801 Bonnie Dr

Weaver, AL 36277

$145,000C

3 bd · 1.5 ba · 1,592 sqft · Built 1961 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,419/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$141
• HOA: −$0
• Vac / Maint / Mgmt: −$298
• Net cashflow: $220/mo
• Annual: $2,644/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.51%
• DSCR: 1.29
• 1% rule: 0.98%
• Cash to close: $40,600

Investor read

• This is a 3-bed/1.5-bath single-family listed at $145k.
• At list price, monthly cash flow is $220 ($3k/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 $142k (2.1% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $142k (2.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#195 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Calhoun County (rural): math 19% / reading 49% proficiency, ranked #46 of 129 in AL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Weaver Elementary School (math 15% / reading 52%, grade F, #318 of 627 statewide, top 51%, 553 students, 73% FRL); Weaver High School (math 11% / reading 40%, grade F, #111 of 305 statewide, top 37%, 517 students, 67% FRL) — zoned schools average 70% FRL vs 49% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 30 active listings in the ZIP; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 6.6% in Weaver — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• Built in 1961 — 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.