2101 Co Rd 129 · Waterloo, AL 35677

$174,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 8 Days on market

Built 2014 15 ac lot

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Why this score? — see what drove the D- 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 +8.2/30.0
• Appreciation +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.1/5.0
• Schools +2.8/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0

Listing remarks

Tucked away in the peaceful countryside of Waterloo, AL, this private retreat offers the perfect blend of comfort, nature and acreage. Situated on 15.45 beautiful acres along scenic Bitter Branch Creek, this 2014 16x80 manufactured home features 3 beds/2 baths with plenty of room to relax and enjoy country living. Surrounded by mature trees and abundant wildlife, the property provides exceptional privacy and a serene setting ideal for a weekend getaway, hunting retreat, or a full-time residence. Buyer to verify all information.

Key facts

• Bitter branch creek
• 15.45 acres
• Abundant wildlife

Tags

• 15.45 ACRES
• BITTER BRANCH CREEK
• MATURE TREES
• ABUNDANT WILDLIFE
• EXCEPTIONAL PRIVACY
• SERENE SETTING

Property features AI

Exterior

• Utilities: Public water; Water connected; Septic tank; Electricity connected; Propane available
• Home design: Manufactured home (residential); Single-story / main-level entry
• Construction: Aluminum siding; Vinyl siding; Shingle roof; Pillar/post/pier foundation; Manufactured home dimensions approximately 16 x 80
• Exterior features: Front porch; Many trees; Secluded setting; Wooded lot

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Exhaust fan
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet; Combination flooring; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Propane heating; Wall furnace; Central air (electric)
• Interior features: Eat-in kitchen; Kitchen island; Open floorplan; Soaking tub; Walk-in closets; Has view
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in hall; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-163 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (24.4% below list).
• Recommended offer: $132k (24.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 61/100 on livability (#277 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Lauderdale County (rural): math 19% / reading 46% proficiency, ranked #53 of 129 in AL (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lauderdale County High School (math 23% / reading 41%, grade F, #59 of 305 statewide, top 21%, 543 students, 51% FRL).
• Market conditions: 22 active listings in the ZIP; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (6.5% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $132,305 (24.4% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.76% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.92×
• Total profit: $45,197
• Equity at exit: $115,366

10-year hold

• IRR: 13.7%
• Equity multiple: 3.86×
• Total profit: $139,941
• Equity at exit: $214,054

Cash invested: $48,972 (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 35677

• Home prices YoY: 3.9%
• Active inventory: 22
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,323 medium
• Mortgage (P&I): −$917
• Tax est. 1.5%: −$219 /mo · $2,624/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $-163

Break-even live

Break-even rent $1,530

Max offer price $151,243

Occupancy floor —

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-21
   listed $174,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 5/10 Major 6 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,877
• − Mortgage interest: −$9,797
• − Property taxes: −$2,624
• − Insurance: −$874
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$5,088
• Taxable loss: −$5,047
• Est. tax savings @ 24.0%: +$1,211
• After-tax cash flow: $-751/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: Lauderdale County
• NCES district ID: 0102010
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $47,501
• Composite: 27.93/100
• National rank: #6863
• State rank: #53 of 129 in AL

Livability — Waterloo

• Score: 61/100
• State rank: #277
• US rank: #18440

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,874

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Slovak 5% Serbian 4% Iranian 2%
• Foreign-born: 0% · Vietnam

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.49%
• Current HPI: 173.8023
• 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

1 event — show timeline

• 2026-05-21 Listed $174,900 SAARMLS

Property tax history

+11.7%/yr

Latest (2025): $293 · +4.0% YoY. Source: county tax records.