815 Greenwood Dr · Auburn, AL 36830

$255,000

3 bd · 2.0 ba · 1,305 sqft · SingleFamily public records · 66 Days on market

Built 2002 8,276 sqft lot $195/sqft · 9% below area Est $280k · 9% under

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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 +13.9/30.0
• ARV discount +11.5/15.0
• Schools +5.0/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• 1% rule +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just 2 miles from Jordan-Hare Stadium, this 3-bedroom, 2-bath home offers the perfect blend of convenience and comfort. Situated just off Shug Jordan Parkway, you’ll enjoy quick access to Auburn University, shopping, dining, and game day excitement. Inside, you’ll find a spacious eat-in kitchen ideal for everyday living and entertaining, with plenty of room for gathering. The thoughtful layout includes a large primary suite featuring an oversized walk-in closet, providing both comfort and ample storage. Additional highlights include a 2-car garage and functional living spaces designed for easy living. Whether you’re looking for a primary residence, or investment opportunity, this home checks all the boxes in a highly desirable location. Property is leased through July 2027, collect rent immediately!

Key facts

• Large primary suite
• 8,276 sq ft lot
• 2 garage spots

Tags

• SPACIOUS EAT-IN KITCHEN
• LARGE PRIMARY SUITE
• OVERSIZED WALK-IN CLOSET
• FUNCTIONAL LIVING SPACES
• HIGHLY DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $28 ($342/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 $213k (16.3% below list).
• Recommended offer: $213k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.7% in Auburn — 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 80/100 on livability (#6 in AL, #1,842 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Auburn City (urban): math 51% / reading 69% proficiency, ranked #7 of 129 in AL (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Margaret Yarbrough Elementary School (math 56% / reading 74%, grade B+, #40 of 627 statewide, top 7%, 518 students, 34% FRL); Drake Middle School (math 44% / reading 69%, grade B, #16 of 257 statewide, top 6%, 711 students, 31% FRL); Auburn High School (math 54% / reading 50%, grade D+, #11 of 305 statewide, top 4%, 2,143 students, 27% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 907 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 69% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).
• This rent runs 36% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($240k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 65% 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 $213,451 (16.3% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 16% 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.84% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 10.0

CMA / ARV

• ARV (median comp): $279,980
• List price: $255,000
• Delta: -8.92%
• 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
1011 Pleasant Ave	0.11mi	3/2.0	1,305 (0%)	1mo	$243,750	$187	94
993 Pleasant Ave	0.14mi	3/2.0	1,343 (+3%)	1mo	$290,000	$216	88
732 Ellis St	0.38mi	3/2.0	1,214 (-7%)	6mo	$240,000	$198	66
559 Piper Ave	0.39mi	3/2.0	1,279 (-2%)	16mo	$375,000	$293	65
414 Peter St	0.38mi	3/2.0	1,395 (+7%)	7mo	$445,000	$319	65
405 Peter St	0.42mi	3/2.0	1,366 (+5%)	10mo	$415,000	$304	64
567 Piper Ave	0.37mi	2/2.0 (-1)	1,218 (-7%)	6mo	$370,000	$304	61
714 Ellis St	0.40mi	3/1.0	1,222 (-6%)	11mo	$234,000	$191	57
407 Peter St	0.41mi	3/2.0	1,400 (+7%)	14mo	$410,000	$293	57
841 Lunsford Dr	0.50mi	3/2.0	1,112 (-15%)	1mo	$234,000	$210	52
345 Byrd St	0.51mi	3/1.0	1,215 (-7%)	11mo	$124,000	$102	51
876 Zellars Ct	0.43mi	3/2.0	1,167 (-11%)	16mo	$240,000	$206	49

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 · 5.36% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.52×
• Total profit: $-34,352
• Equity at exit: $38,021

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-5,365
• Equity at exit: $22,048

Cash invested: $71,400 (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 36830

• Rents YoY: 5.4%
• Active inventory: 907
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,135 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$214 /mo · $2,571/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $28

