348 Lee Road 2165 · Smiths Station, AL 36874

$205,000

4 bd · 2.0 ba · 2,128 sqft · Manufactured public records · 6 Days on market

Built 2011 0.34 ac lot ↓ 7% since listing

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

Key facts

• Large level yard
• Renovated bath
• Updated kitchen

Tags

• RENOVATED BATH
• UPDATED KITCHEN
• LARGE LEVEL YARD
• EASY ACCESS TO OPELIKA
• EASY ACCESS TO AUBURN
• EASY ACCESS TO COLUMBUS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $205k).
• Cap rate 7.6% vs local median 3.5% in Smiths Station — 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 65/100 on livability (#129 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, employment D, amenities F.
• Lee County (rural): math 23% / reading 47% proficiency, ranked #40 of 129 in AL (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 125 active listings in the ZIP; 1,858 units permitted in Lee County in 2024 (113 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 $6k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-19,065
• Equity at exit: $30,566

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,711
• Equity at exit: $17,725

Cash invested: $57,400 (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 36874

• Home prices YoY: -28.1%
• Active inventory: 125
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,074 medium
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $222

Break-even live

Break-even rent $1,793

Max offer price $205,000

Occupancy floor 84%

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: $51,250
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-01
   status Pending 662-char remark

   Show marketing remark (662 chars)

   Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

2. 2026-04-08
   status Pending
3. 2026-04-02
   listed $205,000 Active
4. 2026-03-06
   price $205,000 662-char remark

   Show marketing remark (662 chars)

   Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

5. 2026-03-06
   listed $205,000 Active

   Show marketing remark (662 chars)

   Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

6. 2026-01-15
   price $210,000 662-char remark

   Show marketing remark (662 chars)

   Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

7. 2025-11-28
   listed $220,000 Active 662-char remark

   Show marketing remark (662 chars)

   Perfect for first-time home buyers, this beautifully renovated 4-bedroom, 2-bath home offers modern updates in a quiet, well-established Salem neighborhood. Enjoy a bright living area, an updated kitchen with fresh finishes, and a comfortable primary suite with a renovated bath. Three additional bedrooms provide plenty of space for guests, a home office, or a growing family. The large, level yard is ideal for pets, play, or outdoor gatherings. With move-in-ready upgrades and easy access to Opelika, Auburn, and Columbus, this home offers convenience, value, and long-term comfort. A great opportunity to own a stylish, updated home in a wonderful community!

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $24,888
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$5,964
• Taxable loss: −$641
• Est. tax savings @ 24.0%: +$154
• After-tax cash flow: $2,815/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: Lee County
• NCES district ID: 0102070
• Math proficiency: 23% ▼ -27.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $47,786
• Composite: 30.04/100
• National rank: #6355
• State rank: #40 of 129 in AL

Livability — Smiths Station

• Score: 65/100
• State rank: #129
• US rank: #13134

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,329

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 (77%)
• Race & ethnicity: White 77% Black 19% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

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: ▼ -85.13%
• Current HPI: 218.2835
• 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

-6.8% since first listed

7 events — show timeline

• 2026-05-01 Pending — CBOR
• 2026-04-08 Pending — EABOR
• 2026-04-02 Listed $205,000 EABOR
• 2026-03-06 Price Changed $205,000 CBOR
• 2026-03-06 Listed $205,000 EABOR
• 2026-01-15 Price Changed $210,000 CBOR
• 2025-11-28 Listed $220,000 CBOR

Property tax history

-3.1%/yr

Latest (2025): $300 · +0.0% YoY. Source: county tax records.