6107 Gladstone Dr · Montgomery, AL 36117

$149,900

4 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 27 Days on market

Built 1973 Est $140k · 7% 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 +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +4.9/10.0
• ARV discount +4.5/15.0
• 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

SOLD "AS IS". LOTS OF POTENTIAL IN THIS 4-BEDROOM BRICK HOME. CALL AGENT FOR MORE INFORMATION

Key facts

• Updated kitchen
• Private bathroom
• Parking

Tags

• UPDATED KITCHEN
• STAINLESS STEEL STOVE
• STAINLESS STEEL DISHWASHER
• PRIVATE BATHROOM
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: One-story brick home; Slab foundation; Public road frontage; City lot with mature trees
• Construction: Brick construction; Built (year per public records); Slab foundation
• Exterior features: Fully fenced yard; Patio; Outdoor storage

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Electric range
• Bedrooms: Three bedrooms on the first floor
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Blinds and window treatments; Laminate and tile flooring
• Laundry & utility: Washer hookup; Dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/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 $149k (0.8% below list).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+3.0%/yr); 407 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 27 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $147,651 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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. 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?
5. 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.
6. 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.
7. 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: 0.99% ✗
• Cap rate: 8.16%
• Cash-on-cash: 6.68%
• DSCR: 1.30
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $140,448
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
441 Mulligan Dr	0.09mi	4/2.0	1,296 (+5%)	3mo	$145,400	$112	85
426 Stroll Dr	0.10mi	3/1.5 (-1)	1,226 (-0%)	4mo	$137,500	$112	84
6204 Lycoming Rd	0.22mi	3/2.0 (-1)	1,293 (+5%)	3mo	$137,000	$106	74
6120 Hinchcliff Rd	0.12mi	3/2.0 (-1)	1,350 (+10%)	3mo	$159,000	$118	71
6382 Pinebrook Dr	0.33mi	3/2.0 (-1)	1,144 (-7%)	4mo	$131,500	$115	64
728 Amity Ln	0.70mi	4/2.0	1,218 (-1%)	2mo	$140,500	$115	63
6459 Pinebrook Dr	0.42mi	3/2.0 (-1)	1,144 (-7%)	1mo	$130,750	$114	63
6439 Yates Ct	0.36mi	3/2.0 (-1)	1,120 (-9%)	2mo	$72,500	$65	61
220 Newcastle Ln	0.30mi	3/2.0 (-1)	1,368 (+11%)	2mo	$162,500	$119	61
6265 Wares Ferry Rd	0.48mi	3/2.0 (-1)	1,336 (+8%)	1mo	$141,000	$106	58
464 Park Lake Dr	0.66mi	3/2.0 (-1)	1,291 (+5%)	1mo	$138,000	$107	55
6515 Ridgeview Ln	0.59mi	3/2.0 (-1)	1,343 (+9%)	4mo	$210,000	$156	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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-9,468
• Equity at exit: $22,351

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $10,699
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,486 high
• Mortgage (P&I): −$786
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $234

Break-even live

Break-even rent $1,191

Max offer price $149,900

Occupancy floor 79%

Sensitivity live

Price	-10% $318	-5% $276	+0% $234	+5% $191	+10% $149
Rent	-10% $116	-5% $175	+0% $234	+5% $292	+10% $351
Rate	-1.0pp $309	-0.5pp $272	base $234	+0.5pp $195	+1.0pp $155

