602 Cedar Dr · Enterprise, AL 36330

$270,000

5 bd · 1.5 ba · 3,389 sqft · SingleFamily public records · 40 Days on market

Built 1962 $80/sqft · 10% below area Est $301k · 10% under ↓ 10% since listing

---

Why this score? — see what drove the D 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).

• ARV discount +12.1/15.0
• Cash flow +11.9/30.0
• Schools +4.3/10.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Reduced to sell. Spacious and stunning home in Wooded Acres subdivision. Corner Lot!! It offers a two level open floor plan with kitchens on the first and second floor! Huge back yard with plenty of space for a pool or any outside activities. Great location with easy access to all amenities in town. This is a VA Foreclosure to be sold as is. Alabama Right of Redemption may affect this asset. This property may qualify for seller financing (Vendee). Seller does not guarantee or warrant title to the property.

Key facts

• Great location
• Huge back yard
• 2 parking spots

Tags

• TWO LEVEL OPEN FLOOR PLAN
• HUGE BACK YARD
• GREAT LOCATION
• EASY ACCESS TO ALL AMENITIES

Property features AI

Finance

• Other: City lot; Subdivision: WOODED ACRES; Directions available from nearby landmarks

Exterior

• Parking: Attached 2-space carport; Driveway
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single-family residence; Two levels; Brick construction
• Construction: Brick construction; Slab foundation
• Exterior features: Storage structure; Full fencing

Interior

• Flooring: Carpet; Wood
• Bathrooms: Three full bathrooms
• Heating & cooling: Hot water heating; Central heating; Electric heating; Central electric cooling
• Interior features: Electric water heater; Built-in storage

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-69 ($-832/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (4.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (25.9% below list).
• Recommended offer: $200k (25.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.1% in Enterprise — 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 65/100 on livability (#127 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Enterprise City (town): math 40% / reading 60% proficiency, ranked #12 of 129 in AL (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.9%/yr); 444 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 137 units permitted in Coffee County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 7 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 $200,192 (25.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.74% ✗
• Cap rate: 5.98%
• Cash-on-cash: -1.10%
• DSCR: 0.95
• GRM: 11.2

CMA / ARV

• ARV (median comp): $301,088
• List price: $270,000
• Delta: -10.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 Cedar Dr	0.17mi	5/3.5	3,392 (+0%)	6mo	$365,000	$108	79
406 Gibson St	0.50mi	4/3.0 (-1)	3,292 (-3%)	6mo	$327,500	$99	56
217 Cherry Hill Rd	0.37mi	4/3.0 (-1)	2,896 (-14%)	14mo	$284,900	$98	36

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 · 3.92% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-46,401
• Equity at exit: $40,258

10-year hold

• IRR: -7.9%
• Equity multiple: 0.49×
• Total profit: $-38,689
• Equity at exit: $23,345

Cash invested: $75,600 (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 36330

• Home prices YoY: -19.4%
• Rents YoY: 3.9%
• Active inventory: 444
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,002 medium
• Mortgage (P&I): −$1,416
• Tax from tax record: −$122 /mo · $1,470/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-69

Break-even live

Break-even rent $2,090

Max offer price $257,747

Occupancy floor 98%

Sensitivity live

Price	-10% $83	-5% $7	+0% $-69	+5% $-146	+10% $-222
Rent	-10% $-228	-5% $-148	+0% $-69	+5% $10	+10% $89
Rate	-1.0pp $67	-0.5pp $-1	base $-69	+0.5pp $-139	+1.0pp $-211

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
310 Wimbledon Dr Enterprise, AL	5.0	3.0	2400	$2,350	$0.98	45d	1	1.37mi

