60 Abingdon Trce

Margaret, AL 35120

$190,000C

4 bd · 3.0 ba · 1,944 sqft · Built 2006 · Manufactured · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,883/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$116
• HOA: −$0
• Vac / Maint / Mgmt: −$395
• Net cashflow: $375/mo
• Annual: $4,505/yr
• Cap rate: 8.66%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• 1% rule: 0.99%
• Cash to close: $53,200

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $375 ($5k/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 $188k (0.9% below list).
• It's been on market 55 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#166 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• St Clair County (rural): math 21% / reading 52% proficiency, ranked #33 of 129 in AL (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Odenville Elementary School (436 students, 67% FRL); Saint Clair County High School (math 17% / reading 22%, grade F, #169 of 305 statewide, top 59%, 622 students, 58% FRL) — zoned schools average 63% FRL vs 41% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 36% district-wide (-17 pts) — the specific schools serving this property underperform the St Clair County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 292 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 557 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).
• St. Clair County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.7% vs local median 4.6% in Margaret — 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.
• This rent runs 30% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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.