303 N Lafayette St · Mobile, AL 36603

$129,000

4 bd · 1.5 ba · 2,297 sqft · SingleFamily public records · 29 Days on market

Built 1985 6,098 sqft lot $56/sqft · at area comps Est $136k · at est.

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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 +9.7/15.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

303 Lafayette Street North – A Perfect Blend of Charm & Convenience! Whether you're searching for your next home or a valuable addition to your rental portfolio, this one is worth a closer look! Conveniently located near downtown Mobile, you'll love being close to all the action—especially during Mardi Gras season! This spacious home features 4 large bedrooms and 2 full bathrooms, offering plenty of room for family, guests, or tenants. With four fireplaces, there's always a cozy corner to relax with a good book and a warm cup of coffee. The generously sized kitchen provides ample counter space—excellent for meal prep, entertaining, or hosting family gatherings. May b

Key facts

• Ample counter space
• Four fireplaces
• 6,098 sq ft lot

Tags

• FOUR FIREPLACES
• GENEROUSLY SIZED KITCHEN
• AMPLE COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $129k).
• Recommended offer: $127k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.0% 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: 36 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% 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).

Forward outlook

• In year one you build about $3k of equity ($892 loan paydown + $2k appreciation (1.3% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $91k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $129k implies a 163% gain — meaningful room to come down on a strong offer.

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 $127,065 (1.5% below list)

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 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?
3. 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?
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 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: 2.11% ✓
• Cap rate: 19.02%
• Cash-on-cash: 45.46%
• DSCR: 3.02
• GRM: 4.0

CMA / ARV

• ARV (median comp): $135,611
• List price: $129,000
• Delta: -4.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Lafayette St N	0.02mi	4/2.0	2,281 (-1%)	19mo	$52,000	$23	80
217 N Lafayette St	0.12mi	3/2.0 (-1)	2,099 (-9%)	13mo	$35,000	$17	62
116 Lafayette St N	0.46mi	4/2.0	2,336 (+2%)	15mo	$205,000	$88	61
12 LeMoyne Pl	0.69mi	4/3.0	2,419 (+5%)	4mo	$394,900	$163	50
114 Ann St N	0.59mi	3/2.5 (-1)	2,310 (+1%)	19mo	$292,900	$127	47
56 Reed Ave N	0.75mi	4/2.0	2,443 (+6%)	11mo	$408,000	$167	44
15 Georgia Ave N	0.75mi	3/2.0 (-1)	1,996 (-13%)	5mo	$179,000	$90	32
121 Julia St N	0.45mi	3/3.0 (-1)	2,016 (-12%)	24mo	$219,500	$109	28
111 Michael Donald Ave	0.67mi	3/2.0 (-1)	2,088 (-9%)	22mo	$82,500	$40	28
102 Gilbert St	0.69mi	3/2.0 (-1)	2,051 (-11%)	20mo	$425,000	$207	27
1805 Indian Creek Dr N	0.73mi	5/3.0 (+1)	2,585 (+12%)	9mo	$225,000	$87	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 48.5%
• Equity multiple: 3.54×
• Total profit: $91,580
• Equity at exit: $46,210

10-year hold

• IRR: 49.9%
• Equity multiple: 7.05×
• Total profit: $218,631
• Equity at exit: $63,124

Cash invested: $36,120 (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 36603

• Home prices YoY: 2.8%
• Active inventory: 36
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,719 high
• Mortgage (P&I): −$676
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $1,368

Break-even live

Break-even rent $987

Max offer price $129,000

Occupancy floor 45%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Michael Donald Ave Unit 1043461P Mobile, AL	4.0	3.5	2195	$3,962	$1.81	13d	1	0.67mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	43d	1	0.99mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	43d	1	1.07mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,450	$1.94	43d	1	1.10mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	13d	1	1.21mi
2007 Allison St Unit 1 Mobile, AL	3.0	2.0	1805	$1,575	$0.87	43d	1	1.39mi
1754 Hunter Ave Unit 1043550P Mobile, AL	4.0	2.0	2723	$3,903	$1.43	21d	1	1.45mi

