1215 5th Ave

Haleyville, AL 35565

$26,900B+

2 bd · 1.0 ba · 1,960 sqft · Built 2002 · Manufactured · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,026/mo
• Mortgage (P&I): −$141
• Tax + insurance: −$17
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $652/mo
• Annual: $7,828/yr
• Cap rate: 35.39%
• Cash-on-cash: 103.93%
• DSCR: 5.62
• 1% rule: 3.82%
• Cash to close: $7,532

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $27k.
• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• It's been on market 121 days — a 12% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $24k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($186 loan paydown + $1k appreciation (4.6% local appreciation)).
• Location reads 60/100 on livability (#287 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, amenities F.
• Haleyville City (rural): math 23% / reading 47% proficiency, ranked #50 of 129 in AL (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 77 active listings in the ZIP; 1 units permitted in Winston County in 2024 (0 in 5+ unit buildings).
• Winston County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 35.4% vs local median 4.5% in Haleyville — 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

• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% 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 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.