603 Falcon Dr · Dothan, AL 36301

$115,000

3 bd · 1.0 ba · 1,423 sqft · SingleFamily · 21 Days on market

Built 1970 Fair condition 0.28 ac lot $81/sqft · 10% below area Est $128k · 10% under

---

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 +20.0/30.0
• ARV discount +11.9/15.0
• DSCR +6.3/10.0
• 1% rule +5.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Come take a look at this quaint full brick home conveniently located just blocks away from Southeast Health and ACOM. . Spacious yard fully fenced in the back with a great covered patio to enjoy your morning coffee!! Breakfast bar in the kitchen overlooking into the spacious dining room. This home is just waiting for you and your perfect touch. . The ROOF and HVAC have recently been updated .

Key facts

• Spacious yard
• Covered patio
• Updated roof

Tags

• FULL BRICK HOME
• SPACIOUS YARD
• COVERED PATIO
• BREAKFAST BAR
• UPDATED ROOF
• UPDATED HVAC

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One level
• Construction: Brick construction
• Exterior features: Covered patio/porch; Storage structure; Waterfront property

Interior

• Kitchen: Range; Range hood; Refrigerator
• Flooring: Carpet; Tile; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Eat-in kitchen; Aluminum frame windows
• Laundry & utility: Laundry located inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $795 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• 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 $113,275 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.76%
• Cash-on-cash: 5.25%
• DSCR: 1.23
• GRM: 8.1

CMA / ARV

• ARV (median comp): $127,518
• List price: $115,000
• Delta: -9.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1003 Torino Dr	0.10mi	3/2.0	1,420 (-0%)	8mo	$127,000	$89	85
610 Pinto Dr	0.30mi	3/2.0	1,381 (-3%)	2mo	$143,000	$104	75
903 Dixie Dr	0.50mi	3/2.0	1,418 (-0%)	4mo	$195,000	$138	69
1603 Squire Ct	0.07mi	4/2.0 (+1)	1,566 (+10%)	3mo	$170,000	$109	68
305 Cyclone Cir	0.52mi	3/2.0	1,404 (-1%)	2mo	$154,500	$110	68
209 Pearl St	0.63mi	3/2.0	1,432 (+1%)	0mo	$500,000	$349	65
509 Lagrand Dr	0.14mi	3/2.0	1,215 (-15%)	10mo	$110,000	$91	57
138 Radford Cir	0.45mi	3/2.0	1,621 (+14%)	3mo	$179,000	$110	49
166 Radford Cir	0.49mi	3/2.0	1,240 (-13%)	4mo	$145,000	$117	49
332 Darlington Cir	0.54mi	3/2.0	1,227 (-14%)	1mo	$170,000	$139	47
142 Tree Crest Dr	0.70mi	3/2.0	1,261 (-11%)	1mo	$179,000	$142	44
1204 Judson St	0.64mi	3/2.0	1,216 (-14%)	5mo	$132,000	$109	37

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: -8.1%
• Equity multiple: 0.70×
• Total profit: $-9,645
• Equity at exit: $17,147

10-year hold

• IRR: 1.4%
• Equity multiple: 1.10×
• Total profit: $3,226
• Equity at exit: $9,943

Cash invested: $32,200 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $141

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 83%

Sensitivity live

Price	-10% $220	-5% $181	+0% $141	+5% $101	+10% $61
Rent	-10% $47	-5% $94	+0% $141	+5% $188	+10% $234
Rate	-1.0pp $199	-0.5pp $170	base $141	+0.5pp $111	+1.0pp $81

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
306 Mustang Dr Dothan, AL	3.0	1.0	1301	$1,050	$0.81	44d	1	0.21mi
1581 E Selma St Aurora, AL	3.0	1.5	1426	$1,149	$0.81	44d	1	0.23mi
1009 Jonathan St Dothan, AL	3.0	1.5	1318	$1,300	$0.99	44d	1	0.32mi
1301 Alexander Dr Dothan, AL	1.0–2.0	1.0–1.5	833	$795	$0.95	44d	1	0.33mi
1000 Fairlane Dr Dothan, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.42mi
131 Hedstrom Dr Greenwood, AL	3.0	2.0	1526	$1,400	$0.92	44d	1	0.43mi
151 Radford Cir Dothan, AL	2.0	1.5	1171	$1,400	$1.20	44d	1	0.51mi
806 S Ussery St Dothan, AL	3.0	1.0	934	$895	$0.96	44d	1	1.17mi
105 St Lawrence Dr Dothan, AL	2.0	2.0	1580	$1,500	$0.95	44d	1	1.24mi
2211 Shannondoah Dr Dothan, AL	3.0	2.0	1409	$1,450	$1.03	44d	1	1.49mi

Listing history 7 events

1. 2026-06-03
   days on market $115,000 Active 21 DOM
2. 2026-06-02
   days on market $115,000 Active 20 DOM
3. 2026-06-01
   days on market $115,000 Active 19 DOM
4. 2026-05-31
   days on market $115,000 Active 18 DOM
5. 2026-05-30
   days on market $115,000 Active 17 DOM
6. 2026-05-14
   listed $115,000 Active 396-char remark
7. 2026-05-13
   listed $115,000 Active 370-char remark

ⓘ 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 3/10 Moderate
• 🌡 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: $14,212
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − Depreciation: −$3,345
• Taxable loss: −$149
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $1,726/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.

Condition & rehab AI · 30 photos

Fair 45/100 Moderate rehab

This home is in fair condition with moderate repairs needed, particularly in the kitchen and bathrooms. Upgrading these areas will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate kitchen countertops — dated and in need of replacement
• Moderate kitchen flooring — dated and in need of replacement
• Minor bathroom fixtures — basic and in need of updating
• Minor exterior paint — some discoloration

Value-add opportunities

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers
• Resale paint interior walls — fresh paint will make the home more appealing
• Resale replace carpeted floors — new flooring will make the home more appealing
• Both trim and maintain landscaping — a well-maintained yard will increase curb appeal and attract more renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
kitchen countertops · dated and in need of replacement	Moderate	$3,000–15,000
kitchen flooring · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · basic and in need of updating	Minor	$500–3,000
exterior paint · some discoloration	Minor	$500–3,000
Total estimated repair cost · 5 items		$10,000–51,000

Value-add ROI direction

• Resale update kitchen cabinets and countertops — modernizing the kitchen will attract more buyers ↑
• Resale update bathroom fixtures — modernizing the bathroom will attract more buyers ↑
• Resale paint interior walls — fresh paint will make the home more appealing ↑
• Resale replace carpeted floors — new flooring will make the home more appealing ↑
• Both trim and maintain landscaping — a well-maintained yard will increase curb appeal and attract more renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

2 events — show timeline

• 2026-05-14 Listed $115,000 SAMLS
• 2026-05-13 Listed $115,000 WBR