3608 Norman Bridge Rd · Montgomery, AL 36105

$34,900

5 bd · 2.0 ba · 1,302 sqft · SingleFamily public records · 62 Days on market

Built 1950 9,583 sqft lot $27/sqft · 33% below area ↓ 34% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Key facts

• 9,583 sq ft lot
• Parking
• Built 1950

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $940 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 38.6% 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: Bellingrath Middle School (math 0% / reading 12%, grade F, #252 of 257 statewide, top 98%, 607 students, 96% FRL, charter); Lanier Senior High School (math 2% / reading 12%, grade F, #265 of 305 statewide, top 89%, 798 students, 94% FRL) — zoned schools average 95% FRL vs 70% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 20% district-wide (-13 pts) — the specific schools serving this property underperform the Montgomery County average; the district grade overstates school quality for this exact location.
• Market conditions: 79 active listings in the ZIP; 12 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y ago; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $32,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.17% ✓
• Cap rate: 38.61%
• Cash-on-cash: 115.43%
• DSCR: 6.14
• GRM: 2.0

CMA / ARV

• ARV (median comp): $103,754
• List price: $34,900
• Delta: -66.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3902 Wesley Dr	0.54mi	5/2.0	1,350 (+4%)	9mo	$143,000	$106	61
641 E Edgemont Ave	0.56mi	4/1.5 (-1)	1,430 (+10%)	2mo	$143,000	$100	49

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: —
• Equity multiple: 6.55×
• Total profit: $54,215
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 13.72×
• Total profit: $124,311
• Equity at exit: $3,018

Cash invested: $9,772 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,457 high
• Mortgage (P&I): −$183
• Tax from tax record: −$13 /mo · $162/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $940

Break-even live

Break-even rent $267

Max offer price $34,900

Occupancy floor 30%

Sensitivity live

Price	-10% $960	-5% $950	+0% $940	+5% $930	+10% $920
Rent	-10% $825	-5% $882	+0% $940	+5% $998	+10% $1,055
Rate	-1.0pp $958	-0.5pp $949	base $940	+0.5pp $931	+1.0pp $922

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	22d	1	0.34mi
3445 Le Bron Rd Montgomery, AL	4.0	1.0	1100	$1,050	$0.95	22d	1	0.41mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	22d	1	0.44mi
3902 Wesley Dr Montgomery, AL	5.0	2.0	1689	$1,595	$0.94	22d	1	0.54mi
4148 Edgar D Nixon Ave Montgomery, AL	4.0	1.0	1208	$1,200	$0.99	45d	1	0.79mi
1388 Adrian Ln Montgomery, AL	5.0	2.0	1701	$1,600	$0.94	15d	1	0.82mi
1067 Roslyn Dr Montgomery, AL	4.0	2.0	1760	$1,125	$0.64	22d	1	0.84mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	45d	1	0.93mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	45d	1	1.10mi
1919 Norman Bridge Ct Unit 1043838P Montgomery, AL	4.0	3.0	1539	$4,108	$2.67	45d	1	1.12mi
1355 Buckingham Dr Montgomery, AL	4.0	2.0	1620	$1,650	$1.02	15d	1	1.34mi
1219 Biscayne Dr Montgomery, AL	4.0	1.5	1228	$1,295	$1.05	22d	1	1.43mi

Listing history 14 events

1. 2026-05-10
   price $34,900
2. 2026-03-25
   listed $39,900 Active
3. 2021-02-05
   listed $34,500
4. 2017-12-14
   listed $24,900
5. 2017-06-30
   listed $24,900
6. 2011-06-06
   listed $7,500
7. 2010-08-22
   listed $42,000
8. 2010-02-24
   listed $39,900
9. 2008-11-05
   listed $48,900
10. 2005-07-16
    listed $54,900
11. 2005-01-20
    listed $55,000
12. 2004-08-02
    listed $55,000
13. 2000-07-05
    listed $52,500
14. 2000-01-15
    listed $52,500

ⓘ 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: $162 · $13/mo
• Projected year-2 tax: $162 · $13/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 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $17,484
• − Mortgage interest: −$1,955
• − Property taxes: −$162
• − Insurance: −$174
• − Repairs & maintenance: −$1,399
• − Management: −$1,399
• − Depreciation: −$1,015
• Taxable income: $11,380
• Est. tax owed @ 24.0%: −$2,731
• After-tax cash flow: $8,548/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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: Predominantly Black (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• Rent YoY: —
• 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

-33.5% since first listed

14 events — show timeline

• 2026-05-10 Price Changed $34,900 MAAR
• 2026-03-25 Listed $39,900 MAAR
• 2021-02-05 Listed $34,500 MAAR
• 2017-12-14 Listed $24,900 MAAR
• 2017-06-30 Listed $24,900 MAAR
• 2011-06-06 Listed $7,500 MAAR
• 2010-08-22 Listed $42,000 MAAR
• 2010-02-24 Listed $39,900 MAAR
• 2008-11-05 Listed $48,900 MAAR
• 2005-07-16 Listed $54,900 MAAR
• 2005-01-20 Listed $55,000 MAAR
• 2004-08-02 Listed $55,000 MAAR
• 2000-07-05 Listed $52,500 MAAR
• 2000-01-15 Listed $52,500 MAAR

Property tax history

-8.2%/yr

Latest (2025): $162 · +1.2% YoY. Source: county tax records.