603 Carr Cir · Headland, AL 36345

$178,000

3 bd · 1.0 ba · 1,375 sqft · SingleFamily public records · 37 Days on market

Built 1975 0.30 ac lot $129/sqft · 15% below area Est $209k · 15% 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 +22.0/30.0
• ARV discount +14.2/15.0
• DSCR +7.0/10.0
• 1% rule +4.5/10.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful family home located in established Headland neighborhood! This home features updates such as new LVP flooring, countertops, paint, appliances, and pole barn. Garage is closed in to provide a bonus room / office space! The open floor plan creates a great space for entertaining! Come see this adorable home today!!

Key facts

• Pole barn
• Big back yard
• New paint

Tags

• ELECTRIC FIREPLACE
• LVP FLOORING
• NEW PAINT
• POLE BARN
• NEW FENCE
• BIG BACK YARD

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick construction
• Exterior features: Covered porch/patio; On waterfront

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Electric water heater
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Eat-in kitchen; Wood window frames; Electric fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $178k.

Deal economics

• At list price, monthly cash flow is $283 ($3k/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 $170k (4.7% below list).
• Recommended offer: $170k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 3.8% in Headland — 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 66/100 on livability (#101 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D, amenities F, commute F.
• Henry County (rural): math 21% / reading 45% proficiency, ranked #55 of 129 in AL (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Headland Elementary School (math 39% / reading 59%, grade D, #132 of 627 statewide, top 21%, 858 students, 48% FRL); Headland Middle School (math 16% / reading 58%, grade F, #73 of 257 statewide, top 29%, 576 students, 47% FRL); Headland High School (math 17% / reading 27%, grade F, #142 of 305 statewide, top 51%, 412 students, 49% FRL).
• Market conditions: 172 active listings in the ZIP; 71 units permitted in Henry 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 $5k of value loss. Plan a longer hold.
• Henry County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $138k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $169,670 (4.7% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.95% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (median comp): $208,958
• List price: $178,000
• Delta: -14.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Armstrong St	0.02mi	3/1.5	1,462 (+6%)	10mo	$181,100	$124	78
137 Gracebrook Ct	0.37mi	3/2.0	1,357 (-1%)	1mo	$220,000	$162	75
110 Willow Way	0.67mi	3/2.0	1,378 (+0%)	2mo	$215,000	$156	63
211 W King St	0.62mi	3/2.0	1,274 (-7%)	3mo	$175,000	$137	53
115 Willow Way	0.62mi	3/2.0	1,484 (+8%)	2mo	$225,000	$152	52
114 Aubrey Ave	0.55mi	4/2.0 (+1)	1,504 (+9%)	3mo	$219,900	$146	48
107 Willow Way	0.65mi	4/2.0 (+1)	1,448 (+5%)	9mo	$230,000	$159	45
100 Asher Cir	0.57mi	4/2.0 (+1)	1,497 (+9%)	7mo	$230,460	$154	44
278 Solomon Rd	0.63mi	3/2.0	1,522 (+11%)	7mo	$236,500	$155	43
108 Sagebrush Dr	0.54mi	4/2.0 (+1)	1,497 (+9%)	10mo	$239,900	$160	43
106 Asher Cir	0.59mi	4/2.0 (+1)	1,497 (+9%)	9mo	$241,375	$161	41
115 Cabrio Way	0.69mi	3/2.0	1,527 (+11%)	12mo	$289,500	$190	35

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-10,875
• Equity at exit: $26,540

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $13,443
• Equity at exit: $15,390

Cash invested: $49,840 (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 36345

• Home prices YoY: -16.0%
• Active inventory: 172
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,697 medium
• Mortgage (P&I): −$933
• Tax from tax record: −$49 /mo · $593/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $283

Break-even live

Break-even rent $1,338

Max offer price $178,000

Occupancy floor 78%

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: $44,500
• Closing costs: $5,340
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-15
   statusdays on market $178,000 Pending 37 DOM
2. 2026-06-14
   days on market $178,000 Active 36 DOM
3. 2026-06-12
   statusdays on market $178,000 Active 35 DOM
4. 2026-06-03
   statusdays on market $178,000 Pending 33 DOM
5. 2026-06-02
   days on market $178,000 Active 32 DOM
6. 2026-06-01
   days on market $178,000 Active 31 DOM
7. 2026-05-31
   days on market $178,000 Active 30 DOM
8. 2026-05-30
   days on market $178,000 Active 29 DOM
9. 2026-05-08
   price $178,000 261-char remark
10. 2026-05-01
    listed $183,000 Active 261-char remark
11. 2022-01-28
    soldstatus $137,900 323-char remark

    Show marketing remark (323 chars)

    Beautiful family home located in established Headland neighborhood! This home features updates such as new LVP flooring, countertops, paint, appliances, and pole barn. Garage is closed in to provide a bonus room / office space! The open floor plan creates a great space for entertaining! Come see this adorable home today!!

12. 2022-01-27
    soldstatus $137,900
13. 2020-06-22
    soldstatus $50,000
14. 2003-09-19
    soldstatus $50,000

ⓘ 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: $593 · $49/mo
• Projected year-2 tax: $730 · $61/mo
• Expected delta: +$137/yr (+$11/mo · 23.2%)

ⓘ 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 ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,360
• − Mortgage interest: −$9,971
• − Property taxes: −$593
• − Insurance: −$890
• − Repairs & maintenance: −$1,629
• − Management: −$1,629
• − Depreciation: −$5,178
• Taxable income: $471
• Est. tax owed @ 24.0%: −$113
• After-tax cash flow: $3,288/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: Henry County
• NCES district ID: 0101740
• Math proficiency: 21% ▼ -15.00%
• Reading proficiency: 45% ▲ 3.00%
• Median HH income: $41,502
• Composite: 27.78/100
• National rank: #6894
• State rank: #55 of 129 in AL

Livability — Headland

• Score: 66/100
• State rank: #101
• US rank: #11540

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Headland, AL
• City population: 8,838
• Population (ZIP): 8,838

Population outlook (Henry County) Hauer SSP2

• Today (2025): 17,109 people
• By 2030: 16,928 · -1.1%
• By 2040: 16,376 · -4.3%
• By 2050: 15,778 · -7.8%
• By 2075: 14,491 · -15.3%
• By 2100: 12,673 · -25.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 16% Two or more races 2% Hispanic / Latino 2% Asian 1%
• Common ancestry: Slovak 2% Iranian 1% Romanian 1%
• Foreign-born: 1% · Vietnam

Political lean MEDSL · Henry

• 2024 margin: Solid R (+50.8) · D 24.3% · R 75.1%
• 2008→2024 swing: -21.1pp toward R · 2008: -29.7pp · 2024: -50.8pp
• All cycles: 2024: R+50.8 2020: R+43.0 2016: R+41.6 2012: R+29.4 2008: R+29.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -40.45%
• Current HPI: 213.0749
• 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

+256.0% since first listed

9 events — show timeline

• 2026-06-15 Pending — SAMLS
• 2026-06-10 Relisted — SAMLS
• 2026-06-03 Pending — SAMLS
• 2026-05-08 Price Changed $178,000 SAMLS
• 2026-05-01 Listed $183,000 SAMLS
• 2022-01-28 Sold (MLS) $137,900 SAMLS
• 2022-01-27 Sold (Public Records) $137,900 Public Records
• 2020-06-22 Sold (Public Records) $50,000 Public Records
• 2003-09-19 Sold (Public Records) $50,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $593 · +4.5% YoY. Source: county tax records.