163 State St Unit A · Mobile, AL 36603

$199,900

2 bd · 1.5 ba · 1,155 sqft · Condo · 47 Days on market

Built 1830 Good condition $173/sqft · 16% below area Est $237k · 16% under $450/mo HOA · 30% of rent ↓ 5% 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).

• ARV discount +14.5/15.0
• Appreciation +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Cash flow +3.1/30.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Schools +0.8/10.0
• DSCR +0.0/10.0

Listing remarks

Welcome to effortless downtown living in the heart of DeTonti Square Historic District—one of Mobile’s most charming and rapidly revitalizing areas. This beautifully remodeled historic condo blends classic character with modern upgrades, offering the best of both worlds. Located in a quaint 4-unit building, this lower-level Unit A provides easy access and low-maintenance living in an unbeatable location. From the moment you step inside, you’ll notice the attention to detail.

Key facts

• 4 unit building
• Updated kitchen
• New cabinetry

Tags

• REMODELED HISTORIC CONDO
• 4 UNIT BUILDING
• LOW MAINTENANCE LIVING
• LUXURY VINYL PLANK FLOORING
• UPDATED KITCHEN
• NEW CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $46k (77.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (24.4% below list).
• Recommended offer: $46k (77.0% below list) — sets the bar for cash-flow.
• Cap rate 2.5% vs local median 5.3% in Mobile — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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.
• Zoned schools: Florence Howard Elementary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 488 students, 94% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% FRL); Ben C Rain High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 589 students, 90% FRL) — zoned schools average 93% FRL vs 67% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 8% at this address vs 27% district-wide (-19 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 52 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.3% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: flood insurance adds $427/mo; HOA is 30% of rent; built in 1830 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,010 (77.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 77% concession, seller financing, or rate buy-down credit?
3. Built in 1830 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.76% ✗
• Cap rate: 2.47%
• Cash-on-cash: -13.66%
• DSCR: 0.39
• GRM: 11.0

CMA / ARV

• ARV (median comp): $236,707
• List price: $199,900
• Delta: -15.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
161 State St Unit B	0.01mi	2/2.0	1,155 (0%)	0mo	$195,000	$169	97
308 St Louis St #116	0.18mi	1/1.0 (-1)	1,230 (+6%)	4mo	$248,000	$202	70
1150 Old Shell Rd	1.12mi	2/1.0	1,135 (-2%)	0mo	$185,000	$163	60
952 Elmira St	1.34mi	2/1.5	1,203 (+4%)	2mo	$255,000	$212	56
912 Charleston St	1.05mi	1/2.0 (-1)	1,144 (-1%)	2mo	$245,000	$214	54
204 Conti St Unit 1B	0.35mi	1/1.0 (-1)	955 (-17%)	5mo	$210,000	$220	48
501 Dauphin St St Unit E	0.46mi	2/3.0	1,397 (+21%)	1mo	$385,750	$276	46
350 Charles St	1.26mi	2/2.0	1,256 (+9%)	4mo	$345,000	$275	45
259 Warren St N	0.45mi	3/1.0 (+1)	1,360 (+18%)	4mo	$135,000	$99	44
55 N Warren St #1	0.56mi	1/1.5 (-1)	1,400 (+21%)	4mo	$226,500	$162	40
261 Gaston St	1.04mi	2/1.0	882 (-24%)	2mo	$78,000	$88	36
14 Julia St N	1.47mi	1/1.0 (-1)	990 (-14%)	2mo	$195,000	$197	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.0%
• Equity multiple: -0.08×
• Total profit: $-60,273
• Equity at exit: $71,607

10-year hold

• IRR: -13.2%
• Equity multiple: -0.71×
• Total profit: $-95,937
• Equity at exit: $97,817

Cash invested: $55,972 (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 →

Active competition Active MLS

• For sale now: 0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36603

• Home prices YoY: 2.8%
• Active inventory: 52
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,512 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,998/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$450
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-1,064

