122 S Capitol Pkwy · Montgomery, AL 36107

$137,000

4 bd · 2.0 ba · 1,955 sqft · SingleFamily public records · 121 Days on market

Built 1920 0.28 ac lot $70/sqft · 12% below area Est $156k · 12% 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 +24.8/30.0
• ARV discount +13.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.2/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A Great Value-Add Opportunity Near Downtown Montgomery. Well Positioned In Historic Capitol Heights, 122 S Capitol Pkwy Presents Ample Opportunities To Begin Or Enhance Your Rental Portfolio- Or Start Your Home Journey With Class! Fresh Paint Flows Throughout This 4 Bedroom/2 Bath Floorplan Effortlessly, With Large Rooms Filled With Bright-Natural Light. Timelessly-Preserved Original Hardwoods Leads You To A Large Kitchen With Tons Of Cabinet And Countertop Space. After You Stop By 4 Generous Bedrooms/2 Huge Baths, And A Backyard Deck, Finish Your Tour With A Bonus Basement Space That Will Make This Home A Top Choice! Schedule Your Tour Today! * * This Property Can Also Be Purchased Along With 404 S Capitol Ave, 2040 McKinley Ave, 2106 Capitol Ave, 2134 Winona Ave, 218 N Lewis St, And 690 Ponce De Leon Ave-All Or In Part At A Portfolio Package Price Of $800,000 * * Purposefully Located Near Montgomery's Thriving Downtown District. Please Verify Any Pertinent Info.

Key facts

• Bonus basement space
• Large kitchen
• Backyard deck

Tags

• HISTORIC CAPITOL HEIGHTS
• LARGE KITCHEN
• BACKYARD DECK
• BONUS BASEMENT SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $137k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $137k).
• Recommended offer: $121k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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: Rents rising fast (+5.0%/yr); 67 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $1,397/mo this rent would consume 52% of the median local household income ($32k/yr) (locally 642% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $947 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.
• At projected returns (-3.0% appreciation + 5.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 121 days — a 12% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y ago; this cycle's ask has dropped $28k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; list at $137k implies a 87% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.02% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.10%
• DSCR: 1.40
• GRM: 8.2

CMA / ARV

• ARV (median comp): $156,270
• List price: $137,000
• Delta: -12.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 S Capitol Dr	0.13mi	3/1.5 (-1)	2,039 (+4%)	8mo	$95,000	$47	74
2100 Capitol Ave	0.43mi	3/2.0 (-1)	2,056 (+5%)	2mo	$145,000	$71	65
446 Buford St	0.40mi	3/1.0 (-1)	1,899 (-3%)	4mo	$108,000	$57	64
1807 St Charles Ave	0.33mi	4/2.0	1,736 (-11%)	2mo	$65,500	$38	64
1529 Madison Ave	0.25mi	3/2.0 (-1)	2,180 (+12%)	3mo	$55,000	$25	62
1536 Yancey Ave	0.43mi	3/2.0 (-1)	1,804 (-8%)	8mo	$151,560	$84	56
2046 Madison Ave	0.44mi	4/3.0	2,242 (+15%)	7mo	$202,000	$90	45
2219 St Charles Ave	0.66mi	3/2.0 (-1)	1,736 (-11%)	2mo	$155,000	$89	44
2110 Charles Ave	0.51mi	3/2.0 (-1)	1,750 (-10%)	12mo	$86,000	$49	44
102 Vonora Ave	0.40mi	3/1.0 (-1)	1,677 (-14%)	11mo	$130,000	$78	39
2041 Capitol Ave	0.41mi	3/1.0 (-1)	1,700 (-13%)	15mo	$124,000	$73	38
2134 Winona Ave	0.59mi	3/1.0 (-1)	1,664 (-15%)	1mo	$101,700	$61	37

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-800
• Equity at exit: $20,427

10-year hold

• IRR: 10.9%
• Equity multiple: 1.93×
• Total profit: $35,485
• Equity at exit: $11,845

Cash invested: $38,360 (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 36107

• Home prices YoY: -10.9%
• Rents YoY: 5.0%
• Active inventory: 67
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$718
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $291

Break-even live

Break-even rent $1,029

Max offer price $137,000

Occupancy floor 74%

Sensitivity live

Price	-10% $368	-5% $330	+0% $291	+5% $252	+10% $213
Rent	-10% $180	-5% $236	+0% $291	+5% $346	+10% $401
Rate	-1.0pp $360	-0.5pp $326	base $291	+0.5pp $255	+1.0pp $219

