318 Morgan Ave · Mobile, AL 36606

$80,000

2 bd · 1.0 ba · 1,258 sqft · SingleFamily public records · 147 Days on market

Built 2006 6,532 sqft lot $64/sqft · 53% below area ↓ 41% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PLEASE SUBMIT ALL CASH AS-IS OFFERS. Buyer and Buyer's Agent to verify all measurements and information during due diligence. Home is sold AS-IS. Contact agent to gain access.

Key facts

• 6,532 sq ft lot
• Garage
• Built 2006

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% vs local median 4.9% in Mobile — 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 75/100 on livability (#20 in AL, #4,262 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D-, crime F, employment D-.
• Mobile County (urban): math 15% / reading 39% proficiency, ranked #81 of 129 in AL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.1%/yr); 174 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 32% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 147 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 13.49%
• Cash-on-cash: 25.71%
• DSCR: 2.14
• GRM: 4.9

CMA / ARV

• ARV (median comp): $170,174
• List price: $80,000
• Delta: -52.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
258 W Mount Island Dr	0.17mi	2/1.0	1,350 (+7%)	2mo	$263,500	$195	78
616 Morgan Ave	0.29mi	3/2.0 (+1)	1,150 (-9%)	3mo	$42,000	$37	61
2258 Howell Ave	0.72mi	3/1.0 (+1)	1,264 (+0%)	2mo	$145,000	$115	59
1813 Woodcock St	0.65mi	3/2.0 (+1)	1,269 (+1%)	1mo	$195,000	$154	58
503 Dauphin Island Pkwy	0.58mi	2/1.0	1,159 (-8%)	3mo	$40,500	$35	58
53 Mohawk St	0.71mi	2/1.0	1,207 (-4%)	4mo	$235,000	$195	57
710 Euclid Ave	0.64mi	3/2.0 (+1)	1,222 (-3%)	4mo	$139,000	$114	53
2756 Jennings Dr	0.69mi	3/2.0 (+1)	1,300 (+3%)	0mo	$215,000	$165	53
1833 Woodcock Pl	0.65mi	3/2.0 (+1)	1,317 (+5%)	1mo	$195,000	$148	52
1841 Woodcock Pl	0.65mi	3/2.0 (+1)	1,327 (+6%)	0mo	$195,000	$147	51
165 S Fulton St	0.56mi	2/1.0	1,085 (-14%)	1mo	$261,000	$241	50
603 Glenwood St	0.50mi	3/1.0 (+1)	1,400 (+11%)	4mo	$137,000	$98	50

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 21.8%
• Equity multiple: 1.92×
• Total profit: $20,507
• Equity at exit: $11,928

10-year hold

• IRR: 31.2%
• Equity multiple: 4.11×
• Total profit: $69,641
• Equity at exit: $6,917

Cash invested: $22,400 (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 36606

• Rents YoY: 5.1%
• Active inventory: 174
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,353 high
• Mortgage (P&I): −$420
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $480

Break-even live

Break-even rent $746

Max offer price $80,000

Occupancy floor 60%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	43d	1	0.38mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	43d	1	0.41mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	13d	1	0.41mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	43d	1	0.44mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$949	$1.22	13d	9	0.46mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	13d	1	0.47mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,750	$1.39	21d	1	0.50mi
200 S Florida St Unit 101 Mobile, AL	2.0	2.0	1150	$1,375	$1.20	21d	1	0.51mi
182 Williams St Unit 1043570P Mobile, AL	3.0	1.0	1399	$2,476	$1.77	13d	1	0.54mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	21d	1	0.59mi
418 Durande Dr Mobile, AL	3.0	2.0	1456	$1,350	$0.93	13d	1	0.60mi
713 Iris Ave Mobile, AL	3.0	1.0	1617	$1,300	$0.80	21d	1	0.62mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	43d	1	0.66mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	43d	1	0.83mi
315 Hadrian St Mobile, AL	3.0	2.0	1843	$1,800	$0.98	43d	1	0.85mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	0.86mi
168 W Collins St Mobile, AL	3.0	1.0	968	$725	$0.75	21d	1	0.88mi
817 Hawkins St Mobile, AL	3.0	1.0	1217	$1,200	$0.99	43d	1	0.89mi
461 Magnolia Rd Unit A Mobile, AL	2.0	1.0	989	$825	$0.83	43d	1	0.90mi
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	43d	1	0.93mi
2859 Brierwood Dr Mobile, AL	3.0	1.0	1057	$1,500	$1.42	13d	1	0.95mi
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	43d	1	0.95mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	21d	1	1.00mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	43d	2	1.00mi
150 Dunn Ave Mobile, AL	3.0	2.0	1455	$1,250	$0.86	21d	1	1.01mi
2855 Potter Dr Mobile, AL	2.0	1.0	1127	$1,050	$0.93	43d	1	1.01mi
2861 Ralston Rd Mobile, AL	3.0	2.0	1617	$1,650	$1.02	43d	1	1.01mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	21d	1	1.04mi
2861 Potter Dr Unit 1043844P Mobile, AL	3.0	2.0	1496	$2,492	$1.67	21d	1	1.05mi
2500 Dauphinwood Dr Mobile, AL	2.0–3.0	1.0–2.0	1250	$980	$0.78	13d	19	1.06mi
955 Cloverdale Dr Mobile, AL	3.0	1.5	1128	$1,125	$1.00	43d	1	1.15mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	13d	1	1.16mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	43d	1	1.23mi
505 Bel Air Blvd Mobile, AL	1.0–2.0	1.0–2.0	976	$1,274	$1.30	13d	16	1.32mi
751 Farnell Ln Mobile, AL	2.0	1.0	1100	$1,400	$1.27	43d	1	1.32mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	43d	1	1.34mi
3060 Emogene St Mobile, AL	3.0	1.0	1200	$1,400	$1.17	13d	1	1.36mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	43d	1	1.38mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,062	$1.63	43d	1	1.40mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	43d	1	1.47mi

