261 Grants Rd · Ohatchee, AL 36271

$59,000

4 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 21 Days on market

Built 1995 0.79 ac lot

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

Listing remarks

Discover a truly special opportunity at 261 GRANTS ROAD, OHATCHEE, AL. This manufactured home, built in 1995, offers a generous 1368 square feet of living space, providing a comfortable and adaptable environment for a variety of lifestyles. The four bedrooms provide ample private space, allowing for flexible arrangements whether for family, guests, or dedicated home offices. One of the bathrooms is thoughtfully designed with two sinks, enhancing functionality and convenience for daily routines. Situated on a substantial 34412 square foot lot, this property offers considerable outdoor potential for recreation, gardening, or simply enjoying the open air. This is an exceptional opportunity to

Key facts

• Two sinks
• Substantial lot
• Outdoor potential

Tags

• TWO SINKS
• SUBSTANTIAL LOT
• OUTDOOR POTENTIAL

Property features AI

Finance

• Other: Property accessed via public road; Approximately 0.79 acres
• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Public water; Septic system; Internet service availability unknown
• Home design: Existing construction; Siding-vinyl exterior
• Construction: Crawl space foundation
• Exterior features: Porch; Decks (covered and open); Lake/water view

Interior

• Kitchen: Laminate countertops
• Bedrooms: Living level includes master bedroom and three additional bedrooms
• Flooring: Carpet; Hardwood-look laminate
• Bathrooms: Two full bathrooms; Garden tub and tub/shower combo
• Heating & cooling: Gas heating; Window air conditioning units
• Interior features: Handiman special; Attic present; Ceilings: other (see remarks)
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $59k.

Deal economics

• At list price, monthly cash flow is $469 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $58k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.8% vs local median 2.5% in Ohatchee — 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 57/100 on livability (#395 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Calhoun County (rural): math 19% / reading 49% proficiency, ranked #46 of 129 in AL (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ohatchee Elementary School (math 29% / reading 59%, grade F, #194 of 627 statewide, top 32%, 440 students, 65% FRL); Ohatchee High School (math 15% / reading 44%, grade F, #70 of 305 statewide, top 27%, 413 students, 60% FRL).
• Market conditions: 43 active listings in the ZIP; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,115 (1.5% 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 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?
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. 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.
5. 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.
6. 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: 1.88% ✓
• Cap rate: 15.84%
• Cash-on-cash: 34.09%
• DSCR: 2.52
• GRM: 4.4

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: 29.5%
• Equity multiple: 2.23×
• Total profit: $20,347
• Equity at exit: $8,797

10-year hold

• IRR: 36.8%
• Equity multiple: 4.41×
• Total profit: $56,274
• Equity at exit: $5,101

Cash invested: $16,520 (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 36271

• Home prices YoY: -20.8%
• Active inventory: 43
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,110 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $469

Break-even live

Break-even rent $516

Max offer price $59,000

Occupancy floor 53%

Sensitivity live

Price	-10% $510	-5% $490	+0% $469	+5% $449	+10% $429
Rent	-10% $382	-5% $425	+0% $469	+5% $513	+10% $557
Rate	-1.0pp $499	-0.5pp $484	base $469	+0.5pp $454	+1.0pp $438

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $59,000 Active 21 DOM
2. 2026-06-18
   days on market $59,000 Active 20 DOM
3. 2026-06-17
   days on market $59,000 Active 19 DOM
4. 2026-06-16
   days on market $59,000 Active 18 DOM
5. 2026-06-15
   price $59,000 Active 17 DOM
6. 2026-06-15
   days on market $60,000 Active 17 DOM
7. 2026-06-14
   days on market $60,000 Active 15 DOM
8. 2026-06-13
   days on market $60,000 Active 14 DOM
9. 2026-06-10
   days on market $60,000 Active 12 DOM
10. 2026-06-09
    days on market $60,000 Active 11 DOM
11. 2026-06-08
    days on market $60,000 Active 10 DOM
12. 2026-06-07
    days on market $60,000 Active 9 DOM
13. 2026-06-05
    days on market $60,000 Active 6 DOM
14. 2026-06-03
    days on market $60,000 Active 5 DOM
15. 2026-06-02
    days on market $60,000 Active 4 DOM
16. 2026-06-01
    days on market $60,000 Active 3 DOM
17. 2026-05-31
    days on market $60,000 Active 2 DOM
18. 2026-05-29
    listed $60,000 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 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,322
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,066
• − Management: −$1,066
• − Depreciation: −$1,716
• Taxable income: $4,989
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $4,434/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: Calhoun County
• NCES district ID: 0100540
• Math proficiency: 19% ▼ -26.00%
• Reading proficiency: 49% ▬ 0.00%
• Median HH income: $44,891
• Composite: 28.91/100
• National rank: #6635
• State rank: #46 of 129 in AL

Livability — Ohatchee

• Score: 57/100
• State rank: #395
• US rank: #22187

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 5,991
• Population (ZIP): 5,991

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 109,765 people
• By 2030: 105,708 · -3.7%
• By 2040: 96,192 · -12.4%
• By 2050: 86,413 · -21.3%
• By 2075: 63,467 · -42.2%
• By 2100: 44,704 · -59.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 3% Two or more races 2% Black 2%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Calhoun

• 2024 margin: Solid R (+44.8) · D 27.2% · R 71.9%
• 2008→2024 swing: -12.2pp toward R · 2008: -32.5pp · 2024: -44.8pp
• All cycles: 2024: R+44.8 2020: R+39.0 2016: R+41.4 2012: R+31.9 2008: R+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.59%
• Current HPI: 162.0923
• 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

1 event — show timeline

• 2026-05-29 Listed $60,000 Greater Alabama MLS

Property tax history

+0.0%/yr

Latest (2025): $98 · +0.0% YoY. Source: county tax records.