2902 E 15th Ave · Sheffield, AL 35660

$60,000

2 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 38 Days on market

Built 1960 6,534 sqft lot $51/sqft · 53% below area

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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 +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

2 BR 1 BATH BRICK COTTAGE IN CITY OF SHEFFIELD. CONVENIENT LOCATION! CHAINLINK FENCED BACK YARD. SOME NEW WINDOWS. NEW PEDESTAL SINK IN BATHROOM. NEW LINOLEUM IN KITCHEN. COVERED DETACHED CARPORT. SOLD AS-IS.

Key facts

• New linoleum
• New pedestal sink
• Brick cottage

Tags

• BRICK COTTAGE
• CHAINLINK FENCED BACK YARD
• NEW WINDOWS
• NEW PEDESTAL SINK
• NEW LINOLEUM
• COVERED DETACHED CARPORT

Property features AI

Exterior

• Parking: Carport (1 space)
• Utilities: Public sewer
• Home design: Single-family residential; One story; Residential property
• Construction: Brick construction
• Exterior features: Covered front porch; Chain-link fencing; Back yard; Level lot

Interior

• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wood stove supplemental heating; Ceiling fans; Electric cooling
• Interior features: Wood-burning stove fireplace (1); Crawl space basement
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 5.1% in Sheffield — 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 60/100 on livability (#312 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Sheffield City (suburban): math 12% / reading 34% proficiency, ranked #103 of 129 in AL (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 115 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 91 units permitted in Colbert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Colbert County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y ago; this cycle's ask has dropped $20k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1960 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.69% ✓
• Cap rate: 14.76%
• Cash-on-cash: 30.24%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (median comp): $128,768
• List price: $60,000
• Delta: -53.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3205 Hatch Blvd	0.31mi	2/1.0	1,172 (+0%)	2mo	$165,000	$141	84
1311 E 30th St	0.10mi	2/1.0	1,086 (-7%)	4mo	$130,000	$120	80
1403 E 34th St	0.42mi	2/1.0	1,197 (+2%)	2mo	$147,400	$123	75
1406 Parsons St	0.37mi	3/1.0 (+1)	1,175 (+0%)	7mo	$149,900	$128	71
1510 E 29th St	0.09mi	3/1.0 (+1)	1,279 (+9%)	5mo	$128,400	$100	71
3303 E 13th Ave	0.39mi	2/2.0	1,205 (+3%)	5mo	$134,500	$112	69
1208 Cedar Cir	0.45mi	2/1.0	1,100 (-6%)	2mo	$135,000	$123	67
2910 E 13th Ave	0.18mi	3/1.0 (+1)	1,054 (-10%)	5mo	$115,000	$109	66
3301 Hatch Blvd	0.37mi	3/1.0 (+1)	1,224 (+5%)	6mo	$132,000	$108	65
1305 E 34th St	0.42mi	3/1.5 (+1)	1,242 (+6%)	1mo	$155,000	$125	62
1505 Pinehurst Blvd	0.61mi	3/1.0 (+1)	1,238 (+6%)	1mo	$159,000	$128	56
1305 Gordon Dr	0.62mi	3/2.0 (+1)	1,212 (+4%)	1mo	$80,000	$66	55

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: 24.9%
• Equity multiple: 2.03×
• Total profit: $17,233
• Equity at exit: $8,946

10-year hold

• IRR: 32.6%
• Equity multiple: 3.96×
• Total profit: $49,691
• Equity at exit: $5,188

Cash invested: $16,800 (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 35660

• Home prices YoY: -29.5%
• Active inventory: 115
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,012 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$36 /mo · $436/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $423

Break-even live

Break-even rent $476

Max offer price $60,000

Occupancy floor 53%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3323 Oakwood Blvd Sheffield, AL	2.0	1.0	1100	$1,000	$0.91	44d	1	0.48mi
1010 N Nashville Ave Sheffield, AL	2.0	2.0	1200	$1,100	$0.92	43d	1	0.66mi
500 N Montgomery Ave Sheffield, AL	2.0	1.0–2.0	483	$1,000	$2.07	43d	10	0.72mi
100 Brink Ct Sheffield, AL	2.0	2.0	1100	$899	$0.82	43d	5	0.99mi

