2904 Ashley Ln · Opelika, AL 36804

$359,000

4 bd · 2.5 ba · 2,641 sqft · SingleFamily public records · 80 Days on market

Built 2016 8,712 sqft lot $136/sqft · at area comps Est $350k · at est.

---

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 +15.6/30.0
• ARV discount +6.4/15.0
• DSCR +4.8/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Brand new exterior paint!! Spacious 4-bedroom, 2.5-bath home offering over 2,600 SQFT of well-designed living space with no HOA fees! The main level features a functional layout with a formal dining room, breakfast area, and a large living room centered around a wood-burning fireplace. The kitchen offers ample cabinet space, a center island, walk-in pantry, and seamless flow into the main living areas—perfect for everyday living or entertaining. Upstairs, all four bedrooms are thoughtfully positioned, including a generous primary suite with a spacious bedroom, garden tub, and plenty of counter space. Outside, enjoy a covered rear porch overlooking a fully fenced private backyard. Conveniently located just minutes from I-85, the Opelika Sportsplex, Southern Union State Community College, and a short drive to Auburn, this home offers space, comfort, and an excellent Opelika location.

Key facts

• Walk in pantry
• Covered rear porch
• 8,712 sq ft lot

Tags

• BRAND NEW EXTERIOR PAINT
• WOOD BURNING FIREPLACE
• WALK IN PANTRY
• COVERED REAR PORCH
• FULLY FENCED PRIVATE BACKYARD
• EXCELLENT OPELIKA LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $359k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $292k (18.8% below list).
• Recommended offer: $292k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 3.8% in Opelika — 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 63/100 on livability (#188 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Opelika City (urban): math 27% / reading 43% proficiency, ranked #45 of 129 in AL (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jeter Primary School (422 students, 71% FRL); Opelika Middle School (math 19% / reading 39%, grade F, #134 of 257 statewide, top 53%, 1,132 students, 72% FRL); Opelika High School (math 27% / reading 24%, grade F, #111 of 305 statewide, top 37%, 1,562 students, 62% FRL).
• Market conditions: 397 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).
• At $2,916/mo this rent would consume 57% of the median local household income ($62k/yr) (locally 399% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 80 days — a 6% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y 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 $300k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $291,641 (18.8% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 19% 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. 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?
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: 0.81% ✗
• Cap rate: 6.79%
• Cash-on-cash: 1.79%
• DSCR: 1.08
• GRM: 10.3

CMA / ARV

• ARV (median comp): $350,127
• List price: $359,000
• Delta: 2.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2907 Hannah Way	0.02mi	4/2.5	2,638 (-0%)	12mo	$346,000	$131	89
2504 Rocky Point Dr	0.16mi	4/2.5	2,331 (-12%)	1mo	$350,000	$150	72
2701 Carriage House Ln	0.25mi	4/2.5	2,593 (-2%)	20mo	$327,000	$126	68
2501 Harding Ct	0.11mi	4/3.0	2,272 (-14%)	2mo	$368,350	$162	68
2513 Northtowne Dr	0.27mi	5/3.0 (+1)	2,840 (+8%)	1mo	$400,000	$141	67
2501 Harding Ct #12	0.14mi	4/3.0	2,272 (-14%)	2mo	$368,350	$162	67
2507 Rocky Point Dr	0.19mi	4/2.5	2,516 (-5%)	24mo	$339,900	$135	64
2410 Rocky Point Dr	0.19mi	4/2.5	2,406 (-9%)	22mo	$305,000	$127	58
2705 Carriage House Ln	0.23mi	4/2.5	2,331 (-12%)	24mo	$319,000	$137	50
2097 Andrews Rd	0.69mi	4/2.5	2,923 (+11%)	24mo	$442,000	$151	30

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: -13.5%
• Equity multiple: 0.51×
• Total profit: $-48,806
• Equity at exit: $53,528

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-30,873
• Equity at exit: $31,040

Cash invested: $100,520 (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 36804

• Home prices YoY: -19.0%
• Active inventory: 397
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,916 medium
• Mortgage (P&I): −$1,883
• Tax from tax record: −$122 /mo · $1,467/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$612
• Net cashflow: $150

Break-even live

Break-even rent $2,727

Max offer price $359,000

Occupancy floor 90%

Sensitivity live

Price	-10% $353	-5% $251	+0% $150	+5% $48	+10% $-54
Rent	-10% $-81	-5% $34	+0% $150	+5% $265	+10% $380
Rate	-1.0pp $330	-0.5pp $241	base $150	+0.5pp $57	+1.0pp $-38

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1785 Hanson St Opelika, AL	4.0	3.5	2561	$3,500	$1.37	15d	1	1.23mi
1771 Hanson St Opelika, AL	4.0	3.5	2637	$3,500	$1.33	45d	1	1.24mi
1743 Hanson St Opelika, AL	3.0	2.5	2235	$3,050	$1.36	45d	1	1.26mi
1729 Hanson St Opelika, AL	3.0	2.5	2012	$2,750	$1.37	45d	1	1.28mi

