675 Wilson Blvd

Axis, AL 36505

$200,000C+

5 bd · 3.0 ba · 3,460 sqft · Built 1971 · SingleFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,901/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$399
• Net cashflow: $301/mo
• Annual: $3,608/yr
• Cap rate: 8.10%
• Cash-on-cash: 6.44%
• DSCR: 1.29
• 1% rule: 0.95%
• Cash to close: $56,000

Investor read

• This is a 5-bed/3.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $301 ($4k/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 $190k (4.9% below list).
• It's been on market 65 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-2.8%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 52/100 on livability (#497 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Mobile County (urban): math 15% / reading 39% proficiency, ranked #81 of 129 in AL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 18 active listings in the ZIP; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• Current owner paid $164k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.