9661 Curry Hwy #134

Arley, AL 35503

$385,000C-

2 bd · 2.0 ba · 1,344 sqft · Built 2010 · Condo · Active · 183 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,237/mo
• Mortgage (P&I): −$2,019
• Tax + insurance: −$642
• HOA: −$401
• Vac / Maint / Mgmt: −$890
• Net cashflow: $285/mo
• Annual: $3,425/yr
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• 1% rule: 1.10%
• Cash to close: $107,800

Investor read

• This is a 2-bed/2.0-bath condo listed at $385k. Condition is rated good.
• At list price, monthly cash flow is $285 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $385k).
• It's been on market 183 days — a 12% lower offer ($339k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $339k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#187 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A; Watch: schools C-, employment C-, amenities F.
• Winston County (rural): math 13% / reading 39% proficiency, ranked #91 of 129 in AL (top 70%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 109 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1 units permitted in Winston County in 2024 (0 in 5+ unit buildings).
• Winston County population projected at -20% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• 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.
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?