367 Sage Ave S · Mobile, AL 36606

$190,000

3 bd · 2.0 ba · 2,112 sqft · SingleFamily public records · 126 Days on market

Built 1964 0.30 ac lot $90/sqft · 22% below area Est $251k · 24% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.5/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 367 South Sage Ave. This house sits on a corner lot close to everything. Schools, Shopping, Mall's and Interstate. Large laundry room, Formal Dining and Living Room and a good sized Den. Bedrooms are spacious. Covered parking in the rear with a porch on the front and back. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

Key facts

• Porch on the front
• Formal dining
• Covered parking

Tags

• CORNER LOT
• LARGE LAUNDRY ROOM
• FORMAL DINING
• GOOD SIZED DEN
• COVERED PARKING
• PORCH ON THE FRONT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/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 $180k (5.2% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+5.1%/yr); 174 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 42% of the median local income ($51k/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 $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 126 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $140k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 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 1964 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.99%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (median comp): $251,087
• List price: $190,000
• Delta: -24.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 Barksdale Dr W	0.29mi	4/2.5 (+1)	2,000 (-5%)	0mo	$280,000	$140	70
320 Hadrian St	0.34mi	4/3.0 (+1)	2,139 (+1%)	5mo	$215,000	$101	69
919 Grant Park Dr	0.23mi	3/2.0	1,846 (-13%)	6mo	$290,000	$157	64
2761 Barksdale Dr N	0.39mi	4/2.0 (+1)	2,154 (+2%)	12mo	$270,500	$126	63
420 Pennington Cir	0.22mi	4/2.5 (+1)	2,261 (+7%)	11mo	$255,000	$113	62
255 Berkley Ct	0.41mi	3/2.0	2,352 (+11%)	1mo	$268,000	$114	61
2762 Marcelus Dr	0.45mi	3/2.0	1,846 (-13%)	5mo	$225,000	$122	54
931 Grant Park Dr	0.21mi	3/2.0	1,812 (-14%)	16mo	$311,500	$172	53
2615 Walton Ave	0.67mi	4/2.5 (+1)	2,172 (+3%)	7mo	$265,000	$122	51
2754 Brierwood Dr	0.66mi	3/2.0	1,866 (-12%)	1mo	$252,000	$135	49
2774 N Grafhill Dr	0.60mi	3/2.5	1,918 (-9%)	9mo	$248,000	$129	47
274 Walton Ave W	0.64mi	4/2.0 (+1)	1,900 (-10%)	9mo	$210,000	$111	40

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-10,144
• Equity at exit: $28,330

10-year hold

• IRR: 6.7%
• Equity multiple: 1.54×
• Total profit: $28,964
• Equity at exit: $16,428

Cash invested: $53,200 (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 36606

• Rents YoY: 5.1%
• Active inventory: 174
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,802 high
• Mortgage (P&I): −$996
• Tax from tax record: −$82 /mo · $990/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $265

Break-even live

Break-even rent $1,466

Max offer price $190,000

Occupancy floor 80%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Hadrian St Mobile, AL	3.0	2.0	1843	$1,800	$0.98	43d	1	0.32mi
418 Durande Dr Mobile, AL	3.0	2.0	1456	$1,350	$0.93	13d	1	0.50mi
2861 Ralston Rd Mobile, AL	3.0	2.0	1617	$1,650	$1.02	43d	1	0.57mi
2861 Potter Dr Unit 1043844P Mobile, AL	3.0	2.0	1496	$2,492	$1.67	21d	1	0.63mi
2863 Potter Dr Unit 1043693P Mobile, AL	4.0	2.0	1496	$3,049	$2.04	13d	1	0.63mi
150 Dunn Ave Mobile, AL	3.0	2.0	1455	$1,250	$0.86	21d	1	0.79mi
713 Iris Ave Mobile, AL	3.0	1.0	1617	$1,300	$0.80	21d	1	0.93mi
412 Pinehill Dr Mobile, AL	2.0	2.0	2000	$2,450	$1.23	13d	1	0.99mi
3661 Airport Blvd Mobile, AL	1.0–3.0	1.0–2.5	1187	$1,621	$1.37	13d	24	1.03mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	43d	1	1.27mi
146 Yester Oaks Dr Mobile, AL	1.0–3.0	1.0–2.5	1203	$1,596	$1.33	13d	12	1.40mi

Listing history 14 events

1. 2026-06-09
   status $190,000 Pending 126 DOM
2. 2026-06-08
   days on market $190,000 Active 126 DOM
3. 2026-06-07
   days on market $190,000 Active 125 DOM
4. 2026-06-05
   days on market $190,000 Active 122 DOM
5. 2026-06-03
   days on market $190,000 Active 121 DOM
6. 2026-06-02
   days on market $190,000 Active 120 DOM
7. 2026-06-01
   days on market $190,000 Active 119 DOM
8. 2026-05-31
   days on market $190,000 Active 118 DOM
9. 2026-05-30
   days on market $190,000 Active 117 DOM
10. 2026-05-08
    price $190,000 412-char remark

    Show marketing remark (412 chars)

    Welcome to 367 South Sage Ave. This house sits on a corner lot close to everything. Schools, Shopping, Mall's and Interstate. Large laundry room, Formal Dining and Living Room and a good sized Den. Bedrooms are spacious. Covered parking in the rear with a porch on the front and back. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

11. 2026-04-06
    price $200,000 412-char remark

    Show marketing remark (412 chars)

    Welcome to 367 South Sage Ave. This house sits on a corner lot close to everything. Schools, Shopping, Mall's and Interstate. Large laundry room, Formal Dining and Living Room and a good sized Den. Bedrooms are spacious. Covered parking in the rear with a porch on the front and back. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

12. 2026-02-27
    price $210,000 412-char remark

    Show marketing remark (412 chars)

    Welcome to 367 South Sage Ave. This house sits on a corner lot close to everything. Schools, Shopping, Mall's and Interstate. Large laundry room, Formal Dining and Living Room and a good sized Den. Bedrooms are spacious. Covered parking in the rear with a porch on the front and back. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

13. 2026-02-02
    listed $230,000 Active 412-char remark

    Show marketing remark (412 chars)

    Welcome to 367 South Sage Ave. This house sits on a corner lot close to everything. Schools, Shopping, Mall's and Interstate. Large laundry room, Formal Dining and Living Room and a good sized Den. Bedrooms are spacious. Covered parking in the rear with a porch on the front and back. Please call your favorite Realtor today for a personal tour. May be subject to the Alabama One Year Right of Redemption.

14. 2018-06-20
    soldstatus $140,203

ⓘ 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: $990 · $82/mo
• Projected year-2 tax: $990 · $82/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 10/10 Extreme 7 d/yr ≥105°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: $21,621
• − Mortgage interest: −$10,643
• − Property taxes: −$990
• − Insurance: −$950
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$5,527
• Taxable income: $52
• Est. tax owed @ 24.0%: −$12
• After-tax cash flow: $3,172/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): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

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: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• 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

+35.5% since first listed

5 events — show timeline

• 2026-05-08 Price Changed $190,000 GCMLS AL
• 2026-04-06 Price Changed $200,000 GCMLS AL
• 2026-02-27 Price Changed $210,000 GCMLS AL
• 2026-02-02 Listed $230,000 GCMLS AL
• 2018-06-20 Sold (Public Records) $140,203 Public Records

Property tax history

-6.8%/yr

Latest (2025): $990 · +6.0% YoY. Source: county tax records.