303 Baltimore Ave

Albertville, AL 35950

$176,700C-

3 bd · 2.0 ba · 1,803 sqft · Built 1947 · SingleFamily · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,475/mo
• Mortgage (P&I): −$927
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$310
• Net cashflow: $134/mo
• Annual: $1,604/yr
• Cap rate: 7.20%
• Cash-on-cash: 3.24%
• DSCR: 1.14
• 1% rule: 0.83%
• Cash to close: $49,476

Investor read

• This is a 3-bed/2.0-bath single-family listed at $177k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (16.5% below list).
• It's been on market 64 days — a 6% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (16.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#141 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Albertville City (town): math 17% / reading 39% proficiency, ranked #79 of 129 in AL (top 61%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Albertville Primary School (944 students, 82% FRL); Albertville Middle School (math 11% / reading 42%, grade F, #150 of 257 statewide, top 60%, 890 students, 78% FRL); Albertville High School (math 19% / reading 22%, grade F, #159 of 305 statewide, top 53%, 1,712 students, 73% FRL) — zoned schools average 78% FRL vs 59% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 112 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 163 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 2.6% in Albertville — 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.

Questions for listing agent

• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Built in 1947 — 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?
• 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.