5404 Larchmont Dr · Mobile, AL 36693

$215,000

3 bd · 2.0 ba · 1,585 sqft · SingleFamily public records · 72 Days on market

Built 1970 1.00 ac lot Est $200k · 8% 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 +14.9/30.0
• DSCR +4.5/10.0
• ARV discount +4.1/15.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 BR 2 BA updated home is one you will not want to miss. Close to everything, schools, parks and shopping. So many upgraded items through out, it is a must to see. Bath rooms are updated, large walking in closet is master. Driveway provide off street parking. Beautiful hanging Barn door through out show its true character. Many memories have been made in this beautiful back yard with the big beautiful oak tree. BUYER TO VERIFY ALL INFORMATION AND MEASUREMENTS.

Key facts

• Sliding barn doors
• Versatile den
• Walk in closets

Tags

• UPDATED RANCH STYLE BRICK HOME
• OPEN KITCHEN AND DINING AREA
• SPACIOUS LIVING ROOM
• VERSATILE DEN
• SLIDING BARN DOORS
• WALK IN CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $61 ($736/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 $172k (20.0% below list).
• Recommended offer: $172k (20.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.9% in Mobile — 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 75/100 on livability (#20 in AL, #4,262 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Mobile County (urban): math 15% / reading 39% proficiency, ranked #81 of 129 in AL (top 63%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Olive J Dodge Elementary School (math 6% / reading 35%, grade F, #453 of 627 statewide, top 72%, 875 students, 67% FRL); Murphy High School (math 10% / reading 19%, grade F, #220 of 305 statewide, top 77%, 1,254 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents flat; 142 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Mobile 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 72 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $171,922 (20.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.22%
• DSCR: 1.05
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $199,710
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5404 Larchmont Dr	0.00mi	3/2.0	1,585 (0%)	0mo	$222,000	$140	100
5312 Grishilde Dr	0.32mi	3/2.0	1,736 (+10%)	8mo	$191,900	$111	62
5108 Yorkwood Rd S	0.43mi	3/2.0	1,489 (-6%)	15mo	$208,000	$140	57
4375 Antares Ln	0.74mi	3/2.0	1,528 (-4%)	7mo	$225,000	$147	53
2612 East Rd	0.58mi	3/2.0	1,384 (-13%)	0mo	$124,000	$90	52
2629 Mountbrook Dr	0.56mi	3/2.0	1,390 (-12%)	3mo	$189,250	$136	51
3155 Maudelayne Dr E	0.58mi	3/2.0	1,770 (+12%)	6mo	$155,000	$88	49
5504 Highland Rd	0.57mi	3/1.5	1,457 (-8%)	13mo	$145,000	$100	47
5420 Windmill Dr	0.71mi	3/2.0	1,689 (+7%)	13mo	$190,000	$112	45
2871 Brookside Dr	0.70mi	3/2.0	1,806 (+14%)	7mo	$292,500	$162	38
5204 Burma Rd	0.71mi	2/2.0 (-1)	1,820 (+15%)	1mo	$230,000	$126	37
2819 Ramada Dr W	0.65mi	3/2.0	1,803 (+14%)	15mo	$165,000	$92	34

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 · 0.24% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.41×
• Total profit: $-35,672
• Equity at exit: $32,057

10-year hold

• IRR: -14.5%
• Equity multiple: 0.26×
• Total profit: $-44,443
• Equity at exit: $18,589

Cash invested: $60,200 (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 36693

• Home prices YoY: -28.1%
• Rents YoY: 0.2%
• Active inventory: 142
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$80 /mo · $958/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $61

Break-even live

Break-even rent $1,642

Max offer price $215,000

Occupancy floor 91%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2754 Seaton Ct Mobile, AL	3.0	2.5	1640	$1,950	$1.19	13d	1	0.36mi
4950 Government Blvd Mobile, AL	1.0–4.0	1.0–2.5	1225	$1,321	$1.08	13d	7	0.78mi
4273 Vega Dr Mobile, AL	3.0	1.5	1300	$1,600	$1.23	43d	1	0.80mi
4861 Woodcliff Dr N Mobile, AL	3.0	2.0	1610	$1,300	$0.81	43d	1	0.94mi
1611 Rochelle St Mobile, AL	3.0	2.0	1085	$1,650	$1.52	21d	1	0.97mi
4361 Montclair Cir E Mobile, AL	3.0	2.0	1456	$1,700	$1.17	43d	1	1.18mi
6190 Girby Rd Mobile, AL	1.0–3.0	1.0–2.0	1034	$1,789	$1.73	13d	15	1.21mi
2316 Woodland Rd Mobile, AL	4.0	2.0	1560	$2,200	$1.41	13d	1	1.27mi
6405 Shady Ln Mobile, AL	3.0	2.0	1442	$1,300	$0.90	43d	1	1.49mi

