510 Dexter Ave · Mobile, AL 36604

$135,000

3 bd · 2.0 ba · 2,072 sqft · SingleFamily public records · 285 Days on market

Built 2005 Good condition 5,745 sqft lot $65/sqft · 29% below area Est $191k · 29% under

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.4/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 510 Dexter Avenue located minutes from Downtown. Spacious rooms with high ceilings and one of the rooms could be used as a fourth bedroom. Lots of updates were done in 2023. All appliances in the kitchen remain at no value. Beautiful floors with no carpet through out the house. Large oversized front porch perfect for a big swing on it to sip your morning coffee. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

Key facts

• High ceilings
• Beautiful floors
• 5,745 sq ft lot

Tags

• HIGH CEILINGS
• LARGE OVERSIZED FRONT PORCH
• BEAUTIFUL FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $747 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 5.3% 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: 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.
• Zoned schools: Leinkauf Elementary School (math 8% / reading 26%, grade F, #499 of 627 statewide, top 80%, 538 students, 91% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% FRL); Lillie B Williamson High School (math 2% / reading 12%, grade F, #273 of 305 statewide, top 89%, 956 students, 94% FRL) — zoned schools average 94% FRL vs 67% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 27% district-wide (-16 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.8%/yr); 166 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% 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 37% of the median local income ($66k/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 $933 of loan paydown is wiped out by about $4k 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 + 3.8% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 285 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $110k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 285 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: 1.52% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.70%
• DSCR: 2.05
• GRM: 5.5

CMA / ARV

• ARV (median comp): $190,600
• List price: $135,000
• Delta: -29.17%
• 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
356 Michigan Ave Ave	0.32mi	3/2.0	2,108 (+2%)	1mo	$305,400	$145	81
304 S Georgia Ave	0.45mi	3/2.0	2,012 (-3%)	9mo	$390,000	$194	66
208 Tuttle Ave	0.37mi	3/3.0	2,012 (-3%)	13mo	$240,000	$119	63
551 Tisdale St	0.45mi	3/2.0	1,897 (-8%)	9mo	$95,000	$50	57
78 Etheridge St	0.62mi	3/2.5	2,176 (+5%)	5mo	$435,000	$200	56
201 Catherine St S	0.63mi	3/2.0	1,922 (-7%)	9mo	$405,000	$211	52
302 Stocking St	0.28mi	2/1.0 (-1)	1,771 (-14%)	4mo	$174,000	$98	50
1814 La Salle St	0.72mi	3/2.0	1,966 (-5%)	11mo	$37,900	$19	49
361 Regina Ave	0.55mi	3/2.0	1,860 (-10%)	13mo	$265,000	$142	46
123 Macy Pl	0.68mi	3/2.5	1,861 (-10%)	6mo	$375,000	$202	44
1747 Hunter Ave	0.70mi	3/2.0	1,788 (-14%)	5mo	$357,000	$200	40
1706 Hunter Ave	0.68mi	2/2.0 (-1)	1,789 (-14%)	14mo	$270,000	$151	29

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.72×
• Total profit: $27,300
• Equity at exit: $20,129

10-year hold

• IRR: 26.7%
• Equity multiple: 3.43×
• Total profit: $91,767
• Equity at exit: $11,672

Cash invested: $37,800 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 26 active · 21 under contract
• Months of supply: 6.2 mo (16%/mo absorbed)
• Median asking: $289,608 ($143/sqft)
• Median days on market: 65 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: -35.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36604

• Rents YoY: 3.8%
• Active inventory: 166
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,055 high
• Mortgage (P&I): −$708
• Tax from tax record: −$113 /mo · $1,351/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $747

Break-even live

Break-even rent $1,110

Max offer price $135,000

Occupancy floor 59%

Sensitivity live

Price	-10% $823	-5% $785	+0% $747	+5% $708	+10% $670
Rent	-10% $584	-5% $665	+0% $747	+5% $828	+10% $909
Rate	-1.0pp $815	-0.5pp $781	base $747	+0.5pp $712	+1.0pp $676

