2255 Pratt Dr · Mobile, AL 36605

$110,000

2 bd · 1.0 ba · 1,334 sqft · SingleFamily public records · 45 Days on market

Built 1962 0.58 ac lot $82/sqft · 21% below area Est $139k · 21% 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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +5.6/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Buyers! This character-filled mid-century home already has many updates. With some TLC, it will be ready for a tenant or a new owner.Don't miss this opportunity for a quick turnaround. Situated on a corner lot in a quiet, established neighborhood near Dog River, this property offers a peaceful,nature-connected setting. The kitchen, bathroom, and flooring have already been updated. You'll love the spacious layout, abundant natural light, and clean mid-century lines. Buyer to verify all information during due diligence.

Key facts

• Kitchen updated
• Flooring updated
• Bathroom updated

Tags

• CORNER LOT
• QUIET ESTABLISHED NEIGHBORHOOD
• KITCHEN UPDATED
• BATHROOM UPDATED
• FLOORING UPDATED

🏷️ Possibly a rental listed for sale. The $110,000 price doesn't fit this home's estimated sale value (~$138,881) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: Rents rising fast (+8.3%/yr); 139 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 32% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1962 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.8

CMA / ARV

• ARV (median comp): $138,881
• List price: $110,000
• Delta: -20.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2255 Pratt Dr	0.00mi	3/1.0 (+1)	1,334 (0%)	1mo	$95,000	$71	94
2130 Barron Pl	0.29mi	3/2.0 (+1)	1,326 (-1%)	4mo	$136,000	$103	73
2108 Old Military Rd	0.30mi	2/1.5	1,331 (-0%)	22mo	$292,000	$219	65
2331 S Dog River Dr	0.52mi	3/1.0 (+1)	1,366 (+2%)	8mo	$167,000	$122	60
2329 Dog River Dr S	0.52mi	2/1.0	1,410 (+6%)	11mo	$160,000	$113	57
2224 Dauphin Island Pkwy	0.38mi	3/2.0 (+1)	1,365 (+2%)	21mo	$160,000	$117	52
2109 Pratt Dr	0.17mi	2/1.5	1,520 (+14%)	23mo	$147,000	$97	48
2312 Dauphin Island Pkwy	0.43mi	3/1.0 (+1)	1,525 (+14%)	16mo	$95,000	$62	37
2126 Barron Pl	0.29mi	3/2.0 (+1)	1,534 (+15%)	20mo	$175,900	$115	36
2305 Cassie Ln	0.70mi	3/2.0 (+1)	1,205 (-10%)	20mo	$105,000	$87	26

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.5%
• Equity multiple: 1.14×
• Total profit: $4,376
• Equity at exit: $16,401

10-year hold

• IRR: 17.0%
• Equity multiple: 2.70×
• Total profit: $52,481
• Equity at exit: $9,511

Cash invested: $30,800 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,170 high
• Mortgage (P&I): −$577
• Tax from tax record: −$50 /mo · $597/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $252

Break-even live

Break-even rent $851

Max offer price $110,000

Occupancy floor 73%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 Barron Pl Mobile, AL	3.0	1.0	1000	$1,200	$1.20	44d	1	0.37mi
1815 Ogburn Ave Unit B Mobile, AL	2.0	1.0	900	$900	$1.00	21d	1	0.90mi
2359 Vermillion Dr Mobile, AL	3.0	1.0	1064	$895	$0.84	21d	1	0.95mi
1601 Neshota Dr Apt 86 Mobile, AL	3.0	1.0	880	$900	$1.02	44d	1	1.18mi
1601 Neshota Dr Mobile, AL	2.0–3.0	1.0	815	$735	$0.90	13d	7	1.18mi
2055 Steiner St Mobile, AL	2.0	1.0	1797	$895	$0.50	44d	1	1.24mi
2366 White St Unit B Mobile, AL	2.0	1.0	900	$845	$0.94	44d	1	1.25mi
3210 Ward Rd Unit 1043617P Mobile, AL	3.0	2.0	1593	$2,395	$1.50	13d	1	1.43mi
3311 Alba Club Rd Mobile, AL	3.0	1.0	1200	$1,200	$1.00	44d	1	1.44mi

Listing history 3 events

1. 2026-04-13
   listed $120,000 Active 534-char remark

   Show marketing remark (535 chars)

   Attention Buyers! This character-filled mid-century home already has many updates. With some TLC, it will be ready for a tenant or a new owner. Don't miss this opportunity for a quick turnaround. Situated on a corner lot in a quiet, established neighborhood near Dog River, this property offers a peaceful, nature-connected setting. The kitchen, bathroom, and flooring have already been updated. You'll love the spacious layout, abundant natural light, and clean mid-century lines. Buyer to verify all information during due diligence.

2. 2026-04-13
   listed $120,000 Active 535-char remark

   Show marketing remark (535 chars)

   Attention Buyers! This character-filled mid-century home already has many updates. With some TLC, it will be ready for a tenant or a new owner. Don't miss this opportunity for a quick turnaround. Situated on a corner lot in a quiet, established neighborhood near Dog River, this property offers a peaceful, nature-connected setting. The kitchen, bathroom, and flooring have already been updated. You'll love the spacious layout, abundant natural light, and clean mid-century lines. Buyer to verify all information during due diligence.

3. 2019-06-12
   soldstatus $93,805

ⓘ 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: $597 · $50/mo
• Projected year-2 tax: $597 · $50/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 9/10 Extreme 7 d/yr ≥105°F today · 21 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: $14,043
• − Mortgage interest: −$6,162
• − Property taxes: −$597
• − Insurance: −$550
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$3,200
• Taxable income: $1,287
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $2,716/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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 (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

+27.9% since first listed

3 events — show timeline

• 2026-04-13 Listed $120,000 GCMLS AL
• 2026-04-13 Listed $120,000 BCAR
• 2019-06-12 Sold (Public Records) $93,805 Public Records

Property tax history

+2.9%/yr

Latest (2025): $597 · +3.5% YoY. Source: county tax records.