1308 Greenwood Ave · Mobile, AL 36605

$84,900

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 3 Days on market

Built 1989 8,712 sqft lot Est $87k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +8.5/15.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3BR/1BA Home with Hardwood Floors & Spacious Living Areas! This 3-bedroom, 1-bath home offers approximately 1,448 square feet of living space and is full of potential! Beautiful hardwood floors run throughout the home, adding warmth and character. The spacious kitchen features abundant cabinet storage and generous countertop space, making meal prep and entertaining a breeze. According to the seller, the HVAC system and roof are both approximately 5 years old, providing added peace of mind. Outside, you’ll find a nice-sized yard with plenty of room for gardening, recreation, or future improvements. Whether you’re a first-time homebuyer looking to build equity or

Key facts

• Nice sized yard
• Spacious kitchen
• Hardwood floors

Tags

• HARDWOOD FLOORS
• SPACIOUS KITCHEN
• ABUNDANT CABINET STORAGE
• GENEROUS COUNTERTOP SPACE
• NICE SIZED YARD

Property features AI

Exterior

• Parking: Driveway; 1 parking space
• Utilities: Public sewer; Electric service: other; No listed utilities
• Home design: Single family residence; Residential property
• Construction: Built in 1989; Asbestos and frame construction; Shingle roof and other roof materials; Pillar/post/pier foundation
• Exterior features: Other exterior features; No fencing; View present

Interior

• Kitchen: Other kitchen features
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom; 0 half bathrooms
• Heating & cooling: Central heating; Ceiling fans for cooling
• Interior features: Other interior features; Fireplace in the family room
• Laundry & utility: Other appliances

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 12.6% 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: Maryvale Elementary School (math 5% / reading 25%, grade F, #505 of 627 statewide, top 81%, 494 students, 92% FRL); Lillie B Williamson High School (math 2% / reading 12%, grade F, #273 of 305 statewide, top 89%, 956 students, 94% FRL) — zoned schools average 93% FRL vs 67% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 11% at this address vs 27% district-wide (-16 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.3%/yr); 139 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 34% of the median local income ($44k/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 $587 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $85k implies a 63% gain — meaningful room to come down on a strong offer.

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 $84,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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 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: 1.47% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.50%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $86,880
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1906 Maryvale St N	0.25mi	3/2.0	1,335 (-8%)	8mo	$80,000	$60	64
1164 Evangeline St	0.40mi	3/2.0	1,546 (+7%)	4mo	$80,000	$52	63
1476 Boudousquie St	0.58mi	3/1.5	1,434 (-1%)	8mo	$150,000	$105	63
1301 Willow Ln	0.43mi	3/1.5	1,290 (-11%)	3mo	$44,000	$34	58
1406 Brooke Ave	0.20mi	3/2.0	1,304 (-10%)	17mo	$155,000	$119	56
1406 Boudousquie St	0.52mi	3/1.0	1,609 (+11%)	4mo	$65,000	$40	53
1256 Horton Dr	0.37mi	4/2.0 (+1)	1,250 (-14%)	11mo	$89,999	$72	42
2063 Gimon Cir N	0.70mi	4/1.5 (+1)	1,558 (+8%)	8mo	$68,000	$44	41
2056 Foster Ln	0.55mi	2/1.0 (-1)	1,268 (-12%)	16mo	$50,000	$39	35
1907 St Monica Dr	0.50mi	3/2.0	1,277 (-12%)	23mo	$155,000	$121	34

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.6%
• Equity multiple: 1.89×
• Total profit: $21,206
• Equity at exit: $12,659

10-year hold

• IRR: 31.9%
• Equity multiple: 4.57×
• Total profit: $84,943
• Equity at exit: $7,341

Cash invested: $23,772 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$445
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $446

Break-even live

Break-even rent $681

Max offer price $84,900

Occupancy floor 59%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1351 Dauphin Island Pkwy Mobile, AL	3.0	1.0	992	$1,095	$1.10	44d	1	0.16mi
2055 Steiner St Mobile, AL	2.0	1.0	1797	$895	$0.50	44d	1	0.41mi
1601 Neshota Dr Apt 86 Mobile, AL	3.0	1.0	880	$900	$1.02	44d	1	0.45mi
1601 Neshota Dr Mobile, AL	2.0–3.0	1.0	815	$825	$1.01	14d	7	0.45mi
2366 White St Unit B Mobile, AL	2.0	1.0	900	$845	$0.94	44d	1	0.94mi
2255 Dog River Ct Unit 1043454P Mobile, AL	4.0	2.0	1851	$2,890	$1.56	21d	1	0.95mi
1302 Navco Rd Mobile, AL	2.0	1.0	1009	$935	$0.93	14d	13	0.97mi
2425 Nortons Ln Unit D Mobile, AL	2.0	1.0	1050	$1,100	$1.05	14d	1	1.02mi
2425 Nortons Ln Unit C Mobile, AL	2.0	1.0	1050	$1,200	$1.14	44d	1	1.02mi
2456 McLaughlin Dr Mobile, AL	3.0	1.0	1405	$1,300	$0.93	44d	1	1.08mi
2068 Victory Ct Mobile, AL	4.0	1.0	1259	$1,225	$0.97	44d	1	1.11mi
2359 Vermillion Dr Mobile, AL	3.0	1.0	1064	$895	$0.84	21d	1	1.11mi
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	44d	1	1.18mi
817 Hawkins St Mobile, AL	3.0	1.0	1217	$1,200	$0.99	44d	1	1.28mi
2115 Barron Pl Mobile, AL	3.0	1.0	1000	$1,200	$1.20	44d	1	1.30mi
1506 Flowers Dr Unit B Mobile, AL	2.0	1.0	1000	$795	$0.80	21d	1	1.33mi
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	44d	1	1.34mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	1.42mi
955 Cloverdale Dr Mobile, AL	3.0	1.5	1128	$1,125	$1.00	44d	1	1.45mi

Listing history 4 events

1. 2026-06-18
   days on market $84,900 Active 3 DOM
2. 2026-06-17
   days on market $84,900 Active 2 DOM
3. 2026-06-15
   remarks 683-char remark
4. 2026-06-15
   listed $84,900 Active 1 DOM

ⓘ 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: $693 · $58/mo
• Projected year-2 tax: $693 · $58/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: $14,949
• − Mortgage interest: −$4,756
• − Property taxes: −$693
• − Insurance: −$424
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,470
• Taxable income: $4,214
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $4,338/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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 Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

+63.3% since first listed

2 events — show timeline

• 2026-06-15 Listed $84,900 GCMLS AL
• 2022-06-21 Sold (Public Records) $52,000 Public Records

Property tax history

+8.2%/yr

Latest (2025): $693 · +0.7% YoY. Source: county tax records.