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: $33,750
• Closing costs: $4,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 West St Mobile, AL	3.0	2.5	2554	$3,100	$1.21	0d	1	0.48mi
255 West St Mobile, AL	3.0	2.5	2554	$3,100	$1.21	10d	1	0.48mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	154d	1	0.59mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	154d	1	0.61mi
1706 Church St Unit B Mobile, AL	2.0	1.5	1585	$1,195	$0.75	10d	1	0.62mi
173 Hannon Ave Mobile, AL	3.0	3.0	2015	$1,850	$0.92	1d	1	0.74mi
1754 Hunter Ave Unit 1043550P Mobile, AL	4.0	2.0	2723	$4,589	$1.69	1d	1	0.75mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	154d	1	0.75mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	184d	1	0.76mi
652 Lesesne St Mobile, AL	4.0	2.0	1686	$1,500	$0.89	6d	1	0.77mi
262 Roper St Unit A Mobile, AL	2.0	1.5	1455	$1,600	$1.10	10d	1	0.77mi
1301 S Ann St Mobile, AL	4.0	1.0	1800	$1,295	$0.72	0d	1	0.80mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	184d	1	0.90mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,527	$1.78	2d	1	0.90mi
1867 Old Government St Unit B Mobile, AL	2.0	1.0	1700	$1,425	$0.84	10d	1	0.90mi
814 S Broad St Unit 1043690P Mobile, AL	3.0	2.0	1991	$2,909	$1.46	1d	1	0.94mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	184d	1	0.97mi
1916 Myrtle Ave Mobile, AL	2.0	1.5	1428	$1,600	$1.12	51d	1	0.99mi
200 Williams St Mobile, AL	2.0	2.0	1939	$1,400	$0.72	2d	1	1.15mi
60 Lemoyne Pl Mobile, AL	3.0	2.0	1796	$1,875	$1.04	10d	1	1.15mi
1753 New Hamilton St Mobile, AL	3.0	1.5	1500	$1,795	$1.20	10d	1	1.16mi
57 N Ann St Unit 1043547P Mobile, AL	1.0–7.0	1.0–5.0	1092	$5,855	$5.36	2d	3	1.18mi
107 Michael Donald Ave Unit 1043461P Mobile, AL	4.0	3.0	2195	$4,579	$2.09	1d	1	1.25mi
1109 Oak St Mobile, AL	2.0	1.0	1882	$825	$0.44	2d	1	1.30mi
574 Mohawk St Mobile, AL	3.0	2.0	1564	$2,800	$1.79	51d	1	1.31mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	184d	1	1.33mi
1321 SpringHill Ave Unit B Mobile, AL	2.0	1.0	2006	$950	$0.47	184d	1	1.35mi
1321 Spring Hill Ave Mobile, AL	2.0	1.0	2006	$950	$0.47	51d	1	1.35mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	184d	1	1.37mi
129 Shell Road Pl Unit 1043713P Mobile, AL	4.0	2.0	1496	$4,883	$3.26	1d	1	1.37mi

Listing history 50 events

1. 2026-11-08
   days on market $135,000 Active 285 DOM
2. 2026-11-07
   days on market $135,000 Active 284 DOM
3. 2026-11-06
   days on market $135,000 Active 283 DOM
4. 2026-11-05
   days on market $135,000 Active 282 DOM
5. 2026-11-04
   days on market $135,000 Active 281 DOM
6. 2026-11-02
   days on market $135,000 Active 279 DOM
7. 2026-11-01
   days on market $135,000 Active 278 DOM
8. 2026-10-31
   days on market $135,000 Active 277 DOM
9. 2026-10-30
   days on market $135,000 Active 276 DOM
10. 2026-10-29
    pricedays on market $135,000 Active 275 DOM
11. 2026-10-28
    days on market $145,000 Active 274 DOM
12. 2026-10-27
    days on market $145,000 Active 273 DOM
13. 2026-10-26
    days on market $145,000 Active 272 DOM
14. 2026-10-25
    days on market $145,000 Active 271 DOM
15. 2026-10-24
    days on market $145,000 Active 270 DOM
16. 2026-10-23
    days on market $145,000 Active 269 DOM
17. 2026-10-22
    days on market $145,000 Active 268 DOM
18. 2026-10-21
    days on market $145,000 Active 267 DOM
19. 2026-10-20
    days on market $145,000 Active 266 DOM
20. 2026-10-19
    days on market $145,000 Active 265 DOM
21. 2026-10-18
    days on market $145,000 Active 264 DOM
22. 2026-10-17
    days on market $145,000 Active 263 DOM
23. 2026-10-16
    days on market $145,000 Active 262 DOM
24. 2026-10-15
    days on market $145,000 Active 261 DOM
25. 2026-10-14
    days on market $145,000 Active 260 DOM
26. 2026-10-13
    days on market $145,000 Active 259 DOM
27. 2026-10-12
    days on market $145,000 Active 258 DOM
28. 2026-10-11
    days on market $145,000 Active 257 DOM
29. 2026-10-10
    days on market $145,000 Active 256 DOM
30. 2026-10-09
    days on market $145,000 Active 255 DOM
31. 2026-10-08
    days on market $145,000 Active 254 DOM
32. 2026-10-07
    days on market $145,000 Active 253 DOM
33. 2026-10-06
    days on market $145,000 Active 252 DOM
34. 2026-10-05
    days on market $145,000 Active 251 DOM
35. 2026-10-04
    days on market $145,000 Active 250 DOM
36. 2026-10-03
    days on market $145,000 Active 249 DOM
37. 2026-10-02
    days on market $145,000 Active 248 DOM
38. 2026-10-01
    days on market $145,000 Active 247 DOM
39. 2026-09-30
    days on market $145,000 Active 246 DOM
40. 2026-09-29
    days on market $145,000 Active 245 DOM
41. 2026-09-28
    days on market $145,000 Active 244 DOM
42. 2026-09-27
    pricedays on market $145,000 Active 243 DOM
43. 2026-09-26
    days on market $155,000 Active 242 DOM
44. 2026-09-25
    days on market $155,000 Active 241 DOM
45. 2026-09-24
    days on market $155,000 Active 240 DOM
46. 2026-09-24
    days on market $155,000 Active 239 DOM
47. 2026-09-22
    days on market $155,000 Active 238 DOM
48. 2026-09-21
    days on market $155,000 Active 237 DOM
49. 2026-09-20
    days on market $155,000 Active 236 DOM
50. 2026-09-19
    days on market $155,000 Active 235 DOM

