304 Meredith St · Enterprise, AL 36330

$145,500

3 bd · 2.0 ba · 1,335 sqft · SingleFamily public records · 196 Days on market

Built 1974 0.34 ac lot Est $191k · 24% under

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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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +4.3/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming brick ranch-style home is perfect for first-time buyers, featuring a cozy rustic living room, 3 bedrooms, and 2 bathrooms. Recent updates include a 2-year-old roof, HVAC, and water heater. The dining area sits just off the kitchen, with covered porches in both the front and back. Conveniently close to downtown, it also offers a lovely backyard ideal for grilling, relaxing, gardening, or crafting your own private retreat.

Key facts

• Covered porches
• Recent updates
• Lovely backyard

Tags

• BRICK RANCH STYLE HOME
• RECENT UPDATES
• COVERED PORCHES
• LOVELY BACKYARD

Property features AI

Exterior

• Parking: Attached garage with garage door opener (1 car)
• Security: Fire alarm
• Utilities: Public water; Public sewer; Electricity available
• Home design: Single family residence; One story; Entry level: One
• Construction: Brick and wood siding construction; Slab foundation
• Exterior features: Covered porch; City lot

Interior

• Kitchen: Electric range; Refrigerator
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Central heating; Electric heating; Central air conditioning; Electric cooling
• Interior features: Fireplace (1); Storm door(s)
• Laundry & utility: Washer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $156 ($2k/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 $135k (7.3% below list).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.1% in Enterprise — 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 (#127 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
• Enterprise City (town): math 40% / reading 60% proficiency, ranked #12 of 129 in AL (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.9%/yr); 444 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 137 units permitted in Coffee County in 2024 (0 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

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 $128,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 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 1974 — 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. 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?
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: 0.93% ✗
• Cap rate: 7.58%
• Cash-on-cash: 4.58%
• DSCR: 1.20
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $190,905
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 Meredith St	0.00mi	3/2.0	1,335 (0%)	1mo	$140,000	$105	99
301 Camellia Dr	0.28mi	3/2.0	1,460 (+9%)	1mo	$172,900	$118	71
116 Kitty Hawk Loop	0.44mi	3/2.0	1,416 (+6%)	3mo	$243,990	$172	67
116 Kitty Hawk Loop	0.44mi	3/2.0	1,416 (+6%)	3mo	$243,990	$172	67
120 Kitty Hawk Loop	0.45mi	3/2.0	1,416 (+6%)	7mo	$199,888	$141	63
128 Kitty Hawk Loop	0.46mi	3/2.0	1,416 (+6%)	7mo	$229,990	$162	63
102 Lakeview Dr	0.41mi	3/1.0	1,242 (-7%)	4mo	$134,000	$108	62
117 Kitty Hawk Loop	0.50mi	3/2.0	1,416 (+6%)	6mo	$201,888	$143	62
117 Kitty Hawk Loop	0.50mi	3/2.0	1,416 (+6%)	6mo	$201,888	$143	62
157 Cody Dr	0.48mi	3/2.0	1,481 (+11%)	5mo	$225,000	$152	55
102 Pinewood Dr	0.68mi	3/2.0	1,201 (-10%)	1mo	$175,000	$146	51
511 W Watts St	0.69mi	2/2.0 (-1)	1,452 (+9%)	6mo	$130,000	$90	43

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 · 3.92% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.69×
• Total profit: $-12,443
• Equity at exit: $21,695

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $7,041
• Equity at exit: $12,580

Cash invested: $40,740 (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 36330

• Home prices YoY: -19.4%
• Rents YoY: 3.9%
• Active inventory: 444
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,349 medium
• Mortgage (P&I): −$763
• Tax from tax record: −$87 /mo · $1,038/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $156

Break-even live

Break-even rent $1,152

Max offer price $145,500

Occupancy floor 83%

Sensitivity live

Price	-10% $238	-5% $197	+0% $156	+5% $114	+10% $73
Rent	-10% $49	-5% $102	+0% $156	+5% $209	+10% $262
Rate	-1.0pp $229	-0.5pp $193	base $156	+0.5pp $118	+1.0pp $80

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: $36,375
• Closing costs: $4,365
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
618 N Rawls St Enterprise, AL	3.0	1.0	1140	$975	$0.86	45d	1	0.89mi
252 Jasmine Cir Enterprise, AL	3.0	2.5	1572	$1,550	$0.99	45d	1	1.11mi
300 E Brunson St Enterprise, AL	2.0	1.0	900	$800	$0.89	45d	1	1.40mi

Listing history 2 events

1. 2026-03-19
   historical Active Under Contract
2. 2025-11-13
   listed $145,500 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: $1,038 · $87/mo
• Projected year-2 tax: $1,038 · $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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,189
• − Mortgage interest: −$8,150
• − Property taxes: −$1,038
• − Insurance: −$728
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$4,233
• Taxable loss: −$550
• Est. tax savings @ 24.0%: +$132
• After-tax cash flow: $1,999/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: Enterprise City
• NCES district ID: 0101320
• Math proficiency: 40% ▼ -20.00%
• Reading proficiency: 60% ▲ 4.00%
• Median HH income: $51,311
• Composite: 42.83/100
• National rank: #3136
• State rank: #12 of 129 in AL

Livability — Enterprise

• Score: 65/100
• State rank: #127
• US rank: #12953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Enterprise, AL
• County: Coffee County · 39,557 people
• City population: 39,557
• Metro: Enterprise, AL
• Population (ZIP): 39,557
• Household income: $75,765
• Rent vs Own: 32.4% rent · 67.6% own
• Severe rent burden: 1126.0

Population outlook (Coffee County) Hauer SSP2

• Today (2025): 53,133 people
• By 2030: 53,832 · +1.3%
• By 2040: 54,504 · +2.6%
• By 2050: 54,289 · +2.2%
• By 2075: 51,175 · -3.7%
• By 2100: 46,793 · -11.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 63% Black 17% Hispanic / Latino 13% Two or more races 9% Asian 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 3%
• Common ancestry: Italian 3% Lithuanian 2% Serbian 2%
• Foreign-born: 6% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 2%

Political lean MEDSL · Coffee

• 2024 margin: Solid R (+57.9) · D 20.7% · R 78.6%
• 2008→2024 swing: -9.0pp toward R · 2008: -48.9pp · 2024: -57.9pp
• All cycles: 2024: R+57.9 2020: R+53.1 2016: R+56.7 2012: R+49.4 2008: R+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -44.44%
• Current HPI: 184.0163
• Rent YoY: ▲ 3.92%
• Metro: Enterprise, 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

2 events — show timeline

• 2026-03-19 Contingent — WBR
• 2025-11-13 Listed $145,500 WBR

Property tax history

+3.7%/yr

Latest (2025): $1,038 · +2.8% YoY. Source: county tax records.