512 Cherokee St · Mobile, AL 36606

$84,900

3 bd · 1.0 ba · 1,526 sqft · SingleFamily public records · 57 Days on market

Built 1987 7,840 sqft lot $56/sqft · 29% above area Est $66k · 29% over ↓ 43% since listing

---

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
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and well-maintained 3-bedroom, 2-bath home offering 1,526 square feet—perfect for a first-time homebuyer, those looking to downsize, or investors seeking a solid addition to their rental portfolio. This property features beautiful hardwood flooring throughout and a spacious kitchen with ample countertop and cabinet space, ideal for everyday living and entertaining. Major updates provide peace of mind, with the seller noting the HVAC system is just 1 year old and the roof is approximately 6 years old. The home has been well cared for and includes a handicap-accessible ramp, adding convenience and accessibility. Whether you’re starting out, simplifying your lifestyle, or expanding your investment portfolio, this property is a great opportunity you won’t want to miss!

Key facts

• Hardwood flooring
• Roof
• Spacious kitchen

Tags

• HARDWOOD FLOORING
• SPACIOUS KITCHEN
• AMPLE COUNTERTOP
• HVAC SYSTEM
• ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $694 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% vs local median 4.9% 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: schools D-, 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.
• Market conditions: Rents rising fast (+5.1%/yr); 174 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 36% of the median local income ($51k/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 $587 of loan paydown is wiped out by about $3k 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 + 5.1% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.

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 $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. 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: 1.79% ✓
• Cap rate: 16.10%
• Cash-on-cash: 35.03%
• DSCR: 2.56
• GRM: 4.6

CMA / ARV

• ARV (median comp): $65,936
• List price: $84,900
• Delta: 28.76%
• 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
1809 Calmes St	0.18mi	4/2.0 (+1)	1,420 (-7%)	0mo	$45,000	$32	70
603 Glenwood St	0.35mi	3/1.0	1,400 (-8%)	4mo	$137,000	$98	66
1017 Houston St	0.39mi	3/2.0	1,435 (-6%)	3mo	$24,900	$17	65
417 Crenshaw St	0.42mi	4/1.0 (+1)	1,426 (-7%)	3mo	$48,000	$34	62
1910 Hunter Ave	0.50mi	3/2.5	1,462 (-4%)	4mo	$310,000	$212	60
123 Williams Ct	0.73mi	3/1.0	1,507 (-1%)	5mo	$290,000	$192	59
2153 Old Government St	0.58mi	4/2.0 (+1)	1,558 (+2%)	2mo	$209,900	$135	58
110 Houston St	0.71mi	3/2.0	1,576 (+3%)	4mo	$317,500	$201	55
313 Morgan Ave	0.66mi	3/2.0	1,667 (+9%)	2mo	$125,000	$75	48
273 Park Ter	0.54mi	3/2.0	1,720 (+13%)	5mo	$435,000	$253	46
271 Park Ter	0.54mi	2/2.5 (-1)	1,710 (+12%)	3mo	$289,500	$169	41
159 Williams St	0.65mi	2/3.0 (-1)	1,700 (+11%)	5mo	$265,000	$156	34

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 32.7%
• Equity multiple: 2.41×
• Total profit: $33,629
• Equity at exit: $12,659

10-year hold

• IRR: 40.8%
• Equity multiple: 5.20×
• Total profit: $99,866
• Equity at exit: $7,341

Cash invested: $23,772 (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 36606

• Rents YoY: 5.1%
• Active inventory: 174
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,522 high
• Mortgage (P&I): −$445
• Tax from tax record: −$28 /mo · $335/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $694

Break-even live

Break-even rent $644

Max offer price $84,900

Occupancy floor 49%

Sensitivity live

Price	-10% $742	-5% $718	+0% $694	+5% $670	+10% $646
Rent	-10% $574	-5% $634	+0% $694	+5% $754	+10% $814
Rate	-1.0pp $737	-0.5pp $715	base $694	+0.5pp $672	+1.0pp $649

