210 Stevenson Dr

Greensboro, AL 36744

$79,900A-

3 bd · 2.0 ba · 2,240 sqft · Built 1970 · SingleFamily · Pending · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,286/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$270
• Net cashflow: $464/mo
• Annual: $5,567/yr
• Cap rate: 13.26%
• Cash-on-cash: 24.88%
• DSCR: 2.11
• 1% rule: 1.61%
• Cash to close: $22,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated fair.
• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 135 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($552 loan paydown + $6k appreciation (7.2% local appreciation)).
• Location reads 66/100 on livability (#106 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Hale County (rural): math 6% / reading 31% proficiency, ranked #109 of 129 in AL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Greensboro Elementary School (math 4% / reading 31%, grade F, #484 of 627 statewide, top 77%, 554 students, 78% FRL); Greensboro Middle School (math 2% / reading 17%, grade F, #227 of 257 statewide, top 90%, 232 students, 88% FRL); Hale County High School (math 12% / reading 17%, grade F, #220 of 305 statewide, top 77%, 379 students, 59% FRL).
• Market conditions: 36 active listings in the ZIP; 11 units permitted in Hale County in 2024 (0 in 5+ unit buildings).
• Hale County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 13y 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 $20k; list at $80k implies a 300% gain — meaningful room to come down on a strong offer.
• At projected returns (7.2% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1970 — 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 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.

Repairs flagged (vision-AI assessment)

• Major: Kitchen cabinets — Severe wear and tear, likely unsafe and in need of replacement
• Major: Bathroom fixtures — Worn and outdated, likely in need of replacement
• Major: Roof — Signs of wear and tear, possibly needing replacement
• Major: Exterior painting — Needs repainting to improve curb appeal
• Major: Flooring — Worn and in need of replacement
• Major: Interior paint — Worn and in need of repainting