2440 Highland Ave · Montgomery, AL 36107

$95,977

3 bd · 2.0 ba · 1,500 sqft · SingleFamily public records · 6 Days on market

Built 1926 7,405 sqft lot Est $66k · 45% over

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Why this score? — see what drove the C 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
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Key facts

• 7,405 sq ft lot
• 4 garage spots
• Built 1926

Property features AI

Finance

• Other: Home warranty included

Exterior

• Parking: Driveway; Attached garage with 4 spaces
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story; Brick construction; Slab foundation
• Construction: Brick exterior; Built (year per public records)
• Exterior features: Workshop; City lot

Interior

• Kitchen: Electric cooktop; Electric oven; Refrigerator
• Flooring: Wood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Attic with pull-down attic stairs; Storage; Window treatments (blinds)
• Laundry & utility: Washer hookup; Dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $381 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Cap rate 11.1% 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: Rents rising fast (+5.0%/yr); 67 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $1,248/mo this rent would consume 46% of the median local household income ($32k/yr) (locally 642% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $664 of loan paydown is wiped out by about $3k 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 + 5.0% rent growth), your $27k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 15y 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.
• Current owner paid $53k; list at $96k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,977

Questions for the listing agent

1. Built in 1926 — 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: 1.30% ✓
• Cap rate: 11.05%
• Cash-on-cash: 17.00%
• DSCR: 1.76
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $66,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2430 Plum St	0.08mi	3/2.0	1,388 (-8%)	6mo	$89,000	$64	79
2627 Geneva St	0.35mi	4/2.0 (+1)	1,526 (+2%)	4mo	$83,000	$54	73
441 Buford St	0.25mi	3/2.0	1,641 (+9%)	8mo	$40,000	$24	66
1814 James Ave	0.54mi	3/2.0	1,425 (-5%)	1mo	$61,000	$43	66
1839 James Ave	0.53mi	3/1.0	1,520 (+1%)	4mo	$50,000	$33	66
510 Ryan St	0.16mi	2/1.0 (-1)	1,391 (-7%)	8mo	$118,500	$85	65
1835 James Ave	0.53mi	3/2.0	1,648 (+10%)	8mo	$142,000	$86	52
2121 E 3rd St	0.67mi	3/1.0	1,600 (+7%)	4mo	$15,000	$9	50
2148 Madison Ave	0.56mi	3/1.0	1,350 (-10%)	4mo	$60,000	$44	50
323 Boyce St	0.46mi	2/1.0 (-1)	1,330 (-11%)	8mo	$57,250	$43	44
2134 Winona Ave	0.73mi	3/1.0	1,664 (+11%)	1mo	$101,700	$61	42
105 Dunn Dr	0.69mi	2/1.0 (-1)	1,295 (-14%)	7mo	$50,600	$39	30

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 10.4%
• Equity multiple: 1.42×
• Total profit: $11,298
• Equity at exit: $14,310

10-year hold

• IRR: 21.0%
• Equity multiple: 2.94×
• Total profit: $52,223
• Equity at exit: $8,298

Cash invested: $26,874 (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 36107

• Home prices YoY: -10.9%
• Rents YoY: 5.0%
• Active inventory: 67
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,248 high
• Mortgage (P&I): −$503
• Tax from tax record: −$62 /mo · $742/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $381

