2004 46th St · Phenix City, AL 36867

$165,000

2 bd · 2.0 ba · 912 sqft · SingleFamily public records · 2 Days on market

Built 1984 0.25 ac lot Est $155k · 6% over

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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 +15.0/30.0
• DSCR +4.6/10.0
• ARV discount +4.6/15.0
• Rent growth +3.8/5.0
• 1% rule +3.4/10.0
• Livability +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully updated home feels like new and offers 1,140 sq ft of comfortable living space. Major improvements completed just four years ago include new siding, roof, windows, water heater, hardwood floors, and fresh paint. Since then, a second bathroom has been added, creating even more functionality and appeal. Ideal as a starter home, this property is conveniently located with easy access to Columbus, Fort Benning, and Auburn, while also being just minutes from shopping, dining, and everyday conveniences.

Key facts

• New siding
• Fresh paint
• New water heater

Tags

• NEW SIDING
• NEW ROOF
• NEW WINDOWS
• NEW WATER HEATER
• HARDWOOD FLOORS
• FRESH PAINT

Property features AI

Finance

• Financial info: Annual tax amount listed
• HOA & community: No community amenities listed

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electricity available; Cable available
• Home design: Single-family residence; One level / single-story; No shared/common walls
• Construction: Vinyl siding construction; Shingle roof; One-story
• Exterior features: Chain-link fencing; Back yard; Asphalt driveway/road surface; City street frontage; Shingle roof; Vinyl siding construction; Has a view; No patio or porch listed; No pool or spa

Interior

• Kitchen: Electric oven
• Bedrooms: 2 main-level bedrooms
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms, both on the main level
• Heating & cooling: Central heating; Central air conditioning; Has heating and cooling
• Interior features: Other interior features
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $50 ($604/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 $139k (16.0% below list).
• Recommended offer: $139k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.1% 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: crime F, amenities F, commute 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.
• Zoned schools: Sherwood Elementary School (math 36% / reading 59%, grade D, #140 of 627 statewide, top 22%, 521 students, 80% FRL); Phenix City Intermediate School (math 18% / reading 41%, grade F, #129 of 257 statewide, top 52%, 1,044 students, 80% FRL); Central High School (math 26% / reading 21%, grade F, #139 of 305 statewide, top 45%, 1,495 students, 74% FRL).
• 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 15d on market — plan ~3-4 weeks tenant-placement turnaround); 183 units permitted in Russell County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($48k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 9y 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 $118k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,592 (16.0% 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. 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?
3. 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?
4. 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?
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: 0.84% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $155,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2004 46th St	0.00mi	2/2.0	912 (0%)	1mo	$155,000	$170	99
1810 40th St	0.48mi	3/1.0 (+1)	962 (+6%)	17mo	$125,000	$130	45

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: -11.9%
• Equity multiple: 0.56×
• Total profit: $-20,245
• Equity at exit: $24,602

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $653
• Equity at exit: $14,266

Cash invested: $46,200 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,386 high
• Mortgage (P&I): −$865
• Tax from tax record: −$111 /mo · $1,326/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $50

Break-even live

Break-even rent $1,322

Max offer price $165,000

Occupancy floor 91%

Sensitivity live

Price	-10% $144	-5% $97	+0% $50	+5% $4	+10% $-43
Rent	-10% $-59	-5% $-4	+0% $50	+5% $105	+10% $160
Rate	-1.0pp $133	-0.5pp $92	base $50	+0.5pp $8	+1.0pp $-36

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 Catherine Dr Unit A**Hunter Ward** Phenix City, AL	2.0	2.0	1021	$1,250	$1.22	15d	1	0.78mi
5001 Riverchase Dr Phenix City, AL	1.0–3.0	1.0–2.0	1130	$1,379	$1.22	15d	12	0.80mi
3622 S Railroad St Phenix City, AL	1.0–3.0	1.0–2.5	1141	$1,536	$1.35	15d	10	1.18mi
4402 Riverchase Dr Phenix City, AL	1.0–3.0	1.0–2.0	1078	$1,538	$1.43	15d	21	1.27mi
2702 N Railroad St Phenix City, AL	2.0	1.0	768	$1,200	$1.56	23d	1	1.39mi

Listing history 12 events

1. 2026-05-06
   status Pending 518-char remark

   Show marketing remark (518 chars)

   This beautifully updated home feels like new and offers 1,140 sq ft of comfortable living space. Major improvements completed just four years ago include new siding, roof, windows, water heater, hardwood floors, and fresh paint. Since then, a second bathroom has been added, creating even more functionality and appeal. Ideal as a starter home, this property is conveniently located with easy access to Columbus, Fort Benning, and Auburn, while also being just minutes from shopping, dining, and everyday conveniences.

2. 2026-05-06
   status Pending

   Show marketing remark (518 chars)

   This beautifully updated home feels like new and offers 1,140 sq ft of comfortable living space. Major improvements completed just four years ago include new siding, roof, windows, water heater, hardwood floors, and fresh paint. Since then, a second bathroom has been added, creating even more functionality and appeal. Ideal as a starter home, this property is conveniently located with easy access to Columbus, Fort Benning, and Auburn, while also being just minutes from shopping, dining, and everyday conveniences.

