385 Country Club Dr

Wetumpka, AL 36092

$255,000D-

3 bd · 1.0 ba · 1,502 sqft · Built 2013 · SingleFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,878/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$394
• Net cashflow: $-3/mo
• Annual: $-42/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• 1% rule: 0.74%
• Cash to close: $71,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $255k.
• At list price, monthly cash flow is $-3 ($-42/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (26.4% below list).
• It's been on market 49 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (26.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#22 in AL, #4,825 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D, amenities D, employment D.
• Elmore County (town): math 27% / reading 54% proficiency, ranked #21 of 129 in AL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 146 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 92 units permitted in Elmore County in 2024 (0 in 5+ unit buildings).
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 13y 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.
• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.3% vs local median 4.0% in Wetumpka — 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?
• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• 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.
• 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.