3361 County Road 112

Sylvania, AL 35988

$124,990C-

4 bd · 1.0 ba · 2,098 sqft · Built 1980 · SingleFamily · Active · 235 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,237/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$208
• HOA: −$0
• Vac / Maint / Mgmt: −$260
• Net cashflow: $114/mo
• Annual: $1,366/yr
• Cap rate: 7.39%
• Cash-on-cash: 3.90%
• DSCR: 1.17
• 1% rule: 0.99%
• Cash to close: $34,997

Investor read

• This is a 4-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $114 ($1k/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 (1.0% below list).
• It's been on market 235 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($864 loan paydown + $5k appreciation (4.3% local appreciation)).
• Location reads 63/100 on livability (#189 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: schools D, employment D, amenities F.
• Dekalb County (rural): math 18% / reading 37% proficiency, ranked #82 of 129 in AL (top 64%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 13 active listings in the ZIP; 49 units permitted in DeKalb County in 2024 (0 in 5+ unit buildings).
• DeKalb County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 9 sale attempts since 2y ago; this cycle's ask has dropped $41k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.