646 Mickle Dr · Roanoke, AL 36274

$115,000

4 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 176 Days on market

Built 1972 0.64 ac lot $81/sqft · at area comps Est $160k · 28% under ↓ 4% since listing

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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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

HANDI MAN SPECIAL!! Looking for an amazing home to renovate? Then don't miss out on the endless possibilities to bring this brick home back to life. This spacious brick ranch located in a quiet neighborhood with easy access to schools and shopping. Main level consists of 2 bedrooms and full bath, kitchen with ample counter-space and a dining room with access to back deck. Over-sized family room with wood-burning fireplace. The large sunroom above carport offers endless opportunities for gatherings, playroom, office, or an entertainment area with endless natural light. Partial basement with wood-burning fireplace in great room, 2 bedrooms, laundry room and a full bath is ready to be updated with flooring and paint along with some TLC to add to your potential living space, guest suite, or added value with renovations. A 2 car carport, storage building, large front and back yard area. Don't miss this opportunity to make this one your dream home. Schedule your appt today!

Key facts

• Large sunroom
• Partial basement
• Storage building

Tags

• BRICK HOME
• AMPLE COUNTER-SPACE
• WOOD-BURNING FIREPLACE
• LARGE SUNROOM
• PARTIAL BASEMENT
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $190 ($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 $112k (2.5% below list).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.8% in Roanoke — 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 56/100 on livability (#405 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Roanoke City (town): math 16% / reading 41% proficiency, ranked #78 of 129 in AL (top 60%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Knight Enloe Elementary School (math 37% / reading 52%, grade F, #171 of 627 statewide, top 31%, 487 students, 54% FRL); Handley Middle School (math 12% / reading 44%, grade F, #141 of 257 statewide, top 55%, 503 students, 71% FRL); Handley High School (math 12% / reading 22%, grade F, #195 of 305 statewide, top 68%, 457 students, 52% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 80 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Randolph County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 46% 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.97% ✗
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 8.5

CMA / ARV

• ARV (median comp): $159,895
• List price: $115,000
• Delta: -28.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 Heflin Ave	0.10mi	3/2.0 (-1)	1,596 (+13%)	6mo	$94,900	$59	60
719 Mickle St	0.09mi	3/1.0 (-1)	1,218 (-14%)	10mo	$168,000	$138	60
585 Strozier St	0.46mi	4/2.0	1,472 (+4%)	13mo	$150,000	$102	57
435 South St	0.34mi	3/2.0 (-1)	1,292 (-9%)	6mo	$150,000	$116	56
445 Gaston St	0.36mi	3/1.5 (-1)	1,333 (-6%)	19mo	$20,000	$15	51
860 Oakcrest Dr	0.61mi	3/1.0 (-1)	1,287 (-9%)	21mo	$60,000	$47	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,601
• Equity at exit: $17,147

10-year hold

• IRR: 4.1%
• Equity multiple: 1.30×
• Total profit: $9,627
• Equity at exit: $9,943

Cash invested: $32,200 (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 36274

• Home prices YoY: -7.9%
• Active inventory: 80
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,121 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$45 /mo · $541/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $190

Break-even live

Break-even rent $881

Max offer price $115,000

Occupancy floor 78%

Sensitivity live

Price	-10% $255	-5% $222	+0% $190	+5% $157	+10% $125
Rent	-10% $101	-5% $145	+0% $190	+5% $234	+10% $278
Rate	-1.0pp $248	-0.5pp $219	base $190	+0.5pp $160	+1.0pp $130

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $115,000 Active 176 DOM
2. 2026-06-19
   days on market $115,000 Active 174 DOM
3. 2026-06-18
   days on market $115,000 Active 173 DOM
4. 2026-06-17
   days on market $115,000 Active 172 DOM
5. 2026-06-16
   days on market $115,000 Active 171 DOM
6. 2026-06-15
   days on market $115,000 Active 170 DOM
7. 2026-06-14
   days on market $115,000 Active 168 DOM
8. 2026-06-12
   days on market $115,000 Active 167 DOM
9. 2026-06-09
   days on market $115,000 Active 164 DOM
10. 2026-06-08
    days on market $115,000 Active 163 DOM
11. 2026-06-07
    days on market $115,000 Active 162 DOM
12. 2026-06-05
    days on market $115,000 Active 160 DOM
13. 2026-06-04
    days on market $115,000 Active 158 DOM
14. 2026-06-02
    days on market $115,000 Active 157 DOM
15. 2026-06-01
    days on market $115,000 Active 156 DOM
16. 2026-05-31
    days on market $115,000 Active 155 DOM
17. 2026-05-31
    days on market $115,000 Active 154 DOM
18. 2026-03-31
    price $115,000 982-char remark

