129 County Road 45

Hayden, AL 35033

$116,999C+

3 bd · 2.0 ba · 1,710 sqft · Built 1940 · SingleFamily · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,238/mo
• Mortgage (P&I): −$614
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $259/mo
• Annual: $3,110/yr
• Cap rate: 8.95%
• Cash-on-cash: 9.49%
• DSCR: 1.42
• 1% rule: 1.06%
• Cash to close: $32,760

Investor read

• This is a 3-bed/2.0-bath single-family listed at $117k.
• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $4k of equity ($809 loan paydown + $3k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#137 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools D+, amenities F, commute F.
• Cullman County (rural): math 19% / reading 49% proficiency, ranked #49 of 129 in AL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 87 active listings in the ZIP; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 12y ago; this cycle's ask has dropped $28k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.0% vs local median 4.2% in Hayden — 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

• Built in 1940 — 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?
• 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.