6513 GRACE St · Mobile, AL 36618

$42,900

3 bd · 1.0 ba · 860 sqft · SingleFamily public records · 20 Days on market

Built 1950 2.63 ac lot $50/sqft · 62% below area

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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 +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

Key facts

• 2.63 acre lot
• 4 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $42k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.5% 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: 99 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $297 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,256 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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: 2.92% ✓
• Cap rate: 25.50%
• Cash-on-cash: 68.61%
• DSCR: 4.05
• GRM: 2.9

CMA / ARV

• ARV (median comp): $112,824
• List price: $42,900
• Delta: -61.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6756 Victor Rd	0.59mi	3/1.0	864 (+0%)	0mo	$75,000	$87	72
6655 Devander Dr	0.68mi	3/1.0	864 (+0%)	2mo	$105,000	$122	66
1211 Barker Dr E	0.63mi	3/1.0	864 (+0%)	5mo	$16,500	$19	65
6466 Stuardi Ct	0.55mi	3/1.0	864 (+0%)	13mo	$112,500	$130	62
6804 Stinson Ct	0.66mi	3/1.0	864 (+0%)	8mo	$52,000	$60	62
1205 ALETHEA Ave	0.73mi	3/1.0	864 (+0%)	9mo	$60,000	$69	58
6455 Tanner St	0.66mi	3/1.0	864 (+0%)	13mo	$105,000	$122	58
6451 S Barker Dr	0.72mi	3/1.0	866 (+1%)	10mo	$92,000	$106	57
1203 Skipper Dr	0.69mi	3/1.0	864 (+0%)	20mo	$122,500	$142	51
1204 Alethea Dr	0.72mi	3/1.0	864 (+0%)	20mo	$110,000	$127	49
7055 Langdon Dr	0.75mi	3/1.0	864 (+0%)	19mo	$105,000	$122	48
6755 Victor Rd	0.60mi	3/1.0	952 (+11%)	18mo	$149,900	$157	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.1%
• Equity multiple: 4.06×
• Total profit: $36,811
• Equity at exit: $6,397

10-year hold

• IRR: 72.2%
• Equity multiple: 8.37×
• Total profit: $88,471
• Equity at exit: $3,709

Cash invested: $12,012 (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 36618

• Home prices YoY: -22.8%
• Active inventory: 99
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,254 high
• Mortgage (P&I): −$225
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $687

Break-even live

Break-even rent $385

Max offer price $42,900

Occupancy floor 40%

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: $10,725
• Closing costs: $1,287
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1728 Tew Dr Mobile, AL	2.0	1.0	912	$995	$1.09	44d	1	0.35mi
1305 Middle Ring Rd Mobile, AL	3.0	1.0	1100	$1,400	$1.27	44d	1	0.57mi
1253 Athey Rd Mobile, AL	3.0	2.0	1100	$1,500	$1.36	14d	1	0.58mi
6807 Victor Rd Mobile, AL	3.0	1.0	1100	$1,350	$1.23	44d	1	0.65mi
1209 Skipper Dr Mobile, AL	3.0	1.0	864	$1,150	$1.33	21d	1	0.65mi
1165 Barker Dr W Mobile, AL	3.0	1.0	900	$950	$1.06	21d	1	0.72mi
7055 Langdon Dr Mobile, AL	3.0	1.0	864	$1,100	$1.27	44d	1	0.75mi
1255 Amelia Ave Mobile, AL	3.0	1.0	1000	$1,400	$1.40	44d	1	0.77mi
1108 Rhett Dr Mobile, AL	3.0	1.0	864	$1,450	$1.68	44d	1	0.81mi
6725 Zeigler Blvd Mobile, AL	1.0–2.0	1.0	850	$1,282	$1.51	14d	7	1.13mi
5751 Overlook Rd Unit A2 Mobile, AL	2.0	1.0	890	$850	$0.96	21d	1	1.15mi

Listing history 12 events

1. 2026-05-04
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

2. 2026-05-04
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

3. 2026-04-22
   status Active 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

4. 2026-04-22
   status Active 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

5. 2026-02-06
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

6. 2026-02-06
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

7. 2026-02-03
   status Active 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

8. 2026-02-03
   status Active 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

9. 2025-10-21
   status Pending 506-char remark

   Show marketing remark (506 chars)

   Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

10. 2025-10-21
    status Pending 506-char remark

    Show marketing remark (506 chars)

    Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

11. 2025-10-16
    listed $42,900 Active 506-char remark

    Show marketing remark (506 chars)

    Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

12. 2025-10-16
    listed $42,900 Active 506-char remark

    Show marketing remark (506 chars)

    Looking for your next project? This 3 bed, 1 bath cottage sits on a huge corner lot, over 2 acres! It is a great chance to roll up your sleeves and bring this place back to life. No central heat and air, but there is plenty of space and potential to make it shine. Whether you're planning to flip it or rent it out, this one's a solid investment. Home is being sold AS IS. Come check it out and see what you can do with it! Schedule your showing today! Buyer to verify all information during due diligence.

ⓘ 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: $735 · $61/mo
• Projected year-2 tax: $735 · $61/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 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥104°F today · 17 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,051
• − Mortgage interest: −$2,403
• − Property taxes: −$735
• − Insurance: −$214
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$1,248
• Taxable income: $8,042
• Est. tax owed @ 24.0%: −$1,930
• After-tax cash flow: $6,311/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): 17,892
• Household income: $61,550
• Rent vs Own: 24.7% rent · 75.3% own
• Severe rent burden: 542.0

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 (65%)
• Race & ethnicity: Black 65% White 27% Two or more races 3% Asian 3% Hispanic / Latino 2%
• Common ancestry: Slovak 1% Serbian 1% Romanian 0%
• Foreign-born: 4% · Canada, China
• Languages at home: 94% English-only · Spanish 3% Chinese 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: ▼ -64.54%
• Current HPI: 218.7133
• Rent YoY: —
• 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

+0.0% since first listed

12 events — show timeline

• 2026-05-04 Pending — BCAR
• 2026-05-04 Pending — GCMLS AL
• 2026-04-22 Relisted — BCAR
• 2026-04-22 Relisted — GCMLS AL
• 2026-02-06 Pending — GCMLS AL
• 2026-02-06 Pending — BCAR
• 2026-02-03 Relisted — GCMLS AL
• 2026-02-03 Relisted — BCAR
• 2025-10-21 Pending — BCAR
• 2025-10-21 Pending — GCMLS AL
• 2025-10-16 Listed $42,900 GCMLS AL
• 2025-10-16 Listed $42,900 BCAR

Property tax history

+2.5%/yr

Latest (2025): $735 · +6.6% YoY. Source: county tax records.