2458 Hwy 183

Haleyville, AL 35565

$150,000C-

4 bd · 1.0 ba · 2,310 sqft · Built 1970 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,294/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$250
• HOA: −$0
• Vac / Maint / Mgmt: −$272
• Net cashflow: $-15/mo
• Annual: $-176/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $42,000

Investor read

• This is a 4-bed/1.0-bath single-family listed at $150k. Condition is rated fair.
• At list price, monthly cash flow is $-15 ($-176/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (13.8% below list).
• It's been on market 84 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (13.8% 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: schools D-, crime F, amenities F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 79 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• At projected returns (4.6% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.2% 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

• 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 84 days. Have you received any prior offers? Is the seller open to a 14% 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 1970 — 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 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?

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear
• Major: exterior siding — Significant wear and tear
• Major: interior walls/paint — No visible condition