501 Spanish Main · Spanish Fort, AL 36527

$300,000

4 bd · 2.0 ba · 1,990 sqft · SingleFamily public records · 6 Days on market

Built 1965 0.47 ac lot Est $320k · 6% under

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Why this score? — see what drove the D 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 +12.1/30.0
• ARV discount +10.4/15.0
• Rent growth +4.1/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Renovation on a Large Corner Lot in Spanish Fort Estates. This home has 4 bedrooms and 2 full baths in a very functional multi level floor plan. Kitchen and living room combo with new appliances, Gas cook-top, and granite countertops with breakfast bar. Living room area has beautiful wood floors, tall ceilings, tons of natural light and a wood burning fireplace. There is a large bonus room or sunken den off the living room that is a great space for a more informal living area or playroom. Master suite is oversized with a wood burning fireplace and has 2 walk-in closets. Three large bedrooms upstairs share a bathroom at the end of the hall. The back porch space is great for entertaining and can be accessed through the den or living room. A stone hardscape wall has been recently installed to outline the porch and backyard. Yard has great landscaping with a freshly sodded area and a really cool new stone paver path around the perimeter of the home. There has also been a large concrete parking area added for overflow parking. The roof, Air conditioner and water heater are just a couple years old. This home is in great shape and in an area that is experiencing a large amount of growth! Come see it before it is too late!

Key facts

• 0.47 acre lot
• Parking
• Built 1965

Property features AI

Finance

• HOA & community: No HOA transfer fees; No community features listed

Exterior

• Parking: Single carport (1 covered space)
• Utilities: Spanish Fort Water; Public sewer; Daphne, Fairhope and Riviera utilities available; Cable connected
• Home design: One-and-one-half story; Resale property
• Construction: Brick and wood siding exterior; Slab foundation; Composition roof with Fortified roof features; Built area: 2,051 square feet (assessor)
• Exterior features: Fenced yard; Patio; Front porch; Rear porch; Termite contract

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Gas range; Refrigerator; Electric water heater
• Bedrooms: Master bedroom on lower level
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating
• Interior features: Ceiling fans; Internet access; Den fireplace (1 total)
• Laundry & utility: Washer and dryer included; Laundry on lower level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-66 ($-787/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (27.9% below list).
• Recommended offer: $216k (27.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.5% in Spanish Fort — 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 73/100 on livability (#26 in AL) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• Baldwin County (rural): math 33% / reading 57% proficiency, ranked #18 of 129 in AL (top 14%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Spanish Fort Elementary School (math 61% / reading 79%, grade A-, #26 of 627 statewide, top 4%, 763 students, 31% FRL); Spanish Fort Middle School (math 38% / reading 70%, grade B-, #20 of 257 statewide, top 8%, 622 students, 28% FRL); Spanish Fort High School (math 44% / reading 44%, grade F, #25 of 305 statewide, top 8%, 1,188 students, 24% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 331 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 3,883 units permitted in Baldwin County in 2024 (481 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago; this cycle's ask is 50% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $193k; list at $300k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,210 (27.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1965 — 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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.72% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 11.6

CMA / ARV

• ARV (on-the-fly): $320,390
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 General Maury Dr	0.13mi	3/2.5 (-1)	2,056 (+3%)	6mo	$365,000	$178	77
45 Caisson Trce	0.21mi	3/3.5 (-1)	2,004 (+1%)	7mo	$230,000	$115	72
4 Rally Rd	0.30mi	3/2.0 (-1)	1,903 (-4%)	4mo	$280,000	$147	70
208 Confederate Dr	0.25mi	3/2.0 (-1)	1,831 (-8%)	1mo	$240,000	$131	70
212 Confederate Dr N	0.21mi	3/2.0 (-1)	1,831 (-8%)	8mo	$295,000	$161	65
74 Caisson Trce	0.47mi	3/2.0 (-1)	1,919 (-4%)	5mo	$276,500	$144	63
201 Confederate Dr	0.31mi	3/2.0 (-1)	2,185 (+10%)	5mo	$377,000	$173	60
18 Lee Cir	0.40mi	3/2.0 (-1)	2,169 (+9%)	3mo	$265,500	$122	59
10 SOLDIERS Rte	0.50mi	3/2.0 (-1)	1,852 (-7%)	6mo	$325,000	$175	56
71 Caisson Trce	0.45mi	3/2.0 (-1)	1,704 (-14%)	0mo	$365,000	$214	50
635 Southern Way	0.56mi	4/2.0	2,280 (+15%)	4mo	$430,000	$189	46
6 Pirates Ln	0.54mi	3/2.0 (-1)	2,250 (+13%)	10mo	$320,000	$142	40

