113 The Heights Dr · Calera, AL 35040

$185,000

3 bd · 3.0 ba · 1,344 sqft · Townhouse public records · 26 Days on market

Built 2010 3,179 sqft lot $138/sqft · 7% below area Est $198k · 7% under $25/mo HOA · 1% of rent

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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 +16.9/30.0
• ARV discount +10.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.3/10.0
• Schools +3.9/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this 3-bedroom, 2.5-bath townhome in Calera featuring a spacious, functional layout with thoughtful updates throughout. The main level offers durable vinyl flooring, crown molding, and an open flow between the living area and kitchen, combining style with low-maintenance living. The kitchen includes ample cabinet space and opens to a light-filled dining area. Upstairs, all three bedrooms include a generously sized primary suite with vaulted ceilings and a private en-suite bath. New carpet and fresh paint in select areas make this home move-in ready. Enjoy a private, fenced-in backyard with a patio perfect for relaxing or entertaining. Conveniently located just minutes from I-65 via the Shelby County Airport exit and close to shopping and dining.

Key facts

• Vinyl flooring
• Ample cabinet space
• Patio

Tags

• VINYL FLOORING
• CROWN MOLDING
• AMPLE CABINET SPACE
• LIGHT-FILLED DINING AREA
• PRIVATE FENCED-IN BACKYARD
• PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/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 $171k (7.3% below list).
• Recommended offer: $171k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.5% in Calera — 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 59/100 on livability (#325 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, employment A-; Watch: schools D+, amenities F, commute F.
• Shelby County (suburban): math 30% / reading 58% proficiency, ranked #16 of 129 in AL (top 12%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.7%/yr); 374 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 987 units permitted in Shelby County in 2024 (0 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.
• Shelby County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 $122k; list at $185k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% 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 $171,440 (7.3% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.93% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 9.0

CMA / ARV

• ARV (median comp): $198,294
• List price: $185,000
• Delta: -6.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
113 The Heights Dr	0.00mi	3/2.5	1,344 (0%)	0mo	$188,000	$140	98
520 The Heights Ln	0.09mi	3/2.5	1,338 (-0%)	0mo	$190,000	$142	93
562 The Heights Ln	0.10mi	3/2.5	1,326 (-1%)	5mo	$180,000	$136	87
205 The Heights Dr	0.11mi	3/2.5	1,348 (+0%)	7mo	$164,500	$122	86
209 The Heights Dr	0.12mi	3/2.5	1,351 (+0%)	10mo	$205,000	$152	83
566 The Heights Ln	0.10mi	3/2.5	1,298 (-3%)	7mo	$196,000	$151	82
586 The Heights Ln	0.12mi	3/2.5	1,326 (-1%)	18mo	$197,000	$149	76
157 The Heights Dr	0.06mi	3/2.5	1,498 (+12%)	6mo	$184,333	$123	71
225 The Heights Dr	0.14mi	3/2.5	1,244 (-7%)	11mo	$191,500	$154	70
100 Little John Cir	0.25mi	2/2.0 (-1)	1,264 (-6%)	4mo	$189,900	$150	66
667 The Heights Ln	0.18mi	3/2.5	1,504 (+12%)	7mo	$202,000	$134	64
639 The Heights Ln	0.15mi	2/2.5 (-1)	1,230 (-8%)	18mo	$189,900	$154	57

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 · 3.67% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-21,131
• Equity at exit: $27,584

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-3,671
• Equity at exit: $15,995

Cash invested: $51,800 (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 35040

• Home prices YoY: -16.5%
• Rents YoY: 3.7%
• Active inventory: 374
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,714 high
• Mortgage (P&I): −$970
• Tax from tax record: −$161 /mo · $1,938/yr
• Insurance: −$77
• HOA: −$25
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $121

Break-even live

Break-even rent $1,562

Max offer price $185,000

Occupancy floor 88%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
680 The Heights Ln Calera, AL	3.0	2.5	1397	$1,750	$1.25	1d	1	0.19mi
699 The Heights Ln Calera, AL	2.0	2.5	1100	$1,400	$1.27	10d	1	0.20mi
192 Stonecreek Pl Calera, AL	3.0	2.0	1220	$1,738	$1.42	3d	1	0.28mi
141 Union Station Dr Calera, AL	4.0	2.5	1800	$1,695	$0.94	23d	1	0.29mi
2027 Rossburg Pl Calera, AL	2.0	2.0	1073	$1,300	$1.21	23d	1	0.30mi
2000 Rossburg Pl Calera, AL	2.0	2.0	1142	$1,500	$1.31	3d	1	0.32mi
316 Union Station Dr Calera, AL	4.0	2.0	1620	$1,775	$1.10	43d	1	0.36mi
155 King Richards Way Calera, AL	3.0	2.5	1804	$1,900	$1.05	3d	1	0.44mi
916 Daventry Trl Calera, AL	3.0	2.0	1331	$1,550	$1.16	2d	1	0.49mi
549 Waterstone Dr Montevallo, AL	3.0	2.0	1651	$1,601	$0.97	14d	1	0.56mi
951 Savannah Ln Calera, AL	3.0	2.0	1512	$1,595	$1.05	1d	1	0.72mi
115 Charlton Ln Calera, AL	3.0	2.0	1367	$1,695	$1.24	43d	1	0.73mi
446 Savannah Cv Calera, AL	3.0	2.0	1492	$1,800	$1.21	23d	1	1.15mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 6 events

1. 2026-05-05
   status Pending 771-char remark

   Show marketing remark (771 chars)

   Welcome home to this 3-bedroom, 2.5-bath townhome in Calera featuring a spacious, functional layout with thoughtful updates throughout. The main level offers durable vinyl flooring, crown molding, and an open flow between the living area and kitchen, combining style with low-maintenance living. The kitchen includes ample cabinet space and opens to a light-filled dining area. Upstairs, all three bedrooms include a generously sized primary suite with vaulted ceilings and a private en-suite bath. New carpet and fresh paint in select areas make this home move-in ready. Enjoy a private, fenced-in backyard with a patio perfect for relaxing or entertaining. Conveniently located just minutes from I-65 via the Shelby County Airport exit and close to shopping and dining.

