507 N 16th St · Lanett, AL 36863

$90,000

3 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 38 Days on market

Built 1980 10,640 ac lot $82/sqft · 33% below area Est $135k · 33% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• 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

Listing remarks

Great Investment Opportunity – Tenant-Occupied & Cash Flowing! Welcome to this well-maintained income-producing property, perfect for investors! This home is tenant-occupied with reliable tenants who pay on time, providing immediate rental income from day one. The interior is very clean and well cared for, and the home features a new roof installed in 2017, adding long-term value and peace of mind. This property has a strong rental history and generates positive cash flow, making it an excellent addition to any investment portfolio. Priced to sell—don’t miss this opportunity to own a solid rental property with steady income potential!

Key facts

• 10640 acre lot
• Built 1980
• Listed 37 days

Property features AI

Finance

• Other: Property located in the A P Lee subdivision; Parcel ID: 12-10-06-24-3-007-016.000; Lot acreage value present in data (10640) but excluded per instructions

Exterior

• Parking: Driveway parking
• Security: No security features listed
• Utilities: Public water; Septic system; Electric water heater; Internet availability unknown
• Home design: Existing construction; Four-sided brick exterior
• Construction: Slab foundation
• Exterior features: Not waterfront; No pool, patio, decks, or garden/patio reported

Interior

• Kitchen: Solid surface countertops
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet floors
• Bathrooms: One full bathroom with garden tub
• Heating & cooling: Central heating; Central cooling
• Interior features: Ceilings: Other (see remarks); No additional interior features listed
• Laundry & utility: Main-level laundry with washer hookup and electric dryer hookup; Laundry space described as 'Other (see remarks)'

🏷️ Possibly a rental listed for sale. The $90,000 price doesn't fit this home's estimated sale value (~$134,545) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 5.8% 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: Lanett Senior High School (math 5% / reading 5%, grade F, #276 of 305 statewide, top 95%, 235 students, 94% FRL).
• Market conditions: 95 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.44%
• DSCR: 2.04
• GRM: 5.7

CMA / ARV

• ARV (median comp): $134,545
• List price: $90,000
• Delta: -33.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 N 15th St	0.15mi	3/1.0	1,084 (-1%)	2mo	$32,500	$30	90
909 N 13th St	0.38mi	3/1.0	1,075 (-2%)	4mo	$167,000	$155	75
502 N 15th St	0.08mi	3/1.5	1,046 (-5%)	19mo	$153,750	$147	71
811 Cherry Dr	0.52mi	3/2.0	1,144 (+4%)	1mo	$208,000	$182	64
810 N 17th St	0.25mi	3/2.0	1,260 (+15%)	14mo	$192,000	$152	48
511 N 5th St	0.54mi	2/1.0 (-1)	1,156 (+6%)	24mo	$25,500	$22	41

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: 16.5%
• Equity multiple: 1.66×
• Total profit: $16,743
• Equity at exit: $13,419

10-year hold

• IRR: 25.0%
• Equity multiple: 3.18×
• Total profit: $54,833
• Equity at exit: $7,782

Cash invested: $25,200 (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: 95
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,308 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$31 /mo · $377/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $492

Break-even live

Break-even rent $685

Max offer price $90,000

Occupancy floor 57%

Sensitivity live

Price	-10% $543	-5% $518	+0% $492	+5% $467	+10% $441
Rent	-10% $389	-5% $441	+0% $492	+5% $544	+10% $596
Rate	-1.0pp $538	-0.5pp $515	base $492	+0.5pp $469	+1.0pp $445

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 3rd Ave Unit K West Point, GA	2.0	2.5	1100	$1,200	$1.09	21d	1	0.43mi
500 E 7th St West Point, GA	3.0	2.0	1308	$1,600	$1.22	21d	1	1.03mi
505 E 5th St West Point, GA	3.0	1.0	1354	$1,295	$0.96	21d	1	1.12mi
808 S 10th St Lanett, AL	3.0	2.0	1340	$1,350	$1.01	14d	1	1.40mi

Listing history 17 events

1. 2026-06-19
   days on market $90,000 Active 38 DOM
2. 2026-06-18
   days on market $90,000 Active 37 DOM
3. 2026-06-17
   days on market $90,000 Active 36 DOM
4. 2026-06-16
   days on market $90,000 Active 35 DOM
5. 2026-06-15
   days on market $90,000 Active 34 DOM
6. 2026-06-14
   days on market $90,000 Active 32 DOM
7. 2026-06-12
   days on market $90,000 Active 31 DOM
8. 2026-06-09
   days on market $90,000 Active 28 DOM
9. 2026-06-08
   days on market $90,000 Active 27 DOM
10. 2026-06-07
    days on market $90,000 Active 26 DOM
11. 2026-06-07
    days on market $90,000 Active 25 DOM
12. 2026-06-04
    days on market $90,000 Active 22 DOM
13. 2026-06-02
    days on market $90,000 Active 21 DOM
14. 2026-06-01
    days on market $90,000 Active 20 DOM
15. 2026-05-31
    days on market $90,000 Active 19 DOM
16. 2026-05-31
    days on market $90,000 Active 18 DOM
17. 2026-05-12
    listed $90,000 Active 33-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: $377 · $31/mo
• Projected year-2 tax: $377 · $31/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,694
• − Mortgage interest: −$5,041
• − Property taxes: −$377
• − Insurance: −$450
• − Repairs & maintenance: −$1,256
• − Management: −$1,256
• − Depreciation: −$2,618
• Taxable income: $4,697
• Est. tax owed @ 24.0%: −$1,127
• After-tax cash flow: $4,781/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

1 event — show timeline

• 2026-05-12 Listed $90,000 Greater Alabama MLS

Property tax history

+4.2%/yr

Latest (2025): $377 · +0.3% YoY. Source: county tax records.