1209 Westridge Ln

Grayson Valley, AL 35235

$194,900D

3 bd · 2.0 ba · 1,516 sqft · Built 1977 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,505/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $-63/mo
• Annual: $-752/yr
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• 1% rule: 0.77%
• Cash to close: $54,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $-63 ($-752/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (22.8% below list).
• It's been on market 47 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (22.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#139 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: amenities F, commute F, employment D-.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chalkville Elementary School (math 6% / reading 16%, grade F, #560 of 627 statewide, top 90%, 854 students, 79% FRL); Claychalkville Middle School (math 2% / reading 26%, grade F, #209 of 257 statewide, top 82%, 1,032 students, 64% FRL); Claychalkville High School (math 6% / reading 9%, grade F, #261 of 305 statewide, top 87%, 1,361 students, 56% FRL) — zoned schools average 66% FRL vs 49% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.4%/yr); 115 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 5y 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, 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.

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 47 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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.