Listing history 15 events

1. 2026-06-03
   status $80,000 Pending 147 DOM
2. 2026-06-02
   days on market $80,000 Active 147 DOM
3. 2026-06-01
   days on market $80,000 Active 146 DOM
4. 2026-05-31
   days on market $80,000 Active 145 DOM
5. 2026-05-30
   days on market $80,000 Active 144 DOM
6. 2026-05-13
   price $80,000 176-char remark

   Show marketing remark (176 chars)

   PLEASE SUBMIT ALL CASH AS-IS OFFERS. Buyer and Buyer's Agent to verify all measurements and information during due diligence. Home is sold AS-IS. Contact agent to gain access.

7. 2026-05-01
   price $80,000 695-char remark

   Show marketing remark (695 chars)

   Great Mid Mobile Location. 2 bedroom / 2 bathroom cottage located in the heart of Mobile, 318 Morgan Avenue offers a compelling opportunity for investors and renovators seeking value and upside. This property has strong potential for rental income, resale, or redevelopment. The lot and entire property is gorgeous. Sold strictly as-is, it provides a clean slate for a buyer ready to bring vision, tools, and capital to unlock its next chapter. A rare opportunity. Please submit all cash, AS-IS offers. Buyer and Buyer's Agent to verify all measurements and information during due diligence. Home is sold AS-IS. Contact agent to gain access. Buyer to verify all information during due diligence.

8. 2026-01-10
   listed $90,000 Active 176-char remark

   Show marketing remark (176 chars)

   PLEASE SUBMIT ALL CASH AS-IS OFFERS. Buyer and Buyer's Agent to verify all measurements and information during due diligence. Home is sold AS-IS. Contact agent to gain access.

9. 2026-01-06
   listed $90,000 Active 695-char remark

   Show marketing remark (695 chars)

   Great Mid Mobile Location. 2 bedroom / 2 bathroom cottage located in the heart of Mobile, 318 Morgan Avenue offers a compelling opportunity for investors and renovators seeking value and upside. This property has strong potential for rental income, resale, or redevelopment. The lot and entire property is gorgeous. Sold strictly as-is, it provides a clean slate for a buyer ready to bring vision, tools, and capital to unlock its next chapter. A rare opportunity. Please submit all cash, AS-IS offers. Buyer and Buyer's Agent to verify all measurements and information during due diligence. Home is sold AS-IS. Contact agent to gain access. Buyer to verify all information during due diligence.

10. 2025-01-23
    listed $199,000 Active
11. 2024-10-04
    price $199,000
12. 2023-11-18
    historical $1,800
13. 2023-11-10
    listed $1,800
14. 2022-07-21
    soldstatus $173,100
15. 2021-11-02
    soldstatus $135,000

ⓘ 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: $1,637 · $136/mo
• Projected year-2 tax: $1,637 · $136/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 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $16,241
• − Mortgage interest: −$4,481
• − Property taxes: −$1,637
• − Insurance: −$400
• − Repairs & maintenance: −$1,299
• − Management: −$1,299
• − Depreciation: −$2,327
• Taxable income: $4,797
• Est. tax owed @ 24.0%: −$1,151
• After-tax cash flow: $4,608/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: Mobile County
• NCES district ID: 0102370
• Math proficiency: 15% ▼ -28.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $42,455
• Composite: 22.9/100
• National rank: #8002
• State rank: #81 of 129 in AL

Livability — Mobile

• Score: 75/100
• State rank: #20
• US rank: #4262

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mobile, AL
• County: Mobile County · 246,577 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

Population outlook (Mobile County) Hauer SSP2

• Today (2025): 415,303 people
• By 2030: 411,755 · -0.9%
• By 2040: 399,670 · -3.8%
• By 2050: 382,616 · -7.9%
• By 2075: 337,353 · -18.8%
• By 2100: 283,391 · -31.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Mobile

• 2024 margin: R (+16.4) · D 41.3% · R 57.7%
• 2008→2024 swing: -7.7pp toward R · 2008: -8.7pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+11.9 2016: R+13.9 2012: R+9.3 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• Metro: Mobile, 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

-40.7% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $80,000 GCMLS AL
• 2026-05-01 Price Changed $80,000 BCAR
• 2026-01-10 Listed $90,000 GCMLS AL
• 2026-01-06 Listed $90,000 BCAR
• 2025-01-23 Listed $199,000 BCAR
• 2024-10-04 Price Changed $199,000 GCMLS AL
• 2023-11-18 Rental Removed $1,800 BUILDIUM
• 2023-11-10 Listed for Rent $1,800 BUILDIUM
• 2022-07-21 Sold (Public Records) $173,100 Public Records
• 2021-11-02 Sold (MLS) $135,000 GCMLS AL

Property tax history

+8.7%/yr

Latest (2025): $1,637 · +2.5% YoY. Source: county tax records.