2039 Miller St · Montgomery, AL 36107

$55,600

2 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 10 Days on market

Built 1942 7,405 sqft lot Est $55k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.1/15.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This freshly cleaned and move-in ready 2 bedroom, 1 bathroom home is a great opportunity for investors or buyers looking for an affordable personal residence. With an established rental history and several recent updates, this property offers both comfort and peace of mind. Conveniently located within walking distance to Highland Gardens Elementary School, this property offers accessibility and everyday convenience. The interior was refreshed in 2025, and the home includes a refrigerator purchased in 2025, a gas stove purchased in 2024, and a dryer — all of which will remain with the property. Additional improvements include a hot water heater replaced in 2024, a new roof in 2025, and

Key facts

• Recent updates
• Refreshed interior
• Fenced backyard

Tags

• ESTABLISHED RENTAL HISTORY
• RECENT UPDATES
• REFRESHED INTERIOR
• CONVENIENT PANTRY CLOSET
• METAL CARPORT
• FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached carport; 2 carport spaces
• Security: Fire alarm
• Utilities: Cable available; Electricity available; Natural gas available; Public water; Public sewer
• Home design: Single-story home
• Construction: Vinyl siding
• Exterior features: Fully fenced yard; Patio; Storage structure; City lot; Public paved road frontage

Interior

• Kitchen: Gas cooktop; Gas oven; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Blinds and window treatments; Storm windows and storm door(s); Linen closet; Programmable thermostat
• Laundry & utility: Washer hookup; Dryer (unit listed among appliances); Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $56k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $56k).
• Cap rate 15.7% 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 fast (+5.0%/yr); 67 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 37% of the median local income ($32k/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 $384 of loan paydown is wiped out by about $2k 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 + 5.0% rent growth), your $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,600

Questions for the listing agent

1. Built in 1942 — 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. 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.
5. 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.
6. 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: 1.78% ✓
• Cap rate: 15.66%
• Cash-on-cash: 33.45%
• DSCR: 2.49
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $55,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2003 Miller St	0.08mi	2/1.0	1,044 (+2%)	2mo	$54,000	$52	90
3123 Fairground Rd	0.37mi	3/1.0 (+1)	962 (-6%)	2mo	$64,000	$67	66
1945 Gibson St	0.49mi	3/1.0 (+1)	1,045 (+2%)	2mo	$23,000	$22	66
1930 Gibson St	0.47mi	3/2.0 (+1)	1,040 (+2%)	4mo	$63,500	$61	62
1515 Baffin Ct	0.65mi	3/1.0 (+1)	1,025 (+0%)	3mo	$26,000	$25	61
3129 Cabot St	0.44mi	3/2.0 (+1)	1,099 (+8%)	1mo	$17,501	$16	57
1825 Texas Ct	0.39mi	3/1.0 (+1)	925 (-9%)	7mo	$50,000	$54	55
1818 Austin St	0.44mi	3/1.0 (+1)	925 (-9%)	7mo	$66,980	$72	53
3329 Texas St	0.73mi	3/1.0 (+1)	1,000 (-2%)	7mo	$70,000	$70	52
1800 Cotton Ct	0.63mi	3/1.0 (+1)	962 (-6%)	5mo	$62,500	$65	52
1848 Gibson St	0.50mi	3/1.0 (+1)	925 (-9%)	7mo	$50,000	$54	50
3025 Baffin Dr	0.66mi	3/1.0 (+1)	1,146 (+12%)	6mo	$50,000	$44	39

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 2.33×
• Total profit: $20,702
• Equity at exit: $8,290

10-year hold

• IRR: 39.2%
• Equity multiple: 5.01×
• Total profit: $62,488
• Equity at exit: $4,807

Cash invested: $15,568 (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 36107

• Home prices YoY: -10.9%
• Rents YoY: 5.0%
• Active inventory: 67
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $989 high
• Mortgage (P&I): −$292
• Tax from tax record: −$32 /mo · $388/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $434

Break-even live

Break-even rent $439

Max offer price $55,600

Occupancy floor 51%

Sensitivity live

Price	-10% $465	-5% $450	+0% $434	+5% $418	+10% $402
Rent	-10% $356	-5% $395	+0% $434	+5% $473	+10% $512
Rate	-1.0pp $462	-0.5pp $448	base $434	+0.5pp $420	+1.0pp $405

