1707 Forrest St · Mobile, AL 36605

$109,900

3 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 64 Days on market

Built 1989 8,772 sqft lot $73/sqft · 77% above area

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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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom 2 bath home has a formal living room, plus additional den with wet bar, and 3 covered parking spaces. Tons of potential. Close to new airport. It won't last long. Property is in an estate and will require court approval. Activation of utilities for any/all inspections is the responsibility of the buyer.

Key facts

• 8,772 sq ft lot
• 3 parking spots
• Built 1989

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 fast (+8.3%/yr); 139 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 37% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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 + 8.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $84k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.22% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.50%
• DSCR: 1.60
• GRM: 6.8

CMA / ARV

• ARV (median comp): $62,236
• List price: $109,900
• Delta: 76.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1477 Fairfield St	0.09mi	3/2.0	1,488 (-1%)	6mo	$147,500	$99	89
1463 Fairfield St	0.19mi	3/2.5	1,552 (+3%)	13mo	$172,000	$111	73
1164 Evangeline St	0.63mi	3/2.0	1,546 (+3%)	4mo	$80,000	$52	63
1464 Barkley Dr W	0.30mi	4/2.0 (+1)	1,592 (+6%)	11mo	$32,000	$20	62
1820 Barkley Dr N	0.34mi	4/1.5 (+1)	1,418 (-6%)	11mo	$80,000	$56	58
1017 Houston St	0.70mi	3/2.0	1,435 (-5%)	3mo	$24,900	$17	57
1707 Belfast St	0.69mi	3/2.0	1,440 (-4%)	8mo	$33,000	$23	54
1612 Robert E Lee St	0.31mi	3/0.5	1,288 (-14%)	7mo	$53,000	$41	50
2063 Gimon Cir N	0.73mi	4/1.5 (+1)	1,558 (+4%)	8mo	$68,000	$44	46
1906 Maryvale St N	0.65mi	3/2.0	1,335 (-11%)	8mo	$80,000	$60	44
1654 Duval St	0.35mi	3/1.0	1,715 (+14%)	16mo	$71,000	$41	43
1700 Dominick St	0.56mi	3/2.0	1,280 (-15%)	17mo	$115,000	$90	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.37×
• Total profit: $11,303
• Equity at exit: $16,386

10-year hold

• IRR: 21.8%
• Equity multiple: 3.29×
• Total profit: $70,369
• Equity at exit: $9,502

Cash invested: $30,772 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,338 high
• Mortgage (P&I): −$576
• Tax from tax record: −$88 /mo · $1,059/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $346

Break-even live

Break-even rent $899

Max offer price $109,900

Occupancy floor 69%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	0.67mi
2068 Victory Ct Mobile, AL	4.0	1.0	1259	$1,225	$0.97	44d	1	0.71mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	44d	1	0.90mi
561 Dauphin Island Pkwy Mobile, AL	4.0	2.0	1389	$1,050	$0.76	44d	1	0.98mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	13d	1	1.01mi
817 Hawkins St Mobile, AL	3.0	1.0	1217	$1,200	$0.99	44d	1	1.04mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	44d	1	1.09mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	44d	1	1.12mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	44d	1	1.13mi
2425 Nortons Ln Unit C Mobile, AL	2.0	1.0	1050	$1,200	$1.14	44d	1	1.28mi
2425 Nortons Ln Unit D Mobile, AL	2.0	1.0	1050	$1,100	$1.05	13d	1	1.28mi
2055 Steiner St Mobile, AL	2.0	1.0	1797	$895	$0.50	44d	1	1.29mi
713 Iris Ave Mobile, AL	3.0	1.0	1617	$1,300	$0.80	21d	1	1.32mi
412 Pinehill Dr Mobile, AL	2.0	2.0	2000	$2,450	$1.23	13d	1	1.42mi
955 Cloverdale Dr Mobile, AL	3.0	1.5	1128	$1,125	$1.00	44d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $109,900 Active 64 DOM
2. 2026-06-17
   days on market $109,900 Active 63 DOM
3. 2026-06-16
   days on market $109,900 Active 62 DOM
4. 2026-06-15
   days on market $109,900 Active 61 DOM
5. 2026-06-14
   days on market $109,900 Active 59 DOM
6. 2026-06-13
   days on market $109,900 Active 58 DOM
7. 2026-06-10
   days on market $109,900 Active 56 DOM
8. 2026-06-09
   days on market $109,900 Active 55 DOM
9. 2026-06-08
   days on market $109,900 Active 54 DOM
10. 2026-06-07
    days on market $109,900 Active 53 DOM
11. 2026-06-05
    days on market $109,900 Active 50 DOM
12. 2026-06-03
    days on market $109,900 Active 49 DOM
13. 2026-06-02
    days on market $109,900 Active 48 DOM
14. 2026-06-01
    days on market $109,900 Active 47 DOM
15. 2026-05-31
    days on market $109,900 Active 46 DOM
16. 2026-05-30
    days on market $109,900 Active 45 DOM
17. 2026-04-15
    listed $109,900 Active 319-char remark

    Show marketing remark (319 chars)

    This 3 bedroom 2 bath home has a formal living room, plus additional den with wet bar, and 3 covered parking spaces. Tons of potential. Close to new airport. It won't last long. Property is in an estate and will require court approval. Activation of utilities for any/all inspections is the responsibility of the buyer.

18. 2018-02-19
    soldstatus $83,500

ⓘ 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: $1,059 · $88/mo
• Projected year-2 tax: $1,059 · $88/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 · 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: $16,050
• − Mortgage interest: −$6,156
• − Property taxes: −$1,059
• − Insurance: −$550
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$3,197
• Taxable income: $2,520
• Est. tax owed @ 24.0%: −$605
• After-tax cash flow: $3,550/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• 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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

+31.6% since first listed

2 events — show timeline

• 2026-04-15 Listed $109,900 GCMLS AL
• 2018-02-19 Sold (Public Records) $83,500 Public Records

Property tax history

+3.4%/yr

Latest (2018): $1,059 · +0.0% YoY. Source: county tax records.