345 Whetstone Rd · Montgomery, AL 36109

$135,500

2 bd · 1.0 ba · 1,375 sqft · SingleFamily public records · 30 Days on market

Built 1955 8,712 sqft lot $99/sqft · 6% above area Est $128k · 6% over

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Why this score? — see what drove the D 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 +18.1/30.0
• DSCR +5.7/10.0
• ARV discount +4.9/15.0
• 1% rule +4.1/10.0
• 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 MLS

Great Investment property or starter home! Motivated seller! Home consists of 2 Bedrooms and 1 Bathroom, which also has the option of a 3rd bedroom. The home is located in Forest Hills Subdivision and has a functional layout of a nice living room, consisting of hardwood floors and open kitchen. Fenced back yard which is perfect for pets or entertaining. Storage building remains .

Key facts

• Storage building
• Investment property
• Functional layout

Tags

• INVESTMENT PROPERTY
• FUNCTIONAL LAYOUT
• HARDWOOD FLOORS
• OPEN KITCHEN
• FULLY FENCED BACK YARD
• STORAGE BUILDING

Property features AI

Exterior

• Parking: Driveway parking; One carport space
• Security: Security system
• Utilities: Public water; Connected sewer; Electric water heater; Internet service available
• Home design: Brick-over-foundation construction; Existing year built; Crawl space foundation; Located in the Forest Hills subdivision
• Construction: Brick over foundation
• Exterior features: Fenced yard; Storage building

Interior

• Kitchen: Laminate countertops; Dishwasher; Gas oven; Refrigerator
• Bedrooms: Master bedroom (main level); Additional bedroom (main level)
• Flooring: Carpet; Hardwood; Hardwood laminate
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; Security system; Attic
• Laundry & utility: Main-level laundry room; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/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 $123k (9.2% below list).
• Recommended offer: $123k (9.2% below list) — sets the bar for 1% rule.
• Cap rate 7.3% vs local median 6.0% in Montgomery — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Flowers Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 394 students, 74% FRL); Goodwyn Middle School (math 0% / reading 16%, grade F, #239 of 257 statewide, top 93%, 808 students, 84% FRL); Lee High School (math 2% / reading 8%, grade F, #276 of 305 statewide, top 95%, 1,374 students, 86% FRL).
• Market conditions: Rents rising (+2.6%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $937 of loan paydown is wiped out by about $4k 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 30 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,038 (9.2% below list)

Questions for the listing agent

1. Built in 1955 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.91% ✗
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 9.2

CMA / ARV

• ARV (median comp): $128,155
• List price: $135,500
• Delta: 5.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508 Forest Hills Dr	0.02mi	3/2.0 (+1)	1,267 (-8%)	1mo	$55,500	$44	76
45 Kent St	0.43mi	3/1.0 (+1)	1,338 (-3%)	3mo	$94,000	$70	68
127 Salem Dr	0.54mi	3/1.0 (+1)	1,391 (+1%)	1mo	$118,000	$85	67
3 Kent St	0.37mi	3/2.0 (+1)	1,305 (-5%)	1mo	$102,750	$79	65
137 Oak Forest Dr	0.29mi	2/1.0	1,183 (-14%)	0mo	$47,000	$40	63
47 Salem Dr	0.44mi	3/2.0 (+1)	1,419 (+3%)	3mo	$162,500	$115	63
3326 Vermont Dr	0.13mi	3/2.0 (+1)	1,568 (+14%)	2mo	$80,000	$51	60
3602 Little John Dr	0.59mi	3/1.0 (+1)	1,286 (-6%)	4mo	$65,000	$51	53
403 Nottingham Rd	0.72mi	3/1.0 (+1)	1,450 (+6%)	0mo	$39,901	$28	52
3518 N Wareingwood Dr	0.73mi	3/1.0 (+1)	1,269 (-8%)	3mo	$119,500	$94	46
524 Morningview Dr	0.71mi	3/1.0 (+1)	1,518 (+10%)	5mo	$103,000	$68	40
20 Arden Rd	0.55mi	3/2.0 (+1)	1,575 (+14%)	1mo	$165,000	$105	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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.61×
• Total profit: $-14,870
• Equity at exit: $20,203

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-5,117
• Equity at exit: $11,716

Cash invested: $37,940 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 209
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,230 high
• Mortgage (P&I): −$711
• Tax from tax record: −$86 /mo · $1,037/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $119

Break-even live

Break-even rent $1,080

Max offer price $135,500

Occupancy floor 85%

Sensitivity live

Price	-10% $195	-5% $157	+0% $119	+5% $80	+10% $42
Rent	-10% $21	-5% $70	+0% $119	+5% $167	+10% $216
Rate	-1.0pp $187	-0.5pp $153	base $119	+0.5pp $83	+1.0pp $48

