4504 Delray Dr · Montgomery, AL 36116

$134,900

2 bd · 2.0 ba · 1,629 sqft · SingleFamily public records · 41 Days on market

Built 1962 0.56 ac lot $83/sqft · 12% above area Est $120k · 12% 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 +16.8/30.0
• DSCR +5.2/10.0
• Rent growth +3.9/5.0
• 1% rule +3.8/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sale in "As Is" condition. Nice corner lot; 3rd bedroom has been converted to office. Good investment.

Key facts

• Easy access
• Generous lot
• Mature trees

Tags

• FUNCTIONAL FLOOR PLAN
• PRACTICAL KITCHEN LAYOUT
• GENEROUS LOT
• MATURE TREES
• ESTABLISHED NEIGHBORHOOD
• EASY ACCESS

Property features AI

Finance

• Financial info: Monthly garbage fee ($22)
• HOA & community: No association fee

Exterior

• Parking: Attached parking; 1-car carport space
• Utilities: Public water; Septic system; Electric water heater; Internet availability unknown
• Home design: Single-family existing home; Slab foundation
• Construction: Brick over foundation; Wood siding
• Exterior features: Covered patio; Porch

Interior

• Kitchen: Electric oven; Refrigerator; Laminate countertops
• Bedrooms: Master bedroom on main level; Additional bedrooms on main level; Walk-in closets
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms with tub/shower combos
• Heating & cooling: Central heating (forced air); Central electric cooling
• Interior features: Smooth ceilings; Split bedroom floor plan; Attic with pull-down access; Laminate kitchen countertops; Oven (electric) and refrigerator included
• Laundry & utility: Main-level laundry area; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $86 ($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 $119k (12.0% below list).
• Recommended offer: $119k (12.0% below list) — sets the bar for 1% rule.

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: Johnson Elementary School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 352 students, 87% FRL); Lanier Senior High School (math 2% / reading 12%, grade F, #265 of 305 statewide, top 89%, 798 students, 94% FRL) — zoned schools average 90% FRL vs 70% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.7%/yr); 293 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); 45% 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 $933 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 41 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y 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

• 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 $118,700 (12.0% below list)

Questions for the listing agent

1. It's been on market 41 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 1962 — 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. 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?
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: 0.88% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.72%
• DSCR: 1.12
• GRM: 9.5

CMA / ARV

• ARV (median comp): $120,309
• List price: $134,900
• Delta: 12.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1712 Marlowe Dr	0.05mi	3/2.0 (+1)	1,530 (-6%)	2mo	$150,000	$98	81
743 Leicester Dr	0.21mi	3/2.0 (+1)	1,610 (-1%)	6mo	$124,000	$77	78
4512 Delray Rd	0.02mi	3/2.0 (+1)	1,500 (-8%)	9mo	$125,000	$83	74
829 Leicester Dr	0.14mi	3/2.0 (+1)	1,774 (+9%)	3mo	$50,000	$28	71
651 Seibles Rd	0.33mi	3/2.0 (+1)	1,611 (-1%)	10mo	$126,000	$78	69
4712 Falcon Ln	0.37mi	3/2.0 (+1)	1,636 (+0%)	9mo	$132,000	$81	69
731 Leicester Dr	0.23mi	3/2.0 (+1)	1,743 (+7%)	7mo	$140,000	$80	67
4348 Rainbow Rd	0.21mi	3/2.0 (+1)	1,590 (-2%)	18mo	$122,500	$77	66
1160 Queensbury Dr	0.29mi	3/2.0 (+1)	1,734 (+6%)	8mo	$115,000	$66	64
4506 Narrow Lane Rd	0.55mi	3/2.0 (+1)	1,784 (+10%)	10mo	$21,100	$12	45
540 Seibles Rd	0.34mi	3/2.0 (+1)	1,833 (+12%)	20mo	$165,000	$90	41
1426 Marlowe Dr	0.42mi	3/2.0 (+1)	1,402 (-14%)	16mo	$118,000	$84	39

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 · 5.65% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.65×
• Total profit: $-13,192
• Equity at exit: $20,114

10-year hold

• IRR: 3.1%
• Equity multiple: 1.25×
• Total profit: $9,480
• Equity at exit: $11,664

Cash invested: $37,772 (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 36116

• Home prices YoY: -9.7%
• Rents YoY: 5.7%
• Active inventory: 293
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$707
• Tax from tax record: −$89 /mo · $1,062/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $86

