800 Pecanwood

Anniston, AL 36207

$147,000D+

3 bd · 1.5 ba · 1,406 sqft · Built 1976 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,242/mo
• Mortgage (P&I): −$771
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$261
• Net cashflow: $78/mo
• Annual: $934/yr
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• 1% rule: 0.85%
• Cash to close: $41,160

Investor read

• This is a 3-bed/1.5-bath single-family listed at $147k.
• At list price, monthly cash flow is $78 ($934/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 $124k (15.5% below list).
• It's been on market 32 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $124k (15.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#348 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Anniston City (urban): math 2% / reading 12% proficiency, ranked #128 of 129 in AL (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Golden Springs Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 414 students, 78% FRL); Anniston Middle School (math 2% / reading 0%, grade F, #257 of 257 statewide, top 100%, 393 students, 91% FRL); Anniston High School (math 2% / reading 12%, grade F, #265 of 305 statewide, top 89%, 466 students, 86% FRL) — zoned schools at 85% FRL track the district average.
• Market conditions: 128 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 135 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $26k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 5.1% in Anniston — 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.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
• Built in 1976 — 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 D-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.