Is 983 Co Rd 1664 in Cullman, AL a good investment?

CashFlowRE grades it D with a 5.6% cap rate and $-107/mo modeled cash flow at a $199,900 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 983 Co Rd 1664?

The modeled cap rate is 5.6% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,613/month, from CashFlowRE's rent model.

D Composite 40.82

Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

Cash flow +10.4/30.0
ARV discount +10.1/15.0
Condition / age +5.0/5.0
Livability +3.6/5.0
Schools +3.2/10.0
1% rule +3.1/10.0
DSCR +3.0/10.0
Rent growth +2.5/5.0
Appreciation +0.0/10.0

$199,900

983 Co Rd 1664 · Cullman, AL 35058

3 bd · 2.0 ba · 1,313 sqft · SingleFamily · 187 Days on market

Built 2026 Excellent condition 0.80 ac lot $152/sqft · 6% below area Est $212k · 6% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Brand new construction in Fairview Community just 7 mins from Fairview schools & 18 mins from town Cullman. Home features: 3bedrooms 2baths, efficient one level home. Vinyl plank flooring throughout. Open living room/kitchen floor plan. Kitchen cabinets, counter tops, & tile backsplash & Island for a cooks dream, Buyer can pick from 3 colors. Buyer has option to pick Front door color also. Buyer has options to pick Black or Stainless Steel Appliances. Full length of the house side Patio to enjoy sitting on. To be completed within 6-8 weeks. 2-10 Warranty to be provided. 20 Gauge 50 KSI Steel Trusses & Outer Walls & Interior Walls. New Survey in Documents.

Key facts

Kitchen cabinets
Vinyl plank flooring
Tile backsplash

What this means for you Summary

Snapshot

This is a 3-bed/2.0-bath single-family listed at $200k. Condition is rated excellent.

Deal economics

At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
To cash-flow at today's rent, offer at most $184k (7.8% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (19.3% below list).
Recommended offer: $161k (19.3% below list) — sets the bar for 1% rule.
Cap rate 5.6% vs local median 3.9% in Cullman — 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.

Location & tenants

Location reads 71/100 on livability (#36 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, commute F, health & safety F.
Cullman County (rural): math 19% / reading 49% proficiency, ranked #49 of 129 in AL (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Fairview Elementary School (math 16% / reading 54%, grade F, #291 of 627 statewide, top 47%, 614 students, 66% FRL); Fairview Middle School (math 12% / reading 53%, grade F, #105 of 257 statewide, top 42%, 305 students, 64% FRL); Fairview High School (math 37% / reading 22%, grade F, #70 of 305 statewide, top 27%, 501 students, 61% FRL).
Market conditions: 213 active listings in the ZIP; 180 units permitted in Cullman County in 2024 (0 in 5+ unit buildings).
This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

It's been on market 187 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Recommended offer $161,270 (19.3% below list)

Questions for the listing agent

What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
It's been on market 187 days. Have you received any prior offers? Is the seller open to a 19% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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.
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.

Investment metrics

1% rule: 0.81% ✗
Cap rate: 5.65%
Cash-on-cash: -2.30%
DSCR: 0.90
GRM: 10.3

CMA / ARV

ARV (median comp): $212,339
List price: $199,900
Delta: -5.86%
Verdict: FAIR
Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
525 Co Rd 1664	0.29mi	3/2.0	1,379 (+5%)	3mo	$223,000	$162	76
445 Co Rd 1664	0.36mi	3/2.0	1,350 (+3%)	14mo	$209,900	$155	67
520 County Road 1663	0.41mi	3/2.0	1,431 (+9%)	8mo	$210,000	$147	59
740 Co Rd 1663	0.26mi	3/2.0	1,455 (+11%)	16mo	$238,000	$164	56
425 Co Rd 1664	0.38mi	3/2.0	1,430 (+9%)	16mo	$207,000	$145	54
365 Co Rd 1664	0.44mi	3/2.0	1,410 (+7%)	18mo	$203,000	$144	52
580 Co Rd 1663	0.39mi	3/2.0	1,502 (+14%)	8mo	$203,000	$135	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

IRR: -20.1%
Equity multiple: 0.30×
Total profit: $-39,210
Equity at exit: $29,806