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: $13,900
• Closing costs: $1,668
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2001 Speigle St Montgomery, AL	3.0	1.0	1260	$1,035	$0.82	45d	1	0.11mi
2019 Amos St Montgomery, AL	3.0	1.5	1134	$985	$0.87	45d	1	0.16mi
2056 Midway St Montgomery, AL	3.0	1.0	1110	$985	$0.89	45d	1	0.26mi
2076 Midway St Montgomery, AL	3.0	1.0	1068	$1,000	$0.94	45d	1	0.28mi
2006 Harmon St Unit 3 Montgomery, AL	3.0	1.0	800	$500	$0.62	45d	1	0.30mi
1324 Federal Dr Montgomery, AL	2.0	1.0	1000	$1,100	$1.10	45d	1	0.31mi
2503 Skyline Ave Montgomery, AL	3.0	1.0	1015	$1,150	$1.13	45d	1	0.38mi
3050 Willena Ave Montgomery, AL	3.0	1.0	1466	$985	$0.67	22d	1	0.38mi
1817 Texas Ct Montgomery, AL	3.0	1.0	925	$1,050	$1.14	22d	1	0.41mi
3042 George B Edmondson Dr Montgomery, AL	3.0	1.0	900	$860	$0.96	45d	1	0.62mi
3114 Cotton St Montgomery, AL	3.0	1.0	888	$1,100	$1.24	45d	1	0.63mi
2111 Yarbrough St Montgomery, AL	3.0	1.0	962	$795	$0.83	45d	1	0.63mi
2107 Yarbrough Cir Montgomery, AL	3.0	1.0	910	$925	$1.02	45d	1	0.66mi
3329 Texas St Montgomery, AL	3.0	1.0	1000	$1,100	$1.10	45d	1	0.73mi
3452 Harris St Montgomery, AL	3.0	1.0	1400	$1,150	$0.82	22d	1	0.83mi
1653 N Yarbrough Ct Montgomery, AL	3.0	1.0	1130	$950	$0.84	22d	1	0.86mi
517 N Florida St Unit B Montgomery, AL	2.0	1.0	900	$750	$0.83	45d	1	0.89mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	45d	1	0.90mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	45d	1	0.92mi
298 Broadway St Montgomery, AL	2.0	1.0	896	$900	$1.00	45d	1	0.93mi
218 Broadway St Montgomery, AL	2.0	1.0	960	$895	$0.93	14d	1	0.94mi
424 N California St Apt D Montgomery, AL	2.0	1.0	850	$778	$0.92	22d	1	0.96mi
1024 Grenada Dr Montgomery, AL	3.0	1.0	1144	$1,125	$0.98	45d	1	1.00mi
341 Chisholm St Montgomery, AL	3.0	1.0	756	$1,195	$1.58	22d	1	1.03mi
2009 Yancey Ave Montgomery, AL	3.0	1.0	1140	$1,080	$0.95	22d	1	1.03mi
740 Coliseum Blvd Unit 740A Montgomery, AL	2.0	1.0	1100	$895	$0.81	14d	1	1.04mi
108 Calhoun Rd Unit 108B Montgomery, AL	2.0	1.0	1350	$750	$0.56	45d	1	1.04mi
508 Glenmore Rd Montgomery, AL	2.0	1.0	1135	$1,000	$0.88	45d	1	1.05mi
700 Coliseum Blvd Unit 700D Montgomery, AL	2.0	1.0	911	$895	$0.98	45d	1	1.05mi
2310 Yancey Ave Montgomery, AL	3.0	1.0	1212	$1,250	$1.03	45d	1	1.06mi
216 Gardendale Dr Montgomery, AL	3.0	1.0	900	$850	$0.94	22d	1	1.09mi
2121 Winona Ave Unit 2123 Montgomery, AL	1.0	1.5	828	$995	$1.20	14d	1	1.09mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	22d	1	1.09mi
532 Coliseum Blvd Unit 532C Montgomery, AL	1.0	1.0	811	$850	$1.05	45d	1	1.14mi
2241 Saint Charles Ave Unit 2247 Montgomery, AL	1.0	1.0	915	$1,475	$1.61	45d	1	1.16mi
200 Eton Rd Montgomery, AL	3.0	1.5	1500	$895	$0.60	14d	1	1.18mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	45d	1	1.19mi
186 E Salem Dr Montgomery, AL	3.0	1.0	1040	$1,195	$1.15	22d	1	1.21mi
3613 Erwin Dr Montgomery, AL	3.0	2.0	1092	$1,250	$1.14	45d	1	1.22mi
4029 Chelsea Dr Montgomery, AL	3.0	1.0	1000	$1,200	$1.20	45d	1	1.24mi

Listing history 8 events

1. 2026-06-21
   days on market $55,600 Active 10 DOM
2. 2026-06-18
   days on market $55,600 Active 7 DOM
3. 2026-06-17
   days on market $55,600 Active 6 DOM
4. 2026-06-16
   days on market $55,600 Active 5 DOM
5. 2026-06-15
   days on market $55,600 Active 4 DOM
6. 2026-06-14
   days on market $55,600 Active 2 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   listed $55,600 Active 1 DOM

ⓘ 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: $388 · $32/mo
• Projected year-2 tax: $388 · $32/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 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: $11,864
• − Mortgage interest: −$3,114
• − Property taxes: −$388
• − Insurance: −$278
• − Repairs & maintenance: −$949
• − Management: −$949
• − Depreciation: −$1,617
• Taxable income: $4,568
• Est. tax owed @ 24.0%: −$1,096
• After-tax cash flow: $4,111/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): 8,001
• Household income: $32,492
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 642.0

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 0.69)
• Race & ethnicity: Black 43% White 27% Hispanic / Latino 23% Two or more races 20%
• Hispanic origin (detail): Mexican 8% Cuban 3%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 13%

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: ▼ -18.16%
• Current HPI: 147.8065
• Rent YoY: ▲ 5.05%
• 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

+105.9% since first listed

2 events — show timeline

• 2026-06-11 Listed $55,600 MAAR
• 2015-01-20 Listed $27,000 MAAR

Property tax history

+8.4%/yr

Latest (2025): $388 · +1.5% YoY. Source: county tax records.