Listing history 8 events

1. 2026-03-16
   status Pending
2. 2026-01-18
   status Active
3. 2026-01-14
   status Pending
4. 2025-12-31
   listed $215,000 Active
5. 2021-12-27
   soldstatus $195,000
6. 2021-12-20
   soldstatus $195,000 Closed 469-char remark

   Show marketing remark (469 chars)

   This 3 BR 2 BA updated home is one you will not want to miss. Close to everything, schools, parks and shopping. So many upgraded items through out, it is a must to see. Bath rooms are updated, large walking in closet is master. Driveway provide off street parking. Beautiful hanging Barn door through out show its true character. Many memories have been made in this beautiful back yard with the big beautiful oak tree. BUYER TO VERIFY ALL INFORMATION AND MEASUREMENTS.

7. 2021-11-28
   historical 469-char remark

   Show marketing remark (469 chars)

   This 3 BR 2 BA updated home is one you will not want to miss. Close to everything, schools, parks and shopping. So many upgraded items through out, it is a must to see. Bath rooms are updated, large walking in closet is master. Driveway provide off street parking. Beautiful hanging Barn door through out show its true character. Many memories have been made in this beautiful back yard with the big beautiful oak tree. BUYER TO VERIFY ALL INFORMATION AND MEASUREMENTS.

8. 2021-07-15
   listed $195,000 469-char remark

   Show marketing remark (469 chars)

   This 3 BR 2 BA updated home is one you will not want to miss. Close to everything, schools, parks and shopping. So many upgraded items through out, it is a must to see. Bath rooms are updated, large walking in closet is master. Driveway provide off street parking. Beautiful hanging Barn door through out show its true character. Many memories have been made in this beautiful back yard with the big beautiful oak tree. BUYER TO VERIFY ALL INFORMATION AND MEASUREMENTS.

ⓘ 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: $958 · $80/mo
• Projected year-2 tax: $958 · $80/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 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,631
• − Mortgage interest: −$12,043
• − Property taxes: −$958
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,650
• − Management: −$1,650
• − Depreciation: −$6,255
• Taxable loss: −$3,001
• Est. tax savings @ 24.0%: +$720
• After-tax cash flow: $1,456/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: Mobile County
• NCES district ID: 0102370
• Math proficiency: 15% ▼ -28.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $42,455
• Composite: 22.9/100
• National rank: #8002
• State rank: #81 of 129 in AL

Livability — Mobile

• Score: 75/100
• State rank: #20
• US rank: #4262

Category grades

Amenities B- Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mobile, AL
• County: Mobile County · 246,577 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 18,726
• Household income: $68,933
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 498.0

Population outlook (Mobile County) Hauer SSP2

• Today (2025): 415,303 people
• By 2030: 411,755 · -0.9%
• By 2040: 399,670 · -3.8%
• By 2050: 382,616 · -7.9%
• By 2075: 337,353 · -18.8%
• By 2100: 283,391 · -31.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Black 23% Hispanic / Latino 5% Asian 4% Two or more races 4%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 4% Tagalog/Filipino 2% Vietnamese 1%

Political lean MEDSL · Mobile

• 2024 margin: R (+16.4) · D 41.3% · R 57.7%
• 2008→2024 swing: -7.7pp toward R · 2008: -8.7pp · 2024: -16.4pp
• All cycles: 2024: R+16.4 2020: R+11.9 2016: R+13.9 2012: R+9.3 2008: R+8.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.22%
• Current HPI: 182.6406
• Rent YoY: ▲ 0.24%
• Metro: Mobile, 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

+10.3% since first listed

8 events — show timeline

• 2026-03-16 Pending — GCMLS AL
• 2026-01-18 Relisted — GCMLS AL
• 2026-01-14 Pending — GCMLS AL
• 2025-12-31 Listed $215,000 GCMLS AL
• 2021-12-27 Sold (Public Records) $195,000 Public Records
• 2021-12-20 Sold (MLS) $195,000 BCAR
• 2021-11-28 Delisted — BCAR
• 2021-07-15 Listed $195,000 BCAR

Property tax history

+6.9%/yr

Latest (2025): $958 · +4.6% YoY. Source: county tax records.