4064 Jordon Ave

Cowarts, AL 36321

$116,000B+

1 bd · 1.5 ba · 900 sqft · Built 2006 · SingleFamily · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,911/mo
• Mortgage (P&I): −$608
• Tax + insurance: −$68
• HOA: −$0
• Vac / Maint / Mgmt: −$401
• Net cashflow: $834/mo
• Annual: $10,005/yr
• Cap rate: 14.92%
• Cash-on-cash: 30.80%
• DSCR: 2.37
• 1% rule: 1.65%
• Cash to close: $32,480

Investor read

• This is a 1-bed/1.5-bath single-family listed at $116k.
• At list price, monthly cash flow is $834 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• It's been on market 54 days — a 3% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($802 loan paydown + $3k appreciation (2.7% local appreciation)).
• Location reads 66/100 on livability (#112 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, health & safety D, amenities F.
• Houston County (rural): math 25% / reading 49% proficiency, ranked #38 of 129 in AL (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ashford Elementary School (math 21% / reading 51%, grade F, #286 of 627 statewide, top 46%, 625 students, 68% FRL); Ashford Middle School (293 students, 67% FRL); Ashford High School (math 9% / reading 32%, grade F, #159 of 305 statewide, top 53%, 399 students, 62% FRL).
• Market conditions: 16 active listings in the ZIP; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).
• Houston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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?
• 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.