1062 Hovater Mill Rd · Russellville, AL 35653

$35,500

3 bd · 1.0 ba · 1,008 sqft · SingleFamily · 17 Days on market

Built 1960 Poor condition 2.30 ac lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your toolbox and your vision to this tranquil piece of property in Franklin County. 3 bed, 1 bath, and room for so much more. Enjoy nature as deer travel across your back yard. Buyer should verify all pertinent information.

Key facts

• 2.3 acre lot
• Built 1960
• Listed 16 days

Property features AI

Exterior

• Parking: Driveway; Off-street parking
• Utilities: Public water available; Electricity available; Septic needed
• Home design: Single-family residential property; Fixer condition
• Construction: Aluminum siding; Built area above grade: 1,008
• Exterior features: Front porch; Shingle roof; Has a view; Irregular lot with many trees; Paved county road frontage

Interior

• Bedrooms: 3 main-level bedrooms
• Flooring: Combination
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning
• Interior features: Combination flooring; No fireplace; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $36k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($915 rent vs $36k).
• Recommended offer: $35k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.4% vs local median 2.9% in Russellville — 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.

Location & tenants

• Location reads 71/100 on livability (#37 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 75 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $245 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,967 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 2.58% ✓
• Cap rate: 22.44%
• Cash-on-cash: 57.65%
• DSCR: 3.57
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.2%
• Equity multiple: 3.48×
• Total profit: $24,676
• Equity at exit: $5,293

10-year hold

• IRR: 61.2%
• Equity multiple: 7.11×
• Total profit: $60,708
• Equity at exit: $3,069

Cash invested: $9,940 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35653

• Home prices YoY: -12.4%
• Active inventory: 75
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $915 medium
• Mortgage (P&I): −$186
• Tax est. 1.5%: −$44 /mo · $532/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $478

Break-even live

Break-even rent $311

Max offer price $35,500

Occupancy floor 43%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $8,875
• Closing costs: $1,065
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $35,500 Active 17 DOM
2. 2026-06-18
   days on market $35,500 Active 16 DOM
3. 2026-06-17
   days on market $35,500 Active 15 DOM
4. 2026-06-16
   days on market $35,500 Active 14 DOM
5. 2026-06-15
   days on market $35,500 Active 13 DOM
6. 2026-06-14
   days on market $35,500 Active 11 DOM
7. 2026-06-13
   days on market $35,500 Active 10 DOM
8. 2026-06-10
   days on market $35,500 Active 8 DOM
9. 2026-06-09
   days on market $35,500 Active 7 DOM
10. 2026-06-09
    status $35,500 Active 6 DOM
11. 2026-05-20
    listed $35,500 Active
12. 2025-10-23
    status Active
13. 2025-09-26
    status Pending
14. 2025-09-22
    listed $29,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,980
• − Mortgage interest: −$1,989
• − Property taxes: −$532
• − Insurance: −$178
• − Repairs & maintenance: −$878
• − Management: −$878
• − Depreciation: −$1,033
• Taxable income: $5,492
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $4,412/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed to address the deteriorating exterior, roof, flooring, and interior walls.

Repairs flagged

• Major siding — Severe weathering
• Major roof — Exposed rafters, missing shingles
• Major flooring — Exposed subflooring
• Major interior walls — Paint peeling, exposed insulation

Value-add opportunities

• Resale new siding — Improves curb appeal and durability
• Resale new roof — Essential for structural integrity and longevity
• Resale new flooring — Enhances interior aesthetics and comfort
• Resale paint interior walls — Fresh paint improves appearance and value
• Both repair and replace HVAC — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Severe weathering	Major	$15,000–50,000
roof · Exposed rafters, missing shingles	Major	$15,000–50,000
flooring · Exposed subflooring	Major	$15,000–50,000
interior walls · Paint peeling, exposed insulation	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale new siding — Improves curb appeal and durability ↑
• Resale new roof — Essential for structural integrity and longevity ↑
• Resale new flooring — Enhances interior aesthetics and comfort ↑
• Resale paint interior walls — Fresh paint improves appearance and value ↑
• Both repair and replace HVAC — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Franklin County
• NCES district ID: 0101590
• Math proficiency: 17% ▼ -21.00%
• Reading proficiency: 36% ▼ -1.00%
• Median HH income: $37,979
• Composite: 22.08/100
• National rank: #8187
• State rank: #84 of 129 in AL

Livability — Russellville

• Score: 71/100
• State rank: #37
• US rank: #6823

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment D Housing A+ Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,005

Population outlook (Franklin County) Hauer SSP2

• Today (2025): 31,545 people
• By 2030: 31,335 · -0.7%
• By 2040: 30,983 · -1.8%
• By 2050: 30,744 · -2.5%
• By 2075: 30,173 · -4.3%
• By 2100: 29,478 · -6.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Hispanic / Latino 36% Black 8% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 17% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 32%

Political lean MEDSL · Franklin

• 2024 margin: Solid R (+73.3) · D 13.0% · R 86.2%
• 2008→2024 swing: -34.1pp toward R · 2008: -39.2pp · 2024: -73.3pp
• All cycles: 2024: R+73.3 2020: R+65.9 2016: R+60.8 2012: R+40.5 2008: R+39.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.50%
• Current HPI: 180.6128
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+18.7% since first listed

4 events — show timeline

• 2026-05-20 Listed $35,500 SAARMLS
• 2025-10-23 Relisted — SAARMLS
• 2025-09-26 Pending — SAARMLS
• 2025-09-22 Listed $29,900 SAARMLS