461 N Park Ave · Dothan, AL 36303

$90,000

3 bd · 2.0 ba · 2,379 sqft · SingleFamily public records · 9 Days on market

Built 1950 0.49 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for investors or buyers looking to add their personal touch! This 3-bedroom, 2-bath home offers plenty of space and is situated on a large lot in a great location close to shopping, dining, schools, and other amenities. Featuring hardwood flooring throughout and endless potential, this property is ready for updates and improvements to make it shine again. Whether you're looking for an investment property or a renovation project, this home is full of possibilities. HOME TO BE SOLD AS IS

Key facts

• 0.49 acre lot
• Built 1950
• Listed 9 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One level
• Construction: Wood siding
• Exterior features: No patio or porch listed; Waterfront property

Interior

• Kitchen: Cooktop; Oven; Dishwasher
• Flooring: Wood
• Bathrooms: 2 full bathrooms
• Interior features: Wood-frame windows; Wood flooring; Living room fireplace (1)
• Laundry & utility: Laundry inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $593 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 14.2% 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: employment D, crime F, amenities 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.
• Zoned schools: Girard Intermediate School (math 2% / reading 20%, grade F, #560 of 627 statewide, top 90%, 321 students, 95% FRL); Dothan High School (math 16% / reading 24%, grade F, #163 of 305 statewide, top 54%, 1,454 students, 70% FRL) — zoned schools average 82% FRL vs 59% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 29% district-wide (-14 pts) — the specific schools serving this property underperform the Dothan City average; the district grade overstates school quality for this exact location.
• Market conditions: 233 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 463 units permitted in Houston County in 2024 (96 in 5+ unit buildings).
• This rent runs 34% of the median local income ($54k/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 $622 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.69% ✓
• Cap rate: 14.19%
• Cash-on-cash: 28.22%
• DSCR: 2.26
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $285,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 N Park Ave	0.05mi	3/2.0	2,158 (-9%)	2mo	$258,000	$120	81
305 N Herring St	0.19mi	3/2.0	2,178 (-8%)	2mo	$62,000	$28	75
305 N Herring St	0.19mi	3/2.0	2,178 (-8%)	2mo	$62,000	$28	75
302 N Iroquois Ave	0.37mi	3/2.5	2,458 (+3%)	1mo	$370,000	$151	74
200 N Cherokee Ave	0.47mi	3/2.0	2,218 (-7%)	2mo	$168,000	$76	65
1509 Osceola Steet St	0.29mi	3/3.0	2,550 (+7%)	13mo	$335,000	$131	60
1302 W Powell St	0.15mi	2/1.0 (-1)	2,077 (-13%)	6mo	$95,000	$46	58
310 N Orange Ave	0.09mi	3/3.0	2,065 (-13%)	17mo	$232,000	$112	56
115 N Roberta Ave	0.60mi	3/2.0	2,083 (-12%)	3mo	$305,000	$146	49
211 N Cherokee Ave	0.50mi	3/3.0	2,484 (+4%)	20mo	$392,000	$158	48
121 N Roberta Ave	0.59mi	4/2.5 (+1)	2,593 (+9%)	10mo	$328,000	$126	42
110 Westmont Dr	0.73mi	4/2.0 (+1)	2,650 (+11%)	10mo	$135,000	$51	34

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: 22.4%
• Equity multiple: 1.92×
• Total profit: $23,177
• Equity at exit: $13,419

10-year hold

• IRR: 30.4%
• Equity multiple: 3.73×
• Total profit: $68,854
• Equity at exit: $7,782

Cash invested: $25,200 (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 36303

• Active inventory: 233
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,525 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$103 /mo · $1,236/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $593

Break-even live

Break-even rent $775

Max offer price $90,000

Occupancy floor 56%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1205 Magnolia Ave Dothan, AL	3.0	2.0	1916	$1,900	$0.99	43d	1	0.43mi

Listing history 8 events

1. 2026-06-18
   statusdays on market $90,000 Pending 9 DOM
2. 2026-06-17
   days on market $90,000 Active 8 DOM
3. 2026-06-16
   days on market $90,000 Active 7 DOM
4. 2026-06-15
   days on market $90,000 Active 6 DOM
5. 2026-06-14
   remarks 508-char remark
6. 2026-06-14
   days on market $90,000 Active 4 DOM
7. 2026-06-12
   remarks 486-char remark
8. 2026-06-12
   listed $90,000 Active 3 DOM

ⓘ 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: $1,236 · $103/mo
• Projected year-2 tax: $1,236 · $103/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 18 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: $18,305
• − Mortgage interest: −$5,041
• − Property taxes: −$1,236
• − Insurance: −$450
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$2,618
• Taxable income: $6,031
• Est. tax owed @ 24.0%: −$1,447
• After-tax cash flow: $5,664/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: 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
• County: Houston County · 47,783 people
• City population: 47,783
• Metro: Dothan, AL
• Population (ZIP): 30,173
• Household income: $54,147
• Rent vs Own: 41.3% rent · 58.7% own
• Severe rent burden: 1156.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 50% Black 41% Two or more races 5% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3%

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: ▼ -121.35%
• Current HPI: 182.6482
• 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

1 event — show timeline

• 2026-06-10 Listed $90,000 SAMLS

Property tax history

+11.3%/yr

Latest (2025): $1,236 · +250.2% YoY. Source: county tax records.