1550 S Lartigue Ave · Mobile, AL 36605

$137,500

3 bd · 1.0 ba · 1,651 sqft · SingleFamily public records · 199 Days on market

Built 1956 0.25 ac lot $83/sqft · 10% below area Est $152k · 10% under

---

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 +29.9/30.0
• ARV discount +11.9/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Best Value on Dauphin Island Parkway. This 3-bedroom, 1.5-bath all-brick home has a fully updated interior: Recent improvements include all new ceramic tile and plank flooring, fresh paint inside and out, new moldings and trim, and fully renovated bathrooms with a tile walk-in shower and new vanities. The eat-in kitchen has been remodeled with new cabinets, a butcher block countertop, stainless steel sink, and a new electric range. Outside, you’ll find a carport for covered parking and a spacious lot with an oak tree to provide some shade from the Alabama sun. In the back there is a large storage room perfect for storing supplies and equipment. 1550 S Lartigue Avenue is conveniently located just minutes from parks and boat ramps on Dog River, 15 minutes from downtown Mobile or Tillman’s Corner, and about 35 minutes to Dauphin Island. Whether you’re looking for an affordable home to live in or a solid rental investment, this property is a smart buy. Schedule a showing today. Buyer to verify all information during due diligence.

Key facts

• New moldings
• Fresh paint inside
• New plank flooring

Tags

• FULLY UPDATED INTERIOR
• NEW CERAMIC TILE FLOORING
• NEW PLANK FLOORING
• FRESH PAINT INSIDE
• FRESH PAINT OUTSIDE
• NEW MOLDINGS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 (+8.3%/yr); 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• At $1,685/mo this rent would consume 46% of the median local household income ($44k/yr) (locally 1521% 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 $951 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 + 8.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $138k implies a 244% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 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 1956 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.23% ✓
• Cap rate: 10.75%
• Cash-on-cash: 15.91%
• DSCR: 1.71
• GRM: 6.8

CMA / ARV

• ARV (median comp): $152,331
• List price: $137,500
• Delta: -9.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1520 Lartigue Ave N	0.07mi	3/2.0	1,774 (+8%)	8mo	$169,000	$95	73
1524 Lois Dr	0.13mi	4/2.0 (+1)	1,792 (+8%)	8mo	$70,000	$39	64
1512 Lartigue Ave N	0.07mi	4/2.0 (+1)	1,550 (-6%)	21mo	$162,000	$105	60
1306 North Dr	0.41mi	3/2.0	1,602 (-3%)	18mo	$164,000	$102	57
2467 Dauphin Island Pkwy	0.60mi	3/1.5	1,488 (-10%)	3mo	$160,000	$108	51
1800 Runnels Rd	0.61mi	3/2.0	1,588 (-4%)	13mo	$170,000	$107	50
1808 Gulfdale Dr	0.57mi	4/2.0 (+1)	1,537 (-7%)	12mo	$215,000	$140	43
3013 Alston Dr	0.66mi	3/2.0	1,736 (+5%)	23mo	$115,000	$66	38
2731 Yorkshire Rd	0.62mi	3/2.0	1,496 (-9%)	24mo	$169,900	$114	32

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.50×
• Total profit: $19,083
• Equity at exit: $20,502

10-year hold

• IRR: 24.2%
• Equity multiple: 3.57×
• Total profit: $98,788
• Equity at exit: $11,888

Cash invested: $38,500 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,685 medium
• Mortgage (P&I): −$721
• Tax from tax record: −$42 /mo · $505/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $511

Break-even live

Break-even rent $1,039

Max offer price $137,500

Occupancy floor 65%

Sensitivity live

Price	-10% $588	-5% $549	+0% $511	+5% $472	+10% $433
Rent	-10% $377	-5% $444	+0% $511	+5% $577	+10% $644
Rate	-1.0pp $580	-0.5pp $545	base $511	+0.5pp $475	+1.0pp $439

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: $34,375
• Closing costs: $4,125
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 Doyle Ave Mobile, AL	3.0	2.0	1518	$1,750	$1.15	14d	1	0.33mi
1854 Jacob Dr Unit Jacob Dr unit Mobile, AL	4.0	2.0	1700	$1,950	$1.15	44d	1	0.68mi
1806 Gill Rd Mobile, AL	3.0	2.0	1360	$1,250	$0.92	21d	1	1.03mi

Listing history 27 events

1. 2026-06-18
   days on market $137,500 Active 199 DOM
2. 2026-06-17
   days on market $137,500 Active 198 DOM
3. 2026-06-16
   days on market $137,500 Active 197 DOM
4. 2026-06-15
   days on market $137,500 Active 196 DOM
5. 2026-06-14
   days on market $137,500 Active 194 DOM
6. 2026-06-13
   days on market $137,500 Active 193 DOM
7. 2026-06-10
   days on market $137,500 Active 191 DOM
8. 2026-06-09
   days on market $137,500 Active 190 DOM
9. 2026-06-08
   days on market $137,500 Active 189 DOM
10. 2026-06-07
    days on market $137,500 Active 188 DOM
11. 2026-06-05
    days on market $137,500 Active 185 DOM
12. 2026-06-03
    days on market $137,500 Active 184 DOM
13. 2026-06-02
    days on market $137,500 Active 183 DOM
14. 2026-06-01
    days on market $137,500 Active 182 DOM
15. 2026-05-31
    days on market $137,500 Active 181 DOM
16. 2026-05-30
    days on market $137,500 Active 180 DOM
17. 2026-04-04
    price $137,500 1060-char remark

