2832 S Colonial Dr · Montgomery, AL 36111

$195,000

4 bd · 2.0 ba · 2,422 sqft · SingleFamily public records · 20 Days on market

Built 1960 0.46 ac lot Est $225k · 13% under

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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 +16.1/30.0
• ARV discount +13.5/15.0
• DSCR +5.0/10.0
• 1% rule +3.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4BR updated and renovated brick ranch home is move-in ready! Most updated home in area. .. .large family room with updated kitchen and both bathrooms. 2,571 sq. ft. Four bedrooms/two bathroom or use one for large home office - ceiling fans in every room. Includes washer and dryer, two refrigerators, microwave and many other unique amenities. Spacious heated greenhouse (170 sq/ft), large multi-level storage barn & workshop onsite (256 sq/ft), large palm trees throughout property. Large deck in backyard ready for entertainment or grilling with covered area for sun/rain protection. Plant lovers dream with flower beds positioned across parcel. Well groomed fenced lawn w/ st. augustine grass perfect for furry friends. Well maintained by retired USAF officer since 1971. Large deck in backyard ready for entertainment or grilling with covered area for sun/rain protection.

Key facts

• Oversized bonus room
• Greenhouse
• Expansive deck

Tags

• OVERSIZED BONUS ROOM
• EXPANSIVE DECK
• GREENHOUSE
• TWO STORY FLEX BUILDING

Property features AI

Exterior

• Parking: Attached carport (1 car)
• Security: Fire alarm
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story brick home; Built per public records; Slab foundation
• Construction: Brick construction
• Exterior features: Deck; Fully fenced yard; Workshop / outbuilding; City lot in a subdivision; Public paved road frontage

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Disposal
• Bedrooms: Three bedrooms on the first floor
• Flooring: Carpet; Tile; Wood
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Blinds and double-pane windows; Window treatments; Programmable thermostat; Gas log fireplace (one)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/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 $162k (16.9% below list).
• Recommended offer: $162k (16.9% below list) — sets the bar for 1% rule.

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: 110 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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.
• Current owner paid $138k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,136 (16.9% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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?
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: 0.83% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $225,246
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2554 Churchill Dr	0.33mi	4/2.0	2,418 (-0%)	3mo	$225,000	$93	82
2721 S Colonial Dr	0.26mi	3/3.0 (-1)	2,464 (+2%)	2mo	$185,000	$75	74
2722 Fairmont Rd	0.17mi	4/3.0	2,125 (-12%)	1mo	$80,000	$38	67
2746 Fairmont Rd	0.14mi	3/2.0 (-1)	2,095 (-14%)	4mo	$165,000	$79	63
2775 Fairmont Rd	0.19mi	5/3.0 (+1)	2,606 (+8%)	9mo	$205,990	$79	62
2454 Hawthorn Dr	0.58mi	3/2.0 (-1)	2,349 (-3%)	3mo	$329,500	$140	61
2484 Hawthorn Dr	0.57mi	3/2.5 (-1)	2,495 (+3%)	4mo	$325,000	$130	58
3858 Antoinette Dr	0.43mi	4/2.0	2,168 (-10%)	5mo	$125,000	$58	58
2801 Crawford St	0.68mi	4/3.0	2,564 (+6%)	1mo	$260,000	$101	54
2722 Oxford Dr	0.42mi	3/2.0 (-1)	2,166 (-11%)	7mo	$189,500	$87	52
3741 Lockwood Ln	0.71mi	4/3.5	2,580 (+6%)	4mo	$445,000	$172	47
3383 Warrenton Rd	0.74mi	4/3.0	2,274 (-6%)	6mo	$255,000	$112	46

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: -12.9%
• Equity multiple: 0.54×
• Total profit: $-25,342
• Equity at exit: $29,075

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-14,227
• Equity at exit: $16,860

Cash invested: $54,600 (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 36111

• Home prices YoY: -6.9%
• Active inventory: 110
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $99