2. 2026-04-09
   listed $185,000 Active 771-char remark

   Show marketing remark (771 chars)

   Welcome home to this 3-bedroom, 2.5-bath townhome in Calera featuring a spacious, functional layout with thoughtful updates throughout. The main level offers durable vinyl flooring, crown molding, and an open flow between the living area and kitchen, combining style with low-maintenance living. The kitchen includes ample cabinet space and opens to a light-filled dining area. Upstairs, all three bedrooms include a generously sized primary suite with vaulted ceilings and a private en-suite bath. New carpet and fresh paint in select areas make this home move-in ready. Enjoy a private, fenced-in backyard with a patio perfect for relaxing or entertaining. Conveniently located just minutes from I-65 via the Shelby County Airport exit and close to shopping and dining.

3. 2019-11-04
   soldstatus $122,000
4. 2019-10-31
   soldstatus $122,000 Sold 417-char remark

   Show marketing remark (417 chars)

   Check out this well-maintained townhome in Townside Square of Calera! Offering a spacious, open-concept floor plan, this home features a large living room, eat-in kitchen with plenty of cabinet space, and a main-level half bath. Upstairs, you'll find a nicely-sized Master Suite, two additional bedrooms and an additional full bath. Located near restaurants, interstates, and schools, this home has so much to offer!

5. 2019-08-15
   historical Contingent 417-char remark

   Show marketing remark (417 chars)

   Check out this well-maintained townhome in Townside Square of Calera! Offering a spacious, open-concept floor plan, this home features a large living room, eat-in kitchen with plenty of cabinet space, and a main-level half bath. Upstairs, you'll find a nicely-sized Master Suite, two additional bedrooms and an additional full bath. Located near restaurants, interstates, and schools, this home has so much to offer!

6. 2019-07-31
   listed $124,900 Active 417-char remark

   Show marketing remark (417 chars)

   Check out this well-maintained townhome in Townside Square of Calera! Offering a spacious, open-concept floor plan, this home features a large living room, eat-in kitchen with plenty of cabinet space, and a main-level half bath. Upstairs, you'll find a nicely-sized Master Suite, two additional bedrooms and an additional full bath. Located near restaurants, interstates, and schools, this home has so much to offer!

ⓘ 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: $1,938 · $161/mo
• Projected year-2 tax: $1,938 · $161/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 7/10 Severe 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,573
• − Mortgage interest: −$10,363
• − Property taxes: −$1,938
• − Insurance: −$925
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$300
• − Depreciation: −$5,382
• Taxable loss: −$1,626
• Est. tax savings @ 24.0%: +$390
• After-tax cash flow: $1,838/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: Shelby County
• NCES district ID: 0103030
• Math proficiency: 30% ▼ -28.00%
• Reading proficiency: 58% ▲ 2.00%
• Median HH income: $66,672
• Composite: 39.29/100
• National rank: #3995
• State rank: #16 of 129 in AL

Livability — Calera

• Score: 59/100
• State rank: #325
• US rank: #19917

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Calera, AL
• County: Shelby County · 188,970 people
• City population: 19,304
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 19,304
• Household income: $84,554
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 388.0

Population outlook (Shelby County) Hauer SSP2

• Today (2025): 237,024 people
• By 2030: 249,868 · +5.4%
• By 2040: 272,778 · +15.1%
• By 2050: 291,062 · +22.8%
• By 2075: 326,049 · +37.6%
• By 2100: 335,870 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 59% Black 30% Hispanic / Latino 9% Two or more races 3%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 3% Italian 1% Serbian 1%
• Foreign-born: 6% · Canada, China
• Languages at home: 91% English-only · Spanish 6% Arabic 1% Chinese 1%

Political lean MEDSL · Shelby

• 2024 margin: Solid R (+40.9) · D 29.0% · R 69.9% · Other 1.1%
• 2008→2024 swing: +12.6pp toward D · 2008: -53.4pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+40.4 2016: R+50.3 2012: R+55.6 2008: R+53.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -43.58%
• Current HPI: 220.2843
• Rent YoY: ▲ 3.67%
• Metro: Birmingham-Hoover, 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

+48.1% since first listed

6 events — show timeline

• 2026-05-05 Pending — Greater Alabama MLS
• 2026-04-09 Listed $185,000 Greater Alabama MLS
• 2019-11-04 Sold (Public Records) $122,000 Public Records
• 2019-10-31 Sold (MLS) $122,000 Greater Alabama MLS
• 2019-08-15 Contingent — Greater Alabama MLS
• 2019-07-31 Listed $124,900 Greater Alabama MLS

Property tax history

+10.7%/yr

Latest (2025): $1,938 · +0.3% YoY. Source: county tax records.