Break-even live

Break-even rent $1,079

Max offer price $134,900

Occupancy floor 88%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4342 Sunshine Dr Montgomery, AL	3.0	2.0	1323	$1,250	$0.94	13d	1	0.29mi
1114 Druid Hills Dr Montgomery, AL	3.0	1.0	1192	$1,250	$1.05	21d	1	0.84mi
548 Winston Dr Montgomery, AL	2.0	2.5	1396	$1,000	$0.72	43d	1	0.94mi
3701 Wesley Dr Unit 3737 Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	43d	1	1.10mi
3708 Princeton Rd Montgomery, AL	2.0	2.0	1749	$900	$0.51	21d	1	1.12mi
3737 Wesley Dr Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	43d	1	1.13mi
3649 Princeton Rd Montgomery, AL	3.0	1.0	1266	$1,200	$0.95	21d	1	1.18mi
3735 Bridlewood Dr Montgomery, AL	3.0	1.0	1386	$895	$0.65	43d	1	1.26mi
2230 Woodley Sq W Montgomery, AL	1.0–2.0	1.0–2.0	902	$898	$1.00	13d	11	1.32mi
3212 Herbert Dr Montgomery, AL	3.0	2.0	1180	$1,425	$1.21	21d	1	1.46mi
3608 Wilmington Rd Montgomery, AL	3.0	1.0	1160	$950	$0.82	43d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $134,900 Active 41 DOM
2. 2026-06-17
   days on market $134,900 Active 40 DOM
3. 2026-06-16
   days on market $134,900 Active 39 DOM
4. 2026-06-15
   days on market $134,900 Active 38 DOM
5. 2026-06-14
   days on market $134,900 Active 36 DOM
6. 2026-06-13
   days on market $134,900 Active 35 DOM
7. 2026-06-10
   days on market $134,900 Active 33 DOM
8. 2026-06-09
   days on market $134,900 Active 32 DOM
9. 2026-06-08
   days on market $134,900 Active 31 DOM
10. 2026-06-07
    days on market $134,900 Active 30 DOM
11. 2026-06-03
    days on market $134,900 Active 26 DOM
12. 2026-06-02
    days on market $134,900 Active 25 DOM
13. 2026-06-01
    days on market $134,900 Active 24 DOM
14. 2026-05-31
    days on market $134,900 Active 23 DOM
15. 2026-05-30
    days on market $134,900 Active 22 DOM
16. 2026-05-08
    listed $134,900 Active 478-char remark
17. 2021-09-02
    soldstatus $270,000
18. 2015-06-05
    listed $29,900
19. 2014-06-06
    soldstatus $23,500

    Show marketing remark (112 chars)

    Sale in "As Is" condition. Nice corner lot; 3rd bedroom has been converted to office. Good investment.

20. 2013-11-19
    listed $30,000

    Show marketing remark (112 chars)

    Sale in "As Is" condition. Nice corner lot; 3rd bedroom has been converted to office. Good investment.

21. 2011-05-27
    listed $35,000
22. 2008-08-13
    listed $89,900
23. 2007-11-14
    soldstatus $12,250
24. 2007-07-26
    listed $24,500

ⓘ 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: $1,062 · $89/mo
• Projected year-2 tax: $1,062 · $89/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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,244
• − Mortgage interest: −$7,556
• − Property taxes: −$1,062
• − Insurance: −$674
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,924
• Taxable loss: −$1,253
• Est. tax savings @ 24.0%: +$301
• After-tax cash flow: $1,328/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): 45,250
• Household income: $55,160
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2786.0

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 (80%)
• Race & ethnicity: Black 80% White 12% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Korean 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: ▼ -16.31%
• Current HPI: 151.8598
• Rent YoY: ▲ 5.65%
• 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

+450.6% since first listed

9 events — show timeline

• 2026-05-08 Listed $134,900 Greater Alabama MLS
• 2021-09-02 Sold (Public Records) $270,000 Public Records
• 2015-06-05 Listed $29,900 MAAR
• 2014-06-06 Sold (MLS) $23,500 MAAR
• 2013-11-19 Listed $30,000 MAAR
• 2011-05-27 Listed $35,000 MAAR
• 2008-08-13 Listed $89,900 MAAR
• 2007-11-14 Sold (MLS) $12,250 MAAR
• 2007-07-26 Listed $24,500 MAAR

Property tax history

+8.2%/yr

Latest (2025): $1,062 · -5.1% YoY. Source: county tax records.