7233 Dons Dr

Rock Creek, AL 35023

$189,000D+

4 bd · 2.0 ba · 1,512 sqft · Built 2024 · Other · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,615/mo
• Mortgage (P&I): −$991
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$339
• Net cashflow: $146/mo
• Annual: $1,751/yr
• Cap rate: 7.22%
• Cash-on-cash: 3.31%
• DSCR: 1.15
• 1% rule: 0.85%
• Cash to close: $52,920

Investor read

• This is a 4-bed/2.0-bath other listed at $189k.
• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (14.5% below list).
• It's been on market 93 days — a 9% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (14.5% below list) — sets the bar for 1% rule.
• In year one you build about $173 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 57/100 on livability (#401 in AL) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A-; Watch: employment D, schools F, amenities F.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.6%/yr); 250 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 3y 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 $15k; list at $189k implies a 1160% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 15% 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.
• 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.