209 Arlington Rd · Montgomery, AL 36105

$255,900

8 bd · 1.0 ba · 3,528 sqft · MultiFamily public records · 246 Days on market

Built 1941 Est $209k · 22% over

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Why this score? — see what drove the C 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This classic 4-unit apartment building in Montgomery, Alabama offers strong investment potential with plenty of room to add value. Each unit includes 1-2 bedrooms, a full bathroom, a living area, and kitchen space. While the property has not been recently updated, it has been maintained and is fully functional, providing an excellent opportunity for investors looking to renovate and increase rental income. Situated in an established neighborhood close to downtown Montgomery, local schools, shopping centers, and public transportation, this property offers consistent rental demand. All units are separately metered for electricity, and tenants enjoy off-street parking and a shared outdoor area. Ideal for investors or renovators seeking a multi-family property with upside potential. With some cosmetic and systems updates, this property could be repositioned for significantly higher returns. Don't miss this chance to invest in one of Montgomery’s steady rental markets with long-term growth opportunities.

Key facts

• Shared outdoor area
• Separately metered
• Off-street parking

Tags

• ESTABLISHED NEIGHBORHOOD
• SEPARATELY METERED
• OFF-STREET PARKING
• SHARED OUTDOOR AREA
• MULTI-FAMILY PROPERTY

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $256k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $398/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $256k).
• Recommended offer: $225k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $4,049/mo this rent would consume 117% of the median local household income ($41k/yr) (locally 679% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 3.0% rent growth), your $72k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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

• Watch-outs: built in 1941 — 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 $225,192 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.66%
• DSCR: 2.19
• GRM: 5.3

CMA / ARV

• ARV (median comp): $209,474
• List price: $255,900
• Delta: 22.16%
• Verdict: OVERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.5%
• Equity multiple: 1.84×
• Total profit: $59,870
• Equity at exit: $38,156

10-year hold

• IRR: 28.7%
• Equity multiple: 3.55×
• Total profit: $182,516
• Equity at exit: $22,126

Cash invested: $71,652 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $4,049 high
• Mortgage (P&I): −$1,342
• Tax from tax record: −$158 /mo · $1,901/yr
• Insurance: −$107
• HOA: −$0
• Vacancy / Maint / Mgmt: −$850
• Net cashflow: $1,592

Break-even live

Break-even rent $2,034

Max offer price $255,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,737	-5% $1,664	+0% $1,592	+5% $1,519	+10% $1,447
Rent	-10% $1,272	-5% $1,432	+0% $1,592	+5% $1,752	+10% $1,912
Rate	-1.0pp $1,721	-0.5pp $1,657	base $1,592	+0.5pp $1,525	+1.0pp $1,458

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,048
Total (4 units)			$4,049

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: $63,975
• Closing costs: $7,677
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $255,900 Active 246 DOM
2. 2026-06-17
   days on market $255,900 Active 245 DOM
3. 2026-06-16
   days on market $255,900 Active 244 DOM
4. 2026-06-15
   days on market $255,900 Active 243 DOM
5. 2026-06-14
   days on market $255,900 Active 241 DOM
6. 2026-06-13
   days on market $255,900 Active 240 DOM
7. 2026-06-10
   days on market $255,900 Active 238 DOM
8. 2026-06-09
   days on market $255,900 Active 237 DOM
9. 2026-06-08
   days on market $255,900 Active 236 DOM
10. 2026-06-07
    days on market $255,900 Active 235 DOM
11. 2026-06-03
    days on market $255,900 Active 231 DOM
12. 2026-06-02
    days on market $255,900 Active 230 DOM
13. 2026-06-01
    days on market $255,900 Active 229 DOM
14. 2026-05-31
    days on market $255,900 Active 228 DOM
15. 2026-05-30
    days on market $255,900 Active 227 DOM
16. 2026-05-01
    status Active 1020-char remark

    Show marketing remark (1020 chars)

    This classic 4-unit apartment building in Montgomery, Alabama offers strong investment potential with plenty of room to add value. Each unit includes 1-2 bedrooms, a full bathroom, a living area, and kitchen space. While the property has not been recently updated, it has been maintained and is fully functional, providing an excellent opportunity for investors looking to renovate and increase rental income. Situated in an established neighborhood close to downtown Montgomery, local schools, shopping centers, and public transportation, this property offers consistent rental demand. All units are separately metered for electricity, and tenants enjoy off-street parking and a shared outdoor area. Ideal for investors or renovators seeking a multi-family property with upside potential. With some cosmetic and systems updates, this property could be repositioned for significantly higher returns. Don't miss this chance to invest in one of Montgomery’s steady rental markets with long-term growth opportunities.

