503 Dusy St · Dothan, AL 36301

$157,000

3 bd · 2.0 ba · 2,110 sqft · MultiFamily public records · 106 Days on market

Built 1936 0.27 ac lot $74/sqft · 59% above area

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming 1936 home in the heart of Dothan offering 2,110 sq ft, 3 bedrooms, 2 baths, and income potential. The main level features two bedrooms and one full bath with shower. A double-entry foyer welcomes you into the living space with beautiful French doors, a cozy fireplace with keeping room, and a walk-through dining room leading to a spacious kitchen with beautiful cabinetry and a charming antique ironing board near the pantry. Bedrooms are located down the hallway to the right. Off the kitchen you'll find a laundry room and convenient drop zone. The upstairs suite has two separate exterior entrances and is currently tenant occupied at $695 per month. This spacious suite accommodates a king-size bed and includes additional living space, drop zone, U-shaped kitchen with dining area, and a full bath with tub, shower, and laundry. Enjoy the covered back porch, single-car carport, extra-large shop, and fully fenced backyard with gate. Character, versatility, and rental income all in one property.

Key facts

• Convenient drop zone
• Laundry room
• French doors

Tags

• DOUBLE-ENTRY FOYER
• FRENCH DOORS
• COZY FIREPLACE
• WALK-THROUGH DINING ROOM
• LAUNDRY ROOM
• CONVENIENT DROP ZONE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $157k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $143k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 4.4% in Dothan — 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.

Location & tenants

• Location reads 64/100 on livability (#146 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D, crime F.
• Dothan City (urban): math 19% / reading 39% proficiency, ranked #73 of 129 in AL (top 57%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 410 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Houston County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $44k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,870 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.55%
• DSCR: 1.56
• GRM: 7.2

CMA / ARV

• ARV (median comp): $98,916
• List price: $157,000
• Delta: 58.72%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1100 Stadium St	0.64mi	3/3.0	1,964 (-7%)	12mo	$160,000	$81	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $3,786
• Equity at exit: $23,409

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $40,807
• Equity at exit: $13,574

Cash invested: $43,960 (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 36301

• Home prices YoY: -24.9%
• Active inventory: 410
• Price-to-rent: 13.9×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$823
• Tax from tax record: −$79 /mo · $950/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $460

Break-even live

Break-even rent $1,225

Max offer price $157,000

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$938
1× unit	1	1	$869
Total (2 units)			$1,807

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 W Lafayette St Dothan, AL	3.0	1.0	1459	$995	$0.68	43d	1	0.16mi
803 E Adams St Dothan, AL	4.0	2.0	1564	$1,350	$0.86	43d	1	0.90mi
1205 Magnolia Ave Dothan, AL	3.0	2.0	1916	$1,900	$0.99	43d	1	1.16mi
1000 Fairlane Dr Dothan, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	1.23mi
2004 Roebuck St Dothan, AL	3.0	1.5	1609	$1,175	$0.73	43d	1	1.47mi

Listing history 45 events

1. 2026-06-19
   days on market $157,000 Active 106 DOM
2. 2026-06-18
   days on market $157,000 Active 105 DOM
3. 2026-06-17
   days on market $157,000 Active 104 DOM
4. 2026-06-16
   pricedays on market $157,000 Active 103 DOM
5. 2026-06-15
   days on market $159,000 Active 102 DOM
6. 2026-06-14
   days on market $159,000 Active 100 DOM
7. 2026-06-12
   days on market $159,000 Active 99 DOM
8. 2026-06-09
   days on market $159,000 Active 96 DOM
9. 2026-06-08
   days on market $159,000 Active 95 DOM
10. 2026-06-07
    days on market $159,000 Active 94 DOM
11. 2026-06-05
    days on market $159,000 Active 91 DOM
12. 2026-06-03
    days on market $159,000 Active 90 DOM
13. 2026-06-02
    days on market $159,000 Active 89 DOM
14. 2026-06-01
    days on market $159,000 Active 88 DOM
15. 2026-05-31
    days on market $159,000 Active 87 DOM
16. 2026-05-30
    days on market $159,000 Active 86 DOM
17. 2026-04-13
    status Active 1011-char remark

    Show marketing remark (1011 chars)

    Charming 1936 home in the heart of Dothan offering 2,110 sq ft, 3 bedrooms, 2 baths, and income potential. The main level features two bedrooms and one full bath with shower. A double-entry foyer welcomes you into the living space with beautiful French doors, a cozy fireplace with keeping room, and a walk-through dining room leading to a spacious kitchen with beautiful cabinetry and a charming antique ironing board near the pantry. Bedrooms are located down the hallway to the right. Off the kitchen you'll find a laundry room and convenient drop zone. The upstairs suite has two separate exterior entrances and is currently tenant occupied at $695 per month. This spacious suite accommodates a king-size bed and includes additional living space, drop zone, U-shaped kitchen with dining area, and a full bath with tub, shower, and laundry. Enjoy the covered back porch, single-car carport, extra-large shop, and fully fenced backyard with gate. Character, versatility, and rental income all in one property.

18. 2026-03-28
    historical Active Under Contract 1011-char remark

    Show marketing remark (1011 chars)

    Charming 1936 home in the heart of Dothan offering 2,110 sq ft, 3 bedrooms, 2 baths, and income potential. The main level features two bedrooms and one full bath with shower. A double-entry foyer welcomes you into the living space with beautiful French doors, a cozy fireplace with keeping room, and a walk-through dining room leading to a spacious kitchen with beautiful cabinetry and a charming antique ironing board near the pantry. Bedrooms are located down the hallway to the right. Off the kitchen you'll find a laundry room and convenient drop zone. The upstairs suite has two separate exterior entrances and is currently tenant occupied at $695 per month. This spacious suite accommodates a king-size bed and includes additional living space, drop zone, U-shaped kitchen with dining area, and a full bath with tub, shower, and laundry. Enjoy the covered back porch, single-car carport, extra-large shop, and fully fenced backyard with gate. Character, versatility, and rental income all in one property.

