2965 Weiss Lake Blvd · Leesburg, AL 35983

$55,000

3 bd · 2.0 ba · 1,280 sqft · Manufactured public records · 8 Days on market

Built 1998 1.07 ac lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable SW Mobile Home on Approximately 1 Acre in Leesburg This flat lot boasts a workshop garage, storage space, and a carport. Additionally, there is a fenced area in the back. The 3-bedroom, 2-bathroom home showcases a split floor plan, a spacious front porch, and a lovely mountain view. This property is conveniently located near access to Weiss Lake.

Key facts

• Fenced area
• Front porch
• Carport

Tags

• WORKSHOP GARAGE
• STORAGE SPACE
• CARPORT
• FENCED AREA
• FRONT PORCH
• MOUNTAIN VIEW

Property features AI

Finance

• Other: Lot is approximately 1.07 acres (about 46,609 sq ft), dimensions 105 x 441.52 x 105 x 441.52; Subdivision: John Tillery; Directions: From Walmart take 411S to Leesburg; through the red light, property is on the right
• HOA & community: No homeowners association

Exterior

• Parking: Detached one-car garage
• Utilities: Septic tank
• Home design: Manufactured / mobile home; Built in 1998; Residential property; Single-story (manufactured home)
• Construction: Manufactured construction
• Exterior features: Detached building; Property has a view; Covered front porch

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Window cooling units (2)
• Interior features: Crawl space foundation; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $55k).

Location & tenants

• Location reads 60/100 on livability (#310 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Cherokee County (rural): math 21% / reading 45% proficiency, ranked #58 of 129 in AL (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 55 active listings in the ZIP; 39 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($380 loan paydown + $5k appreciation (8.4% local appreciation)).
• Cherokee County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (8.4% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

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. 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.
4. 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.
5. 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: 1.77% ✓
• Cap rate: 14.79%
• Cash-on-cash: 30.34%
• DSCR: 2.35
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

8.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.9%
• Equity multiple: 4.17×
• Total profit: $48,811
• Equity at exit: $43,209

10-year hold

• IRR: 40.0%
• Equity multiple: 9.01×
• Total profit: $123,307
• Equity at exit: $87,166

Cash invested: $15,400 (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 35983

• Home prices YoY: 4.0%
• Active inventory: 55
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $389

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 55%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $55,000 Active 8 DOM
2. 2026-06-18
   days on market $55,000 Active 7 DOM
3. 2026-06-17
   days on market $55,000 Active 6 DOM
4. 2026-06-16
   days on market $55,000 Active 5 DOM
5. 2026-06-15
   days on market $55,000 Active 4 DOM
6. 2026-06-14
   days on market $55,000 Active 2 DOM
7. 2026-06-13
   remarks 359-char remark
8. 2026-06-13
   listed $55,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,688
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$1,600
• Taxable income: $4,037
• Est. tax owed @ 24.0%: −$969
• After-tax cash flow: $3,704/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: Cherokee County
• NCES district ID: 0100630
• Math proficiency: 21% ▼ -25.00%
• Reading proficiency: 45% ▲ 4.00%
• Median HH income: $37,824
• Composite: 27.43/100
• National rank: #6965
• State rank: #58 of 129 in AL

Livability — Leesburg

• Score: 60/100
• State rank: #310
• US rank: #19292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leesburg, AL
• City population: 3,782
• Population (ZIP): 3,782

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 24,929 people
• By 2030: 24,177 · -3.0%
• By 2040: 22,411 · -10.1%
• By 2050: 20,595 · -17.4%
• By 2075: 17,025 · -31.7%
• By 2100: 13,700 · -45.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Slovak 2% Italian 1% German 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+75.5) · D 12.0% · R 87.5%
• 2008→2024 swing: -24.3pp toward R · 2008: -51.2pp · 2024: -75.5pp
• All cycles: 2024: R+75.5 2020: R+72.8 2016: R+69.4 2012: R+55.0 2008: R+51.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.38%
• Current HPI: 217.423
• 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

1 event — show timeline

• 2026-06-11 Listed $55,000 VMLS

Property tax history

+4.1%/yr

Latest (2025): $77 · +31.7% YoY. Source: county tax records.