116 Hobbie Dr · Montgomery, AL 36105

$45,000

3 bd · 2.0 ba · 2,344 sqft · SingleFamily public records · 37 Days on market

Built 1950 $19/sqft · 64% below area ↓ 9% since listing

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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 +3.2/5.0
• 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

LARGE HOUSE FOR THE AREA. SLAB. BRICK AND WOOD SIDING. LIVING ROOM, DINING ROOM, KITCHEN, DEN. DRIVEWAY. PARTIAL FENCE. AS IS - WHERE IS CONDITION, WITH NO WARRANTIES OR CONTINGENCIES. EARNEST MONEY IS 2% OF CONTRACTED PRICE OR 1000, WHICHEVER IS GREATER. CALL AGENT FOR ADDENDUM. CONDITION AND TYPE OF SYSTEMS UNKNOWN.

Key facts

• Parking
• Built 1950
• Listed 37 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Utilities: Unknown (per listing)
• Home design: Single-story; Brick and wood siding construction; Slab foundation
• Construction: Built (year per public records); Brick and wood siding; Slab foundation
• Exterior features: Partial fencing; City lot

Interior

• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms
• Interior features: Carpet and wood flooring; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $788 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.

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: Davis Elementary School (math 2% / reading 12%, grade F, #601 of 627 statewide, top 98%, 509 students, 97% FRL, charter); Bellingrath Middle School (math 0% / reading 12%, grade F, #252 of 257 statewide, top 98%, 607 students, 96% FRL, charter); Lanier Senior High School (math 2% / reading 12%, grade F, #265 of 305 statewide, top 89%, 798 students, 94% FRL) — zoned schools average 95% FRL vs 70% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-13 pts) — the specific schools serving this property underperform the Montgomery County average; the district grade overstates school quality for this exact location.
• Market conditions: 79 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $311 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $39k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1950 — 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: 3.09% ✓
• Cap rate: 27.30%
• Cash-on-cash: 75.02%
• DSCR: 4.34
• GRM: 2.7

CMA / ARV

• ARV (median comp): $126,537
• List price: $45,000
• Delta: -64.44%
• 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
25 Arlington Rd	0.45mi	3/2.0	2,231 (-5%)	0mo	$57,500	$26	70
116 Stuart St	0.11mi	3/3.0	2,486 (+6%)	16mo	$125,000	$50	68
3524 S Perry St	0.67mi	3/2.0	2,314 (-1%)	7mo	$79,900	$35	61
3374 Gilmer Ave	0.61mi	4/2.5 (+1)	2,348 (+0%)	5mo	$56,000	$24	60
3126 Gilmer Ave	0.59mi	3/2.0	2,130 (-9%)	7mo	$39,900	$19	52
27 W Edgemont Ave	0.38mi	4/2.5 (+1)	2,065 (-12%)	8mo	$155,000	$75	49
3396 Gilmer Ave	0.62mi	4/2.0 (+1)	2,249 (-4%)	13mo	$161,000	$72	49
3638 Whiting Ave	0.62mi	3/1.0	2,388 (+2%)	20mo	$22,000	$9	48
338 N Anton Dr	0.32mi	3/2.5	2,657 (+13%)	20mo	$125,000	$47	44
3455 S Perry St	0.58mi	3/2.0	2,026 (-14%)	11mo	$127,000	$63	41
3458 Gilmer Ave	0.71mi	4/3.0 (+1)	2,400 (+2%)	22mo	$101,000	$42	36
3222 S Hull St	0.68mi	4/2.5 (+1)	2,687 (+15%)	21mo	$133,000	$49	19

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: 74.9%
• Equity multiple: 4.40×
• Total profit: $42,898
• Equity at exit: $6,710

10-year hold

• IRR: 78.6%
• Equity multiple: 9.10×
• Total profit: $102,044
• Equity at exit: $3,891

Cash invested: $12,600 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,393 high
• Mortgage (P&I): −$236
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $788

Break-even live

Break-even rent $396

Max offer price $45,000

Occupancy floor 38%

Sensitivity live

Price	-10% $813	-5% $800	+0% $788	+5% $775	+10% $762
Rent	-10% $678	-5% $733	+0% $788	+5% $843	+10% $898
Rate	-1.0pp $810	-0.5pp $799	base $788	+0.5pp $776	+1.0pp $764

