Score
0Fairhope, AL
4 Molokai Ln
2.4M
5 beds
7 baths
4,700 sqft
5 bd • 7 ba • 4,700 sf
This analysis was generated on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$2,395,000
Price/Sq.Ft
$510
Year Built
1975
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This luxurious 4,700 sqft property in Point Clear, AL offers exceptional value at $509.57/sqft, which is approximately 15% below the average luxury home price in the area ($600/sqft). The home boasts breathtaking views of Mobile Bay and is surrounded by majestic live oaks, providing a serene coastal living experience. Recent upgrades include a brand-new roof (2023), tankless water heater, and HVAC units updated within the last 5 years, collectively valued at approximately $50,000. The property features a heated pool, versatile pool house, and a 2-bedroom guest house, adding significant value and versatility. Its location offers a perfect blend of privacy and convenience, being just a short golf cart ride from downtown Fairhope and the iconic Grand Hotel. The community pier and direct bay access add to the property's appeal for water enthusiasts. With 5 bedrooms, 7 bathrooms, and 22' ceilings in the great room, the home is well-suited for large families or those who frequently entertain guests.
The Bad
The property's age (built in 1975) may require ongoing maintenance and potential updates to keep it in line with modern luxury standards. At 314 days on the market, it's significantly above the average DOM for luxury properties in Fairhope (typically 60-90 days), which could indicate pricing issues or unique challenges. The price history shows multiple reductions (from $2,750,000 to $2,395,000), suggesting initial overpricing. The estimated insurance cost of $8,622/year is considerably high, likely due to the coastal location and associated risks. The property's flood risk is rated as MAJOR (5/10), which could lead to higher insurance premiums and potential future damage costs. The extreme heat risk (10/10) and wind risk (9/10) may result in higher cooling costs and potential storm damage concerns.
The Ugly
The property's location in a high-risk area for multiple climate factors is concerning. The MAJOR flood risk (5/10) and EXTREME wind risk (9/10) could lead to substantial damage costs and potentially affect the property's long-term value. Insurance costs are likely to increase over time due to these risks. The EXTREME heat risk (10/10) with 7 hot days per year above 105°F could result in significant cooling expenses and potential comfort issues. The property's appreciation rate appears volatile, with a 163.2% increase from 2016 to 2024, followed by multiple price reductions. This instability in valuation could pose challenges for future resale or refinancing. The shared community pier may lead to potential conflicts or maintenance issues with neighbors. The age of the property (49 years) suggests that major systems and structures may need significant upgrades or replacements in the near future, beyond the recent roof and HVAC updates.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for affluent buyers with a household income of $500,000+ annually, considering the $2,395,000 price tag and high ownership costs. It's ideal for those seeking a luxury coastal lifestyle with a preference for spacious living and entertaining. The home would appeal to families or individuals who frequently host guests, given the 5 bedrooms, guest house, and ample entertaining spaces. Water enthusiasts and boating aficionados will appreciate the direct bay access and community pier. The property is well-suited for those who value privacy but still want proximity to upscale amenities like the Grand Hotel and downtown Fairhope. Buyers who can afford to self-insure or are comfortable with higher insurance premiums due to climate risks would be ideal candidates. The guest house also makes it suitable for multi-generational families or those looking for potential rental income from short-term vacation leases.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets, given its high price point and ongoing maintenance costs. Individuals seeking a low-maintenance or turnkey property may find the age and size of the home challenging. Those with mobility issues might struggle with the multi-level layout and extensive grounds. Buyers who are risk-averse or concerned about climate change impacts should be cautious due to the high flood, wind, and heat risks. The property is not ideal for investors looking for immediate high returns, as the luxury market can be less liquid and the high purchase price may limit rental yields. Families with young children might have safety concerns regarding the pool and proximity to the bay. Those seeking modern, energy-efficient homes may find the 1975 construction less appealing, despite recent updates.
Demographics
Area Median Income
$79,061
Property History
Price History
Ownership Timeline
$1,045,000Financed
Jun 10, 2016Tommy L Broadhead, Lisa Q BroadheadEdward Tonore
Warranty Deed
Standard Sale (Purchase/Resales)
$875,000Financed
Apr 22, 2015E Glen Evans, Kay C EvansTommy L Broadhead, Lisa Q Broadhead
Survivorship Deed
Standard Sale (Purchase/Resales)
$490,000Cash Purchase
Feb 8, 2013Glen EvansGlen Evans, Kay Evans
Intrafamily Transfer
Non-Arm's Length Transactions
Property Taxes
$3,204
2023 Tax Assessment
0.0%from previous year
Assessed Value$131,560
Tax Rate2.44%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
9.0/10
ExcellentHigh
9.0/10
ExcellentFinancials
Monthly Costs
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$2,395,000
Price/sqft
$510
Layout
5 bd•7 ba
Days on market
155 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$243,833
882.2%
Your price is 882.2% above average
Median Price
$285,000
740.4%
Based on 6 recent sales
Price per Sq.Ft
N/A
No price per sq.ft data available
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 0 Scenic Highway 98, Fairhope, AL 36532 | $63,000 | N/A | N/A | N/A | N/A | 12/4/2024 |
| 0 Calyx Circle, Fairhope, AL 36532 | $285,000 | N/A | N/A | N/A | N/A | 9/13/2024 |
| 0 Calyx Circle, Fairhope, AL 36532 | $285,000 | N/A | N/A | N/A | N/A | 9/13/2024 |
| 0 Calyx Circle, Fairhope, AL 36532 | $285,000 | N/A | N/A | N/A | N/A | 9/13/2024 |
| 0 Calyx Circle, Fairhope, AL 36532 | $285,000 | N/A | N/A | N/A | N/A | 9/13/2024 |
| 506 Horton Lane, Fairhope, AL 36532 | $260,000 | N/A | N/A | N/A | N/A | 9/13/2024 |
0 Scenic Highway 98, Fairhope, AL 36532
Price: $63,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 12/4/2024
0 Calyx Circle, Fairhope, AL 36532
Price: $285,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/13/2024
0 Calyx Circle, Fairhope, AL 36532
Price: $285,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/13/2024
0 Calyx Circle, Fairhope, AL 36532
Price: $285,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/13/2024
0 Calyx Circle, Fairhope, AL 36532
Price: $285,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/13/2024
506 Horton Lane, Fairhope, AL 36532
Price: $260,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 9/13/2024
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