Listing history 28 events

1. 2026-06-19
   days on market $60,000 Active 38 DOM
2. 2026-06-18
   days on market $60,000 Active 37 DOM
3. 2026-06-17
   days on market $60,000 Active 36 DOM
4. 2026-06-16
   days on market $60,000 Active 35 DOM
5. 2026-06-15
   days on market $60,000 Active 34 DOM
6. 2026-06-14
   days on market $60,000 Active 32 DOM
7. 2026-06-13
   days on market $60,000 Active 31 DOM
8. 2026-06-10
   days on market $60,000 Active 29 DOM
9. 2026-06-09
   days on market $60,000 Active 28 DOM
10. 2026-06-09
    price $60,000 Active 27 DOM
11. 2026-06-08
    days on market $79,900 Active 27 DOM
12. 2026-06-07
    days on market $79,900 Active 26 DOM
13. 2026-06-05
    days on market $79,900 Active 23 DOM
14. 2026-06-02
    days on market $79,900 Active 21 DOM
15. 2026-06-01
    days on market $79,900 Active 20 DOM
16. 2026-05-31
    days on market $79,900 Active 19 DOM
17. 2026-05-30
    days on market $79,900 Active 18 DOM
18. 2026-05-08
    listed $79,900 Active 208-char remark
19. 2022-10-27
    soldstatus $46,500
20. 2015-11-04
    soldstatus $65,313
21. 2015-10-30
    soldstatus $64,900
22. 2015-08-19
    listed $64,900
23. 2014-07-02
    soldstatus $49,900
24. 2014-05-17
    listed $58,000
25. 2012-08-22
    listed $55,000
26. 2009-12-04
    listed $69,900
27. 2007-03-07
    listed $49,900
28. 2003-05-07
    listed $53,500

ⓘ 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: $436 · $36/mo
• Projected year-2 tax: $436 · $36/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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,142
• − Mortgage interest: −$3,361
• − Property taxes: −$436
• − Insurance: −$300
• − Repairs & maintenance: −$971
• − Management: −$971
• − Depreciation: −$1,745
• Taxable income: $4,357
• Est. tax owed @ 24.0%: −$1,046
• After-tax cash flow: $4,035/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: Sheffield City
• NCES district ID: 0103000
• Math proficiency: 12% ▼ -30.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $34,188
• Composite: 18.8/100
• National rank: #8866
• State rank: #103 of 129 in AL

Livability — Sheffield

• Score: 60/100
• State rank: #312
• US rank: #19366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sheffield, AL
• City population: 9,385
• Population (ZIP): 9,385

Population outlook (Colbert County) Hauer SSP2

• Today (2025): 54,154 people
• By 2030: 53,746 · -0.8%
• By 2040: 52,431 · -3.2%
• By 2050: 50,303 · -7.1%
• By 2075: 44,789 · -17.3%
• By 2100: 36,676 · -32.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 26% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Colbert

• 2024 margin: Solid R (+46.4) · D 26.4% · R 72.8%
• 2008→2024 swing: -26.2pp toward R · 2008: -20.3pp · 2024: -46.4pp
• All cycles: 2024: R+46.4 2020: R+38.9 2016: R+38.3 2012: R+20.4 2008: R+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.23%
• Current HPI: 177.3226
• 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

+12.1% since first listed

12 events — show timeline

• 2026-06-08 Price Changed $60,000 SAARMLS
• 2026-05-08 Listed $79,900 SAARMLS
• 2022-10-27 Sold (MLS) $46,500 SAARMLS
• 2015-11-04 Sold (Public Records) $65,313 Public Records
• 2015-10-30 Sold (MLS) $64,900 SAARMLS
• 2015-08-19 Listed $64,900 SAARMLS
• 2014-07-02 Sold (MLS) $49,900 SAARMLS
• 2014-05-17 Listed $58,000 SAARMLS
• 2012-08-22 Listed $55,000 SAARMLS
• 2009-12-04 Listed $69,900 SAARMLS
• 2007-03-07 Listed $49,900 SAARMLS
• 2003-05-07 Listed $53,500 SAARMLS

Property tax history

+5.5%/yr

Latest (2025): $436 · +7.6% YoY. Source: county tax records.