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 · 6.52% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.46×
• Total profit: $-45,012
• Equity at exit: $44,731

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-10,212
• Equity at exit: $25,939

Cash invested: $84,000 (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 36527

• Home prices YoY: -14.4%
• Rents YoY: 6.5%
• Active inventory: 331
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,162 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$75 /mo · $905/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $-66

Break-even live

Break-even rent $2,245

Max offer price $288,418

Occupancy floor 98%

Sensitivity live

Price	-10% $104	-5% $19	+0% $-66	+5% $-150	+10% $-235
Rent	-10% $-236	-5% $-151	+0% $-66	+5% $20	+10% $105
Rate	-1.0pp $86	-0.5pp $11	base $-66	+0.5pp $-143	+1.0pp $-222

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Spanish Main Spanish Fort, AL	3.0	2.0	1672	$1,900	$1.14	21d	1	0.34mi
6677 Spaniel Dr Spanish Fort, AL	3.0	2.5	1500	$1,995	$1.33	14d	1	0.47mi

Listing history 10 events

1. 2026-06-19
   days on market $300,000 Active 6 DOM
2. 2026-06-18
   days on market $300,000 Active 5 DOM
3. 2026-06-17
   days on market $300,000 Active 4 DOM
4. 2026-06-16
   days on market $300,000 Active 3 DOM
5. 2026-06-15
   days on market $300,000 Active 2 DOM
6. 2026-06-14
   statusdays on market $300,000 Active 1 DOM
7. 2026-06-13
   days on market $300,000 Coming Soon 4 DOM
8. 2026-06-10
   days on market $300,000 Coming Soon 2 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $300,000 Coming Soon 1 DOM

ⓘ 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: $905 · $75/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$325/yr (+$27/mo · 36.0%)

ⓘ 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 9/10 Extreme 7 d/yr ≥107°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,945
• − Mortgage interest: −$16,805
• − Property taxes: −$905
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,076
• − Management: −$2,076
• − Depreciation: −$8,727
• Taxable loss: −$6,143
• Est. tax savings @ 24.0%: +$1,474
• After-tax cash flow: $687/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: Baldwin County
• NCES district ID: 0100270
• Math proficiency: 33% ▼ -26.00%
• Reading proficiency: 57% ▲ 1.00%
• Median HH income: $50,677
• Composite: 38.61/100
• National rank: #4157
• State rank: #18 of 129 in AL

Livability — Spanish Fort

• Score: 73/100
• State rank: #26
• US rank: #5408

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spanish Fort, AL
• County: Baldwin County · 181,514 people
• City population: 21,765
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 21,765
• Household income: $120,189
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 378.0

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 (80%)
• Race & ethnicity: White 80% Two or more races 8% Black 6% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica, South Korea
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -39.56%
• Current HPI: 234.5113
• Rent YoY: ▲ 6.52%
• 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

+903.3% since first listed

10 events — show timeline

• 2026-06-09 Coming Soon $300,000 BCAR
• 2020-07-31 Sold (Public Records) $193,000 Public Records
• 2020-07-30 Sold (MLS) $193,000 GCMLS AL
• 2020-07-30 Sold (MLS) $193,000 BCAR
• 2020-06-25 Listed $199,900 BCAR
• 2017-01-24 Sold (Public Records) $148,100 Public Records
• 2017-01-20 Sold (MLS) $148,000 BCAR
• 2016-08-25 Listed $179,000 BCAR
• 2015-07-29 Sold (MLS) $36,000 BCAR
• 2015-06-17 Listed $29,900 BCAR

Property tax history

+12.4%/yr

Latest (2025): $905 · +13.9% YoY. Source: county tax records.