179 N Leland Dr · Florence, AL 35630

$155,000

3 bd · 1.0 ba · 1,485 sqft · SingleFamily public records · 31 Days on market

Built 1957 8,712 sqft lot $104/sqft · at area comps Est $158k · at est.

---

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 +18.5/30.0
• ARV discount +8.3/15.0
• DSCR +5.8/10.0
• Livability +4.1/5.0
• Rent growth +4.0/5.0
• 1% rule +3.8/10.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

Key facts

• 8,712 sq ft lot
• Built 1957
• Listed 31 days

Property features AI

Finance

• Other: City street frontage on an asphalt, public-maintained road; Lot dimensions approximately 149' x 120' (0.2 acres); Frontage length about 149'
• HOA & community: No association amenities

Exterior

• Parking: Concrete driveway
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected; Sewer connected
• Home design: Single-family residential property; One-story (main living on one level)
• Construction: Aluminum siding and brick exterior; Metal roof; Slab foundation; Built living area above grade: 1,485
• Exterior features: Fenced yard with wood fencing; Back yard and front yard; Landscaped lot; Outbuilding (additional structure)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Laminate counters; Eat-in kitchen
• Bedrooms: Three main-level bedrooms
• Flooring: Ceramic tile; Vinyl
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Ceiling fans; Laminate countertops; Eat-in kitchen; Contaminant control for improved indoor air quality; Electric fireplace in the family room
• Laundry & utility: Washer and dryer hookups; Electric dryer hookup; Laundry closet; In-bathroom laundry location; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/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 $136k (12.3% below list).
• Recommended offer: $136k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.6% in Florence — 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 82/100 on livability (#4 in AL, #1,140 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Florence City (urban): math 28% / reading 44% proficiency, ranked #44 of 129 in AL (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Florence Middle School (math 22% / reading 44%, grade F, #101 of 257 statewide, top 40%, 689 students, 51% FRL); Florence High School (math 28% / reading 34%, grade F, #66 of 305 statewide, top 21%, 1,034 students, 36% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 269 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 164 units permitted in Lauderdale County in 2024 (72 in 5+ unit buildings).
• This rent runs 35% of the median local income ($46k/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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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 $116k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 23% 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 $135,906 (12.3% 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 12% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. 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. 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?
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: 0.88% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 9.5

CMA / ARV

• ARV (median comp): $157,747
• List price: $155,000
• Delta: -1.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 N Fulton St N	0.12mi	3/2.0	1,370 (-8%)	4mo	$174,900	$128	74
101 Auburn St	0.38mi	3/2.0	1,540 (+4%)	1mo	$185,000	$120	71
422 N Fulton St	0.09mi	3/2.0	1,312 (-12%)	5mo	$238,000	$181	68
309 Wilson Dam Rd	0.53mi	3/2.0	1,458 (-2%)	1mo	$212,000	$145	67
145 E Lakeside Dr	0.52mi	3/2.0	1,410 (-5%)	3mo	$271,000	$192	61
319 Wilson Dam Rd	0.55mi	3/2.0	1,536 (+3%)	7mo	$209,900	$137	58
104 Osteen Cir	0.32mi	3/2.0	1,660 (+12%)	5mo	$125,000	$75	57
520 Short St	0.60mi	3/2.0	1,600 (+8%)	0mo	$180,000	$113	55
33 Auburn St	0.33mi	3/1.5	1,660 (+12%)	12mo	$177,400	$107	52
110 Normandy Dr	0.74mi	3/1.0	1,375 (-7%)	14mo	$139,650	$102	42
352 Wilson Dam Rd	0.59mi	3/2.0	1,325 (-11%)	13mo	$252,500	$191	40
29 Co Rd 376	0.69mi	2/1.0 (-1)	1,276 (-14%)	0mo	$130,000	$102	39

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 · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.74×
• Total profit: $-11,337
• Equity at exit: $23,111

10-year hold

• IRR: 5.9%
• Equity multiple: 1.50×
• Total profit: $21,560
• Equity at exit: $13,402

Cash invested: $43,400 (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 35630

• Home prices YoY: -33.7%
• Rents YoY: 6.2%
• Active inventory: 269
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,359 high
• Mortgage (P&I): −$813
• Tax from tax record: −$49 /mo · $591/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $147

Break-even live

Break-even rent $1,173

Max offer price $155,000

Occupancy floor 84%

Sensitivity live

Price	-10% $235	-5% $191	+0% $147	+5% $103	+10% $59
Rent	-10% $40	-5% $93	+0% $147	+5% $201	+10% $254
Rate	-1.0pp $225	-0.5pp $186	base $147	+0.5pp $107	+1.0pp $66

