3203 Texas St · Montgomery, AL 36110

$34,900

3 bd · 1.0 ba · 1,286 sqft · SingleFamily public records · 16 Days on market

Built 1954 0.29 ac lot Est $57k · 38% under ↓ 40% since listing

---

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

Listing remarks MLS

Large corner lot, very nice property, sold "as, is" excellent investment or first time buyers property

Key facts

• Functional kitchen
• Quiet neighborhood
• Single-story home

Tags

• SINGLE-STORY HOME
• QUIET NEIGHBORHOOD
• SPACIOUS LIVING ROOM
• SEPARATE DINING AREA
• FUNCTIONAL KITCHEN
• DURABLE SLAB FOUNDATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $614 ($7k/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: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.4% 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: schools C-, employment D, crime F.
• 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.
• Market conditions: 62 active listings in the ZIP; 37 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; 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago 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: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 3.08% ✓
• Cap rate: 27.40%
• Cash-on-cash: 75.37%
• DSCR: 4.35
• GRM: 2.7

CMA / ARV

• ARV (on-the-fly): $56,584
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3216 Texas St	0.05mi	3/1.0	1,353 (+5%)	1mo	$40,000	$30	88
3127 Texas St	0.05mi	3/1.0	1,260 (-2%)	8mo	$70,000	$56	88
1833 Midway St	0.29mi	3/1.0	1,175 (-9%)	1mo	$64,900	$55	71
3452 Harris St	0.28mi	3/1.0	1,400 (+9%)	1mo	$35,000	$25	71
1949 Johnson St	0.45mi	2/1.0 (-1)	1,296 (+1%)	2mo	$57,000	$44	71
1805 Texas Ct	0.24mi	4/1.0 (+1)	1,353 (+5%)	5mo	$62,500	$46	70
1827 Austin St	0.19mi	3/2.0	1,376 (+7%)	8mo	$56,000	$41	69
1641 N Yarbrough Ct	0.37mi	3/1.0	1,215 (-6%)	8mo	$75,000	$62	67
3129 Cabot St	0.26mi	3/2.0	1,099 (-14%)	1mo	$17,501	$16	59
3025 Baffin Dr	0.42mi	3/1.0	1,146 (-11%)	6mo	$50,000	$44	58
231 Shelly Ct	0.66mi	3/1.0	1,200 (-7%)	9mo	$59,000	$49	51
132 Amanda Ln	0.62mi	3/2.0	1,118 (-13%)	1mo	$45,000	$40	44

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: 75.3%
• Equity multiple: 4.42×
• Total profit: $33,450
• Equity at exit: $5,204

10-year hold

• IRR: 79.0%
• Equity multiple: 9.14×
• Total profit: $79,517
• 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 36110

• Home prices YoY: -34.8%
• Active inventory: 62
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$183
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $614

