911 Patton Rd

Oneonta, AL 35121

$107,000D+

2 bd · 1.0 ba · 1,008 sqft · Built 1960 · SingleFamily · Pending · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $863/mo
• Mortgage (P&I): −$561
• Tax + insurance: −$178
• HOA: −$0
• Vac / Maint / Mgmt: −$181
• Net cashflow: $-58/mo
• Annual: $-692/yr
• Cap rate: 5.65%
• Cash-on-cash: -2.31%
• DSCR: 0.90
• 1% rule: 0.81%
• Cash to close: $29,960

Investor read

• This is a 2-bed/1.0-bath single-family listed at $107k. Condition is rated poor.
• At list price, monthly cash flow is $-58 ($-692/yr) — negative.
• To cash-flow at today's rent, offer at most $99k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $86k (19.3% below list).
• It's been on market 24 days — a 2% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $86k (19.3% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($740 loan paydown + $6k appreciation (5.7% local appreciation)).
• Location reads 59/100 on livability (#337 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: schools D, employment D, amenities F.
• Oneonta City (rural): math 27% / reading 55% proficiency, ranked #25 of 129 in AL (top 19%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 13 units permitted in Blount County in 2024 (0 in 5+ unit buildings).
• Blount County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.6% vs local median 2.2% in Oneonta — 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

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: Metal roof — Significant rust and damage
• Major: Siding — Weathered and missing shingles
• Major: Interior walls and paint — No photos available, but likely in poor condition