556 Middle St · Fairhope, AL 36532

$319,000

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 8 Days on market

Built 2015 $311/sqft · 10% below area Est $354k · 10% 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 +18.3/30.0
• ARV discount +12.0/15.0
• DSCR +5.7/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm and convenience of this quaint, well-maintained cottage-style home, located just a half-mile from the vibrant heart of downtown Fairhope. This delightful property invites you to enjoy the best of downtown living, with access to art galleries, a wide variety of shops, dining establishments, and exciting events such as Mardi Gras and the Annual Arts & Crafts Festival. Benefit from modern updates like new windows and new glass sliding door installed in 2024, which enhance both efficiency and aesthetics. The spacious layout offers 2 bedrooms and 1 bathroom, complemented by an open floor plan that seamlessly integrates the living room and kitchen. A versatile space off t

Key facts

• Open floor plan
• Laundry mudroom
• Brick home

Tags

• BRICK HOME
• RUSTIC COTTAGE CHARACTER
• OPEN FLOOR PLAN
• LAUNDRY MUDROOM
• NEW WINDOWS
• SLIDING DOOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $319k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (14.3% below list).
• Recommended offer: $273k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 2.8% in Fairhope — 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 76/100 on livability (#15 in AL, #3,577 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• 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.
• Market conditions: Rents rising (+3.0%/yr); 633 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 37% of the median local income ($90k/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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y 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.
• Current owner paid $197k; list at $319k implies a 62% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $273,438 (14.3% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.93%
• DSCR: 1.17
• GRM: 9.7

CMA / ARV

• ARV (median comp): $354,445
• List price: $319,000
• Delta: -7.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
365 Young St	0.24mi	3/1.5	1,040 (+2%)	12mo	$108,000	$104	74
365 Young St	0.26mi	3/1.5	1,040 (+2%)	12mo	$108,000	$104	74
611 Fairland Ave	0.06mi	2/1.0 (-1)	928 (-10%)	6mo	$290,000	$313	72
503 Horton Ln	0.56mi	2/1.0 (-1)	1,008 (-2%)	0mo	$465,000	$461	66
417 White Ave	0.33mi	2/1.0 (-1)	1,102 (+8%)	3mo	$398,000	$361	65
483 Dogwood Ave	0.13mi	3/2.0	1,109 (+8%)	15mo	$487,500	$440	64
306 Liberty St	0.64mi	2/2.0 (-1)	1,056 (+3%)	20mo	$515,000	$488	39

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.33×
• Total profit: $-60,280
• Equity at exit: $47,564

10-year hold

• IRR: -12.0%
• Equity multiple: 0.29×
• Total profit: $-63,667
• Equity at exit: $27,581

Cash invested: $89,320 (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 36532

• Rents YoY: 3.0%
• Active inventory: 633
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,734 high
• Mortgage (P&I): −$1,673
• Tax from tax record: −$62 /mo · $744/yr
• Insurance: −$133
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$574
• Net cashflow: $-134

Break-even live

Break-even rent $2,904

Max offer price $295,294

Occupancy floor 100%

Sensitivity live

Price	-10% $46	-5% $-44	+0% $-134	+5% $-224	+10% $-315
Rent	-10% $-350	-5% $-242	+0% $-134	+5% $-26	+10% $82
Rate	-1.0pp $26	-0.5pp $-53	base $-134	+0.5pp $-217	+1.0pp $-301

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: $79,750
• Closing costs: $9,570
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
571 Dogwood Ave Fairhope, AL	2.0	2.0	1462	$3,000	$2.05	44d	1	0.07mi
357 Azalea St Fairhope, AL	2.0	2.0	1065	$3,500	$3.29	44d	1	0.24mi
7 Twin Echo Ct Unit A Fairhope, AL	3.0	2.0	1354	$1,950	$1.44	44d	1	0.69mi
199 Spring Run Dr Fairhope, AL	1.0–3.0	1.0–1.5	864	$1,399	$1.62	14d	1	0.88mi
207 S Mobile St #114 Fairhope, AL	2.0	1.0	879	$1,650	$1.88	14d	1	0.98mi
416 Belle Chase Ct S Fairhope, AL	3.0	2.0	1377	$2,300	$1.67	44d	1	1.06mi
405 Belle Chase Ct S Fairhope, AL	3.0	2.0	1470	$1,900	$1.29	14d	1	1.09mi
706 Crystal Wells Ct N Fairhope, AL	3.0	2.0	1256	$1,950	$1.55	14d	1	1.19mi

