6004 Nora Pl · Montgomery, AL 36117

$150,000

2 bd · 2.0 ba · 1,609 sqft · SingleFamily public records · 94 Days on market

Built 1983 3,920 sqft lot $93/sqft · 20% above area Est $125k · 20% over

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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 +19.5/30.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 2-bathroom home, offering a perfect blend of comfort and style. The spacious living area is bright and airy, ideal for both relaxation and entertaining. The modern kitchen features sleek appliances, ample counter space, and a cozy dining nook. The master suite includes a private bath, creating a serene retreat, while the second bedroom is versatile and perfect for guests, a home office, or a nursery. Enjoy the convenience of a second full bath and plenty of storage throughout. Outside, enjoy privacy and security with a gated entrance. With its ideal location, this home is perfect for anyone seeking both convenience and tranquility. Don't miss your chance to make this lovely property your own!

Key facts

• Garage
• Built 1983
• Listed 94 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $169 ($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 $146k (2.9% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 6.0% in Montgomery — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#138 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D, crime F.
• Montgomery County (urban): math 9% / reading 31% proficiency, ranked #106 of 129 in AL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 407 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Montgomery County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $91k; list at $150k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. 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?
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: 0.97% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.83%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $124,803
• List price: $150,000
• Delta: 20.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 Westminster Dr	0.11mi	3/2.0 (+1)	1,568 (-2%)	5mo	$181,000	$115	81
6118 Margo Pl	0.20mi	3/2.0 (+1)	1,643 (+2%)	3mo	$170,000	$103	80
1911 Woodrun Dr	0.34mi	3/2.0 (+1)	1,558 (-3%)	2mo	$130,000	$83	72
6013 Camelot Ct	0.13mi	3/2.0 (+1)	1,461 (-9%)	3mo	$194,600	$133	71
6217 John Dunn Ct W	0.30mi	3/2.0 (+1)	1,689 (+5%)	5mo	$207,000	$123	68
6218 Woody Ln	0.33mi	3/2.0 (+1)	1,499 (-7%)	1mo	$183,000	$122	68
6000 Vineyard Ln	0.28mi	2/2.0	1,409 (-12%)	6mo	$182,500	$130	61
6367 Willow Glen Ct	0.37mi	3/2.0 (+1)	1,497 (-7%)	7mo	$153,000	$102	60
6037 Vineyard Ln	0.27mi	2/2.0	1,394 (-13%)	7mo	$171,000	$123	59
6606 Rushton Rdg	0.74mi	3/2.0 (+1)	1,653 (+3%)	2mo	$218,000	$132	54
2209 Cherry Creek Ct	0.46mi	3/2.0 (+1)	1,809 (+12%)	4mo	$267,941	$148	50
1849 Woodmere Lp Loop	0.45mi	3/2.0 (+1)	1,823 (+13%)	3mo	$196,500	$108	49

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 · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -8.8%
• Equity multiple: 0.68×
• Total profit: $-13,569
• Equity at exit: $22,365

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $1,936
• Equity at exit: $12,969

Cash invested: $42,000 (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 36117

• Home prices YoY: -20.0%
• Rents YoY: 3.0%
• Active inventory: 407
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$787
• Tax from tax record: −$133 /mo · $1,591/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $169

