229 The Heights Dr · Calera, AL 35040

$175,000

3 bd · 3.0 ba · 1,248 sqft · Townhouse public records · 128 Days on market

Built 2015 3,049 sqft lot $140/sqft · 16% below area Est $208k · 16% under $29/mo HOA · 2% of rent

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Why this score? — see what drove the C 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 +19.4/30.0
• ARV discount +14.7/15.0
• DSCR +6.1/10.0
• 1% rule +4.9/10.0
• Schools +3.9/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

Key facts

• Open floor plan
• Breakfast room
• Spacious kitchen

Tags

• FENCED-IN BACKYARD
• OPEN FLOOR PLAN
• SPACIOUS KITCHEN
• BREAKFAST ROOM
• PRIMARY SUITE
• GUEST BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $197 ($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 $174k (0.7% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.5% in Calera — 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 59/100 on livability (#325 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 374 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby County in 2024 (0 in 5+ unit buildings).

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.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $12k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.99% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.4

CMA / ARV

• ARV (median comp): $208,491
• List price: $175,000
• Delta: -16.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
566 The Heights Ln	0.13mi	3/2.5	1,298 (+4%)	7mo	$196,000	$151	80
113 The Heights Dr	0.15mi	3/2.5	1,344 (+8%)	1mo	$188,000	$140	78
520 The Heights Ln	0.17mi	3/2.5	1,338 (+7%)	0mo	$190,000	$142	78
205 The Heights Dr	0.03mi	3/2.5	1,348 (+8%)	7mo	$164,500	$122	77
562 The Heights Ln	0.13mi	3/2.5	1,326 (+6%)	5mo	$180,000	$136	77
209 The Heights Dr	0.02mi	3/2.5	1,351 (+8%)	10mo	$205,000	$152	75
100 Little John Cir	0.30mi	2/2.0 (-1)	1,264 (+1%)	4mo	$189,900	$150	71
204 The Heights Dr	0.04mi	2/2.0 (-1)	1,107 (-11%)	0mo	$185,000	$167	70
169 The Heights Dr	0.08mi	3/2.0	1,080 (-14%)	1mo	$179,900	$167	69
558 The Heights Ln	0.14mi	3/2.0	1,080 (-14%)	3mo	$185,000	$171	65
578 The Heights Ln	0.12mi	3/2.0	1,080 (-14%)	9mo	$183,000	$169	61
554 The Heights Ln	0.14mi	3/2.0	1,080 (-14%)	9mo	$190,000	$176	59

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-14,646
• Equity at exit: $26,093

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $8,304
• Equity at exit: $15,131

Cash invested: $49,000 (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 35040

• Home prices YoY: -16.5%
• Rents YoY: 3.7%
• Active inventory: 374
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,738 high
• Mortgage (P&I): −$918
• Tax from tax record: −$156 /mo · $1,877/yr
• Insurance: −$73
• HOA: −$29
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $197

Break-even live

Break-even rent $1,489

Max offer price $175,000

Occupancy floor 84%

Sensitivity live

Price	-10% $296	-5% $246	+0% $197	+5% $147	+10% $98
Rent	-10% $59	-5% $128	+0% $197	+5% $265	+10% $334
Rate	-1.0pp $285	-0.5pp $241	base $197	+0.5pp $151	+1.0pp $105

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
699 The Heights Ln Calera, AL	2.0	2.5	1100	$1,400	$1.27	11d	1	0.09mi
680 The Heights Ln Calera, AL	3.0	2.5	1397	$1,750	$1.25	3d	1	0.10mi
192 Stonecreek Pl Calera, AL	3.0	2.0	1220	$1,738	$1.42	4d	1	0.16mi
2027 Rossburg Pl Calera, AL	2.0	2.0	1073	$1,300	$1.21	25d	1	0.34mi
2000 Rossburg Pl Calera, AL	2.0	2.0	1142	$1,500	$1.31	4d	1	0.35mi
916 Daventry Trl Calera, AL	3.0	2.0	1331	$1,550	$1.16	3d	1	0.60mi
115 Charlton Ln Calera, AL	3.0	2.0	1367	$1,695	$1.24	45d	1	0.66mi
446 Savannah Cv Calera, AL	3.0	2.0	1492	$1,800	$1.21	25d	1	1.06mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 30 events