Break-even live

Break-even rent $2,098

Max offer price $255,000

Occupancy floor 94%

Sensitivity live

Price	-10% $173	-5% $101	+0% $28	+5% $-44	+10% $-116
Rent	-10% $-140	-5% $-56	+0% $28	+5% $113	+10% $197
Rate	-1.0pp $157	-0.5pp $93	base $28	+0.5pp $-38	+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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
981 Pleasant Ave Auburn, AL	3.0	2.0	1268	$1,650	$1.30	45d	1	0.18mi
577 Piper Ave Auburn, AL	3.0	2.0	1289	$2,550	$1.98	22d	1	0.33mi
1550 Richland Rd Auburn, AL	4.0	1.0–3.5	1157	$2,650	$2.29	15d	97	0.33mi
Northpointe Dr Auburn, AL	4.0	4.0	1800	$1,450	$0.81	45d	1	0.50mi
836 W Glenn Ave #212 Auburn, AL	2.0	2.0	1200	$2,000	$1.67	15d	1	0.73mi
449 N Donahue Dr Auburn, AL	1.0–3.0	1.0–3.0	1080	$1,650	$1.53	45d	1	0.90mi
340 N Donahue Dr Unit A103 Auburn, AL	2.0	2.0	944	$2,800	$2.97	45d	1	1.02mi
310 Briar Creek Cir Auburn, AL	3.0	3.0	1869	$1,950	$1.04	22d	1	1.26mi
108 Mimosa Ave Auburn, AL	4.0	2.5	1528	$2,200	$1.44	45d	1	1.41mi
535 Heritage Ct Auburn, AL	2.0	3.0	1150	$3,500	$3.04	45d	1	1.44mi
601 N Gay St Auburn, AL	2.0	2.0	1150	$1,700	$1.48	45d	1	1.45mi
121 Wright St Unit 1E Auburn, AL	2.0	2.0	950	$2,500	$2.63	45d	1	1.47mi
Ross Park 3/3 TH Auburn, AL	3.0	3.0	1495	$1,575	$1.05	45d	1	1.49mi

Listing history 5 events

1. 2026-06-01
   statusdays on market $255,000 Pending 66 DOM
2. 2026-05-31
   days on market $255,000 Active 65 DOM
3. 2026-05-30
   days on market $255,000 Active 64 DOM
4. 2026-04-29
   price $255,000 836-char remark

   Show marketing remark (836 chars)

   Located just 2 miles from Jordan-Hare Stadium, this 3-bedroom, 2-bath home offers the perfect blend of convenience and comfort. Situated just off Shug Jordan Parkway, you’ll enjoy quick access to Auburn University, shopping, dining, and game day excitement. Inside, you’ll find a spacious eat-in kitchen ideal for everyday living and entertaining, with plenty of room for gathering. The thoughtful layout includes a large primary suite featuring an oversized walk-in closet, providing both comfort and ample storage. Additional highlights include a 2-car garage and functional living spaces designed for easy living. Whether you’re looking for a primary residence, or investment opportunity, this home checks all the boxes in a highly desirable location. Property is leased through July 2027, collect rent immediately!

5. 2026-03-27
   listed $257,000 Active 836-char remark

   Show marketing remark (836 chars)

   Located just 2 miles from Jordan-Hare Stadium, this 3-bedroom, 2-bath home offers the perfect blend of convenience and comfort. Situated just off Shug Jordan Parkway, you’ll enjoy quick access to Auburn University, shopping, dining, and game day excitement. Inside, you’ll find a spacious eat-in kitchen ideal for everyday living and entertaining, with plenty of room for gathering. The thoughtful layout includes a large primary suite featuring an oversized walk-in closet, providing both comfort and ample storage. Additional highlights include a 2-car garage and functional living spaces designed for easy living. Whether you’re looking for a primary residence, or investment opportunity, this home checks all the boxes in a highly desirable location. Property is leased through July 2027, collect rent immediately!

ⓘ 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: $2,571 · $214/mo
• Projected year-2 tax: $2,571 · $214/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 ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $25,614
• − Mortgage interest: −$14,284
• − Property taxes: −$2,571
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,049
• − Management: −$2,049
• − Depreciation: −$7,418
• Taxable loss: −$4,033
• Est. tax savings @ 24.0%: +$968
• After-tax cash flow: $1,310/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: Auburn City
• NCES district ID: 0100210
• Math proficiency: 51% ▼ -21.00%
• Reading proficiency: 69% ▲ 5.00%
• Median HH income: $38,126
• Composite: 49.87/100
• National rank: #1944
• State rank: #7 of 129 in AL

Livability — Auburn

• Score: 80/100
• State rank: #6
• US rank: #1842

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, AL
• County: Lee County · 144,175 people
• City population: 80,251
• Metro: Auburn-Opelika, AL
• Population (ZIP): 49,292
• Household income: $70,188
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 2961.0

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 (70%)
• Race & ethnicity: White 70% Black 14% Asian 10% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 11% · South Korea, Canada, China
• Languages at home: 87% English-only · Korean 4% Spanish 3% Chinese 2%

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: ▼ -156.53%
• Current HPI: 270.6646
• Rent YoY: ▲ 5.36%
• Metro: Auburn-Opelika, 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

-0.8% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $255,000 LCMLS
• 2026-03-27 Listed $257,000 LCMLS

Property tax history

+4.6%/yr

Latest (2025): $2,571 · +7.0% YoY. Source: county tax records.