2608 Tillery Lane J Building · Phenix City, AL 36867

$365,000

None bd · None ba · — sqft · MultiFamily · 47 Days on market

Built 1985 Fair condition 0.27 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Exceptional opportunity to acquire a hard-to-find single-story quadplex featuring four spacious 3 bedroom, 2 bathroom units—a product type that consistently performs well in today’s rental market. Located in a strong rental area, this property offers immediate income with significant upside potential. This asset is currently underperforming due to below-market rents and needed updates, creating a prime value-add opportunity for investors looking to increase cash flow and long-term equity. Current Rent Roll: Unit 1: $1,000/month (Section 8) – Lease through January 2027 Unit 2: $650/month – Lease through November 2026 Unit 3: Vacant – Ready for renovation (e

Key facts

• 0.27 acre lot
• 2 parking spots
• Built 1985

Property features AI

Finance

• HOA & community: No community amenities listed

Exterior

• Parking: Driveway; 2 parking spaces
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available; Water available; Sewer available
• Home design: Residential income property; Quadruplex; Single-story
• Construction: Brick construction
• Exterior features: Corner lot; 150 x 90 lot dimensions; Shingle roof; No fencing

Interior

• Heating & cooling: Central heating; Central air conditioning; Ceiling fan(s)
• Interior features: Central heating; Central air conditioning; Ceiling fans; Has a view

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2-bath units multifamily listed at $365k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive. Per door: $576/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 4.9% in Phenix City — 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 (#297 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Phenix City (suburban): math 22% / reading 44% proficiency, ranked #59 of 129 in AL (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.3%/yr); 217 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 183 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• At $6,111/mo this rent would consume 153% of the median local household income ($48k/yr) (locally 1399% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Russell County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.3% rent growth), your $102k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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 $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.67% ✓
• Cap rate: 13.87%
• Cash-on-cash: 27.07%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

No comps found within radius.

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2608 Kennon Court Q Building	0.05mi	—/—	—	1mo	$280,000	—	84
1800 18th Ct	0.70mi	—/—	—	6mo	$175,000	—	50

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 · 5.33% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 2.00×
• Total profit: $102,429
• Equity at exit: $54,423

10-year hold

• IRR: 33.0%
• Equity multiple: 4.34×
• Total profit: $341,721
• Equity at exit: $31,559

Cash invested: $102,200 (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 36867

• Home prices YoY: -30.1%
• Rents YoY: 5.3%
• Active inventory: 217
• Price-to-rent: 19.9×

Monthly cashflow live

• Estimated rent: $6,111 high
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,283
• Net cashflow: $2,305

Break-even live

Break-even rent $3,193

Max offer price $365,000

Occupancy floor 57%

Sensitivity live

Price	-10% $2,558	-5% $2,431	+0% $2,305	+5% $2,179	+10% $2,053
Rent	-10% $1,822	-5% $2,064	+0% $2,305	+5% $2,547	+10% $2,788
Rate	-1.0pp $2,489	-0.5pp $2,398	base $2,305	+0.5pp $2,211	+1.0pp $2,114

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$6,112
Total (4 units)			$6,111

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2702 N Railroad St Phenix City, AL	2.0	1.0	768	$1,200	$1.56	22d	1	0.13mi
1914 Tranquil Ln Phenix City, AL	2.0	2.5	1581	$1,700	$1.08	22d	1	0.72mi
1346 Ingersoll Dr Phenix City, AL	3.0	2.0	1453	$1,700	$1.17	14d	1	1.02mi
3622 S Railroad St Phenix City, AL	1.0–3.0	1.0–2.5	1141	$1,536	$1.35	14d	10	1.07mi
4404 Bridgewater Dr Phenix City, AL	3.0	2.0	1894	$2,100	$1.11	22d	1	1.42mi

Listing history 11 events

1. 2026-06-10
   status $365,000 Pending 47 DOM
2. 2026-06-09
   days on market $365,000 Active 47 DOM
3. 2026-06-08
   days on market $365,000 Active 46 DOM
4. 2026-06-07
   days on market $365,000 Active 45 DOM
5. 2026-06-05
   days on market $365,000 Active 42 DOM
6. 2026-06-02
   days on market $365,000 Active 40 DOM
7. 2026-06-01
   days on market $365,000 Active 39 DOM
8. 2026-05-31
   days on market $365,000 Active 38 DOM
9. 2026-05-30
   status $365,000 Active 37 DOM
10. 2026-05-19
    status Pending
11. 2026-04-12
    status Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $73,332
• − Mortgage interest: −$20,446
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$5,867
• − Management: −$5,867
• − Depreciation: −$10,618
• Taxable income: $23,235
• Est. tax owed @ 24.0%: −$5,576
• After-tax cash flow: $22,087/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This quadplex has moderate exterior wear and needs landscaping and exterior painting to improve its curb appeal and rental value.

Repairs flagged

• Moderate Brick siding — Weathered appearance
• Minor Landscaping — Sparse and could be improved

Value-add opportunities

• Both Landscaping and exterior painting — Improves curb appeal and rental value
• Rental Interior updates — Enhances rental appeal and could attract higher rent

Renovation cost estimate screening

Repair item	Severity	Est. cost
Brick siding · Weathered appearance	Moderate	$3,000–15,000
Landscaping · Sparse and could be improved	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Landscaping and exterior painting — Improves curb appeal and rental value ↑
• Rental Interior updates — Enhances rental appeal and could attract higher rent ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Phenix City
• NCES district ID: 0102700
• Math proficiency: 22% ▼ -24.00%
• Reading proficiency: 44% ▼ -1.00%
• Median HH income: $36,228
• Composite: 27.29/100
• National rank: #7001
• State rank: #59 of 129 in AL

Livability — Phenix City

• Score: 60/100
• State rank: #297
• US rank: #19037

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: Phenix City, AL
• County: Russell County · 53,055 people
• City population: 62,290
• Metro: Columbus, GA-AL
• Population (ZIP): 22,821
• Household income: $48,026
• Rent vs Own: 52.0% rent · 48.0% own
• Severe rent burden: 1399.0

Population outlook (Russell County) Hauer SSP2

• Today (2025): 70,137 people
• By 2030: 75,826 · +8.1%
• By 2040: 87,858 · +25.3%
• By 2050: 99,721 · +42.2%
• By 2075: 128,009 · +82.5%
• By 2100: 149,251 · +112.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 53% Black 34% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 1%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 4% Tagalog/Filipino 1%

Political lean MEDSL · Russell

• 2024 margin: Toss-up / Even · D 50.4% · R 48.7%
• 2008→2024 swing: -5.6pp toward R · 2008: 7.3pp · 2024: 1.7pp
• All cycles: 2024: D+1.7 2020: D+6.4 2016: D+1.9 2012: D+11.8 2008: D+7.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.10%
• Current HPI: 171.8426
• Rent YoY: ▲ 5.33%
• Metro: Columbus, GA-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