200 Myrick Dr

Enterprise, AL 36330

$112,000B

4 bd · 2.0 ba · 2,086 sqft · Built 1983 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,709/mo
• Mortgage (P&I): −$587
• Tax + insurance: −$187
• HOA: −$0
• Vac / Maint / Mgmt: −$359
• Net cashflow: $576/mo
• Annual: $6,916/yr
• Cap rate: 12.47%
• Cash-on-cash: 22.05%
• DSCR: 1.98
• 1% rule: 1.53%
• Cash to close: $31,360

Investor read

• This is a 4-bed/2.0-bath single-family listed at $112k.
• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $774 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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); 441 active listings in the ZIP; 8 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; solid renter incomes; 137 units permitted in Coffee County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.5% vs local median 4.2% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.