2132 Pierce Rd · Phenix City, AL 36867

$195,000

4 bd · 1.5 ba · 1,334 sqft · SingleFamily public records · 57 Days on market

Built 1963 0.47 ac lot $146/sqft · 16% below area Est $244k · 20% under

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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 +18.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Rent growth +3.8/5.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this freshly updated and move-in ready 4-bedroom, 1-bath home in North Phenix City/Lee County. Features include fresh paint, LVP flooring, and a fully renovated bathroom with tile shower. Major upgrades like a metal roof, encapsulated crawl space, and updated windows provide added value. Enjoy a covered front porch, screened back porch, and a mostly level yard. The new driveway offers a large parking pad with turnaround space. Located in the Lakewood school district (with believed option for Phenix City or Lee County schools) and just minutes from Publix, Walmart, pharmacies, and dining. Great home at a great price—don’t miss it!

Key facts

• Metal roof
• Updated windows
• Lvp flooring

Tags

• LVP FLOORING
• FULLY RENOVATED BATHROOM
• TILE SHOWER
• METAL ROOF
• ENCAPSULATED CRAWL SPACE
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $167 ($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 $192k (1.7% below list).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 5.0% 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: schools D+, crime F, 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: Rents rising fast (+5.3%/yr); 217 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).
• At $1,917/mo this rent would consume 48% of the median local household income ($48k/yr) (locally 1399% 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 $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

• It's been on market 57 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $113k; list at $195k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.98% ✗
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $244,089
• List price: $195,000
• Delta: -20.11%
• 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
2510 Alpha Dr	0.11mi	3/2.0 (-1)	1,348 (+1%)	0mo	$265,000	$197	86
2408 Alpha Dr	0.17mi	3/2.0 (-1)	1,422 (+7%)	8mo	$259,900	$183	67
48 Dovecrest Ct	0.30mi	3/2.0 (-1)	1,407 (+6%)	5mo	$230,000	$163	65
148 Lee Road 308/ Wellman DR Rd	0.29mi	3/2.0 (-1)	1,405 (+5%)	14mo	$258,900	$184	59
73 Lee Road 2123	0.19mi	3/2.0 (-1)	1,519 (+14%)	4mo	$272,900	$180	57
166 Leeroad 495	0.28mi	3/2.0 (-1)	1,248 (-6%)	15mo	$185,000	$148	57
1816 Pierce Rd	0.32mi	3/2.0 (-1)	1,514 (+14%)	3mo	$245,000	$162	53
23 Lee Road 0553	0.71mi	3/2.0 (-1)	1,426 (+7%)	2mo	$225,000	$158	47
1400 Pierce Rd	0.71mi	3/2.0 (-1)	1,317 (-1%)	14mo	$206,000	$156	46
3208 Thornberry Cir	0.40mi	3/2.0 (-1)	1,509 (+13%)	10mo	$259,900	$172	44
5101 Pierce Point Dr	0.71mi	3/2.0 (-1)	1,470 (+10%)	11mo	$266,000	$181	34
5105 Pierce Point Drive Dr	0.70mi	3/2.0 (-1)	1,470 (+10%)	14mo	$246,600	$168	31

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: -7.9%
• Equity multiple: 0.70×
• Total profit: $-16,363
• Equity at exit: $29,075

10-year hold

• IRR: 4.4%
• Equity multiple: 1.35×
• Total profit: $19,319
• Equity at exit: $16,860

Cash invested: $54,600 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,917 medium
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $167

Break-even live

Break-even rent $1,706

Max offer price $195,000

Occupancy floor 86%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5001 Riverchase Dr Phenix City, AL	1.0–3.0	1.0–2.0	1130	$1,569	$1.39	13d	12	1.10mi
3622 S Railroad St Phenix City, AL	1.0–3.0	1.0–2.5	1141	$1,792	$1.57	13d	10	1.50mi