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: $34,250
• Closing costs: $4,110
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 S Capitol Pkwy Montgomery, AL	3.0	1.0	1550	$1,500	$0.97	44d	1	0.04mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	14d	1	0.34mi
2009 Palmetto St Montgomery, AL	3.0	1.0	1487	$1,050	$0.71	44d	1	0.37mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	44d	1	0.46mi
1008 Pelham St Montgomery, AL	4.0	2.0	1288	$1,300	$1.01	44d	1	0.56mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	21d	1	0.70mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	21d	1	1.01mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	14d	1	1.01mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	21d	1	1.05mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	44d	1	1.18mi
2043 Hazel Hedge Ln Montgomery, AL	4.0	3.0	2001	$1,650	$0.82	14d	1	1.24mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	14d	1	1.32mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	1.39mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	44d	1	1.41mi
2001 Speigle St Montgomery, AL	3.0	1.0	1260	$1,035	$0.82	44d	1	1.42mi
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	21d	1	1.44mi
2009 Bullard St Montgomery, AL	5.0	2.0	1992	$1,975	$0.99	21d	1	1.44mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $137,000 Active 121 DOM
2. 2026-06-17
   days on market $137,000 Active 120 DOM
3. 2026-06-16
   days on market $137,000 Active 119 DOM
4. 2026-06-15
   days on market $137,000 Active 118 DOM
5. 2026-06-14
   days on market $137,000 Active 116 DOM
6. 2026-06-13
   pricedays on market $137,000 Active 115 DOM
7. 2026-06-10
   days on market $148,500 Active 113 DOM
8. 2026-06-09
   days on market $148,500 Active 112 DOM
9. 2026-06-08
   days on market $148,500 Active 111 DOM
10. 2026-06-07
    days on market $148,500 Active 110 DOM
11. 2026-06-03
    days on market $148,500 Active 106 DOM
12. 2026-06-02
    days on market $148,500 Active 105 DOM
13. 2026-06-01
    days on market $148,500 Active 104 DOM
14. 2026-05-31
    days on market $148,500 Active 103 DOM
15. 2026-05-30
    days on market $148,500 Active 102 DOM
16. 2026-04-08
    price $148,500 985-char remark

    Show marketing remark (985 chars)

    A Great Value-Add Opportunity Near Downtown Montgomery. Well Positioned In Historic Capitol Heights, 122 S Capitol Pkwy Presents Ample Opportunities To Begin Or Enhance Your Rental Portfolio- Or Start Your Home Journey With Class! Fresh Paint Flows Throughout This 4 Bedroom/2 Bath Floorplan Effortlessly, With Large Rooms Filled With Bright-Natural Light. Timelessly-Preserved Original Hardwoods Leads You To A Large Kitchen With Tons Of Cabinet And Countertop Space. After You Stop By 4 Generous Bedrooms/2 Huge Baths, And A Backyard Deck, Finish Your Tour With A Bonus Basement Space That Will Make This Home A Top Choice! Schedule Your Tour Today! * * This Property Can Also Be Purchased Along With 404 S Capitol Ave, 2040 McKinley Ave, 2106 Capitol Ave, 2134 Winona Ave, 218 N Lewis St, And 690 Ponce De Leon Ave-All Or In Part At A Portfolio Package Price Of $800,000 * * Purposefully Located Near Montgomery's Thriving Downtown District. Please Verify Any Pertinent Info.

17. 2026-02-17
    listed $165,000 Active 985-char remark

    Show marketing remark (985 chars)

    A Great Value-Add Opportunity Near Downtown Montgomery. Well Positioned In Historic Capitol Heights, 122 S Capitol Pkwy Presents Ample Opportunities To Begin Or Enhance Your Rental Portfolio- Or Start Your Home Journey With Class! Fresh Paint Flows Throughout This 4 Bedroom/2 Bath Floorplan Effortlessly, With Large Rooms Filled With Bright-Natural Light. Timelessly-Preserved Original Hardwoods Leads You To A Large Kitchen With Tons Of Cabinet And Countertop Space. After You Stop By 4 Generous Bedrooms/2 Huge Baths, And A Backyard Deck, Finish Your Tour With A Bonus Basement Space That Will Make This Home A Top Choice! Schedule Your Tour Today! * * This Property Can Also Be Purchased Along With 404 S Capitol Ave, 2040 McKinley Ave, 2106 Capitol Ave, 2134 Winona Ave, 218 N Lewis St, And 690 Ponce De Leon Ave-All Or In Part At A Portfolio Package Price Of $800,000 * * Purposefully Located Near Montgomery's Thriving Downtown District. Please Verify Any Pertinent Info.

18. 2012-12-18
    listed $137,500
19. 2004-08-05
    soldstatus $73,420
20. 2002-10-05
    listed $79,950
21. 2002-03-22
    listed $95,900
22. 2000-05-19
    listed $74,900
23. 1999-01-26
    listed $73,700

ⓘ 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: $445 · $37/mo
• Projected year-2 tax: $562 · $47/mo
• Expected delta: +$116/yr (+$10/mo · 26.2%)

ⓘ 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 7 d/yr ≥107°F today · 19 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: $16,761
• − Mortgage interest: −$7,674
• − Property taxes: −$445
• − Insurance: −$685
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$3,985
• Taxable income: $1,290
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $3,180/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): 8,001
• Household income: $32,492
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 642.0

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 0.69)
• Race & ethnicity: Black 43% White 27% Hispanic / Latino 23% Two or more races 20%
• Hispanic origin (detail): Mexican 8% Cuban 3%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 13%

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: ▼ -18.16%
• Current HPI: 147.8065
• Rent YoY: ▲ 5.05%
• 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

+101.5% since first listed

8 events — show timeline

• 2026-04-08 Price Changed $148,500 MAAR
• 2026-02-17 Listed $165,000 MAAR
• 2012-12-18 Listed $137,500 MAAR
• 2004-08-05 Sold (MLS) $73,420 MAAR
• 2002-10-05 Listed $79,950 MAAR
• 2002-03-22 Listed $95,900 MAAR
• 2000-05-19 Listed $74,900 MAAR
• 1999-01-26 Listed $73,700 MAAR

Property tax history

+5.3%/yr

Latest (2025): $445 · -9.6% YoY. Source: county tax records.