2829 Shenandoah Dr · Montgomery, AL 36116

$84,900

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 55 Days on market

Built 1979 9,147 sqft lot $85/sqft · 14% below area Est $98k · 14% under

---

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
• ARV discount +13.6/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors!! don't miss out this great rental property, it's move in ready and currently leased for $750. come and check out this 3 bedroom, 1 bath on 1000 sqft. more picture to come soon.

Key facts

• 9,147 sq ft lot
• Built 1979
• Listed 55 days

Property features AI

Finance

• Other: Parcel ID available; Lot size approximately 0.21 acres
• Financial info: Has down payment assistance
• HOA & community: No association fee

Exterior

• Parking: Driveway parking
• Utilities: Public water; Water heater: Electric and Gas options; Internet service available
• Home design: Single-story layout (rooms listed at main level); Existing structure; Wood construction
• Construction: Wood construction; Slab foundation
• Exterior features: Garden/Patio present; No pool; No deck; Not waterfront; Lot view: No; Flood plain: No

Interior

• Kitchen: Solid surface countertops; Built-in dishwasher
• Bedrooms: Master bedroom on main level (approx. 13'6" x 12'2"); Second bedroom on main level (approx. 10'0" x 12'2"); Third bedroom on main level (approx. 8'11" x 12'2")
• Flooring: Hardwood
• Bathrooms: One full bathroom with garden tub
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Hardwood floors; One fireplace (electric/gas insert) in the family room; Ceilings: Other (see remarks); No additional interior features listed
• Laundry & utility: Laundry on main level in a closet; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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: employment D, crime F, amenities D-.
• 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.
• Zoned schools: Fitzpatrick Elementary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 363 students, 95% FRL); Jefferson Davis High School (math 3% / reading 16%, grade F, #258 of 305 statewide, top 85%, 1,522 students, 83% FRL) — zoned schools average 89% FRL vs 70% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.7%/yr); 293 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $587 of loan paydown is wiped out by about $3k 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 + 5.7% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 25y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.34% ✓
• Cap rate: 11.38%
• Cash-on-cash: 18.16%
• DSCR: 1.81
• GRM: 6.2

CMA / ARV

• ARV (median comp): $98,299
• List price: $84,900
• Delta: -13.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2840 Shenandoah Dr	0.05mi	3/1.0	1,040 (+4%)	12mo	$65,000	$63	81
3012 Fredericksburg Dr	0.20mi	3/2.0	1,080 (+8%)	1mo	$107,000	$99	72
2961 Moorcroft Dr	0.46mi	3/1.5	1,040 (+4%)	3mo	$80,000	$77	68
4651 Virginia Loop Rd	0.55mi	3/1.0	1,025 (+2%)	15mo	$77,500	$76	58
3135 Dobbs Dr	0.60mi	3/1.5	1,067 (+7%)	4mo	$107,000	$100	56
4639 Virginia Loop Rd	0.51mi	3/1.0	1,096 (+10%)	19mo	$30,000	$27	44

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 · 5.65% rent growth · sell at horizon

5-year hold

• IRR: 12.6%
• Equity multiple: 1.52×
• Total profit: $12,252
• Equity at exit: $12,659

10-year hold

• IRR: 23.4%
• Equity multiple: 3.25×
• Total profit: $53,603
• Equity at exit: $7,341

Cash invested: $23,772 (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 36116

• Home prices YoY: -9.7%
• Rents YoY: 5.7%
• Active inventory: 293
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$445
• Tax from tax record: −$58 /mo · $696/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $360

Break-even live

Break-even rent $682

Max offer price $84,900

Occupancy floor 63%

Sensitivity live

Price	-10% $408	-5% $384	+0% $360	+5% $336	+10% $312
Rent	-10% $270	-5% $315	+0% $360	+5% $405	+10% $450
Rate	-1.0pp $402	-0.5pp $381	base $360	+0.5pp $338	+1.0pp $315

