4139 County Road 24

Billingsley, AL 36006

$219,000D-

3 bd · 2.0 ba · 1,400 sqft · Built 2025 · SingleFamily · Active · 266 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,167/mo
• Mortgage (P&I): −$1,148
• Tax + insurance: −$365
• HOA: −$0
• Vac / Maint / Mgmt: −$245
• Net cashflow: $-592/mo
• Annual: $-7,101/yr
• Cap rate: 3.05%
• Cash-on-cash: -11.58%
• DSCR: 0.48
• 1% rule: 0.53%
• Cash to close: $61,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $219k.
• At list price, monthly cash flow is $-592 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $133k (39.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (46.7% below list).
• It's been on market 266 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (46.7% below list) — sets the bar for 1% rule.
• In year one you build about $23k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 43/100 on livability (#560 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Chilton County (rural): math 15% / reading 34% proficiency, ranked #94 of 129 in AL (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 13 active listings in the ZIP; 25 units permitted in Chilton County in 2024 (0 in 5+ unit buildings).
• Chilton County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $12k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$38k 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 266 days. Have you received any prior offers? Is the seller open to a 47% 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.
• 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?
• 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.