361 Fredonia St · Mobile, AL 36607

$79,900

None bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 208 Days on market

Built 1976 3,293 sqft lot Est $104k · 23% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! This 3/1 home is situated on a corner lot and conveniently located near shopping, parks, and interstate 65. Currently leased for $1100 a month! This home has hardwood floors throughout most of the home with vinyl plank flooring in kitchen and bathroom. The kitchen comes with appliances, ample cabinet and countertop space, and features granite counter tops. You have a nice size covered front porch as well as rear entrance and parking off Elsmore St. Property sold "as is, where is" with no warranties expressed or implied.

Key facts

• Covered front porch
• Rear entrance
• Granite counter tops

Tags

• CORNER LOT
• HARDWOOD FLOORS
• VINYL PLANK FLOORING
• GRANITE COUNTER TOPS
• COVERED FRONT PORCH
• REAR ENTRANCE

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 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: Holloway Elementary (math 5% / reading 19%, grade F, #554 of 627 statewide, top 88%, 498 students, 98% FRL); Cl Scarborough Model Middle School (math 4% / reading 21%, grade F, #216 of 257 statewide, top 86%, 651 students, 94% FRL); John L Leflore Magnet School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 618 students, 84% FRL) — zoned schools average 92% FRL vs 67% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 45 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $69k; 16% 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 $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 13.82%
• Cash-on-cash: 26.90%
• DSCR: 2.20
• GRM: 5.4

CMA / ARV

• ARV (median comp): $104,335
• List price: $79,900
• Delta: -23.42%
• 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
2810 Pages Ln	0.24mi	3/2.0	1,212 (-3%)	11mo	$168,500	$139	71
413 Bay Shore Ave	0.19mi	4/2.0	1,300 (+4%)	12mo	$183,000	$141	70
134 Hyland Ave	0.47mi	2/2.0	1,272 (+2%)	2mo	$227,500	$179	69
415 Bay Shore Ave	0.20mi	3/2.0	1,300 (+4%)	13mo	$184,900	$142	68
2710 Betbeze St	0.18mi	3/2.0	1,100 (-12%)	3mo	$110,000	$100	66
2647 Weems Dr	0.19mi	3/2.0	1,124 (-10%)	7mo	$175,000	$156	65
2959 Nall St	0.51mi	3/2.0	1,294 (+4%)	1mo	$190,000	$147	65
2507 Myrtle St	0.55mi	2/1.0	1,150 (-8%)	4mo	$169,500	$147	58
2666 Betbeze St	0.22mi	4/2.0	1,429 (+15%)	5mo	$19,900	$14	57
292 Siena Vis	0.26mi	3/2.0	1,416 (+14%)	10mo	$169,000	$119	52
81 Lefevre St	0.72mi	4/1.0	1,207 (-3%)	12mo	$85,000	$70	52
2304 Rushing Dr	0.69mi	3/1.0	1,092 (-12%)	4mo	$65,000	$60	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.8%
• Equity multiple: 1.85×
• Total profit: $18,959
• Equity at exit: $11,913

10-year hold

• IRR: 28.9%
• Equity multiple: 3.57×
• Total profit: $57,512
• Equity at exit: $6,908

Cash invested: $22,372 (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 36607

• Active inventory: 45
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,234 high
• Mortgage (P&I): −$419
• Tax from tax record: −$21 /mo · $254/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $501

Break-even live

Break-even rent $599

Max offer price $79,900

Occupancy floor 54%

Sensitivity live

Price	-10% $547	-5% $524	+0% $501	+5% $479	+10% $456
Rent	-10% $404	-5% $453	+0% $501	+5% $550	+10% $599
Rate	-1.0pp $542	-0.5pp $522	base $501	+0.5pp $481	+1.0pp $460

