261 Gaston St · Mobile, AL 36603

$80,000

2 bd · 1.0 ba · 882 sqft · SingleFamily public records · 111 Days on market

Built 1987 1,663 sqft lot $91/sqft · 61% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Great Investment property!! Vinyl flooring throughout all high traffic areas. 3 bedrooms, 1 bathroom. Kitchen features white cabinets, granite countertops and stainless steel appliances. All bedrooms have carpet and fresh paint. The bathroom has tile flooring, granite countertops and tub/shower combo. Seller is a licensed REALTOR in the state of Alabama. Listing agent is related to the seller. Listing agent makes no representations to the accuracy of the square footage taken from tax records. Buyer or buyer's agent to verify all information deemed important.

Key facts

• Vinyl flooring
• White cabinets
• Tile flooring

Tags

• VINYL FLOORING
• WHITE CABINETS
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• TILE FLOORING
• TUB SHOWER COMBO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.8% 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: 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); John L Leflore Magnet School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 618 students, 84% FRL) — zoned schools average 91% FRL vs 67% district-wide (24 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: 36 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($553 loan paydown + $1k 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.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.

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 $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.55% ✓
• Cap rate: 13.80%
• Cash-on-cash: 26.80%
• DSCR: 2.19
• GRM: 5.4

CMA / ARV

• ARV (median comp): $49,578
• List price: $80,000
• Delta: 61.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 Lyons St	0.16mi	2/1.0	962 (+9%)	15mo	$45,000	$47	65
1452 Delusser St	0.60mi	2/1.0	938 (+6%)	17mo	$30,000	$32	48
1510 Congress St	0.63mi	3/1.0 (+1)	941 (+7%)	13mo	$64,900	$69	44
1104 Old Shell Rd	0.38mi	2/2.0	1,000 (+13%)	22mo	$168,000	$168	38

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: 29.7%
• Equity multiple: 2.54×
• Total profit: $34,592
• Equity at exit: $28,657

10-year hold

• IRR: 31.8%
• Equity multiple: 4.91×
• Total profit: $87,637
• Equity at exit: $39,146

Cash invested: $22,400 (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 36603

• Home prices YoY: 2.8%
• Active inventory: 36
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$420
• Tax from tax record: −$26 /mo · $318/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $500

Break-even live

Break-even rent $607

Max offer price $80,000

Occupancy floor 55%

Sensitivity live

Price	-10% $545	-5% $523	+0% $500	+5% $478	+10% $455
Rent	-10% $402	-5% $451	+0% $500	+5% $549	+10% $598
Rate	-1.0pp $540	-0.5pp $521	base $500	+0.5pp $479	+1.0pp $458

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1254 Old Shell Rd Mobile, AL	1.0–2.0	1.0	660	$975	$1.48	15d	4	0.29mi
57 N Ann St Unit 1043453P Mobile, AL	2.0	2.0	1065	$2,015	$1.89	22d	1	0.44mi
430 Saint Louis St Mobile, AL	1.0	1.0–1.5	968	$1,614	$1.67	15d	2	0.83mi
12 S Catherine St Unit 2 Mobile, AL	1.0	1.0	700	$725	$1.04	22d	1	0.93mi
412 Dauphin St Mobile, AL	2.0	1.0–2.5	1553	$2,350	$1.51	15d	2	0.94mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	45d	1	1.05mi
350 Saint Joseph St #207 Mobile, AL	2.0	1.0	576	$1,400	$2.43	45d	1	1.06mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	22d	1	1.06mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	45d	1	1.06mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	22d	1	1.08mi
1013 Elmira St Unit B Mobile, AL	1.0	1.0	547	$745	$1.36	22d	1	1.16mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	22d	1	1.16mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	45d	1	1.20mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	45d	1	1.35mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	45d	2	1.48mi

Listing history 21 events

1. 2026-06-21
   days on market $80,000 Active 111 DOM
2. 2026-06-18
   days on market $80,000 Active 108 DOM
3. 2026-06-17
   days on market $80,000 Active 107 DOM
4. 2026-06-16
   days on market $80,000 Active 106 DOM
5. 2026-06-15
   days on market $80,000 Active 105 DOM
6. 2026-06-14
   days on market $80,000 Active 103 DOM
7. 2026-06-13
   pricedays on market $80,000 Active 102 DOM
8. 2026-06-10
   days on market $85,000 Active 100 DOM
9. 2026-06-09
   days on market $85,000 Active 99 DOM
10. 2026-06-08
    days on market $85,000 Active 98 DOM
11. 2026-06-07
    days on market $85,000 Active 97 DOM
12. 2026-06-05
    days on market $85,000 Active 94 DOM
13. 2026-06-03
    days on market $85,000 Active 93 DOM
14. 2026-06-02
    days on market $85,000 Active 92 DOM
15. 2026-06-01
    days on market $85,000 Active 91 DOM
16. 2026-05-31
    days on market $85,000 Active 90 DOM
17. 2026-05-30
    days on market $85,000 Active 89 DOM
18. 2026-04-15
    price $85,000 564-char remark

    Show marketing remark (564 chars)

    Great Investment property!! Vinyl flooring throughout all high traffic areas. 3 bedrooms, 1 bathroom. Kitchen features white cabinets, granite countertops and stainless steel appliances. All bedrooms have carpet and fresh paint. The bathroom has tile flooring, granite countertops and tub/shower combo. Seller is a licensed REALTOR in the state of Alabama. Listing agent is related to the seller. Listing agent makes no representations to the accuracy of the square footage taken from tax records. Buyer or buyer's agent to verify all information deemed important.

19. 2026-04-02
    price $90,000 564-char remark

    Show marketing remark (564 chars)

    Great Investment property!! Vinyl flooring throughout all high traffic areas. 3 bedrooms, 1 bathroom. Kitchen features white cabinets, granite countertops and stainless steel appliances. All bedrooms have carpet and fresh paint. The bathroom has tile flooring, granite countertops and tub/shower combo. Seller is a licensed REALTOR in the state of Alabama. Listing agent is related to the seller. Listing agent makes no representations to the accuracy of the square footage taken from tax records. Buyer or buyer's agent to verify all information deemed important.

20. 2026-03-03
    listed $100,000 Active 564-char remark

    Show marketing remark (564 chars)

    Great Investment property!! Vinyl flooring throughout all high traffic areas. 3 bedrooms, 1 bathroom. Kitchen features white cabinets, granite countertops and stainless steel appliances. All bedrooms have carpet and fresh paint. The bathroom has tile flooring, granite countertops and tub/shower combo. Seller is a licensed REALTOR in the state of Alabama. Listing agent is related to the seller. Listing agent makes no representations to the accuracy of the square footage taken from tax records. Buyer or buyer's agent to verify all information deemed important.

21. 2023-03-07
    soldstatus $225,000

ⓘ 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: $318 · $26/mo
• Projected year-2 tax: $328 · $27/mo
• Expected delta: +$10/yr (+$1/mo · 3.3%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $14,878
• − Mortgage interest: −$4,481
• − Property taxes: −$318
• − Insurance: −$400
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$2,327
• Taxable income: $4,972
• Est. tax owed @ 24.0%: −$1,193
• After-tax cash flow: $4,809/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
• City population: 205,729
• Population (ZIP): 7,805

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 (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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

Industry mix (Fortune 500 HQ in AL)

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

Price history

-62.2% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $85,000 GCMLS AL
• 2026-04-02 Price Changed $90,000 GCMLS AL
• 2026-03-03 Listed $100,000 GCMLS AL
• 2023-03-07 Sold (Public Records) $225,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $318 · +6.8% YoY. Source: county tax records.