Listing history 23 events

1. 2026-06-18
   days on market $195,000 Active 57 DOM
2. 2026-06-17
   days on market $195,000 Active 56 DOM
3. 2026-06-16
   days on market $195,000 Active 55 DOM
4. 2026-06-15
   days on market $195,000 Active 54 DOM
5. 2026-06-14
   days on market $195,000 Active 52 DOM
6. 2026-06-13
   pricedays on market $195,000 Active 51 DOM
7. 2026-06-10
   days on market $199,500 Active 49 DOM
8. 2026-06-09
   days on market $199,500 Active 48 DOM
9. 2026-06-08
   days on market $199,500 Active 47 DOM
10. 2026-06-07
    days on market $199,500 Active 46 DOM
11. 2026-06-05
    days on market $199,500 Active 43 DOM
12. 2026-06-03
    days on market $199,500 Active 42 DOM
13. 2026-06-02
    days on market $199,500 Active 41 DOM
14. 2026-06-01
    days on market $199,500 Active 40 DOM
15. 2026-05-31
    days on market $199,500 Active 39 DOM
16. 2026-05-30
    days on market $199,500 Active 38 DOM
17. 2026-04-22
    listed $199,500 Active 659-char remark

    Show marketing remark (659 chars)

    Check out this freshly updated and move-in ready 4-bedroom, 1-bath home in North Phenix City/Lee County. Features include fresh paint, LVP flooring, and a fully renovated bathroom with tile shower. Major upgrades like a metal roof, encapsulated crawl space, and updated windows provide added value. Enjoy a covered front porch, screened back porch, and a mostly level yard. The new driveway offers a large parking pad with turnaround space. Located in the Lakewood school district (with believed option for Phenix City or Lee County schools) and just minutes from Publix, Walmart, pharmacies, and dining. Great home at a great price—don’t miss it!

18. 2026-02-19
    soldstatus $113,069 Closed 441-char remark

    Show marketing remark (441 chars)

    Great opportunity in the heart of Phenix City! This 3 bedroom, 1.5 bath home is conveniently located close to shopping, dining, schools, and Fort Moore. The home offers an open living plan with a dedicated dining area, a bonus room for added flexibility, and a screened porch perfect for relaxing. Stainless steel appliances are already in place. An excellent option for investors, renovators, or buyers looking to add value through updates.

19. 2026-02-19
    soldstatus $113,069 Closed

    Show marketing remark (441 chars)

    Great opportunity in the heart of Phenix City! This 3 bedroom, 1.5 bath home is conveniently located close to shopping, dining, schools, and Fort Moore. The home offers an open living plan with a dedicated dining area, a bonus room for added flexibility, and a screened porch perfect for relaxing. Stainless steel appliances are already in place. An excellent option for investors, renovators, or buyers looking to add value through updates.

20. 2026-01-30
    status Pending

    Show marketing remark (441 chars)

    Great opportunity in the heart of Phenix City! This 3 bedroom, 1.5 bath home is conveniently located close to shopping, dining, schools, and Fort Moore. The home offers an open living plan with a dedicated dining area, a bonus room for added flexibility, and a screened porch perfect for relaxing. Stainless steel appliances are already in place. An excellent option for investors, renovators, or buyers looking to add value through updates.

21. 2026-01-30
    status Pending 441-char remark

    Show marketing remark (441 chars)

    Great opportunity in the heart of Phenix City! This 3 bedroom, 1.5 bath home is conveniently located close to shopping, dining, schools, and Fort Moore. The home offers an open living plan with a dedicated dining area, a bonus room for added flexibility, and a screened porch perfect for relaxing. Stainless steel appliances are already in place. An excellent option for investors, renovators, or buyers looking to add value through updates.

22. 2026-01-29
    listed $99,000 Active 441-char remark

    Show marketing remark (441 chars)

    Great opportunity in the heart of Phenix City! This 3 bedroom, 1.5 bath home is conveniently located close to shopping, dining, schools, and Fort Moore. The home offers an open living plan with a dedicated dining area, a bonus room for added flexibility, and a screened porch perfect for relaxing. Stainless steel appliances are already in place. An excellent option for investors, renovators, or buyers looking to add value through updates.

23. 2026-01-27
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 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: $23,000
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$5,673
• Taxable loss: −$1,176
• Est. tax savings @ 24.0%: +$282
• After-tax cash flow: $2,281/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 — 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

• 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 (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 0.60)
• 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 · 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: ▼ -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

+101.5% since first listed

7 events — show timeline

• 2026-04-22 Listed $199,500 EABOR
• 2026-02-19 Sold (MLS) $113,069 CBOR
• 2026-02-19 Sold (MLS) $113,069 EABOR
• 2026-01-30 Pending — CBOR
• 2026-01-30 Pending — EABOR
• 2026-01-29 Listed $99,000 EABOR
• 2026-01-27 Listed $99,000 CBOR

Property tax history

-6.6%/yr

Latest (2025): $338 · -24.2% YoY. Source: county tax records.