110 Poplar St

Monroeville, AL 36460

$525,000B-

10 bd · 5.0 ba · 1,440 sqft · Built 1989 · MultiFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,298/mo
• Mortgage (P&I): −$2,753
• Tax + insurance: −$334
• HOA: −$0
• Vac / Maint / Mgmt: −$1,533
• Net cashflow: $2,678/mo
• Annual: $32,135/yr
• Cap rate: 12.41%
• Cash-on-cash: 21.86%
• DSCR: 1.97
• 1% rule: 1.39%
• Cash to close: $147,000

Investor read

• This is a 10-bed/5.0-bath multifamily listed at $525k.
• At list price, monthly cash flow is $3k ($32k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $525k).
• It's been on market 110 days — a 9% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $478k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#377 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A-, housing B+; Watch: schools F, amenities F, commute F.
• Monroe County (rural): math 7% / reading 27% proficiency, ranked #112 of 129 in AL (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 22 active listings in the ZIP; 47 units permitted in Monroe County in 2024 (45 in 5+ unit buildings).
• Monroe County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $100k; list at $525k implies a 425% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $147k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% 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.

Questions for listing agent

• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.