655 Shannon St · Mobile, AL 36606

$127,900

2 bd · 1.0 ba · 841 sqft · SingleFamily public records · 6 Days on market

Built 1951 0.29 ac lot

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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 +15.9/30.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming and move-in ready, this adorable cottage offers a surprisingly spacious layout with 2 bedrooms and 1 bathroom. The open-concept design creates a bright, welcoming atmosphere, with the family room flowing seamlessly into the kitchen. The kitchen features a convenient eat-in counter with seating for four, along with all-new appliances, including a dishwasher, microwave, and electric range. Just off the kitchen, you'll find a full laundry room complete with a washer and dryer. Throughout the home, new luxury vinyl plank flooring, while the bathroom features tile flooring, a new tub/shower combination, new toilet, and a new vanity. Both bedrooms are generously sized and can comforta

Key facts

• Open-concept design
• Eat-in counter
• All-new appliances

Tags

• OPEN-CONCEPT DESIGN
• EAT-IN COUNTER
• ALL-NEW APPLIANCES
• FULL LAUNDRY ROOM
• TILE FLOORING
• NEW TUB/SHOWER COMBINATION

Property features AI

Exterior

• Parking: 2 parking spaces; Driveway; Level driveway; Kitchen-level entry
• Utilities: Cable available; Electricity available; Natural gas available; Water available; Electric: Other; Sewer: Other
• Home design: Residential single-family home
• Construction: Built in 1951; Pillar/post/pier foundation; Shingle roof; Other construction materials
• Exterior features: Private yard; Back yard fencing; View

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric range; Microwave; Breakfast bar; White cabinets; Other surface counters; View to family room
• Bedrooms: 2 bedrooms
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9-foot ceilings on the main level; Open view from kitchen to family room; Breakfast bar; White kitchen cabinets; Other surface counters
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $62 ($741/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 $105k (17.8% below list).
• Recommended offer: $105k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: 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: Maryvale Elementary School (math 5% / reading 25%, grade F, #505 of 627 statewide, top 81%, 494 students, 92% 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 93% FRL vs 67% district-wide (26 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 fast (+5.1%/yr); 175 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $884 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $128k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,152 (17.8% below list)

Questions for the listing agent

1. Built in 1951 — 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. 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. 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?
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: 0.82% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $45,414
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2565 Kreitner St	0.13mi	2/1.0	915 (+9%)	8mo	$149,999	$164	73
460 Pinehill Dr	0.38mi	3/1.0 (+1)	864 (+3%)	3mo	$51,500	$60	70
729 Jemison St	0.39mi	2/1.0	863 (+3%)	13mo	$10,000	$12	67
2067 Victory Ct	0.73mi	2/1.0	846 (+1%)	5mo	$44,500	$53	61
461 Pinehill Dr	0.39mi	2/1.0	802 (-5%)	16mo	$59,433	$74	60
731 Jemison St	0.39mi	2/1.0	951 (+13%)	2mo	$75,531	$79	58
419 Crenshaw St	0.65mi	3/1.0 (+1)	872 (+4%)	3mo	$36,000	$41	56
702 Glenwood St	0.62mi	2/1.0	889 (+6%)	7mo	$40,000	$45	56
705 Euclid Ave	0.57mi	2/1.0	805 (-4%)	20mo	$25,000	$31	50
919 Rowell St	0.48mi	2/1.0	932 (+11%)	16mo	$50,000	$54	46
2407 Senator St	0.44mi	3/1.0 (+1)	900 (+7%)	20mo	$25,000	$28	46
2561 Pleasant Valley Rd	0.38mi	3/1.0 (+1)	925 (+10%)	20mo	$90,000	$97	43

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: -11.0%
• Equity multiple: 0.59×
• Total profit: $-14,626
• Equity at exit: $19,070

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $1,623
• Equity at exit: $11,058

Cash invested: $35,812 (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: 175
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,052 high
• Mortgage (P&I): −$671
• Tax from tax record: −$45 /mo · $540/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $62

Break-even live

Break-even rent $973

Max offer price $127,900

Occupancy floor 89%

Sensitivity live

Price	-10% $134	-5% $98	+0% $62	+5% $26	+10% $-11
Rent	-10% $-21	-5% $20	+0% $62	+5% $103	+10% $145
Rate	-1.0pp $126	-0.5pp $94	base $62	+0.5pp $29	+1.0pp $-5