19. 2026-03-05
    listed $159,000 Active 1011-char remark

    Show marketing remark (1011 chars)

    Charming 1936 home in the heart of Dothan offering 2,110 sq ft, 3 bedrooms, 2 baths, and income potential. The main level features two bedrooms and one full bath with shower. A double-entry foyer welcomes you into the living space with beautiful French doors, a cozy fireplace with keeping room, and a walk-through dining room leading to a spacious kitchen with beautiful cabinetry and a charming antique ironing board near the pantry. Bedrooms are located down the hallway to the right. Off the kitchen you'll find a laundry room and convenient drop zone. The upstairs suite has two separate exterior entrances and is currently tenant occupied at $695 per month. This spacious suite accommodates a king-size bed and includes additional living space, drop zone, U-shaped kitchen with dining area, and a full bath with tub, shower, and laundry. Enjoy the covered back porch, single-car carport, extra-large shop, and fully fenced backyard with gate. Character, versatility, and rental income all in one property.

20. 2025-07-17
    historical $1,369
21. 2025-07-13
    price $1,369
22. 2025-07-07
    price $1,250
23. 2025-07-02
    listed $1,369
24. 2025-05-05
    price $157,000
25. 2025-03-28
    status Active
26. 2025-03-08
    historical Active Under Contract
27. 2025-02-12
    price $159,000
28. 2025-02-04
    price $165,000
29. 2025-01-03
    status Active
30. 2025-01-03
    price $173,000
31. 2024-12-08
    historical
32. 2024-11-03
    listed $175,000 Active
33. 2023-03-15
    soldstatus $145,000
34. 2023-03-14
    soldstatus $145,000 Closed
35. 2023-02-21
    historical Active Under Contract
36. 2023-01-02
    listed $139,000 Active
37. 2022-11-04
    price $144,000
38. 2022-10-20
    status Active
39. 2022-08-29
    historical Active Under Contract
40. 2022-08-15
    price $146,000
41. 2022-05-26
    listed $147,500 Active
42. 2018-08-15
    soldstatus $30,000
43. 2018-08-15
    soldstatus $30,000
44. 2017-11-08
    listed $37,900
45. 2017-11-08
    listed $37,900

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

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $950 · $79/mo
• Projected year-2 tax: $950 · $79/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,684
• − Mortgage interest: −$8,794
• − Property taxes: −$950
• − Insurance: −$785
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$4,567
• Taxable income: $3,117
• Est. tax owed @ 24.0%: −$748
• After-tax cash flow: $4,767/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: Dothan City
• NCES district ID: 0101230
• Math proficiency: 19% ▼ -23.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $42,279
• Composite: 24.56/100
• National rank: #7640
• State rank: #73 of 129 in AL

Livability — Dothan

• Score: 64/100
• State rank: #146
• US rank: #13662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dothan, AL
• City population: 47,783
• Population (ZIP): 38,627

Population outlook (Houston County) Hauer SSP2

• Today (2025): 110,280 people
• By 2030: 112,668 · +2.2%
• By 2040: 116,149 · +5.3%
• By 2050: 117,805 · +6.8%
• By 2075: 118,577 · +7.5%
• By 2100: 110,940 · +0.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Houston

• 2024 margin: Solid R (+47.8) · D 25.7% · R 73.5%
• 2008→2024 swing: -7.0pp toward R · 2008: -40.8pp · 2024: -47.8pp
• All cycles: 2024: R+47.8 2020: R+42.7 2016: R+47.6 2012: R+40.3 2008: R+40.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -53.46%
• Current HPI: 161.1212
• 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

+319.5% since first listed

29 events — show timeline

• 2026-04-13 Relisted — SAMLS
• 2026-03-28 Contingent — SAMLS
• 2026-03-05 Listed $159,000 SAMLS
• 2025-07-17 Rental Removed $1,369 REDFIN
• 2025-07-13 Price Changed $1,369 REDFIN
• 2025-07-07 Price Changed $1,250 REDFIN
• 2025-07-02 Listed for Rent $1,369 REDFIN
• 2025-05-05 Price Changed $157,000 WBR
• 2025-03-28 Relisted — WBR
• 2025-03-08 Contingent — WBR
• 2025-02-12 Price Changed $159,000 WBR
• 2025-02-04 Price Changed $165,000 WBR
• 2025-01-03 Relisted — WBR
• 2025-01-03 Price Changed $173,000 WBR
• 2024-12-08 Delisted — WBR
• 2024-11-03 Listed $175,000 WBR
• 2023-03-15 Sold (Public Records) $145,000 Public Records
• 2023-03-14 Sold (MLS) $145,000 SAMLS
• 2023-02-21 Contingent — SAMLS
• 2023-01-02 Listed $139,000 SAMLS
• 2022-11-04 Price Changed $144,000 SAMLS
• 2022-10-20 Relisted — SAMLS
• 2022-08-29 Contingent — SAMLS
• 2022-08-15 Price Changed $146,000 SAMLS
• 2022-05-26 Listed $147,500 SAMLS
• 2018-08-15 Sold (MLS) $30,000 MAAR
• 2018-08-15 Sold (MLS) $30,000 WBR
• 2017-11-08 Listed $37,900 MAAR
• 2017-11-08 Listed $37,900 WBR

Property tax history

+8.8%/yr

Latest (2025): $950 · +3.0% YoY. Source: county tax records.