Calhoun County is a low-entry-price but unproven-income case. Zillow’s 2026-06 median home value was $104,959, up 14.37% year over year. That combination merits investigation by operators able to verify unit rents, flood exposure and tenant depth before bidding, but caution for buyers needing demonstrated yield or broad resale liquidity. No FHFA annual HPI observation is published, so a repeat-transaction index cannot corroborate or challenge Zillow’s direction.
Measured market rent is not published; therefore gross yield cannot be computed. HUD’s $869 two-bedroom Fair Market Rent is a payment standard, not a market asking-rent estimate, and cannot supply the missing income. The effective property-tax rate is 0.42%; this is a carrying-cost input alongside, rather than a measure of, the observed home value. The modeled climate-loss ratio is 0.23% of building value per year, with inland flood named as the dominant hazard; neither identifies a parcel’s insurability or actual loss.
The 2025 QCEW record shows 1,205 annual covered jobs at county workplaces and a $1,077 average weekly covered-worker wage; it is neither resident employment nor an unemployment measure. Education and health services is the largest disclosed private supersector, representing 34.14% of private covered jobs, not the entire economy. At the same 2026-06 label, Realtor.com’s MLS record had 14 active listings, a 25.93% pending-to-active ratio, and 75 median days on market. These are visible asking-market supply and marketing-time indicators, not closed-sale prices or independent proof of buyer demand.
Tax-return migration showed a net outflow of 15 households, while incoming movers’ average AGI was $650 below that of outgoing movers. One investor purchase among 21 total purchases suggests limited observed investor participation, but the small transaction base restricts interpretation of buyer competition. The central next checks are property-level achieved rents and lease-up evidence, flood-zone and insurance quotes, tax assessments, and closed-sale comparables; absent rent prevents yield underwriting, while absent FHFA and parcel-level hazard data prevent a cross-method price check and a site-specific risk conclusion.