203 W Woodland Dr · Montgomery, AL 36105

$69,900

4 bd · 2.0 ba · 1,826 sqft · SingleFamily public records · 38 Days on market

Built 1955 0.26 ac lot $38/sqft · 66% above area

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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
• 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

Listing remarks

This 4 bedroom, 2 bath home is a turnkey investment property with no immediate repairs needed. The property has a Section 8 tenant providing guaranteed and secure rental income. It is a perfect opportunity for investors looking for a property with immediate rental income. So whether you are a seasoned investor or just starting, this property offers a hassle-free opportunity with long-term potential for you.

Key facts

• 0.26 acre lot
• Parking
• Built 1955

Property features AI

Finance

• Financial info: Lease in place through 2025-10-31

Exterior

• Parking: Attached carport; Driveway; One carport space
• Utilities: Electricity available; Public water; Public sewer
• Home design: Single-story brick home; Slab foundation; Year built per public records
• Construction: Brick construction; Slab foundation
• Exterior features: Porch; City lot with mature trees; Lot dimensions approx. 62.1 x 117.6 (irregular)

Interior

• Kitchen: Electric water heater (appliance listed)
• Bedrooms: Three bedrooms on the first floor
• Flooring: Vinyl
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Multiple heating units; Window unit(s) for cooling
• Interior features: Vinyl flooring; Porch (exterior-accessible)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.1% 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: 79 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).
• This rent runs 43% of the median local income ($41k/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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 26y 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 $50k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $67,803 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.14% ✓
• Cap rate: 19.07%
• Cash-on-cash: 45.65%
• DSCR: 3.03
• GRM: 3.9

CMA / ARV

• ARV (median comp): $42,069
• List price: $69,900
• Delta: 66.15%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4510 Rosa Parks Ave	0.29mi	4/1.0	1,772 (-3%)	16mo	$73,435	$41	64
8 Woodstock Dr	0.52mi	5/2.0 (+1)	1,814 (-1%)	12mo	$60,000	$33	59
3960 S Court St	0.39mi	5/2.0 (+1)	1,971 (+8%)	8mo	$30,000	$15	56
107 Huntley Dr	0.34mi	4/2.0	1,648 (-10%)	15mo	$53,000	$32	55
3653 Kelley Ln	0.73mi	4/1.0	1,934 (+6%)	0mo	$50,000	$26	52
4 Collinwood Ave	0.27mi	5/2.0 (+1)	1,610 (-12%)	22mo	$92,000	$57	44
3920 Oak St	0.68mi	3/2.0 (-1)	1,625 (-11%)	4mo	$110,000	$68	41
356 Kempton Dr	0.50mi	3/1.0 (-1)	1,611 (-12%)	15mo	$50,000	$31	35

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.8%
• Equity multiple: 1.47×
• Total profit: $9,180
• Equity at exit: $10,422

10-year hold

• IRR: 20.9%
• Equity multiple: 2.79×
• Total profit: $35,108
• Equity at exit: $6,044

Cash invested: $19,572 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$367
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $318

Break-even live

Break-even rent $1,091

Max offer price $69,900

Occupancy floor 74%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3963 S Court St Montgomery, AL	5.0	2.0	2000	$1,840	$0.92	43d	1	0.40mi
4037 Oak St Montgomery, AL	3.0	2.0	1314	$1,450	$1.10	43d	1	0.47mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	43d	1	0.84mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	21d	1	0.84mi
3577 Whiting Ave Montgomery, AL	3.0	1.0	1269	$1,150	$0.91	43d	1	0.89mi
3902 Wesley Dr Montgomery, AL	5.0	2.0	1689	$1,595	$0.94	21d	1	0.91mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	21d	1	1.11mi
3735 Bridlewood Dr Montgomery, AL	3.0	1.0	1386	$895	$0.65	43d	1	1.17mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	13d	1	1.18mi
3649 Princeton Rd Montgomery, AL	3.0	1.0	1266	$1,200	$0.95	21d	1	1.21mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	21d	1	1.34mi
4342 Sunshine Dr Montgomery, AL	3.0	2.0	1323	$1,250	$0.94	13d	1	1.35mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	21d	1	1.46mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	1.49mi

