404 Capitol Pkwy · Montgomery, AL 36107

$95,600

3 bd · 1.0 ba · 980 sqft · SingleFamily public records · 124 Days on market

Built 1928 7,405 sqft lot $98/sqft · 92% above area

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• 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. Move-In Ready And Marvelous, 404 S Capitol Pkwy Presents 2 Bedrooms, 1 Bath, And An Extremely Functional Floor Plan For An Enhanced Living Experience! A Unique Flex Space Adjacent To Bedroom 2 Can Clone As A 3rd Bedroom Or Office Space. The Open-Feel Kitchen And Breakfast Spaces Are Excellent Sightlines To Your Large Living Room! Whether You're A First Time Buyer, Or In the Market For Rental Property To Add To Or Begin Your Property Portfolio, This Is Your Deal! * * This Property Can Also Be Purchased Along With 122 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. * * Conveniently Located Near Some Of The Best Dining And Entertainment Downtown Montgomery Has To Offer. Please Verify Any Pertinent Info.

Key facts

• Move-in ready
• Unique flex space
• Open-feel kitchen

Tags

• MOVE-IN READY
• UNIQUE FLEX SPACE
• OPEN-FEEL KITCHEN
• LARGE LIVING ROOM
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 40% of the median local income ($32k/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 $661 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; list at $96k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $84,128 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1928 — 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: 1.13% ✓
• Cap rate: 9.77%
• Cash-on-cash: 12.44%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

• ARV (median comp): $49,754
• List price: $95,600
• Delta: 92.15%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
344 Arthur St	0.19mi	3/1.0	933 (-5%)	22mo	$50,000	$54	65
2414 Chapman St	0.47mi	2/1.0 (-1)	1,026 (+5%)	4mo	$39,000	$38	62
2405 Palmetto St	0.46mi	3/2.0	1,008 (+3%)	13mo	$73,500	$73	59
321 Ryan St	0.42mi	2/1.0 (-1)	1,042 (+6%)	16mo	$47,000	$45	52
405 E Shawnee Dr	0.74mi	3/1.0	999 (+2%)	16mo	$40,000	$40	49
420 Calloway St	0.47mi	2/0.5 (-1)	935 (-5%)	20mo	$30,000	$32	47
2518 Poplar St	0.66mi	3/1.0	1,064 (+9%)	23mo	$27,000	$25	36
1728 Winona Ave	0.58mi	2/1.0 (-1)	1,073 (+10%)	23mo	$113,000	$105	33
1423 Madison Ave	0.51mi	2/1.0 (-1)	1,118 (+14%)	19mo	$55,000	$49	32
1224 Ryan St	0.70mi	2/1.0 (-1)	841 (-14%)	12mo	$40,000	$48	28

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: 4.2%
• Equity multiple: 1.17×
• Total profit: $4,425
• Equity at exit: $14,254

10-year hold

• IRR: 15.3%
• Equity multiple: 2.35×
• Total profit: $36,233
• Equity at exit: $8,266

Cash invested: $26,768 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$501
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $277

Break-even live

Break-even rent $733

Max offer price $95,600

Occupancy floor 69%

Sensitivity live

Price	-10% $332	-5% $304	+0% $277	+5% $250	+10% $223
Rent	-10% $192	-5% $235	+0% $277	+5% $320	+10% $363
Rate	-1.0pp $326	-0.5pp $302	base $277	+0.5pp $253	+1.0pp $227

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: $23,900
• Closing costs: $2,868
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Cherry St Montgomery, AL	2.0	1.0	1106	$950	$0.86	45d	1	0.35mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	45d	1	0.41mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	15d	1	0.41mi
1415 Madison Ave Apt E Montgomery, AL	2.0	1.0	825	$1,095	$1.33	15d	1	0.52mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	45d	1	0.75mi
424 N California St Apt D Montgomery, AL	2.0	1.0	850	$778	$0.92	22d	1	0.83mi
517 N Florida St Unit B Montgomery, AL	2.0	1.0	900	$750	$0.83	45d	1	0.90mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	45d	1	0.90mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	45d	1	0.93mi
2205 E 5th St Montgomery, AL	3.0	1.0	1020	$800	$0.78	45d	1	0.93mi
2454 Spruce Curv Montgomery, AL	3.0	1.0	988	$1,100	$1.11	45d	1	0.95mi
319 Olivia Ct Montgomery, AL	2.0	1.0	850	$700	$0.82	22d	1	1.00mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	45d	1	1.04mi
1347 Felder Ave Montgomery, AL	2.0	1.0	1000	$1,095	$1.09	15d	1	1.05mi
301 Bradley Dr Montgomery, AL	2.0	1.0	841	$935	$1.11	15d	1	1.05mi
1343 Felder Ave Montgomery, AL	2.0	1.0	1000	$1,095	$1.09	15d	1	1.05mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	22d	1	1.10mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	45d	1	1.24mi
671 S Perry St Montgomery, AL	2.0	1.0–2.0	525	$1,725	$3.29	22d	1	1.32mi
432 Clanton Ave Montgomery, AL	2.0	1.0	800	$995	$1.24	15d	1	1.43mi
80 Turner Pl Unit 14 Montgomery, AL	2.0	1.0	620	$750	$1.21	45d	1	1.45mi
2727 Boultier St Montgomery, AL	1.0–3.0	1.0–2.0	1070	$1,582	$1.48	15d	3	1.46mi
1814 Pinecrest Dr Montgomery, AL	3.0	1.0	1053	$990	$0.94	45d	1	1.48mi
2006 Harmon St Unit 3 Montgomery, AL	3.0	1.0	800	$500	$0.62	45d	1	1.48mi