Break-even live

Break-even rent $1,243

Max offer price $150,000

Occupancy floor 83%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1612 Woodmere Loop Montgomery, AL	3.0	1.5	1425	$1,775	$1.25	44d	1	0.06mi
1615 Woodmere Loop Montgomery, AL	3.0	2.0	1212	$1,250	$1.03	44d	1	0.08mi
6025 Oldcastle Pl Montgomery, AL	3.0	2.0	1350	$1,775	$1.31	44d	1	0.09mi
1610 Limestone Ct Montgomery, AL	3.0	2.5	1218	$1,300	$1.07	21d	1	0.12mi
2000 London Town Ln Montgomery, AL	1.0–3.0	1.0–2.0	950	$992	$1.04	14d	11	0.32mi
1944 Woodrun Dr Montgomery, AL	3.0	2.0	1689	$1,595	$0.94	14d	1	0.37mi
6225 Whitewater Ct Montgomery, AL	3.0	2.0	1581	$1,600	$1.01	21d	1	0.39mi
1421 Stonehenge Rd Montgomery, AL	1.0–3.0	1.0–1.5	895	$999	$1.12	44d	1	0.41mi
5600 Carmichael Rd Montgomery, AL	2.0	1.0–2.0	722	$1,153	$1.60	44d	1	0.55mi
2495 Meadow Ridge Ln Montgomery, AL	1.0–3.0	1.0–2.0	1205	$1,049	$0.87	14d	14	0.72mi
6037 Monticello Dr Montgomery, AL	1.0–2.0	1.0–2.0	974	$1,025	$1.05	14d	3	0.87mi
5701 E Shirley Ln Montgomery, AL	1.0–2.0	1.0	975	$850	$0.87	14d	7	1.14mi
2014 Rexford Rd Montgomery, AL	3.0	2.0	1596	$1,150	$0.72	44d	1	1.16mi
2000 Central Pkwy Montgomery, AL	1.0–3.0	1.0–2.0	1133	$1,665	$1.47	14d	14	1.22mi
7104 Fair Oaks Ct Montgomery, AL	3.0	2.0	1656	$1,881	$1.14	44d	1	1.24mi
2060 Rexford Rd Montgomery, AL	3.0	2.5	1566	$925	$0.59	21d	1	1.25mi
2066 Rexford Rd Montgomery, AL	3.0	2.5	1632	$1,250	$0.77	21d	1	1.26mi
3201 Watchman Dr Montgomery, AL	1.0–3.0	1.0–2.0	1054	$1,345	$1.28	14d	10	1.28mi
5720 Worchester Dr Montgomery, AL	2.0	2.0	1060	$895	$0.84	21d	1	1.30mi
7406 Mill Ridge Ct Montgomery, AL	3.0	2.0	1785	$2,250	$1.26	44d	1	1.30mi
500 Eastdale Rd S Montgomery, AL	1.0–3.0	1.0–2.5	1042	$772	$0.74	21d	20	1.33mi
455 Eastdale Rd S Montgomery, AL	1.0–2.0	1.0	950	$850	$0.89	14d	6	1.34mi
2140 Rexford Rd Montgomery, AL	2.0	2.5	1428	$1,275	$0.89	44d	1	1.39mi
5635 Red Barn Rd Unit 1043848P Montgomery, AL	3.0	2.0	1496	$3,390	$2.27	14d	1	1.42mi
4707 Mitford Cir Montgomery, AL	3.0	2.0	1943	$1,800	$0.93	44d	1	1.46mi
336 Davors Dr Montgomery, AL	3.0	2.0	1569	$2,200	$1.40	44d	1	1.46mi

Listing history 32 events

1. 2026-06-18
   days on market $150,000 Active 94 DOM
2. 2026-06-17
   days on market $150,000 Active 93 DOM
3. 2026-06-16
   days on market $150,000 Active 92 DOM
4. 2026-06-15
   days on market $150,000 Active 91 DOM
5. 2026-06-14
   days on market $150,000 Active 89 DOM
6. 2026-06-13
   days on market $150,000 Active 88 DOM
7. 2026-06-10
   days on market $150,000 Active 86 DOM
8. 2026-06-09
   days on market $150,000 Active 85 DOM
9. 2026-06-08
   days on market $150,000 Active 84 DOM
10. 2026-06-07
    days on market $150,000 Active 83 DOM
11. 2026-06-03
    days on market $150,000 Active 79 DOM
12. 2026-06-02
    days on market $150,000 Active 78 DOM
13. 2026-06-01
    days on market $150,000 Active 77 DOM
14. 2026-05-31
    days on market $150,000 Active 76 DOM
15. 2026-05-30
    days on market $150,000 Active 75 DOM
16. 2026-05-01
    price $150,000 737-char remark

    Show marketing remark (737 chars)

    Welcome to this charming 2-bedroom, 2-bathroom home, offering a perfect blend of comfort and style. The spacious living area is bright and airy, ideal for both relaxation and entertaining. The modern kitchen features sleek appliances, ample counter space, and a cozy dining nook. The master suite includes a private bath, creating a serene retreat, while the second bedroom is versatile and perfect for guests, a home office, or a nursery. Enjoy the convenience of a second full bath and plenty of storage throughout. Outside, enjoy privacy and security with a gated entrance. With its ideal location, this home is perfect for anyone seeking both convenience and tranquility. Don't miss your chance to make this lovely property your own!

17. 2026-03-17
    listed $155,000 Active 737-char remark

    Show marketing remark (737 chars)

    Welcome to this charming 2-bedroom, 2-bathroom home, offering a perfect blend of comfort and style. The spacious living area is bright and airy, ideal for both relaxation and entertaining. The modern kitchen features sleek appliances, ample counter space, and a cozy dining nook. The master suite includes a private bath, creating a serene retreat, while the second bedroom is versatile and perfect for guests, a home office, or a nursery. Enjoy the convenience of a second full bath and plenty of storage throughout. Outside, enjoy privacy and security with a gated entrance. With its ideal location, this home is perfect for anyone seeking both convenience and tranquility. Don't miss your chance to make this lovely property your own!

