1806 New Hamilton St · Mobile, AL 36604

$115,000

2 bd · 1.0 ba · 1,072 sqft · SingleFamily public records · 273 Days on market

Built 1992 Poor condition 5,693 sqft lot $107/sqft · 49% below area Est $226k · 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.4/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +1.2/10.0
• Condition / age +1.0/5.0
• 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. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $336 ($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 9.8% vs local median 5.3% 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: Leinkauf Elementary School (math 8% / reading 26%, grade F, #499 of 627 statewide, top 80%, 538 students, 91% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% FRL); Murphy High School (math 10% / reading 19%, grade F, #220 of 305 statewide, top 77%, 1,254 students, 66% FRL) — zoned schools average 84% FRL vs 67% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 27% district-wide (-13 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.8%/yr); 166 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 32d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 273 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 273 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.14% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

• ARV (median comp): $226,198
• List price: $115,000
• Delta: -49.16%
• 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
152 Tuscaloosa St	0.44mi	2/1.0	1,029 (-4%)	3mo	$169,000	$164	70
120 Shell Road Pl	0.13mi	3/1.0 (+1)	1,139 (+6%)	11mo	$140,000	$123	69
107 Demouy Ave	0.46mi	2/2.0	1,130 (+5%)	1mo	$280,550	$248	65
36 Lafayette St S	0.61mi	2/1.0	1,064 (-1%)	8mo	$234,000	$220	64
1713 New Conti St	0.42mi	3/1.0 (+1)	1,180 (+10%)	0mo	$245,000	$208	58
251 Park Ter	0.72mi	2/1.5	1,182 (+10%)	1mo	$140,000	$118	47
214 Upham Street St Unit 3D	0.60mi	2/1.0	922 (-14%)	3mo	$157,500	$171	46
66 Glenwood St	0.68mi	2/1.0	1,125 (+5%)	17mo	$175,000	$156	46
210 Houston St	0.69mi	2/1.0	1,182 (+10%)	7mo	$155,000	$131	45
53 Mohawk St	0.70mi	2/1.0	1,207 (+13%)	8mo	$235,000	$195	39
1815 Hunter Ave	0.67mi	2/2.0	998 (-7%)	19mo	$225,000	$225	37
112 Espejo St	0.75mi	2/1.0	1,230 (+15%)	13mo	$150,000	$122	30

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: 3.0%
• Equity multiple: 1.12×
• Total profit: $3,776
• Equity at exit: $17,147

10-year hold

• IRR: 13.2%
• Equity multiple: 2.09×
• Total profit: $35,024
• 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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 14 active · 24 under contract
• Months of supply: 4.2 mo (24%/mo absorbed)
• Median asking: $187,250 ($154/sqft)
• Median days on market: 79 d
• This list price: 14% of active listings are priced below it
• ARV vs active asking: +37.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36604

• Rents YoY: 3.8%
• Active inventory: 166
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,310 high
• Mortgage (P&I): −$603
• Tax from tax record: −$48 /mo · $577/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $336

Break-even live

Break-even rent $885

Max offer price $115,000

Occupancy floor 69%

Sensitivity live

Price	-10% $401	-5% $369	+0% $336	+5% $304	+10% $271
Rent	-10% $233	-5% $284	+0% $336	+5% $388	+10% $440
Rate	-1.0pp $394	-0.5pp $365	base $336	+0.5pp $306	+1.0pp $276

