1406 34th St

Haleyville, AL 35565

$155,500D

4 bd · 1.0 ba · 1,663 sqft · Built 1960 · SingleFamily · Active · 45 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,244/mo
• Mortgage (P&I): −$815
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $62/mo
• Annual: $744/yr
• Cap rate: 6.77%
• Cash-on-cash: 1.71%
• DSCR: 1.08
• 1% rule: 0.80%
• Cash to close: $43,540

Investor read

• This is a 4-bed/1.0-bath single-family listed at $156k.
• At list price, monthly cash flow is $62 ($744/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 $124k (20.0% below list).
• It's been on market 45 days — a 3% lower offer ($151k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (20.0% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (4.6% local appreciation)).
• Location reads 60/100 on livability (#287 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Haleyville City (rural): math 23% / reading 47% proficiency, ranked #50 of 129 in AL (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Haleyville Elementary School (math 29% / reading 51%, grade F, #241 of 627 statewide, top 38%, 808 students, 70% FRL); Haleyville Middle School (math 17% / reading 46%, grade F, #114 of 257 statewide, top 45%, 357 students, 69% FRL); Haleyville High School (math 22% / reading 32%, grade F, #90 of 305 statewide, top 35%, 479 students, 64% FRL) — zoned schools average 68% FRL vs 51% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 78 active listings in the ZIP; 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.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 4.6% in Haleyville — 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 45 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1960 — 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 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?
• Crime grade is F 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?
• 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.