628 Wenonah Way

Warrior, AL 35091

$272,900D-

4 bd · 2.0 ba · 1,497 sqft · Built 2026 · SingleFamily · Active · 113 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,942/mo
• Mortgage (P&I): −$1,431
• Tax + insurance: −$455
• HOA: −$74
• Vac / Maint / Mgmt: −$408
• Net cashflow: $-426/mo
• Annual: $-5,107/yr
• Cap rate: 4.42%
• Cash-on-cash: -6.68%
• DSCR: 0.70
• 1% rule: 0.71%
• Cash to close: $76,412

Investor read

• This is a 4-bed/2.0-bath single-family listed at $273k.
• At list price, monthly cash flow is $-426 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $211k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (28.8% below list).
• It's been on market 113 days — a 9% lower offer ($248k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $194k (28.8% below list) — sets the bar for 1% rule.
• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• Location reads 58/100 on livability (#360 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D+, crime D, amenities F.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts; this cycle's ask has dropped $14k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 113 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 D 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?