    Show marketing remark (982 chars)

    HANDI MAN SPECIAL!! Looking for an amazing home to renovate? Then don't miss out on the endless possibilities to bring this brick home back to life. This spacious brick ranch located in a quiet neighborhood with easy access to schools and shopping. Main level consists of 2 bedrooms and full bath, kitchen with ample counter-space and a dining room with access to back deck. Over-sized family room with wood-burning fireplace. The large sunroom above carport offers endless opportunities for gatherings, playroom, office, or an entertainment area with endless natural light. Partial basement with wood-burning fireplace in great room, 2 bedrooms, laundry room and a full bath is ready to be updated with flooring and paint along with some TLC to add to your potential living space, guest suite, or added value with renovations. A 2 car carport, storage building, large front and back yard area. Don't miss this opportunity to make this one your dream home. Schedule your appt today!

19. 2025-12-27
    listed $135,000 Active 982-char remark

    Show marketing remark (982 chars)

    HANDI MAN SPECIAL!! Looking for an amazing home to renovate? Then don't miss out on the endless possibilities to bring this brick home back to life. This spacious brick ranch located in a quiet neighborhood with easy access to schools and shopping. Main level consists of 2 bedrooms and full bath, kitchen with ample counter-space and a dining room with access to back deck. Over-sized family room with wood-burning fireplace. The large sunroom above carport offers endless opportunities for gatherings, playroom, office, or an entertainment area with endless natural light. Partial basement with wood-burning fireplace in great room, 2 bedrooms, laundry room and a full bath is ready to be updated with flooring and paint along with some TLC to add to your potential living space, guest suite, or added value with renovations. A 2 car carport, storage building, large front and back yard area. Don't miss this opportunity to make this one your dream home. Schedule your appt today!

20. 2025-09-05
    price $149,900
21. 2025-07-09
    price $154,900
22. 2024-08-06
    price $150,000
23. 2024-07-25
    price $170,000
24. 2024-06-30
    price $199,900
25. 2024-06-20
    price $220,000
26. 2016-06-03
    price $119,900

ⓘ 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: $541 · $45/mo
• Projected year-2 tax: $541 · $45/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 5/10 Major 7 d/yr ≥106°F today · 19 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,454
• − Mortgage interest: −$6,442
• − Property taxes: −$541
• − Insurance: −$575
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$3,345
• Taxable income: $398
• Est. tax owed @ 24.0%: −$96
• After-tax cash flow: $2,180/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: Roanoke City
• NCES district ID: 0102850
• Math proficiency: 16% ▼ -19.00%
• Reading proficiency: 41% ▲ 6.00%
• Median HH income: $34,287
• Composite: 23.36/100
• National rank: #7906
• State rank: #78 of 129 in AL

Livability — Roanoke

• Score: 56/100
• State rank: #405
• US rank: #22530

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

• Census place: Roanoke, AL
• Population (ZIP): 9,827

Population outlook (Randolph County) Hauer SSP2

• Today (2025): 22,095 people
• By 2030: 21,500 · -2.7%
• By 2040: 20,042 · -9.3%
• By 2050: 18,428 · -16.6%
• By 2075: 14,828 · -32.9%
• By 2100: 11,511 · -47.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 29% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Serbian 3% Italian 1% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Randolph

• 2024 margin: Solid R (+64.8) · D 17.3% · R 82.2%
• 2008→2024 swing: -25.3pp toward R · 2008: -39.6pp · 2024: -64.8pp
• All cycles: 2024: R+64.8 2020: R+58.6 2016: R+53.4 2012: R+39.9 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -16.15%
• Current HPI: 188.5223
• Rent YoY: —
• Metro: —
• 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

-4.1% since first listed

9 events — show timeline

• 2026-03-31 Price Changed $115,000 Greater Alabama MLS
• 2025-12-27 Listed $135,000 Greater Alabama MLS
• 2025-09-05 Price Changed $149,900 Greater Alabama MLS
• 2025-07-09 Price Changed $154,900 Greater Alabama MLS
• 2024-08-06 Price Changed $150,000 LCMLS
• 2024-07-25 Price Changed $170,000 LCMLS
• 2024-06-30 Price Changed $199,900 LCMLS
• 2024-06-20 Price Changed $220,000 LCMLS
• 2016-06-03 Price Changed $119,900 Greater Alabama MLS

Property tax history

+0.3%/yr

Latest (2024): $541 · +17.7% YoY. Source: county tax records.