4318 County Road 38

Langston, AL 35771

$149,900C-

3 bd · 1.0 ba · 1,877 sqft · Built 1968 · SingleFamily · Active · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,433/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $249/mo
• Annual: $2,982/yr
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• 1% rule: 0.96%
• Cash to close: $41,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.4% below list).
• It's been on market 35 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (4.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 53/100 on livability (#482 in AL) — a working-class tenant base; expect higher turnover. Strengths: crime A+, housing B; Watch: amenities F, commute F, employment D-.
• Jackson County (rural): math 20% / reading 41% proficiency, ranked #70 of 129 in AL (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dutton Elementary School (math 37% / reading 52%, grade F, #171 of 627 statewide, top 31%, 224 students, 74% FRL); Stevenson Middle School (math 8% / reading 33%, grade F, #191 of 257 statewide, top 74%, 255 students, 66% FRL) — zoned schools average 70% FRL vs 55% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 27 active listings in the ZIP; 46 units permitted in Jackson County in 2024 (0 in 5+ unit buildings).
• Jackson County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk; 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 35 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
• Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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.