,352
• List price: $145,500
• Delta: 66.57%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 Windsor St	0.51mi	3/2.0 (-1)	1,354 (-5%)	16mo	$48,100	$36	45
225 Davis St	0.63mi	3/2.0 (-1)	1,502 (+5%)	10mo	$82,297	$55	45
619 Raley St	0.47mi	3/1.0 (-1)	1,256 (-12%)	11mo	$75,000	$60	44
1217 Wilbanks Ave	0.40mi	3/2.0 (-1)	1,338 (-6%)	22mo	$150,000	$112	43
615 Sizemore St	0.43mi	3/2.0 (-1)	1,345 (-6%)	22mo	$96,000	$71	43
1424 Meadowbrook Ave	0.63mi	3/1.0 (-1)	1,305 (-9%)	13mo	$84,900	$65	40
919 Maryland Ave	0.68mi	3/2.0 (-1)	1,496 (+5%)	18mo	$103,000	$69	36
1010 Martin Ave E	0.58mi	3/1.0 (-1)	1,230 (-14%)	14mo	$60,000	$49	33
1317 Stillman Ave	0.64mi	3/1.0 (-1)	1,241 (-13%)	15mo	$25,000	$20	31
604 Blythe St	0.68mi	3/2.0 (-1)	1,250 (-13%)	12mo	$191,000	$153	28
1228 Raley St	0.58mi	3/2.0 (-1)	1,588 (+11%)	22mo	$160,000	$101	28
924 Wilson Ave	0.74mi	3/2.0 (-1)	1,250 (-13%)	10mo	$179,900	$144	27

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-784
• Equity at exit: $21,695

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $28,537
• Equity at exit: $12,580

Cash invested: $40,740 (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 35903

• Home prices YoY: -11.0%
• Active inventory: 97
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$763
• Tax from tax record: −$66 /mo · $793/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $359

Break-even live

Break-even rent $1,126

Max offer price $145,500

Occupancy floor 72%

Sensitivity live

Price	-10% $441	-5% $400	+0% $359	+5% $317	+10% $276
Rent	-10% $234	-5% $296	+0% $359	+5% $421	+10% $483
Rate	-1.0pp $432	-0.5pp $396	base $359	+0.5pp $321	+1.0pp $283

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: $36,375
• Closing costs: $4,365
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $145,500 Active 59 DOM
2. 2026-06-19
   days on market $145,500 Active 57 DOM
3. 2026-06-18
   days on market $145,500 Active 56 DOM
4. 2026-06-17
   days on market $145,500 Active 55 DOM
5. 2026-06-16
   days on market $145,500 Active 54 DOM
6. 2026-06-15
   days on market $145,500 Active 53 DOM
7. 2026-06-14
   days on market $145,500 Active 51 DOM
8. 2026-06-12
   days on market $145,500 Active 50 DOM
9. 2026-06-09
   days on market $145,500 Active 47 DOM
10. 2026-06-08
    days on market $145,500 Active 46 DOM
11. 2026-06-07
    days on market $145,500 Active 45 DOM
12. 2026-06-07
    statusdays on market $145,500 Active 44 DOM
13. 2026-06-04
    days on market $145,500 Contingent 41 DOM
14. 2026-06-02
    days on market $145,500 Contingent 40 DOM
15. 2026-06-01
    days on market $145,500 Contingent 39 DOM
16. 2026-05-31
    days on market $145,500 Contingent 38 DOM
17. 2026-05-31
    days on market $145,500 Contingent 37 DOM
18. 2026-05-12
    historical Contingent 304-char remark
19. 2026-04-23
    listed $145,500 Active 304-char remark
20. 2024-06-05
    soldstatus $110,000 Sold 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

21. 2024-05-18
    status Pending 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

22. 2024-05-10
    historical Contingent 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

23. 2024-04-26
    price $115,000 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

24. 2024-02-14
    price $132,500 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

25. 2024-02-13
    status Active 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

26. 2023-12-18
    historical 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

27. 2023-12-06
    status Active 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

28. 2023-12-05
    historical 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

29. 2023-10-05
    listed $138,500 Active 449-char remark

    Show marketing remark (449 chars)

    This sweet cozy house is the one!!! It is great for a first-time home buyer or if you are looking to downsize, or maybe looking for an investment home. A newly remodeled home that is move-in ready! It has a new tin roof, new central heating/air, and beautiful hardwood floors! White-out kitchen with solid countertops, separate room for washer and dryer hook-up. Centrally located near shopping mart, schools, and highways. This one won't last long.

ⓘ 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: $793 · $66/mo
• Projected year-2 tax: $793 · $66/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,962
• − Mortgage interest: −$8,150
• − Property taxes: −$793
• − Insurance: −$728
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$4,233
• Taxable income: $2,025
• Est. tax owed @ 24.0%: −$486
• After-tax cash flow: $3,818/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: Gadsden City
• NCES district ID: 0101620
• Math proficiency: 15% ▼ -27.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $29,099
• Composite: 21.62/100
• National rank: #8292
• State rank: #87 of 129 in AL

Livability — Gadsden

• Score: 59/100
• State rank: #335
• US rank: #20131

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gadsden, AL
• Population (ZIP): 17,180

Population outlook (Etowah County) Hauer SSP2

• Today (2025): 100,500 people
• By 2030: 98,488 · -2.0%
• By 2040: 93,731 · -6.7%
• By 2050: 88,681 · -11.8%
• By 2075: 76,746 · -23.6%
• By 2100: 65,373 · -35.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (62%)
• Race & ethnicity: White 62% Black 31% Hispanic / Latino 4% Two or more races 4% Asian 1%
• Common ancestry: Italian 3% Slovak 2% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Etowah

• 2024 margin: Solid R (+55.7) · D 21.8% · R 77.5%
• 2008→2024 swing: -17.5pp toward R · 2008: -38.2pp · 2024: -55.7pp
• All cycles: 2024: R+55.7 2020: R+50.2 2016: R+50.1 2012: R+38.4 2008: R+38.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -29.07%
• Current HPI: 236.2537
• 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

+5.1% since first listed

13 events — show timeline

• 2026-06-04 Relisted — VMLS
• 2026-05-12 Contingent — VMLS
• 2026-04-23 Listed $145,500 VMLS
• 2024-06-05 Sold (MLS) $110,000 Greater Alabama MLS
• 2024-05-18 Pending — Greater Alabama MLS
• 2024-05-10 Contingent — Greater Alabama MLS
• 2024-04-26 Price Changed $115,000 Greater Alabama MLS
• 2024-02-14 Price Changed $132,500 Greater Alabama MLS
• 2024-02-13 Relisted — Greater Alabama MLS
• 2023-12-18 Delisted — Greater Alabama MLS
• 2023-12-06 Relisted — Greater Alabama MLS
• 2023-12-05 Delisted — Greater Alabama MLS
• 2023-10-05 Listed $138,500 Greater Alabama MLS

Property tax history

+5.2%/yr

Latest (2025): $793 · +156.8% YoY. Source: county tax records.