Listing history 22 events

1. 2026-06-21
   days on market $95,600 Active 124 DOM
2. 2026-06-18
   days on market $95,600 Active 121 DOM
3. 2026-06-17
   days on market $95,600 Active 120 DOM
4. 2026-06-16
   days on market $95,600 Active 119 DOM
5. 2026-06-15
   days on market $95,600 Active 118 DOM
6. 2026-06-14
   days on market $95,600 Active 116 DOM
7. 2026-06-13
   days on market $95,600 Active 115 DOM
8. 2026-06-10
   days on market $95,600 Active 113 DOM
9. 2026-06-09
   days on market $95,600 Active 112 DOM
10. 2026-06-08
    days on market $95,600 Active 111 DOM
11. 2026-06-07
    days on market $95,600 Active 110 DOM
12. 2026-06-03
    days on market $95,600 Active 106 DOM
13. 2026-06-02
    days on market $95,600 Active 105 DOM
14. 2026-06-01
    days on market $95,600 Active 104 DOM
15. 2026-05-31
    days on market $95,600 Active 103 DOM
16. 2026-05-30
    days on market $95,600 Active 102 DOM
17. 2026-04-08
    price $95,600 892-char remark

    Show marketing remark (892 chars)

    A Great Value-Add Opportunity Near Downtown Montgomery. Move-In Ready And Marvelous, 404 S Capitol Pkwy Presents 2 Bedrooms, 1 Bath, And An Extremely Functional Floor Plan For An Enhanced Living Experience! A Unique Flex Space Adjacent To Bedroom 2 Can Clone As A 3rd Bedroom Or Office Space. The Open-Feel Kitchen And Breakfast Spaces Are Excellent Sightlines To Your Large Living Room! Whether You're A First Time Buyer, Or In the Market For Rental Property To Add To Or Begin Your Property Portfolio, This Is Your Deal! * * This Property Can Also Be Purchased Along With 122 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. * * Conveniently Located Near Some Of The Best Dining And Entertainment Downtown Montgomery Has To Offer. Please Verify Any Pertinent Info.

18. 2026-02-17
    listed $105,000 Active 892-char remark

    Show marketing remark (892 chars)

    A Great Value-Add Opportunity Near Downtown Montgomery. Move-In Ready And Marvelous, 404 S Capitol Pkwy Presents 2 Bedrooms, 1 Bath, And An Extremely Functional Floor Plan For An Enhanced Living Experience! A Unique Flex Space Adjacent To Bedroom 2 Can Clone As A 3rd Bedroom Or Office Space. The Open-Feel Kitchen And Breakfast Spaces Are Excellent Sightlines To Your Large Living Room! Whether You're A First Time Buyer, Or In the Market For Rental Property To Add To Or Begin Your Property Portfolio, This Is Your Deal! * * This Property Can Also Be Purchased Along With 122 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. * * Conveniently Located Near Some Of The Best Dining And Entertainment Downtown Montgomery Has To Offer. Please Verify Any Pertinent Info.

19. 2013-09-26
    listed $92,000
20. 2005-09-09
    soldstatus $62,600
21. 2004-06-19
    listed $66,000
22. 1999-01-18
    listed $62,500

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $458 · $38/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 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $13,013
• − Mortgage interest: −$5,355
• − Property taxes: −$458
• − Insurance: −$478
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − Depreciation: −$2,781
• Taxable income: $1,859
• Est. tax owed @ 24.0%: −$446
• After-tax cash flow: $2,882/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

+53.0% since first listed

6 events — show timeline

• 2026-04-08 Price Changed $95,600 MAAR
• 2026-02-17 Listed $105,000 MAAR
• 2013-09-26 Listed $92,000 MAAR
• 2005-09-09 Sold (MLS) $62,600 MAAR
• 2004-06-19 Listed $66,000 MAAR
• 1999-01-18 Listed $62,500 MAAR

Property tax history

+5.1%/yr

Latest (2025): $458 · +6.3% YoY. Source: county tax records.