1531 Smith Ave · Elba, AL 36323

$110,000

2 bd · 2.0 ba · 1,124 sqft · Manufactured · 1 Days on market

Built 1989 0.73 ac lot

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Why this score? — see what drove the C- 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 +16.6/30.0
• ARV discount +7.5/15.0
• Appreciation +7.0/10.0
• DSCR +5.2/10.0
• 1% rule +4.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

Tucked away on . 75 acres of peaceful countryside, this 2 bedroom, 2 full bath home offers the space and storage that country living demands. Inside, you'll find the convenience of indoor laundry and a dedicated pantry — practical touches that make everyday living easier. Outside, the property is built for hobbies, projects, and storage: a 2-car detached garage/shop gives you room to work on vehicles, equipment, or your next project, while the 2-car attached carport keeps everyday parking covered. A 10x16 metal storage shed adds even more room for tools, lawn equipment, or seasonal gear. Set back from the road and surrounded by quiet, this . 75-acre homestead is a great fit for anyone

Key facts

• Attached carport
• Dedicated pantry
• Indoor laundry

Tags

• INDOOR LAUNDRY
• DEDICATED PANTRY
• DETACHED GARAGE
• ATTACHED CARPORT
• METAL STORAGE SHED
• PRIVATE SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $67 ($803/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 $105k (4.8% below list).
• Recommended offer: $105k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.8% in Elba — 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 59/100 on livability (#322 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety D, schools F, crime F.
• Elba City (rural): math 13% / reading 34% proficiency, ranked #102 of 129 in AL (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 137 units permitted in Coffee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($761 loan paydown + $4k appreciation (4.0% local appreciation)).
• At projected returns (4.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $104,698 (4.8% 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 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?
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: 0.95% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.61%
• DSCR: 1.12
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.03% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.7%
• Equity multiple: 1.77×
• Total profit: $23,646
• Equity at exit: $55,968

10-year hold

• IRR: 14.1%
• Equity multiple: 3.31×
• Total profit: $71,011
• Equity at exit: $91,696

Cash invested: $30,800 (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 36323

• Home prices YoY: 2.8%
• Active inventory: 46
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,047 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $67

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 89%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-19
   remarks 693-char remark
2. 2026-06-19
   listed $110,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,564
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$3,200
• Taxable loss: −$1,008
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $1,045/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: Elba City
• NCES district ID: 0101260
• Math proficiency: 13% ▼ -29.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $33,062
• Composite: 19.11/100
• National rank: #8836
• State rank: #102 of 129 in AL

Livability — Elba

• Score: 59/100
• State rank: #322
• US rank: #19856

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elba, AL
• City population: 8,033
• Population (ZIP): 8,033

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 53,133 people
• By 2030: 53,832 · +1.3%
• By 2040: 54,504 · +2.6%
• By 2050: 54,289 · +2.2%
• By 2075: 51,175 · -3.7%
• By 2100: 46,793 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 24% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Italian 2% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+57.9) · D 20.7% · R 78.6%
• 2008→2024 swing: -9.0pp toward R · 2008: -48.9pp · 2024: -57.9pp
• All cycles: 2024: R+57.9 2020: R+53.1 2016: R+56.7 2012: R+49.4 2008: R+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.03%
• Current HPI: 150.5884
• 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