30 Pine St

Eclectic, AL 36024

$230,000F

3 bd · 2.0 ba · 612 sqft · Built 1935 · SingleFamily · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,132/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$134
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $-446/mo
• Annual: $-5,353/yr
• Cap rate: 3.97%
• Cash-on-cash: -8.31%
• DSCR: 0.63
• 1% rule: 0.49%
• Cash to close: $64,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $230k.
• At list price, monthly cash flow is $-446 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (34.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (50.8% below list).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $113k (50.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 57/100 on livability (#380 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Elmore County (town): math 27% / reading 54% proficiency, ranked #21 of 129 in AL (top 16%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eclectic Elementary School (math 32% / reading 57%, grade F, #171 of 627 statewide, top 31%, 665 students, 54% FRL); Eclectic Middle School (math 24% / reading 51%, grade F, #71 of 257 statewide, top 28%, 457 students, 56% FRL); Elmore County High School (math 32% / reading 47%, grade F, #34 of 305 statewide, top 12%, 516 students, 48% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 82 active listings in the ZIP; 92 units permitted in Elmore County in 2024 (0 in 5+ unit buildings).
• Elmore County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 8 sale attempts since 26y 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 $125k; list at $230k implies a 84% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.0% vs local median 2.6% in Eclectic — 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

• 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?
• Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.