2076 Mountain View Dr

Carlisle-Rockledge, AL 35954

$74,000C

3 bd · 2.0 ba · 1,450 sqft · Built 2013 · Manufactured · Active · 39 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,083/mo
• Mortgage (P&I): −$388
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $344/mo
• Annual: $4,128/yr
• Cap rate: 11.87%
• Cash-on-cash: 19.92%
• DSCR: 1.89
• 1% rule: 1.46%
• Cash to close: $20,720

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $74k. Condition is rated fair.
• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• It's been on market 39 days — a 3% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $512 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Etowah County (suburban): math 21% / reading 52% proficiency, ranked #36 of 129 in AL (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Carlisle Elementary School (math 17% / reading 52%, grade F, #296 of 627 statewide, top 49%, 354 students, 77% FRL); Sardis High School (math 12% / reading 12%, grade F, #242 of 305 statewide, top 80%, 584 students, 63% FRL) — zoned schools average 70% FRL vs 41% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 36% district-wide (-13 pts) — the specific schools serving this property underperform the Etowah County average; the district grade overstates school quality for this exact location.
• Market conditions: 66 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Current owner paid $55k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed subfloor — Needs complete flooring and subfloor replacement
• Major: Exposed subfloor — Needs complete flooring and subfloor replacement