17. 2025-10-14
    listed $255,900 Active 1020-char remark

    Show marketing remark (1020 chars)

    This classic 4-unit apartment building in Montgomery, Alabama offers strong investment potential with plenty of room to add value. Each unit includes 1-2 bedrooms, a full bathroom, a living area, and kitchen space. While the property has not been recently updated, it has been maintained and is fully functional, providing an excellent opportunity for investors looking to renovate and increase rental income. Situated in an established neighborhood close to downtown Montgomery, local schools, shopping centers, and public transportation, this property offers consistent rental demand. All units are separately metered for electricity, and tenants enjoy off-street parking and a shared outdoor area. Ideal for investors or renovators seeking a multi-family property with upside potential. With some cosmetic and systems updates, this property could be repositioned for significantly higher returns. Don't miss this chance to invest in one of Montgomery’s steady rental markets with long-term growth opportunities.

18. 2021-10-22
    soldstatus $240,000
19. 2021-10-12
    soldstatus $240,000 1168-char remark

    Show marketing remark (1168 chars)

    Own this - Centrally located Quad plex and begin to build or ADD TO your existing portfolio. There are 2 - 2 bedroom and 1 bathroom units here and 2 - 1 bedroom and 1 bathroom units available. Although one unit is owner occupied - he is willing to lease back until approx the end of 2021 so right out of the gate - this investment is making you money!!!! The other three units have leases in place and some have just been renewed! What more could you ask for???. .. An investment - centrally located - with tons of opportunities to fill vacancies - when they occur - and a property with different layouts to attract that young professional, that college student OR that small family that needs just a little more than 1 bedroom!!! The charm throughout this property is customary and to be appreciated by anyone who know of the nostalgia and beauty of what this historic area of Montgomery offers and supports. Lets talk soon and get you inside of this awesome property and on your way to making money with ease! This property even has a transferable termite bond by a well known local exterminating company! Rest at ease for years to come and watch the checks come in!

20. 2021-04-06
    listed $270,000 1168-char remark

    Show marketing remark (1168 chars)

    Own this - Centrally located Quad plex and begin to build or ADD TO your existing portfolio. There are 2 - 2 bedroom and 1 bathroom units here and 2 - 1 bedroom and 1 bathroom units available. Although one unit is owner occupied - he is willing to lease back until approx the end of 2021 so right out of the gate - this investment is making you money!!!! The other three units have leases in place and some have just been renewed! What more could you ask for???. .. An investment - centrally located - with tons of opportunities to fill vacancies - when they occur - and a property with different layouts to attract that young professional, that college student OR that small family that needs just a little more than 1 bedroom!!! The charm throughout this property is customary and to be appreciated by anyone who know of the nostalgia and beauty of what this historic area of Montgomery offers and supports. Lets talk soon and get you inside of this awesome property and on your way to making money with ease! This property even has a transferable termite bond by a well known local exterminating company! Rest at ease for years to come and watch the checks come in!

21. 2018-10-30
    soldstatus $151,000
22. 2017-04-26
    soldstatus $105,000
23. 2012-08-31
    soldstatus $110,000

ⓘ 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: $1,901 · $158/mo
• Projected year-2 tax: $1,901 · $158/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 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,588
• − Mortgage interest: −$14,334
• − Property taxes: −$1,901
• − Insurance: −$1,280
• − Repairs & maintenance: −$3,887
• − Management: −$3,887
• − Depreciation: −$7,444
• Taxable income: $15,854
• Est. tax owed @ 24.0%: −$3,805
• After-tax cash flow: $15,295/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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: Predominantly Black (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• Rent YoY: —
• 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

+132.6% since first listed

8 events — show timeline

• 2026-05-01 Relisted — MAAR
• 2025-10-14 Listed $255,900 MAAR
• 2021-10-22 Sold (Public Records) $240,000 Public Records
• 2021-10-12 Sold (MLS) $240,000 MAAR
• 2021-04-06 Listed $270,000 MAAR
• 2018-10-30 Sold (Public Records) $151,000 Public Records
• 2017-04-26 Sold (Public Records) $105,000 Public Records
• 2012-08-31 Sold (Public Records) $110,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $1,901 · +2.9% YoY. Source: county tax records.