1% rule quick check

The screen: monthly rent should be at least 1% of the all-in price. At 1%, a typically-financed rental has a shot at break-even cash flow; far below it, almost certainly not.

Purchase price (all-in, including rehab) ($)

Monthly rent ($)

0.93% — fails the 1% rule

Rent is under 1% of the price. Common in appreciating markets, but cash flow will be tight — the deal has to win on something other than monthly income.

Use it for what it is

Is the 1% rule still realistic?: In most large coastal metros, no — prices outran rents years ago. Plenty of Midwest and Southern markets, and Section 8-heavy submarkets, still clear it. That scarcity is the point: it's a filter, and most listings should fail a filter.
What does passing actually prove?: Only that the deal deserves real underwriting. Taxes, insurance, and condition can sink a 1.2% deal; run the cash-on-cash and DSCR numbers before believing anything.