161 State St Unit A · Mobile, AL 36603

$199,900

2 bd · 1.5 ba · 1,155 sqft · Condo · 50 Days on market

Built 1830 Good condition $173/sqft · 16% below area Est $237k · 16% under $450/mo HOA · 28% of rent

---

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).

• ARV discount +14.5/15.0
• Appreciation +5.7/10.0
• Condition / age +4.0/5.0
• Cash flow +3.8/30.0
• Livability +3.8/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Schools +0.8/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to effortless downtown living in the heart of DeTonti Square Historic District—one of Mobile’s most charming and rapidly revitalizing areas. Under $200,000! This beautifully remodeled historic condo blends classic character with modern upgrades, offering the best of both worlds. Located in a quaint 4-unit building, this lower-level Unit A provides easy access and low-maintenance living in an unbeatable location. From the moment you step inside, you’ll notice the attention to detail.

Key facts

• 4-unit building
• Lower-level unit a
• Ceramic tile

Tags

• REMODELED HISTORIC CONDO
• 4-UNIT BUILDING
• LOWER-LEVEL UNIT A
• LUXURY VINYL PLANK FLOORING
• CERAMIC TILE
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $55k (72.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (20.6% below list).
• Recommended offer: $55k (72.6% below list) — sets the bar for cash-flow.
• Cap rate 2.8% vs local median 5.3% in Mobile — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Florence Howard Elementary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 488 students, 94% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% FRL); Ben C Rain High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 589 students, 90% 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 8% at this address vs 27% district-wide (-19 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 52 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 $1,588/mo this rent would consume 70% of the median local household income ($27k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.3% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 28% of rent; built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $54,700 (72.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 73% concession, seller financing, or rate buy-down credit?
3. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.79% ✗
• Cap rate: 2.83%
• Cash-on-cash: -12.37%
• DSCR: 0.45
• GRM: 10.5

CMA / ARV

• ARV (median comp): $236,707
• List price: $199,900
• Delta: -15.55%
• 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
161 State St Unit B	0.00mi	2/2.0	1,155 (0%)	0mo	$195,000	$169	98
308 St Louis St #116	0.18mi	1/1.0 (-1)	1,230 (+6%)	4mo	$248,000	$202	70
1150 Old Shell Rd	1.12mi	2/1.0	1,135 (-2%)	0mo	$185,000	$163	60
952 Elmira St	1.34mi	2/1.5	1,203 (+4%)	2mo	$255,000	$212	56
912 Charleston St	1.05mi	1/2.0 (-1)	1,144 (-1%)	2mo	$245,000	$214	54
204 Conti St Unit 1B	0.34mi	1/1.0 (-1)	955 (-17%)	5mo	$210,000	$220	48
501 Dauphin St St Unit E	0.46mi	2/3.0	1,397 (+21%)	1mo	$385,750	$276	46
350 Charles St	1.25mi	2/2.0	1,256 (+9%)	4mo	$345,000	$275	45
259 Warren St N	0.46mi	3/1.0 (+1)	1,360 (+18%)	4mo	$135,000	$99	44
55 N Warren St #1	0.56mi	1/1.5 (-1)	1,400 (+21%)	4mo	$226,500	$162	40
261 Gaston St	1.05mi	2/1.0	882 (-24%)	2mo	$78,000	$88	36
14 Julia St N	1.47mi	1/1.0 (-1)	990 (-14%)	2mo	$195,000	$197	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: -0.01×
• Total profit: $-56,447
• Equity at exit: $71,607

10-year hold

• IRR: -12.1%
• Equity multiple: -0.57×
• Total profit: $-87,676
• Equity at exit: $97,817

Cash invested: $55,972 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36603

• Home prices YoY: 2.8%
• Active inventory: 52
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$450
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-1,003

Break-even live

Break-even rent $2,858

Max offer price $54,700

Occupancy floor —

Sensitivity live

Price	-10% $-865	-5% $-934	+0% $-1,003	+5% $-1,073	+10% $-1,142
Rent	-10% $-1,129	-5% $-1,066	+0% $-1,003	+5% $-941	+10% $-878
Rate	-1.0pp $-903	-0.5pp $-953	base $-1,003	+0.5pp $-1,055	+1.0pp $-1,108

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: $49,975
• Closing costs: $5,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
316 Jackson St Chickasaw, AL	3.0	1.0	1291	$1,100	$0.85	1d	1	0.24mi
430 Saint Louis St Mobile, AL	2.0	2.0	1017	$2,045	$2.01	10d	2	0.30mi
204 Conti St Unit 1A Mobile, AL	1.0	1.0	1200	$2,000	$1.67	184d	1	0.30mi
0 Dauphin St Mobile, AL	2.0	1.0	864	$2,450	$2.84	51d	1	0.31mi
412 Dauphin St Mobile, AL	2.0	1.0–2.5	1553	$2,350	$1.51	154d	2	0.36mi
505 Saint Francis St Mobile, AL	3.0	2.0	1384	$2,250	$1.63	10d	1	0.42mi
459 Dauphin St Apt D Mobile, AL	2.0	2.0	1200	$1,595	$1.33	10d	1	0.42mi
558 Saint Francis St Unit 2D Mobile, AL	1.0	1.0	1150	$1,550	$1.35	184d	1	0.47mi
110 S Dearborn St Apt 3 Mobile, AL	1.0	1.5	800	$1,095	$1.37	10d	1	0.66mi
921 Dauphin St Unit 2C Mobile, AL	1.0	1.0	743	$1,650	$2.22	31d	1	0.93mi
956 Conti St Unit A Mobile, AL	2.0	1.0	720	$1,300	$1.81	51d	1	1.06mi
158 Kennedy St Mobile, AL	1.0	1.0	775	$775	$1.00	16d	1	1.06mi
1108 Oak St Unit 5 Mobile, AL	2.0	1.0	870	$795	$0.91	10d	1	1.09mi
1155 New Saint Francis St Unit 1 Mobile, AL	2.0	1.0	1300	$1,000	$0.77	1d	1	1.16mi
410 S Washington Ave Mobile, AL	1.0–2.0	1.0	818	$1,017	$1.24	0d	4	1.16mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	162d	1	1.22mi
1254 Old Shell Rd Mobile, AL	1.0–2.0	1.0	660	$1,040	$1.58	2d	6	1.25mi
1304 Hercules St Unit 1306 Mobile, AL	1.0	1.0	850	$775	$0.91	2d	1	1.28mi
57 N Ann St Unit 1043547P Mobile, AL	1.0–7.0	1.0–5.0	1092	$3,984	$3.65	2d	3	1.35mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,527	$1.78	2d	1	1.39mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	162d	1	1.40mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	10d	2	1.41mi
262 Roper St Unit A Mobile, AL	2.0	1.5	1455	$1,600	$1.10	10d	1	1.44mi
1160 Elmira St Apt 10 Mobile, AL	2.0	1.0	950	$1,200	$1.26	14d	1	1.47mi