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1753 New Hamilton St Mobile, AL	3.0	1.5	1500	$1,795	$1.20	10d	1	0.09mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	184d	1	0.30mi
1566 Dauphin St Unit Back Carriage House Mobile, AL	3.0	1.0	1300	$1,200	$0.92	184d	1	0.36mi
12 S Catherine St Unit 2 Mobile, AL	1.0	1.0	700	$725	$1.04	162d	1	0.44mi
1504 Dauphin St Unit 6 Mobile, AL	2.0	1.5	955	$850	$0.89	7d	1	0.50mi
1504 Dauphin St Unit 6 Mobile, AL	2.0	1.5	955	$1,000	$1.05	51d	1	0.50mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	184d	1	0.51mi
305 Indian Creek Dr E Unit 1043809P Mobile, AL	3.0	2.5	1496	$3,985	$2.66	154d	1	0.53mi
111 S Catherine St Mobile, AL	1.0–2.0	1.0	794	$899	$1.13	8d	2	0.55mi
214 Upham St Unit 5D Mobile, AL	1.0	1.0	792	$1,150	$1.45	43d	1	0.59mi
214 Upham St Unit 5D Mobile, AL	1.0	1.0	792	$1,150	$1.45	50d	1	0.59mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,085	$1.65	10d	1	0.59mi
166 Kenan St Unit D Mobile, AL	1.0	1.0	750	$1,200	$1.60	51d	1	0.62mi
1600 Government St Unit 2C Mobile, AL	2.0	1.0	962	$995	$1.03	31d	1	0.64mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	154d	1	0.70mi
182 Williams St Unit 1043570P Mobile, AL	3.0	2.0	1399	$2,697	$1.93	1d	1	0.73mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,500	$1.20	51d	1	0.77mi
1916 Myrtle Ave Mobile, AL	2.0	1.5	1428	$1,600	$1.12	51d	1	0.80mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$995	$1.07	51d	1	0.84mi
1404 Saint Stephens Rd Apt H Mobile, AL	2.0	1.0	776	$750	$0.97	10d	1	0.86mi
1404 Saint Stephens Rd Apt F Mobile, AL	2.0	1.0	776	$750	$0.97	51d	1	0.86mi
209 Mohawk St Mobile, AL	2.0	1.0	810	$1,550	$1.91	6d	1	0.87mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	162d	1	0.88mi
57 N Ann St Unit 1043547P Mobile, AL	1.0–7.0	1.0–5.0	1092	$3,984	$3.65	2d	3	0.91mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	184d	1	0.92mi
2307 Emogene St Mobile, AL	3.0	2.0	1100	$1,250	$1.14	10d	1	0.96mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	184d	1	0.97mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	162d	1	0.97mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	162d	1	0.97mi
1254 Old Shell Rd Mobile, AL	1.0–2.0	1.0	660	$1,040	$1.58	2d	6	1.00mi
1705 Buck St Mobile, AL	3.0	1.0	1257	$895	$0.71	10d	1	1.02mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,527	$1.78	2d	1	1.04mi
377 Tuttle Ave Mobile, AL	2.0	1.0	700	$800	$1.14	7d	1	1.04mi
377 Tuttle Ave Mobile, AL	2.0	1.0	700	$800	$1.14	2d	1	1.04mi
377 Tuttle Ave Unit A Mobile, AL	2.0	1.0	700	$850	$1.21	6d	1	1.04mi
202 Morgan Ave Mobile, AL	2.0	1.0	1151	$1,400	$1.22	2d	1	1.06mi
302 S Ann St Unit 1 Mobile, AL	2.0	1.0	848	$950	$1.12	10d	1	1.06mi
213 Hazel St Unit 1043566P Mobile, AL	3.0	2.0	1334	$3,308	$2.48	1d	1	1.07mi
311 Mohawk St Mobile, AL	2.0	1.0	1075	$1,100	$1.02	1d	1	1.07mi
311 Mohawk St Mobile, AL	2.0	1.0	940	$1,100	$1.17	10d	1	1.07mi

