344 Depot St

Midway, AL 36053

$91,500C

2 bd · 1.0 ba · 1,120 sqft · Built 1958 · SingleFamily · Active · 459 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $988/mo
• Mortgage (P&I): −$480
• Tax + insurance: −$152
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $148/mo
• Annual: $1,780/yr
• Cap rate: 8.24%
• Cash-on-cash: 6.95%
• DSCR: 1.31
• 1% rule: 1.08%
• Cash to close: $25,620

Investor read

• This is a 2-bed/1.0-bath single-family listed at $92k. Condition is rated fair.
• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($988 rent vs $92k).
• It's been on market 459 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($633 loan paydown + $543 appreciation (0.6% local appreciation)).
• Location reads 41/100 on livability (#568 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Bullock County (town): math 18% / reading 17% proficiency, ranked #130 of 133 in AL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 85% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 6 active listings in the ZIP.
• Bullock County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 8 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (0.6% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 80% 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 459 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1958 — 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and worn
• Moderate: bathroom fixtures — outdated and worn
• Moderate: landscaping — overgrown and needs trimming