245 Co Rd 620 · Hanceville, AL 35077

$65,000

2 bd · 1.0 ba · 1,010 sqft · SingleFamily public records · 24 Days on market

Built 1917 2.00 ac lot ↓ 19% 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 +3.1/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step back in time with this quaint 1050 sq ft home, built in 1917 and full of character. Sitting on nearly 2 private acres, this property offers the perfect blend of seclusion and convenience. Tucked away on a peaceful county road, yet just a short drive from Hanceville city amenities and Wallace State College, it’s a rare find at this price. The main home is ready for a creative touch – an ideal project for those looking to restore historic charm or craft their dream country retreat. Out back, a small tiny house adds extra flexibility: guest space, studio, office, or potential rental income. Disclaimer: Buyer to verify all details, including but not limited to square footage, s

Key facts

• Private acres
• Office
• Guest space

Tags

• PRIVATE ACRES
• PEACEFUL COUNTY ROAD
• GUEST SPACE
• STUDIO
• OFFICE
• POTENTIAL RENTAL INCOME

Property features AI

Exterior

• Parking: Driveway
• Utilities: Septic tank
• Home design: Single-family residence (residential property)
• Exterior features: Irregular lot approximately 2 acres

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Interior features: Gas log fireplace (1 total); 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 3.7% in Hanceville — 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 61/100 on livability (#244 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Cullman County (rural): math 19% / reading 49% proficiency, ranked #49 of 129 in AL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hanceville Elementary School (math 14% / reading 46%, grade F, #364 of 627 statewide, top 58%, 624 students, 78% FRL); Hanceville Middle School (math 12% / reading 51%, grade F, #114 of 257 statewide, top 45%, 304 students, 77% FRL); Hanceville High School (math 17% / reading 17%, grade F, #195 of 305 statewide, top 68%, 366 students, 66% FRL) — zoned schools average 74% FRL vs 52% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 133 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.52% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.23%
• DSCR: 2.17
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 20.0%
• Equity multiple: 1.81×
• Total profit: $14,780
• Equity at exit: $9,692

10-year hold

• IRR: 28.2%
• Equity multiple: 3.49×
• Total profit: $45,390
• Equity at exit: $5,620

Cash invested: $18,200 (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 35077

• Home prices YoY: -12.6%
• Active inventory: 133
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$14 /mo · $164/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $398

Break-even live

Break-even rent $483

Max offer price $65,000

Occupancy floor 55%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 College Dr NE Hanceville, AL	1.0–3.0	1.0–2.0	762	$1,184	$1.55	1d	23	0.64mi
600 Edmondson Rd Unit 640-7 Hanceville, AL	2.0	1.0	850	$850	$1.00	11d	1	0.76mi
400 Arkadelphia Rd Unit 36 Hanceville, AL	2.0	1.0	700	$800	$1.14	3d	1	0.98mi
400 Arkadelphia Rd Unit 26 Hanceville, AL	2.0	1.0	700	$825	$1.18	23d	1	0.98mi

Listing history 19 events

1. 2026-06-19
   days on market $65,000 Active 24 DOM
2. 2026-06-18
   days on market $65,000 Active 23 DOM
3. 2026-06-17
   days on market $65,000 Active 22 DOM
4. 2026-06-16
   days on market $65,000 Active 21 DOM
5. 2026-06-15
   days on market $65,000 Active 20 DOM
6. 2026-06-14
   days on market $65,000 Active 18 DOM
7. 2026-06-12
   days on market $65,000 Active 17 DOM
8. 2026-06-09
   days on market $65,000 Active 14 DOM
9. 2026-06-08
   days on market $65,000 Active 13 DOM
10. 2026-06-07
    days on market $65,000 Active 12 DOM
11. 2026-06-05
    days on market $65,000 Active 9 DOM
12. 2026-06-03
    days on market $65,000 Active 8 DOM
13. 2026-06-02
    days on market $65,000 Active 7 DOM
14. 2026-06-01
    days on market $65,000 Active 6 DOM
15. 2026-05-31
    days on market $65,000 Active 5 DOM
16. 2026-05-30
    days on market $65,000 Active 4 DOM
17. 2026-05-23
    listed $65,000 Active
18. 2025-08-19
    listed $80,000 Active
19. 2025-08-14
    soldstatus $80,100

ⓘ 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: $164 · $14/mo
• Projected year-2 tax: $266 · $22/mo
• Expected delta: +$103/yr (+$9/mo · 63.0%)

ⓘ 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 ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,839
• − Mortgage interest: −$3,641
• − Property taxes: −$164
• − Insurance: −$325
• − Repairs & maintenance: −$947
• − Management: −$947
• − Depreciation: −$1,891
• Taxable income: $3,925
• Est. tax owed @ 24.0%: −$942
• After-tax cash flow: $3,832/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: Cullman County
• NCES district ID: 0101020
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 49% ▲ 1.00%
• Median HH income: $39,449
• Composite: 28.39/100
• National rank: #6767
• State rank: #49 of 129 in AL

Livability — Hanceville

• Score: 61/100
• State rank: #244
• US rank: #17639

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cullman County · 47,767 people
• City population: 13,107
• Metro: Cullman, AL
• Population (ZIP): 13,107
• Household income: $48,276
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 323.0

Population outlook (Cullman County) Hauer SSP2

• Today (2025): 84,522 people
• By 2030: 85,402 · +1.0%
• By 2040: 86,152 · +1.9%
• By 2050: 85,202 · +0.8%
• By 2075: 79,679 · -5.7%
• By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 5% Black 4% Hispanic / Latino 3%
• Common ancestry: Serbian 2% Slovak 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Cullman

• 2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
• 2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
• All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.31%
• Current HPI: 258.7978
• Rent YoY: —
• Metro: Cullman, 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

-18.9% since first listed

3 events — show timeline

• 2026-05-23 Listed $65,000 SAARMLS
• 2025-08-19 Listed $80,000 SAARMLS
• 2025-08-14 Sold (Public Records) $80,100 Public Records

Property tax history

+3.2%/yr

Latest (2025): $164 · +0.0% YoY. Source: county tax records.