Listing history 50 events

1. 2026-10-10
   days on market $115,000 Active 273 DOM
2. 2026-10-09
   days on market $115,000 Active 272 DOM
3. 2026-10-08
   days on market $115,000 Active 271 DOM
4. 2026-10-07
   days on market $115,000 Active 270 DOM
5. 2026-10-06
   days on market $115,000 Active 269 DOM
6. 2026-10-05
   days on market $115,000 Active 268 DOM
7. 2026-10-04
   days on market $115,000 Active 267 DOM
8. 2026-10-03
   days on market $115,000 Active 266 DOM
9. 2026-10-02
   days on market $115,000 Active 265 DOM
10. 2026-10-01
    days on market $115,000 Active 264 DOM
11. 2026-09-30
    days on market $115,000 Active 263 DOM
12. 2026-09-29
    days on market $115,000 Active 262 DOM
13. 2026-09-28
    days on market $115,000 Active 261 DOM
14. 2026-09-27
    days on market $115,000 Active 260 DOM
15. 2026-09-26
    days on market $115,000 Active 259 DOM
16. 2026-09-25
    days on market $115,000 Active 258 DOM
17. 2026-09-24
    days on market $115,000 Active 257 DOM
18. 2026-09-24
    days on market $115,000 Active 256 DOM
19. 2026-09-22
    days on market $115,000 Active 255 DOM
20. 2026-09-21
    days on market $115,000 Active 254 DOM
21. 2026-09-20
    days on market $115,000 Active 253 DOM
22. 2026-09-19
    days on market $115,000 Active 252 DOM
23. 2026-09-18
    days on market $115,000 Active 251 DOM
24. 2026-09-17
    days on market $115,000 Active 250 DOM
25. 2026-09-16
    days on market $115,000 Active 249 DOM
26. 2026-09-15
    days on market $115,000 Active 248 DOM
27. 2026-09-14
    days on market $115,000 Active 247 DOM
28. 2026-09-13
    days on market $115,000 Active 246 DOM
29. 2026-09-12
    days on market $115,000 Active 245 DOM
30. 2026-09-11
    days on market $115,000 Active 244 DOM
31. 2026-09-05
    days on market $115,000 Active 238 DOM
32. 2026-09-04
    days on market $115,000 Active 237 DOM
33. 2026-09-03
    days on market $115,000 Active 236 DOM
34. 2026-08-31
    days on market $115,000 Active 233 DOM
35. 2026-08-30
    days on market $115,000 Active 232 DOM
36. 2026-08-29
    days on market $115,000 Active 231 DOM
37. 2026-08-28
    days on market $115,000 Active 230 DOM
38. 2026-08-27
    days on market $115,000 Active 229 DOM
39. 2026-08-26
    days on market $115,000 Active 228 DOM
40. 2026-08-25
    days on market $115,000 Active 227 DOM
41. 2026-08-24
    days on market $115,000 Active 226 DOM
42. 2026-08-23
    days on market $115,000 Active 225 DOM
43. 2026-08-22
    days on market $115,000 Active 224 DOM
44. 2026-08-21
    days on market $115,000 Active 223 DOM
45. 2026-08-20
    days on market $115,000 Active 222 DOM
46. 2026-08-19
    days on market $115,000 Active 221 DOM
47. 2026-08-18
    days on market $115,000 Active 220 DOM
48. 2026-08-17
    days on market $115,000 Active 219 DOM
49. 2026-08-16
    days on market $115,000 Active 218 DOM
50. 2026-08-15
    days on market $115,000 Active 217 DOM

ⓘ 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: $15,726
• − Mortgage interest: −$6,442
• − Property taxes: −$577
• − Insurance: −$575
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$3,345
• Taxable income: $2,271
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $3,490/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.

Condition & rehab AI · 9 photos

Poor 20/100 Extensive rehab Est. rehab $53,600–$96,480 screening

This fixer-upper requires extensive repairs, including a new roof, exterior siding, and structural repairs. Immediate action is needed to stabilize the property and increase its value.

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — Significant structural damage and missing roof material
• Major Windows (windows) — Broken and missing window frames and glass
• Major Exterior (exterior) — Severe rot and damage to siding and foundation

Repairs flagged

• Major roof — Blue tarp covering roof
• Major exterior siding — Peeling paint, damaged siding
• Major interior structural damage — Exposed structural damage, debris

Value-add opportunities

• Both repair roof — Fixing the roof is critical for safety and value ↑
• Both repair exterior siding — Updating the exterior siding will improve curb appeal and value ↑
• Both repair interior structural damage — Fixing the structural damage will ensure the home is safe and habitable ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 12/100

Zoned Schools

Elementary Florence Howard Elementary School F AL #536/627 Nat'l #37,719/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Murphy High School F AL #220/305 Nat'l #15,534/17,239

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

B Composite livability gradescore 75/100

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 · 415,303 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: 10% of renters

---

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%
• 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.