4007 Lyndale Dr

Fort Payne, AL 35968

$289,900D

3 bd · 1.0 ba · 1,456 sqft · Built 1984 · SingleFamily · Active · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,086/mo
• Mortgage (P&I): −$1,520
• Tax + insurance: −$170
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $-833/mo
• Annual: $-9,998/yr
• Cap rate: 2.84%
• Cash-on-cash: -12.32%
• DSCR: 0.45
• 1% rule: 0.37%
• Cash to close: $81,172

Investor read

• This is a 3-bed/1.0-bath single-family listed at $290k.
• At list price, monthly cash flow is $-833 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (50.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (62.6% below list).
• It's been on market 134 days — a 12% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $109k (62.6% below list) — sets the bar for 1% rule.
• In year one you build about $31k of equity ($2k loan paydown + $29k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#86 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, amenities F, commute F.
• Fort Payne City (town): math 26% / reading 46% proficiency, ranked #41 of 129 in AL (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 47 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.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $195k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: 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

• 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 134 days. Have you received any prior offers? Is the seller open to a 63% 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 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?
• 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.