18. 2026-03-14
    historical $155,000 737-char remark

    Show marketing remark (737 chars)

    Welcome to this charming 2-bedroom, 2-bathroom home, offering a perfect blend of comfort and style. The spacious living area is bright and airy, ideal for both relaxation and entertaining. The modern kitchen features sleek appliances, ample counter space, and a cozy dining nook. The master suite includes a private bath, creating a serene retreat, while the second bedroom is versatile and perfect for guests, a home office, or a nursery. Enjoy the convenience of a second full bath and plenty of storage throughout. Outside, enjoy privacy and security with a gated entrance. With its ideal location, this home is perfect for anyone seeking both convenience and tranquility. Don't miss your chance to make this lovely property your own!

19. 2025-05-20
    status Active
20. 2025-05-14
    historical Active Under Contract
21. 2025-04-05
    price $150,000
22. 2025-03-26
    price $165,000
23. 2025-03-03
    listed $170,000 Active
24. 2025-03-03
    historical
25. 2020-11-03
    soldstatus $91,000
26. 2015-11-06
    listed $84,900
27. 2013-05-02
    soldstatus $55,000
28. 2012-11-20
    listed $55,000
29. 2008-02-29
    soldstatus $116,000
30. 2007-09-06
    listed $119,900
31. 2002-09-12
    soldstatus $89,500
32. 2002-01-14
    listed $97,500

ⓘ 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: $1,591 · $133/mo
• Projected year-2 tax: $1,591 · $133/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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,479
• − Mortgage interest: −$8,402
• − Property taxes: −$1,591
• − Insurance: −$750
• − Repairs & maintenance: −$1,398
• − Management: −$1,398
• − Depreciation: −$4,364
• Taxable loss: −$425
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $2,130/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: Montgomery County
• NCES district ID: 0102430
• Math proficiency: 9% ▼ -21.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $43,902
• Composite: 17.24/100
• National rank: #9093
• State rank: #106 of 129 in AL

Livability — Montgomery

• Score: 65/100
• State rank: #138
• US rank: #13416

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montgomery, AL
• County: Montgomery County · 190,016 people
• City population: 175,913
• Metro: Montgomery, AL
• Population (ZIP): 53,172
• Household income: $74,720
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 1742.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 224,008 people
• By 2030: 221,460 · -1.1%
• By 2040: 214,179 · -4.4%
• By 2050: 204,912 · -8.5%
• By 2075: 177,821 · -20.6%
• By 2100: 145,134 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 53% White 34% Asian 8% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 9% · South Korea, Canada, China
• Languages at home: 90% English-only · Korean 4% Spanish 3% Other Indo-European 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+30.7) · D 64.8% · R 34.1% · Other 1.1%
• 2008→2024 swing: +11.5pp toward D · 2008: 19.2pp · 2024: 30.7pp
• All cycles: 2024: D+30.7 2020: D+31.5 2016: D+26.2 2012: D+24.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.24%
• Current HPI: 148.7728
• Rent YoY: ▲ 2.99%
• Metro: Montgomery, 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

+53.8% since first listed

17 events — show timeline

• 2026-05-01 Price Changed $150,000 LMMLS
• 2026-03-17 Listed $155,000 LMMLS
• 2026-03-14 Coming Soon $155,000 LMMLS
• 2025-05-20 Relisted — LMMLS
• 2025-05-14 Contingent — LMMLS
• 2025-04-05 Price Changed $150,000 LMMLS
• 2025-03-26 Price Changed $165,000 LMMLS
• 2025-03-03 Listed $170,000 LMMLS
• 2025-03-03 Coming Soon — LMMLS
• 2020-11-03 Sold (Public Records) $91,000 Public Records
• 2015-11-06 Listed $84,900 MAAR
• 2013-05-02 Sold (MLS) $55,000 MAAR
• 2012-11-20 Listed $55,000 MAAR
• 2008-02-29 Sold (MLS) $116,000 MAAR
• 2007-09-06 Listed $119,900 MAAR
• 2002-09-12 Sold (MLS) $89,500 MAAR
• 2002-01-14 Listed $97,500 MAAR

Property tax history

+6.1%/yr

Latest (2025): $1,591 · +0.0% YoY. Source: county tax records.