1929 SW 22nd St · Lanett, AL 36863

$30,000

2 bd · 1.0 ba · 851 sqft · SingleFamily public records · 31 Days on market

Built 1948 10,019 sqft lot $35/sqft · 32% below area Est $41k · 27% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Key facts

• 0.23 acre lot
• Built 1948
• Listed 31 days

Property features AI

Finance

• Other: Directions: From downtown Lanett, head southwest on N Lanier Avenue. Turn left onto 22nd Street SW. Continue straight and the property will be located on your right at 1929 22nd Street SW.
• HOA & community: No association amenities

Exterior

• Utilities: Electricity available
• Home design: Residential property; Single-story; Clapboard exterior; Slab foundation
• Construction: Built with clapboard siding; Slab foundation
• Exterior features: No fencing; 0.23-acre lot

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: No heating; No cooling
• Interior features: One-level living; 792 above-grade finished area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($846 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.2% vs local median 5.9% in Lanett — 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 (#301 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Lanett City (town): math 5% / reading 19% proficiency, ranked #117 of 129 in AL (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 87% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W O Lance Elementary (math 6% / reading 23%, grade F, #528 of 627 statewide, top 84%, 573 students, 87% FRL); Lanett Junior High School (math 2% / reading 17%, grade F, #227 of 257 statewide, top 90%, 155 students, 96% FRL); Lanett Senior High School (math 5% / reading 5%, grade F, #276 of 305 statewide, top 95%, 235 students, 94% FRL).
• Market conditions: 107 active listings in the ZIP; 43 units permitted in Chambers County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Chambers County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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 F-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. 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?
6. 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.
7. 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.
8. 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: 2.82% ✓
• Cap rate: 25.20%
• Cash-on-cash: 67.51%
• DSCR: 4.00
• GRM: 3.0

CMA / ARV

• ARV (median comp): $40,998
• List price: $30,000
• Delta: -26.83%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1902 18th St SW	0.11mi	2/1.0	897 (+5%)	7mo	$19,950	$22	80
1921 22nd Ave SW	0.31mi	2/1.0	950 (+12%)	11mo	$45,000	$47	57
2412 16th Ave SW	0.30mi	3/1.0 (+1)	760 (-11%)	9mo	$40,500	$53	56

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: 66.9%
• Equity multiple: 4.00×
• Total profit: $25,241
• Equity at exit: $4,473

10-year hold

• IRR: 71.1%
• Equity multiple: 8.23×
• Total profit: $60,757
• Equity at exit: $2,594

Cash invested: $8,400 (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 36863

• Home prices YoY: -29.1%
• Active inventory: 107
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $846 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $473

Break-even live

Break-even rent $247

Max offer price $30,000

Occupancy floor 39%

Sensitivity live

Price	-10% $490	-5% $481	+0% $473	+5% $464	+10% $456
Rent	-10% $406	-5% $439	+0% $473	+5% $506	+10% $539
Rate	-1.0pp $488	-0.5pp $480	base $473	+0.5pp $465	+1.0pp $457

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-07
   statusdays on market $30,000 Pending 31 DOM
2. 2026-06-04
   days on market $30,000 Active 29 DOM
3. 2026-06-02
   days on market $30,000 Active 28 DOM
4. 2026-06-01
   days on market $30,000 Active 27 DOM
5. 2026-05-31
   days on market $30,000 Active 26 DOM
6. 2026-05-31
   days on market $30,000 Active 25 DOM
7. 2026-05-13
   status Pending 637-char remark
8. 2026-04-28
   listed $60,000 Active 637-char remark

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $308 · $26/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,147
• − Mortgage interest: −$1,680
• − Property taxes: −$308
• − Insurance: −$150
• − Repairs & maintenance: −$812
• − Management: −$812
• − Depreciation: −$873
• Taxable income: $5,513
• Est. tax owed @ 24.0%: −$1,323
• After-tax cash flow: $4,348/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: Lanett City
• NCES district ID: 0101980
• Math proficiency: 5% ▼ -19.00%
• Reading proficiency: 19% ▼ -4.00%
• Median HH income: $27,834
• Composite: 9.11/100
• National rank: #9866
• State rank: #117 of 129 in AL

Livability — Lanett

• Score: 60/100
• State rank: #301
• US rank: #19159

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: Lanett, AL
• Population (ZIP): 12,335

Population outlook (Chambers County) Hauer SSP2

• Today (2025): 33,868 people
• By 2030: 33,504 · -1.1%
• By 2040: 32,594 · -3.8%
• By 2050: 31,422 · -7.2%
• By 2075: 29,054 · -14.2%
• By 2100: 25,431 · -24.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 46% Black 45% Hispanic / Latino 6% Two or more races 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Chambers

• 2024 margin: Strong R (+23.2) · D 38.0% · R 61.2%
• 2008→2024 swing: -14.8pp toward R · 2008: -8.5pp · 2024: -23.2pp
• All cycles: 2024: R+23.2 2020: R+15.6 2016: R+14.8 2012: R+5.1 2008: R+8.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.32%
• Current HPI: 154.4174
• 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

-61.7% since first listed

6 events — show timeline

• 2026-06-15 Sold (MLS) $23,000 LCMLS
• 2026-06-05 Pending — LCMLS
• 2026-05-26 Price Changed $30,000 LCMLS
• 2026-05-19 Relisted — LCMLS
• 2026-05-13 Pending — LCMLS
• 2026-04-28 Listed $60,000 LCMLS

Property tax history

+5.3%/yr

Latest (2025): $308 · +0.0% YoY. Source: county tax records.