8484 County Road 191

Union, AL 35462

$59,900B

3 bd · 1.0 ba · 1,430 sqft · Built 1990 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,027/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$45
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $453/mo
• Annual: $5,431/yr
• Cap rate: 15.36%
• Cash-on-cash: 32.38%
• DSCR: 2.44
• 1% rule: 1.71%
• Cash to close: $16,772

Investor read

• This is a 3-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $453 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 54 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($414 loan paydown + $3k appreciation (4.7% local appreciation)).
• Location reads 50/100 on livability (#531 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, health & safety D, crime F.
• Greene County (rural): math 2% / reading 13% proficiency, ranked #129 of 129 in AL (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Eutaw Primary School (math 8% / reading 32%, grade F, #457 of 627 statewide, top 74%, 321 students, 78% FRL); Greene County High School (math 5% / reading 5%, grade F, #276 of 305 statewide, top 95%, 255 students, 84% FRL).
• Market conditions: 17 active listings in the ZIP; 4 units permitted in Greene County in 2024 (0 in 5+ unit buildings).
• Greene County population projected at -34% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/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 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.