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
438 Mulligan Dr Montgomery, AL	4.0	2.0	1232	$1,500	$1.22	44d	1	0.03mi
457 Mulligan Dr Montgomery, AL	3.0	2.0	1344	$1,335	$0.99	44d	1	0.09mi
428 Fieldbrook Dr Montgomery, AL	3.0	1.5	1440	$995	$0.69	21d	1	0.21mi
241 Kroy Dr Montgomery, AL	4.0	2.0	1450	$1,195	$0.82	44d	1	0.25mi
523 Placid Dr Montgomery, AL	3.0	2.0	1122	$1,195	$1.07	44d	1	0.29mi
6411 Pinebrook Dr Montgomery, AL	3.0	1.5	1120	$1,095	$0.98	44d	1	0.35mi
6265 Nature Dr Montgomery, AL	3.0	2.0	1400	$1,050	$0.75	14d	1	0.35mi
6320 Burbank Crossing Loop Montgomery, AL	3.0	2.0	1238	$1,600	$1.29	44d	1	0.35mi
760 N Burbank Dr Montgomery, AL	3.0	2.0	1102	$1,400	$1.27	44d	1	0.42mi
706 Placid Dr Montgomery, AL	3.0	1.5	1120	$1,400	$1.25	14d	1	0.45mi
6265 Wares Ferry Rd Montgomery, AL	3.0	2.0	1336	$1,600	$1.20	14d	1	0.46mi
6121 Boardwalk Blvd Montgomery, AL	1.0–3.0	1.0–2.0	877	$1,075	$1.23	14d	4	0.47mi
6121 Boardwalk Blvd Montgomery, AL	3.0	2.0	1155	$1,075	$0.93	21d	1	0.47mi
728 Amity Ln Montgomery, AL	4.0	2.0	1218	$1,700	$1.40	14d	1	0.66mi
6637 Ridgeview Cir Montgomery, AL	3.0	2.5	1458	$1,700	$1.17	21d	1	0.81mi
5735 Sweet Meadow Dr Montgomery, AL	3.0	2.0	1413	$1,525	$1.08	44d	1	1.03mi
5926 Carmel Dr Montgomery, AL	3.0	2.0	1158	$1,200	$1.04	44d	1	1.05mi
203 Eastdale Rd S Montgomery, AL	1.0–3.0	1.0–2.0	931	$1,290	$1.39	14d	13	1.07mi
135 Hambleton Rd Montgomery, AL	1.0–3.0	1.0–2.0	900	$1,640	$1.82	14d	11	1.14mi
529 Mitylene Dr Montgomery, AL	3.0	2.0	1463	$1,550	$1.06	21d	1	1.14mi
516 Lawndale Ln Montgomery, AL	3.0	1.0	1125	$1,150	$1.02	44d	1	1.22mi
535 Lawndale Ln Montgomery, AL	4.0	1.5	1260	$1,100	$0.87	14d	1	1.27mi
500 Eastdale Rd S Montgomery, AL	1.0–3.0	1.0–2.5	1042	$900	$0.86	21d	20	1.32mi
633 Groveland Dr Montgomery, AL	3.0	2.0	1424	$1,200	$0.84	44d	1	1.34mi
113 Kentucky Oaks Montgomery, AL	3.0	2.0	1246	$1,600	$1.28	21d	1	1.34mi

Listing history 24 events

1. 2026-06-18
   days on market $149,900 Active 27 DOM
2. 2026-06-17
   days on market $149,900 Active 26 DOM
3. 2026-06-16
   days on market $149,900 Active 25 DOM
4. 2026-06-15
   days on market $149,900 Active 24 DOM
5. 2026-06-14
   days on market $149,900 Active 22 DOM
6. 2026-06-13
   days on market $149,900 Active 21 DOM
7. 2026-06-10
   days on market $149,900 Active 19 DOM
8. 2026-06-09
   days on market $149,900 Active 18 DOM
9. 2026-06-09
   status $149,900 Active 17 DOM
10. 2026-06-08
    days on market $149,900 Contingent 17 DOM
11. 2026-06-07
    days on market $149,900 Contingent 16 DOM
12. 2026-06-03
    days on market $149,900 Contingent 12 DOM
13. 2026-06-02
    days on market $149,900 Contingent 11 DOM
14. 2026-06-01
    statusdays on market $149,900 Contingent 10 DOM
15. 2026-05-31
    days on market $149,900 Active 9 DOM
16. 2026-05-30
    days on market $149,900 Active 8 DOM
17. 2026-05-20
    listed $149,900 Active
18. 2025-01-05
    historical $1,350
19. 2024-12-24
    listed $1,350
20. 2023-02-02
    soldstatus $152,000
21. 2022-06-02
    soldstatus $95,000
22. 2012-08-07
    listed $90,000
23. 2004-11-23
    soldstatus $57,500 103-char remark

    Show marketing remark (103 chars)

    SOLD "AS IS". LOTS OF POTENTIAL IN THIS 4-BEDROOM BRICK HOME. CALL AGENT FOR MORE INFORMATION

24. 2004-10-11
    listed $58,850 103-char remark

    Show marketing remark (103 chars)

    SOLD "AS IS". LOTS OF POTENTIAL IN THIS 4-BEDROOM BRICK HOME. CALL AGENT FOR MORE INFORMATION

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $1,106 · $92/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 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: $17,836
• − Mortgage interest: −$8,397
• − Property taxes: −$1,106
• − Insurance: −$750
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$4,361
• Taxable income: $370
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $2,714/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

+154.7% since first listed

8 events — show timeline

• 2026-05-20 Listed $149,900 MAAR
• 2025-01-05 Rental Removed $1,350 APPFOLIO
• 2024-12-24 Listed for Rent $1,350 APPFOLIO
• 2023-02-02 Sold (Public Records) $152,000 Public Records
• 2022-06-02 Sold (Public Records) $95,000 Public Records
• 2012-08-07 Listed $90,000 MAAR
• 2004-11-23 Sold (MLS) $57,500 MAAR
• 2004-10-11 Listed $58,850 MAAR

Property tax history

+8.5%/yr

Latest (2025): $1,106 · +2.3% YoY. Source: county tax records.