1806 New Hamilton St · Mobile, AL 36604

$115,000

2 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 167 Days on market

Built 1992 5,693 sqft lot $107/sqft · 49% below area Est $225k · 49% 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is occupied. Do not show up without a confirmed appointment. This is a fixer upper in centrally located Old Dauphin Way Historic District. Close to restaurants, some shopping, and hospitals. Cash offers only. Home sold as-is, where-is with no warranties expressed or implied.

Key facts

• Close to restaurants
• Close to hospitals
• Close to shopping

Tags

• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING
• CLOSE TO HOSPITALS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 (+3.8%/yr); 93 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $795 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 + 3.8% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.17% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.66%
• DSCR: 1.61
• GRM: 7.1

CMA / ARV

• ARV (median comp): $224,576
• List price: $115,000
• Delta: -48.79%
• 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
120 Shell Road Pl	0.13mi	3/1.0 (+1)	1,139 (+6%)	6mo	$140,000	$123	73
36 Lafayette St S	0.61mi	2/1.0	1,064 (-1%)	3mo	$234,000	$220	68
106 Carlen St N	0.22mi	2/1.0	1,120 (+4%)	18mo	$115,000	$103	67
119 Margaret St	0.32mi	2/1.0	1,100 (+3%)	19mo	$195,000	$177	65
1723 Laurel St	0.47mi	2/1.0	1,064 (-1%)	23mo	$249,500	$234	58
100 Demouy Ave	0.44mi	2/2.0	1,148 (+7%)	16mo	$207,500	$181	51
66 Glenwood St	0.68mi	2/1.0	1,125 (+5%)	12mo	$175,000	$156	50
210 Houston St	0.69mi	2/1.0	1,182 (+10%)	2mo	$155,000	$131	49
53 Mohawk St	0.70mi	2/1.0	1,207 (+13%)	4mo	$235,000	$195	43
1815 Hunter Ave	0.67mi	2/2.0	998 (-7%)	15mo	$225,000	$225	41
112 Espejo St	0.75mi	2/1.0	1,230 (+15%)	9mo	$150,000	$122	33
2158 Homewood St	0.75mi	2/2.0	1,200 (+12%)	22mo	$242,000	$202	23

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $5,745
• Equity at exit: $17,147

10-year hold

• IRR: 14.7%
• Equity multiple: 2.22×
• Total profit: $39,363
• Equity at exit: $9,943

Cash invested: $32,200 (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 36604

• Rents YoY: 3.8%
• Active inventory: 93
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,349 high
• Mortgage (P&I): −$603
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $367

Break-even live

Break-even rent $885

Max offer price $115,000

Occupancy floor 68%

Sensitivity live

Price	-10% $432	-5% $399	+0% $367	+5% $334	+10% $302
Rent	-10% $260	-5% $313	+0% $367	+5% $420	+10% $473
Rate	-1.0pp $425	-0.5pp $396	base $367	+0.5pp $337	+1.0pp $307

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	44d	1	0.30mi
1566 Dauphin St Unit Back Carriage House Mobile, AL	3.0	1.0	1300	$1,200	$0.92	44d	1	0.36mi
12 S Catherine St Unit 2 Mobile, AL	1.0	1.0	700	$725	$1.04	21d	1	0.44mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	44d	1	0.51mi
305 Indian Creek Dr E Unit 1043809P Mobile, AL	3.0	2.5	1496	$3,985	$2.66	14d	1	0.53mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	44d	1	0.56mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,062	$1.63	44d	1	0.59mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	14d	1	0.70mi
182 Williams St Unit 1043570P Mobile, AL	3.0	1.0	1399	$2,476	$1.77	14d	1	0.73mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,750	$1.39	21d	1	0.77mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	44d	1	0.84mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	21d	1	0.88mi
57 N Ann St Unit 1043453P Mobile, AL	2.0	2.0	1065	$2,015	$1.89	21d	1	0.91mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	44d	1	0.92mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	21d	1	0.97mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	44d	1	0.97mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	21d	1	0.97mi
1254 Old Shell Rd Mobile, AL	1.0–2.0	1.0	660	$975	$1.48	14d	4	1.03mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	14d	1	1.04mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	44d	1	1.13mi
423 Devon Dr Mobile, AL	3.0	1.0	1220	$950	$0.78	44d	1	1.16mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	14d	1	1.17mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	14d	1	1.18mi
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	44d	1	1.24mi
510 Schwartz St Mobile, AL	3.0	2.0	1288	$1,400	$1.09	14d	1	1.25mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	21d	1	1.28mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	44d	2	1.28mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	44d	1	1.31mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	44d	1	1.32mi
200 S Florida St Unit 101 Mobile, AL	2.0	2.0	1150	$1,375	$1.20	21d	1	1.34mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$949	$1.22	14d	9	1.46mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	44d	1	1.46mi
2500 Dauphinwood Dr Mobile, AL	2.0–3.0	1.0–2.0	1250	$980	$0.78	14d	19	1.47mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	44d	1	1.48mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $115,000 Active 167 DOM
2. 2026-06-17
   days on market $115,000 Active 166 DOM
3. 2026-06-16
   days on market $115,000 Active 165 DOM
4. 2026-06-15
   days on market $115,000 Active 164 DOM
5. 2026-06-14
   days on market $115,000 Active 162 DOM
6. 2026-06-13
   days on market $115,000 Active 161 DOM
7. 2026-06-10
   days on market $115,000 Active 159 DOM
8. 2026-06-09
   days on market $115,000 Active 158 DOM
9. 2026-06-08
   days on market $115,000 Active 157 DOM
10. 2026-06-07
    days on market $115,000 Active 156 DOM
11. 2026-06-05
    days on market $115,000 Active 153 DOM
12. 2026-06-03
    days on market $115,000 Active 152 DOM
13. 2026-06-02
    days on market $115,000 Active 151 DOM
14. 2026-06-01
    days on market $115,000 Active 150 DOM
15. 2026-05-31
    days on market $115,000 Active 149 DOM
16. 2026-05-30
    days on market $115,000 Active 148 DOM
17. 2026-01-02
    listed $115,000 Active 285-char remark

    Show marketing remark (285 chars)

    This home is occupied. Do not show up without a confirmed appointment. This is a fixer upper in centrally located Old Dauphin Way Historic District. Close to restaurants, some shopping, and hospitals. Cash offers only. Home sold as-is, where-is with no warranties expressed or implied.

ⓘ 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: $577 · $48/mo
• Projected year-2 tax: $577 · $48/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 · 20 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: $16,188
• − Mortgage interest: −$6,442
• − Property taxes: −$577
• − Insurance: −$575
• − Repairs & maintenance: −$1,295
• − Management: −$1,295
• − Depreciation: −$3,345
• Taxable income: $2,659
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $3,762/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): 8,836
• Household income: $66,357
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 452.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 42% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada, China
• 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: ▼ -143.27%
• Current HPI: 205.7241
• Rent YoY: ▲ 3.78%
• 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

1 event — show timeline

• 2026-01-02 Listed $115,000 GCMLS AL

Property tax history

+1.2%/yr

Latest (2025): $577 · +4.4% YoY. Source: county tax records.