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3110 Virginia Downs Montgomery, AL	2.0	2.0	1068	$800	$0.75	44d	1	0.10mi
3220 Virginia Downs Montgomery, AL	3.0	2.0	1215	$900	$0.74	44d	1	0.22mi
3248 Meadow Walk Ln Montgomery, AL	3.0	2.0	1114	$1,200	$1.08	44d	1	0.25mi
4604 Virginia Loop Rd Montgomery, AL	1.0–2.0	1.0–2.0	810	$895	$1.10	44d	1	0.35mi
3231 Virginia Pines Ln Montgomery, AL	2.0	2.0	1068	$800	$0.75	44d	1	0.41mi
3240 Virginia Pines Ln Montgomery, AL	3.0	2.0	1215	$900	$0.74	44d	1	0.43mi
4611 Virginia Loop Rd Montgomery, AL	3.0	1.0	1029	$1,195	$1.16	21d	1	0.44mi
4220 Strathmore Dr Montgomery, AL	1.0–3.0	1.0–2.0	931	$1,099	$1.18	44d	1	0.44mi
4025 Edge Hill Ln Montgomery, AL	3.0	2.0	1154	$1,350	$1.17	14d	1	0.46mi
2699 Whispering Pine Dr Montgomery, AL	4.0	2.0	1500	$1,500	$1.00	14d	1	0.68mi
3855 Woodley Rd Montgomery, AL	4.0	2.0	1450	$1,450	$1.00	44d	1	0.88mi
3580 McGehee Pl Dr S Montgomery, AL	3.0	2.0	1200	$1,205	$1.00	44d	1	0.95mi
5800 Eagle Cir Montgomery, AL	1.0–3.0	1.0–2.0	1000	$1,051	$1.05	44d	1	0.97mi
3388 McGehee Rd Unit B Montgomery, AL	2.0	2.0	900	$545	$0.61	21d	1	1.02mi
2619 Brantford Pl Montgomery, AL	3.0	2.0	1323	$1,200	$0.91	44d	1	1.04mi
3380 McGehee Rd Montgomery, AL	3.0	2.0	1000	$650	$0.65	14d	1	1.08mi
3638 Castle Ridge Rd Montgomery, AL	3.0	2.0	1100	$800	$0.73	14d	1	1.10mi
5917 Cherry Hill Rd Montgomery, AL	4.0	2.0	1161	$1,450	$1.25	14d	1	1.22mi
2651 Clement Curv Montgomery, AL	3.0	2.0	1402	$1,550	$1.11	21d	1	1.26mi
3364 Fountain Ln Montgomery, AL	1.0–3.0	1.0–2.5	1221	$1,099	$0.90	44d	1	1.37mi
6028 Oakleigh Rd Montgomery, AL	3.0	2.0	1105	$850	$0.77	44d	1	1.40mi
2401 Overhill Rd Montgomery, AL	3.0	1.0	999	$700	$0.70	21d	1	1.41mi
5931 Singleton St Montgomery, AL	3.0	2.5	1302	$695	$0.53	44d	1	1.42mi
6061 Briarhurst Dr Montgomery, AL	3.0	2.0	1124	$1,075	$0.96	44d	1	1.44mi
4590 Troy Hwy Montgomery, AL	2.0–3.0	2.0	1330	$1,299	$0.98	14d	1	1.50mi

Listing history 25 events

1. 2026-06-18
   days on market $84,900 Active 55 DOM
2. 2026-06-17
   days on market $84,900 Active 54 DOM
3. 2026-06-16
   days on market $84,900 Active 53 DOM
4. 2026-06-15
   days on market $84,900 Active 52 DOM
5. 2026-06-14
   days on market $84,900 Active 50 DOM
6. 2026-06-13
   days on market $84,900 Active 49 DOM
7. 2026-06-10
   days on market $84,900 Active 47 DOM
8. 2026-06-09
   days on market $84,900 Active 46 DOM
9. 2026-06-08
   days on market $84,900 Active 45 DOM
10. 2026-06-07
    pricedays on market $84,900 Active 44 DOM
11. 2026-06-03
    days on market $89,900 Active 40 DOM
12. 2026-06-02
    days on market $89,900 Active 39 DOM
13. 2026-06-01
    days on market $89,900 Active 38 DOM
14. 2026-05-31
    days on market $89,900 Active 37 DOM
15. 2026-05-30
    days on market $89,900 Active 36 DOM
16. 2026-04-24
    listed $89,900 Active 781-char remark
17. 2024-09-03
    soldstatus $2,012,400
18. 2022-05-13
    soldstatus $62,000
19. 2022-05-10
    soldstatus $62,000 197-char remark

    Show marketing remark (197 chars)

    Attention Investors!! don't miss out this great rental property, it's move in ready and currently leased for $750. come and check out this 3 bedroom, 1 bath on 1000 sqft. more picture to come soon.

20. 2022-03-25
    listed $74,500 197-char remark

    Show marketing remark (197 chars)

    Attention Investors!! don't miss out this great rental property, it's move in ready and currently leased for $750. come and check out this 3 bedroom, 1 bath on 1000 sqft. more picture to come soon.

21. 2019-11-15
    listed $49,900
22. 2010-09-08
    soldstatus $19,500
23. 2010-05-19
    listed $25,500
24. 2002-03-12
    soldstatus $44,732
25. 2001-11-06
    listed $49,900

ⓘ 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: $696 · $58/mo
• Projected year-2 tax: $696 · $58/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 8/10 Severe 7 d/yr ≥108°F today · 20 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,646
• − Mortgage interest: −$4,756
• − Property taxes: −$696
• − Insurance: −$424
• − Repairs & maintenance: −$1,092
• − Management: −$1,092
• − Depreciation: −$2,470
• Taxable income: $3,116
• Est. tax owed @ 24.0%: −$748
• After-tax cash flow: $3,569/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): 45,250
• Household income: $55,160
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2786.0

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: Predominantly Black (80%)
• Race & ethnicity: Black 80% White 12% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Korean 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: ▼ -16.31%
• Current HPI: 151.8598
• Rent YoY: ▲ 5.65%
• 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

+70.1% since first listed

11 events — show timeline

• 2026-06-06 Price Changed $84,900 Greater Alabama MLS
• 2026-04-24 Listed $89,900 Greater Alabama MLS
• 2024-09-03 Sold (Public Records) $2,012,400 Public Records
• 2022-05-13 Sold (Public Records) $62,000 Public Records
• 2022-05-10 Sold (MLS) $62,000 MAAR
• 2022-03-25 Listed $74,500 MAAR
• 2019-11-15 Listed $49,900 MAAR
• 2010-09-08 Sold (MLS) $19,500 MAAR
• 2010-05-19 Listed $25,500 MAAR
• 2002-03-12 Sold (MLS) $44,732 MAAR
• 2001-11-06 Listed $49,900 MAAR

Property tax history

+8.9%/yr

Latest (2025): $696 · +4.5% YoY. Source: county tax records.