3. 2026-05-01
   listed $165,000 Active 518-char remark

   Show marketing remark (518 chars)

   This beautifully updated home feels like new and offers 1,140 sq ft of comfortable living space. Major improvements completed just four years ago include new siding, roof, windows, water heater, hardwood floors, and fresh paint. Since then, a second bathroom has been added, creating even more functionality and appeal. Ideal as a starter home, this property is conveniently located with easy access to Columbus, Fort Benning, and Auburn, while also being just minutes from shopping, dining, and everyday conveniences.

4. 2026-05-01
   listed $165,000 Active

   Show marketing remark (518 chars)

   This beautifully updated home feels like new and offers 1,140 sq ft of comfortable living space. Major improvements completed just four years ago include new siding, roof, windows, water heater, hardwood floors, and fresh paint. Since then, a second bathroom has been added, creating even more functionality and appeal. Ideal as a starter home, this property is conveniently located with easy access to Columbus, Fort Benning, and Auburn, while also being just minutes from shopping, dining, and everyday conveniences.

5. 2022-06-27
   soldstatus $118,000 489-char remark

   Show marketing remark (489 chars)

   Great Home! Updated, Painted, Fresh interior. A neat space that is Better than paying Rent!!! The home is roomy enough as a starter or as a singles haven! Must see the pictures or in person. Owner prefers call for an appointment to show only. No drop-bys at all. BACK ON THE MARKET !!! PREVIOUS BUYERS LOAN FELL THROUGH !!! ALL OFFERS MUST HAVE LENDER APPROVAL LETTER WITH TO BE CONSIDERED ! Home is located in north Phenix City near Lakewood Golf Course. quiet street. Private backyard.

6. 2022-06-27
   soldstatus $118,000

   Show marketing remark (489 chars)

   Great Home! Updated, Painted, Fresh interior. A neat space that is Better than paying Rent!!! The home is roomy enough as a starter or as a singles haven! Must see the pictures or in person. Owner prefers call for an appointment to show only. No drop-bys at all. BACK ON THE MARKET !!! PREVIOUS BUYERS LOAN FELL THROUGH !!! ALL OFFERS MUST HAVE LENDER APPROVAL LETTER WITH TO BE CONSIDERED ! Home is located in north Phenix City near Lakewood Golf Course. quiet street. Private backyard.

7. 2022-04-04
   listed $129,900 489-char remark

   Show marketing remark (489 chars)

   Great Home! Updated, Painted, Fresh interior. A neat space that is Better than paying Rent!!! The home is roomy enough as a starter or as a singles haven! Must see the pictures or in person. Owner prefers call for an appointment to show only. No drop-bys at all. BACK ON THE MARKET !!! PREVIOUS BUYERS LOAN FELL THROUGH !!! ALL OFFERS MUST HAVE LENDER APPROVAL LETTER WITH TO BE CONSIDERED ! Home is located in north Phenix City near Lakewood Golf Course. quiet street. Private backyard.

8. 2022-04-04
   listed $129,900

   Show marketing remark (489 chars)

   Great Home! Updated, Painted, Fresh interior. A neat space that is Better than paying Rent!!! The home is roomy enough as a starter or as a singles haven! Must see the pictures or in person. Owner prefers call for an appointment to show only. No drop-bys at all. BACK ON THE MARKET !!! PREVIOUS BUYERS LOAN FELL THROUGH !!! ALL OFFERS MUST HAVE LENDER APPROVAL LETTER WITH TO BE CONSIDERED ! Home is located in north Phenix City near Lakewood Golf Course. quiet street. Private backyard.

9. 2017-02-24
   soldstatus $79,900
10. 2017-01-01
    listed $79,900
11. 2017-01-01
    listed $79,900
12. 2003-10-22
    soldstatus $73,628

ⓘ 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: $1,326 · $111/mo
• Projected year-2 tax: $1,326 · $111/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 3/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥107°F today · 16 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: $16,631
• − Mortgage interest: −$9,243
• − Property taxes: −$1,326
• − Insurance: −$825
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$4,800
• Taxable loss: −$2,224
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,138/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: 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

Price history

+124.1% since first listed

12 events — show timeline

• 2026-05-06 Pending — CBOR
• 2026-05-06 Pending — EABOR
• 2026-05-01 Listed $165,000 EABOR
• 2026-05-01 Listed $165,000 CBOR
• 2022-06-27 Sold (Public Records) $118,000 Public Records
• 2022-06-27 Sold (MLS) $118,000 EABOR
• 2022-04-04 Listed $129,900 EABOR
• 2022-04-04 Listed $129,900 EABOR
• 2017-02-24 Sold (MLS) $79,900 EABOR
• 2017-01-01 Listed $79,900 CBOR
• 2017-01-01 Listed $79,900 EABOR
• 2003-10-22 Sold (Public Records) $73,628 Public Records

Property tax history

+7.4%/yr

Latest (2025): $1,326 · +5.7% YoY. Source: county tax records.