2011 Harmon St · Montgomery, AL 36107

$65,000

4 bd · 2.0 ba · 2,222 sqft · SingleFamily public records · 111 Days on market

Built 1946 0.34 ac lot $29/sqft · 41% below area Est $109k · 41% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR SPECIAL- Tremendous potential for home buyers or investors looking for a large home. This home offers 4br/3ba's with over 2200 SF. of living space. Convent location with easy access to many amenities. Bring your vision and make this your own. SOLD AS IS. Owner also selling MLS#

Key facts

• 0.34 acre lot
• Parking
• Built 1946

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.6% 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: Highland Gardens Elementary School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 471 students, 94% FRL); Capitol Heights Middle School (math 0% / reading 15%, grade F, #241 of 257 statewide, top 95%, 655 students, 97% FRL); Lee High School (math 2% / reading 8%, grade F, #276 of 305 statewide, top 95%, 1,374 students, 86% FRL) — zoned schools average 92% FRL vs 70% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 8% at this address vs 20% district-wide (-12 pts) — the specific schools serving this property underperform the Montgomery County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.0%/yr); 67 active listings in the ZIP; 20 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).
• At $1,333/mo this rent would consume 49% of the median local household income ($32k/yr) (locally 642% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k 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 + 5.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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: 2.05% ✓
• Cap rate: 17.56%
• Cash-on-cash: 40.24%
• DSCR: 2.79
• GRM: 4.1

CMA / ARV

• ARV (median comp): $109,446
• List price: $65,000
• Delta: -40.61%
• 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
1025 Federal Dr	0.37mi	3/2.5 (-1)	2,225 (+0%)	10mo	$159,000	$71	67
2731 Sweetbriar Rd	0.43mi	3/2.0 (-1)	2,350 (+6%)	1mo	$191,000	$81	64
2740 Ashley Ave	0.53mi	3/1.5 (-1)	2,187 (-2%)	1mo	$177,000	$81	64
2048 Speigle St	0.17mi	3/1.0 (-1)	2,000 (-10%)	4mo	$86,200	$43	63
2786 Crestview Ave	0.54mi	3/2.0 (-1)	2,144 (-4%)	4mo	$170,000	$79	60
2850 Biltmore Ave	0.72mi	4/2.0	2,160 (-3%)	6mo	$193,000	$89	57
2775 Pelzer Ave	0.68mi	3/3.0 (-1)	2,366 (+6%)	2mo	$130,000	$55	47
2858 Sumter Ave	0.70mi	3/3.0 (-1)	2,138 (-4%)	6mo	$180,000	$84	47
2731 Ashley Ave	0.49mi	3/2.5 (-1)	1,919 (-14%)	2mo	$225,000	$117	46
2789 Ashley Ave	0.59mi	3/2.5 (-1)	1,945 (-12%)	7mo	$190,000	$98	39
2865 Sumter Ave	0.71mi	3/2.0 (-1)	2,031 (-9%)	12mo	$185,000	$91	37
2820 Ashley Ave	0.68mi	4/2.0	2,499 (+12%)	15mo	$180,000	$72	36

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 38.9%
• Equity multiple: 2.71×
• Total profit: $31,163
• Equity at exit: $9,692

10-year hold

• IRR: 46.4%
• Equity multiple: 5.90×
• Total profit: $89,260
• Equity at exit: $5,620

Cash invested: $18,200 (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 36107

• Home prices YoY: -10.9%
• Rents YoY: 5.0%
• Active inventory: 67
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,333 high
• Mortgage (P&I): −$341
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $610

Break-even live

Break-even rent $560

Max offer price $65,000

Occupancy floor 49%

Sensitivity live

Price	-10% $647	-5% $629	+0% $610	+5% $592	+10% $574
Rent	-10% $505	-5% $558	+0% $610	+5% $663	+10% $716
Rate	-1.0pp $643	-0.5pp $627	base $610	+0.5pp $594	+1.0pp $576

