356 Lee Road 831 · Smiths Station, AL 36874

$107,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 144 Days on market

Built 1985 $101/sqft · 45% below area Est $178k · 40% under ↓ 4% since listing

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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 +3.2/5.0
• 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

COMP USE ONLY

Key facts

• Fully bricked
• Barn
• Kitchen remodeled

Tags

• TWO ACRE LOT
• FULLY BRICKED
• KITCHEN REMODELED
• NEWLY RENOVATED BATHROOMS
• BARN
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $107k.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $107k).
• Recommended offer: $94k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 3.5% in Smiths Station — 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 65/100 on livability (#129 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, employment D, 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.
• Market conditions: 125 active listings in the ZIP; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $740 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% 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 $94,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.88% ✓
• Cap rate: 16.95%
• Cash-on-cash: 38.05%
• DSCR: 2.69
• GRM: 4.4

CMA / ARV

• ARV (median comp): $177,613
• List price: $107,000
• Delta: -39.76%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.1%
• Equity multiple: 2.44×
• Total profit: $43,142
• Equity at exit: $15,954

10-year hold

• IRR: 41.0%
• Equity multiple: 4.85×
• Total profit: $115,363
• Equity at exit: $9,251

Cash invested: $29,960 (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 36874

• Home prices YoY: -28.1%
• Active inventory: 125
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,015 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$36 /mo · $433/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $950

Break-even live

Break-even rent $812

Max offer price $107,000

Occupancy floor 48%

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: $26,750
• Closing costs: $3,210
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $107,000 Active 144 DOM
2. 2026-06-17
   days on market $107,000 Active 143 DOM
3. 2026-06-16
   days on market $107,000 Active 142 DOM
4. 2026-06-15
   days on market $107,000 Active 141 DOM
5. 2026-06-14
   days on market $107,000 Active 139 DOM
6. 2026-06-13
   days on market $107,000 Active 138 DOM
7. 2026-06-10
   days on market $107,000 Active 136 DOM
8. 2026-06-09
   days on market $107,000 Active 135 DOM
9. 2026-06-08
   days on market $107,000 Active 134 DOM
10. 2026-06-07
    days on market $107,000 Active 133 DOM
11. 2026-06-05
    days on market $107,000 Active 130 DOM
12. 2026-06-03
    days on market $107,000 Active 129 DOM
13. 2026-06-02
    days on market $107,000 Active 128 DOM
14. 2026-06-01
    days on market $107,000 Active 127 DOM
15. 2026-05-31
    days on market $107,000 Active 126 DOM
16. 2026-05-30
    days on market $107,000 Active 125 DOM
17. 2026-04-13
    soldstatus $115,000 13-char remark

    Show marketing remark (13 chars)

    COMP USE ONLY

18. 2026-01-21
    listed $107,000 Active 883-char remark

    Show marketing remark (883 chars)

    This charming three-bedroom, two-bathroom home sits on a beautiful two-acre lot, offering both space and privacy. Originally a mobile home, it was fully bricked in 2017, giving it the solid look and feel of a traditional house while maintaining its warm, cozy character. The kitchen was completely remodeled in 2023 and features a brand-new design with modern finishes, along with updated appliances that make cooking and entertaining easy. Both bathrooms have also been newly renovated, adding style and comfort throughout the home. Outside, the property truly shines with wide open land and a barn, making it ideal for animals, storage, or hobby use. With peaceful surroundings, plenty of room to roam, and a welcoming atmosphere, this home offers the perfect blend of country living and everyday comfort. Slightly under 2 acres. A new roof was added during the remodeling process.

19. 2025-08-06
    price $112,000
20. 2025-06-02
    price $113,000
21. 2025-05-15
    price $114,000
22. 2025-04-15
    price $115,000
23. 2025-02-13
    listed $120,000 Active

ⓘ 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: $433 · $36/mo
• Projected year-2 tax: $439 · $37/mo
• Expected delta: +$6/yr ($0/mo · 1.3%)

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,180
• − Mortgage interest: −$5,994
• − Property taxes: −$433
• − Insurance: −$535
• − Repairs & maintenance: −$1,934
• − Management: −$1,934
• − Depreciation: −$3,113
• Taxable income: $10,237
• Est. tax owed @ 24.0%: −$2,457
• After-tax cash flow: $8,944/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 — Smiths Station

• Score: 65/100
• State rank: #129
• US rank: #13134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,329

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: Predominantly White (77%)
• Race & ethnicity: White 77% Black 19% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 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: ▼ -85.13%
• Current HPI: 218.2835
• 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

-4.2% since first listed

7 events — show timeline

• 2026-04-13 Sold (MLS) $115,000 EABOR
• 2026-01-21 Listed $107,000 Fizber.com
• 2025-08-06 Price Changed $112,000 EABOR
• 2025-06-02 Price Changed $113,000 EABOR
• 2025-05-15 Price Changed $114,000 EABOR
• 2025-04-15 Price Changed $115,000 EABOR
• 2025-02-13 Listed $120,000 EABOR

Property tax history

+5.7%/yr

Latest (2025): $433 · +6.0% YoY. Source: county tax records.