Real Estate Investing in Cleveland, Alabama (35049)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 35049 (Cleveland, AL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Cleveland, AL (35049)?
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Market Analysis: 35049 Cleveland
Not every below-median market is a bargain. Cleveland's 35049 ZIP reports signals that favor experienced operators who can absorb the risk $230K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $230K asset, 35049 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader AL picture, 35049 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
The demographic picture in 35049 includes headwinds that any investor should price in. Income distribution skews lower than Cleveland averages, and tenant stability requires active management.
The 35049 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Cleveland:
Market Trends
Home Value History (with trend line)
📊 How Does 35049 Compare?
| Metric | 35049 | Cleveland | Alabama |
|---|---|---|---|
| Home Value | $229,560 | $229,560 | $231,003 |
| 5-Year CAGR | 2.9% | 2.9% | 5.6% |
| Avg Rent | $918 | $918 | - |
| Cap Rate | 3.1% | 3.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 35049 (Cleveland, AL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $229,560 |
| Monthly Rent | $918 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 35049
Population: 4,334
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 35049
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,108 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Cleveland, AL?
Yes - Cleveland, AL a 3.0/5 investability score. With $230K home prices against $918/mo monthly rent, the market delivers a reasonable entry point for new investors.
Are there empty rentals in Cleveland, AL?
Cleveland, AL sees elevated vacancy, which is reasonable relative to the broader AL rental market.
What is the typical rental rate in Cleveland, AL?
The typical rental in Cleveland, AL commands about $918/mo monthly. That rent profile even-keeled cash flow against the $230K purchase basis.
Is house hacking profitable in Cleveland, AL?
House hacking works a challenging in Cleveland, AL. Rents of $918/mo against $230K acquisition make the strategy solid for owner-occupants.
Does Cleveland, AL favor landlords or tenants?
Rental owners in Cleveland, AL deal with a landlord-friendly legal framework. Most standard eviction processes run on reasonable timelines.
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