4477 Lee Road 137 · Auburn, AL 36832

$38,000

None bd · None ba · — sqft · MultiFamily · 9 Days on market

Built 2000

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

1996 WAYC Mobile Home Freshly Updated 3BR/2BA & acirc; & euro; & ldquo; Minutes from Auburn University! Located in the quiet Arrowhead Park on Wire Road, this home is perfectly situated for students and professionals alike. Enjoy quick access to the Vet School, downtown Auburn, and local shopping. Key Features: Move-In Ready: Freshly updated interior with a clean, modern feel. Fully Equipped: All appliances are included. Outdoor Living: Large, covered porch perfect for morning coffee or relaxing. Bonus Storage: Includes a 12x12 exterior building & acirc; & euro; & rdquo; ideal for bikes, gear, or extra furniture. Prime Location: Just minutes from the AU Vet Scho

Key facts

• Large covered porch
• Bonus storage
• Prime location

Tags

• FRESHLY UPDATED INTERIOR
• FULLY EQUIPPED APPLIANCES
• LARGE COVERED PORCH
• BONUS STORAGE
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a multifamily listed at $38k.

Deal economics

• At list price, monthly cash flow is $8k ($91k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $38k).
• Cap rate 245.8% 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.
• Lee County (rural): math 23% / reading 47% proficiency, ranked #40 of 129 in AL (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.2%/yr); 359 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,858 units permitted in Lee County in 2024 (113 in 5+ unit buildings).
• At $9,932/mo this rent would consume 279% 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 $263 of loan paydown is wiped out by about $1k 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 + 6.2% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $38,000

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. 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?
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 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: 26.14% ✓
• Cap rate: 245.78%
• Cash-on-cash: 855.30%
• DSCR: 39.06
• GRM: 0.3

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: —
• Equity multiple: 48.91×
• Total profit: $509,790
• Equity at exit: $5,666

10-year hold

• IRR: —
• Equity multiple: 114.73×
• Total profit: $1,210,120
• Equity at exit: $3,286

Cash invested: $10,640 (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: 359
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $9,932 medium
• Mortgage (P&I): −$199
• Tax est. 1.5%: −$48 /mo · $570/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,086
• Net cashflow: $7,584

Break-even live

Break-even rent $332

Max offer price $38,000

Occupancy floor 19%

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	2	$9,930
Total (5 units)			$9,932

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: $9,500
• Closing costs: $1,140
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3180 Lee Road 137 Unit 137 Auburn, AL	2.0	2.5	—	$1,900	—	13d	1	1.37mi

Listing history 8 events

1. 2026-06-18
   days on market $38,000 Active 9 DOM
2. 2026-06-17
   days on market $38,000 Active 8 DOM
3. 2026-06-16
   days on market $38,000 Active 7 DOM
4. 2026-06-15
   days on market $38,000 Active 6 DOM
5. 2026-06-14
   days on market $38,000 Active 4 DOM
6. 2026-06-13
   days on market $38,000 Active 3 DOM
7. 2026-06-10
   remarks 675-char remark
8. 2026-06-10
   listed $38,000 Active 1 DOM

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $119,184
• − Mortgage interest: −$2,129
• − Property taxes: −$570
• − Insurance: −$190
• − Repairs & maintenance: −$9,535
• − Management: −$9,535
• − Depreciation: −$1,105
• Taxable income: $96,121
• Est. tax owed @ 24.0%: −$23,069
• After-tax cash flow: $67,935/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: Lee County
• NCES district ID: 0102070
• Math proficiency: 23% ▼ -27.00%
• Reading proficiency: 47% ▬ 0.00%
• Median HH income: $47,786
• Composite: 30.04/100
• National rank: #6355
• State rank: #40 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

• 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

-97.6% since first listed

2 events — show timeline

• 2026-06-10 Listed $38,000 FSBO.com
• 2022-10-04 Sold (Public Records) $1,600,177 Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,986 · +0.0% YoY. Source: county tax records.