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	46d	1	0.54mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	46d	1	0.54mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	23d	1	0.58mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	23d	1	0.74mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	46d	1	0.86mi
3386 Lexington Rd Unit B Montgomery, AL	2.0	1.0	1950	$900	$0.46	23d	1	0.91mi
144 Clanton Ave Montgomery, AL	4.0	2.0	3178	$1,595	$0.50	23d	1	0.95mi
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	46d	1	0.98mi
1314 S Court St Montgomery, AL	2.0	2.0	1650	$1,495	$0.91	16d	1	0.98mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	46d	1	1.02mi
519 Thorn Pl Montgomery, AL	2.0	1.0	1632	$650	$0.40	23d	1	1.05mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	23d	1	1.06mi
22 W Cromwell St Montgomery, AL	4.0	2.0	1645	$1,350	$0.82	23d	1	1.13mi
1020 S Lawrence St Montgomery, AL	2.0	1.0	1711	$2,000	$1.17	16d	1	1.19mi
2655 W Edgemont Ave Montgomery, AL	2.0	2.0	1743	$875	$0.50	46d	1	1.20mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	16d	1	1.23mi
3556 Princeton Rd Montgomery, AL	4.0	2.0	2718	$1,200	$0.44	23d	1	1.36mi
1029 Magnolia Curv Montgomery, AL	3.0	2.5	3134	$2,695	$0.86	16d	1	1.40mi

Listing history 23 events

1. 2026-06-21
   days on market $45,000 Active 37 DOM
2. 2026-06-18
   days on market $45,000 Active 34 DOM
3. 2026-06-17
   days on market $45,000 Active 33 DOM
4. 2026-06-16
   days on market $45,000 Active 32 DOM
5. 2026-06-15
   days on market $45,000 Active 31 DOM
6. 2026-06-14
   days on market $45,000 Active 29 DOM
7. 2026-06-13
   days on market $45,000 Active 28 DOM
8. 2026-06-10
   days on market $45,000 Active 26 DOM
9. 2026-06-09
   days on market $45,000 Active 25 DOM
10. 2026-06-08
    days on market $45,000 Active 24 DOM
11. 2026-06-07
    days on market $45,000 Active 23 DOM
12. 2026-06-03
    days on market $45,000 Active 19 DOM
13. 2026-06-02
    days on market $45,000 Active 18 DOM
14. 2026-06-01
    days on market $45,000 Active 17 DOM
15. 2026-05-31
    days on market $45,000 Active 16 DOM
16. 2026-05-30
    days on market $45,000 Active 15 DOM
17. 2026-04-02
    listed $45,000 Active 459-char remark
18. 2021-02-25
    soldstatus $38,800
19. 2019-06-11
    soldstatus $49,000
20. 2012-03-23
    soldstatus $49,000
21. 2010-04-21
    soldstatus $15,300 319-char remark

    Show marketing remark (319 chars)

    LARGE HOUSE FOR THE AREA. SLAB. BRICK AND WOOD SIDING. LIVING ROOM, DINING ROOM, KITCHEN, DEN. DRIVEWAY. PARTIAL FENCE. AS IS - WHERE IS CONDITION, WITH NO WARRANTIES OR CONTINGENCIES. EARNEST MONEY IS 2% OF CONTRACTED PRICE OR 1000, WHICHEVER IS GREATER. CALL AGENT FOR ADDENDUM. CONDITION AND TYPE OF SYSTEMS UNKNOWN.

22. 2009-12-30
    listed $18,760 319-char remark

    Show marketing remark (319 chars)

    LARGE HOUSE FOR THE AREA. SLAB. BRICK AND WOOD SIDING. LIVING ROOM, DINING ROOM, KITCHEN, DEN. DRIVEWAY. PARTIAL FENCE. AS IS - WHERE IS CONDITION, WITH NO WARRANTIES OR CONTINGENCIES. EARNEST MONEY IS 2% OF CONTRACTED PRICE OR 1000, WHICHEVER IS GREATER. CALL AGENT FOR ADDENDUM. CONDITION AND TYPE OF SYSTEMS UNKNOWN.

23. 2009-09-08
    listed $49,350

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $694 · $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 7/10 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,712
• − Mortgage interest: −$2,521
• − Property taxes: −$694
• − Insurance: −$225
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$1,309
• Taxable income: $9,290
• Est. tax owed @ 24.0%: −$2,230
• After-tax cash flow: $7,223/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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 (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• Rent YoY: —
• 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

-8.8% since first listed

7 events — show timeline

• 2026-04-02 Listed $45,000 MAAR
• 2021-02-25 Sold (Public Records) $38,800 Public Records
• 2019-06-11 Sold (Public Records) $49,000 Public Records
• 2012-03-23 Sold (Public Records) $49,000 Public Records
• 2010-04-21 Sold (MLS) $15,300 MAAR
• 2009-12-30 Listed $18,760 MAAR
• 2009-09-08 Listed $49,350 MAAR

Property tax history

+3.7%/yr

Latest (2025): $694 · +6.9% YoY. Source: county tax records.