1721 Madison Ave · Montgomery, AL 36104

$89,900

3 bd · 2.0 ba · 1,474 sqft · MultiFamily public records · 14 Days on market

Built 1935 $61/sqft · 44% below area

---

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
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

WONDERFUL DUPLEX IN THE HEART OF CAPITOL HEIGHTS!!!!!!5TH BEDROOM ONE DUPLEX HAS TWO BEDROOM AND TWO BATH THE OTHER DUPLEX HAS ONE BEDROOM AND ONE BATH. THIS IS A GREAT INVESTMENT PROPERTY.

Key facts

• Parking
• Built 1935
• Listed 14 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Cable available; Natural gas available
• Home design: Brick construction; Single-story building; Slab foundation; Lot dimensions approximately 50 x 150
• Construction: Brick exterior; Built (year per public records)
• Exterior features: Partial fencing; City lot

Interior

• Kitchen: Kitchen on the second level
• Bedrooms: Bedroom on the second level; Bedroom on the third level
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning; Attic fan; Electric cooling
• Interior features: Carpet flooring; Tile flooring; Gas water heater
• Laundry & utility: Laundry room on the second level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 18.2% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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 $1,859/mo this rent would consume 66% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 27y ago 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,900

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.07% ✓
• Cap rate: 18.19%
• Cash-on-cash: 42.51%
• DSCR: 2.89
• GRM: 4.0

CMA / ARV

• ARV (median comp): $265,000
• List price: $89,900
• Delta: -66.08%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 39.2%
• Equity multiple: 2.68×
• Total profit: $42,222
• Equity at exit: $13,404

10-year hold

• IRR: 45.6%
• Equity multiple: 5.37×
• Total profit: $109,895
• Equity at exit: $7,773

Cash invested: $25,172 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,859 high
• Mortgage (P&I): −$471
• Tax from tax record: −$68 /mo · $817/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $892

Break-even live

Break-even rent $730

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $943	-5% $917	+0% $892	+5% $866	+10% $841
Rent	-10% $745	-5% $818	+0% $892	+5% $965	+10% $1,039
Rate	-1.0pp $937	-0.5pp $915	base $892	+0.5pp $868	+1.0pp $845

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$956
1× unit	1	1	$903
Total (2 units)			$1,859

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	44d	1	0.16mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	14d	1	0.16mi
39 S Lewis St Montgomery, AL	2.0	1.0	1209	$950	$0.79	44d	1	0.18mi
128 S Capitol Pkwy Montgomery, AL	3.0	1.0	1550	$1,500	$0.97	44d	1	0.25mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	14d	1	0.31mi
2009 Yancey Ave Montgomery, AL	3.0	1.0	1140	$1,080	$0.95	21d	1	0.35mi
508 Glenmore Rd Montgomery, AL	2.0	1.0	1135	$1,000	$0.88	44d	1	0.39mi
517 N Florida St Unit B Montgomery, AL	2.0	1.0	900	$750	$0.83	44d	1	0.44mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	44d	1	0.46mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	44d	1	0.46mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	44d	1	0.52mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	44d	1	0.52mi
2009 Palmetto St Montgomery, AL	3.0	1.0	1487	$1,050	$0.71	44d	1	0.53mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	21d	1	0.56mi
2310 Yancey Ave Montgomery, AL	3.0	1.0	1212	$1,250	$1.03	44d	1	0.62mi
1008 Pelham St Montgomery, AL	4.0	2.0	1288	$1,300	$1.01	44d	1	0.67mi
2000 Cherry St Montgomery, AL	2.0	1.0	1106	$950	$0.86	44d	1	0.78mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	14d	1	0.92mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	21d	1	0.93mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	21d	1	0.96mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	44d	1	1.00mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	44d	1	1.01mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	21d	1	1.02mi
2503 Skyline Ave Montgomery, AL	3.0	1.0	1015	$1,150	$1.13	44d	1	1.06mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	44d	1	1.06mi
108 Calhoun Rd Unit 108B Montgomery, AL	2.0	1.0	1350	$750	$0.56	44d	1	1.09mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	14d	1	1.15mi
2001 Speigle St Montgomery, AL	3.0	1.0	1260	$1,035	$0.82	44d	1	1.21mi
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	21d	1	1.25mi
2020 E 3rd St Montgomery, AL	2.0	1.0	1186	$750	$0.63	21d	1	1.25mi
1324 Federal Dr Montgomery, AL	2.0	1.0	1000	$1,100	$1.10	44d	1	1.30mi
2454 Spruce Curv Montgomery, AL	3.0	1.0	988	$1,100	$1.11	44d	1	1.34mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	1.35mi
2205 E 5th St Montgomery, AL	3.0	1.0	1020	$800	$0.78	44d	1	1.38mi
3319 Willow Lane Dr Montgomery, AL	3.0	2.0	1032	$1,200	$1.16	44d	1	1.40mi
200 Eton Rd Montgomery, AL	3.0	1.5	1500	$895	$0.60	14d	1	1.44mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	14d	1	1.44mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	44d	1	1.45mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	1.46mi
2019 Amos St Montgomery, AL	3.0	1.5	1134	$985	$0.87	44d	1	1.47mi

Listing history 5 events

1. 2026-05-13
   status Pending 191-char remark
2. 2026-04-28
   listed $89,900 Active 191-char remark
3. 2026-02-24
   soldstatus $1,631,600
4. 1999-05-21
   listed $99,900
5. 1999-02-19
   listed $99,900

ⓘ 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: $817 · $68/mo
• Projected year-2 tax: $817 · $68/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 18 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: $22,308
• − Mortgage interest: −$5,036
• − Property taxes: −$817
• − Insurance: −$450
• − Repairs & maintenance: −$1,785
• − Management: −$1,785
• − Depreciation: −$2,615
• Taxable income: $9,821
• Est. tax owed @ 24.0%: −$2,357
• After-tax cash flow: $8,343/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

+17.1% since first listed

6 events — show timeline

• 2026-06-10 Sold (MLS) $117,000 MAAR
• 2026-05-13 Pending — MAAR
• 2026-04-28 Listed $89,900 MAAR
• 2026-02-24 Sold (Public Records) $1,631,600 Public Records
• 1999-05-21 Listed $99,900 MAAR
• 1999-02-19 Listed $99,900 MAAR

Property tax history

+8.8%/yr

Latest (2025): $817 · +0.7% YoY. Source: county tax records.