Listing history 27 events

1. 2026-06-21
   days on market $359,000 Active 80 DOM
2. 2026-06-19
   days on market $359,000 Active 78 DOM
3. 2026-06-18
   days on market $359,000 Active 77 DOM
4. 2026-06-17
   days on market $359,000 Active 76 DOM
5. 2026-06-16
   days on market $359,000 Active 75 DOM
6. 2026-06-15
   days on market $359,000 Active 74 DOM
7. 2026-06-14
   days on market $359,000 Active 72 DOM
8. 2026-06-13
   days on market $359,000 Active 71 DOM
9. 2026-06-10
   days on market $359,000 Active 69 DOM
10. 2026-06-09
    days on market $359,000 Active 68 DOM
11. 2026-06-08
    days on market $359,000 Active 67 DOM
12. 2026-06-07
    days on market $359,000 Active 66 DOM
13. 2026-06-05
    days on market $359,000 Active 63 DOM
14. 2026-06-03
    days on market $359,000 Active 62 DOM
15. 2026-06-03
    status $359,000 Active 61 DOM
16. 2026-05-05
    status Pending 900-char remark

    Show marketing remark (900 chars)

    Brand new exterior paint!! Spacious 4-bedroom, 2.5-bath home offering over 2,600 SQFT of well-designed living space with no HOA fees! The main level features a functional layout with a formal dining room, breakfast area, and a large living room centered around a wood-burning fireplace. The kitchen offers ample cabinet space, a center island, walk-in pantry, and seamless flow into the main living areas—perfect for everyday living or entertaining. Upstairs, all four bedrooms are thoughtfully positioned, including a generous primary suite with a spacious bedroom, garden tub, and plenty of counter space. Outside, enjoy a covered rear porch overlooking a fully fenced private backyard. Conveniently located just minutes from I-85, the Opelika Sportsplex, Southern Union State Community College, and a short drive to Auburn, this home offers space, comfort, and an excellent Opelika location.

17. 2026-04-06
    price $359,000 900-char remark

    Show marketing remark (900 chars)

    Brand new exterior paint!! Spacious 4-bedroom, 2.5-bath home offering over 2,600 SQFT of well-designed living space with no HOA fees! The main level features a functional layout with a formal dining room, breakfast area, and a large living room centered around a wood-burning fireplace. The kitchen offers ample cabinet space, a center island, walk-in pantry, and seamless flow into the main living areas—perfect for everyday living or entertaining. Upstairs, all four bedrooms are thoughtfully positioned, including a generous primary suite with a spacious bedroom, garden tub, and plenty of counter space. Outside, enjoy a covered rear porch overlooking a fully fenced private backyard. Conveniently located just minutes from I-85, the Opelika Sportsplex, Southern Union State Community College, and a short drive to Auburn, this home offers space, comfort, and an excellent Opelika location.

18. 2026-03-04
    listed $360,000 Active 900-char remark

    Show marketing remark (900 chars)

    Brand new exterior paint!! Spacious 4-bedroom, 2.5-bath home offering over 2,600 SQFT of well-designed living space with no HOA fees! The main level features a functional layout with a formal dining room, breakfast area, and a large living room centered around a wood-burning fireplace. The kitchen offers ample cabinet space, a center island, walk-in pantry, and seamless flow into the main living areas—perfect for everyday living or entertaining. Upstairs, all four bedrooms are thoughtfully positioned, including a generous primary suite with a spacious bedroom, garden tub, and plenty of counter space. Outside, enjoy a covered rear porch overlooking a fully fenced private backyard. Conveniently located just minutes from I-85, the Opelika Sportsplex, Southern Union State Community College, and a short drive to Auburn, this home offers space, comfort, and an excellent Opelika location.

19. 2025-01-31
    soldstatus $299,999 Closed 994-char remark

    Show marketing remark (994 chars)

    A large, 4 bedroom home for under $300,000 WITHOUT HOA fees does EXIST!!! This home has your formal dining room, breakfast room, large living room and super-spacious kitchen with the walk-in pantry that you have been looking for! All bedrooms are upstairs to keep the downstairs neat and tidy and always 'put together'! If you need a fence, then don't worry this home already has it installed and it's a nice privacy wooden fence for you to be able to move right in. My favorite features: primary suite with sizeable bedroom and lots of counter space in the bathroom, the organizational area between the dining room and kitchen, and the open floor plan to living room and kitchen. Archways into the living spaces from the entry hall provide interesting details and the cubby area off of the garage is purposeful and well-placed. You are only a 4 minute drive to the Opelika Sportsplex from this lovely home, 7 minutes to Southern Union State Community College and less than 4 minutes to I-85.

