Macon County presents a price-versus-underwriting tension: the Zillow county series for 2026-06 places the median home value at $187,471, up 6.27% year over year, while income and transaction evidence do not establish property cash flow. FHFA’s 2025 repeat-transaction HPI rose 5.75% annually, which supports the direction of Zillow’s result but is neither a home value nor the same vintage or method. These series should not be averaged. Buyers requiring demonstrable income coverage should investigate rather than rely on appreciation evidence.
Market rent is not published; therefore gross yield cannot be computed. HUD’s two-bedroom FMR of $936 per month is a payment standard, not an estimate of asking rent, and cannot fill the gap. The supplied effective property-tax rate is 0.69%, a carrying-cost input rather than proof of a given parcel’s tax or affordability. Deal underwriting still needs lease comparables, utilities, repairs, insurance, and financing terms.
Realtor.com’s MLS listing market in 2026-06 had 53 active listings, up 101.92% year over year, while 12.73% carried price reductions. That is visible asking-market supply and seller-concession evidence, not closed-sale pricing or standalone proof of buyer demand. Net migration was 3 tax-return households, and inbound movers’ average AGI exceeded outbound movers’ by $4,435, a thin but higher-income inflow signal. Investor purchases represented 6.25% of 96 total purchases, limiting evidence of broad non-owner competition.
Inland flood is the dominant hazard, and modeled annual climate loss equals 0.14% of building value. That model is not a parcel-specific flood determination or an insurance quote, but it warrants property-level elevation, flood-zone, claims, and coverage review before assigning expenses. County evidence does not show actual market rent, executed leases, closed sales, parcel taxes, or insurance costs: absent rent blocks gross-yield analysis; absent parcel hazard and insurance evidence blocks a defensible carrying-cost and insurability conclusion; absent closed-sale evidence limits pricing-liquidity validation.