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: $33,875
• Closing costs: $4,065
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	23d	1	0.14mi
3319 Willow Lane Dr Montgomery, AL	3.0	2.0	1032	$1,200	$1.16	45d	1	0.15mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	15d	1	0.16mi
3334 Cottonwood Dr Montgomery, AL	3.0	2.0	1025	$1,295	$1.26	15d	1	0.21mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	23d	1	0.24mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	23d	1	0.31mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	23d	1	0.34mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	45d	1	0.37mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	23d	1	0.37mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	15d	1	0.39mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	45d	1	0.40mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	45d	1	0.44mi
67 Holliday Dr Montgomery, AL	3.0	1.0	1156	$1,200	$1.04	45d	1	0.51mi
108 Calhoun Rd Unit 108B Montgomery, AL	2.0	1.0	1350	$750	$0.56	45d	1	0.53mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	45d	1	0.55mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	45d	1	0.57mi
200 Eton Rd Montgomery, AL	3.0	1.5	1500	$895	$0.60	15d	1	0.59mi
186 E Salem Dr Montgomery, AL	3.0	1.0	1040	$1,195	$1.15	23d	1	0.60mi
2310 Yancey Ave Montgomery, AL	3.0	1.0	1212	$1,250	$1.03	45d	1	0.75mi
2241 Saint Charles Ave Unit 2247 Montgomery, AL	1.0	1.0	915	$1,475	$1.61	45d	1	0.75mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	15d	1	0.76mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	45d	1	0.76mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	45d	1	0.76mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	23d	1	0.78mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	15d	1	0.82mi
688 Joryne Dr Montgomery, AL	3.0	2.0	1500	$1,200	$0.80	45d	1	0.83mi
817 Dumont Dr Montgomery, AL	3.0	2.0	1635	$1,800	$1.10	15d	1	0.89mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	45d	1	0.89mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	45d	1	0.93mi
3692 Fairfield Dr Montgomery, AL	3.0	2.0	1524	$1,400	$0.92	23d	1	0.94mi
107 Dalraida Rd Unit A Montgomery, AL	3.0	2.0	1237	$1,200	$0.97	45d	1	0.95mi
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	23d	1	0.96mi
3323 Bedford Ln Montgomery, AL	3.0	2.0	1134	$1,200	$1.06	23d	1	0.96mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	45d	1	0.97mi
860 Greg Dr Montgomery, AL	3.0	2.0	1400	$1,295	$0.93	15d	1	0.98mi
3346 Bedford Ln Montgomery, AL	3.0	1.0	1134	$1,295	$1.14	15d	1	1.00mi
3462 Biltmore Ave Montgomery, AL	3.0	2.0	1685	$1,225	$0.73	23d	1	1.02mi
3456 Harrison Rd Montgomery, AL	3.0	1.0	1008	$1,300	$1.29	45d	1	1.03mi
2009 Yancey Ave Montgomery, AL	3.0	1.0	1140	$1,080	$0.95	23d	1	1.05mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	45d	1	1.07mi

Listing history 25 events

1. 2026-06-21
   days on market $135,500 Active 30 DOM
2. 2026-06-18
   days on market $135,500 Active 27 DOM
3. 2026-06-17
   days on market $135,500 Active 26 DOM
4. 2026-06-16
   days on market $135,500 Active 25 DOM
5. 2026-06-15
   days on market $135,500 Active 24 DOM
6. 2026-06-14
   days on market $135,500 Active 22 DOM
7. 2026-06-13
   days on market $135,500 Active 21 DOM
8. 2026-06-10
   days on market $135,500 Active 19 DOM
9. 2026-06-09
   days on market $135,500 Active 18 DOM
10. 2026-06-08
    days on market $135,500 Active 17 DOM
11. 2026-06-07
    days on market $135,500 Active 16 DOM
12. 2026-06-03
    days on market $135,500 Active 12 DOM
13. 2026-06-02
    days on market $135,500 Active 11 DOM
14. 2026-06-01
    days on market $135,500 Active 10 DOM
15. 2026-05-31
    days on market $135,500 Active 9 DOM
16. 2026-05-30
    days on market $135,500 Active 8 DOM
17. 2025-10-21
    price $135,500
18. 2025-10-20
    price $135,500 383-char remark

    Show marketing remark (383 chars)

    Great Investment property or starter home! Motivated seller! Home consists of 2 Bedrooms and 1 Bathroom, which also has the option of a 3rd bedroom. The home is located in Forest Hills Subdivision and has a functional layout of a nice living room, consisting of hardwood floors and open kitchen. Fenced back yard which is perfect for pets or entertaining. Storage building remains .

19. 2025-09-05
    listed $145,500 Active 383-char remark

    Show marketing remark (383 chars)

    Great Investment property or starter home! Motivated seller! Home consists of 2 Bedrooms and 1 Bathroom, which also has the option of a 3rd bedroom. The home is located in Forest Hills Subdivision and has a functional layout of a nice living room, consisting of hardwood floors and open kitchen. Fenced back yard which is perfect for pets or entertaining. Storage building remains .

20. 2025-07-19
    price $145,500
21. 2025-06-17
    price $155,500
22. 2025-04-29
    price $161,500
23. 2022-12-03
    historical
24. 2012-01-13
    listed $58,500
25. 2011-01-29
    listed $58,500

ⓘ 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: $1,037 · $86/mo
• Projected year-2 tax: $1,037 · $86/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 7/10 Severe 6 d/yr ≥107°F today · 17 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: $14,765
• − Mortgage interest: −$7,590
• − Property taxes: −$1,037
• − Insurance: −$678
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,942
• Taxable loss: −$844
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $1,625/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): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

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: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• 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

+131.6% since first listed

10 events — show timeline

• 2026-05-19 Listed $135,500 Greater Alabama MLS
• 2025-10-21 Price Changed $135,500 Greater Alabama MLS
• 2025-10-20 Price Changed $135,500 Walker County Area MLS
• 2025-09-05 Listed $145,500 Walker County Area MLS
• 2025-07-19 Price Changed $145,500 Greater Alabama MLS
• 2025-06-17 Price Changed $155,500 Greater Alabama MLS
• 2025-04-29 Price Changed $161,500 Greater Alabama MLS
• 2022-12-03 Rental Removed — RENT.
• 2012-01-13 Listed $58,500 MAAR
• 2011-01-29 Listed $58,500 MAAR

Property tax history

+6.3%/yr

Latest (2025): $1,037 · +2.4% YoY. Source: county tax records.