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	45d	1	0.39mi
767 Jemison St Mobile, AL	2.0	1.0	850	$750	$0.88	45d	1	0.43mi
728 Bankhead Pl Mobile, AL	2.0	1.0	810	$675	$0.83	45d	1	0.49mi
461 Magnolia Rd Unit A Mobile, AL	2.0	1.0	989	$825	$0.83	45d	1	0.57mi
442 Cottage Hill Rd Unit 13 Mobile, AL	1.0	1.0	637	$860	$1.35	45d	1	0.60mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	45d	1	0.63mi
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	45d	1	0.64mi
2904 Pleasant Valley Rd Mobile, AL	2.0	1.0	815	$899	$1.10	45d	1	0.76mi
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	45d	1	0.76mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$949	$1.22	15d	9	0.78mi
2901 Pleasant Valley Rd Mobile, AL	1.0	1.0	578	$775	$1.34	45d	1	0.78mi
751 Farnell Ln Mobile, AL	2.0	1.0	1100	$1,400	$1.27	45d	1	0.81mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	15d	1	0.94mi
2425 Nortons Ln Unit C Mobile, AL	2.0	1.0	1050	$1,200	$1.14	45d	1	0.95mi
2425 Nortons Ln Unit D Mobile, AL	2.0	1.0	1050	$1,100	$1.05	15d	1	0.95mi
2859 Brierwood Dr Mobile, AL	3.0	1.0	1057	$1,500	$1.42	15d	1	0.99mi
957 Navco Rd Mobile, AL	2.0	1.5	812	$850	$1.05	23d	1	1.00mi
505 Bel Air Blvd Mobile, AL	1.0–2.0	1.0–2.0	976	$1,274	$1.30	15d	16	1.01mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	45d	1	1.02mi
168 W Collins St Mobile, AL	3.0	1.0	968	$725	$0.75	23d	1	1.10mi
276 S Sage Ave Mobile, AL	1.0–2.0	1.0	850	$1,055	$1.24	45d	1	1.11mi
3171 Pleasant Valley Rd Mobile, AL	2.0	1.0	875	$800	$0.91	45d	1	1.15mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	23d	1	1.20mi
3210 Pleasant Valley Rd Mobile, AL	2.0	1.0	850	$825	$0.97	45d	1	1.23mi
916 Delmar Dr Mobile, AL	3.0	1.0	1100	$1,400	$1.27	15d	1	1.29mi
2161 Homewood St Unit B Mobile, AL	1.0	1.0	600	$1,295	$2.16	23d	1	1.31mi
1302 Navco Rd Mobile, AL	2.0	1.0	1009	$935	$0.93	15d	13	1.37mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	23d	1	1.47mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	45d	2	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $127,900 Active 6 DOM
2. 2026-06-18
   days on market $127,900 Active 3 DOM
3. 2026-06-17
   days on market $127,900 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   pricedays on marketlisting id $127,900 Active 1 DOM
6. 2026-06-08
   days on market $130,000 Active 88 DOM
7. 2026-06-07
   days on market $130,000 Active 87 DOM
8. 2026-06-05
   days on market $130,000 Active 84 DOM
9. 2026-06-03
   days on market $130,000 Active 83 DOM
10. 2026-06-02
    days on market $130,000 Active 82 DOM
11. 2026-06-01
    days on market $130,000 Active 81 DOM
12. 2026-05-31
    days on market $130,000 Active 80 DOM
13. 2026-05-30
    days on market $130,000 Active 79 DOM
14. 2026-05-22
    status Active
15. 2026-04-30
    status Pending
16. 2026-04-28
    price $130,000
17. 2026-02-19
    listed $135,000 Active
18. 2025-08-11
    soldstatus $50,000

ⓘ 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: $540 · $45/mo
• Projected year-2 tax: $540 · $45/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 6 d/yr ≥105°F today · 18 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: $12,618
• − Mortgage interest: −$7,164
• − Property taxes: −$540
• − Insurance: −$640
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$3,721
• Taxable loss: −$1,465
• Est. tax savings @ 24.0%: +$352
• After-tax cash flow: $1,092/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

+155.8% since first listed

3 events — show timeline

• 2026-06-15 Listed $127,900 GCMLS AL
• 2026-04-28 Price Changed $130,000 GCMLS AL
• 2025-08-11 Sold (Public Records) $50,000 Public Records

Property tax history

+0.3%/yr

Latest (2025): $540 · +6.2% YoY. Source: county tax records.