2839 Highway 174

Argo, AL 35146

$49,900B-

2 bd · 2.0 ba · 950 sqft · Built 1972 · Manufactured · Coming Soon · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,414/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $772/mo
• Annual: $9,265/yr
• Cap rate: 24.86%
• Cash-on-cash: 66.31%
• DSCR: 3.95
• 1% rule: 2.83%
• Cash to close: $13,972

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $50k.
• At list price, monthly cash flow is $772 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#198 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• St Clair County (rural): math 21% / reading 52% proficiency, ranked #33 of 129 in AL (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Springville Elementary School (math 36% / reading 67%, grade C-, #110 of 627 statewide, top 18%, 978 students, 34% FRL); Springville Middle School (math 26% / reading 63%, grade D, #39 of 257 statewide, top 16%, 578 students, 41% FRL); Springville High School (math 37% / reading 32%, grade F, #47 of 305 statewide, top 17%, 766 students, 33% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: 172 active listings in the ZIP; solid renter incomes; 557 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).
• St. Clair County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $21k; list at $50k implies a 138% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.