Break-even live

Break-even rent $2,858

Max offer price $46,010

Occupancy floor —

Sensitivity live

Price	-10% $-925	-5% $-994	+0% $-1,064	+5% $-1,133	+10% $-1,202
Rent	-10% $-1,183	-5% $-1,123	+0% $-1,064	+5% $-1,004	+10% $-944
Rate	-1.0pp $-963	-0.5pp $-1,013	base $-1,064	+0.5pp $-1,115	+1.0pp $-1,168

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: $49,975
• Closing costs: $5,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
316 Jackson St Chickasaw, AL	3.0	1.0	1291	$1,100	$0.85	1d	1	0.16mi
430 Saint Louis St Mobile, AL	2.0	2.0	1017	$2,045	$2.01	10d	2	0.30mi
204 Conti St Unit 1A Mobile, AL	1.0	1.0	1200	$2,000	$1.67	184d	1	0.38mi
412 Dauphin St Mobile, AL	2.0	1.0–2.5	1553	$2,350	$1.51	154d	2	0.40mi
0 Dauphin St Mobile, AL	2.0	1.0	864	$2,450	$2.84	51d	1	0.40mi
505 Saint Francis St Mobile, AL	3.0	2.0	1384	$2,250	$1.63	10d	1	0.44mi
459 Dauphin St Apt D Mobile, AL	2.0	2.0	1200	$1,595	$1.33	10d	1	0.46mi
558 Saint Francis St Unit 2D Mobile, AL	1.0	1.0	1150	$1,550	$1.35	184d	1	0.48mi
110 S Dearborn St Apt 3 Mobile, AL	1.0	1.5	800	$1,095	$1.37	10d	1	0.70mi
921 Dauphin St Unit 2C Mobile, AL	1.0	1.0	743	$1,650	$2.22	31d	1	0.93mi
158 Kennedy St Mobile, AL	1.0	1.0	775	$775	$1.00	16d	1	1.02mi
1108 Oak St Unit 5 Mobile, AL	2.0	1.0	870	$795	$0.91	10d	1	1.05mi
956 Conti St Unit A Mobile, AL	2.0	1.0	720	$1,300	$1.81	51d	1	1.05mi
1155 New Saint Francis St Unit 1 Mobile, AL	2.0	1.0	1300	$1,000	$0.77	1d	1	1.14mi
1304 Hercules St Unit 1306 Mobile, AL	1.0	1.0	850	$775	$0.91	2d	1	1.20mi
410 S Washington Ave Mobile, AL	1.0–2.0	1.0	818	$1,017	$1.24	0d	4	1.21mi
1254 Old Shell Rd Mobile, AL	1.0–2.0	1.0	660	$1,040	$1.58	2d	6	1.21mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	162d	1	1.25mi
57 N Ann St Unit 1043547P Mobile, AL	1.0–7.0	1.0–5.0	1092	$3,984	$3.65	2d	3	1.31mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,527	$1.78	2d	1	1.38mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	162d	1	1.42mi
262 Roper St Unit A Mobile, AL	2.0	1.5	1455	$1,600	$1.10	10d	1	1.44mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	10d	2	1.46mi
1404 Saint Stephens Rd Apt F Mobile, AL	2.0	1.0	776	$750	$0.97	51d	1	1.47mi
1404 Saint Stephens Rd Apt H Mobile, AL	2.0	1.0	776	$750	$0.97	10d	1	1.47mi
1160 Elmira St Apt 10 Mobile, AL	2.0	1.0	950	$1,200	$1.26	14d	1	1.48mi

Property features AI

Finance

• HOA & community: Monthly association fee of $450

Exterior

• Parking: Parking lot
• Utilities: Cable availableElectricity available (110V and 220V)Natural gas availablePublic sewer
• Home design: Residential condominiumView available
• Construction: Brick 4-sides constructionComposition roofSlab foundationBuilt in 1830
• Exterior features: No exterior or yard features listedNo fencing

Interior

• Kitchen: Breakfast barWhite cabinetsDishwasherGas rangeMicrowaveRefrigeratorDisposalElectric water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Crown moldingHigh 10-ft ceilingsBrick fireplaceWindow treatments
• Laundry & utility: Washer/dryer connections (appliances not specified)

