1002 East St

Moulton, AL 35650

$104,900B-

9 bd · 9.0 ba · 1,814 sqft · Built — · MultiFamily · Active · 730 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,590/mo
• Mortgage (P&I): −$550
• Tax + insurance: −$175
• HOA: −$0
• Vac / Maint / Mgmt: −$544
• Net cashflow: $1,321/mo
• Annual: $15,854/yr
• Cap rate: 21.41%
• Cash-on-cash: 53.98%
• DSCR: 3.40
• 1% rule: 2.47%
• Cash to close: $29,372

Investor read

• This is a 3 × 1-bed/1-bath units multifamily listed at $105k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $440/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• It's been on market 730 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#296 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Lawrence County (rural): math 14% / reading 38% proficiency, ranked #85 of 129 in AL (top 66%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Moulton Elementary School (math 32% / reading 53%, grade F, #209 of 627 statewide, top 34%, 644 students, 58% FRL); Moulton Middle School (math 9% / reading 42%, grade F, #158 of 257 statewide, top 63%, 509 students, 65% FRL); Lawrence County High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 613 students, 61% FRL).
• Market conditions: 94 active listings in the ZIP; 5 units permitted in Lawrence County in 2024 (0 in 5+ unit buildings).
• Lawrence County population projected at -25% 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 $29k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 21.4% vs local median 3.5% in Moulton — 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 730 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.

Repairs flagged (vision-AI assessment)

• Major: siding — Significant wear and tear
• Major: roof — Visible signs of damage
• Major: flooring — Worn-out carpet
• Major: interior walls/paint — Painted walls with visible wear