802-83 Longleaf Dr W · Auburn, AL 36832

$315,000

4 bd · 4.0 ba · 1,877 sqft · Condo · 15 Days on market

Built 2003 $189/mo HOA · 7% 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 +10.9/30.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• 1% rule +4.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location in Eagles Landing! Turn right at the stop sign and the property is in the cul-de-sac. 4 bedroom, 4 bath with large living and open kitchen. One tenant will remain until July 31st, 2020 rented at $400 per month. All other tenants will be out at the end of May. New stove and new HVAC in 2019. 48 hour notice to show. .

Key facts

• New stove
• Newer roof
• New dishwasher

Tags

• NEWER ROOF
• NEW DISHWASHER
• NEW STOVE
• NEW MICROWAVE
• ASSIGNED PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $315k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (10.4% below list).
• Recommended offer: $282k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.7% in Auburn — 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 80/100 on livability (#6 in AL, #1,842 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, health & safety A+; Watch: commute F.
• Auburn City (urban): math 51% / reading 69% proficiency, ranked #7 of 129 in AL (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ogletree Elementary School (math 62% / reading 74%, grade B+, #33 of 627 statewide, top 5%, 511 students, 25% FRL); Drake Middle School (math 44% / reading 69%, grade B, #16 of 257 statewide, top 6%, 711 students, 31% FRL); Auburn High School (math 54% / reading 50%, grade D+, #11 of 305 statewide, top 4%, 2,143 students, 27% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents rising fast (+6.2%/yr); 368 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).
• At $2,823/mo this rent would consume 79% of the median local household income ($43k/yr) (locally 2503% 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 $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 15 days — a 2% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $178k; list at $315k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 73% 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 $282,296 (10.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.85%
• DSCR: 0.92
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.18% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.43×
• Total profit: $-50,211
• Equity at exit: $46,968

10-year hold

• IRR: -1.9%
• Equity multiple: 0.85×
• Total profit: $-13,384
• Equity at exit: $27,235

Cash invested: $88,200 (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 36832

• Home prices YoY: -23.3%
• Rents YoY: 6.2%
• Active inventory: 368
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,823 medium
• Mortgage (P&I): −$1,652
• Tax est. 1.5%: −$394 /mo · $4,725/yr
• Insurance: −$131
• HOA: −$189
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $-136

Break-even live

Break-even rent $2,995

Max offer price $295,356

Occupancy floor 100%

Sensitivity live

Price	-10% $82	-5% $-27	+0% $-136	+5% $-245	+10% $-353
Rent	-10% $-359	-5% $-247	+0% $-136	+5% $-24	+10% $87
Rate	-1.0pp $23	-0.5pp $-56	base $-136	+0.5pp $-217	+1.0pp $-300

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
652 Haley Ln Apt 1301 Auburn, AL	5.0	5.5	2100	$4,175	$1.99	15d	1	0.59mi
1007 Stonegate Dr Auburn, AL	3.0	2.0	1440	$1,900	$1.32	45d	1	0.93mi
1958 Sara St Auburn, AL	3.0	2.0	1244	$1,400	$1.13	15d	1	1.14mi

HOA detail condo

• Monthly dues: $189 · $2,268/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-03-18
   status Pending
2. 2026-03-03
   listed $315,000 Active
3. 2020-07-06
   soldstatus $178,500 332-char remark

   Show marketing remark (332 chars)

   Great location in Eagles Landing! Turn right at the stop sign and the property is in the cul-de-sac. 4 bedroom, 4 bath with large living and open kitchen. One tenant will remain until July 31st, 2020 rented at $400 per month. All other tenants will be out at the end of May. New stove and new HVAC in 2019. 48 hour notice to show. .

4. 2020-05-13
   listed $175,000 332-char remark

   Show marketing remark (332 chars)

   Great location in Eagles Landing! Turn right at the stop sign and the property is in the cul-de-sac. 4 bedroom, 4 bath with large living and open kitchen. One tenant will remain until July 31st, 2020 rented at $400 per month. All other tenants will be out at the end of May. New stove and new HVAC in 2019. 48 hour notice to show. .

ⓘ 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 6/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,876
• − Mortgage interest: −$17,645
• − Property taxes: −$4,725
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,710
• − Management: −$2,710
• − HOA: −$2,268
• − Depreciation: −$9,164
• Taxable loss: −$6,921
• Est. tax savings @ 24.0%: +$1,661
• After-tax cash flow: $32/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: Auburn City
• NCES district ID: 0100210
• Math proficiency: 51% ▼ -21.00%
• Reading proficiency: 69% ▲ 5.00%
• Median HH income: $38,126
• Composite: 49.87/100
• National rank: #1944
• State rank: #7 of 129 in AL

Livability — Auburn

• Score: 80/100
• State rank: #6
• US rank: #1842

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, AL
• County: Lee County · 144,175 people
• City population: 80,251
• Metro: Auburn-Opelika, AL
• Population (ZIP): 30,959
• Household income: $42,717
• Rent vs Own: 49.4% rent · 50.6% own
• Severe rent burden: 2503.0

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 59% Black 26% Asian 6% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Slovak 2% Serbian 1%
• Foreign-born: 8% · South Korea, Canada, China
• Languages at home: 89% English-only · Spanish 4% Korean 2% 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: ▼ -75.65%
• Current HPI: 248.9059
• Rent YoY: ▲ 6.18%
• 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

+80.0% since first listed

4 events — show timeline

• 2026-03-18 Pending — GCMLS AL
• 2026-03-03 Listed $315,000 GCMLS AL
• 2020-07-06 Sold (MLS) $178,500 LMMLS
• 2020-05-13 Listed $175,000 LMMLS