400 Perry St · Andalusia, AL 36420

$89,900

2 bd · 1.0 ba · 1,177 sqft · SingleFamily public records · 242 Days on market

Built 1945 7,405 sqft lot Est $94k · at est. ↓ 8% since listing

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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 +25.7/30.0
• ARV discount +9.5/15.0
• DSCR +8.6/10.0
• Appreciation +8.4/10.0
• 1% rule +6.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this delightful 1177 sq ft home, where every inch is designed for practical, comfortable living. The open-concept living and dining area provides a flexible layout for entertaining or quiet nights in. The functional kitchen has been recently updated with modern appliances and plenty of counter space. The two well-sized bedrooms offer a peaceful retreat, and the bathroom features contemporary fixtures. Outside, a low-maintenance yard offers a great space for relaxing. Conveniently located just minutes from shopping, dining, and parks, this home is a perfect blend of convenience and style.

Key facts

• Functional kitchen
• Low-maintenance yard
• Conveniently located

Tags

• FUNCTIONAL KITCHEN
• RECENTLY UPDATED APPLIANCES
• LOW-MAINTENANCE YARD
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Paved parking
• Utilities: Public water; Public sewer; Natural gas available; Electricity available
• Home design: Single family residence; One story
• Construction: Vinyl siding; Metal roof; Above-grade finished area approximately 1,177
• Exterior features: Chain link fencing; Storage structure; Level lot; Lot dimensions approximately 50 x 187 x 50 x 188

Interior

• Kitchen: Refrigerator; Range
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating
• Interior features: Laminate counters; Blinds
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($991 rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 4.1% in Andalusia — 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 (#142 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime F, amenities F.
• Andalusia City (town): math 29% / reading 48% proficiency, ranked #35 of 129 in AL (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 13 units permitted in Covington County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($622 loan paydown + $6k appreciation (6.8% local appreciation)).
• Covington County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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 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: 1.10% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.28%
• DSCR: 1.46
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $94,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
500 Dunson St	0.10mi	2/1.0	1,233 (+5%)	15mo	$53,000	$43	75
507 Seegers St	0.35mi	3/1.0 (+1)	1,204 (+2%)	2mo	$115,000	$96	73
718 South Three Notch St	0.28mi	3/2.0 (+1)	1,269 (+8%)	2mo	$145,000	$114	63
1002 Snowden Dr	0.44mi	2/1.0	1,161 (-1%)	19mo	$58,000	$50	61
205 Simmons St	0.43mi	3/2.0 (+1)	1,214 (+3%)	6mo	$67,500	$56	60
311 Packer Ave	0.62mi	2/1.0	1,164 (-1%)	14mo	$50,000	$43	58
416 Cawthon St	0.61mi	3/1.0 (+1)	1,160 (-1%)	11mo	$93,000	$80	55
409 Church St	0.28mi	3/2.0 (+1)	1,304 (+11%)	9mo	$215,000	$165	52
230 Baisden St	0.35mi	3/1.0 (+1)	1,344 (+14%)	7mo	$47,500	$35	49
Lot 3 Church St	0.31mi	3/2.0 (+1)	1,304 (+11%)	16mo	$229,900	$176	45
860 South Three Notch	0.58mi	2/1.0	1,000 (-15%)	11mo	$70,000	$70	38
858 South Three Notch St	0.55mi	3/2.0 (+1)	1,316 (+12%)	16mo	$210,000	$160	32

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

Projected returns pro-forma

6.81% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.75×
• Total profit: $44,054
• Equity at exit: $61,178

10-year hold

• IRR: 23.6%
• Equity multiple: 5.68×
• Total profit: $117,857
• Equity at exit: $115,210

Cash invested: $25,172 (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 36420

• Home prices YoY: 2.9%
• Active inventory: 87
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $991 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$58 /mo · $699/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $216

Break-even live

Break-even rent $718

Max offer price $89,900

Occupancy floor 73%

Sensitivity live

Price	-10% $267	-5% $241	+0% $216	+5% $190	+10% $165
Rent	-10% $137	-5% $176	+0% $216	+5% $255	+10% $294
Rate	-1.0pp $261	-0.5pp $238	base $216	+0.5pp $192	+1.0pp $169

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $89,900 Active 242 DOM
2. 2026-06-19
   days on market $89,900 Active 240 DOM
3. 2026-06-18
   days on market $89,900 Active 239 DOM
4. 2026-06-17
   days on market $89,900 Active 238 DOM
5. 2026-06-16
   days on market $89,900 Active 237 DOM
6. 2026-06-15
   days on market $89,900 Active 236 DOM
7. 2026-06-14
   days on market $89,900 Active 234 DOM
8. 2026-06-12
   days on market $89,900 Active 233 DOM
9. 2026-06-09
   days on market $89,900 Active 230 DOM
10. 2026-06-08
    days on market $89,900 Active 229 DOM
11. 2026-06-07
    days on market $89,900 Active 228 DOM
12. 2026-06-07
    days on market $89,900 Active 227 DOM
13. 2026-06-04
    days on market $89,900 Active 224 DOM
14. 2026-06-02
    days on market $89,900 Active 223 DOM
15. 2026-06-01
    days on market $89,900 Active 222 DOM
16. 2026-05-31
    days on market $89,900 Active 221 DOM
17. 2026-05-31
    days on market $89,900 Active 220 DOM
18. 2026-05-22
    status Active
19. 2026-03-23
    historical Active Under Contract
20. 2026-01-21
    price $89,900
21. 2025-10-22
    listed $97,500 Active

ⓘ 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: $699 · $58/mo
• Projected year-2 tax: $699 · $58/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 4/10 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,890
• − Mortgage interest: −$5,036
• − Property taxes: −$699
• − Insurance: −$450
• − Repairs & maintenance: −$951
• − Management: −$951
• − Depreciation: −$2,615
• Taxable income: $1,188
• Est. tax owed @ 24.0%: −$285
• After-tax cash flow: $2,302/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: Andalusia City
• NCES district ID: 0100060
• Math proficiency: 29% ▼ -19.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $32,645
• Composite: 31.52/100
• National rank: #5964
• State rank: #35 of 129 in AL

Livability — Andalusia

• Score: 65/100
• State rank: #142
• US rank: #13465

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Andalusia, AL
• City population: 9,861
• Population (ZIP): 10,358

Population outlook (Covington County) Hauer SSP2

• Today (2025): 37,007 people
• By 2030: 36,401 · -1.6%
• By 2040: 34,983 · -5.5%
• By 2050: 33,437 · -9.6%
• By 2075: 29,753 · -19.6%
• By 2100: 25,109 · -32.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 13% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Covington

• 2024 margin: Solid R (+72.4) · D 13.6% · R 86.0%
• 2008→2024 swing: -14.1pp toward R · 2008: -58.3pp · 2024: -72.4pp
• All cycles: 2024: R+72.4 2020: R+68.1 2016: R+68.5 2012: R+58.3 2008: R+58.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.81%
• Current HPI: 239.35
• 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

-7.8% since first listed

4 events — show timeline

• 2026-05-22 Relisted — CAOR
• 2026-03-23 Contingent — CAOR
• 2026-01-21 Price Changed $89,900 CAOR
• 2025-10-22 Listed $97,500 CAOR

Property tax history

+13.9%/yr

Latest (2025): $699 · +6.9% YoY. Source: county tax records.