4410 Bridgewater Dr · Phenix City, AL 36867

$229,000

3 bd · 1.0 ba · 1,578 sqft · SingleFamily public records · 17 Days on market

Built 1974 0.37 ac lot Est $249k · 8% under

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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).

• Cash flow +15.9/30.0
• ARV discount +11.2/15.0
• DSCR +4.9/10.0
• Rent growth +3.8/5.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated home in North Phenix City in a quiet cul-de-sac behind the Lakewood Golfcourse. Pictures will be uploaded soon.

Key facts

• Lakewood golfcourse
• Quiet cul-de-sac
• Updated home

Tags

• UPDATED HOME
• QUIET CUL-DE-SAC
• LAKEWOOD GOLFCOURSE

Property features AI

Exterior

• Home design: House
• Exterior features: Lot of approximately 16,117 square feet

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (17.5% below list).
• Recommended offer: $189k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.1% 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: crime F, amenities F, commute F.
• Phenix City (suburban): math 22% / reading 44% proficiency, ranked #59 of 129 in AL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sherwood Elementary School (math 36% / reading 59%, grade D, #140 of 627 statewide, top 22%, 521 students, 80% FRL); Phenix City Intermediate School (math 18% / reading 41%, grade F, #129 of 257 statewide, top 52%, 1,044 students, 80% FRL); Central High School (math 26% / reading 21%, grade F, #139 of 305 statewide, top 45%, 1,495 students, 74% FRL).
• Market conditions: Rents rising fast (+5.3%/yr); 217 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 183 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• At $1,889/mo this rent would consume 47% of the median local household income ($48k/yr) (locally 1399% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $229k implies a 113% 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; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,941 (17.5% below list)

Questions for the listing agent

1. Built in 1974 — 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. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.04%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $249,324
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4400 Sue Dr	0.06mi	3/2.0	1,461 (-7%)	14mo	$175,000	$120	69
4204 Silver Terrace Ct	0.34mi	3/2.0	1,488 (-6%)	10mo	$230,000	$155	63
4515 Silver Lake Dr	0.40mi	3/2.0	1,739 (+10%)	1mo	$293,000	$168	60
3209 Silver Lake Dr	0.29mi	3/2.0	1,705 (+8%)	13mo	$269,900	$158	58
3212 Thornberry Cir	0.69mi	3/2.0	1,547 (-2%)	8mo	$280,000	$181	54
3022 Thornberry Cir	0.60mi	3/2.0	1,633 (+4%)	11mo	$295,000	$181	53
3601 Holland Ct	0.54mi	3/2.0	1,454 (-8%)	7mo	$192,000	$132	52
5101 Pierce Point Dr	0.58mi	3/2.0	1,470 (-7%)	11mo	$266,000	$181	48
3208 Thornberry Cir	0.73mi	3/2.0	1,509 (-4%)	10mo	$259,900	$172	46
27 Lakewood Pl	0.69mi	3/2.0	1,727 (+9%)	5mo	$190,000	$110	44
23 Lee Road 0553	0.74mi	3/2.0	1,426 (-10%)	2mo	$225,000	$158	44
28 Lakewood Pl	0.69mi	3/2.5	1,722 (+9%)	13mo	$225,000	$131	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 · 5.33% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.60×
• Total profit: $-25,723
• Equity at exit: $34,145

10-year hold

• IRR: 1.2%
• Equity multiple: 1.09×
• Total profit: $5,673
• Equity at exit: $19,800

Cash invested: $64,120 (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 36867

• Home prices YoY: -30.1%
• Rents YoY: 5.3%
• Active inventory: 217
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,889 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$87 /mo · $1,047/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $109

Break-even live

Break-even rent $1,751

Max offer price $229,000

Occupancy floor 89%

Sensitivity live

Price	-10% $239	-5% $174	+0% $109	+5% $44	+10% $-21
Rent	-10% $-40	-5% $34	+0% $109	+5% $184	+10% $258
Rate	-1.0pp $224	-0.5pp $167	base $109	+0.5pp $50	+1.0pp $-11

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4404 Bridgewater Dr Phenix City, AL	3.0	2.0	1894	$2,100	$1.11	23d	1	0.06mi
3622 S Railroad St Phenix City, AL	1.0–3.0	1.0–2.5	1141	$1,792	$1.57	15d	10	0.51mi
15 Windsweep Ct Phenix City, AL	2.0	2.0	1209	$1,025	$0.85	15d	1	0.59mi
1914 Tranquil Ln Phenix City, AL	2.0	2.5	1581	$1,700	$1.08	23d	1	1.09mi

Listing history 13 events

1. 2026-06-21
   days on market $229,000 Active 17 DOM
2. 2026-06-18
   days on market $229,000 Active 14 DOM
3. 2026-06-17
   days on market $229,000 Active 13 DOM
4. 2026-06-16
   days on market $229,000 Active 12 DOM
5. 2026-06-15
   days on market $229,000 Active 11 DOM
6. 2026-06-14
   days on market $229,000 Active 9 DOM
7. 2026-06-13
   days on market $229,000 Active 8 DOM
8. 2026-06-10
   days on market $229,000 Active 6 DOM
9. 2026-06-09
   days on market $229,000 Active 5 DOM
10. 2026-06-08
    days on market $229,000 Active 4 DOM
11. 2026-06-07
    days on market $229,000 Active 3 DOM
12. 2026-06-05
    remarks 119-char remark
13. 2026-06-05
    listed $229,000 Active 1 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: $1,047 · $87/mo
• Projected year-2 tax: $1,047 · $87/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 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,673
• − Mortgage interest: −$12,828
• − Property taxes: −$1,047
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$6,662
• Taxable loss: −$2,636
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $1,941/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: Phenix City
• NCES district ID: 0102700
• Math proficiency: 22% ▼ -24.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $36,228
• Composite: 27.29/100
• National rank: #7001
• State rank: #59 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

• Census place: Phenix City, AL
• County: Russell County · 53,055 people
• City population: 62,290
• Metro: Columbus, GA-AL
• Population (ZIP): 22,821
• Household income: $48,026
• Rent vs Own: 52.0% rent · 48.0% own
• Severe rent burden: 1399.0

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 0.60)
• Race & ethnicity: White 53% Black 34% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

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: ▼ -74.10%
• Current HPI: 171.8426
• Rent YoY: ▲ 5.33%
• 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

+68.5% since first listed

3 events — show timeline

• 2026-06-04 Listed $229,000 ForSaleByOwner.com
• 2016-03-18 Sold (Public Records) $107,500 Public Records
• 1990-11-08 Sold (Public Records) $135,921 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,047 · +5.7% YoY. Source: county tax records.