Rent to Own Homes in Enterprise
By 1918 cotton farmers in Coffee County were losing entire crops to the boll weevil, a beetle indigenous to Mexico. As a result, they began planting peanuts to try... Read More
By 1918 cotton farmers in Coffee County were losing entire crops to the boll weevil, a beetle indigenous to Mexico. As a result, they began planting peanuts to try to recover their losses, which proved to be a success, and this led to further diversification in crops. Cotton was still grown, but this change in farming brought profit and prosperity to the county. Within a couple of years, it was the largest peanut-producing county in the nation. So ironically, in 1919 the residents erected a monument to the insect that had initially devastated their livelihood.The below results are primarily rent to own homes in Coffee County, AL:
By 1918 cotton farmers in Coffee County were losing entire crops to the boll weevil, a beetle indigenous to Mexico. As a result, they began planting peanuts to try... Read More
By 1918 cotton farmers in Coffee County were losing entire crops to the boll weevil, a beetle indigenous to Mexico. As a result, they began planting peanuts to try to recover their losses, which proved to be a success, and this led to further diversification in crops. Cotton was still grown, but this change in farming brought profit and prosperity to the county. Within a couple of years, it was the largest peanut-producing county in the nation. So ironically, in 1919 the residents erected a monument to the insect that had initially devastated their livelihood.The below results are primarily rent to own homes in Coffee County, AL:
Enterprise is a city of 28,000 in southeastern Alabama. It is the main city in the Enterprise Micropolitan Statistical Area, and the eastern side of the city spills over into Dale County. And it is centrally located between the state capital of Montgomery, Pensacola, and Tallahassee. The beautiful Gulf shores of Fort Walton Beach, Miramar Beach, and Panama City Beach are less than two hours away.
Buying a Home in Enterprise
With the median home cost at just $117,400, Enterprise is an affordable place to live. That figure is a full 37 percent below the national average. Current home listings range from $15,000 to $595,000. Sixty-nine percent of the residential real estate is owner occupied, and the overall cost of living is over 13 percent below the national average.
The median age of the city’s residents is 36.3, and about 50 percent of the population is married. The median income for a household is approximately $51,700.
Enterprise City Schools serves the city’s educational needs, which includes an early education center, six elementary schools, two junior high schools, and Enterprise High School. The schools are rated highly by GreatSchools, with most garnering a rating between 7 and 9 (out of 10). Enterprise State Community College, a two-year college, is also located in the city.
Popular Neighborhoods in Enterprise
The city is comprised of eight constituent neighborhoods. The northernmost neighborhood, the Ozark Hwy/County Rd 89 area, is comprised mainly of medium- to large-sized single-family homes and townhomes, and most is owner occupied. It is a fairly new neighborhood, with many residences built since 2000. Additionally, it is rated in the top five percent of family-friendly neighborhoods in the state. The median home cost is about $214,500.
The southeast corner of Enterprise is the Central City/Keyton neighborhood. The residential real estate is mainly small- to medium-sized single family-homes and mobile homes. It is rated in the top nine percent of retiree-friendly neighborhoods in Alabama. The median home cost is about $192,000.
Buying vs. Rent to Own Homes
It’s no surprise if Enterprise’s southern charm and low housing cost already sound attractive. Buying a home, though, can be out of reach for some. As a result, many are opting for rent-to-own housing options. Each month, a portion of the rent is set aside toward a down payment, and after the tenants have lived in the home for a certain period of time, they have the option to buy. It’s doesn’t require a large outlay of cash as a down payment, and those who start out renting can eventually purchase the home in which they live.
Summary
The mild climate and southern hospitality of Enterprise make it a pleasant place to live. The city is the perfect size – big enough to offer the amenities you want, but small enough to avoid the traffic congestion, noise, and pollution that are so common to large cities. If you are looking for a place to settle and put down roots, Enterprise is a city worth looking at.
Rent to Own Realtors
Using a realtor for your rent to own deal can offer great benefits. Agents are well versed in real estate so they can effectively communicate opportunities and discern which of those opportunities is a legitimately good deal.
Nonetheless, not a lot of realtors will want to help with your rent to own deal because upfront profit for a realtor is minimal and the big payout down the line is not a guarantee.
That means you’ll have to do a little research to ensure that you make the best decisions, but you will save money on commission.
About Our Listings
Rent to Own Labs offers more than free listings for rent to buy houses.
Our website also includes real estate owned properties, which are bank-owned foreclosed homes that didn’t sell at auction. You can buy these types of properties for cheap prices because the bank isn’t in the business of real estate; it’s just looking to get rid of the condo, townhouse, etc. that it has on the book.
Sellers directly list rent to own by owner apartments and houses as lease-option or lease-purchase programs with no credit check. On lease to purchase contracts, the buyer is contractually obligated to buy the home, and on lease to own contracts, the buyer is financially motivated. It doesn’t matter to the seller if you have a bad credit score because they know you have a lot at risk if you don’t buy the home you’re renting to own.
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