388 Perry Hill Rd · Montgomery, AL 36109

$156,500

6 bd · 3.0 ba · 2,940 sqft · SingleFamily public records · 202 Days on market

Built 1945 0.35 ac lot $53/sqft · 33% below area Est $243k · 36% under ↓ 44% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

Key facts

• Own kitchenette
• 0.35 acre lot
• Parking

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE EXTERIOR ENTRANCE
• OWN KITCHENETTE

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $156k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $156k).
• Recommended offer: $138k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 6.0% in Montgomery — 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 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 (+2.6%/yr); 207 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 41% of the median local income ($59k/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 $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $44k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 202 days — a 12% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $26k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.29% ✓
• Cap rate: 11.27%
• Cash-on-cash: 17.76%
• DSCR: 1.79
• GRM: 6.5

CMA / ARV

• ARV (median comp): $242,837
• List price: $156,500
• Delta: -35.55%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
549 Farmington Rd	0.52mi	5/2.5 (-1)	3,010 (+2%)	23mo	$249,000	$83	46
3667 Willow Lane Dr	0.58mi	5/3.0 (-1)	2,565 (-13%)	5mo	$152,000	$59	42
625 Bellehurst Dr	0.56mi	5/3.0 (-1)	2,607 (-11%)	23mo	$247,000	$95	31

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.35×
• Total profit: $15,192
• Equity at exit: $23,335

10-year hold

• IRR: 17.8%
• Equity multiple: 2.45×
• Total profit: $63,324
• Equity at exit: $13,531

Cash invested: $43,820 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 207
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,017 medium
• Mortgage (P&I): −$821
• Tax from tax record: −$59 /mo · $711/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $649

Break-even live

Break-even rent $1,196

Max offer price $156,500

Occupancy floor 63%

Sensitivity live

Price	-10% $737	-5% $693	+0% $649	+5% $604	+10% $560
Rent	-10% $489	-5% $569	+0% $649	+5% $728	+10% $808
Rate	-1.0pp $727	-0.5pp $688	base $649	+0.5pp $608	+1.0pp $567

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: $39,125
• Closing costs: $4,695
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
950 Karen Rd Montgomery, AL	5.0	2.0	2400	$1,650	$0.69	14d	1	0.55mi
3667 Willow Lane Dr Montgomery, AL	5.0	3.0	2565	$1,850	$0.72	44d	1	0.60mi
1936 Vaughn Ln Montgomery, AL	5.0	4.0	3516	$2,900	$0.82	44d	1	1.50mi

Listing history 36 events

1. 2026-06-18
   days on market $156,500 Active 202 DOM
2. 2026-06-17
   days on market $156,500 Active 201 DOM
3. 2026-06-16
   days on market $156,500 Active 200 DOM
4. 2026-06-15
   days on market $156,500 Active 199 DOM
5. 2026-06-14
   days on market $156,500 Active 197 DOM
6. 2026-06-13
   days on market $156,500 Active 196 DOM
7. 2026-06-10
   days on market $156,500 Active 194 DOM
8. 2026-06-09
   days on market $156,500 Active 193 DOM
9. 2026-06-08
   days on market $156,500 Active 192 DOM
10. 2026-06-07
    days on market $156,500 Active 191 DOM
11. 2026-06-03
    days on market $156,500 Active 187 DOM
12. 2026-06-02
    days on market $156,500 Active 186 DOM
13. 2026-06-01
    days on market $156,500 Active 185 DOM
14. 2026-05-31
    days on market $156,500 Active 184 DOM
15. 2026-05-30
    days on market $156,500 Active 183 DOM
16. 2026-04-21
    price $156,500 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

17. 2026-03-22
    price $157,500 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

18. 2026-01-14
    price $158,500 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

19. 2026-01-08
    price $171,388 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

20. 2025-12-16
    price $177,500 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

21. 2025-11-27
    listed $182,500 Active 1278-char remark

    Show marketing remark (1278 chars)

    Welcome! Welcome to a home that offers space, comfort, and everyday convenience in Montgomery. Ideally situated on Perry Hill Road, this property provides easy access to shopping, dining, and major thoroughfares-making daily routines simple and efficient. Inside, you'll find an inviting layout with natural flow, creating a comfortable setting for both everyday living and entertaining. Abundant natural light enhances the living spaces, adding warmth and welcoming feel throughout the home. The kitchen features ample cabinet and counter space, offering both functionality and flexibility for a variety of needs. Whether preparing meals or gathering with others, this space is designed to adapt to your lifestyle. This property may appeal to those seeking an addition to their real estate portfolio. Its location and layout offer flexibility for a variety of uses. The home's layout and outdoor space provide room to spread out and enjoy daily life. With convenient access to nearby amenities and services, it offers a practical option for those looking for comfort and accessibility in an established area. This property presents an opportunity to own a home in a convenient Montgomery location with endless potential to make it your own. Schedule your private showing today.

22. 2025-09-27
    price $194,826
23. 2025-09-02
    status Active
24. 2025-08-20
    price $198,624
25. 2025-08-18
    price $210,388
26. 2025-08-15
    price $214,900
27. 2025-08-08
    price $219,900
28. 2025-07-25
    price $224,900
29. 2025-06-26
    price $234,900
30. 2025-06-19
    price $244,900
31. 2025-06-09
    price $249,900
32. 2025-05-27
    listed $259,900 Active
33. 2025-04-23
    price $264,598
34. 2025-03-23
    price $273,888
35. 2025-02-24
    price $275,000
36. 2025-02-02
    listed $277,300 Active

ⓘ 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: $711 · $59/mo
• Projected year-2 tax: $711 · $59/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 7/10 Severe 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $24,210
• − Mortgage interest: −$8,766
• − Property taxes: −$711
• − Insurance: −$782
• − Repairs & maintenance: −$1,937
• − Management: −$1,937
• − Depreciation: −$4,553
• Taxable income: $5,524
• Est. tax owed @ 24.0%: −$1,326
• After-tax cash flow: $6,458/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): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

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: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• 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

-43.6% since first listed

21 events — show timeline

• 2026-04-21 Price Changed $156,500 MAAR
• 2026-03-22 Price Changed $157,500 MAAR
• 2026-01-14 Price Changed $158,500 MAAR
• 2026-01-08 Price Changed $171,388 MAAR
• 2025-12-16 Price Changed $177,500 MAAR
• 2025-11-27 Listed $182,500 MAAR
• 2025-09-27 Price Changed $194,826 MAAR
• 2025-09-02 Relisted — MAAR
• 2025-08-20 Price Changed $198,624 MAAR
• 2025-08-18 Price Changed $210,388 MAAR
• 2025-08-15 Price Changed $214,900 MAAR
• 2025-08-08 Price Changed $219,900 MAAR
• 2025-07-25 Price Changed $224,900 MAAR
• 2025-06-26 Price Changed $234,900 MAAR
• 2025-06-19 Price Changed $244,900 MAAR
• 2025-06-09 Price Changed $249,900 MAAR
• 2025-05-27 Listed $259,900 MAAR
• 2025-04-23 Price Changed $264,598 MAAR
• 2025-03-23 Price Changed $273,888 MAAR
• 2025-02-24 Price Changed $275,000 MAAR
• 2025-02-02 Listed $277,300 MAAR

Property tax history

+3.2%/yr

Latest (2025): $711 · -18.9% YoY. Source: county tax records.