26894 Spyglass Dr · Orange Beach, AL 36561

$345,000

3 bd · 2.5 ba · 1,516 sqft · Townhouse public records

Built 2021 1,132 sqft lot Est $661k · 48% under $300/mo HOA · 9% of rent

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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 +16.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Schools +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the charming Spyglass community in Orange Beach, this charming 3 bed 2.5 bath GOLD FORTIFIED END UNIT townhome offers comfortable coastal living just minutes from the beautiful Gulf beaches, dining, shopping, and entertainment. Welcome to Spyglass in Orange Beach!Inside, you'll find numerous upgrades throughout, including luxury flooring with no carpet, an oak staircase, custom-designed bedroom closets, plantation shutters on every window, updated bathroom mirrors, lighting, and shower heads, as well as stylish ceiling fans. The kitchen has been enhanced with updated lighting, a decorative backsplash, wainscoting under the breakfast bar, and custom wood shelving in the pantry. The laundry room features added cabinetry for extra storage and organization. The spacious rear deck includes a privacy screen, creating the perfect outdoor retreat. Additional value-added features include a washer, dryer, and refrigerator that convey, overhead garage storage with pegboard, and a GenerLink EMC quick-connect system for a generator (approximately $1,100 value), which also conveys with the property. The seller is willing to sell the home partially furnished, offering a move-in-ready opportunity for buyers. For added peace of mind, the HVAC system and grinder pump have been professionally serviced annually. Whether you're looking for a primary residence, second home, or investment property, this meticulously maintained townhome is a must-see in the Spyglass community. Buyer to verify all information during due diligence.

Key facts

• $300 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $345k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/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 $323k (6.2% below list).
• Recommended offer: $323k (6.2% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 0.2% in Orange Beach — 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 75/100 on livability (#17 in AL, #3,891 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, amenities C-, commute F.
• Zoned schools: Orange Beach Elementary School (math 63% / reading 80%); Orange Beach Middlehigh School (631 students, 24% FRL).
• Market conditions: 89 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).
• This rent runs 39% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Baldwin County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $323,454 (6.2% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.94% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.68%
• DSCR: 1.12
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $660,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26941 Spyglass Dr	0.06mi	3/2.5	1,500 (-1%)	2mo	$345,000	$230	93
26954 Spyglass Dr	0.09mi	3/2.5	1,516 (0%)	4mo	$320,000	$211	93
26996 Spyglass Dr	0.05mi	3/2.5	1,451 (-4%)	1mo	$355,000	$245	90
26940 Spyglass Dr	0.09mi	3/2.5	1,451 (-4%)	1mo	$335,000	$231	88
27282 Canal Rd #104	0.36mi	3/3.0	1,423 (-6%)	4mo	$649,000	$456	68
27282 Canal Rd #207	0.36mi	4/3.0 (+1)	1,604 (+6%)	1mo	$725,000	$452	66
4551 Walker Key Blvd Unit G4	0.25mi	2/2.0 (-1)	1,388 (-8%)	4mo	$468,000	$337	64
4615 Nancy Ln #8	0.64mi	3/2.5	1,618 (+7%)	3mo	$390,000	$241	57
27580 Canal Rd #1504	0.65mi	2/2.0 (-1)	1,308 (-14%)	2mo	$660,000	$505	38
27580 Canal Rd #1210	0.65mi	2/2.0 (-1)	1,308 (-14%)	3mo	$699,999	$535	38
27582 Canal Rd #2310	0.72mi	2/2.0 (-1)	1,308 (-14%)	3mo	$575,000	$440	34
27582 Canal Rd #2110	0.72mi	2/2.0 (-1)	1,308 (-14%)	4mo	$570,000	$436	34

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: -12.1%
• Equity multiple: 0.56×
• Total profit: $-42,137
• Equity at exit: $51,441

10-year hold

• IRR: -2.9%
• Equity multiple: 0.80×
• Total profit: $-18,905
• Equity at exit: $29,829

Cash invested: $96,600 (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 36561

• Active inventory: 89
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $3,235 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$86 /mo · $1,038/yr
• Insurance: −$144
• HOA: −$300
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $216

Break-even live

Break-even rent $2,961

Max offer price $345,000

Occupancy floor 88%

Sensitivity live

Price	-10% $411	-5% $313	+0% $216	+5% $118	+10% $21
Rent	-10% $-40	-5% $88	+0% $216	+5% $344	+10% $471
Rate	-1.0pp $390	-0.5pp $304	base $216	+0.5pp $126	+1.0pp $35

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4532 Walker Key Blvd Unit F-1 Orange Beach, AL	3.0	2.0	1258	$3,250	$2.58	45d	1	0.32mi
27481 Canal Rd Orange Beach, AL	3.0	3.0	1741	$3,450	$1.98	45d	1	0.56mi
4216 Antigua Ct Orange Beach, AL	4.0	3.5	1718	$3,200	$1.86	45d	1	0.72mi
25624 W Perdido Ave Orange Beach, AL	2.0	2.0	1170	$1,580	$1.35	15d	3	1.29mi
4681 Casablanca Dr Orange Beach, AL	3.0	3.0	2011	$3,250	$1.62	45d	1	1.43mi

HOA detail

• Monthly dues: $300 · $3,600/yr

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $345,000 Pending

ⓘ 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: $1,038 · $86/mo
• Projected year-2 tax: $1,415 · $118/mo
• Expected delta: +$377/yr (+$31/mo · 36.3%)

ⓘ 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 10/10 Extreme 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% 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: $38,814
• − Mortgage interest: −$19,325
• − Property taxes: −$1,038
• − Insurance: −$1,725
• − Repairs & maintenance: −$3,105
• − Management: −$3,105
• − HOA: −$3,600
• − Depreciation: −$10,036
• Taxable loss: −$3,120
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $3,339/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)

No district data.

Livability — Orange Beach

• Score: 75/100
• State rank: #17
• US rank: #3891

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Orange Beach, AL
• County: Baldwin County · 181,514 people
• City population: 9,528
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 9,528
• Household income: $98,295
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 179.0

Population outlook (Baldwin County) Hauer SSP2

• Today (2025): 248,264 people
• By 2030: 270,315 · +8.9%
• By 2040: 312,967 · +26.1%
• By 2050: 352,262 · +41.9%
• By 2075: 438,841 · +76.8%
• By 2100: 487,736 · +96.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Black 4% Hispanic / Latino 2% Asian 1%
• Common ancestry: Lithuanian 4% Slovak 4% Russian 3%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Baldwin

• 2024 margin: Solid R (+58.2) · D 20.5% · R 78.7%
• 2008→2024 swing: -6.7pp toward R · 2008: -51.5pp · 2024: -58.2pp
• All cycles: 2024: R+58.2 2020: R+53.8 2016: R+57.8 2012: R+55.8 2008: R+51.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.50%
• Current HPI: 270.8382
• Rent YoY: —
• Metro: Daphne-Fairhope-Foley, 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

+43.8% since first listed

8 events — show timeline

• 2026-06-15 Listed $345,000 BCAR
• 2026-06-15 Delisted — BCAR
• 2022-09-27 Sold (Public Records) $315,000 Public Records
• 2022-09-21 Sold (MLS) $315,000 BCAR
• 2022-08-09 Pending — BCAR
• 2022-07-27 Listed $325,000 BCAR
• 2021-09-23 Sold (MLS) $241,250 BCAR
• 2020-11-04 Listed $239,900 BCAR

Property tax history

+22.3%/yr

Latest (2025): $1,038 · +5.4% YoY. Source: county tax records.