10-year hold

IRR: -13.1%
Equity multiple: 0.23×
Total profit: $-42,855
Equity at exit: $17,284

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

Overall (STATE): 90 Strongly Landlord-Friendly
State Alabama: 90 Strongly Landlord-Friendly · R+15
County: — inherits STATE
City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 2 active · 1 under contract
Months of supply: 12.0 mo (8%/mo absorbed)
Median asking: $206,950 ($166/sqft)
Median days on market: 71 d
This list price: 50% of active listings are priced below it
ARV vs active asking: -2.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 35058

Home prices YoY: -17.5%
Active inventory: 213
Price-to-rent: 10.3×

Monthly cashflow live

Estimated rent: $1,613 medium interval (Pro) →
Mortgage (P&I): −$1,048
Tax est. 1.5%: −$250 /mo · $2,998/yr
Insurance: −$83
HOA: −$0
Lot rent: −$0
Vacancy / Maint / Mgmt: −$339
Net cashflow: $-107

Break-even live

Break-even rent $1,749

Max offer price $184,355

Occupancy floor —

Sensitivity live

Price	-10% $31	-5% $-38	+0% $-107	+5% $-177	+10% $-246
Rent	-10% $-235	-5% $-171	+0% $-107	+5% $-44	+10% $20
Rate	-1.0pp $-7	-0.5pp $-57	base $-107	+0.5pp $-159	+1.0pp $-212

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

Down payment: $49,975
Closing costs: $5,997
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Property features AI

Exterior

Utilities: Septic tank
Home design: Single-family residential property
Construction: Above-grade finished area of about 1,313
Exterior features: Lot dimensions approximately 156.67 x 229.36 x 156.67 x 224Approximately 0.8-acre lotFrontage about 156.67 feet

Interior

Bedrooms: 3 bedrooms on the main level
Bathrooms: 2 full bathrooms
Heating & cooling: Central heatingCentral air conditioning
Interior features: 7 total rooms

