Tivoli Plan

Athens, AL 35613

$335,250F

4 bd · 3.0 ba · 2,173 sqft · Built — · SingleFamily · Active · 163 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,634/mo
• Mortgage (P&I): −$2,155
• Tax + insurance: −$685
• HOA: −$0
• Vac / Maint / Mgmt: −$553
• Net cashflow: $-759/mo
• Annual: $-9,109/yr
• Cap rate: 4.08%
• Cash-on-cash: -7.92%
• DSCR: 0.65
• 1% rule: 0.64%
• Cash to close: $115,070

Investor read

• This is a 4-bed/3.0-bath single-family listed at $335k.
• At list price, monthly cash flow is $-759 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $263k (21.4% below list).
• It's been on market 163 days — a 12% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $263k (21.4% below list) — sets the bar for 1% rule.
• 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 75/100 on livability (#18 in AL, #4,019 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, commute F.
• Athens City (town): math 27% / reading 51% proficiency, ranked #29 of 129 in AL (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Julian Newman Elementary School (math 42% / reading 57%, grade D, #121 of 627 statewide, top 21%, 371 students, 43% FRL); Athens Middle School (math 15% / reading 45%, grade F, #121 of 257 statewide, top 50%, 958 students, 59% FRL); Athens High School (math 29% / reading 38%, grade F, #56 of 305 statewide, top 18%, 1,173 students, 51% FRL).
• Market conditions: 821 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($101k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 163 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.