1128 South Dr · Mobile, AL 36605

$120,000

4 bd · 1.5 ba · 1,161 sqft · SingleFamily public records · 5 Days on market

Built 1963 1.10 ac lot Est $139k · 14% under

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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 +29.5/30.0
• ARV discount +13.7/15.0
• DSCR +10.0/10.0
• 1% rule +7.1/10.0
• 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

Large one acre lot, this four bedroom home is ready for your presence. There are two separate buildings in the back yard, both with power, perfect for a workshop or storage room. There is also an RV shed that can accommodate the largest of recreational vehicles. The roof is approximately 6 years old. the ac unit is approximately 5 1/2 years old (per the seller). Tons of potential. Hugefront and back yard to add on if needed or enjoy the peace and quiet of the area. Easy to show vacant. Buyer to verify all information during due diligence.

Key facts

• One acre lot
• Rv shed
• 1.1 acre lot

Tags

• ONE ACRE LOT
• TWO SEPARATE BUILDINGS
• RV SHED
• ROOF APPROXIMATELY 6 YEARS OLD
• HUGE FRONT AND BACK YARD

Property features AI

Finance

• HOA & community: No HOA transfer fees; No community features

Exterior

• Parking: Detached parking; RV access/parking; Single carport (1 carport space); Total covered/usable parking for 3 vehicles
• Utilities: Sewer available; Water available; Electric service for cooling; Gas (mobile gas)
• Home design: Single-family residence; One level
• Construction: Brick construction; Slab foundation; Composition roof; Building area reported as 1,161 square feet (agent measured)
• Exterior features: Fenced yard; Has a view; No waterfront; Lot approximately 1–3 acres; Storage building

Interior

• Kitchen: Dishwasher; Microwave; Electric range
• Bedrooms: Primary bedroom on the main/1st floor (primary bath combo); Bedroom 2 approximately 11.5 x 10.11; Bedroom 3 approximately 10.11 x 10.8; Bedroom 4 approximately 10.3 x 10.5
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; Primary bath is a half bath only
• Heating & cooling: Central electric cooling; Ceiling fans; Mobile gas available
• Interior features: Eat-in kitchen; Additional rooms (see remarks); Ceiling fans throughout; No fireplace; Unfurnished
• Laundry & utility: Storage structure on property

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 10.6% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 40% 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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $70k; list at $120k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $120,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.21% ✓
• Cap rate: 10.60%
• Cash-on-cash: 15.38%
• DSCR: 1.68
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $139,320
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1132 Shore Acres Dr	0.13mi	3/1.0 (-1)	1,136 (-2%)	5mo	$68,000	$60	80
1517 S Lartigue Ave	0.67mi	3/2.0 (-1)	1,166 (+0%)	10mo	$140,000	$120	53
3106 Bay Front Rd	0.25mi	3/2.0 (-1)	1,320 (+14%)	22mo	$343,000	$260	41

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: 8.2%
• Equity multiple: 1.34×
• Total profit: $11,429
• Equity at exit: $17,892

10-year hold

• IRR: 21.3%
• Equity multiple: 3.23×
• Total profit: $74,780
• Equity at exit: $10,375

Cash invested: $33,600 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $364

Break-even live

Break-even rent $994

Max offer price $120,000

Occupancy floor 70%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1806 Gill Rd Mobile, AL	3.0	2.0	1360	$1,250	$0.92	21d	1	1.09mi
1258 E Charmaine Cir Mobile, AL	3.0	1.0	1071	$1,350	$1.26	21d	1	1.17mi
3910 W Charmaine Cir Mobile, AL	3.0	1.0	1400	$1,200	$0.86	44d	1	1.28mi

Listing history 5 events

1. 2026-06-14
   statusdays on market $120,000 Pending 5 DOM
2. 2026-06-13
   days on market $120,000 Active 4 DOM
3. 2026-06-10
   days on market $120,000 Active 2 DOM
4. 2026-06-09
   remarks 544-char remark
5. 2026-06-09
   listed $120,000 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: $470 · $39/mo
• Projected year-2 tax: $492 · $41/mo
• Expected delta: +$22/yr (+$2/mo · 4.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°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: $17,454
• − Mortgage interest: −$6,722
• − Property taxes: −$470
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$3,491
• Taxable income: $2,581
• Est. tax owed @ 24.0%: −$619
• After-tax cash flow: $3,750/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

+72.7% since first listed

4 events — show timeline

• 2026-06-08 Listed $120,000 GCMLS AL
• 2026-06-08 Listed $120,000 BCAR
• 2020-09-30 Sold (MLS) $69,500 GCMLS AL
• 2020-09-28 Sold (Public Records) $69,500 Public Records

Property tax history

-14.2%/yr

Latest (2025): $470 · +2.5% YoY. Source: county tax records.