Unit Unit F36

Troy, AL 36081

$56,000B-

4 bd · 2.0 ba · 1,024 sqft · Built 2026 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,372/mo
• Mortgage (P&I): −$294
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $697/mo
• Annual: $8,362/yr
• Cap rate: 21.23%
• Cash-on-cash: 53.33%
• DSCR: 3.37
• 1% rule: 2.45%
• Cash to close: $15,680

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $56k. Condition is rated good.
• At list price, monthly cash flow is $697 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $56k).
• It's been on market 24 days — a 2% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $55k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $387 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#148 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B; Watch: amenities C-, schools D, crime F.
• Pike County (rural): math 19% / reading 44% proficiency, ranked #68 of 129 in AL (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 26 active listings in the ZIP; lower-income renter base — watch delinquency; 42 units permitted in Pike County in 2024 (0 in 5+ unit buildings).
• Pike County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 97% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 21.2% vs local median 2.0% in Troy — 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.
• This rent runs 37% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• 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.