5635 N US Highway 29 · Opelika, AL 36804

$199,900

3 bd · 2.0 ba · 2,016 sqft · Manufactured public records · 15 Days on market

Built 1993 5.06 ac lot $99/sqft · 5% below area Est $191k · at est.

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Why this score? — see what drove the D 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 +15.9/30.0
• ARV discount +5.3/15.0
• DSCR +4.9/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What if you could have space, privacy, and a fully updated home just minutes from everything? Tucked away in Beulah on 5 beautiful acres surrounded by trees, this 3 bedroom 2 bath home gives you the freedom and peace you have been looking for while staying conveniently close to everyday amenities. Located just 5 miles from the Opelika Sportsplex and only 10 miles from Tigertown, you get the best of both worlds with quiet country living and quick access to shopping, dining, and recreation. Inside, you will find a completely updated interior with a new roof, HVAC, and water heater, so you can move in with confidence. The kitchen stands out with granite countertops, updated cabinets, and stainless steel appliances including a refrigerator and dishwasher, making it both functional and inviting. The split floorplan offers privacy with the primary suite on one side along with a flexible room perfect for an office or den, while the additional bedrooms are on the opposite side with a bonus space ideal for a playroom, hobby room, or extra living area. Enjoy multiple living spaces including a living room with a fireplace, a separate dining room, and a breakfast area that fits your daily routine. Step outside and experience the real value with 5 acres of land, mature trees, and room to create the lifestyle you want. If you have been searching for a move in ready home with land near Opelika that offers privacy, flexibility, and modern updates, this one checks every box. Schedule your private showing today and come see it for yourself.

Key facts

• Hvac
• Updated cabinets
• Water heater

Tags

• UPDATED INTERIOR
• NEW ROOF
• HVAC
• WATER HEATER
• GRANITE COUNTERTOPS
• UPDATED CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $200k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/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 $162k (18.9% below list).
• Recommended offer: $162k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.8% in Opelika — 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 63/100 on livability (#188 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Lee County (rural): math 23% / reading 47% proficiency, ranked #40 of 129 in AL (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Beulah Elementary School (math 23% / reading 47%, grade F, #291 of 627 statewide, top 47%, 705 students, 72% FRL); Sanford Middle School (math 27% / reading 46%, grade F, #76 of 257 statewide, top 31%, 545 students, 74% FRL); Beulah High School (math 9% / reading 35%, grade F, #142 of 305 statewide, top 51%, 533 students, 71% FRL) — zoned schools average 72% FRL vs 48% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 397 active listings in the ZIP; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lee County population projected at +54% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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 $26k; list at $200k implies a 669% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,218 (18.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.81% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 10.3

CMA / ARV

• ARV (median comp): $190,750
• List price: $199,900
• Delta: 4.80%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5635 N US Highway 29	0.00mi	3/2.0	1,823 (-10%)	1mo	$191,500	$105	84

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-26,343
• Equity at exit: $29,806

10-year hold

• IRR: -4.2%
• Equity multiple: 0.72×
• Total profit: $-15,416
• Equity at exit: $17,284

Cash invested: $55,972 (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 36804

• Home prices YoY: -19.0%
• Active inventory: 397
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,622 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$53 /mo · $641/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $96

Break-even live

Break-even rent $1,500

Max offer price $199,900

Occupancy floor 89%

Sensitivity live

Price	-10% $210	-5% $153	+0% $96	+5% $40	+10% $-17
Rent	-10% $-32	-5% $32	+0% $96	+5% $161	+10% $225
Rate	-1.0pp $197	-0.5pp $147	base $96	+0.5pp $45	+1.0pp $-8

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-08
   status Pending 1548-char remark

   Show marketing remark (1548 chars)