Break-even live

Break-even rent $298

Max offer price $34,900

Occupancy floor 38%

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 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3329 Texas St Montgomery, AL	3.0	1.0	1000	$1,100	$1.10	44d	1	0.15mi
3050 Willena Ave Montgomery, AL	3.0	1.0	1466	$985	$0.67	21d	1	0.21mi
3114 Cotton St Montgomery, AL	3.0	1.0	888	$1,100	$1.24	44d	1	0.22mi
1817 Texas Ct Montgomery, AL	3.0	1.0	925	$1,050	$1.14	21d	1	0.23mi
2107 Yarbrough Cir Montgomery, AL	3.0	1.0	910	$925	$1.02	44d	1	0.24mi
2111 Yarbrough St Montgomery, AL	3.0	1.0	962	$795	$0.83	44d	1	0.25mi
3452 Harris St Montgomery, AL	3.0	1.0	1400	$1,150	$0.82	21d	1	0.29mi
3042 George B Edmondson Dr Montgomery, AL	3.0	1.0	900	$860	$0.96	44d	1	0.33mi
3008 Cabot St Montgomery, AL	4.0	2.0	1300	$1,150	$0.88	44d	1	0.34mi
218 Broadway St Montgomery, AL	2.0	1.0	960	$895	$0.93	13d	1	0.38mi
2056 Midway St Montgomery, AL	3.0	1.0	1110	$985	$0.89	44d	1	0.38mi
1653 N Yarbrough Ct Montgomery, AL	3.0	1.0	1130	$950	$0.84	21d	1	0.38mi
298 Broadway St Montgomery, AL	2.0	1.0	896	$900	$1.00	44d	1	0.40mi
2076 Midway St Montgomery, AL	3.0	1.0	1068	$1,000	$0.94	44d	1	0.41mi
2019 Amos St Montgomery, AL	3.0	1.5	1134	$985	$0.87	44d	1	0.45mi
216 Gardendale Dr Montgomery, AL	3.0	1.0	900	$850	$0.94	21d	1	0.51mi
2001 Speigle St Montgomery, AL	3.0	1.0	1260	$1,035	$0.82	44d	1	0.64mi
3613 Erwin Dr Montgomery, AL	3.0	2.0	1092	$1,250	$1.14	44d	1	0.73mi
4029 Chelsea Dr Montgomery, AL	3.0	1.0	1000	$1,200	$1.20	44d	1	0.74mi
2503 Skyline Ave Montgomery, AL	3.0	1.0	1015	$1,150	$1.13	44d	1	0.76mi
207 Destin St Montgomery, AL	3.0	1.0	966	$695	$0.72	21d	1	0.80mi
16 Garden St Montgomery, AL	3.0	1.5	1008	$775	$0.77	44d	1	0.81mi
1324 Federal Dr Montgomery, AL	2.0	1.0	1000	$1,100	$1.10	44d	1	0.82mi
204 W Park Ave Montgomery, AL	3.0	1.0	1145	$850	$0.74	21d	1	0.85mi
3 Rotary St Montgomery, AL	3.0	1.0	1131	$925	$0.82	21d	1	0.91mi
942 Parkwood Ct Montgomery, AL	4.0	2.0	1752	$1,299	$0.74	13d	1	1.03mi
1024 Grenada Dr Montgomery, AL	3.0	1.0	1144	$1,125	$0.98	44d	1	1.17mi
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	21d	1	1.20mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	13d	1	1.32mi
740 Coliseum Blvd Unit 740A Montgomery, AL	2.0	1.0	1100	$895	$0.81	13d	1	1.34mi
105 Dyas Ct Montgomery, AL	3.0	1.0	1025	$1,095	$1.07	44d	1	1.38mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	44d	1	1.39mi
700 Coliseum Blvd Unit 700D Montgomery, AL	2.0	1.0	911	$895	$0.98	44d	1	1.41mi
517 N Florida St Unit B Montgomery, AL	2.0	1.0	900	$750	$0.83	44d	1	1.42mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	44d	1	1.44mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	44d	1	1.48mi
508 Glenmore Rd Montgomery, AL	2.0	1.0	1135	$1,000	$0.88	44d	1	1.49mi

Listing history 6 events

1. 2025-11-21
   status Pending
2. 2025-11-03
   listed $34,900 Active
3. 2006-10-06
   soldstatus $54,000
4. 2004-08-19
   soldstatus $29,000 112-char remark

   Show marketing remark (112 chars)

   Large corner lot, very nice property, sold "as, is" excellent investment or first time buyers property

5. 2003-12-05
   listed $30,500 112-char remark

   Show marketing remark (112 chars)

   Large corner lot, very nice property, sold "as, is" excellent investment or first time buyers property

6. 2001-11-06
   listed $57,850

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $451 · $38/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,895
• − Mortgage interest: −$1,955
• − Property taxes: −$451
• − Insurance: −$174
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$1,015
• Taxable income: $7,236
• Est. tax owed @ 24.0%: −$1,737
• After-tax cash flow: $5,629/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): 12,102
• Household income: $47,315
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 753.0

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 11% Two or more races 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 1%

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: ▼ -35.37%
• Current HPI: 66.3114
• 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

-39.7% since first listed

6 events — show timeline

• 2025-11-21 Pending — MAAR
• 2025-11-03 Listed $34,900 MAAR
• 2006-10-06 Sold (Public Records) $54,000 Public Records
• 2004-08-19 Sold (MLS) $29,000 MAAR
• 2003-12-05 Listed $30,500 MAAR
• 2001-11-06 Listed $57,850 MAAR

Property tax history

+8.8%/yr

Latest (2025): $451 · +1.5% YoY. Source: county tax records.