470 Lee Road 234 · Smiths Station, AL 36870

$95,900

3 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 83 Days on market

Built 1940 1.15 ac lot $72/sqft · 54% below area

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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
• 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

ALL Offers must be submitted to listing agent prior to 5 pm CST on Wednesday, May 6, 2026. Situated on approximately 1.15 acres, this 3-bedroom, 1-bath home offers a unique opportunity for investors or buyers looking to add value. The property provides ample outdoor space with room to expand, improve, or enjoy a more private setting. Established azaleas and Magnolias are in place, ready to be uncovered and the yard brought back to life. No guaranty will be made about the specs of the home or its condition. The home is being sold AS IS, with no repairs or concessions to be made by the seller. Please note that all offers are subject to court approval, which may impact timing and response periods. A great opportunity with potential—ready for its next chapter.

Key facts

• Outdoor space
• Private setting
• Established azaleas

Tags

• OUTDOOR SPACE
• PRIVATE SETTING
• ESTABLISHED AZALEAS
• ESTABLISHED MAGNOLIAS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $642 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Recommended offer: $90k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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: 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $663 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,146 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.66% ✓
• Cap rate: 14.33%
• Cash-on-cash: 28.71%
• DSCR: 2.28
• GRM: 5.0

CMA / ARV

• ARV (median comp): $208,958
• List price: $95,900
• Delta: -54.11%
• 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
595 Lee Road 234	0.16mi	3/2.0	1,328 (-0%)	2mo	$178,000	$134	87
196 Lee Road 2090	0.35mi	3/2.0	1,294 (-3%)	0mo	$225,000	$174	75
98 Lee Road 2091	0.30mi	3/2.0	1,285 (-3%)	5mo	$216,000	$168	72
67 Lee Road 540	0.52mi	3/2.0	1,341 (+1%)	3mo	$235,000	$175	68
55 Lee Road 2004	0.52mi	3/2.0	1,279 (-4%)	1mo	$222,500	$174	64
231 Lee Road 0539	0.59mi	3/2.0	1,303 (-2%)	1mo	$240,000	$184	64
1223 Lee Road 0235	0.50mi	3/2.0	1,287 (-3%)	4mo	$184,900	$144	64
131 Lee Road 2090	0.41mi	3/2.0	1,268 (-5%)	9mo	$193,000	$152	61
90 Lee Rd 2005	0.59mi	3/2.0	1,290 (-3%)	10mo	$215,000	$167	55
125 Lee Road 0477	0.72mi	3/2.0	1,346 (+1%)	8mo	$227,500	$169	54
461 Lee Road 0235	0.62mi	4/2.0 (+1)	1,383 (+4%)	6mo	$239,900	$173	50
165 Lee rd 2004	0.62mi	3/2.0	1,171 (-12%)	13mo	$199,900	$171	37

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: 23.0%
• Equity multiple: 1.94×
• Total profit: $25,373
• Equity at exit: $14,299

10-year hold

• IRR: 31.0%
• Equity multiple: 3.78×
• Total profit: $74,763
• Equity at exit: $8,292

Cash invested: $26,852 (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 36870

• Home prices YoY: -10.5%
• Active inventory: 132
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$503
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $642

Break-even live

Break-even rent $779

Max offer price $95,900

Occupancy floor 55%

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: $23,975
• Closing costs: $2,877
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2045 Lee Road 235 Unit D3 Smiths Station, AL	2.0	1.5	900	$850	$0.94	21d	1	1.07mi

Listing history 17 events

1. 2026-06-18
   days on market $95,900 Active 83 DOM
2. 2026-06-17
   days on market $95,900 Active 82 DOM
3. 2026-06-16
   days on market $95,900 Active 81 DOM
4. 2026-06-15
   days on market $95,900 Active 80 DOM
5. 2026-06-14
   days on market $95,900 Active 78 DOM
6. 2026-06-13
   days on market $95,900 Active 77 DOM
7. 2026-06-10
   days on market $95,900 Active 75 DOM
8. 2026-06-09
   days on market $95,900 Active 74 DOM
9. 2026-06-08
   days on market $95,900 Active 73 DOM
10. 2026-06-07
    days on market $95,900 Active 72 DOM
11. 2026-06-05
    days on market $95,900 Active 69 DOM
12. 2026-06-03
    days on market $95,900 Active 68 DOM
13. 2026-06-02
    days on market $95,900 Active 67 DOM
14. 2026-06-01
    days on market $95,900 Active 66 DOM
15. 2026-05-31
    days on market $95,900 Active 65 DOM
16. 2026-05-30
    days on market $95,900 Active 64 DOM
17. 2026-03-27
    listed $95,900 Active 773-char remark

    Show marketing remark (773 chars)

    ALL Offers must be submitted to listing agent prior to 5 pm CST on Wednesday, May 6, 2026. Situated on approximately 1.15 acres, this 3-bedroom, 1-bath home offers a unique opportunity for investors or buyers looking to add value. The property provides ample outdoor space with room to expand, improve, or enjoy a more private setting. Established azaleas and Magnolias are in place, ready to be uncovered and the yard brought back to life. No guaranty will be made about the specs of the home or its condition. The home is being sold AS IS, with no repairs or concessions to be made by the seller. Please note that all offers are subject to court approval, which may impact timing and response periods. A great opportunity with potential—ready for its next chapter.

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $872 · $73/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 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 68% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,108
• − Mortgage interest: −$5,372
• − Property taxes: −$872
• − Insurance: −$480
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$2,790
• Taxable income: $6,538
• Est. tax owed @ 24.0%: −$1,569
• After-tax cash flow: $6,140/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

• County: Lee County · 144,175 people
• Metro: Auburn-Opelika, AL
• Population (ZIP): 17,951
• Household income: $72,500
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 500.0

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 (72%)
• Race & ethnicity: White 72% Black 18% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Slovak 3% Romanian 2% Portuguese 2%
• Foreign-born: 3% · Canada, South Korea, Jamaica
• Languages at home: 95% English-only · Spanish 3% Korean 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: ▼ -28.19%
• Current HPI: 241.1403
• Rent YoY: —
• 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

1 event — show timeline

• 2026-03-27 Listed $95,900 LCMLS

Property tax history

+26.9%/yr

Latest (2025): $872 · +6.5% YoY. Source: county tax records.