120 Meadow Ridge Dr · Redland, AL 36093

$62,500

3 bd · None ba · 1,440 sqft · Manufactured public records · 70 Days on market

Built 1997 0.66 ac lot $43/sqft · 47% below area Est $118k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

Key facts

• 0.66 acre lot
• Parking
• Built 1997

Tags

• LARGE SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/?-bath manufactured listed at $62k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.
• Cap rate 28.1% vs local median 2.9% in Redland — 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 76/100 on livability (#10 in AL, #3,261 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Elmore County (town): math 27% / reading 54% proficiency, ranked #21 of 129 in AL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 167 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 92 units permitted in Elmore County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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.

Recommended offer $58,750 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 3.04% ✓
• Cap rate: 28.11%
• Cash-on-cash: 77.91%
• DSCR: 4.47
• GRM: 2.7

CMA / ARV

• ARV (median comp): $117,500
• List price: $62,500
• Delta: -46.81%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 77.9%
• Equity multiple: 4.56×
• Total profit: $62,220
• Equity at exit: $9,319

10-year hold

• IRR: 81.5%
• Equity multiple: 9.42×
• Total profit: $147,304
• Equity at exit: $5,404

Cash invested: $17,500 (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 36093

• Home prices YoY: -20.6%
• Active inventory: 167
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,900 medium
• Mortgage (P&I): −$328
• Tax from tax record: −$11 /mo · $133/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$399
• Net cashflow: $1,136

Break-even live

Break-even rent $462

Max offer price $62,500

Occupancy floor 35%

Sensitivity live

Price	-10% $1,171	-5% $1,154	+0% $1,136	+5% $1,118	+10% $1,026
Rent	-10% $986	-5% $1,061	+0% $1,136	+5% $1,211	+10% $1,286
Rate	-1.0pp $1,168	-0.5pp $1,152	base $1,136	+0.5pp $1,120	+1.0pp $1,103

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
369 Woodhaven Ln Wetumpka, AL	3.0	2.0	1678	$1,900	$1.13	14d	1	0.43mi

Listing history 7 events

1. 2026-05-13
   status Pending 895-char remark

   Show marketing remark (895 chars)

   Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

2. 2026-04-15
   price $62,500 895-char remark

   Show marketing remark (895 chars)

   Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

3. 2026-03-24
   status Active 895-char remark

   Show marketing remark (895 chars)

   Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

4. 2026-03-16
   status Pending 895-char remark

   Show marketing remark (895 chars)

   Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

5. 2026-02-24
   listed $78,000 Active 895-char remark

   Show marketing remark (895 chars)

   Looking for the right person to come and put some love into her. This is a must see!!! Located in a great neighborhood, this 3 bedroom 2 bath mobile home features an open concept kitchen dining and living great for entertaining. Large and spacious backyard get for those summer BBQ's. Needs a little TCL but will be a perfect home for someone. Property is owned by the US Dept. of HUD. Case #011-880850, Subject to appraisal-(IN) Insured. Seller makes no representations or warranties as to property condition. HUD Homes are Sold “As-Is. ” "EQUAL HOUSING OPPORTUNITY. " Seller may contribute up to 3% for buyer’s closing costs, upon buyer request. If schools are important, buyer to verify. All information and property details are deemed reliable but not guaranteed and should be independently verified if any person intends to engage in a transaction based upon it.

6. 2025-09-19
   price $44,900
7. 2025-05-20
   listed $49,900 Active

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

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $133 · $11/mo
• Projected year-2 tax: $256 · $21/mo
• Expected delta: +$123/yr (+$10/mo · 92.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,800
• − Mortgage interest: −$3,501
• − Property taxes: −$133
• − Insurance: −$312
• − Repairs & maintenance: −$1,824
• − Management: −$1,824
• − Depreciation: −$1,818
• Taxable income: $13,387
• Est. tax owed @ 24.0%: −$3,213
• After-tax cash flow: $10,420/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: Elmore County
• NCES district ID: 0101290
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 54% ▲ 3.00%
• Median HH income: $54,898
• Composite: 35.27/100
• National rank: #4974
• State rank: #21 of 129 in AL

Livability — Redland

• Score: 76/100
• State rank: #10
• US rank: #3261

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Redland, AL
• City population: 11,699
• Population (ZIP): 11,699

Population outlook (Elmore County) Hauer SSP2

• Today (2025): 85,154 people
• By 2030: 86,667 · +1.8%
• By 2040: 89,014 · +4.5%
• By 2050: 90,331 · +6.1%
• By 2075: 96,096 · +12.8%
• By 2100: 95,290 · +11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 12% Hispanic / Latino 5% Two or more races 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Elmore

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.6%
• 2008→2024 swing: -1.1pp toward R · 2008: -50.9pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+48.2 2016: R+52.0 2012: R+48.8 2008: R+50.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.69%
• Current HPI: 149.4012
• 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

+25.3% since first listed

7 events — show timeline

• 2026-05-13 Pending — MAAR
• 2026-04-15 Price Changed $62,500 MAAR
• 2026-03-24 Relisted — MAAR
• 2026-03-16 Pending — MAAR
• 2026-02-24 Listed $78,000 MAAR
• 2025-09-19 Price Changed $44,900 WAMLS
• 2025-05-20 Listed $49,900 WAMLS

Property tax history

+40.9%/yr

Latest (2025): $133 · -10.1% YoY. Source: county tax records.