1706 Lomeroy St · Mobile, AL 36604

$90,000

3 bd · 1.0 ba · 924 sqft · SingleFamily public records · 206 Days on market

Built 1987 6,102 sqft lot $97/sqft · at area comps Est $90k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.7/15.0
• 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

OPEN HOUSE!!! SUNDAY, MAY 24TH, FROM 2 PM TO 4 PM!!! Welcome to this charming 3-bedroom, 1-bath bungalow in the heart of Midtown Mobile—ideal for both first-time home buyers and investors. This home pairs classic character with meaningful updates and valuable seller incentives. Recent improvements include new carpet, a new water heater, new laminate kitchen countertops, new kitchen cabinets, and tile flooring in the kitchen and laundry rooms. Bedrooms feature digital wall heaters for efficient supplemental warmth. Even more appealing, the seller is willing to make any needed repairs and is open to assisting with down payment and/or closing costs, making this an excellent opportunity for buyers seeking affordability and support. The property offers an enclosed front porch, off-street parking, and a level, low-maintenance yard. Its convenient location places you minutes from downtown, hospitals, parks, and local dining—ideal for both living and leasing. Whether you're purchasing your first home or expanding an investment portfolio, this property offers charm, updates, flexibility, and long-term value.

Key facts

• New water heater
• New kitchen cabinets
• Tile flooring

Tags

• NEW WATER HEATER
• NEW KITCHEN CABINETS
• TILE FLOORING
• HARDWOOD FLOORS
• ENCLOSED FRONT PORCH
• OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% 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 $622 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 $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $90k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 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: 1.30% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.65%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $90,365
• List price: $90,000
• Delta: -0.40%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
553 Weinacker Ave	0.03mi	3/1.0	1,058 (+14%)	3mo	$120,000	$113	72
1813 Halls Mill Rd	0.35mi	3/1.0	930 (+1%)	13mo	$64,900	$70	71
257 Ellis Ave	0.29mi	4/2.0 (+1)	886 (-4%)	3mo	$35,000	$40	68
563 Wisconsin Ave	0.46mi	2/1.0 (-1)	918 (-1%)	5mo	$60,000	$65	68
1707 Buck St	0.03mi	2/1.0 (-1)	1,026 (+11%)	24mo	$86,500	$84	56
1964 Dublin St	0.51mi	3/1.0	1,036 (+12%)	3mo	$15,500	$15	54
669 Ruth St	0.54mi	2/1.0 (-1)	896 (-3%)	20mo	$50,000	$56	48
252 Ellis Ave	0.34mi	2/1.5 (-1)	1,040 (+13%)	12mo	$138,000	$133	46
1815 Hunter Ave	0.47mi	2/2.0 (-1)	998 (+8%)	15mo	$225,000	$225	44
1403 Douglas St	0.69mi	2/1.0 (-1)	864 (-6%)	11mo	$15,850	$18	42
501 Williams St	0.53mi	3/1.0	1,054 (+14%)	24mo	$55,000	$52	32
1400 N CLOVERLEAF Cir	0.74mi	3/1.0	1,028 (+11%)	18mo	$124,000	$121	32

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: 9.9%
• Equity multiple: 1.39×
• Total profit: $9,930
• Equity at exit: $13,419

10-year hold

• IRR: 19.6%
• Equity multiple: 2.70×
• Total profit: $42,821
• Equity at exit: $7,782

Cash invested: $25,200 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$472
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $371

Break-even live

Break-even rent $703

Max offer price $90,000

Occupancy floor 63%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	43d	1	0.68mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	43d	1	0.76mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	43d	1	0.79mi
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	43d	1	0.89mi
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	43d	1	0.92mi
728 Bankhead Pl Mobile, AL	2.0	1.0	810	$675	$0.83	43d	1	0.97mi
767 Jemison St Mobile, AL	2.0	1.0	850	$750	$0.88	43d	1	1.15mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	21d	1	1.20mi
1009 Miami St Mobile, AL	3.0	1.0	768	$1,150	$1.50	43d	1	1.22mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	13d	1	1.28mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	43d	1	1.30mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	21d	1	1.32mi
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	43d	1	1.36mi
57 N Ann St Unit 1043453P Mobile, AL	2.0	2.0	1065	$2,015	$1.89	21d	1	1.38mi
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	43d	1	1.45mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$1,261	$1.62	13d	9	1.46mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	21d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $90,000 Active 206 DOM
2. 2026-06-17
   days on market $90,000 Active 205 DOM
3. 2026-06-16
   days on market $90,000 Active 204 DOM
4. 2026-06-15
   days on market $90,000 Active 203 DOM
5. 2026-06-14
   days on market $90,000 Active 201 DOM
6. 2026-06-13
   days on market $90,000 Active 200 DOM
7. 2026-06-10
   days on market $90,000 Active 198 DOM
8. 2026-06-09
   days on market $90,000 Active 197 DOM
9. 2026-06-08
   days on market $90,000 Active 196 DOM
10. 2026-06-07
    days on market $90,000 Active 195 DOM
11. 2026-06-05
    days on market $90,000 Active 192 DOM
12. 2026-06-03
    days on market $90,000 Active 191 DOM
13. 2026-06-02
    days on market $90,000 Active 190 DOM
14. 2026-06-01
    days on market $90,000 Active 189 DOM
15. 2026-05-31
    days on market $90,000 Active 188 DOM
16. 2026-05-30
    days on market $90,000 Active 187 DOM
17. 2026-03-03
    price $90,000 1128-char remark

