1032 E Glenn Ave · Auburn, AL 36830

$299,000

6 bd · 1.0 ba · 1,498 sqft · MultiFamily public records · 59 Days on market

Built 1948 0.36 ac lot

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Why this score? — see what drove the B- 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 +29.2/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Welcome to 1032/1034 E Glenn Avenue—an inviting duplex situated on a corner lot in one of Auburn’s most convenient in-town locations. Nestled just steps from ongoing new construction in the neighborhood, this property offers strong long-term potential for investors or those considering redevelopment down the road. Zoning currently permits up to two unrelated occupants per side and does not allow for short-term rentals, but the existing floor plans—a 2 bed/1 bath on one side and a 1 bed/1 bath on the other—leave room for creative reconfiguration. With strategic updates, both units could be redesigned to include two bedrooms, opening the door for increased rental value

Key facts

• Duplex opportunities
• Existing floor plans
• Corner lot

Tags

• CORNER LOT
• EXISTING FLOOR PLANS
• CREATIVE RECONFIGURATION
• INCREASED RENTAL VALUE
• DUPLEX OPPORTUNITIES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $299k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $520/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $299k).
• Recommended offer: $290k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Wrights Mill Road Elementary School (math 65% / reading 75%, grade A-, #26 of 627 statewide, top 4%, 397 students, 33% FRL).
• Market conditions: Rents rising fast (+5.4%/yr); 899 active listings in the ZIP; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 5.4% rent growth), your $84k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($290k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $26k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $1k; list at $299k implies a 29800% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $290,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.22% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.92%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.36% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.32×
• Total profit: $26,567
• Equity at exit: $44,582

10-year hold

• IRR: 19.0%
• Equity multiple: 2.75×
• Total profit: $146,146
• Equity at exit: $25,852

Cash invested: $83,720 (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 36830

• Rents YoY: 5.4%
• Active inventory: 899
• Price-to-rent: 13.7×

Monthly cashflow live

• Estimated rent: $3,634 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$138 /mo · $1,652/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$763
• Net cashflow: $1,041

Break-even live

Break-even rent $2,317

Max offer price $299,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,210	-5% $1,125	+0% $1,041	+5% $956	+10% $871
Rent	-10% $754	-5% $897	+0% $1,041	+5% $1,184	+10% $1,328
Rate	-1.0pp $1,191	-0.5pp $1,117	base $1,041	+0.5pp $963	+1.0pp $884

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$3,634
Total (2 units)			$3,634

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-03-09
   status Pending
2. 2026-03-03
   status Active
3. 2026-03-03
   price $299,000
4. 2026-01-23
   status Pending
5. 2025-12-01
   listed $325,000 Active
6. 2024-11-28
   historical $750
7. 2024-10-24
   listed $750
8. 2022-02-19
   price $660
9. 2009-11-11
   soldstatus $1,000

ⓘ 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: $1,652 · $138/mo
• Projected year-2 tax: $1,652 · $138/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% 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: $43,608
• − Mortgage interest: −$16,749
• − Property taxes: −$1,652
• − Insurance: −$1,495
• − Repairs & maintenance: −$3,489
• − Management: −$3,489
• − Depreciation: −$8,698
• Taxable income: $8,036
• Est. tax owed @ 24.0%: −$1,929
• After-tax cash flow: $10,558/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): 49,292
• Household income: $70,188
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 2961.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 14% Asian 10% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 11% · South Korea, Canada, China
• Languages at home: 87% English-only · Korean 4% Spanish 3% Chinese 2%

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: ▼ -156.53%
• Current HPI: 270.6646
• Rent YoY: ▲ 5.36%
• 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

+29800.0% since first listed

9 events — show timeline

• 2026-03-09 Pending — LCMLS
• 2026-03-03 Relisted — LCMLS
• 2026-03-03 Price Changed $299,000 LCMLS
• 2026-01-23 Pending — LCMLS
• 2025-12-01 Listed $325,000 LCMLS
• 2024-11-28 Rental Removed $750 APPFOLIO
• 2024-10-24 Listed for Rent $750 APPFOLIO
• 2022-02-19 Price Changed $660 RENT.
• 2009-11-11 Sold (Public Records) $1,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,652 · +0.0% YoY. Source: county tax records.