680 Pine Acres

Daleville, AL 36352

$175,000C+

None bd · None ba · — sqft · Built — · MultiFamily · Active · 82 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,050/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$430
• Net cashflow: $410/mo
• Annual: $4,921/yr
• Cap rate: 9.11%
• Cash-on-cash: 10.04%
• DSCR: 1.45
• 1% rule: 1.17%
• Cash to close: $49,000

Investor read

• This is a multifamily listed at $175k. Condition is rated poor.
• At list price, monthly cash flow is $410 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.8% local appreciation)).
• Location reads 61/100 on livability (#278 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: health & safety D, schools F, amenities F.
• Houston County (rural): math 25% / reading 49% proficiency, ranked #38 of 129 in AL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 60 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).
• Houston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts 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.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.1% vs local median 6.5% in Daleville — 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

• It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Repairs flagged (vision-AI assessment)

• Major: Mobile home siding — Significant damage and missing siding.
• Major: Mobile home roof — Visible damage and possible leaking.
• Major: Landscaping and yard cleanup — Debris and old furniture need removal for a better appearance.