1069 Midway Estates Rd · Alexander City, AL 36861

$29,900

2 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 47 Days on market

Built 1991 2.45 ac lot ↓ 57% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is. Cash only.

Key facts

• 2.45 acre lot
• Built 1991
• Listed 47 days

Property features AI

Finance

• Other: Tax district: County
• Financial info: Down payment assistance available
• HOA & community: No subdivision or HOA listed

Exterior

• Parking: Off-street parking
• Security: No security features listed
• Utilities: Public water; Electric water heater; Internet availability unknown
• Home design: Existing structure; Single-story living areas (rooms listed at level 1)
• Construction: Siding (other) exterior; Pillars/support foundation
• Exterior features: Mountain view; No pool; No patio; No decks; Not on waterfront; Property sits on approximately 2.45 acres

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Two bedrooms on main level
• Flooring: Hardwood
• Bathrooms: Two full bathrooms (shared bath noted)
• Heating & cooling: Central heating; Central cooling
• Interior features: Hardwood floors; Ceilings: Other (see remarks); No additional interior features listed
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $30k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($897 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 27.0% vs local median 0.6% in Alexander City — 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.

Location & tenants

• Location reads 55/100 on livability (#426 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute F.
• Alexander City (town): math 18% / reading 39% proficiency, ranked #77 of 129 in AL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jim Pearson Elementary School (772 students, 46% FRL); Benjamin Russell High School (math 17% / reading 22%, grade F, #169 of 305 statewide, top 59%, 812 students, 38% FRL).
• Market conditions: 74 active listings in the ZIP; 218 units permitted in Tallapoosa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 of value loss. Plan a longer hold.
• Tallapoosa County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 3.00% ✓
• Cap rate: 27.02%
• Cash-on-cash: 74.01%
• DSCR: 4.29
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 73.8%
• Equity multiple: 4.35×
• Total profit: $28,045
• Equity at exit: $4,458

10-year hold

• IRR: 77.6%
• Equity multiple: 8.98×
• Total profit: $66,785
• Equity at exit: $2,585

Cash invested: $8,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 36861

• Home prices YoY: -15.1%
• Active inventory: 74
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $897 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$23 /mo · $274/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $516

Break-even live

Break-even rent $243

Max offer price $29,900

Occupancy floor 37%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-20
   status Pending
2. 2026-04-10
   price $29,900
3. 2026-03-25
   price $39,900
4. 2026-03-10
   price $49,900
5. 2026-03-06
   price $59,900
6. 2026-03-04
   listed $69,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $274 · $23/mo
• Projected year-2 tax: $274 · $23/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,761
• − Mortgage interest: −$1,675
• − Property taxes: −$274
• − Insurance: −$150
• − Repairs & maintenance: −$861
• − Management: −$861
• − Depreciation: −$870
• Taxable income: $6,071
• Est. tax owed @ 24.0%: −$1,457
• After-tax cash flow: $4,739/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Alexander City
• NCES district ID: 0100030
• Math proficiency: 18% ▼ -25.00%
• Reading proficiency: 39% ▲ 1.00%
• Median HH income: $35,482
• Composite: 23.49/100
• National rank: #7871
• State rank: #77 of 129 in AL

Livability — Alexander City

• Score: 55/100
• State rank: #426
• US rank: #23127

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alexander City, AL
• City population: 19,619
• Population (ZIP): 2,805

Population outlook (Tallapoosa County) Hauer SSP2

• Today (2025): 38,909 people
• By 2030: 37,413 · -3.8%
• By 2040: 33,935 · -12.8%
• By 2050: 30,467 · -21.7%
• By 2075: 22,716 · -41.6%
• By 2100: 15,167 · -61.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 8% Native American 4%
• Common ancestry: Serbian 3% Lithuanian 2% Italian 1%
• Foreign-born: 0% · South Korea
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Tallapoosa

• 2024 margin: Solid R (+49.6) · D 24.9% · R 74.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -36.5pp · 2024: -49.6pp
• All cycles: 2024: R+49.6 2020: R+43.4 2016: R+41.6 2012: R+32.4 2008: R+36.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.69%
• Current HPI: 280.1383
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-57.2% since first listed

6 events — show timeline

• 2026-04-20 Pending — Greater Alabama MLS
• 2026-04-10 Price Changed $29,900 Greater Alabama MLS
• 2026-03-25 Price Changed $39,900 Greater Alabama MLS
• 2026-03-10 Price Changed $49,900 Greater Alabama MLS
• 2026-03-06 Price Changed $59,900 Greater Alabama MLS
• 2026-03-04 Listed $69,900 Greater Alabama MLS

Property tax history

+6.5%/yr

Latest (2025): $274 · +51.5% YoY. Source: county tax records.