324 Georgia St · Montgomery, AL 36104

$65,000

3 bd · 2.0 ba · 1,803 sqft · SingleFamily public records · 371 Days on market

Built 1950 6,534 sqft lot Est $63k · at est. ↓ 25% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.1/15.0
• 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

Charming 3-Bedroom, 2-Bathroom Home with Potential – Perfect for Investment or First-Time Buyers! This cozy 3-bedroom, 2-bathroom home offers a good opportunity to make it your own with a little TLC. Featuring a fully fenced backyard and a 2 car driveway. There is a kitchen and a generous dining room that's a nice place for both family meals and entertaining. The bedrooms come with wall-to-wall carpet, providing warmth and comfort, while the two bathrooms are conveniently located. Sold As-Is. One of the standout features of this property is the versatile BACK HOUSE, which could easily be transformed into a mother-in-law suite, workshop, or additional living space to suit your needs.

Key facts

• Versatile back house
• Generous dining room
• 2 car driveway

Tags

• FULLY FENCED BACKYARD
• 2 CAR DRIVEWAY
• GENEROUS DINING ROOM
• VERSATILE BACK HOUSE
• LARGE GATED PET ENCLOSURE

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Utilities: Unknown
• Home design: Single-story; Brick and wood siding construction; Built as reported in public records
• Construction: Brick and wood siding exterior; One story
• Exterior features: Fully fenced yard; Covered porch; Porch; Exterior storage

Interior

• Kitchen: Gas cooktop; Gas oven
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Interior features: Carpet flooring; One fireplace located outside
• Laundry & utility: Washer hookup; Dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $792 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.9% 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: 53 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,548/mo this rent would consume 55% of the median local household income ($34k/yr) (locally 641% 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 $449 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 371 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 371 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.38% ✓
• Cap rate: 20.92%
• Cash-on-cash: 52.23%
• DSCR: 3.32
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $63,105
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
154 W Hannon St	0.22mi	3/2.0	1,637 (-9%)	9mo	$2,500	$2	67
21 W Jeff Davis Ave	0.44mi	3/1.0	1,706 (-5%)	4mo	$10,000	$6	64
1286 S Lawrence St	0.60mi	3/2.0	1,909 (+6%)	3mo	$70,000	$37	60
1208 S Lawrence St	0.57mi	3/2.0	1,901 (+5%)	12mo	$120,000	$63	54
840 Sayre St	0.36mi	3/2.0	1,976 (+10%)	18mo	$70,000	$35	52
1555 S Court St	0.50mi	3/2.0	1,980 (+10%)	11mo	$45,000	$23	51
30 Flood St	0.38mi	3/1.0	1,585 (-12%)	12mo	$65,000	$41	48
1523 S Court St	0.48mi	3/2.0	2,002 (+11%)	14mo	$145,000	$72	48
936 S Lawrence St	0.58mi	3/1.0	1,710 (-5%)	16mo	$20,000	$12	47
526 Elm St E	0.54mi	4/3.5 (+1)	1,715 (-5%)	16mo	$60,000	$35	43
814 S Hull St	0.75mi	3/1.0	1,704 (-6%)	11mo	$25,000	$15	43
457 Holcombe St	0.70mi	3/3.0	1,641 (-9%)	15mo	$260,000	$158	36

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: 50.2%
• Equity multiple: 3.19×
• Total profit: $39,935
• Equity at exit: $9,692

10-year hold

• IRR: 55.6%
• Equity multiple: 6.48×
• Total profit: $99,792
• Equity at exit: $5,620

Cash invested: $18,200 (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 36104

• Active inventory: 53
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,548 high
• Mortgage (P&I): −$341
• Tax from tax record: −$62 /mo · $750/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $792

Break-even live

Break-even rent $545

Max offer price $65,000

Occupancy floor 44%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22 W Cromwell St Montgomery, AL	4.0	2.0	1645	$1,350	$0.82	21d	1	0.38mi
1314 S Court St Montgomery, AL	2.0	2.0	1650	$1,495	$0.91	13d	1	0.43mi
1020 S Lawrence St Montgomery, AL	2.0	1.0	1711	$2,000	$1.17	13d	1	0.60mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	43d	1	0.64mi
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	43d	1	0.91mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	1.05mi
1919 Norman Bridge Ct Unit 1043838P Montgomery, AL	4.0	3.0	1539	$4,108	$2.67	43d	1	1.08mi
428 Thorn Pl Montgomery, AL	2.0	1.0	1549	$1,450	$0.94	43d	1	1.16mi
519 Thorn Pl Montgomery, AL	2.0	1.0	1632	$650	$0.40	21d	1	1.18mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	21d	1	1.25mi
3225 McElvy St Montgomery, AL	3.0	2.0	1258	$1,350	$1.07	13d	1	1.31mi
3338 S Hull St Montgomery, AL	2.0	2.0	1311	$1,150	$0.88	21d	1	1.35mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	43d	1	1.38mi
3577 Whiting Ave Montgomery, AL	3.0	1.0	1269	$1,150	$0.91	43d	1	1.48mi

Listing history 9 events

1. 2026-06-07
   statusdays on market $65,000 Pending 371 DOM
2. 2026-06-03
   days on market $65,000 Contingent 369 DOM
3. 2026-06-02
   days on market $65,000 Contingent 368 DOM
4. 2026-06-01
   days on market $65,000 Contingent 367 DOM
5. 2026-05-31
   days on market $65,000 Contingent 366 DOM
6. 2026-05-30
   days on market $65,000 Contingent 365 DOM
7. 2026-02-18
   historical Contingent
8. 2026-01-16
   price $65,000
9. 2025-05-30
   listed $86,500 Active

ⓘ 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: $750 · $62/mo
• Projected year-2 tax: $750 · $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 · 20 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: $18,572
• − Mortgage interest: −$3,641
• − Property taxes: −$750
• − Insurance: −$325
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$1,891
• Taxable income: $8,993
• Est. tax owed @ 24.0%: −$2,158
• After-tax cash flow: $7,348/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): 10,535
• Household income: $33,823
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 641.0

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 (72%)
• Race & ethnicity: Black 72% White 20% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Swedish 2% Russian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 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: ▼ -101.13%
• Current HPI: 27.2384
• 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

-24.9% since first listed

3 events — show timeline

• 2026-02-18 Contingent — MAAR
• 2026-01-16 Price Changed $65,000 MAAR
• 2025-05-30 Listed $86,500 MAAR

Property tax history

+15.4%/yr

Latest (2025): $750 · +207.1% YoY. Source: county tax records.