Peacock V G Plan

Harvest, AL 35773

$258,990F

3 bd · 2.0 ba · 1,495 sqft · Built — · SingleFamily · Active · 956 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,575/mo
• Mortgage (P&I): −$1,553
• Tax + insurance: −$494
• HOA: −$0
• Vac / Maint / Mgmt: −$331
• Net cashflow: $-803/mo
• Annual: $-9,632/yr
• Cap rate: 3.04%
• Cash-on-cash: -11.61%
• DSCR: 0.48
• 1% rule: 0.53%
• Cash to close: $82,933

Investor read

• This is a 3-bed/2.0-bath single-family listed at $259k.
• At list price, monthly cash flow is $-803 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (30.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (39.2% below list).
• It's been on market 956 days — a 12% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (39.2% below list) — sets the bar for 1% rule.
• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Location reads 72/100 on livability (#27 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Limestone County (rural): math 21% / reading 44% proficiency, ranked #52 of 129 in AL (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Johnson Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 363 students, 51% FRL).
• Zoned-school proficiency averages 47% at this address vs 32% district-wide (+14 pts) — the actual schools serving this property are materially stronger than the Limestone County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 326 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$51k 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 956 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.