770 Gorgas St · Mobile, AL 36603

$34,000

2 bd · 1.0 ba · 819 sqft · SingleFamily public records

Built 1925 0.25 ac lot Est $28k · 22% over ↓ 47% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

Key facts

• 0.25 acre lot
• Garage
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $34k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $34k).
• Cap rate 28.6% 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: 36 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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

• In year one you build about $684 of equity ($235 loan paydown + $449 appreciation (1.3% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; 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 $34,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.16% ✓
• Cap rate: 28.61%
• Cash-on-cash: 79.71%
• DSCR: 4.55
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $27,846
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
801 Kentucky St	0.08mi	2/1.5	912 (+11%)	8mo	$18,000	$20	69
1007 Heustis St	0.48mi	2/1.0	874 (+7%)	5mo	$18,000	$21	62
904 Kentucky St	0.28mi	1/1.0 (-1)	752 (-8%)	10mo	$20,000	$27	60
865 Mcquillen St	0.27mi	2/1.0	888 (+8%)	23mo	$90,000	$101	54
1068 Arlington St	0.73mi	2/1.0	730 (-11%)	1mo	$45,000	$62	47
1006 Maryland St	0.62mi	2/1.0	936 (+14%)	5mo	$60,000	$64	43
557 Marine St	0.71mi	2/1.0	912 (+11%)	7mo	$30,000	$33	42
1107 Quigley St	0.56mi	2/1.0	914 (+12%)	20mo	$31,000	$34	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.6%
• Equity multiple: 4.91×
• Total profit: $37,263
• Equity at exit: $12,179

10-year hold

• IRR: 75.3%
• Equity multiple: 10.04×
• Total profit: $86,100
• Equity at exit: $16,637

Cash invested: $9,520 (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 36603

• Home prices YoY: 2.8%
• Active inventory: 36
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$178
• Tax from tax record: −$23 /mo · $274/yr
• Insurance: −$14
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $566

Break-even live

Break-even rent $357

Max offer price $34,000

Occupancy floor 42%

Sensitivity live

Price	-10% $585	-5% $576	+0% $566	+5% $556	+10% $547
Rent	-10% $481	-5% $524	+0% $566	+5% $608	+10% $651
Rate	-1.0pp $583	-0.5pp $575	base $566	+0.5pp $557	+1.0pp $548

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: $8,500
• Closing costs: $1,020
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.52mi
1009 Miami St Mobile, AL	3.0	1.0	768	$1,150	$1.50	44d	1	0.53mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	44d	2	0.66mi
1013 Elmira St Unit B Mobile, AL	1.0	1.0	547	$745	$1.36	21d	1	0.93mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	21d	1	0.93mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	21d	1	1.01mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	44d	1	1.34mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	21d	1	1.34mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	44d	1	1.38mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	44d	1	1.50mi

Listing history 9 events

1. 2026-04-25
   historical
2. 2026-04-09
   status Pending 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

3. 2026-04-06
   price $34,000 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

4. 2026-03-26
   status Active 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

5. 2026-03-26
   price $35,000 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

6. 2026-03-16
   listed $34,000
7. 2026-02-11
   price $34,000 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

8. 2026-01-30
   listed $35,000 Active 664-char remark

   Show marketing remark (664 chars)

   Fixer Upper in Mobile! Lots of potential to renovate this property and get it ready to sell or rent! This home has 2 bedrooms and 1 bathroom as it currently sits, and just minutes from Downtown! Schedule a showing today! * * Home Sold As Is * * Motivated Seller * * This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

9. 2007-02-21
   soldstatus $64,000

ⓘ 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: $274 · $23/mo
• Projected year-2 tax: $274 · $23/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 8/10 Severe FEMA zone X (shaded) · 99% 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: $12,877
• − Mortgage interest: −$1,905
• − Property taxes: −$274
• − Insurance: −$968
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$989
• Taxable income: $6,681
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $5,188/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): 7,805

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 (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▲ 1.32%
• Current HPI: 48.9551
• 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

-46.9% since first listed

9 events — show timeline

• 2026-04-25 Delisted — BCAR
• 2026-04-09 Pending — BCAR
• 2026-04-06 Price Changed $34,000 BCAR
• 2026-03-26 Relisted — BCAR
• 2026-03-26 Price Changed $35,000 BCAR
• 2026-03-16 Listed $34,000 BCAR
• 2026-02-11 Price Changed $34,000 BCAR
• 2026-01-30 Listed $35,000 BCAR
• 2007-02-21 Sold (Public Records) $64,000 Public Records

Property tax history

-2.3%/yr

Latest (2025): $274 · +6.9% YoY. Source: county tax records.