   What if you could have space, privacy, and a fully updated home just minutes from everything? Tucked away in Beulah on 5 beautiful acres surrounded by trees, this 3 bedroom 2 bath home gives you the freedom and peace you have been looking for while staying conveniently close to everyday amenities. Located just 5 miles from the Opelika Sportsplex and only 10 miles from Tigertown, you get the best of both worlds with quiet country living and quick access to shopping, dining, and recreation. Inside, you will find a completely updated interior with a new roof, HVAC, and water heater, so you can move in with confidence. The kitchen stands out with granite countertops, updated cabinets, and stainless steel appliances including a refrigerator and dishwasher, making it both functional and inviting. The split floorplan offers privacy with the primary suite on one side along with a flexible room perfect for an office or den, while the additional bedrooms are on the opposite side with a bonus space ideal for a playroom, hobby room, or extra living area. Enjoy multiple living spaces including a living room with a fireplace, a separate dining room, and a breakfast area that fits your daily routine. Step outside and experience the real value with 5 acres of land, mature trees, and room to create the lifestyle you want. If you have been searching for a move in ready home with land near Opelika that offers privacy, flexibility, and modern updates, this one checks every box. Schedule your private showing today and come see it for yourself.

2. 2026-05-02
   status Active 1548-char remark

   Show marketing remark (1548 chars)

   What if you could have space, privacy, and a fully updated home just minutes from everything? Tucked away in Beulah on 5 beautiful acres surrounded by trees, this 3 bedroom 2 bath home gives you the freedom and peace you have been looking for while staying conveniently close to everyday amenities. Located just 5 miles from the Opelika Sportsplex and only 10 miles from Tigertown, you get the best of both worlds with quiet country living and quick access to shopping, dining, and recreation. Inside, you will find a completely updated interior with a new roof, HVAC, and water heater, so you can move in with confidence. The kitchen stands out with granite countertops, updated cabinets, and stainless steel appliances including a refrigerator and dishwasher, making it both functional and inviting. The split floorplan offers privacy with the primary suite on one side along with a flexible room perfect for an office or den, while the additional bedrooms are on the opposite side with a bonus space ideal for a playroom, hobby room, or extra living area. Enjoy multiple living spaces including a living room with a fireplace, a separate dining room, and a breakfast area that fits your daily routine. Step outside and experience the real value with 5 acres of land, mature trees, and room to create the lifestyle you want. If you have been searching for a move in ready home with land near Opelika that offers privacy, flexibility, and modern updates, this one checks every box. Schedule your private showing today and come see it for yourself.

3. 2026-04-23
   status Pending 1548-char remark

   Show marketing remark (1548 chars)

   What if you could have space, privacy, and a fully updated home just minutes from everything? Tucked away in Beulah on 5 beautiful acres surrounded by trees, this 3 bedroom 2 bath home gives you the freedom and peace you have been looking for while staying conveniently close to everyday amenities. Located just 5 miles from the Opelika Sportsplex and only 10 miles from Tigertown, you get the best of both worlds with quiet country living and quick access to shopping, dining, and recreation. Inside, you will find a completely updated interior with a new roof, HVAC, and water heater, so you can move in with confidence. The kitchen stands out with granite countertops, updated cabinets, and stainless steel appliances including a refrigerator and dishwasher, making it both functional and inviting. The split floorplan offers privacy with the primary suite on one side along with a flexible room perfect for an office or den, while the additional bedrooms are on the opposite side with a bonus space ideal for a playroom, hobby room, or extra living area. Enjoy multiple living spaces including a living room with a fireplace, a separate dining room, and a breakfast area that fits your daily routine. Step outside and experience the real value with 5 acres of land, mature trees, and room to create the lifestyle you want. If you have been searching for a move in ready home with land near Opelika that offers privacy, flexibility, and modern updates, this one checks every box. Schedule your private showing today and come see it for yourself.

