539 Lonnie Rd · Madrid, AL 36320

$148,500

3 bd · 2.0 ba · 1,280 sqft · Manufactured public records · 718 Days on market

Built 2021 Fair condition 1.53 ac lot

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

Key facts

• Located on 2 acres
• 1.53 acre lot
• Built 2021

Tags

• LOCATED ON 2 ACRES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $148k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#203 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety D, schools F.
• Houston County (rural): math 25% / reading 49% proficiency, ranked #38 of 129 in AL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 39 active listings in the ZIP; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).

Forward outlook

• 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.
• Houston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 718 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y ago; this cycle's ask is 87253% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $118k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $130,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 718 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.06%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,126
• Equity at exit: $22,142

10-year hold

• IRR: 7.0%
• Equity multiple: 1.53×
• Total profit: $21,904
• Equity at exit: $12,840

Cash invested: $41,580 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 36320

• Home prices YoY: -10.7%
• Active inventory: 39
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,518 medium
• Mortgage (P&I): −$779
• Tax from tax record: −$45 /mo · $538/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $314

Break-even live

Break-even rent $1,121

Max offer price $148,500

Occupancy floor 74%

Sensitivity live

Price	-10% $398	-5% $356	+0% $314	+5% $272	+10% $230
Rent	-10% $194	-5% $254	+0% $314	+5% $374	+10% $434
Rate	-1.0pp $389	-0.5pp $352	base $314	+0.5pp $276	+1.0pp $236

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-31
   days on market $148,500 Active 718 DOM
2. 2026-05-30
   days on market $148,500 Active 717 DOM
3. 2026-04-03
   status Active 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

4. 2026-03-02
   status Active 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

5. 2026-01-03
   status Active 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

6. 2026-01-03
   price $148,500 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

7. 2025-11-02
   status Active 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

8. 2025-07-27
   price $152,999 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

9. 2025-06-10
   price $160,000 549-char remark

   Show marketing remark (549 chars)

   SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

10. 2025-06-09
    status Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

11. 2025-05-04
    status Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

12. 2025-03-29
    price $155,500 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

13. 2025-02-03
    status Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

14. 2025-02-03
    price $165,500 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

15. 2025-01-01
    status Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

16. 2024-12-11
    status Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

17. 2024-10-16
    price $168,000 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

18. 2024-09-08
    price $168,500 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

19. 2024-06-02
    price $170,000 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

20. 2024-06-02
    listed $170 Active 549-char remark

    Show marketing remark (549 chars)

    SELLER MOTIVATED! This charming 3-bedroom, 2-bath manufactured home is nestled on 1.53 acres within the desirable Rehobeth School District. The property includes an electrically-equipped shed, perfect for use as a workshop or conversion into a personalized he/she shed. Additionally, there are two animal stalls ready for your livestock, chickens, the adamant gardener. Located just minutes from the Florida line and approximately 45 minutes from Panama City and Destin. The owner of the property is a licensed Realtor in both Alabama and Florida,

21. 2022-06-13
    soldstatus $118,000
22. 2022-06-09
    soldstatus $118,000 227-char remark

    Show marketing remark (227 chars)

    2021 Timberline 3bd/2bth home on 1.5 acres. Home features 1,140 sq ft with an open/ split plan. Master bath has double vanity, garden tub and a separate shower. Kitchen has a lot of counter space and storage with an island/bar.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $538 · $45/mo
• Projected year-2 tax: $609 · $51/mo
• Expected delta: +$71/yr (+$6/mo · 13.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $18,220
• − Mortgage interest: −$8,318
• − Property taxes: −$538
• − Insurance: −$742
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$4,320
• Taxable income: $1,386
• Est. tax owed @ 24.0%: −$333
• After-tax cash flow: $3,436/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bath manufactured home requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include the exterior siding, paint, and interior walls. Painting and replacing the carpet would significantly enhance the home's curb appeal and interior comfort, making it more attractive for buyers or renters.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major exterior paint — Visible discoloration
• Major interior walls — Significant discoloration

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace carpet — Improves comfort and value
• Both Paint interior walls — Enhances interior appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant wear and tear	Major	$15,000–50,000
exterior paint · Visible discoloration	Major	$15,000–50,000
interior walls · Significant discoloration	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑
• Both Paint interior walls — Enhances interior appearance and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Houston County
• NCES district ID: 0101770
• Math proficiency: 25% ▼ -33.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $40,530
• Composite: 31.01/100
• National rank: #6092
• State rank: #38 of 129 in AL

Livability — Madrid

• Score: 63/100
• State rank: #203
• US rank: #16013

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment B- Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,137

Population outlook (Houston County) Hauer SSP2

• Today (2025): 110,280 people
• By 2030: 112,668 · +2.2%
• By 2040: 116,149 · +5.3%
• By 2050: 117,805 · +6.8%
• By 2075: 118,577 · +7.5%
• By 2100: 110,940 · +0.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 14% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 2% Italian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Houston

• 2024 margin: Solid R (+47.8) · D 25.7% · R 73.5%
• 2008→2024 swing: -7.0pp toward R · 2008: -40.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+42.7 2016: R+47.6 2012: R+40.3 2008: R+40.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -19.25%
• Current HPI: 160.737
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+25.8% since first listed

20 events — show timeline

• 2026-04-03 Relisted — SAMLS
• 2026-03-02 Relisted — SAMLS
• 2026-01-03 Relisted — SAMLS
• 2026-01-03 Price Changed $148,500 SAMLS
• 2025-11-02 Relisted — SAMLS
• 2025-07-27 Price Changed $152,999 SAMLS
• 2025-06-10 Price Changed $160,000 SAMLS
• 2025-06-09 Relisted — SAMLS
• 2025-05-04 Relisted — SAMLS
• 2025-03-29 Price Changed $155,500 SAMLS
• 2025-02-03 Relisted — SAMLS
• 2025-02-03 Price Changed $165,500 SAMLS
• 2025-01-01 Relisted — SAMLS
• 2024-12-11 Relisted — SAMLS
• 2024-10-16 Price Changed $168,000 SAMLS
• 2024-09-08 Price Changed $168,500 SAMLS
• 2024-06-02 Price Changed $170,000 SAMLS
• 2024-06-02 Listed $170 SAMLS
• 2022-06-13 Sold (Public Records) $118,000 Public Records
• 2022-06-09 Sold (MLS) $118,000 SAMLS

Property tax history

+39.2%/yr

Latest (2025): $538 · -10.8% YoY. Source: county tax records.