73 County Road 582

Geraldine, AL 35974

$99,000D

2 bd · 2.0 ba · 728 sqft · Built 2020 · Manufactured · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $824/mo
• Mortgage (P&I): −$519
• Tax + insurance: −$165
• HOA: −$0
• Vac / Maint / Mgmt: −$173
• Net cashflow: $-34/mo
• Annual: $-402/yr
• Cap rate: 5.89%
• Cash-on-cash: -1.45%
• DSCR: 0.94
• 1% rule: 0.83%
• Cash to close: $27,720

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $99k.
• At list price, monthly cash flow is $-34 ($-402/yr) — negative.
• To cash-flow at today's rent, offer at most $94k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $82k (16.8% below list).
• It's been on market 192 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (16.8% below list) — sets the bar for 1% rule.
• In year one you build about $526 of equity ($684 loan paydown + $-158 appreciation (-0.2% local appreciation)).
• Location reads 61/100 on livability (#258 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment D-.
• Dekalb County (rural): math 18% / reading 37% proficiency, ranked #82 of 129 in AL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Crossville Middle School (math 8% / reading 20%, grade F, #209 of 257 statewide, top 82%, 790 students, 82% FRL) — zoned schools average 82% FRL vs 59% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 28% district-wide (-14 pts) — the specific schools serving this property underperform the Dekalb County average; the district grade overstates school quality for this exact location.
• Market conditions: 12 active listings in the ZIP; 49 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).
• DeKalb County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Climate carrying-cost: moderate wildfire risk — expect insurance premiums to compound above CPI over the hold.

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 192 days. Have you received any prior offers? Is the seller open to a 17% 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.