6054 Half Mile Rd · Theodore, AL 36582

$189,199

3 bd · 2.0 ba · 1,422 sqft · SingleFamily public records · 83 Days on market

Built 1980 0.60 ac lot $133/sqft · 28% below area Est $331k · 43% under ↓ 16% since listing

---

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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

Key facts

• 0.6 acre lot
• Built 1980
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (15.9% below list).
• Recommended offer: $159k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 5.0% in Theodore — 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 64/100 on livability (#145 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• 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: 250 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($178k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,205 (15.9% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 16% 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. 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.
6. 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.
7. 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: 0.84% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 9.9

CMA / ARV

• ARV (median comp): $331,118
• List price: $189,199
• Delta: -42.86%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -12.8%
• Equity multiple: 0.54×
• Total profit: $-24,507
• Equity at exit: $28,210

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-13,604
• Equity at exit: $16,358

Cash invested: $52,976 (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 36582

• Home prices YoY: -19.1%
• Active inventory: 250
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,592 medium
• Mortgage (P&I): −$992
• Tax from tax record: −$89 /mo · $1,069/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $98

Break-even live

Break-even rent $1,468

Max offer price $189,199

Occupancy floor 89%

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: $47,300
• Closing costs: $5,676
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6880 Williamsburg Ct Irvington, AL	3.0	1.5	1128	$1,200	$1.06	21d	1	1.29mi

Listing history 5 events

1. 2026-05-05
   status Pending 587-char remark

   Show marketing remark (587 chars)

   NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

2. 2026-04-08
   price $189,199 587-char remark

   Show marketing remark (587 chars)

   NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

3. 2026-03-06
   price $199,219 587-char remark

   Show marketing remark (587 chars)

   NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

4. 2026-02-26
   price $219,235 587-char remark

   Show marketing remark (587 chars)

   NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

5. 2026-02-10
   listed $225,235 Active 587-char remark

   Show marketing remark (587 chars)

   NEW PRICE 199,219K VRM same spacious 3br 2ba home has a fresh coat of paint inside and is move in ready. You can rest and relax in the living room in front of the wood burning fireplace on those cold winter days. The kitchen has a new stainless steel refrigerator and plenty of cabinets. The bonus room can be used for a workshop, office or extra bedroom. The fenced in back yard offers a lot of outdoor space for whatever your needs may be. This home qualifies for 100% USDA financing. Schedule a showing today. All information per seller, to be verified by buyer and/or buyers agent.

ⓘ 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: $1,069 · $89/mo
• Projected year-2 tax: $1,069 · $89/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $19,105
• − Mortgage interest: −$10,598
• − Property taxes: −$1,069
• − Insurance: −$946
• − Repairs & maintenance: −$1,528
• − Management: −$1,528
• − Depreciation: −$5,504
• Taxable loss: −$2,069
• Est. tax savings @ 24.0%: +$497
• After-tax cash flow: $1,668/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 — Theodore

• Score: 64/100
• State rank: #145
• US rank: #13651

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C+ Housing A+ Health & safety F User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mobile County · 246,577 people
• City population: 23,705
• Metro: Mobile, AL
• Population (ZIP): 23,705
• Household income: $64,763
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 431.0

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 White (73%)
• Race & ethnicity: White 73% Black 18% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3% Vietnamese 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: ▼ -49.61%
• Current HPI: 209.7621
• Rent YoY: —
• 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

-16.0% since first listed

5 events — show timeline

• 2026-05-05 Pending — GCMLS AL
• 2026-04-08 Price Changed $189,199 GCMLS AL
• 2026-03-06 Price Changed $199,219 GCMLS AL
• 2026-02-26 Price Changed $219,235 GCMLS AL
• 2026-02-10 Listed $225,235 GCMLS AL

Property tax history

+2.6%/yr

Latest (2025): $1,069 · +5.9% YoY. Source: county tax records.