Listing history 35 events

1. 2026-06-18
   days on market $69,900 Active 38 DOM
2. 2026-06-17
   days on market $69,900 Active 37 DOM
3. 2026-06-16
   days on market $69,900 Active 36 DOM
4. 2026-06-15
   days on market $69,900 Active 35 DOM
5. 2026-06-14
   days on market $69,900 Active 33 DOM
6. 2026-06-13
   statusdays on market $69,900 Active 32 DOM
7. 2026-06-10
   days on market $69,900 Contingent 30 DOM
8. 2026-06-09
   days on market $69,900 Contingent 29 DOM
9. 2026-06-08
   days on market $69,900 Contingent 28 DOM
10. 2026-06-07
    days on market $69,900 Contingent 27 DOM
11. 2026-06-03
    days on market $69,900 Contingent 23 DOM
12. 2026-06-02
    days on market $69,900 Contingent 22 DOM
13. 2026-06-01
    days on market $69,900 Contingent 21 DOM
14. 2026-05-31
    days on market $69,900 Contingent 20 DOM
15. 2026-05-30
    days on market $69,900 Contingent 19 DOM
16. 2026-05-11
    listed $69,900 Active 410-char remark
17. 2026-05-06
    status Active
18. 2025-11-12
    status Active
19. 2025-10-29
    historical Contingent
20. 2025-08-26
    status Active
21. 2025-07-21
    historical Contingent
22. 2025-05-23
    status Active
23. 2025-05-17
    historical Contingent
24. 2025-05-08
    status Active
25. 2025-04-18
    historical Contingent
26. 2025-01-16
    status Active
27. 2025-01-03
    historical Contingent
28. 2024-12-09
    listed $69,900 Active
29. 2023-09-21
    soldstatus $50,000
30. 2022-03-08
    soldstatus $47,500
31. 2008-02-27
    listed $21,000
32. 2002-09-26
    listed $9,900
33. 2002-01-30
    listed $18,000
34. 2000-04-28
    soldstatus $24,000
35. 2000-04-25
    listed $27,900

ⓘ 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: $475 · $40/mo
• Projected year-2 tax: $475 · $40/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 AE · 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,921
• − Mortgage interest: −$3,915
• − Property taxes: −$475
• − Insurance: −$5,468
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$2,033
• Taxable income: $3,161
• Est. tax owed @ 24.0%: −$759
• After-tax cash flow: $3,057/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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 (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• 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

+150.5% since first listed

22 events — show timeline

• 2026-06-11 Relisted — MAAR
• 2026-05-28 Contingent — MAAR
• 2026-05-11 Listed $69,900 MAAR
• 2026-05-06 Relisted — MAAR
• 2025-11-12 Relisted — MAAR
• 2025-10-29 Contingent — MAAR
• 2025-08-26 Relisted — MAAR
• 2025-07-21 Contingent — MAAR
• 2025-05-23 Relisted — MAAR
• 2025-05-17 Contingent — MAAR
• 2025-05-08 Relisted — MAAR
• 2025-04-18 Contingent — MAAR
• 2025-01-16 Relisted — MAAR
• 2025-01-03 Contingent — MAAR
• 2024-12-09 Listed $69,900 MAAR
• 2023-09-21 Sold (Public Records) $50,000 Public Records
• 2022-03-08 Sold (Public Records) $47,500 Public Records
• 2008-02-27 Listed $21,000 MAAR
• 2002-09-26 Listed $9,900 MAAR
• 2002-01-30 Listed $18,000 MAAR
• 2000-04-28 Sold (MLS) $24,000 MAAR
• 2000-04-25 Listed $27,900 MAAR

Property tax history

+21.5%/yr

Latest (2025): $475 · -12.0% YoY. Source: county tax records.