    Show marketing remark (1060 chars)

    Best Value on Dauphin Island Parkway. This 3-bedroom, 1.5-bath all-brick home has a fully updated interior: Recent improvements include all new ceramic tile and plank flooring, fresh paint inside and out, new moldings and trim, and fully renovated bathrooms with a tile walk-in shower and new vanities. The eat-in kitchen has been remodeled with new cabinets, a butcher block countertop, stainless steel sink, and a new electric range. Outside, you’ll find a carport for covered parking and a spacious lot with an oak tree to provide some shade from the Alabama sun. In the back there is a large storage room perfect for storing supplies and equipment. 1550 S Lartigue Avenue is conveniently located just minutes from parks and boat ramps on Dog River, 15 minutes from downtown Mobile or Tillman’s Corner, and about 35 minutes to Dauphin Island. Whether you’re looking for an affordable home to live in or a solid rental investment, this property is a smart buy. Schedule a showing today. Buyer to verify all information during due diligence.

18. 2026-02-05
    price $142,500 1060-char remark

    Show marketing remark (1060 chars)

    Best Value on Dauphin Island Parkway. This 3-bedroom, 1.5-bath all-brick home has a fully updated interior: Recent improvements include all new ceramic tile and plank flooring, fresh paint inside and out, new moldings and trim, and fully renovated bathrooms with a tile walk-in shower and new vanities. The eat-in kitchen has been remodeled with new cabinets, a butcher block countertop, stainless steel sink, and a new electric range. Outside, you’ll find a carport for covered parking and a spacious lot with an oak tree to provide some shade from the Alabama sun. In the back there is a large storage room perfect for storing supplies and equipment. 1550 S Lartigue Avenue is conveniently located just minutes from parks and boat ramps on Dog River, 15 minutes from downtown Mobile or Tillman’s Corner, and about 35 minutes to Dauphin Island. Whether you’re looking for an affordable home to live in or a solid rental investment, this property is a smart buy. Schedule a showing today. Buyer to verify all information during due diligence.

19. 2025-11-28
    listed $147,500 Active 1060-char remark

    Show marketing remark (1060 chars)

    Best Value on Dauphin Island Parkway. This 3-bedroom, 1.5-bath all-brick home has a fully updated interior: Recent improvements include all new ceramic tile and plank flooring, fresh paint inside and out, new moldings and trim, and fully renovated bathrooms with a tile walk-in shower and new vanities. The eat-in kitchen has been remodeled with new cabinets, a butcher block countertop, stainless steel sink, and a new electric range. Outside, you’ll find a carport for covered parking and a spacious lot with an oak tree to provide some shade from the Alabama sun. In the back there is a large storage room perfect for storing supplies and equipment. 1550 S Lartigue Avenue is conveniently located just minutes from parks and boat ramps on Dog River, 15 minutes from downtown Mobile or Tillman’s Corner, and about 35 minutes to Dauphin Island. Whether you’re looking for an affordable home to live in or a solid rental investment, this property is a smart buy. Schedule a showing today. Buyer to verify all information during due diligence.

20. 2025-10-17
    price $147,500
21. 2025-09-12
    listed $149,000 Active
22. 2025-06-10
    price $149,000
23. 2024-04-11
    soldstatus $40,000 Closed
24. 2024-04-10
    status Pending
25. 2024-04-03
    status Active
26. 2024-03-27
    status Pending
27. 2024-03-25
    listed $44,000 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: $505 · $42/mo
• Projected year-2 tax: $564 · $47/mo
• Expected delta: +$58/yr (+$5/mo · 11.5%)

ⓘ 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 10/10 Extreme 7 d/yr ≥105°F today · 22 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: $20,217
• − Mortgage interest: −$7,702
• − Property taxes: −$505
• − Insurance: −$688
• − Repairs & maintenance: −$1,617
• − Management: −$1,617
• − Depreciation: −$4,000
• Taxable income: $4,088
• Est. tax owed @ 24.0%: −$981
• After-tax cash flow: $5,145/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

+212.5% since first listed

11 events — show timeline

• 2026-04-04 Price Changed $137,500 BCAR
• 2026-02-05 Price Changed $142,500 BCAR
• 2025-11-28 Listed $147,500 BCAR
• 2025-10-17 Price Changed $147,500 BCAR
• 2025-09-12 Listed $149,000 BCAR
• 2025-06-10 Price Changed $149,000 GCMLS AL
• 2024-04-11 Sold (MLS) $40,000 GCMLS AL
• 2024-04-10 Pending — GCMLS AL
• 2024-04-03 Relisted — GCMLS AL
• 2024-03-27 Pending — GCMLS AL
• 2024-03-25 Listed $44,000 GCMLS AL

Property tax history

-6.1%/yr

Latest (2025): $505 · +298.0% YoY. Source: county tax records.