254 Sasser Dr

Hamilton, AL 35570

$104,000C-

4 bd · 4.0 ba · 2,013 sqft · Built 2014 · Manufactured · Pending · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,055/mo
• Mortgage (P&I): −$545
• Tax + insurance: −$96
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $193/mo
• Annual: $2,311/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• 1% rule: 1.01%
• Cash to close: $29,120

Investor read

• This is a 4-bed/4.0-bath manufactured listed at $104k.
• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $104k).
• It's been on market 134 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $719 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#190 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment D-.
• Marion County (rural): math 20% / reading 48% proficiency, ranked #56 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hamilton Elementary School (math 17% / reading 57%, grade F, #267 of 627 statewide, top 45%, 634 students, 69% FRL); Hamilton Middle School (math 16% / reading 51%, grade F, #99 of 257 statewide, top 39%, 452 students, 66% FRL); Hamilton High School (math 17% / reading 32%, grade F, #118 of 305 statewide, top 45%, 466 students, 59% FRL).
• Market conditions: 93 active listings in the ZIP; 1 units permitted in Marion County in 2024 (0 in 5+ unit buildings).
• Marion County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $35k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 2.9% in Hamilton — 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.

Questions for listing agent

• It's been on market 134 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.