Listing history 30 events

1. 2026-06-21
   days on market $319,000 Active 8 DOM
2. 2026-06-19
   days on market $319,000 Active 6 DOM
3. 2026-06-18
   days on market $319,000 Active 5 DOM
4. 2026-06-17
   days on market $319,000 Active 4 DOM
5. 2026-06-16
   days on market $319,000 Active 3 DOM
6. 2026-06-15
   days on market $319,000 Active 2 DOM
7. 2026-06-14
   pricedays on marketlisting id $319,000 Active 1 DOM
8. 2026-04-27
   price $329,000 1361-char remark
9. 2026-04-27
   price $329,000 1363-char remark
10. 2026-03-02
    price $339,000 1361-char remark
11. 2026-03-02
    price $339,000 1363-char remark
12. 2026-01-17
    status Active 1361-char remark
13. 2026-01-17
    status Active 1363-char remark
14. 2026-01-02
    historical 1361-char remark
15. 2026-01-02
    status Active 1361-char remark
16. 2025-12-23
    historical 1361-char remark
17. 2025-10-29
    price $345,000 1361-char remark
18. 2025-10-29
    price $345,000 1363-char remark
19. 2025-09-25
    listed $349,500 Active 1361-char remark
20. 2025-09-25
    listed $349,500 Active 1363-char remark
21. 2019-10-24
    soldstatus $196,800
22. 2019-10-18
    soldstatus $196,800
23. 2019-05-06
    listed $198,900
24. 2017-05-19
    soldstatus $112,000
25. 2017-03-31
    listed $114,900
26. 2016-07-07
    listed $114,900
27. 2016-05-17
    soldstatus $65,000
28. 2016-04-22
    soldstatus $65,000
29. 2016-03-18
    listed $78,200
30. 2003-04-02
    soldstatus $42,000

ⓘ 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: $744 · $62/mo
• Projected year-2 tax: $1,308 · $109/mo
• Expected delta: +$564/yr (+$47/mo · 75.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,813
• − Mortgage interest: −$17,869
• − Property taxes: −$744
• − Insurance: −$6,714
• − Repairs & maintenance: −$2,625
• − Management: −$2,625
• − Depreciation: −$9,280
• Taxable loss: −$7,044
• Est. tax savings @ 24.0%: +$1,691
• After-tax cash flow: $80/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 — Fairhope

• Score: 76/100
• State rank: #15
• US rank: #3577

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairhope, AL
• County: Baldwin County · 181,514 people
• City population: 38,108
• Metro: Daphne-Fairhope-Foley, AL
• Population (ZIP): 38,108
• Household income: $89,694
• Rent vs Own: 17.5% rent · 82.5% own
• Severe rent burden: 665.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Black 4% Two or more races 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Serbian 4% Slovak 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 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: ▼ -175.08%
• Current HPI: 299.6643
• Rent YoY: ▲ 2.95%
• 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

+659.5% since first listed

19 events — show timeline

• 2026-06-14 Listed $319,000 FSBO.com
• 2026-04-27 Price Changed $329,000 GCMLS AL
• 2026-04-27 Price Changed $329,000 BCAR
• 2026-03-02 Price Changed $339,000 GCMLS AL
• 2026-03-02 Price Changed $339,000 BCAR
• 2026-01-17 Relisted — BCAR
• 2025-10-29 Price Changed $345,000 GCMLS AL
• 2025-10-29 Price Changed $345,000 BCAR
• 2025-09-25 Listed $349,500 BCAR
• 2019-10-24 Sold (Public Records) $196,800 Public Records
• 2019-10-18 Sold (MLS) $196,800 BCAR
• 2019-05-06 Listed $198,900 BCAR
• 2017-05-19 Sold (MLS) $112,000 BCAR
• 2017-03-31 Listed $114,900 BCAR
• 2016-07-07 Listed $114,900 BCAR
• 2016-05-17 Sold (Public Records) $65,000 Public Records
• 2016-04-22 Sold (MLS) $65,000 BCAR
• 2016-03-18 Listed $78,200 BCAR
• 2003-04-02 Sold (Public Records) $42,000 Public Records

Property tax history

+12.8%/yr

Latest (2025): $744 · +15.9% YoY. Source: county tax records.