4023 28th Ave · Phenix City, AL 36867

$115,900

3 bd · 2.0 ba · 2,689 sqft · SingleFamily public records · 2 Days on market

Built 1991 0.50 ac lot ↓ 45% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This adorable home features hardwood floors, a sunroom and a huge workshop! The great room features a beautiful fireplace, hardwood floors and two ceiling fans. The large kitchen hosts a center island with glass top range, sliding barn door that opens up to the spacious pantry, skylight windows and separate breakfast area and dining room. Stainless steel fridge passes with sale! Master bathroom features dual vanity and separate tub and shower. The sunroom, located on the back of the home, opens up to a cozy deck that overlooks the spacious backyard. Double, detached garage/workshop is perfect for storage and accomplishing weekend projects at home! Workshop has an attached covered carport as well as a covered patio out back, great for entertaining! Charming 3 bed, 2 1/2 bathroom home located in Phenix City!

Key facts

• Skylight windows
• Newer roof
• Sliding barn door

Tags

• NEWER ROOF
• NEWER WINDOWS
• HARDWOOD FLOORS
• CENTER ISLAND
• SKYLIGHT WINDOWS
• SLIDING BARN DOOR

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $543 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $116k).
• Cap rate 11.9% vs local median 5.0% 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: schools D+, crime F, amenities 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.
• Market conditions: Rents rising fast (+5.3%/yr); 217 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 183 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($48k/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 $801 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $115,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.47% ✓
• Cap rate: 11.91%
• Cash-on-cash: 20.06%
• DSCR: 1.89
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $376,460
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2708 Sawgrass Ln	0.10mi	4/2.5 (+1)	2,500 (-7%)	11mo	$385,000	$154	67
3005 Clover Ct	0.38mi	3/2.5	2,618 (-3%)	12mo	$359,000	$137	66
3814 Brookwood Cir	0.39mi	3/3.0	2,501 (-7%)	1mo	$350,000	$140	65
2 Lakewood Cir	0.16mi	4/3.0 (+1)	2,490 (-7%)	7mo	$335,000	$135	65
2760 Sawgrass Ln	0.09mi	4/2.5 (+1)	2,300 (-14%)	0mo	$360,000	$157	64
4012 27th Ave	0.03mi	4/2.5 (+1)	2,325 (-14%)	6mo	$315,000	$135	64
3904 26th Avenue Ave	0.31mi	3/3.0	2,447 (-9%)	4mo	$265,000	$108	64
3215 Silver Lake Dr	0.70mi	4/3.5 (+1)	2,701 (+0%)	4mo	$362,458	$134	52
2807 Creekstone Dr	0.59mi	3/2.5	2,842 (+6%)	11mo	$393,000	$138	52
3704 Cascade Way	0.39mi	3/2.5	2,312 (-14%)	11mo	$355,000	$154	47
3207 Saint Clair Dr	0.58mi	3/2.5	2,301 (-14%)	1mo	$330,000	$143	46
30 Silver Leaf Loop	0.64mi	4/3.0 (+1)	2,440 (-9%)	2mo	$370,000	$152	44

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: 14.9%
• Equity multiple: 1.61×
• Total profit: $19,907
• Equity at exit: $17,281

10-year hold

• IRR: 25.3%
• Equity multiple: 3.45×
• Total profit: $79,598
• Equity at exit: $10,021

Cash invested: $32,452 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,709 medium
• Mortgage (P&I): −$608
• Tax from tax record: −$151 /mo · $1,815/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $543

Break-even live

Break-even rent $1,022

Max offer price $115,900

Occupancy floor 63%

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	21d	1	0.56mi

Listing history 6 events

1. 2026-03-18
   status Pending
2. 2026-03-15
   listed $115,900 Active
3. 2021-05-06
   soldstatus $254,900 817-char remark

   Show marketing remark (817 chars)

   This adorable home features hardwood floors, a sunroom and a huge workshop! The great room features a beautiful fireplace, hardwood floors and two ceiling fans. The large kitchen hosts a center island with glass top range, sliding barn door that opens up to the spacious pantry, skylight windows and separate breakfast area and dining room. Stainless steel fridge passes with sale! Master bathroom features dual vanity and separate tub and shower. The sunroom, located on the back of the home, opens up to a cozy deck that overlooks the spacious backyard. Double, detached garage/workshop is perfect for storage and accomplishing weekend projects at home! Workshop has an attached covered carport as well as a covered patio out back, great for entertaining! Charming 3 bed, 2 1/2 bathroom home located in Phenix City!

4. 2021-05-05
   soldstatus $254,900
5. 2021-04-09
   listed $254,900 817-char remark

   Show marketing remark (817 chars)

   This adorable home features hardwood floors, a sunroom and a huge workshop! The great room features a beautiful fireplace, hardwood floors and two ceiling fans. The large kitchen hosts a center island with glass top range, sliding barn door that opens up to the spacious pantry, skylight windows and separate breakfast area and dining room. Stainless steel fridge passes with sale! Master bathroom features dual vanity and separate tub and shower. The sunroom, located on the back of the home, opens up to a cozy deck that overlooks the spacious backyard. Double, detached garage/workshop is perfect for storage and accomplishing weekend projects at home! Workshop has an attached covered carport as well as a covered patio out back, great for entertaining! Charming 3 bed, 2 1/2 bathroom home located in Phenix City!

6. 1996-07-24
   soldstatus $211,363

ⓘ 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: $1,815 · $151/mo
• Projected year-2 tax: $1,815 · $151/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 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $20,506
• − Mortgage interest: −$6,492
• − Property taxes: −$1,815
• − Insurance: −$580
• − Repairs & maintenance: −$1,640
• − Management: −$1,640
• − Depreciation: −$3,372
• Taxable income: $4,966
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $5,319/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

-45.2% since first listed

6 events — show timeline

• 2026-03-18 Pending — EABOR
• 2026-03-15 Listed $115,900 EABOR
• 2021-05-06 Sold (MLS) $254,900 EABOR
• 2021-05-05 Sold (Public Records) $254,900 Public Records
• 2021-04-09 Listed $254,900 EABOR
• 1996-07-24 Sold (Public Records) $211,363 Public Records

Property tax history

+6.0%/yr

Latest (2025): $1,815 · +6.1% YoY. Source: county tax records.