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
561 Dauphin Island Pkwy Mobile, AL	4.0	2.0	1389	$1,050	$0.76	44d	1	0.13mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	44d	1	0.19mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	0.37mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	44d	1	0.39mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	44d	1	0.51mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	44d	1	0.51mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,750	$1.39	21d	1	0.58mi
182 Williams St Unit 1043570P Mobile, AL	3.0	1.0	1399	$2,476	$1.77	14d	1	0.59mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	44d	1	0.62mi
412 Pinehill Dr Mobile, AL	2.0	2.0	2000	$2,450	$1.23	14d	1	0.74mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	14d	1	0.79mi
2068 Victory Ct Mobile, AL	4.0	1.0	1259	$1,225	$0.97	44d	1	0.82mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	44d	1	0.93mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	44d	1	0.95mi
713 Iris Ave Mobile, AL	3.0	1.0	1617	$1,300	$0.80	21d	1	0.96mi
817 Hawkins St Mobile, AL	3.0	1.0	1217	$1,200	$0.99	44d	1	0.98mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	44d	1	1.03mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	14d	1	1.04mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	14d	1	1.05mi
200 S Florida St Unit 101 Mobile, AL	2.0	2.0	1150	$1,375	$1.20	21d	1	1.16mi
1566 Dauphin St Unit Back Carriage House Mobile, AL	3.0	1.0	1300	$1,200	$0.92	44d	1	1.22mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	14d	1	1.23mi
418 Durande Dr Mobile, AL	3.0	2.0	1456	$1,350	$0.93	14d	1	1.24mi
129 Shell Road Pl Unit 1043713P Mobile, AL	4.0	2.0	1496	$3,389	$2.27	21d	1	1.25mi
955 Cloverdale Dr Mobile, AL	3.0	1.5	1128	$1,125	$1.00	44d	1	1.42mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	21d	1	1.44mi

Listing history 18 events

1. 2026-06-17
   days on market $84,900 Active 57 DOM
2. 2026-06-16
   days on market $84,900 Active 56 DOM
3. 2026-06-15
   days on market $84,900 Active 55 DOM
4. 2026-06-14
   days on market $84,900 Active 53 DOM
5. 2026-06-13
   days on market $84,900 Active 52 DOM
6. 2026-06-10
   days on market $84,900 Active 50 DOM
7. 2026-06-09
   days on market $84,900 Active 49 DOM
8. 2026-06-08
   days on market $84,900 Active 48 DOM
9. 2026-06-07
   days on market $84,900 Active 47 DOM
10. 2026-06-05
    days on market $84,900 Active 44 DOM
11. 2026-06-03
    days on market $84,900 Active 43 DOM
12. 2026-06-02
    days on market $84,900 Active 42 DOM
13. 2026-06-01
    days on market $84,900 Active 41 DOM
14. 2026-05-31
    days on market $84,900 Active 40 DOM
15. 2026-05-30
    days on market $84,900 Active 39 DOM
16. 2026-05-11
    price $94,900 808-char remark

    Show marketing remark (808 chars)

    Charming and well-maintained 3-bedroom, 2-bath home offering 1,526 square feet—perfect for a first-time homebuyer, those looking to downsize, or investors seeking a solid addition to their rental portfolio. This property features beautiful hardwood flooring throughout and a spacious kitchen with ample countertop and cabinet space, ideal for everyday living and entertaining. Major updates provide peace of mind, with the seller noting the HVAC system is just 1 year old and the roof is approximately 6 years old. The home has been well cared for and includes a handicap-accessible ramp, adding convenience and accessibility. Whether you’re starting out, simplifying your lifestyle, or expanding your investment portfolio, this property is a great opportunity you won’t want to miss!

17. 2026-04-21
    listed $99,900 Active 808-char remark

    Show marketing remark (808 chars)

    Charming and well-maintained 3-bedroom, 2-bath home offering 1,526 square feet—perfect for a first-time homebuyer, those looking to downsize, or investors seeking a solid addition to their rental portfolio. This property features beautiful hardwood flooring throughout and a spacious kitchen with ample countertop and cabinet space, ideal for everyday living and entertaining. Major updates provide peace of mind, with the seller noting the HVAC system is just 1 year old and the roof is approximately 6 years old. The home has been well cared for and includes a handicap-accessible ramp, adding convenience and accessibility. Whether you’re starting out, simplifying your lifestyle, or expanding your investment portfolio, this property is a great opportunity you won’t want to miss!

18. 2015-01-26
    soldstatus $167,000

ⓘ 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: $335 · $28/mo
• Projected year-2 tax: $348 · $29/mo
• Expected delta: +$13/yr (+$1/mo · 3.9%)

ⓘ 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: $18,264
• − Mortgage interest: −$4,756
• − Property taxes: −$335
• − Insurance: −$424
• − Repairs & maintenance: −$1,461
• − Management: −$1,461
• − Depreciation: −$2,470
• Taxable income: $7,357
• Est. tax owed @ 24.0%: −$1,766
• After-tax cash flow: $6,561/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: 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

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 · 246,577 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• Metro: Mobile, 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

-43.2% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $94,900 GCMLS AL
• 2026-04-21 Listed $99,900 GCMLS AL
• 2015-01-26 Sold (Public Records) $167,000 Public Records