3573 Queenstown Rd

Trussville, AL 35173

$185,000B+

3 bd · 2.0 ba · 1,608 sqft · Built 1957 · SingleFamily · Active · 142 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,369/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$256
• HOA: −$0
• Vac / Maint / Mgmt: −$498
• Net cashflow: $646/mo
• Annual: $7,751/yr
• Cap rate: 10.48%
• Cash-on-cash: 14.96%
• DSCR: 1.67
• 1% rule: 1.28%
• Cash to close: $51,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $185k. Condition is rated fair.
• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• It's been on market 142 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#7 in AL, #2,110 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: commute F.
• Trussville City (suburban): math 49% / reading 74% proficiency, ranked #5 of 129 in AL (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Paine Elementary School (math 68% / reading 82%, grade A, #14 of 627 statewide, top 2%, 1,350 students, 16% FRL); Hewitttrussville Middle School (math 33% / reading 75%, grade B-, #20 of 257 statewide, top 8%, 1,202 students, 16% FRL); Hewitttrussville High School (math 50% / reading 50%, grade D+, #15 of 305 statewide, top 5%, 1,573 students, 15% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 405 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 64d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.5% vs local median 3.2% in Trussville — 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 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1957 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and discoloration suggest potential leaks and structural issues.
• Major: exterior siding — Peeling and chipping paint indicate a need for repainting or replacement.
• Major: landscaping — Sparse and overgrown landscaping requires significant maintenance and improvement.
• Minor: HVAC system — Functional but may benefit from a thorough cleaning and inspection for efficiency and safety.