4. 2026-04-14
   listed $199,900 Active 1548-char remark

   Show marketing remark (1548 chars)

   What if you could have space, privacy, and a fully updated home just minutes from everything? Tucked away in Beulah on 5 beautiful acres surrounded by trees, this 3 bedroom 2 bath home gives you the freedom and peace you have been looking for while staying conveniently close to everyday amenities. Located just 5 miles from the Opelika Sportsplex and only 10 miles from Tigertown, you get the best of both worlds with quiet country living and quick access to shopping, dining, and recreation. Inside, you will find a completely updated interior with a new roof, HVAC, and water heater, so you can move in with confidence. The kitchen stands out with granite countertops, updated cabinets, and stainless steel appliances including a refrigerator and dishwasher, making it both functional and inviting. The split floorplan offers privacy with the primary suite on one side along with a flexible room perfect for an office or den, while the additional bedrooms are on the opposite side with a bonus space ideal for a playroom, hobby room, or extra living area. Enjoy multiple living spaces including a living room with a fireplace, a separate dining room, and a breakfast area that fits your daily routine. Step outside and experience the real value with 5 acres of land, mature trees, and room to create the lifestyle you want. If you have been searching for a move in ready home with land near Opelika that offers privacy, flexibility, and modern updates, this one checks every box. Schedule your private showing today and come see it for yourself.

5. 2021-04-29
   soldstatus $26,000 512-char remark

   Show marketing remark (512 chars)

   This home features 3 bedrooms, 2 bathrooms, foyer, office, living room, a cover back porch and partially fenced yard situated on a 5.14 acre lot. SOLD AS IS. SUBJECT TO RIGHTS OF REDEMPTION. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER.

6. 2021-04-01
   listed $29,900 512-char remark

   Show marketing remark (512 chars)

   This home features 3 bedrooms, 2 bathrooms, foyer, office, living room, a cover back porch and partially fenced yard situated on a 5.14 acre lot. SOLD AS IS. SUBJECT TO RIGHTS OF REDEMPTION. Please be advised that any offers on this property require a minimum Earnest Money Deposit of 1% of the Purchase Price or $1,000, whichever is greater. All initial offers must be submitted via PropOffers.com by the BUYER AGENT ONLY. BUYER'S AGENT IS TO PAY A $175.00 OFFER MANAGEMENT FEE AT CLOSING OF ANY ACCEPTED OFFER.

ⓘ 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: $641 · $53/mo
• Projected year-2 tax: $820 · $68/mo
• Expected delta: +$178/yr (+$15/mo · 27.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,466
• − Mortgage interest: −$11,198
• − Property taxes: −$641
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$5,815
• Taxable loss: −$2,302
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $1,710/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: Lee County
• NCES district ID: 0102070
• Math proficiency: 23% ▼ -27.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $47,786
• Composite: 30.04/100
• National rank: #6355
• State rank: #40 of 129 in AL

Livability — Opelika

• Score: 63/100
• State rank: #188
• US rank: #15556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 144,175 people
• City population: 45,973
• Metro: Auburn-Opelika, AL
• Population (ZIP): 20,535
• Household income: $61,880
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 399.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 196,440 people
• By 2030: 217,417 · +10.7%
• By 2040: 259,467 · +32.1%
• By 2050: 301,557 · +53.5%
• By 2075: 402,186 · +104.7%
• By 2100: 474,503 · +141.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 27% Hispanic / Latino 8% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% Korean 1% Other Indo-European 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+27.8) · D 35.5% · R 63.3% · Other 1.2%
• 2008→2024 swing: -8.1pp toward R · 2008: -19.8pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+20.1 2016: R+23.1 2012: R+19.9 2008: R+19.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -49.83%
• Current HPI: 212.8718
• Rent YoY: —
• Metro: Auburn-Opelika, AL
• 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

+568.6% since first listed

6 events — show timeline

• 2026-05-08 Pending — LCMLS
• 2026-05-02 Relisted — LCMLS
• 2026-04-23 Pending — LCMLS
• 2026-04-14 Listed $199,900 LCMLS
• 2021-04-29 Sold (MLS) $26,000 LCMLS
• 2021-04-01 Listed $29,900 LCMLS

Property tax history

+5.1%/yr

Latest (2025): $641 · +7.0% YoY. Source: county tax records.