29559 Easter Ferry Rd · Lester, AL 35647

$129,000

3 bd · 2.0 ba · 1,582 sqft · Manufactured · 104 Days on market

Built 1996 1.30 ac lot

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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 +16.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Oh the peacefulness ...the space...and isolated roomy home waiting for you and your family. This home has so many updates including new flooring, super nice walk-in tile shower in the master bath, and spacious closets in every room. Recently replaced roof and HVAC system sitting on a 1.3-acre lot. Home is being sold AS-IS WHERE IS. Dog kennel on the left side of the home does not convey

Key facts

• Spacious closets
• New flooring
• Walk-in tile shower

Tags

• NEW FLOORING
• WALK-IN TILE SHOWER
• SPACIOUS CLOSETS
• REPLACED ROOF
• HVAC SYSTEM
• 1.3-ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $66 ($795/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 $121k (6.0% below list).
• Recommended offer: $117k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#307 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, crime D.
• Limestone County (rural): math 21% / reading 44% proficiency, ranked #52 of 129 in AL (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 18 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 494 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $847 of equity ($892 loan paydown + $-45 appreciation (-0.0% local appreciation)).
• Limestone County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,390 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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?
7. 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.
8. 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.
9. 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: 6.91%
• Cash-on-cash: 2.20%
• DSCR: 1.10
• GRM: 8.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.04% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $251
• Equity at exit: $37,232

10-year hold

• IRR: 5.8%
• Equity multiple: 1.62×
• Total profit: $22,408
• Equity at exit: $44,575

Cash invested: $36,120 (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 35647

• Home prices YoY: -0.0%
• Active inventory: 18
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,212 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $66

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 90%

Sensitivity live

Price	-10% $155	-5% $111	+0% $66	+5% $22	+10% $-23
Rent	-10% $-30	-5% $18	+0% $66	+5% $114	+10% $162
Rate	-1.0pp $131	-0.5pp $99	base $66	+0.5pp $33	+1.0pp $-1

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11561 Rosebud Ln Lester, AL	2.0	2.0	1050	$900	$0.86	45d	1	0.93mi
27715 Salem Minor Hill Rd Lester, AL	3.0	2.0	1515	$1,525	$1.01	25d	1	1.35mi

Listing history 5 events

1. 2026-05-03
   status Pending 389-char remark

   Show marketing remark (389 chars)

   Oh the peacefulness ...the space...and isolated roomy home waiting for you and your family. This home has so many updates including new flooring, super nice walk-in tile shower in the master bath, and spacious closets in every room. Recently replaced roof and HVAC system sitting on a 1.3-acre lot. Home is being sold AS-IS WHERE IS. Dog kennel on the left side of the home does not convey

2. 2026-01-18
   listed $129,000 Active 389-char remark

   Show marketing remark (389 chars)

   Oh the peacefulness ...the space...and isolated roomy home waiting for you and your family. This home has so many updates including new flooring, super nice walk-in tile shower in the master bath, and spacious closets in every room. Recently replaced roof and HVAC system sitting on a 1.3-acre lot. Home is being sold AS-IS WHERE IS. Dog kennel on the left side of the home does not convey

3. 2023-03-08
   status Active
4. 2023-02-02
   historical Contingent
5. 2022-11-13
   listed $129,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,548
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,164
• − Management: −$1,164
• − Depreciation: −$3,753
• Taxable loss: −$1,339
• Est. tax savings @ 24.0%: +$321
• After-tax cash flow: $1,116/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: Limestone County
• NCES district ID: 0102100
• Math proficiency: 21% ▼ -23.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $48,972
• Composite: 28.09/100
• National rank: #6829
• State rank: #52 of 129 in AL

Livability — Lester

• Score: 60/100
• State rank: #307
• US rank: #19275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,031

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 111,441 people
• By 2030: 121,272 · +8.8%
• By 2040: 140,705 · +26.3%
• By 2050: 159,069 · +42.7%
• By 2075: 202,231 · +81.5%
• By 2100: 230,608 · +106.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Lithuanian 2% Serbian 1%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+43.9) · D 27.5% · R 71.4% · Other 1.2%
• 2008→2024 swing: -2.0pp toward R · 2008: -41.9pp · 2024: -43.9pp
• All cycles: 2024: R+43.9 2020: R+42.6 2016: R+49.5 2012: R+43.6 2008: R+41.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▬ -0.04%
• Current HPI: 95.6743
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-03 Pending — VMLS
• 2026-01-18 Listed $129,000 VMLS
• 2023-03-08 Relisted — VMLS
• 2023-02-02 Contingent — VMLS
• 2022-11-13 Listed $129,000 VMLS

Property tax history

+3.0%/yr

Latest (2025): $90 · -67.7% YoY. Source: county tax records.