4606 County Road 514

New Brockton, AL 36323

$144,900D-

3 bd · 22.0 ba · 1,248 sqft · Built 2021 · Manufactured · Active · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,028/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$242
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $-189/mo
• Annual: $-2,272/yr
• Cap rate: 4.72%
• Cash-on-cash: -5.60%
• DSCR: 0.75
• 1% rule: 0.71%
• Cash to close: $40,572

Investor read

• This is a 3-bed/22.0-bath manufactured listed at $145k.
• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (18.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $103k (29.1% below list).
• It's been on market 37 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (29.1% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (4.0% local appreciation)).
• Location reads 66/100 on livability (#100 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D, schools F, amenities F.
• Coffee County (rural): math 27% / reading 50% proficiency, ranked #30 of 129 in AL (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 137 units permitted in Coffee County in 2024 (0 in 5+ unit buildings).
• 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.
• By year 6, paydown + projected appreciation supports a ~$36k 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.
• Cap rate 4.7% vs local median 2.5% in New Brockton — 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 37 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.