HOA detail $450/mo · $5,400/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-11-08
   days on market $199,900 Active 47 DOM
2. 2026-11-07
   days on market $199,900 Active 46 DOM
3. 2026-11-06
   days on market $199,900 Active 45 DOM
4. 2026-11-05
   days on market $199,900 Active 44 DOM
5. 2026-11-04
   days on market $199,900 Active 43 DOM
6. 2026-11-02
   days on market $199,900 Active 41 DOM
7. 2026-11-01
   days on market $199,900 Active 40 DOM
8. 2026-10-31
   days on market $199,900 Active 39 DOM
9. 2026-10-30
   days on market $199,900 Active 38 DOM
10. 2026-10-29
    days on market $199,900 Active 37 DOM
11. 2026-10-28
    days on market $199,900 Active 36 DOM
12. 2026-10-27
    days on market $199,900 Active 35 DOM
13. 2026-10-26
    days on market $199,900 Active 34 DOM
14. 2026-10-25
    days on market $199,900 Active 33 DOM
15. 2026-10-24
    days on market $199,900 Active 32 DOM
16. 2026-10-23
    days on market $199,900 Active 31 DOM
17. 2026-10-22
    days on market $199,900 Active 30 DOM
18. 2026-10-21
    days on market $199,900 Active 29 DOM
19. 2026-10-21
    status $199,900 Active 28 DOM
20. 2026-04-26
    historical $1,750
21. 2026-04-23
    listed $199,900 Active 1842-char remark
22. 2026-03-18
    price $1,750
23. 2026-03-04
    price $1,850
24. 2026-02-28
    price $1,700
25. 2026-02-26
    listed $1,850

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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: $18,144
• − Mortgage interest: −$11,198
• − Property taxes: −$2,998
• − Insurance: −$6,118
• − Repairs & maintenance: −$1,452
• − Management: −$1,452
• − HOA: −$5,400
• − Depreciation: −$5,815
• Taxable loss: −$16,288
• Est. tax savings @ 24.0%: +$3,909
• After-tax cash flow: $-8,853/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,775–$17,325 screening

This beautifully remodeled historic condo in the heart of DeTonti Square Historic District offers a blend of classic character and modern upgrades, making it an ideal investment property.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — fresh paint can make a home more appealing ↑
• Rental furniture — updated furniture can attract tenants ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 8/100

Zoned Schools

Elementary Florence Howard Elementary School F AL #536/627 Nat'l #37,719/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Ben C Rain High School F AL #291/305 Nat'l #17,145/17,239

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

B Composite livability gradescore 75/100

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 · 415,303 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 7,805
• Household income: $27,083
• Rent vs Own: 67.2% rent · 32.8% own
• Severe rent burden: 15% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Languages at home: 99% English-only · Spanish 1%

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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: ▲ 1.32%
• Current HPI: 48.9551
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Property features AI

Finance

• HOA & community: Monthly association fee of $450

Exterior

• Parking: Parking lot
• Utilities: Cable availableElectricity available (110V and 220V)Natural gas availablePublic sewer
• Home design: Residential condominiumView available
• Construction: Brick 4-sides constructionComposition roofSlab foundationBuilt in 1830
• Exterior features: No exterior or yard features listedNo fencing

Interior

• Kitchen: Breakfast barWhite cabinetsDishwasherGas rangeMicrowaveRefrigeratorDisposalElectric water heater
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom1 half bathroom
• Heating & cooling: Central heatingCentral air conditioning
• Interior features: Crown moldingHigh 10-ft ceilingsBrick fireplaceWindow treatments
• Laundry & utility: Washer/dryer connections (appliances not specified)

Price history

-5.4% since first listed

7 events — show timeline

• 2026-05-22 Pending — GCMLS AL
• 2026-04-26 Rental Removed $1,750 APPFOLIO
• 2026-04-23 Listed $199,900 GCMLS AL
• 2026-03-18 Price Changed $1,750 APPFOLIO
• 2026-03-04 Price Changed $1,850 APPFOLIO
• 2026-02-28 Price Changed $1,700 APPFOLIO
• 2026-02-26 Listed for Rent $1,850 APPFOLIO