100 Whittemore Rd

Jasper, AL 35503

$189,900B

4 bd · 2.0 ba · 1,791 sqft · Built — · Manufactured · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,597/mo
• Mortgage (P&I): −$1,043
• Tax + insurance: −$331
• HOA: −$0
• Vac / Maint / Mgmt: −$755
• Net cashflow: $1,468/mo
• Annual: $17,610/yr
• Cap rate: 15.15%
• Cash-on-cash: 31.64%
• DSCR: 2.41
• 1% rule: 1.81%
• Cash to close: $55,664

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $190k. Condition is rated excellent.
• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#228 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Walker County (rural): math 13% / reading 39% proficiency, ranked #89 of 129 in AL (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 36 units permitted in Walker County in 2024 (0 in 5+ unit buildings).
• Walker County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.
• Cap rate 15.2% vs local median 3.8% in Jasper — 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

• 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?
• Crime grade is F 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?
• 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.