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	22d	1	0.61mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	45d	1	0.65mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	15d	1	0.65mi
3050 Willena Ave Montgomery, AL	3.0	1.0	1466	$985	$0.67	22d	1	0.65mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	22d	1	0.83mi
2941 Ashley Ave Unit 6616 Montgomery, AL	3.0	2.0	2340	$1,250	$0.53	45d	1	0.86mi
942 Parkwood Ct Montgomery, AL	4.0	2.0	1752	$1,299	$0.74	15d	1	0.88mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	15d	1	1.07mi
200 Eton Rd Montgomery, AL	3.0	1.5	1500	$895	$0.60	15d	1	1.09mi
3452 Harris St Montgomery, AL	3.0	1.0	1400	$1,150	$0.82	22d	1	1.10mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	15d	1	1.11mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	22d	1	1.13mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	45d	1	1.13mi
3105 Pelzer Ave Montgomery, AL	4.0	2.0	1605	$1,425	$0.89	45d	1	1.16mi
931 Whitehall Pkwy Montgomery, AL	4.0	3.0	2403	$1,800	$0.75	46d	1	1.20mi
128 S Capitol Pkwy Montgomery, AL	3.0	1.0	1550	$1,500	$0.97	45d	1	1.28mi
1007 Highpoint Rd Montgomery, AL	4.0	2.0	2089	$1,581	$0.76	15d	1	1.35mi
3462 Biltmore Ave Montgomery, AL	3.0	2.0	1685	$1,225	$0.73	22d	1	1.45mi
2009 Palmetto St Montgomery, AL	3.0	1.0	1487	$1,050	$0.71	45d	1	1.49mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	15d	1	1.49mi

Listing history 17 events

1. 2026-06-21
   days on market $65,000 Active 111 DOM
2. 2026-06-18
   days on market $65,000 Active 108 DOM
3. 2026-06-17
   days on market $65,000 Active 107 DOM
4. 2026-06-16
   days on market $65,000 Active 106 DOM
5. 2026-06-15
   days on market $65,000 Active 105 DOM
6. 2026-06-14
   days on market $65,000 Active 103 DOM
7. 2026-06-13
   days on market $65,000 Active 102 DOM
8. 2026-06-10
   days on market $65,000 Active 100 DOM
9. 2026-06-09
   days on market $65,000 Active 99 DOM
10. 2026-06-08
    days on market $65,000 Active 98 DOM
11. 2026-06-07
    days on market $65,000 Active 97 DOM
12. 2026-06-03
    days on market $65,000 Active 93 DOM
13. 2026-06-02
    days on market $65,000 Active 92 DOM
14. 2026-06-01
    days on market $65,000 Active 91 DOM
15. 2026-05-31
    days on market $65,000 Active 90 DOM
16. 2026-05-30
    days on market $65,000 Active 89 DOM
17. 2026-02-27
    listed $65,000 Active 288-char remark

    Show marketing remark (288 chars)

    INVESTOR SPECIAL- Tremendous potential for home buyers or investors looking for a large home. This home offers 4br/3ba's with over 2200 SF. of living space. Convent location with easy access to many amenities. Bring your vision and make this your own. SOLD AS IS. Owner also selling MLS#

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $892 · $74/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥107°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,990
• − Mortgage interest: −$3,641
• − Property taxes: −$892
• − Insurance: −$325
• − Repairs & maintenance: −$1,279
• − Management: −$1,279
• − Depreciation: −$1,891
• Taxable income: $6,682
• Est. tax owed @ 24.0%: −$1,604
• After-tax cash flow: $5,721/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): 8,001
• Household income: $32,492
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 642.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 43% White 27% Hispanic / Latino 23% Two or more races 20%
• Hispanic origin (detail): Mexican 8% Cuban 3%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 13%

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: ▼ -18.16%
• Current HPI: 147.8065
• Rent YoY: ▲ 5.05%
• 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

1 event — show timeline

• 2026-02-27 Listed $65,000 MAAR

Property tax history

+1.4%/yr

Latest (2025): $892 · -10.2% YoY. Source: county tax records.