402 Covey Cir · Dothan, AL 36305

$164,900

5 bd · 2.5 ba · 2,432 sqft · Manufactured public records · 23 Days on market

Built 1999 Est $148k · 11% over

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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 +27.2/30.0
• DSCR +9.5/10.0
• 1% rule +6.1/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

Key facts

• Covered parking
• Detached workshop
• Screened porch

Tags

• SCREENED PORCH
• DETACHED WORKSHOP
• COVERED PARKING
• OVERSIZED CONCRETE DRIVEWAY
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• HOA & community: Located in Quail Run / Quail Landing community

Exterior

• Parking: Attached carport; 4 carport spaces; Driveway; Parking pad
• Security: Fire alarm
• Utilities: Cable available; Electricity available; Natural gas available; Public sewer
• Home design: Manufactured home (Fleetwood); One level
• Construction: Block, concrete, and vinyl siding construction; Slab foundation
• Exterior features: Covered patio/porch; Deck; Patio; City lot

Interior

• Kitchen: Electric range; Microwave; Garbage disposal
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Hot water heating; Electric heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Breakfast bar; Window coverings and blinds; Disposal; Microwave; Electric water heater

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• 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.
• Market conditions: 162 active listings in the ZIP; solid renter incomes; 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 $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y 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

• 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 $162,426 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.72%
• Cash-on-cash: 12.25%
• DSCR: 1.55
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $148,352
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Covey Cir	0.00mi	5/2.5	2,432 (0%)	23mo	$149,500	$61	81

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: 1.8%
• Equity multiple: 1.07×
• Total profit: $3,225
• Equity at exit: $24,587

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $41,163
• Equity at exit: $14,258

Cash invested: $46,172 (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 36305

• Home prices YoY: -25.7%
• Active inventory: 162
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$41 /mo · $495/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $471

Break-even live

Break-even rent $1,234

Max offer price $164,900

Occupancy floor 69%

Sensitivity live

Price	-10% $565	-5% $518	+0% $471	+5% $425	+10% $378
Rent	-10% $327	-5% $399	+0% $471	+5% $544	+10% $616
Rate	-1.0pp $554	-0.5pp $513	base $471	+0.5pp $429	+1.0pp $385

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $164,900 Active 23 DOM
2. 2026-06-19
   days on market $164,900 Active 21 DOM
3. 2026-06-18
   days on market $164,900 Active 20 DOM
4. 2026-06-17
   days on market $164,900 Active 19 DOM
5. 2026-06-16
   days on market $164,900 Active 18 DOM
6. 2026-06-15
   days on market $164,900 Active 17 DOM
7. 2026-06-14
   days on market $164,900 Active 15 DOM
8. 2026-06-12
   days on market $164,900 Active 14 DOM
9. 2026-06-09
   days on market $164,900 Active 11 DOM
10. 2026-06-08
    days on market $164,900 Active 10 DOM
11. 2026-06-07
    days on market $164,900 Active 9 DOM
12. 2026-06-05
    days on market $164,900 Active 6 DOM
13. 2026-06-03
    days on market $164,900 Active 5 DOM
14. 2026-06-02
    days on market $164,900 Active 4 DOM
15. 2026-06-01
    days on market $164,900 Active 3 DOM
16. 2026-05-31
    days on market $164,900 Active 2 DOM
17. 2026-05-29
    listed $164,900 Active
18. 2024-07-31
    soldstatus $149,500 Closed 1254-char remark

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

19. 2024-07-31
    soldstatus $149,500

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

20. 2024-06-27
    historical Active Under Contract 1254-char remark

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

21. 2024-06-01
    price $150,000 1254-char remark

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

22. 2024-04-27
    price $165,000 1254-char remark

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

23. 2024-04-12
    listed $170,000 Active 1254-char remark

    Show marketing remark (1254 chars)

    Spacious 5-Bedroom Home in Rehobeth School District Discover the perfect blend of comfort and convenience with this charming 5-bedroom, 2.5-bathroom home in the sought-after Rehobeth School District. Priced to sell, this home boasts numerous features that make it a fantastic opportunity for those seeking a larger home. * * Key Features: * * - * * Expansive Kitchen: * * Ideal for cooking, dining, and socializing, the large kitchen is the heart of the home. - * * Outdoor Living: * * Enjoy the beautiful front yard and a screened-in back porch, perfect for relaxation and entertainment. - * * Freshly Updated: * * The home has been freshly painted and features stunning landscaping. - * * Ample Storage: * * A large, two-story storage shed in the backyard provides plenty of space for all your needs. - * * Extended Driveway: * * Owners have expanded the driveway and added a carport, offering plenty of parking for multiple vehicles. - * * Well-Maintained Roof: * * The roof is only 6 years old, ensuring peace of mind for years to come. This move-in-ready gem won't last long! Contact us today to schedule a showing and make this wonderful house your new home. Price lowered to sell, this home is in great condition!!

24. 2015-08-28
    soldstatus $38,500 60-char remark

    Show marketing remark (60 chars)

    Large Home for a growing Family Back Deck, small front porch

25. 2014-11-13
    listed $44,900 60-char remark

    Show marketing remark (60 chars)

    Large Home for a growing Family Back Deck, small front porch

ⓘ 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: $495 · $41/mo
• Projected year-2 tax: $676 · $56/mo
• Expected delta: +$181/yr (+$15/mo · 36.6%)

ⓘ 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 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,965
• − Mortgage interest: −$9,237
• − Property taxes: −$495
• − Insurance: −$824
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$4,797
• Taxable income: $3,097
• Est. tax owed @ 24.0%: −$743
• After-tax cash flow: $4,913/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: Houston County
• NCES district ID: 0101770
• Math proficiency: 25% ▼ -33.00%
• Reading proficiency: 49% ▼ -1.00%
• Median HH income: $40,530
• Composite: 31.01/100
• National rank: #6092
• State rank: #38 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

• County: Houston County · 47,783 people
• City population: 47,783
• Metro: Dothan, AL
• Population (ZIP): 17,610
• Household income: $84,302
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 331.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 12% Hispanic / Latino 6% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 2% Italian 2% Serbian 1%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 2%

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: ▼ -54.33%
• Current HPI: 157.3685
• Rent YoY: —
• Metro: Dothan, 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

+267.3% since first listed

9 events — show timeline

• 2026-05-29 Listed $164,900 WBR
• 2024-07-31 Sold (Public Records) $149,500 Public Records
• 2024-07-31 Sold (MLS) $149,500 WBR
• 2024-06-27 Contingent — WBR
• 2024-06-01 Price Changed $150,000 WBR
• 2024-04-27 Price Changed $165,000 WBR
• 2024-04-12 Listed $170,000 WBR
• 2015-08-28 Sold (MLS) $38,500 SAMLS
• 2014-11-13 Listed $44,900 SAMLS

Property tax history

+2.8%/yr

Latest (2025): $495 · +20.2% YoY. Source: county tax records.