504 S Cherry St · Dothan, AL 36301

$45,900

2 bd · 1.0 ba · 1,341 sqft · SingleFamily public records · 2 Days on market

Built 1940 0.52 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

Charming 1940 farmhouse with original character on just over a half acre. This 2-bedroom, 1-bath home features a dedicated dining room, an eat-in kitchen, and original hardwood floors throughout most of the home. A large barn with attached carport provides great storage and project space; note the barn doors are currently boarded due to unsafe flooring inside. The property is being sold As Is, offering a solid opportunity for renovation or investment.

Key facts

• Great storage
• Attached carport
• Eat-in kitchen

Tags

• DEDICATED DINING ROOM
• EAT-IN KITCHEN
• ORIGINAL HARDWOOD FLOORS
• LARGE BARN
• ATTACHED CARPORT
• GREAT STORAGE

Property features AI

Exterior

• Parking: Detached carport; 1 covered parking space (carport); 1 total parking space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Fiber cement construction
• Exterior features: On waterfront; Barn(s); No patio or porch

Interior

• Kitchen: Range
• Flooring: Carpet; Wood; Laminate
• Bathrooms: 1 full bathroom
• Interior features: Eat-in kitchen; Aluminum window frames
• Laundry & utility: Indoor laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Cap rate 21.1% 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 Preparatory Academy (math 12% / reading 38%, grade F, #163 of 257 statewide, top 64%, 1,133 students, 78% FRL); Dothan High School (math 16% / reading 24%, grade F, #163 of 305 statewide, top 54%, 1,454 students, 70% FRL) — zoned schools average 81% FRL vs 59% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 410 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $317 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,900

Questions for the listing agent

1. Built in 1940 — 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: 2.30% ✓
• Cap rate: 21.05%
• Cash-on-cash: 52.71%
• DSCR: 3.35
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $146,169
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1204 Judson St	0.68mi	3/2.0 (+1)	1,216 (-9%)	5mo	$132,000	$109	40
1047 Third Ave	0.65mi	3/1.5 (+1)	1,216 (-9%)	22mo	$70,000	$58	28

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: 50.7%
• Equity multiple: 3.22×
• Total profit: $28,504
• Equity at exit: $6,844

10-year hold

• IRR: 56.1%
• Equity multiple: 6.53×
• Total profit: $71,064
• Equity at exit: $3,969

Cash invested: $12,852 (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 36301

• Home prices YoY: -24.9%
• Active inventory: 410
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,055 high
• Mortgage (P&I): −$241
• Tax from tax record: −$9 /mo · $110/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $565

Break-even live

Break-even rent $340

Max offer price $45,900

Occupancy floor 41%

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: $11,475
• Closing costs: $1,377
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 S Ussery St Dothan, AL	3.0	1.0	934	$895	$0.96	43d	1	0.16mi
193 S Saint Andrews St Dothan, AL	2.0	2.0	1100	$2,100	$1.91	43d	1	0.47mi
310 W Lafayette St Dothan, AL	3.0	1.0	1459	$995	$0.68	43d	1	0.66mi
1000 Fairlane Dr Dothan, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	0.76mi
1301 Alexander Dr Dothan, AL	1.0–2.0	1.0–1.5	833	$795	$0.95	43d	1	0.89mi
306 Mustang Dr Dothan, AL	3.0	1.0	1301	$1,050	$0.81	43d	1	0.97mi
1009 Jonathan St Dothan, AL	3.0	1.5	1318	$1,300	$0.99	43d	1	0.99mi
1581 E Selma St Aurora, AL	3.0	1.5	1426	$1,149	$0.81	43d	1	1.04mi
131 Hedstrom Dr Greenwood, AL	3.0	2.0	1526	$1,400	$0.92	43d	1	1.19mi
403 Holly Ln Dothan, AL	2.0	1.0–2.0	1175	$1,350	$1.15	43d	4	1.31mi

Listing history 1 events

1. 2026-05-26
   listed $45,900 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: $110 · $9/mo
• Projected year-2 tax: $188 · $16/mo
• Expected delta: +$78/yr (+$7/mo · 71.3%)

ⓘ 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 7/10 Severe 6 d/yr ≥107°F today · 17 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: $12,661
• − Mortgage interest: −$2,571
• − Property taxes: −$110
• − Insurance: −$230
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$1,335
• Taxable income: $6,390
• Est. tax owed @ 24.0%: −$1,533
• After-tax cash flow: $5,241/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
• City population: 47,783
• Population (ZIP): 38,627

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 0.55)
• Race & ethnicity: White 59% Black 31% Hispanic / Latino 5% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -53.46%
• Current HPI: 161.1212
• 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

1 event — show timeline

• 2026-05-26 Listed $45,900 SAMLS

Property tax history

+6.5%/yr

Latest (2025): $110 · +4.1% YoY. Source: county tax records.