184 Price Rd · Reform, AL 35481

$75,000

3 bd · 3.0 ba · 1,200 sqft · Manufactured · 5 Days on market

Built 1995 1.00 ac lot

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.5/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• Appreciation +6.7/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Welcome to this 3-bedroom, 3-bath mobile home nestled on a peaceful 1-acre lot in the heart of Reform, AL. Whether you're looking for a full-time residence or a quiet country retreat, this property has what you need to settle in and make it your own. Enjoy your mornings on the inviting front porch or unwind on the spacious back deck overlooking the open grounds. The generous 1-acre lot provides plenty of room to roam, garden, or simply enjoy the outdoors. Three outbuildings offer exceptional storage, workshop, or hobby space — a rare and valuable bonus. With a functional layout and solid bones, this property is full of potential. Schedule your showing today and discover the peaceful l

Key facts

• Three outbuildings
• Front porch
• Back deck

Tags

• FRONT PORCH
• BACK DECK
• 1 ACRE LOT
• THREE OUTBUILDINGS

Property features AI

Exterior

• Utilities: Septic tank
• Home design: Single-family residence; One level
• Construction: Vinyl siding and other construction materials; See remarks for roof details
• Exterior features: Outbuilding on the property

Interior

• Bathrooms: Three full bathrooms
• Heating & cooling: Has heating (type: Other); Has electric cooling (and other cooling)
• Interior features: Water heater included; No fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($997 rent vs $75k).

Location & tenants

• Location reads 61/100 on livability (#238 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute F.
• Pickens County (rural): math 7% / reading 31% proficiency, ranked #108 of 129 in AL (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Reform Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 209 students, 77% FRL); Pickens County High School (math 2% / reading 17%, grade F, #252 of 305 statewide, top 84%, 293 students, 72% FRL).
• Market conditions: 23 active listings in the ZIP; 2 units permitted in Pickens County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($519 loan paydown + $3k appreciation (3.4% local appreciation)).
• Pickens County population projected at +26% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.4% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $18k; list at $75k implies a 305% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 44% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.40%
• DSCR: 1.69
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.4% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.8%
• Equity multiple: 2.33×
• Total profit: $27,828
• Equity at exit: $35,440

10-year hold

• IRR: 23.4%
• Equity multiple: 4.48×
• Total profit: $73,075
• Equity at exit: $55,991

Cash invested: $21,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 35481

• Home prices YoY: 2.4%
• Active inventory: 23
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $269

Break-even live

Break-even rent $656

Max offer price $75,000

Occupancy floor 68%

Sensitivity live

Price	-10% $321	-5% $295	+0% $269	+5% $244	+10% $218
Rent	-10% $191	-5% $230	+0% $269	+5% $309	+10% $348
Rate	-1.0pp $307	-0.5pp $289	base $269	+0.5pp $250	+1.0pp $230

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-17
   status $75,000 Pending 5 DOM
2. 2026-06-16
   days on market $75,000 Active 5 DOM
3. 2026-06-15
   days on market $75,000 Active 4 DOM
4. 2026-06-14
   days on market $75,000 Active 2 DOM
5. 2026-06-12
   remarks 693-char remark
6. 2026-06-12
   listed $75,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 44% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,967
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$2,182
• Taxable income: $2,169
• Est. tax owed @ 24.0%: −$521
• After-tax cash flow: $2,713/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Pickens County
• NCES district ID: 0102730
• Math proficiency: 7% ▼ -19.00%
• Reading proficiency: 31% ▼ -7.00%
• Median HH income: $31,043
• Composite: 15.18/100
• National rank: #9342
• State rank: #108 of 129 in AL

Livability — Reform

• Score: 61/100
• State rank: #238
• US rank: #17525

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment F Housing A+ Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,909

Population outlook (Pickens County) Hauer SSP2

• Today (2025): 23,794 people
• By 2030: 25,224 · +6.0%
• By 2040: 27,833 · +17.0%
• By 2050: 30,077 · +26.4%
• By 2075: 34,120 · +43.4%
• By 2100: 35,388 · +48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 48% Black 46% Two or more races 4%
• Common ancestry: Slovak 1%
• Foreign-born: 0% · Canada
• Languages at home: 99% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Pickens

• 2024 margin: Strong R (+23.3) · D 38.1% · R 61.4%
• 2008→2024 swing: -15.0pp toward R · 2008: -8.3pp · 2024: -23.3pp
• All cycles: 2024: R+23.3 2020: R+16.3 2016: R+15.6 2012: R+7.0 2008: R+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.40%
• Current HPI: 143.9504
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+305.4% since first listed

2 events — show timeline

• 2026-06-11 Listed $75,000 WAMLS
• 2013-04-26 Sold (Public Records) $18,500 Public Records

Property tax history

+0.2%/yr

Latest (2025): $31 · +0.0% YoY. Source: county tax records.