    Show marketing remark (1128 chars)

    OPEN HOUSE!!! SUNDAY, MAY 24TH, FROM 2 PM TO 4 PM!!! Welcome to this charming 3-bedroom, 1-bath bungalow in the heart of Midtown Mobile—ideal for both first-time home buyers and investors. This home pairs classic character with meaningful updates and valuable seller incentives. Recent improvements include new carpet, a new water heater, new laminate kitchen countertops, new kitchen cabinets, and tile flooring in the kitchen and laundry rooms. Bedrooms feature digital wall heaters for efficient supplemental warmth. Even more appealing, the seller is willing to make any needed repairs and is open to assisting with down payment and/or closing costs, making this an excellent opportunity for buyers seeking affordability and support. The property offers an enclosed front porch, off-street parking, and a level, low-maintenance yard. Its convenient location places you minutes from downtown, hospitals, parks, and local dining—ideal for both living and leasing. Whether you're purchasing your first home or expanding an investment portfolio, this property offers charm, updates, flexibility, and long-term value.

18. 2025-11-24
    listed $100,000 Active 1128-char remark

    Show marketing remark (1128 chars)

    OPEN HOUSE!!! SUNDAY, MAY 24TH, FROM 2 PM TO 4 PM!!! Welcome to this charming 3-bedroom, 1-bath bungalow in the heart of Midtown Mobile—ideal for both first-time home buyers and investors. This home pairs classic character with meaningful updates and valuable seller incentives. Recent improvements include new carpet, a new water heater, new laminate kitchen countertops, new kitchen cabinets, and tile flooring in the kitchen and laundry rooms. Bedrooms feature digital wall heaters for efficient supplemental warmth. Even more appealing, the seller is willing to make any needed repairs and is open to assisting with down payment and/or closing costs, making this an excellent opportunity for buyers seeking affordability and support. The property offers an enclosed front porch, off-street parking, and a level, low-maintenance yard. Its convenient location places you minutes from downtown, hospitals, parks, and local dining—ideal for both living and leasing. Whether you're purchasing your first home or expanding an investment portfolio, this property offers charm, updates, flexibility, and long-term value.

19. 2025-03-14
    soldstatus $41,585 Closed 872-char remark

    Show marketing remark (872 chars)

    Prime Investment Opportunity! This distressed property is full of potential for investors seeking a rewarding renovation project. With solid structure but in need of a full rehab, this home is ideal for experienced flippers or buy-and-hold investors. Though compact at approximately 1,000 square feet, it offers endless possibilities for modern updates. Conveniently located near Ladd-Peebles Stadium, this is a fantastic opportunity to build equity in Mobile’s growing market. 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.

20. 2025-03-06
    historical Active Under Contract 872-char remark

    Show marketing remark (872 chars)

    Prime Investment Opportunity! This distressed property is full of potential for investors seeking a rewarding renovation project. With solid structure but in need of a full rehab, this home is ideal for experienced flippers or buy-and-hold investors. Though compact at approximately 1,000 square feet, it offers endless possibilities for modern updates. Conveniently located near Ladd-Peebles Stadium, this is a fantastic opportunity to build equity in Mobile’s growing market. 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.

21. 2025-02-26
    listed $55,000 Active 872-char remark

    Show marketing remark (872 chars)

    Prime Investment Opportunity! This distressed property is full of potential for investors seeking a rewarding renovation project. With solid structure but in need of a full rehab, this home is ideal for experienced flippers or buy-and-hold investors. Though compact at approximately 1,000 square feet, it offers endless possibilities for modern updates. Conveniently located near Ladd-Peebles Stadium, this is a fantastic opportunity to build equity in Mobile’s growing market. 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.

ⓘ 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: $555 · $46/mo
• Projected year-2 tax: $555 · $46/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 10/10 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: $14,072
• − Mortgage interest: −$5,041
• − Property taxes: −$555
• − Insurance: −$450
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$2,618
• Taxable income: $3,156
• Est. tax owed @ 24.0%: −$757
• After-tax cash flow: $3,691/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

+63.6% since first listed

5 events — show timeline

• 2026-03-03 Price Changed $90,000 GCMLS AL
• 2025-11-24 Listed $100,000 GCMLS AL
• 2025-03-14 Sold (MLS) $41,585 BCAR
• 2025-03-06 Contingent — BCAR
• 2025-02-26 Listed $55,000 BCAR

Property tax history

+1.3%/yr

Latest (2025): $555 · +4.8% YoY. Source: county tax records.