61 Alfreda Dr

Coats Bend, AL 35901

$149,900C

4 bd · 1.0 ba · 1,508 sqft · Built 2002 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,398/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$294
• Net cashflow: $213/mo
• Annual: $2,556/yr
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• 1% rule: 0.93%
• Cash to close: $41,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $213 ($3k/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 $140k (6.7% below list).
• It's been on market 35 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $140k (6.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#263 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Etowah County (suburban): math 21% / reading 52% proficiency, ranked #36 of 129 in AL (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gaston Elementary School (math 22% / reading 52%, grade F, #267 of 627 statewide, top 45%, 272 students, 76% FRL); Gaston High School (math 8% / reading 42%, grade F, #116 of 305 statewide, top 38%, 368 students, 75% FRL) — zoned schools average 76% FRL vs 41% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 155 active listings in the ZIP; 119 units permitted in Etowah County in 2024 (0 in 5+ unit buildings).
• Etowah County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 13y 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 $78k; list at $150k implies a 91% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: moderate wind risk, 25% 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

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 7% 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?
• 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.