1. 2026-06-21
   days on market $175,000 Active 128 DOM
2. 2026-06-18
   days on market $175,000 Active 125 DOM
3. 2026-06-17
   days on market $175,000 Active 124 DOM
4. 2026-06-16
   days on market $175,000 Active 123 DOM
5. 2026-06-15
   price $175,000 Active 122 DOM
6. 2026-06-15
   days on market $180,000 Active 122 DOM
7. 2026-06-13
   days on market $180,000 Active 120 DOM
8. 2026-06-13
   days on market $180,000 Active 119 DOM
9. 2026-06-10
   days on market $180,000 Active 117 DOM
10. 2026-06-09
    days on market $180,000 Active 116 DOM
11. 2026-06-08
    days on market $180,000 Active 115 DOM
12. 2026-06-07
    days on market $180,000 Active 114 DOM
13. 2026-06-05
    days on market $180,000 Active 111 DOM
14. 2026-06-03
    days on market $180,000 Active 110 DOM
15. 2026-06-02
    days on market $180,000 Active 109 DOM
16. 2026-06-01
    days on market $180,000 Active 108 DOM
17. 2026-05-31
    days on market $180,000 Active 107 DOM
18. 2026-05-12
    historical Contingent 631-char remark

    Show marketing remark (631 chars)

    Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

19. 2026-05-08
    status Active 631-char remark

    Show marketing remark (631 chars)

    Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

20. 2026-05-02
    historical Contingent 631-char remark

    Show marketing remark (631 chars)

    Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

21. 2026-04-18
    price $180,000 631-char remark

    Show marketing remark (631 chars)

    Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

22. 2026-02-13
    listed $187,500 Active 631-char remark

    Show marketing remark (631 chars)

    Welcome Home! This move-in-ready townhome stands out with a rare fenced-in backyard offering privacy and peace of mind. The main level features a modern, open floor plan bathed in natural light and highlighted by stunning hardwood floors. A spacious kitchen serves as the heart of the home, complete with an island, ample cabinet storage, and a breakfast room. Upstairs, the Primary Suite provides a peaceful retreat, accompanied by two versatile guest bedrooms and a second full bath. Located just off I-65, this home offers an easy commute to Birmingham or Montgomery while being minutes away from shopping, dining, and schools.

23. 2026-01-22
    price $187,500
24. 2025-09-19
    historical $1,450
25. 2025-09-11
    listed $1,450
26. 2024-08-03
    historical $1,450
27. 2024-07-18
    listed $1,450
28. 2024-07-11
    historical $1,480
29. 2024-06-15
    listed $1,480
30. 2022-03-16
    price $1,295

ⓘ 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: $1,877 · $156/mo
• Projected year-2 tax: $1,877 · $156/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 7/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% 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: $20,852
• − Mortgage interest: −$9,803
• − Property taxes: −$1,877
• − Insurance: −$875
• − Repairs & maintenance: −$1,668
• − Management: −$1,668
• − HOA: −$348
• − Depreciation: −$5,091
• Taxable loss: −$478
• Est. tax savings @ 24.0%: +$115
• After-tax cash flow: $2,475/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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Calera

• Score: 59/100
• State rank: #325
• US rank: #19917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calera, AL
• County: Shelby County · 188,970 people
• City population: 19,304
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 19,304
• Household income: $84,554
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 388.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 9% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Arabic 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.58%
• Current HPI: 220.2843
• Rent YoY: ▲ 3.67%
• Metro: Birmingham-Hoover, 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

+13799.6% since first listed

13 events — show timeline

• 2026-05-12 Contingent — Greater Alabama MLS
• 2026-05-08 Relisted — Greater Alabama MLS
• 2026-05-02 Contingent — Greater Alabama MLS
• 2026-04-18 Price Changed $180,000 Greater Alabama MLS
• 2026-02-13 Listed $187,500 Greater Alabama MLS
• 2026-01-22 Price Changed $187,500 Greater Alabama MLS
• 2025-09-19 Rental Removed $1,450 APPFOLIO
• 2025-09-11 Listed for Rent $1,450 APPFOLIO
• 2024-08-03 Rental Removed $1,450 APPFOLIO
• 2024-07-18 Listed for Rent $1,450 APPFOLIO
• 2024-07-11 Rental Removed $1,480 APPFOLIO
• 2024-06-15 Listed for Rent $1,480 APPFOLIO
• 2022-03-16 Price Changed $1,295 RENT.

Property tax history

+5.3%/yr

Latest (2025): $1,877 · +1.2% YoY. Source: county tax records.