202 Hiwassee Dr · Montgomery, AL 36117

$210,500

4 bd · 2.0 ba · 2,200 sqft · SingleFamily public records · 40 Days on market

Built 1973 Est $290k · 28% 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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +4.5/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 202 Hiwassee Drive in the desirable Arrowhead neighborhood! This charming 4-bedroom, 2-bath brick home offers the perfect blend of comfort, character, and functionality. Thoughtfully designed with no wasted space, this home features generously sized bedrooms, oversized closets, and abundant storage throughout & acirc; & euro; & rdquo; including spacious hallway closets that make organization easy. The kitchen is warm and inviting, complete with a new refrigerator and stove, making it move-in ready for its next owners. The cozy den is truly a standout, featuring a beautiful fireplace accented by stunning wood ceiling beams, creating the perfect place to gather and unw

Key facts

• New stove
• Beautiful fireplace
• Covered patio

Tags

• NEW REFRIGERATOR
• NEW STOVE
• BEAUTIFUL FIREPLACE
• WOOD CEILING BEAMS
• COVERED PATIO
• LARGE LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/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 $200k (4.8% below list).
• Recommended offer: $200k (4.8% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: employment D, crime F, amenities D-.
• 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.
• Zoned schools: Garrett Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 564 students, 68% FRL); Park Crossing High School (math 12% / reading 27%, grade F, #169 of 305 statewide, top 59%, 906 students, 53% FRL).
• Market conditions: Rents rising (+3.0%/yr); 409 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 32% of the median local income ($75k/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.
• Montgomery 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 40 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y 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.
• Current owner paid $146k; 44% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,471 (4.8% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.95% ✗
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $290,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 Tuckabatchee Ct	0.31mi	4/2.0	2,155 (-2%)	1mo	$285,000	$132	82
200 Oldfield Dr	0.55mi	4/2.0	2,202 (+0%)	3mo	$255,000	$116	71
125 Ocala Dr	0.12mi	3/2.0 (-1)	1,884 (-14%)	1mo	$259,000	$137	64
1256 Autumn Ridge Rd	0.70mi	4/2.0	2,239 (+2%)	6mo	$309,200	$138	59
7325 Old Forest Rd	0.70mi	4/2.0	2,103 (-4%)	2mo	$270,000	$128	58
8519 Wexford Trce	0.55mi	3/2.5 (-1)	2,316 (+5%)	3mo	$275,000	$119	56
51 Lake Frst	0.59mi	3/2.5 (-1)	2,110 (-4%)	5mo	$282,000	$134	55
7307 Old Forest Rd	0.73mi	4/2.0	2,020 (-8%)	1mo	$290,000	$144	52
949 Somerset Dr	0.46mi	3/2.0 (-1)	2,460 (+12%)	2mo	$280,000	$114	52
447 Arrowhead Dr	0.65mi	3/2.0 (-1)	2,384 (+8%)	1mo	$290,000	$122	49
7955 Bridgewater Trce	0.64mi	3/2.5 (-1)	2,385 (+8%)	2mo	$315,000	$132	48
30 Lake Forest Dr	0.54mi	3/2.0 (-1)	1,931 (-12%)	2mo	$277,000	$143	47

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 · 2.99% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-15,159
• Equity at exit: $31,386

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $10,939
• Equity at exit: $18,200

Cash invested: $58,940 (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 36117

• Home prices YoY: -20.0%
• Rents YoY: 3.0%
• Active inventory: 409
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,005 high
• Mortgage (P&I): −$1,104
• Tax from tax record: −$93 /mo · $1,117/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $299

Break-even live

Break-even rent $1,626

Max offer price $210,500

Occupancy floor 80%

Sensitivity live

Price	-10% $418	-5% $359	+0% $299	+5% $239	+10% $180
Rent	-10% $141	-5% $220	+0% $299	+5% $378	+10% $457
Rate	-1.0pp $405	-0.5pp $353	base $299	+0.5pp $244	+1.0pp $189

