1645 County Road 4411

Brundidge, AL 36010

$139,900D

2 bd · 1.0 ba · 1,242 sqft · Built 1965 · SingleFamily · Pending · 258 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,030/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $-38/mo
• Annual: $-456/yr
• Cap rate: 5.97%
• Cash-on-cash: -1.16%
• DSCR: 0.95
• 1% rule: 0.74%
• Cash to close: $39,172

Investor read

• This is a 2-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $-38 ($-456/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (26.4% below list).
• It's been on market 258 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (26.4% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($967 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 53/100 on livability (#484 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D, crime F, amenities F.
• Pike County (rural): math 19% / reading 44% proficiency, ranked #68 of 129 in AL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pike County Elementary School (math 21% / reading 43%, grade F, #331 of 627 statewide, top 57%, 462 students, 84% FRL); Pike County High School (math 21% / reading 39%, grade F, #67 of 305 statewide, top 22%, 493 students, 84% FRL) — zoned schools average 84% FRL vs 67% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 42 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 258 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?