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2850 Edgewood St Mobile, AL	2.0	1.0	816	$1,000	$1.23	23d	1	0.31mi
2853 Josephine St Mobile, AL	2.0	1.0	780	$975	$1.25	23d	1	0.38mi
113 Randolph St Unit 1 Mobile, AL	1.0	1.0	800	$958	$1.20	23d	1	0.46mi
156 Hemley Ave Mobile, AL	3.0	1.0	936	$1,195	$1.28	46d	1	0.52mi
423 Devon Dr Mobile, AL	3.0	1.0	1220	$950	$0.78	46d	1	0.72mi
55 Macks St Mobile, AL	2.0	1.0	848	$945	$1.11	23d	1	0.77mi
672 Burden St Mobile, AL	3.0	1.5	1421	$1,300	$0.91	23d	1	0.79mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	23d	1	0.86mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	23d	1	0.88mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	46d	2	0.88mi
708 Bond St Mobile, AL	3.0	1.0	1100	$1,350	$1.23	23d	1	0.89mi
2500 Dauphinwood Dr Mobile, AL	2.0–3.0	1.0–2.0	1250	$980	$0.78	15d	19	0.90mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,062	$1.63	46d	1	1.07mi
2966 Northwest Dr Mobile, AL	3.0	1.0	792	$895	$1.13	23d	1	1.10mi
510 Schwartz St Mobile, AL	3.0	2.0	1288	$1,400	$1.09	15d	1	1.14mi
150 Dunn Ave Mobile, AL	3.0	2.0	1455	$1,250	$0.86	23d	1	1.30mi
305 Indian Creek Dr E Unit 1043809P Mobile, AL	3.0	2.5	1496	$3,985	$2.66	15d	1	1.31mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	23d	1	1.32mi
3655 Old Shell Rd Unit 3655 Mobile, AL	2.0	2.0	1200	$1,850	$1.54	15d	1	1.37mi
168 W Collins St Mobile, AL	3.0	1.0	968	$725	$0.75	23d	1	1.37mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	46d	1	1.38mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	15d	1	1.39mi
200 S Florida St Unit 101 Mobile, AL	2.0	2.0	1150	$1,375	$1.20	23d	1	1.42mi
3060 Emogene St Mobile, AL	3.0	1.0	1200	$1,400	$1.17	15d	1	1.44mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	15d	1	1.45mi
2855 Potter Dr Mobile, AL	2.0	1.0	1127	$1,050	$0.93	46d	1	1.46mi
151 Du Rhu Dr Mobile, AL	1.0–3.0	1.0–2.0	1052	$2,270	$2.16	15d	12	1.46mi
2861 Potter Dr Unit 1043844P Mobile, AL	3.0	2.0	1496	$2,492	$1.67	23d	1	1.46mi

Listing history 9 events

1. 2026-05-31
   days on market $79,900 Active 208 DOM
2. 2026-05-30
   days on market $79,900 Active 207 DOM
3. 2025-11-04
   listed $79,900 Active 565-char remark

   Show marketing remark (565 chars)

   Great investment opportunity! This 3/1 home is situated on a corner lot and conveniently located near shopping, parks, and interstate 65. Currently leased for $1100 a month! This home has hardwood floors throughout most of the home with vinyl plank flooring in kitchen and bathroom. The kitchen comes with appliances, ample cabinet and countertop space, and features granite counter tops. You have a nice size covered front porch as well as rear entrance and parking off Elsmore St. Property sold "as is, where is" with no warranties expressed or implied.

4. 2025-10-06
   price $79,900
5. 2025-08-20
   price $84,900
6. 2025-06-27
   price $89,900
7. 2025-05-29
   price $94,900
8. 2022-09-07
   soldstatus $69,000
9. 2022-08-29
   soldstatus $69,000

ⓘ 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: $254 · $21/mo
• Projected year-2 tax: $328 · $27/mo
• Expected delta: +$74/yr (+$6/mo · 29.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $14,808
• − Mortgage interest: −$4,476
• − Property taxes: −$254
• − Insurance: −$400
• − Repairs & maintenance: −$1,185
• − Management: −$1,185
• − Depreciation: −$2,324
• Taxable income: $4,986
• Est. tax owed @ 24.0%: −$1,197
• After-tax cash flow: $4,821/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
• City population: 205,729
• Population (ZIP): 5,529

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: Majority Black (56%)
• Race & ethnicity: Black 56% White 40% Two or more races 3%
• Common ancestry: Slovak 4% Lithuanian 2% Scotch-Irish 1%
• Foreign-born: 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: ▼ -155.04%
• Current HPI: 127.0483
• 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

+15.8% since first listed

7 events — show timeline

• 2025-11-04 Listed $79,900 GCMLS AL
• 2025-10-06 Price Changed $79,900 GCMLS AL
• 2025-08-20 Price Changed $84,900 GCMLS AL
• 2025-06-27 Price Changed $89,900 GCMLS AL
• 2025-05-29 Price Changed $94,900 GCMLS AL
• 2022-09-07 Sold (Public Records) $69,000 Public Records
• 2022-08-29 Sold (MLS) $69,000 GCMLS AL

Property tax history

+1.7%/yr

Latest (2025): $254 · -2.0% YoY. Source: county tax records.