1509 Albert Ct · Opelika, AL 36801

$292,000

3 bd · 1.5 ba · 1,420 sqft · SingleFamily public records · 16 Days on market

Built 1999 0.36 ac lot Est $297k · at est.

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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 +13.8/30.0
• ARV discount +8.2/15.0
• DSCR +4.2/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A top pick to snag plus a $4,000 painting allowance!! Nestled on a friendly cul-de-sac in the Ridge Road subdivision, this updated 3-bedroom, 2.5-bath home w/ front & back porches plus a desirable location convenient to so many things Opelika is excited to welcome you in for a tour! Inside, soaring cathedral ceilings and a cozy wood-burning fireplace create an inviting living space leading through breakfast nook w/ backyard views. The kitchen features quartz countertops, a neutral subway tile backsplash, stainless steel appliances, pantry storage and a handy glass washer! The thoughtfully designed main-level layout also includes the primary suite, laundry room, half bath and flex sp

Key facts

• 0.36 acre lot
• 2 garage spots
• Built 1999

Property features AI

Finance

• Other: Directions available to property
• HOA & community: Association amenities: Other

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Cable available; Electricity available; Water available; Sewer connected
• Home design: Residential property; One and one-half story; Located in a cul-de-sac; Has a view; Subdivision: RIDGE ROAD
• Construction: Masonite exterior; Slab foundation; Built area above grade: 1,582
• Exterior features: Storage; Rear covered porch; Front porch; Patio; Fenced yard (full chain link)

Interior

• Kitchen: Cooktop; Electric range; Oven; Microwave; Dishwasher; Disposal; Other appliances
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Ceramic tile; Simulated wood; Vinyl; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Heat pump heating; Heat pump cooling; Ceiling fans
• Interior features: Ceiling fans; Pantry; Window treatments; Wood-burning fireplace (1)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $292k.

Deal economics

• At list price, monthly cash flow is $24 ($294/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 $224k (23.4% below list).
• Recommended offer: $224k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Rents rising fast (+6.2%/yr); 534 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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).
• This rent runs 43% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($288k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% 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 $223,680 (23.4% 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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $296,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
878 Village Dr	0.52mi	3/2.0	1,455 (+2%)	2mo	$297,000	$204	68
830 Village Dr	0.58mi	3/2.0	1,448 (+2%)	2mo	$279,900	$193	66
1085 Woodland Ln	0.58mi	3/2.0	1,448 (+2%)	2mo	$292,462	$202	66
1253 Woodland Cir	0.67mi	3/2.0	1,425 (+0%)	2mo	$305,000	$214	65
780 Village Dr	0.66mi	3/2.0	1,391 (-2%)	3mo	$311,000	$224	62
1300 Woodland Cir	0.67mi	3/2.0	1,456 (+2%)	2mo	$303,900	$209	61
1222 Woodland Cir	0.70mi	3/2.0	1,395 (-2%)	2mo	$310,000	$222	61
2058 Superior Dr	0.74mi	3/2.0	1,461 (+3%)	0mo	$299,000	$205	58
1210 Woodland Cir	0.69mi	3/2.0	1,354 (-5%)	1mo	$305,000	$225	58
788 Village Dr	0.64mi	2/2.0 (-1)	1,255 (-12%)	0mo	$276,000	$220	44
1289 Woodland Cir	0.65mi	4/3.0 (+1)	1,590 (+12%)	2mo	$319,900	$201	37
764 Village Dr	0.69mi	4/3.0 (+1)	1,590 (+12%)	0mo	$322,500	$203	37

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 · 6.25% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.53×
• Total profit: $-38,340
• Equity at exit: $43,538

10-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $1,206
• Equity at exit: $25,247

Cash invested: $81,760 (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 36801

• Home prices YoY: -30.9%
• Rents YoY: 6.2%
• Active inventory: 534
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,237 high
• Mortgage (P&I): −$1,531
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $24

Break-even live

Break-even rent $2,206

Max offer price $292,000

Occupancy floor 94%

Sensitivity live

Price	-10% $190	-5% $107	+0% $24	+5% $-58	+10% $-141
Rent	-10% $-152	-5% $-64	+0% $24	+5% $113	+10% $201
Rate	-1.0pp $172	-0.5pp $99	base $24	+0.5pp $-51	+1.0pp $-128

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: $73,000
• Closing costs: $8,760
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1177 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.29mi
1171 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.31mi
1165 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.32mi
1153 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.35mi
1147 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.36mi
1141 Douglas St Opelika, AL	3.0	2.0	1665	$2,400	$1.44	45d	1	0.36mi
1098 Burrow Cir Opelika, AL	2.0	2.0	1183	$1,600	$1.35	45d	1	0.78mi
676 Village Dr Opelika, AL	2.0	2.0	1255	$1,975	$1.57	23d	1	0.82mi
403 Raintree St Opelika, AL	4.0	2.0	1680	$1,500	$0.89	15d	1	1.41mi

Listing history 15 events

1. 2026-06-18
   status $292,000 Pending 16 DOM
2. 2026-06-18
   days on market $292,000 Active 16 DOM
3. 2026-06-17
   days on market $292,000 Active 15 DOM
4. 2026-06-16
   days on market $292,000 Active 14 DOM
5. 2026-06-15
   days on market $292,000 Active 13 DOM
6. 2026-06-14
   days on market $292,000 Active 11 DOM
7. 2026-06-13
   days on market $292,000 Active 10 DOM
8. 2026-06-10
   days on market $292,000 Active 8 DOM
9. 2026-06-09
   days on market $292,000 Active 7 DOM
10. 2026-06-08
    days on market $292,000 Active 6 DOM
11. 2026-06-07
    days on market $292,000 Active 5 DOM
12. 2026-06-05
    days on market $292,000 Active 2 DOM
13. 2026-06-03
    status $292,000 Active 1 DOM
14. 2026-06-02
    remarks 695-char remark
15. 2026-06-02
    listed $292,000 Coming Soon 1 DOM

ⓘ 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: $1,076 · $90/mo
• Projected year-2 tax: $1,197 · $100/mo
• Expected delta: +$122/yr (+$10/mo · 11.3%)

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $26,842
• − Mortgage interest: −$16,357
• − Property taxes: −$1,076
• − Insurance: −$1,460
• − Repairs & maintenance: −$2,147
• − Management: −$2,147
• − Depreciation: −$8,495
• Taxable loss: −$4,840
• Est. tax savings @ 24.0%: +$1,162
• After-tax cash flow: $1,455/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): 25,438
• Household income: $62,414
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1025.0

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 0.58)
• Race & ethnicity: White 53% Black 37% Hispanic / Latino 8% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 2% Cuban 1%
• Common ancestry: Slovak 3% Italian 2% Serbian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 4% Chinese 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: ▼ -116.80%
• Current HPI: 261.6632
• Rent YoY: ▲ 6.25%
• 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

+96.1% since first listed

2 events — show timeline

• 2026-06-02 Coming Soon $292,000 LCMLS
• 2014-10-30 Listed $148,900 LCMLS

Property tax history

+4.2%/yr

Latest (2025): $1,076 · +0.0% YoY. Source: county tax records.