4943 S Alabama Highway 172

Hodges, AL 35571

$55,000B

3 bd · 2.0 ba · 1,568 sqft · Built 1996 · Manufactured · Active · 100 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $871/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$44
• HOA: −$0
• Vac / Maint / Mgmt: −$183
• Net cashflow: $356/mo
• Annual: $4,271/yr
• Cap rate: 14.06%
• Cash-on-cash: 27.73%
• DSCR: 2.23
• 1% rule: 1.58%
• Cash to close: $15,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($871 rent vs $55k).
• It's been on market 100 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• In year one you build about $4 of equity ($380 loan paydown + $-376 appreciation (-0.7% local appreciation)).
• Location reads 63/100 on livability (#177 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A, housing A-; Watch: schools F, crime D-, amenities F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 4 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• Current owner paid $1k; list at $55k implies a 5400% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.7% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% 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?
• Crime grade is D 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.