224 Lee Road 206 · Smiths Station, AL 36874

$210,000

2 bd · 2.0 ba · 1,104 sqft · SingleFamily public records · 13 Days on market

Built 1998 0.45 ac lot

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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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.3/10.0
• 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

This 2 Bedroom, 2 Bath home has been completely remodeled and is totally move-in ready. It has a great open floor plan with a new roof, new paint, new flooring, new HVAC, new appliances, new countertops, new light fixtures and much more. This is a great house on a nice . 45 acre lot in Lee County

Key facts

• Open floor plan
• Ample counter space
• Large laundry

Tags

• OPEN FLOOR PLAN
• BRIGHT DINING SPACE
• AMPLE COUNTER SPACE
• LARGE LAUNDRY
• ADDED STORAGE CABINETS
• SIDE-DOOR ENTRANCE

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single-story home
• Construction: Built per public records; Fiber cement exterior; Slab foundation
• Exterior features: Level lot; Mature trees; Outside city limits; Public paved road frontage

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Microwave hood fan; Electric water heater
• Bedrooms: Bedroom on the first level
• Flooring: Carpet; Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Blinds on windows; Tray ceilings; Vaulted ceilings; Walk-in closet(s); Window treatments
• Laundry & utility: Washer hookup; Dryer hookup; Laundry room on the first level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/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 $195k (7.0% below list).
• Recommended offer: $195k (7.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $95k; list at $210k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,251 (7.0% below list)

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. 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.
3. 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.
4. 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: 0.93% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.27%
• DSCR: 1.28
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $119,232
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
138 Lee Rd 2016	0.08mi	3/2.0 (+1)	1,248 (+13%)	11mo	$135,000	$108	61
2381 Lee Road 201	0.15mi	3/2.0 (+1)	1,248 (+13%)	19mo	$90,000	$72	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.7%
• Equity multiple: 0.75×
• Total profit: $-14,578
• Equity at exit: $31,312

10-year hold

• IRR: 2.9%
• Equity multiple: 1.21×
• Total profit: $12,067
• Equity at exit: $18,157

Cash invested: $58,800 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$47 /mo · $560/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $307

Break-even live

Break-even rent $1,564

Max offer price $210,000

Occupancy floor 79%

Sensitivity live

Price	-10% $426	-5% $366	+0% $307	+5% $248	+10% $188
Rent	-10% $153	-5% $230	+0% $307	+5% $384	+10% $461
Rate	-1.0pp $413	-0.5pp $360	base $307	+0.5pp $253	+1.0pp $197

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $210,000 Active 13 DOM
2. 2026-06-18
   days on market $210,000 Active 12 DOM
3. 2026-06-17
   days on market $210,000 Active 11 DOM
4. 2026-06-16
   days on market $210,000 Active 10 DOM
5. 2026-06-15
   days on market $210,000 Active 9 DOM
6. 2026-06-14
   days on market $210,000 Active 7 DOM
7. 2026-06-13
   days on market $210,000 Active 6 DOM
8. 2026-06-10
   days on market $210,000 Active 4 DOM
9. 2026-06-09
   days on market $210,000 Active 3 DOM
10. 2026-06-08
    days on market $210,000 Active 2 DOM
11. 2026-06-07
    remarks 632-char remark
12. 2026-06-07
    listed $210,000 Active 1 DOM

ⓘ 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: $560 · $47/mo
• Projected year-2 tax: $861 · $72/mo
• Expected delta: +$301/yr (+$25/mo · 53.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $23,430
• − Mortgage interest: −$11,763
• − Property taxes: −$560
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,874
• − Management: −$1,874
• − Depreciation: −$6,109
• Taxable income: $199
• Est. tax owed @ 24.0%: −$48
• After-tax cash flow: $3,637/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

+121.3% since first listed

5 events — show timeline

• 2026-06-04 Listed $210,000 MAAR
• 2019-04-18 Sold (MLS) $94,900 EABOR
• 2019-04-18 Sold (MLS) $94,900 CBOR
• 2019-02-08 Listed $94,900 EABOR
• 2019-02-08 Listed $94,900 CBOR

Property tax history

+0.7%/yr

Latest (2025): $560 · +4.6% YoY. Source: county tax records.