806 Kennilworth Rd · Decatur, AL 35603

$129,000

3 bd · 1.0 ba · 978 sqft · SingleFamily public records · 74 Days on market

Built 1971 0.32 ac lot $132/sqft · 20% below area Est $161k · 20% under

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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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.3/10.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Location in Decatur with a great opportunity for an investor or a first time home owner. This home will need multiple repairs inside and out.This Property offers 3 bdrm and 1.5 bath, with a new central heat and air put in 2024. Home is brick with one car garage.

Key facts

• Brick
• 0.32 acre lot
• Garage

Tags

• NEW CENTRAL HEAT AND AIR
• BRICK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/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 $120k (6.7% below list).
• Recommended offer: $120k (6.7% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.0% in Decatur — 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 72/100 on livability (#28 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, employment D+, crime F.
• Decatur City (urban): math 22% / reading 40% proficiency, ranked #66 of 129 in AL (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 395 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 231 units permitted in Morgan County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($81k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Morgan County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 23% 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 $120,384 (6.7% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.93% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (median comp): $160,975
• List price: $129,000
• Delta: -19.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
806 Kennilworth Rd	0.00mi	3/1.5	978 (0%)	0mo	$112,000	$115	98
506 Pumpkin Dr SW	0.46mi	3/1.5	1,111 (+14%)	6mo	$165,000	$149	49
3107 Cornville Rd SW	0.59mi	3/1.5	1,062 (+9%)	15mo	$176,100	$166	44

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-10,508
• Equity at exit: $19,234

10-year hold

• IRR: 1.6%
• Equity multiple: 1.11×
• Total profit: $4,109
• Equity at exit: $11,154

Cash invested: $36,120 (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 35603

• Active inventory: 395
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,204 high
• Mortgage (P&I): −$676
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $164

Break-even live

Break-even rent $996

Max offer price $129,000

Occupancy floor 81%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2801 Sandlin Rd SW Decatur, AL	1.0–2.0	1.0	645	$999	$1.55	44d	6	0.54mi
306 Courtney Dr SW Unit 21 Decatur, AL	2.0	2.0	975	$975	$1.00	44d	1	0.73mi
305 Courtney Dr SW Decatur, AL	1.0–3.0	1.0–2.0	1200	$1,425	$1.19	44d	6	0.76mi
2500 Spring Ave SW Decatur, AL	1.0–2.0	1.0–2.0	825	$987	$1.20	44d	7	0.93mi
1242 Beltline Rd SW Decatur, AL	1.0–3.0	1.0–2.0	1118	$1,150	$1.03	44d	5	1.00mi
1321 Towerview St SW Decatur, AL	1.0–2.0	1.0	762	$964	$1.26	23d	3	1.14mi
1607 Glenn St SW Apt 2 Decatur, AL	2.0	1.5	950	$1,100	$1.16	44d	1	1.20mi

Listing history 1 events

1. 2026-03-09
   listed $129,000 Active 268-char remark

   Show marketing remark (268 chars)

   Great Location in Decatur with a great opportunity for an investor or a first time home owner. This home will need multiple repairs inside and out.This Property offers 3 bdrm and 1.5 bath, with a new central heat and air put in 2024. Home is brick with one car garage.

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $682 · $57/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,446
• − Mortgage interest: −$7,226
• − Property taxes: −$682
• − Insurance: −$645
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$3,753
• Taxable loss: −$171
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $2,008/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: Decatur City
• NCES district ID: 0101170
• Math proficiency: 22% ▼ -27.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $42,170
• Composite: 26.21/100
• National rank: #7261
• State rank: #66 of 129 in AL

Livability — Decatur

• Score: 72/100
• State rank: #28
• US rank: #5989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Decatur, AL
• County: Morgan County · 67,628 people
• City population: 67,628
• Metro: Decatur, AL
• Population (ZIP): 32,179
• Household income: $81,490
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 467.0

Population outlook (Morgan County) Hauer SSP2

• Today (2025): 118,775 people
• By 2030: 116,979 · -1.5%
• By 2040: 111,800 · -5.9%
• By 2050: 105,181 · -11.4%
• By 2075: 87,736 · -26.1%
• By 2100: 67,624 · -43.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 15% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Serbian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 5% Arabic 2%

Political lean MEDSL · Morgan

• 2024 margin: Solid R (+52.6) · D 23.2% · R 75.8%
• 2008→2024 swing: -8.8pp toward R · 2008: -43.8pp · 2024: -52.6pp
• All cycles: 2024: R+52.6 2020: R+49.2 2016: R+52.4 2012: R+44.5 2008: R+43.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.07%
• Current HPI: 243.157
• Rent YoY: —
• Metro: Decatur, 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

1 event — show timeline

• 2026-03-09 Listed $129,000 VMLS

Property tax history

+1.1%/yr

Latest (2025): $682 · +0.0% YoY. Source: county tax records.