Break-even live

Break-even rent $1,495

Max offer price $195,000

Occupancy floor 89%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2716 Ashlawn Dr Montgomery, AL	4.0	3.0	2829	$1,600	$0.57	21d	1	0.07mi
2633 Ashlawn Dr Montgomery, AL	5.0	2.0	1681	$1,600	$0.95	44d	1	0.25mi
3001 Sutton Dr Montgomery, AL	3.0	3.0	2298	$1,750	$0.76	44d	1	0.26mi
2656 Fisk Rd Montgomery, AL	4.0	2.0	1584	$1,400	$0.88	44d	1	0.31mi
2198 Beverly Dr Montgomery, AL	4.0	2.5	2476	$1,495	$0.60	44d	1	0.47mi
3050 Bryn Mawr Rd Montgomery, AL	3.0	2.0	2290	$1,500	$0.66	44d	1	0.50mi
3120 Guymar Rd Montgomery, AL	5.0	2.0	2088	$1,750	$0.84	21d	1	0.52mi
2440 Price St Unit C Montgomery, AL	3.0	2.0	1800	$1,050	$0.58	44d	1	0.59mi
3332 Allendale Pl Montgomery, AL	3.0	2.0	2741	$2,250	$0.82	14d	1	0.88mi
3252 Cheltenham Dr Montgomery, AL	3.0	2.0	1705	$1,200	$0.70	44d	1	0.95mi
1434 E Audubon Rd Montgomery, AL	4.0	2.0	2237	$1,475	$0.66	44d	1	0.97mi
2724 Forsyth Ln Montgomery, AL	4.0	2.0	1794	$1,400	$0.78	44d	1	0.98mi
1437 Beaumont Dr Montgomery, AL	4.0	2.0	2029	$1,500	$0.74	44d	1	1.03mi
2724 Endicott Dr Montgomery, AL	5.0	4.0	1857	$1,750	$0.94	44d	1	1.09mi
1388 Adrian Ln Montgomery, AL	5.0	2.0	1701	$1,600	$0.94	14d	1	1.15mi
1067 Roslyn Dr Montgomery, AL	4.0	2.0	1760	$1,125	$0.64	21d	1	1.16mi
1355 Buckingham Dr Montgomery, AL	4.0	2.0	1620	$1,650	$1.02	14d	1	1.17mi
2988 Old Farm Rd Montgomery, AL	3.0	2.5	2314	$1,900	$0.82	44d	1	1.28mi
2983 Old Farm Rd Montgomery, AL	3.0	2.0	2000	$1,725	$0.86	21d	1	1.29mi
2929 Canterbury Ct Unit 1043474P Montgomery, AL	4.0	2.5	2464	$2,667	$1.08	21d	1	1.32mi
3352 Ridgefield Dr Montgomery, AL	3.0	2.0	1932	$1,761	$0.91	21d	1	1.42mi
3510 Bankhead Ave Montgomery, AL	3.0	3.0	2210	$2,250	$1.02	44d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $195,000 Active 20 DOM
2. 2026-06-17
   days on market $195,000 Active 19 DOM
3. 2026-06-16
   days on market $195,000 Active 18 DOM
4. 2026-06-15
   days on market $195,000 Active 17 DOM
5. 2026-06-14
   days on market $195,000 Active 15 DOM
6. 2026-06-13
   days on market $195,000 Active 14 DOM
7. 2026-06-10
   days on market $195,000 Active 12 DOM
8. 2026-06-09
   days on market $195,000 Active 11 DOM
9. 2026-06-08
   days on market $195,000 Active 10 DOM
10. 2026-06-07
    days on market $195,000 Active 9 DOM
11. 2026-06-03
    days on market $195,000 Active 5 DOM
12. 2026-06-02
    days on market $195,000 Active 4 DOM
13. 2026-06-01
    days on market $195,000 Active 3 DOM
14. 2026-05-31
    days on market $195,000 Active 2 DOM
15. 2026-05-30
    remarks 699-char remark
16. 2026-05-30
    listed $195,000 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: $931 · $78/mo
• Projected year-2 tax: $931 · $78/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 7/10 Severe 7 d/yr ≥108°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $19,456
• − Mortgage interest: −$10,923
• − Property taxes: −$931
• − Insurance: −$975
• − Repairs & maintenance: −$1,557
• − Management: −$1,557
• − Depreciation: −$5,673
• Taxable loss: −$2,158
• Est. tax savings @ 24.0%: +$518
• After-tax cash flow: $1,711/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
• City population: 175,913
• Population (ZIP): 12,196

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 34% Asian 3% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Chinese 1%

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: ▼ -11.63%
• Current HPI: 156.4412
• Rent YoY: —
• Metro: —
• 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

+30.1% since first listed

4 events — show timeline

• 2026-05-29 Listed $195,000 MAAR
• 2018-09-19 Sold (Public Records) $138,000 Public Records
• 2018-09-13 Sold (MLS) $138,000 MAAR
• 2018-07-15 Listed $149,900 MAAR

Property tax history

+7.7%/yr

Latest (2025): $931 · +3.1% YoY. Source: county tax records.