82 Church Street St

Carrollton, AL 35463

$139,900C

3 bd · 1.0 ba · 1,648 sqft · Built 1960 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,247/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$89
• HOA: −$0
• Vac / Maint / Mgmt: −$262
• Net cashflow: $162/mo
• Annual: $1,946/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.97%
• DSCR: 1.22
• 1% rule: 0.89%
• Cash to close: $39,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $162 ($2k/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 $125k (10.9% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $125k (10.9% below list) — sets the bar for 1% rule.
• In year one you build about $1k of equity ($967 loan paydown + $456 appreciation (0.3% local appreciation)).
• Location reads 56/100 on livability (#404 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety D, amenities F, commute F.
• Pickens County (rural): math 7% / reading 31% proficiency, ranked #108 of 129 in AL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Gordo Elementary School (math 21% / reading 52%, grade F, #281 of 627 statewide, top 45%, 558 students, 66% FRL); Gordo High School (math 4% / reading 35%, grade F, #169 of 305 statewide, top 59%, 513 students, 58% FRL).
• Market conditions: 18 active listings in the ZIP; 2 units permitted in Pickens County in 2024 (0 in 5+ unit buildings).
• Pickens County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; 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

• Built in 1960 — 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.