109 Narrow Ln · Greenville, AL 36037

$130,000

3 bd · 2.0 ba · 1,736 sqft · Manufactured public records · 5 Days on market

Built 1994 1.00 ac lot

---

Why this score? — see what drove the D 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 +16.0/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +4.4/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 109 Narrow Lane Rd in Greenville, Alabama! This move-in ready manufactured home offers 3 spacious bedrooms and plenty of room to relax and enjoy comfortable living. The home features a large rear deck, perfect for entertaining family and friends, as well as a side deck. The kitchen comes equipped with a refrigerator and stove, and the washer and dryer will remain with the home, making your move even easier. An outdoor utility storage building is also included, providing extra space for tools, equipment, or seasonal items. Recent updates include a newer hot water heater and HVAC system, offering added peace of mind and energy efficiency. Whether you’re a first-time home

Key facts

• Side deck
• Hvac system
• Large rear deck

Tags

• LARGE REAR DECK
• SIDE DECK
• NEWER HOT WATER HEATER
• HVAC SYSTEM

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Electricity available; Cable available; High-speed internet available
• Home design: Single-story; Vinyl siding exterior; Slab foundation
• Construction: Vinyl siding; Slab foundation; Built date reported by owner
• Exterior features: Deck; Porch; Storage; Mature trees; Outside city limits; Public road frontage

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Two bedrooms on the first floor
• Flooring: Laminate; Plank; Vinyl
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Central electric heating; Central electric cooling (central air)
• Interior features: Breakfast bar; Laminate, plank, and vinyl flooring
• Laundry & utility: Washer hookup; Dryer hookup; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $63 ($759/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 $122k (6.4% below list).
• Recommended offer: $122k (6.4% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.5% in Greenville — 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.

Location & tenants

• Location reads 58/100 on livability (#358 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Butler County (town): math 7% / reading 26% proficiency, ranked #113 of 129 in AL (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wo Parmer Elementary School (542 students, 73% FRL); Greenville Middle School (math 3% / reading 22%, grade F, #216 of 257 statewide, top 86%, 581 students, 90% FRL); Greenville High School (math 2% / reading 8%, grade F, #276 of 305 statewide, top 95%, 659 students, 84% FRL).
• Market conditions: 66 active listings in the ZIP; 13 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Butler County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $6k; list at $130k implies a 1900% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 94% 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.

Recommended offer $121,724 (6.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.94% ✗
• Cap rate: 6.88%
• Cash-on-cash: 2.08%
• DSCR: 1.09
• GRM: 8.9

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: -13.0%
• Equity multiple: 0.53×
• Total profit: $-17,021
• Equity at exit: $19,383

10-year hold

• IRR: -4.0%
• Equity multiple: 0.74×
• Total profit: $-9,562
• Equity at exit: $11,240

Cash invested: $36,400 (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 36037

• Active inventory: 66
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $63

Break-even live

Break-even rent $1,137

Max offer price $130,000

Occupancy floor 90%

Sensitivity live

Price	-10% $153	-5% $108	+0% $63	+5% $18	+10% $-27
Rent	-10% $-33	-5% $15	+0% $63	+5% $111	+10% $159
Rate	-1.0pp $129	-0.5pp $96	base $63	+0.5pp $30	+1.0pp $-5

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-22
   days on market $130,000 Active 5 DOM
2. 2026-06-21
   days on market $130,000 Active 4 DOM
3. 2026-06-19
   days on market $130,000 Active 2 DOM
4. 2026-06-17
   remarks 693-char remark
5. 2026-06-17
   listed $130,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 94% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,607
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − Depreciation: −$3,782
• Taxable loss: −$1,394
• Est. tax savings @ 24.0%: +$335
• After-tax cash flow: $1,093/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.

Schools (NCES district)

• District: Butler County
• NCES district ID: 0100510
• Math proficiency: 7% ▼ -19.00%
• Reading proficiency: 26% ▼ -2.00%
• Median HH income: $32,919
• Composite: 13.31/100
• National rank: #9539
• State rank: #113 of 129 in AL

Livability — Greenville

• Score: 58/100
• State rank: #358
• US rank: #20993

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,974

Population outlook (Butler County) Hauer SSP2

• Today (2025): 18,662 people
• By 2030: 17,783 · -4.7%
• By 2040: 16,040 · -14.0%
• By 2050: 14,498 · -22.3%
• By 2075: 11,409 · -38.9%
• By 2100: 9,080 · -51.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (52%)
• Race & ethnicity: Black 52% White 43% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Serbian 3% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Butler

• 2024 margin: Strong R (+22.7) · D 38.4% · R 61.1%
• 2008→2024 swing: -9.3pp toward R · 2008: -13.3pp · 2024: -22.7pp
• All cycles: 2024: R+22.7 2020: R+15.7 2016: R+13.5 2012: R+7.5 2008: R+13.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.19%
• Current HPI: 91.9114
• 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

+1900.0% since first listed

2 events — show timeline

• 2026-06-17 Listed $130,000 MAAR
• 2005-12-27 Sold (Public Records) $6,500 Public Records

Property tax history

-1.6%/yr

Latest (2025): $139 · +0.0% YoY. Source: county tax records.