Listing history 50 events

2026-11-08

days on market $199,900 Active 187 DOM
2026-11-07

days on market $199,900 Active 186 DOM
2026-11-06

days on market $199,900 Active 185 DOM
2026-11-05

days on market $199,900 Active 184 DOM
2026-11-04

days on market $199,900 Active 183 DOM
2026-11-02

days on market $199,900 Active 181 DOM
2026-11-01

days on market $199,900 Active 180 DOM
2026-10-31

days on market $199,900 Active 179 DOM
2026-10-30

days on market $199,900 Active 178 DOM
2026-10-29

days on market $199,900 Active 177 DOM
2026-10-28

days on market $199,900 Active 176 DOM
2026-10-27

days on market $199,900 Active 175 DOM
2026-10-26

days on market $199,900 Active 174 DOM
2026-10-25

days on market $199,900 Active 173 DOM
2026-10-24

days on market $199,900 Active 172 DOM
2026-10-23

days on market $199,900 Active 171 DOM
2026-10-22

days on market $199,900 Active 170 DOM
2026-10-22

days on market $199,900 Active 169 DOM
2026-10-20

days on market $199,900 Active 168 DOM
2026-10-19

days on market $199,900 Active 167 DOM
2026-10-18

days on market $199,900 Active 166 DOM
2026-10-17

days on market $199,900 Active 165 DOM
2026-10-16

days on market $199,900 Active 164 DOM
2026-10-15

days on market $199,900 Active 163 DOM
2026-10-14

days on market $199,900 Active 162 DOM
2026-10-14

days on market $199,900 Active 161 DOM
2026-10-12

days on market $199,900 Active 160 DOM
2026-10-11

days on market $199,900 Active 159 DOM
2026-10-10

days on market $199,900 Active 158 DOM
2026-10-09

days on market $199,900 Active 157 DOM
2026-10-08

days on market $199,900 Active 156 DOM
2026-10-07

days on market $199,900 Active 155 DOM
2026-10-06

days on market $199,900 Active 154 DOM
2026-10-05

days on market $199,900 Active 153 DOM
2026-10-04

days on market $199,900 Active 152 DOM
2026-10-03

days on market $199,900 Active 151 DOM
2026-10-02

days on market $199,900 Active 150 DOM
2026-10-01

days on market $199,900 Active 149 DOM
2026-09-30

days on market $199,900 Active 148 DOM
2026-09-29

days on market $199,900 Active 147 DOM
2026-09-28

days on market $199,900 Active 146 DOM
2026-09-27

days on market $199,900 Active 145 DOM
2026-09-26

days on market $199,900 Active 144 DOM
2026-09-25

days on market $199,900 Active 143 DOM
2026-09-24

days on market $199,900 Active 142 DOM
2026-09-23

days on market $199,900 Active 141 DOM
2026-09-20

days on market $199,900 Active 138 DOM
2026-09-18

days on market $199,900 Active 136 DOM
2026-09-17

days on market $199,900 Active 135 DOM
2026-09-16

days on market $199,900 Active 134 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $19,352
− Mortgage interest: −$11,198
− Property taxes: −$2,998
− Insurance: −$1,000
− Repairs & maintenance: −$1,548
− Management: −$1,548
− Depreciation: −$5,815
Taxable loss: −$4,755

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$1,141
After-tax cash flow: $-148/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 4 photos

Excellent 100/100 None rehab

This is a brand new construction home with no repairs or maintenance needed. The highest-ROI updates include installing kitchen, bathroom, HVAC, and exterior finishes to complete the living space and enhance curb appeal.

Value-add opportunities

Both Install kitchen cabinets, countertops, and tile backsplash — Enhances functionality and aesthetic appeal for both resale and rental. ↑
Both Install bathroom fixtures and finishes — Completes the living space and adds value for both resale and rental. ↑
Both Install HVAC and mechanical systems — Ensures comfort and energy efficiency, attracting buyers and renters. ↑
Both Install flooring and drywall — Completes the living space and adds value for both resale and rental. ↑
Both Install windows and siding — Enhances energy efficiency and curb appeal, attracting buyers and renters. ↑
Both Landscaping and curb appeal — Improves curb appeal and adds value for both resale and rental. ↑

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Fairview Elementary School F AL #291/627 Nat'l #22,904/41,679 Middle Fairview Middle School F AL #105/257 Nat'l #8,188/14,009 High Fairview High School F AL #70/305 Nat'l #11,215/17,239

Schools (NCES district)

District: Cullman County
NCES district ID: 0101020
Math proficiency: 19% ▼ -35.00%
Reading proficiency: 49% ▲ 1.00%
Median HH income: $39,449
Composite: 28.39/100
National rank: #6767
State rank: #49 of 129 in AL

B Composite livability gradescore 71/100

Livability — Cullman

Score: 71/100
State rank: #36
US rank: #6789

Category grades

Amenities C- Commute F Cost of living A+ Crime C+ Employment C Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

County: Cullman County · 84,522 people
City population: 34,660
Metro: Cullman, AL
Population (ZIP): 11,545
Household income: $62,146
Rent vs Own: 25.6% rent · 74.4% own
Severe rent burden: 8% of renters

Population outlook (Cullman County) Hauer SSP2

Today (2025): 84,522 people
By 2030: 85,402 · +1.0%
By 2040: 86,152 · +1.9%
By 2050: 85,202 · +0.8%
By 2075: 79,679 · -5.7%
By 2100: 66,943 · -20.8%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Predominantly White (82%)
Race & ethnicity: White 82% Hispanic / Latino 10% Two or more races 4% Asian 4% Native American 1%
Hispanic origin (detail): Mexican 9%
Languages at home: 89% English-only · Spanish 9% Tagalog/Filipino 1% Vietnamese 1%

Political lean MEDSL · Cullman

2024 margin: Solid R (+80.5) · D 9.4% · R 89.9%
2008→2024 swing: -15.3pp toward R · 2008: -65.2pp · 2024: -80.5pp
All cycles: 2024: R+80.5 2020: R+77.4 2016: R+77.8 2012: R+69.5 2008: R+65.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -53.88%
Current HPI: 254.3583
Rent YoY: —
Metro: Cullman, AL
State GDP YoY: ▲ 2.94%
F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
Financial Services	1	$8B
#317 Regions Financial Birmingham $8.2B
Healthcare	1	$5B
#300 Encompass Health Birmingham $5.3B

Price history

1 event — show timeline

2026-05-05 Listed $209,900 SAARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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