20. 2024-12-12
    status Pending 994-char remark

    Show marketing remark (994 chars)

    A large, 4 bedroom home for under $300,000 WITHOUT HOA fees does EXIST!!! This home has your formal dining room, breakfast room, large living room and super-spacious kitchen with the walk-in pantry that you have been looking for! All bedrooms are upstairs to keep the downstairs neat and tidy and always 'put together'! If you need a fence, then don't worry this home already has it installed and it's a nice privacy wooden fence for you to be able to move right in. My favorite features: primary suite with sizeable bedroom and lots of counter space in the bathroom, the organizational area between the dining room and kitchen, and the open floor plan to living room and kitchen. Archways into the living spaces from the entry hall provide interesting details and the cubby area off of the garage is purposeful and well-placed. You are only a 4 minute drive to the Opelika Sportsplex from this lovely home, 7 minutes to Southern Union State Community College and less than 4 minutes to I-85.

21. 2024-12-06
    listed $299,999 Active 994-char remark

    Show marketing remark (994 chars)

    A large, 4 bedroom home for under $300,000 WITHOUT HOA fees does EXIST!!! This home has your formal dining room, breakfast room, large living room and super-spacious kitchen with the walk-in pantry that you have been looking for! All bedrooms are upstairs to keep the downstairs neat and tidy and always 'put together'! If you need a fence, then don't worry this home already has it installed and it's a nice privacy wooden fence for you to be able to move right in. My favorite features: primary suite with sizeable bedroom and lots of counter space in the bathroom, the organizational area between the dining room and kitchen, and the open floor plan to living room and kitchen. Archways into the living spaces from the entry hall provide interesting details and the cubby area off of the garage is purposeful and well-placed. You are only a 4 minute drive to the Opelika Sportsplex from this lovely home, 7 minutes to Southern Union State Community College and less than 4 minutes to I-85.

22. 2024-11-17
    historical $299,999 994-char remark

    Show marketing remark (994 chars)

    A large, 4 bedroom home for under $300,000 WITHOUT HOA fees does EXIST!!! This home has your formal dining room, breakfast room, large living room and super-spacious kitchen with the walk-in pantry that you have been looking for! All bedrooms are upstairs to keep the downstairs neat and tidy and always 'put together'! If you need a fence, then don't worry this home already has it installed and it's a nice privacy wooden fence for you to be able to move right in. My favorite features: primary suite with sizeable bedroom and lots of counter space in the bathroom, the organizational area between the dining room and kitchen, and the open floor plan to living room and kitchen. Archways into the living spaces from the entry hall provide interesting details and the cubby area off of the garage is purposeful and well-placed. You are only a 4 minute drive to the Opelika Sportsplex from this lovely home, 7 minutes to Southern Union State Community College and less than 4 minutes to I-85.

23. 2019-06-25
    soldstatus $229,900
24. 2019-06-25
    soldstatus $229,900
25. 2019-04-26
    listed $229,900
26. 2017-03-24
    soldstatus $214,900
27. 2016-06-10
    listed $214,900

ⓘ 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: $1,467 · $122/mo
• Projected year-2 tax: $1,472 · $123/mo
• Expected delta: +$5/yr ($0/mo · 0.4%)

ⓘ 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 ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,997
• − Mortgage interest: −$20,110
• − Property taxes: −$1,467
• − Insurance: −$1,795
• − Repairs & maintenance: −$2,800
• − Management: −$2,800
• − Depreciation: −$10,444
• Taxable loss: −$4,417
• Est. tax savings @ 24.0%: +$1,060
• After-tax cash flow: $2,855/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: Opelika City
• NCES district ID: 0102580
• Math proficiency: 27% ▼ -25.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $40,081
• Composite: 29.34/100
• National rank: #6541
• State rank: #45 of 129 in AL

Livability — Opelika

• Score: 63/100
• State rank: #188
• US rank: #15556

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Opelika, AL
• County: Lee County · 144,175 people
• City population: 45,973
• Metro: Auburn-Opelika, AL
• Population (ZIP): 20,535
• Household income: $61,880
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 399.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 27% Hispanic / Latino 8% Two or more races 6% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 90% English-only · Spanish 8% Korean 1% Other Indo-European 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: ▼ -49.83%
• Current HPI: 212.8718
• 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

+67.1% since first listed

12 events — show timeline

• 2026-05-05 Pending — LCMLS
• 2026-04-06 Price Changed $359,000 LCMLS
• 2026-03-04 Listed $360,000 LCMLS
• 2025-01-31 Sold (MLS) $299,999 LCMLS
• 2024-12-12 Pending — LCMLS
• 2024-12-06 Listed $299,999 LCMLS
• 2024-11-17 Coming Soon $299,999 LCMLS
• 2019-06-25 Sold (Public Records) $229,900 Public Records
• 2019-06-25 Sold (MLS) $229,900 LCMLS
• 2019-04-26 Listed $229,900 LCMLS
• 2017-03-24 Sold (MLS) $214,900 LCMLS
• 2016-06-10 Listed $214,900 LCMLS

Property tax history

+14.7%/yr

Latest (2025): $1,467 · +0.0% YoY. Source: county tax records.