1 Courtland Dr · Montgomery, AL 36105

$55,000

2 bd · 1.0 ba · 1,563 sqft · MultiFamily public records · 123 Days on market

Built 1940 ↓ 20% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity. All systems and condition unknown to seller. Seller has never lived in the property. Sold AS-IS, WHERE IS. No Seller concessions will be paid. No Contingencies accepted. CASH ONLY. Schools to be verified by purchaser. No tenant.

Key facts

• Built 1940
• Listed 123 days

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$230,070) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/?-bath units multifamily listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $582/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.7% 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: 79 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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).
• At $1,906/mo this rent would consume 55% of the median local household income ($41k/yr) (locally 679% 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 $380 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.47% ✓
• Cap rate: 31.68%
• Cash-on-cash: 90.65%
• DSCR: 5.03
• GRM: 2.4

CMA / ARV

• ARV (median comp): $230,070
• List price: $55,000
• Delta: -76.09%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 91.3%
• Equity multiple: 5.23×
• Total profit: $65,188
• Equity at exit: $8,201

10-year hold

• IRR: 94.2%
• Equity multiple: 10.88×
• Total profit: $152,196
• Equity at exit: $4,755

Cash invested: $15,400 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,906 high
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $1,163

Break-even live

Break-even rent $433

Max offer price $55,000

Occupancy floor 34%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	—	$1,906
Total (2 units)			$1,906

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 Arlington Rd Unit B Montgomery, AL	2.0	1.0	1100	$925	$0.84	44d	1	0.20mi
3338 S Hull St Montgomery, AL	2.0	2.0	1311	$1,150	$0.88	21d	1	0.42mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	44d	1	0.57mi
3386 Lexington Rd Unit B Montgomery, AL	2.0	1.0	1950	$900	$0.46	21d	1	0.66mi
428 Thorn Pl Montgomery, AL	2.0	1.0	1549	$1,450	$0.94	44d	1	0.67mi
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	44d	1	0.68mi
3357 Lexington Rd Montgomery, AL	2.0	1.0	1200	$1,175	$0.98	13d	1	0.68mi
519 Thorn Pl Montgomery, AL	2.0	1.0	1632	$650	$0.40	21d	1	0.73mi
24 Flood St Montgomery, AL	2.0	1.0	1140	$1,000	$0.88	21d	1	0.77mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	44d	1	0.78mi
3256 Montezuma Rd Montgomery, AL	3.0	2.0	1515	$1,450	$0.96	44d	1	0.79mi
1301 S Perry St Unit A Montgomery, AL	2.0	1.0	1100	$950	$0.86	13d	1	0.79mi
1314 S Court St Montgomery, AL	2.0	2.0	1650	$1,495	$0.91	13d	1	0.80mi
3220 Doris Cir Montgomery, AL	3.0	1.0	1139	$1,100	$0.97	44d	1	0.80mi
3577 Whiting Ave Montgomery, AL	3.0	1.0	1269	$1,150	$0.91	44d	1	0.83mi
3515 Norman Bridge Rd Unit A Montgomery, AL	2.0	1.0	1150	$1,150	$1.00	44d	1	0.85mi
3369 Montezuma Rd Montgomery, AL	3.0	1.0	1281	$1,150	$0.90	44d	1	0.86mi
906 E Fairview Ave Unit 902 Montgomery, AL	2.0	1.0	1100	$995	$0.90	21d	1	0.90mi
3608 Wilmington Rd Montgomery, AL	3.0	1.0	1160	$950	$0.82	44d	1	0.96mi
1020 S Lawrence St Montgomery, AL	2.0	1.0	1711	$2,000	$1.17	13d	1	0.97mi
3356 Audubon Rd Montgomery, AL	2.0	1.5	1340	$950	$0.71	44d	1	1.05mi
2727 Boultier St Montgomery, AL	1.0–3.0	1.0–2.0	1070	$1,508	$1.41	13d	3	1.14mi
3510 Bankhead Ave Montgomery, AL	3.0	3.0	2210	$2,250	$1.02	44d	1	1.27mi
3735 Bridlewood Dr Montgomery, AL	3.0	1.0	1386	$895	$0.65	44d	1	1.29mi
3225 McElvy St Montgomery, AL	3.0	2.0	1258	$1,350	$1.07	13d	1	1.35mi
4037 Oak St Montgomery, AL	3.0	2.0	1314	$1,450	$1.10	44d	1	1.35mi
3737 Wesley Dr Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	44d	1	1.36mi
3649 Princeton Rd Montgomery, AL	3.0	1.0	1266	$1,200	$0.95	21d	1	1.38mi
3701 Wesley Dr Unit 3737 Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	44d	1	1.40mi
370 Collinwood Ave Montgomery, AL	3.0	1.0	1080	$1,000	$0.93	21d	1	1.40mi
3708 Princeton Rd Montgomery, AL	2.0	2.0	1749	$900	$0.51	21d	1	1.42mi
2654 Rutland St Montgomery, AL	3.0	1.0	1176	$1,075	$0.91	21d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $55,000 Active 123 DOM
2. 2026-06-17
   days on market $55,000 Active 122 DOM
3. 2026-06-16
   days on market $55,000 Active 121 DOM
4. 2026-06-15
   days on market $55,000 Active 120 DOM
5. 2026-06-14
   days on market $55,000 Active 118 DOM
6. 2026-06-13
   days on market $55,000 Active 117 DOM
7. 2026-06-10
   days on market $55,000 Active 115 DOM
8. 2026-06-09
   days on market $55,000 Active 114 DOM
9. 2026-06-08
   days on market $55,000 Active 113 DOM
10. 2026-06-07
    remarks 267-char remark
11. 2026-06-07
    pricestatusdays on market $55,000 Active 112 DOM
12. 2026-06-03
    days on market $80,000 Contingent 108 DOM
13. 2026-06-02
    days on market $80,000 Contingent 107 DOM
14. 2026-06-01
    days on market $80,000 Contingent 106 DOM
15. 2026-05-31
    days on market $80,000 Contingent 105 DOM
16. 2026-05-30
    days on market $80,000 Contingent 104 DOM
17. 2026-05-18
    historical Contingent 258-char remark

