355 Main St

Vina, AL 35593

$80,000B+

3 bd · 1.0 ba · 1,325 sqft · Built 1900 · SingleFamily · Active · 370 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,087/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $306/mo
• Annual: $3,671/yr
• Cap rate: 10.88%
• Cash-on-cash: 16.39%
• DSCR: 1.73
• 1% rule: 1.36%
• Cash to close: $22,400

Investor read

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated good.
• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 370 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.7%/yr); year-one equity from $553 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#349 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment D, schools F, crime F.
• Franklin County (rural): math 17% / reading 36% proficiency, ranked #84 of 129 in AL (top 65%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 13 active listings in the ZIP; 15 units permitted in Franklin County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 2y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 370 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.