ⓘ 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: $1,351 · $113/mo
• Projected year-2 tax: $1,351 · $113/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: $24,660
• − Mortgage interest: −$7,562
• − Property taxes: −$1,351
• − Insurance: −$675
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$3,927
• Taxable income: $7,199
• Est. tax owed @ 24.0%: −$1,728
• After-tax cash flow: $7,232/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.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $10,360–$31,080 screening

This property is in good condition with recent updates, making it a solid investment opportunity for both resale and rental markets.

Components & finishes AI

Roof asphalt shingle · good Appliances stainless steel

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear on the roof.
• Minor Windows (windows) — No visible signs of damage or wear on the windows.
• Minor Electrical (electrical) — No visible signs of damage or wear on the electrical components.
• Minor Plumbing (plumbing) — No visible signs of damage or wear on the plumbing.
• Minor Exterior (exterior) — No visible signs of damage or wear on the exterior.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics, attracting more buyers and renters. ↑
• Both Landscaping the front yard — A well-maintained front yard can improve curb appeal and add value to the property. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 11/100

Zoned Schools

Elementary Leinkauf Elementary School F AL #499/627 Nat'l #35,191/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Lillie B Williamson High School F AL #273/305 Nat'l #16,813/17,239

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

B Composite livability gradescore 75/100

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 · 415,303 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 8,836
• Household income: $66,357
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 42% Two or more races 3% Hispanic / Latino 2%
• Languages at home: 97% English-only · Spanish 2%

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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: ▼ -143.27%
• Current HPI: 205.7241
• Rent YoY: ▲ 3.78%
• Metro: Mobile, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+68.2% since first listed

13 events — show timeline

• 2026-04-28 Price Changed $185,000 GCMLS AL
• 2026-03-28 Price Changed $195,000 GCMLS AL
• 2026-02-26 Price Changed $205,000 GCMLS AL
• 2026-01-27 Listed $215,000 GCMLS AL
• 2024-09-26 Price Changed $230,000 GCMLS AL
• 2024-09-12 Price Changed $245,000 GCMLS AL
• 2024-09-05 Price Changed $255,000 GCMLS AL
• 2024-01-20 Price Changed $265,000 GCMLS AL
• 2024-01-15 Price Changed $279,000 GCMLS AL
• 2023-10-04 Price Changed $255,000 GCMLS AL
• 2023-09-22 Price Changed $265,000 GCMLS AL
• 2022-07-06 Sold (Public Records) $110,000 Public Records
• 2022-06-30 Sold (MLS) $110,000 GCMLS AL

Property tax history

+3.5%/yr

Latest (2025): $1,351 · +0.7% YoY. Source: county tax records.