HOA detail $450/mo · $5,400/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $199,900 Active 50 DOM
2. 2026-11-07
   days on market $199,900 Active 49 DOM
3. 2026-11-06
   days on market $199,900 Active 48 DOM
4. 2026-11-05
   days on market $199,900 Active 47 DOM
5. 2026-11-04
   days on market $199,900 Active 46 DOM
6. 2026-11-02
   days on market $199,900 Active 44 DOM
7. 2026-11-01
   days on market $199,900 Active 43 DOM
8. 2026-10-31
   days on market $199,900 Active 42 DOM
9. 2026-10-30
   days on market $199,900 Active 41 DOM
10. 2026-10-29
    days on market $199,900 Active 40 DOM
11. 2026-10-28
    days on market $199,900 Active 39 DOM
12. 2026-10-27
    days on market $199,900 Active 38 DOM
13. 2026-10-26
    days on market $199,900 Active 37 DOM
14. 2026-10-25
    days on market $199,900 Active 36 DOM
15. 2026-10-24
    days on market $199,900 Active 35 DOM
16. 2026-10-23
    days on market $199,900 Active 34 DOM
17. 2026-10-22
    days on market $199,900 Active 33 DOM
18. 2026-10-21
    days on market $199,900 Active 32 DOM
19. 2026-10-21
    price $199,900 Active 31 DOM
20. 2026-10-20
    days on market $209,900 Active 31 DOM
21. 2026-10-19
    days on market $209,900 Active 30 DOM
22. 2026-10-18
    days on market $209,900 Active 29 DOM
23. 2026-10-17
    days on market $209,900 Active 28 DOM
24. 2026-10-16
    days on market $209,900 Active 27 DOM
25. 2026-10-15
    days on market $209,900 Active 26 DOM
26. 2026-10-14
    days on market $209,900 Active 25 DOM
27. 2026-10-13
    days on market $209,900 Active 24 DOM
28. 2026-10-12
    days on market $209,900 Active 23 DOM
29. 2026-10-11
    days on market $209,900 Active 22 DOM
30. 2026-10-10
    days on market $209,900 Active 21 DOM
31. 2026-10-09
    days on market $209,900 Active 20 DOM
32. 2026-10-08
    days on market $209,900 Active 19 DOM
33. 2026-10-07
    days on market $209,900 Active 18 DOM
34. 2026-10-06
    days on market $209,900 Active 17 DOM
35. 2026-10-05
    days on market $209,900 Active 16 DOM
36. 2026-10-04
    days on market $209,900 Active 15 DOM
37. 2026-10-03
    days on market $209,900 Active 14 DOM
38. 2026-10-02
    days on market $209,900 Active 13 DOM
39. 2026-10-01
    days on market $209,900 Active 12 DOM
40. 2026-09-30
    days on market $209,900 Active 11 DOM
41. 2026-09-29
    days on market $209,900 Active 10 DOM
42. 2026-09-28
    days on market $209,900 Active 9 DOM
43. 2026-09-27
    days on market $209,900 Active 8 DOM
44. 2026-09-26
    days on market $209,900 Active 7 DOM
45. 2026-09-26
    status $209,900 Active 6 DOM
46. 2026-06-25
    statusdays on market $209,900 Pending 6 DOM
47. 2026-06-23
    days on market $209,900 Active 5 DOM
48. 2026-06-21
    days on market $209,900 Active 4 DOM
49. 2026-06-17
    remarks 675-char remark
50. 2026-06-17
    listed $209,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $19,057
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$6,118
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − HOA: −$5,400
• − Depreciation: −$5,815
• Taxable loss: −$15,522
• Est. tax savings @ 24.0%: +$3,725
• After-tax cash flow: $-8,316/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,775–$17,325 screening

This beautifully remodeled historic condo in the heart of DeTonti Square Historic District offers a blend of classic character and modern upgrades, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and property value ↑
• Both Painting exterior — Fresh paint can improve curb appeal and property value ↑
• Both Landscaping and curb appeal — Improves property value and attracts potential buyers ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 8/100

Zoned Schools

Elementary Florence Howard Elementary School F AL #536/627 Nat'l #37,719/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Ben C Rain High School F AL #291/305 Nat'l #17,145/17,239

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

B Composite livability gradescore 75/100

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 · 415,303 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 7,805
• Household income: $27,083
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 15% of renters

---

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 (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Languages at home: 99% English-only · Spanish 1%

---

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: ▲ 1.32%
• Current HPI: 48.9551
• 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