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4026 Peachtree St Florence, AL	3.0	2.0	1660	$1,300	$0.78	45d	1	0.08mi
200 Foxfield Pl Florence, AL	2.0	2.0	1250	$1,120	$0.90	45d	1	0.16mi
416 N Broadway St Florence, AL	3.0	2.0	1125	$1,450	$1.29	45d	1	0.56mi
3504 Cole Ave Unit B Florence, AL	2.0	1.0	900	$750	$0.83	45d	1	0.85mi
137 Deerfield Pl Florence, AL	2.0	2.0	1250	$1,278	$1.02	45d	12	1.26mi
2021 Cloyd Blvd Florence, AL	2.0	2.0	1100	$895	$0.81	45d	4	1.37mi
1846 Darby Dr Florence, AL	2.0	2.5	1200	$1,125	$0.94	45d	5	1.39mi

Listing history 23 events

1. 2026-06-15
   status $155,000 Pending 31 DOM
2. 2026-06-15
   days on market $155,000 Active 31 DOM
3. 2026-06-14
   days on market $155,000 Active 29 DOM
4. 2026-06-13
   days on market $155,000 Active 28 DOM
5. 2026-06-10
   days on market $155,000 Active 26 DOM
6. 2026-06-09
   days on market $155,000 Active 25 DOM
7. 2026-06-08
   days on market $155,000 Active 24 DOM
8. 2026-06-05
   days on market $155,000 Active 20 DOM
9. 2026-06-02
   days on market $155,000 Active 18 DOM
10. 2026-06-01
    days on market $155,000 Active 17 DOM
11. 2026-05-31
    days on market $155,000 Active 16 DOM
12. 2026-05-30
    days on market $155,000 Active 15 DOM
13. 2026-05-14
    status Pending 510-char remark
14. 2026-05-04
    listed $155,000 Active 510-char remark
15. 2022-11-21
    soldstatus $116,000
16. 2022-11-18
    soldstatus $116,000 Closed 170-char remark

    Show marketing remark (170 chars)

    Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

17. 2022-10-17
    status Pending 170-char remark

    Show marketing remark (170 chars)

    Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

18. 2022-10-04
    status Active 170-char remark

    Show marketing remark (170 chars)

    Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

19. 2022-09-19
    price $139,900 170-char remark

    Show marketing remark (170 chars)

    Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

20. 2022-08-29
    listed $149,900 Active 170-char remark

    Show marketing remark (170 chars)

    Must see home, just off Cox Creek Parkway in Florence. This 3 bedroom, 2 bath offers privacy fence plus storage building--large den, open kitchen area and brand new HVAC.

21. 2022-02-28
    listed $149,900
22. 2017-05-05
    soldstatus $77,250
23. 2017-04-22
    listed $82,000

ⓘ 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: $591 · $49/mo
• Projected year-2 tax: $636 · $53/mo
• Expected delta: +$44/yr (+$4/mo · 7.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,309
• − Mortgage interest: −$8,682
• − Property taxes: −$591
• − Insurance: −$775
• − Repairs & maintenance: −$1,305
• − Management: −$1,305
• − Depreciation: −$4,509
• Taxable loss: −$858
• Est. tax savings @ 24.0%: +$206
• After-tax cash flow: $1,970/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: Florence City
• NCES district ID: 0101530
• Math proficiency: 28% ▼ -28.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $34,997
• Composite: 29.69/100
• National rank: #6456
• State rank: #44 of 129 in AL

Livability — Florence

• Score: 82/100
• State rank: #4
• US rank: #1140

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Florence, AL
• County: Lauderdale County · 47,988 people
• City population: 34,028
• Metro: Florence-Muscle Shoals, AL
• Population (ZIP): 34,028
• Household income: $46,304
• Rent vs Own: 54.7% rent · 45.3% own
• Severe rent burden: 1516.0

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 18% Two or more races 6% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% Romanian 1%
• Foreign-born: 4% · Canada, Vietnam, Guatemala
• Languages at home: 92% English-only · Spanish 6% Vietnamese 1%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -104.78%
• Current HPI: 206.1364
• Rent YoY: ▲ 6.18%
• Metro: Florence-Muscle Shoals, 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

+89.0% since first listed

13 events — show timeline

• 2026-06-15 Pending — SAARMLS
• 2026-05-22 Relisted — SAARMLS
• 2026-05-14 Pending — SAARMLS
• 2026-05-04 Listed $155,000 SAARMLS
• 2022-11-21 Sold (Public Records) $116,000 Public Records
• 2022-11-18 Sold (MLS) $116,000 SAARMLS
• 2022-10-17 Pending — SAARMLS
• 2022-10-04 Relisted — SAARMLS
• 2022-09-19 Price Changed $139,900 SAARMLS
• 2022-08-29 Listed $149,900 SAARMLS
• 2022-02-28 Listed $149,900 SAARMLS
• 2017-05-05 Sold (MLS) $77,250 SAARMLS
• 2017-04-22 Listed $82,000 SAARMLS

Property tax history

+8.5%/yr

Latest (2025): $591 · +7.7% YoY. Source: county tax records.