184 Mclane St

Pinckard, AL 36371

$115,000C-

3 bd · 2.0 ba · 1,352 sqft · Built 1998 · Manufactured · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,094/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$192
• HOA: −$0
• Vac / Maint / Mgmt: −$230
• Net cashflow: $70/mo
• Annual: $838/yr
• Cap rate: 7.02%
• Cash-on-cash: 2.60%
• DSCR: 1.12
• 1% rule: 0.95%
• Cash to close: $32,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated average.
• At list price, monthly cash flow is $70 ($838/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (4.8% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $109k (4.8% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($795 loan paydown + $865 appreciation (0.8% local appreciation)).
• Location reads 66/100 on livability (#93 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, amenities F, commute F.
• Dale County (rural): math 31% / reading 50% proficiency, ranked #26 of 129 in AL (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Midland City Elementary School (math 22% / reading 47%, grade F, #296 of 627 statewide, top 49%, 453 students, 79% FRL); South Dale Middle School (math 18% / reading 44%, grade F, #118 of 257 statewide, top 46%, 426 students, 78% FRL); Dale County High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 417 students, 73% FRL) — zoned schools average 77% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 40% district-wide (-13 pts) — the specific schools serving this property underperform the Dale County average; the district grade overstates school quality for this exact location.
• Market conditions: 2 active listings in the ZIP; 38 units permitted in Dale County in 2024 (0 in 5+ unit buildings).
• Dale County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% 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

• 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.

Repairs flagged (vision-AI assessment)

• Minor: Paint — Some wear on interior walls
• Minor: Flooring — Carpet in living areas could be replaced