    Show marketing remark (258 chars)

    Great investment opportunity. All systems and condition unknown to seller. Seller has never lived in the property. Sold AS-IS, WHERE IS. No Seller concessions will be paid. No Contingencies accepted. CASH ONLY. Schools to be verified by purchaser. No tenant.

18. 2026-03-24
    price $80,000 258-char remark

    Show marketing remark (258 chars)

    Great investment opportunity. All systems and condition unknown to seller. Seller has never lived in the property. Sold AS-IS, WHERE IS. No Seller concessions will be paid. No Contingencies accepted. CASH ONLY. Schools to be verified by purchaser. No tenant.

19. 2026-02-15
    listed $100,000 Active 258-char remark

    Show marketing remark (258 chars)

    Great investment opportunity. All systems and condition unknown to seller. Seller has never lived in the property. Sold AS-IS, WHERE IS. No Seller concessions will be paid. No Contingencies accepted. CASH ONLY. Schools to be verified by purchaser. No tenant.

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $372 · $31/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $22,872
• − Mortgage interest: −$3,081
• − Property taxes: −$372
• − Insurance: −$275
• − Repairs & maintenance: −$1,830
• − Management: −$1,830
• − Depreciation: −$1,600
• Taxable income: $13,884
• Est. tax owed @ 24.0%: −$3,332
• After-tax cash flow: $10,628/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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 (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• Rent YoY: —
• 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

-20.0% since first listed

3 events — show timeline

• 2026-05-18 Contingent — MAAR
• 2026-03-24 Price Changed $80,000 MAAR
• 2026-02-15 Listed $100,000 MAAR

Property tax history

+1.4%/yr

Latest (2025): $372 · +0.0% YoY. Source: county tax records.