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: $52,625
• Closing costs: $6,315
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Hillabee Ct Montgomery, AL	3.0	2.0	1881	$1,900	$1.01	45d	1	0.38mi
280 New Haven Blvd Montgomery, AL	1.0–3.0	1.0–2.0	1175	$1,714	$1.46	15d	18	0.43mi
111 Arrowhead Dr Montgomery, AL	3.0	2.0	2234	$2,150	$0.96	22d	1	0.64mi
14 Creek Dr Montgomery, AL	4.0	2.5	2523	$2,100	$0.83	22d	1	0.65mi
7117 Stamford Ct Montgomery, AL	3.0	2.0	1527	$1,700	$1.11	15d	1	0.69mi
7136 Breckenridge Dr Montgomery, AL	4.0	2.0	1544	$1,970	$1.28	45d	1	0.78mi
7528 Pinnacle Ct Montgomery, AL	3.0	2.0	1607	$1,850	$1.15	45d	1	0.96mi
7448 Pinnacle Pt Montgomery, AL	3.0	2.0	1581	$2,000	$1.27	45d	1	1.06mi
655 Whistlewood Rd Montgomery, AL	3.0	2.0	2057	$2,200	$1.07	22d	1	1.34mi

Listing history 28 events

1. 2026-06-21
   days on market $210,500 Active 40 DOM
2. 2026-06-18
   days on market $210,500 Active 37 DOM
3. 2026-06-17
   days on market $210,500 Active 36 DOM
4. 2026-06-16
   days on market $210,500 Active 35 DOM
5. 2026-06-15
   days on market $210,500 Active 34 DOM
6. 2026-06-14
   days on market $210,500 Active 32 DOM
7. 2026-06-13
   days on market $210,500 Active 31 DOM
8. 2026-06-10
   days on market $210,500 Active 29 DOM
9. 2026-06-09
   days on market $210,500 Active 28 DOM
10. 2026-06-08
    days on market $210,500 Active 27 DOM
11. 2026-06-07
    days on market $210,500 Active 26 DOM
12. 2026-06-03
    days on market $210,500 Active 22 DOM
13. 2026-06-02
    days on market $210,500 Active 21 DOM
14. 2026-06-01
    days on market $210,500 Active 20 DOM
15. 2026-05-31
    days on market $210,500 Active 19 DOM
16. 2026-05-30
    days on market $210,500 Active 18 DOM
17. 2026-05-12
    listed $210,500 Active 1630-char remark
18. 2016-06-10
    soldstatus $146,355
19. 2016-05-27
    soldstatus $146,000
20. 2016-03-28
    listed $149,900
21. 2015-08-27
    listed $149,900
22. 2013-03-25
    listed $149,900
23. 2012-01-17
    listed $162,240
24. 2008-05-10
    listed $203,000
25. 2001-03-30
    soldstatus $137,000
26. 2001-01-05
    listed $139,900
27. 1999-02-16
    soldstatus $120,000
28. 1998-10-13
    listed $129,900

ⓘ 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: $1,117 · $93/mo
• Projected year-2 tax: $1,117 · $93/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,057
• − Mortgage interest: −$11,791
• − Property taxes: −$1,117
• − Insurance: −$1,052
• − Repairs & maintenance: −$1,925
• − Management: −$1,925
• − Depreciation: −$6,124
• Taxable income: $123
• Est. tax owed @ 24.0%: −$29
• After-tax cash flow: $3,559/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): 53,172
• Household income: $74,720
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 1742.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Black 53% White 34% Asian 8% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 9% · South Korea, Canada, China
• Languages at home: 90% English-only · Korean 4% Spanish 3% 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: ▼ -37.24%
• Current HPI: 148.7728
• Rent YoY: ▲ 2.99%
• 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

+62.0% since first listed

12 events — show timeline

• 2026-05-12 Listed $210,500 FSBO.com
• 2016-06-10 Sold (Public Records) $146,355 Public Records
• 2016-05-27 Sold (MLS) $146,000 MAAR
• 2016-03-28 Listed $149,900 MAAR
• 2015-08-27 Listed $149,900 MAAR
• 2013-03-25 Listed $149,900 MAAR
• 2012-01-17 Listed $162,240 MAAR
• 2008-05-10 Listed $203,000 MAAR
• 2001-03-30 Sold (MLS) $137,000 MAAR
• 2001-01-05 Listed $139,900 MAAR
• 1999-02-16 Sold (MLS) $120,000 MAAR
• 1998-10-13 Listed $129,900 MAAR

Property tax history

+6.7%/yr

Latest (2025): $1,117 · +6.9% YoY. Source: county tax records.