142 County Road 64

Pine Level, AL 36022

$119,500C

4 bd · 2.0 ba · 1,836 sqft · Built 2016 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,401/mo
• Mortgage (P&I): −$627
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $281/mo
• Annual: $3,373/yr
• Cap rate: 9.12%
• Cash-on-cash: 10.08%
• DSCR: 1.45
• 1% rule: 1.17%
• Cash to close: $33,460

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $120k.
• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#246 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Autauga County (rural): math 23% / reading 50% proficiency, ranked #34 of 129 in AL (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pine Level Elementary School (math 34% / reading 53%, grade F, #202 of 627 statewide, top 32%, 972 students, 55% FRL); Marbury Middle School (math 9% / reading 42%, grade F, #158 of 257 statewide, top 63%, 456 students, 56% FRL); Marbury High School (math 22% / reading 27%, grade F, #118 of 305 statewide, top 45%, 559 students, 55% FRL) — zoned schools average 55% FRL vs 39% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 146 active listings in the ZIP; 221 units permitted in Autauga County in 2024 (0 in 5+ unit buildings).
• Autauga County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts since 12y 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 $74k; list at $120k implies a 61% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.1% vs local median 2.8% in Pine Level — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.