Break-even live

Break-even rent $766

Max offer price $95,977

Occupancy floor 64%

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: $23,994
• Closing costs: $2,879
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2009 Palmetto St Montgomery, AL	3.0	1.0	1487	$1,050	$0.71	43d	1	0.33mi
2000 Cherry St Montgomery, AL	2.0	1.0	1106	$950	$0.86	43d	1	0.36mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	43d	1	0.41mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	13d	1	0.52mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	43d	1	0.56mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	43d	1	0.61mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	43d	1	0.62mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	13d	1	0.62mi
128 S Capitol Pkwy Montgomery, AL	3.0	1.0	1550	$1,500	$0.97	43d	1	0.66mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	21d	1	0.68mi
2020 E 3rd St Montgomery, AL	2.0	1.0	1186	$750	$0.63	21d	1	0.73mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	43d	1	0.75mi
39 S Lewis St Montgomery, AL	2.0	1.0	1209	$950	$0.79	43d	1	0.77mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	21d	1	0.78mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	21d	1	0.78mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	21d	1	0.81mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	13d	1	0.81mi
2310 Yancey Ave Montgomery, AL	3.0	1.0	1212	$1,250	$1.03	43d	1	0.82mi
2009 Yancey Ave Montgomery, AL	3.0	1.0	1140	$1,080	$0.95	21d	1	0.86mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	43d	1	0.94mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	0.96mi
2014 Commodore St Montgomery, AL	3.0	2.0	1613	$1,450	$0.90	13d	1	0.98mi
2043 Hazel Hedge Ln Montgomery, AL	4.0	3.0	2001	$1,650	$0.82	13d	1	1.00mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	1.03mi
2045 Bullard St Unit 1043526P Montgomery, AL	3.0	2.0	1797	$2,198	$1.22	43d	1	1.04mi
19 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	2022	$795	$0.39	43d	1	1.04mi
1501 Winona Ave Montgomery, AL	2.0	1.0	1930	$1,000	$0.52	21d	1	1.05mi
2053 Gorgas St Montgomery, AL	3.0	1.0	1955	$1,200	$0.61	21d	1	1.06mi
3323 Bedford Ln Montgomery, AL	3.0	2.0	1134	$1,200	$1.06	21d	1	1.06mi
2226 Carter Hill Rd Montgomery, AL	2.0	1.0	1506	$905	$0.60	43d	1	1.07mi
1814 Pinecrest Dr Montgomery, AL	3.0	1.0	1053	$990	$0.94	43d	1	1.08mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	21d	1	1.09mi
2736 Chevy Chase Dr Montgomery, AL	3.0	1.0	1100	$1,300	$1.18	43d	1	1.09mi
1827 Pinecrest Dr Montgomery, AL	4.0	3.0	1893	$1,550	$0.82	13d	1	1.10mi
3318 Habersham Rd Montgomery, AL	3.0	2.0	1134	$1,250	$1.10	13d	1	1.11mi
3346 Bedford Ln Montgomery, AL	3.0	1.0	1134	$1,295	$1.14	13d	1	1.12mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	13d	1	1.13mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	13d	1	1.13mi
1008 Pelham St Montgomery, AL	4.0	2.0	1288	$1,300	$1.01	43d	1	1.14mi
3359 Bedford Ln Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	13d	1	1.15mi

Listing history 5 events

1. 2026-06-18
   days on market $95,977 Active 6 DOM
2. 2026-06-17
   days on market $95,977 Active 5 DOM
3. 2026-06-16
   days on market $95,977 Active 4 DOM
4. 2026-06-15
   days on market $95,977 Active 3 DOM
5. 2026-06-13
   listed $95,977 Active 1 DOM

ⓘ 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: $742 · $62/mo
• Projected year-2 tax: $742 · $62/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 ≥107°F today · 19 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: $14,973
• − Mortgage interest: −$5,376
• − Property taxes: −$742
• − Insurance: −$480
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$2,792
• Taxable income: $3,188
• Est. tax owed @ 24.0%: −$765
• After-tax cash flow: $3,802/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): 8,001
• Household income: $32,492
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 642.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 43% White 27% Hispanic / Latino 23% Two or more races 20%
• Hispanic origin (detail): Mexican 8% Cuban 3%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 13%

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: ▼ -18.16%
• Current HPI: 147.8065
• Rent YoY: ▲ 5.05%
• 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

+539.8% since first listed

3 events — show timeline

• 2026-06-12 Listed $95,977 MAAR
• 2019-07-24 Sold (Public Records) $53,400 Public Records
• 2011-05-13 Listed $15,000 MAAR

Property tax history

+5.4%/yr

Latest (2025): $742 · +6.7% YoY. Source: county tax records.