Listing history 41 events

1. 2026-06-18
   days on market $129,000 Active 29 DOM
2. 2026-06-17
   days on market $129,000 Active 28 DOM
3. 2026-06-16
   days on market $129,000 Active 27 DOM
4. 2026-06-15
   days on market $129,000 Active 26 DOM
5. 2026-06-14
   days on market $129,000 Active 24 DOM
6. 2026-06-13
   days on market $129,000 Active 23 DOM
7. 2026-06-10
   days on market $129,000 Active 21 DOM
8. 2026-06-09
   days on market $129,000 Active 20 DOM
9. 2026-06-08
   days on market $129,000 Active 19 DOM
10. 2026-06-07
    days on market $129,000 Active 18 DOM
11. 2026-06-05
    days on market $129,000 Active 15 DOM
12. 2026-06-03
    days on market $129,000 Active 14 DOM
13. 2026-06-02
    days on market $129,000 Active 13 DOM
14. 2026-06-01
    days on market $129,000 Active 12 DOM
15. 2026-05-31
    days on market $129,000 Active 11 DOM
16. 2026-05-30
    days on market $129,000 Active 10 DOM
17. 2026-05-01
    price $129,000
18. 2026-04-07
    price $139,000
19. 2026-03-06
    price $149,000
20. 2026-02-03
    price $159,000
21. 2026-01-07
    price $169,900
22. 2025-11-25
    price $179,000
23. 2025-09-25
    price $189,000
24. 2024-03-04
    price $179,000
25. 2024-02-06
    price $185,000
26. 2024-02-06
    price $185,000
27. 2024-01-26
    listed $219,900 Active
28. 2023-09-22
    status Pending
29. 2023-09-02
    price $219,000
30. 2023-09-01
    price $219,000
31. 2023-08-16
    price $610,000
32. 2023-08-16
    price $610,000
33. 2023-07-31
    price $665,000
34. 2023-07-31
    price $665,000
35. 2023-07-24
    price $685,999
36. 2023-07-24
    price $685,999
37. 2023-07-16
    price $701,700
38. 2023-07-14
    listed $710,700 Active
39. 2023-05-12
    listed $250,000 Active
40. 2022-06-03
    soldstatus $49,000
41. 2022-01-12
    soldstatus $25,000

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $596 · $50/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 ≥104°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: $32,632
• − Mortgage interest: −$7,226
• − Property taxes: −$596
• − Insurance: −$645
• − Repairs & maintenance: −$2,611
• − Management: −$2,611
• − Depreciation: −$3,753
• Taxable income: $15,192
• Est. tax owed @ 24.0%: −$3,646
• After-tax cash flow: $12,775/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
• City population: 205,729
• Population (ZIP): 7,805

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: Predominantly Black (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▲ 1.32%
• Current HPI: 48.9551
• 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

+416.0% since first listed

25 events — show timeline

• 2026-05-01 Price Changed $129,000 GCMLS AL
• 2026-04-07 Price Changed $139,000 GCMLS AL
• 2026-03-06 Price Changed $149,000 GCMLS AL
• 2026-02-03 Price Changed $159,000 GCMLS AL
• 2026-01-07 Price Changed $169,900 GCMLS AL
• 2025-11-25 Price Changed $179,000 GCMLS AL
• 2025-09-25 Price Changed $189,000 GCMLS AL
• 2024-03-04 Price Changed $179,000 GCMLS AL
• 2024-02-06 Price Changed $185,000 GCMLS AL
• 2024-02-06 Price Changed $185,000 BCAR
• 2024-01-26 Listed $219,900 BCAR
• 2023-09-22 Pending — BCAR
• 2023-09-02 Price Changed $219,000 GCMLS AL
• 2023-09-01 Price Changed $219,000 BCAR
• 2023-08-16 Price Changed $610,000 GCMLS AL
• 2023-08-16 Price Changed $610,000 BCAR
• 2023-07-31 Price Changed $665,000 GCMLS AL
• 2023-07-31 Price Changed $665,000 BCAR
• 2023-07-24 Price Changed $685,999 GCMLS AL
• 2023-07-24 Price Changed $685,999 BCAR
• 2023-07-16 Price Changed $701,700 BCAR
• 2023-07-14 Listed $710,700 BCAR
• 2023-05-12 Listed $250,000 BCAR
• 2022-06-03 Sold (MLS) $49,000 GCMLS AL
• 2022-01-12 Sold (MLS) $25,000 GCMLS AL

Property tax history

+7.3%/yr

Latest (2025): $596 · +8.8% YoY. Source: county tax records.