115 N Forty Rd · Our Town, AL 35010

$125,000

3 bd · 2.0 ba · 1,904 sqft · Manufactured public records · 151 Days on market

Built 2000 0.45 ac lot ↓ 17% since listing

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Why this score? — see what drove the C- 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 +22.4/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +4.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 115 North Forty Road in Alexander City! This well-maintained home offers comfortable living in a convenient location close to schools, shopping, dining, and Lake Martin amenities. Featuring spacious living areas, a functional layout, and plenty of natural light, this property is perfect for everyday living or entertaining. Enjoy the peaceful setting while still being just minutes from town. Whether you're a first-time buyer, downsizing, or looking for a great investment opportunity, this home is a must-see. Schedule your showing today!

Key facts

• 0.45 acre lot
• Garage
• Built 2000

Property features AI

Exterior

• Parking: Attached garage
• Utilities: Public sewer; Cable available
• Home design: Manufactured home; Mobile home
• Construction: Metal roof; Vinyl siding
• Exterior features: Fenced lot; On waterfront (Lake Martin); Wooded lot

Interior

• Flooring: Wood flooring; Tile flooring; Laminate flooring
• Heating & cooling: Central electric heating; Central electric air conditioning
• Interior features: Wood-burning fireplace; Wood, tile and laminate flooring; 9 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $208 ($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 $121k (3.0% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#392 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment B+; Watch: crime D+, schools F, amenities F.
• Alexander City (town): math 18% / reading 39% proficiency, ranked #77 of 129 in AL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 205 active listings in the ZIP; 218 units permitted in Tallapoosa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tallapoosa County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; 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.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.6

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-7,066
• Equity at exit: $18,638

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $10,686
• Equity at exit: $10,808

Cash invested: $35,000 (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 35010

• Home prices YoY: -22.3%
• Active inventory: 205
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$42 /mo · $503/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $208

Break-even live

Break-even rent $949

Max offer price $125,000

Occupancy floor 78%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $125,000 Active 151 DOM
2. 2026-06-18
   days on market $125,000 Active 150 DOM
3. 2026-06-17
   days on market $125,000 Active 149 DOM
4. 2026-06-16
   days on market $125,000 Active 148 DOM
5. 2026-06-15
   days on market $125,000 Active 147 DOM
6. 2026-06-14
   days on market $125,000 Active 145 DOM
7. 2026-06-12
   days on market $125,000 Active 144 DOM
8. 2026-06-09
   days on market $125,000 Active 141 DOM
9. 2026-06-08
   days on market $125,000 Active 140 DOM
10. 2026-06-07
    days on market $125,000 Active 139 DOM
11. 2026-06-07
    days on market $125,000 Active 138 DOM
12. 2026-06-04
    days on market $125,000 Active 135 DOM
13. 2026-06-02
    days on market $125,000 Active 134 DOM
14. 2026-06-01
    days on market $125,000 Active 133 DOM
15. 2026-05-31
    days on market $125,000 Active 132 DOM
16. 2026-05-31
    days on market $125,000 Active 131 DOM
17. 2026-03-14
    price $125,000
18. 2026-01-19
    listed $135,000 Active
19. 2025-09-18
    price $145,000
20. 2025-04-22
    listed $150,000 Active

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

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $503 · $42/mo
• Projected year-2 tax: $512 · $43/mo
• Expected delta: +$9/yr (+$1/mo · 1.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $14,544
• − Mortgage interest: −$7,002
• − Property taxes: −$503
• − Insurance: −$625
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$3,636
• Taxable income: $450
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $2,387/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.

Schools (NCES district)

• District: Alexander City
• NCES district ID: 0100030
• Math proficiency: 18% ▼ -25.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $35,482
• Composite: 23.49/100
• National rank: #7871
• State rank: #77 of 129 in AL

Livability — Our Town

• Score: 57/100
• State rank: #392
• US rank: #22095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Our Town, AL
• Population (ZIP): 19,619

Population outlook (Tallapoosa County) Hauer SSP2

• Today (2025): 38,909 people
• By 2030: 37,413 · -3.8%
• By 2040: 33,935 · -12.8%
• By 2050: 30,467 · -21.7%
• By 2075: 22,716 · -41.6%
• By 2100: 15,167 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 29% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 3% Korean 1% German/W. Germanic 1%

Political lean MEDSL · Tallapoosa

• 2024 margin: Solid R (+49.6) · D 24.9% · R 74.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -36.5pp · 2024: -49.6pp
• All cycles: 2024: R+49.6 2020: R+43.4 2016: R+41.6 2012: R+32.4 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -48.88%
• Current HPI: 170.2791
• 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

-16.7% since first listed

4 events — show timeline

• 2026-03-14 Price Changed $125,000 LMMLS
• 2026-01-19 Listed $135,000 LMMLS
• 2025-09-18 Price Changed $145,000 LMMLS
• 2025-04-22 Listed $150,000 LMMLS

Property tax history

-1.1%/yr

Latest (2025): $503 · -3.1% YoY. Source: county tax records.