409 Chisholm St · Montgomery, AL 36110

$20,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 31 Days on market

Built 1948 $28/sqft · 43% below area Est $35k · 43% under ↓ 23% since listing

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Listing remarks MLS

HUD HOMES SOLD AS IS.

Key facts

• Parking
• Built 1948
• Listed 31 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Utilities: unknown status
• Home design: Single-story home; Vinyl siding; Slab foundation
• Construction: Built with vinyl siding
• Exterior features: Patio; City lot

Interior

• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Interior features: Carpet flooring
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 47.2% 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: 62 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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

• Watch-outs: built in 1948 — 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 $19,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 5.18% ✓
• Cap rate: 47.20%
• Cash-on-cash: 146.09%
• DSCR: 7.50
• GRM: 1.6

CMA / ARV

• ARV (median comp): $35,218
• List price: $20,000
• Delta: -43.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
341 Chisholm St	0.08mi	3/1.0 (+1)	756 (+5%)	11mo	$33,500	$44	74
462 E Park Ave	0.17mi	2/1.0	755 (+5%)	14mo	$12,000	$16	72
121 Kiwanis St	0.41mi	3/1.0 (+1)	735 (+2%)	1mo	$27,000	$37	72
3915 Fairground Rd	0.18mi	2/1.0	792 (+10%)	6mo	$39,500	$50	70
4010 Vandiver Ct	0.20mi	2/1.0	630 (-12%)	11mo	$34,000	$54	60
200 Gardendale Dr	0.32mi	2/1.0	825 (+15%)	18mo	$63,500	$77	45
1824 Rigby St	0.62mi	2/1.0	660 (-8%)	20mo	$15,000	$23	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.18×
• Total profit: $40,194
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 17.24×
• Total profit: $90,970
• Equity at exit: $1,729

Cash invested: $5,600 (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 36110

• Home prices YoY: -34.8%
• Active inventory: 62
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,035 medium
• Mortgage (P&I): −$105
• Tax from tax record: −$23 /mo · $273/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $682

Break-even live

Break-even rent $172

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4010 Vandiver Ct Montgomery, AL	2.0	2.0	630	$1,050	$1.67	44d	1	0.20mi
2006 Harmon St Unit 2 Montgomery, AL	1.0	1.0	500	$800	$1.60	44d	1	1.33mi

Listing history 18 events

1. 2026-06-15
   status $20,000 Pending 31 DOM
2. 2026-06-15
   days on market $20,000 Active 31 DOM
3. 2026-06-14
   days on market $20,000 Active 29 DOM
4. 2026-06-13
   days on market $20,000 Active 28 DOM
5. 2026-06-10
   days on market $20,000 Active 26 DOM
6. 2026-06-09
   days on market $20,000 Active 25 DOM
7. 2026-06-08
   days on market $20,000 Active 24 DOM
8. 2026-06-07
   days on market $20,000 Active 23 DOM
9. 2026-06-03
   days on market $20,000 Active 19 DOM
10. 2026-06-02
    days on market $20,000 Active 18 DOM
11. 2026-06-01
    days on market $20,000 Active 17 DOM
12. 2026-05-31
    days on market $20,000 Active 16 DOM
13. 2026-05-30
    days on market $20,000 Active 15 DOM
14. 2026-05-15
    status Active 551-char remark
15. 2026-04-03
    historical 551-char remark
16. 2026-04-02
    listed $20,000 551-char remark
17. 2006-08-25
    soldstatus $28,000 21-char remark

    Show marketing remark (21 chars)

    HUD HOMES SOLD AS IS.

18. 2006-06-09
    listed $26,000 21-char remark

    Show marketing remark (21 chars)

    HUD HOMES SOLD AS IS.

ⓘ 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: $273 · $23/mo
• Projected year-2 tax: $273 · $23/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 ≥107°F today · 20 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: $12,420
• − Mortgage interest: −$1,120
• − Property taxes: −$273
• − Insurance: −$100
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$582
• Taxable income: $8,359
• Est. tax owed @ 24.0%: −$2,006
• After-tax cash flow: $6,175/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): 12,102
• Household income: $47,315
• Rent vs Own: 50.0% rent · 50.0% own
• Severe rent burden: 753.0

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 11% Two or more races 3% Asian 2% Hispanic / Latino 1%
• Common ancestry: Hispanic 1%
• Foreign-born: 2% · China, Canada
• Languages at home: 96% English-only · Spanish 2% Other Asian/Pacific 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: ▼ -35.37%
• Current HPI: 66.3114
• 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

-23.1% since first listed

6 events — show timeline

• 2026-06-15 Pending — MAAR
• 2026-05-15 Relisted — MAAR
• 2026-04-03 Delisted — MAAR
• 2026-04-02 Listed $20,000 MAAR
• 2006-08-25 Sold (MLS) $28,000 MAAR
• 2006-06-09 Listed $26,000 MAAR

Property tax history

+4.3%/yr

Latest (2025): $273 · +6.8% YoY. Source: county tax records.