135 Wear Dr · Underwood-Petersville, AL 35633

$188,600

4 bd · 2.0 ba · 2,310 sqft · SingleFamily public records · 17 Days on market

Built 1963 0.79 ac lot $82/sqft · 43% below area Est $330k · 43% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• DSCR +4.1/10.0
• Schools +2.8/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property is being Sold "As Is" with no Warranties either Expressed or Implied by Seller or their Agents. Sale subject to final court Approval.

Key facts

• 0.79 acre lot
• Built 1963
• Listed 17 days

Property features AI

Exterior

• Utilities: Septic tank sewer
• Home design: Single-family residential property
• Construction: 2,310 above-grade finished area
• Exterior features: Lot dimensions approximately 165 x 210; Approximately 0.79 acre lot; Located in the Mansion View Estates subdivision; Zoned R1

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms
• Interior features: 10 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-59 ($-707/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (22.9% below list).
• Recommended offer: $145k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.3% in Underwood-Petersville — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lauderdale County (rural): math 19% / reading 46% proficiency, ranked #53 of 129 in AL (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Underwood Elementary School (math 12% / reading 42%, grade F, #392 of 627 statewide, top 65%, 325 students, 58% FRL); Lauderdale County High School (math 23% / reading 41%, grade F, #59 of 305 statewide, top 21%, 543 students, 51% FRL) — zoned schools average 54% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 184 active listings in the ZIP; 164 units permitted in Lauderdale County in 2024 (72 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; moderate wind risk, 23% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,373 (22.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.77% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.17%
• DSCR: 1.01
• GRM: 10.8

CMA / ARV

• ARV (median comp): $330,000
• List price: $188,600
• Delta: -42.85%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
85 Wear Dr	0.05mi	4/2.0	2,209 (-4%)	14mo	$244,900	$111	79
6480 Co Rd 41	0.28mi	3/2.5 (-1)	2,194 (-5%)	6mo	$330,000	$150	67
469 Betsy Ross Ln	0.25mi	3/3.0 (-1)	2,400 (+4%)	10mo	$315,000	$131	64
350 Betsy Ross Ln	0.21mi	3/2.0 (-1)	1,973 (-15%)	3mo	$380,000	$193	58
220 Dowdy Ln	0.58mi	4/3.0	2,177 (-6%)	19mo	$329,900	$152	43

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: -18.5%
• Equity multiple: 0.35×
• Total profit: $-34,351
• Equity at exit: $28,121

10-year hold

• IRR: -11.0%
• Equity multiple: 0.34×
• Total profit: $-34,896
• Equity at exit: $16,307

Cash invested: $52,808 (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 35633

• Home prices YoY: -22.6%
• Active inventory: 184
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$989
• Tax from tax record: −$73 /mo · $880/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $-59

Break-even live

Break-even rent $1,528

Max offer price $178,191

Occupancy floor 99%

Sensitivity live

Price	-10% $48	-5% $-6	+0% $-59	+5% $-112	+10% $-166
Rent	-10% $-174	-5% $-116	+0% $-59	+5% $-2	+10% $56
Rate	-1.0pp $36	-0.5pp $-11	base $-59	+0.5pp $-108	+1.0pp $-158

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: $47,150
• Closing costs: $5,658
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-01
   statusdays on market $188,600 Pending 17 DOM
2. 2026-05-31
   days on market $188,600 Active 16 DOM
3. 2026-05-30
   days on market $188,600 Active 15 DOM
4. 2026-05-12
   listed $188,600 Active 157-char remark

ⓘ 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: $880 · $73/mo
• Projected year-2 tax: $880 · $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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 23% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,445
• − Mortgage interest: −$10,565
• − Property taxes: −$880
• − Insurance: −$1,740
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$5,487
• Taxable loss: −$4,017
• Est. tax savings @ 24.0%: +$964
• After-tax cash flow: $257/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: Lauderdale County
• NCES district ID: 0102010
• Math proficiency: 19% ▼ -35.00%
• Reading proficiency: 46% ▼ -7.00%
• Median HH income: $47,501
• Composite: 27.93/100
• National rank: #6863
• State rank: #53 of 129 in AL

Livability — Underwood-Petersville

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 20,733

Population outlook (Lauderdale County) Hauer SSP2

• Today (2025): 93,386 people
• By 2030: 93,634 · +0.3%
• By 2040: 93,114 · -0.3%
• By 2050: 91,586 · -1.9%
• By 2075: 88,667 · -5.1%
• By 2100: 81,098 · -13.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Black 7% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Serbian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Lauderdale

• 2024 margin: Solid R (+51.5) · D 23.8% · R 75.3%
• 2008→2024 swing: -23.3pp toward R · 2008: -28.2pp · 2024: -51.5pp
• All cycles: 2024: R+51.5 2020: R+44.7 2016: R+46.0 2012: R+30.9 2008: R+28.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.91%
• Current HPI: 198.6547
• 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

2 events — show timeline

• 2026-06-01 Pending — SAARMLS
• 2026-05-12 Listed $188,600 SAARMLS

Property tax history

-22.9%/yr

Latest (2020): $880 · -22.9% YoY. Source: county tax records.