Listing history 39 events

1. 2026-06-22
   days on market $270,000 Active 40 DOM
2. 2026-06-21
   days on market $270,000 Active 39 DOM
3. 2026-06-19
   days on market $270,000 Active 37 DOM
4. 2026-06-18
   days on market $270,000 Active 36 DOM
5. 2026-06-17
   days on market $270,000 Active 35 DOM
6. 2026-06-16
   days on market $270,000 Active 34 DOM
7. 2026-06-16
   remarks 513-char remark
8. 2026-06-16
   price $270,000 Active 33 DOM
9. 2026-06-15
   days on market $280,000 Active 33 DOM
10. 2026-06-14
    days on market $280,000 Active 31 DOM
11. 2026-06-12
    days on market $280,000 Active 30 DOM
12. 2026-06-09
    days on market $280,000 Active 27 DOM
13. 2026-06-08
    days on market $280,000 Active 26 DOM
14. 2026-06-07
    days on market $280,000 Active 25 DOM
15. 2026-06-05
    days on market $280,000 Active 22 DOM
16. 2026-06-03
    days on market $280,000 Active 21 DOM
17. 2026-06-02
    days on market $280,000 Active 20 DOM
18. 2026-06-01
    days on market $280,000 Active 19 DOM
19. 2026-05-31
    days on market $280,000 Active 18 DOM
20. 2026-05-30
    days on market $280,000 Active 17 DOM
21. 2026-05-12
    listed $280,000 Active 496-char remark
22. 2025-09-23
    status Active
23. 2025-09-23
    status Active
24. 2025-08-18
    price $320,000
25. 2025-08-18
    price $320,000
26. 2025-08-01
    price $335,000
27. 2025-08-01
    price $335,000
28. 2025-07-17
    price $340,000
29. 2025-07-17
    price $340,000
30. 2025-06-18
    price $345,000
31. 2025-06-18
    price $345,000
32. 2025-05-10
    status Active
33. 2025-05-10
    status Active
34. 2025-04-26
    status Pending
35. 2025-04-18
    price $350,000
36. 2025-04-18
    price $350,000
37. 2025-03-22
    listed $355,900 Active
38. 2025-03-22
    listed $355,900 Active
39. 2022-05-20
    soldstatus $300,000

ⓘ 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: $1,470 · $122/mo
• Projected year-2 tax: $1,470 · $122/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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,023
• − Mortgage interest: −$15,124
• − Property taxes: −$1,470
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,922
• − Management: −$1,922
• − Depreciation: −$7,855
• Taxable loss: −$5,619
• Est. tax savings @ 24.0%: +$1,349
• After-tax cash flow: $516/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: Enterprise City
• NCES district ID: 0101320
• Math proficiency: 40% ▼ -20.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $51,311
• Composite: 42.83/100
• National rank: #3136
• State rank: #12 of 129 in AL

Livability — Enterprise

• Score: 65/100
• State rank: #127
• US rank: #12953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enterprise, AL
• County: Coffee County · 39,557 people
• City population: 39,557
• Metro: Enterprise, AL
• Population (ZIP): 39,557
• Household income: $75,765
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1126.0

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 53,133 people
• By 2030: 53,832 · +1.3%
• By 2040: 54,504 · +2.6%
• By 2050: 54,289 · +2.2%
• By 2075: 51,175 · -3.7%
• By 2100: 46,793 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 17% Hispanic / Latino 13% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 3%
• Common ancestry: Italian 3% Lithuanian 2% Serbian 2%
• Foreign-born: 6% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 2%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+57.9) · D 20.7% · R 78.6%
• 2008→2024 swing: -9.0pp toward R · 2008: -48.9pp · 2024: -57.9pp
• All cycles: 2024: R+57.9 2020: R+53.1 2016: R+56.7 2012: R+49.4 2008: R+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.44%
• Current HPI: 184.0163
• Rent YoY: ▲ 3.92%
• Metro: Enterprise, AL
• 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

-10.0% since first listed

20 events — show timeline

• 2026-06-15 Price Changed $270,000 WBR
• 2026-05-12 Listed $280,000 WBR
• 2025-09-23 Relisted — SAMLS
• 2025-09-23 Relisted — WBR
• 2025-08-18 Price Changed $320,000 SAMLS
• 2025-08-18 Price Changed $320,000 WBR
• 2025-08-01 Price Changed $335,000 SAMLS
• 2025-08-01 Price Changed $335,000 WBR
• 2025-07-17 Price Changed $340,000 SAMLS
• 2025-07-17 Price Changed $340,000 WBR
• 2025-06-18 Price Changed $345,000 SAMLS
• 2025-06-18 Price Changed $345,000 WBR
• 2025-05-10 Relisted — SAMLS
• 2025-05-10 Relisted — WBR
• 2025-04-26 Pending — SAMLS
• 2025-04-18 Price Changed $350,000 SAMLS
• 2025-04-18 Price Changed $350,000 WBR
• 2025-03-22 Listed $355,900 SAMLS
• 2025-03-22 Listed $355,900 WBR
• 2022-05-20 Sold (Public Records) $300,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $1,470 · +6.6% YoY. Source: county tax records.