1080 Waterfront Cir · Lincoln, AL 35096

$135,000

3 bd · 2.0 ba · 1,600 sqft · Manufactured · 8 Days on market

Built 2001 Average condition 1.00 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.8/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Appreciation +6.5/10.0
• 1% rule +5.9/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0

Listing remarks

Beautiful manufactured home on Logan Martin Lake — perfect as a lake getaway or full-time residence! This 3 bedroom, 2 bath home also features a bonus room and the biggest deck overlooking the water you’ve ever seen. Enjoy incredible lake views, outdoor entertaining, and peaceful waterfront living.

Key facts

• Lake views
• Outdoor entertaining
• Waterfront living

Tags

• LOGAN MARTIN LAKE
• BIGGEST DECK
• LAKE VIEWS
• OUTDOOR ENTERTAINING
• WATERFRONT LIVING

Property features AI

Finance

• Financial info: Down payment assistance available
• HOA & community: No association fee

Exterior

• Parking: Attached parking; Driveway parking; One carport space
• Utilities: Public water; Septic system; Gas water heater; Internet service available (Coosa Valley)
• Home design: Single-family home (existing); Located in the Sunset Cove subdivision; Views of Logan Martin Lake
• Construction: Siding (other); Pillars/support foundation; Year-built described as existing
• Exterior features: Private dock; Storage building; Open deck; Lake/water view

Interior

• Kitchen: Solid surface countertops; Gas stove
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level
• Flooring: Hardwood laminate floors
• Bathrooms: Two full bathrooms; Tub/shower combos
• Heating & cooling: Central heating; Central cooling
• Interior features: Ceilings noted as 'Other (see remarks)'; All window treatments remain; No additional interior features listed
• Laundry & utility: Main-level laundry room; Washer hookup provided; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Cap rate 8.4% vs local median 4.3% in Lincoln — 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.

Location & tenants

• Location reads 62/100 on livability (#230 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Talladega County (rural): math 15% / reading 44% proficiency, ranked #75 of 129 in AL (top 58%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lincoln Elementary School (math 20% / reading 48%, grade F, #311 of 627 statewide, top 50%, 853 students, 62% FRL); Lincoln High School (math 12% / reading 27%, grade F, #169 of 305 statewide, top 59%, 585 students, 68% FRL) — zoned schools at 65% FRL track the district average.
• Market conditions: 222 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 189 units permitted in Talladega County in 2024 (6 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($933 loan paydown + $4k appreciation (3.0% local appreciation)).
• Talladega County population projected at -14% 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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.

Recommended offer $135,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.42%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.3%
• Equity multiple: 1.82×
• Total profit: $30,886
• Equity at exit: $60,395

10-year hold

• IRR: 16.2%
• Equity multiple: 3.37×
• Total profit: $89,494
• Equity at exit: $92,838

Cash invested: $37,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35096

• Home prices YoY: 1.2%
• Active inventory: 222
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,477 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $234

Break-even live

Break-even rent $1,181

Max offer price $135,000

Occupancy floor 79%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 River Grass Dr Lincoln, AL	3.0	2.5	1484	$1,425	$0.96	15d	1	0.85mi
104 Marine Dr Lincoln, AL	3.0	2.5	1484	$1,300	$0.88	43d	1	0.87mi
98 Marine Dr Lincoln, AL	3.0	2.5	1484	$1,395	$0.94	43d	1	0.88mi
327 Orchid Ln Lincoln, AL	4.0	2.5	2014	$1,920	$0.95	43d	1	1.07mi

Listing history 1 events

1. 2026-05-18
   listed $135,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 32% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,722
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,418
• − Management: −$1,418
• − Depreciation: −$3,927
• Taxable income: $697
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $2,638/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 23 photos

Average 55/100 Cosmetic rehab

This manufactured home on Logan Martin Lake offers a good starting point for a cosmetic renovation, with minor repairs and maintenance needed to enhance its curb appeal and value.

Repairs flagged

• Minor Deck and siding — Weathered appearance
• Minor Carpet — Worn condition
• Minor Kitchen cabinets — Worn appearance

Value-add opportunities

• Both Painting interior walls and cabinets — Fresh paint enhances curb appeal and interior aesthetics
• Both Deck and siding repair — Maintaining structural integrity and improving curb appeal
• Both New carpet — Fresh carpet improves comfort and aesthetics
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Deck and siding · Weathered appearance	Minor	$500–3,000
Carpet · Worn condition	Minor	$500–3,000
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Painting interior walls and cabinets — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Deck and siding repair — Maintaining structural integrity and improving curb appeal ↑
• Both New carpet — Fresh carpet improves comfort and aesthetics ↑
• Both Landscaping — Well-maintained landscaping enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Talladega County
• NCES district ID: 0103180
• Math proficiency: 15% ▼ -24.00%
• Reading proficiency: 44% ▲ 3.00%
• Median HH income: $37,715
• Composite: 24.5/100
• National rank: #7650
• State rank: #75 of 129 in AL

Livability — Lincoln

• Score: 62/100
• State rank: #230
• US rank: #17221

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment C Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lincoln, AL
• City population: 9,201
• Population (ZIP): 9,201

Population outlook (Talladega County) Hauer SSP2

• Today (2025): 78,905 people
• By 2030: 77,160 · -2.2%
• By 2040: 72,937 · -7.6%
• By 2050: 68,279 · -13.5%
• By 2075: 57,884 · -26.6%
• By 2100: 47,220 · -40.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 19% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 98% English-only · Vietnamese 1% Spanish 1%

Political lean MEDSL · Talladega

• 2024 margin: Solid R (+33.8) · D 32.9% · R 66.6%
• 2008→2024 swing: -15.3pp toward R · 2008: -18.5pp · 2024: -33.8pp
• All cycles: 2024: R+33.8 2020: R+25.5 2016: R+25.6 2012: R+16.0 2008: R+18.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.96%
• Current HPI: 255.9195
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

1 event — show timeline

• 2026-05-18 Listed $135,000 Greater Alabama MLS