204 S Live Oak St

Geneva, AL 36340

$129,900C-

3 bd · 2.0 ba · 4,020 sqft · Built 1901 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$147
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $103/mo
• Annual: $1,239/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• 1% rule: 0.91%
• Cash to close: $36,372

Investor read

• This is a 3-bed/2.0-bath single-family listed at $130k.
• At list price, monthly cash flow is $103 ($1k/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 $118k (9.3% below list).
• It's been on market 26 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.3% below list) — sets the bar for 1% rule.
• In year one you build about $5k of equity ($898 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 64/100 on livability (#168 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, health & safety D, amenities F.
• Geneva City (town): math 27% / reading 51% proficiency, ranked #31 of 129 in AL (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mulkey Elementary School (math 30% / reading 64%, grade D-, #142 of 627 statewide, top 25%, 572 students, 65% FRL); Geneva Middle School (math 23% / reading 47%, grade F, #86 of 257 statewide, top 34%, 293 students, 57% FRL); Geneva High School (math 27% / reading 22%, grade F, #118 of 305 statewide, top 45%, 387 students, 58% FRL).
• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 31 active listings in the ZIP; 39 units permitted in Geneva County in 2024 (0 in 5+ unit buildings).
• Geneva County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $86k; list at $130k implies a 52% gain — meaningful room to come down on a strong offer.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% 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.

Questions for listing agent

• Built in 1901 — 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?
• 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.