446 Woodyard St

Dadeville, AL 36853

$118,500C

3 bd · 1.0 ba · 2,761 sqft · Built 1950 · SingleFamily · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$621
• Tax + insurance: −$76
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $174/mo
• Annual: $2,091/yr
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• 1% rule: 0.93%
• Cash to close: $33,180

Investor read

• This is a 3-bed/1.0-bath single-family listed at $118k.
• At list price, monthly cash flow is $174 ($2k/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 $110k (6.8% below list).
• It's been on market 128 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $819 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#468 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: schools F, crime F, amenities F.
• Tallapoosa County (rural): math 15% / reading 35% proficiency, ranked #93 of 129 in AL (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 280 active listings in the ZIP; 218 units permitted in Tallapoosa County in 2024 (0 in 5+ unit buildings).
• Tallapoosa County population projected at -22% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 59% 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.

Questions for listing agent

• It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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?
• 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.