15 Northgate Dr · Phenix City, AL 36869

$119,900

4 bd · 2.0 ba · 1,792 sqft · Manufactured public records · 39 Days on market

Built 2006 0.45 ac lot $67/sqft · 47% below area Est $226k · 47% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This spacious manufactured home features 4 bedrooms and 2 bathrooms, offering a generous 1,792 square feet of living space on a 0.45-acre lot. Built in 2006, it boasts a split-bedroom floor plan, a large kitchen with an island, and an open living area. The primary suite includes a double vanity, a separate soaking tub, and a shower. With ample space both inside and out, this home is perfect for comfortable living.

Key facts

• 0.45 acre lot
• 2 parking spots
• Built 2006

Property features AI

Finance

• HOA & community: No community amenities listed

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Public water; Septic tank sewer; Cable, electricity, and phone available
• Home design: Single-family residence; One story; No shared/common walls; Has a view
• Construction: Composition roof; Built with other/unspecified construction materials; Crawl space foundation
• Exterior features: Back yard; Outbuilding; No special exterior features, patios, porches, or fencing listed

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 4 main-level bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric heating with heat pump; Central electric air conditioning
• Interior features: Double vanity; No fireplace
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% vs local median 4.9% in Phenix City — 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 60/100 on livability (#297 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Russell County (rural): math 18% / reading 45% proficiency, ranked #65 of 129 in AL (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 107 active listings in the ZIP; 183 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% of the median local income ($50k/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 $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Russell County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $120k implies a 199% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 12.11%
• Cash-on-cash: 20.78%
• DSCR: 1.92
• GRM: 6.1

CMA / ARV

• ARV (median comp): $225,783
• List price: $119,900
• Delta: -46.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.43% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.40×
• Total profit: $13,411
• Equity at exit: $17,877

10-year hold

• IRR: 17.4%
• Equity multiple: 2.28×
• Total profit: $43,011
• Equity at exit: $10,367

Cash invested: $33,572 (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 36869

• Home prices YoY: -22.2%
• Rents YoY: 0.4%
• Active inventory: 107
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,647 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$41 /mo · $491/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $581

Break-even live

Break-even rent $911

Max offer price $119,900

Occupancy floor 60%

Sensitivity live

Price	-10% $649	-5% $615	+0% $581	+5% $548	+10% $514
Rent	-10% $451	-5% $516	+0% $581	+5% $647	+10% $712
Rate	-1.0pp $642	-0.5pp $612	base $581	+0.5pp $550	+1.0pp $519

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-10
   status $119,900 Pending 39 DOM
2. 2026-06-09
   days on market $119,900 Active 39 DOM
3. 2026-06-08
   days on market $119,900 Active 38 DOM
4. 2026-06-07
   days on market $119,900 Active 37 DOM
5. 2026-06-05
   pricedays on market $119,900 Active 34 DOM
6. 2026-06-02
   days on market $129,900 Active 32 DOM
7. 2026-06-01
   days on market $129,900 Active 31 DOM
8. 2026-05-31
   days on market $129,900 Active 30 DOM
9. 2026-05-30
   days on market $129,900 Active 29 DOM
10. 2026-05-01
    listed $129,900 Active 417-char remark
11. 2026-04-22
    status Active
12. 2026-03-03
    status Pending
13. 2026-01-19
    price $134,900
14. 2025-11-25
    price $144,900
15. 2025-08-25
    price $154,900
16. 2025-05-22
    listed $159,900 Active
17. 2022-11-11
    historical
18. 2021-06-16
    listed $89,900
19. 2006-11-06
    soldstatus $40,099

ⓘ 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: $491 · $41/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$1/yr ($0/mo · 0.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,764
• − Mortgage interest: −$6,716
• − Property taxes: −$491
• − Insurance: −$600
• − Repairs & maintenance: −$1,581
• − Management: −$1,581
• − Depreciation: −$3,488
• Taxable income: $5,307
• Est. tax owed @ 24.0%: −$1,274
• After-tax cash flow: $5,704/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: Russell County
• NCES district ID: 0102880
• Math proficiency: 18% ▼ -28.00%
• Reading proficiency: 45% ▲ 1.00%
• Median HH income: $40,292
• Composite: 26.41/100
• National rank: #7226
• State rank: #65 of 129 in AL

Livability — Phenix City

• Score: 60/100
• State rank: #297
• US rank: #19037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Russell County · 53,055 people
• City population: 62,290
• Metro: Columbus, GA-AL
• Population (ZIP): 21,518
• Household income: $50,061
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 789.0

Population outlook (Russell County) Hauer SSP2

• Today (2025): 70,137 people
• By 2030: 75,826 · +8.1%
• By 2040: 87,858 · +25.3%
• By 2050: 99,721 · +42.2%
• By 2075: 128,009 · +82.5%
• By 2100: 149,251 · +112.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 50% White 41% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Slovak 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Russell

• 2024 margin: Toss-up / Even · D 50.4% · R 48.7%
• 2008→2024 swing: -5.6pp toward R · 2008: 7.3pp · 2024: 1.7pp
• All cycles: 2024: D+1.7 2020: D+6.4 2016: D+1.9 2012: D+11.8 2008: D+7.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -47.69%
• Current HPI: 166.9094
• Rent YoY: ▲ 0.43%
• Metro: Columbus, GA-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

+199.0% since first listed

12 events — show timeline

• 2026-06-09 Pending — EABOR
• 2026-06-04 Price Changed $119,900 EABOR
• 2026-05-01 Listed $129,900 EABOR
• 2026-04-22 Relisted — EABOR
• 2026-03-03 Pending — EABOR
• 2026-01-19 Price Changed $134,900 EABOR
• 2025-11-25 Price Changed $144,900 EABOR
• 2025-08-25 Price Changed $154,900 EABOR
• 2025-05-22 Listed $159,900 EABOR
• 2022-11-11 Rental Removed — RENT.
• 2021-06-16 Listed $89,900 EABOR
• 2006-11-06 Sold (Public Records) $40,099 Public Records

Property tax history

+5.3%/yr

Latest (2025): $491 · +6.9% YoY. Source: county tax records.