162 Glenn Ave · Mobile, AL 36606

$149,169

3 bd · 1.0 ba · 1,038 sqft · SingleFamily public records · 66 Days on market

Built 1989 6,969 sqft lot Est $127k · 18% 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 +23.4/30.0
• DSCR +7.5/10.0
• 1% rule +5.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

* * * VRM: Seller will entertain offers between $149,000 and $169,000 * * * Beautifully remodeled and move-in ready, this 3-bedroom, 2-bath home in Midtown Mobile blends modern style with everyday comfort. Step inside to find luxury vinyl plank flooring flowing throughout an open-concept living space designed for easy living and effortless entertaining. The updated kitchen shines with crisp white cabinetry, granite countertops, and stainless-steel appliances—including a built-in microwave and smooth-top range. The cozy primary bedroom offers a relaxing retreat, and the ensuite bathroom features a stunning tiled shower and a brand-new vanity. With a new roof and new HVAC, the big-t

Key facts

• Remodeled
• Updated kitchen
• Granite countertops

Tags

• REMODELED
• OPEN-CONCEPT LIVING SPACE
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS-STEEL APPLIANCES
• TILED SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/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 $149k (0.0% below list).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 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.
• Zoned-school proficiency averages 14% at this address vs 27% district-wide (-12 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.1%/yr); 174 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $4k 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.
• Current owner paid $76k; list at $149k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $140,218 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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. 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?
7. 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.
8. 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.
9. 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: 1.00% ✗
• Cap rate: 8.51%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $126,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
162 Glenn Ave	0.00mi	3/2.0	1,038 (0%)	1mo	$155,000	$149	95
2869 Ralston Rd	0.15mi	3/1.0	963 (-7%)	5mo	$99,900	$104	77
3003 Ralston Rd	0.25mi	2/1.0 (-1)	983 (-5%)	1mo	$150,000	$153	74
105 Tally Ct W	0.48mi	3/1.0	1,064 (+2%)	1mo	$130,000	$122	72
2706 Briley St	0.25mi	2/1.0 (-1)	969 (-7%)	2mo	$72,000	$74	70
2777 Grafhill Dr N	0.24mi	2/1.0 (-1)	1,090 (+5%)	7mo	$178,500	$164	69
321 Thornhill Cir	0.33mi	3/2.0	1,091 (+5%)	4mo	$178,668	$164	69
2873 Ralston Rd	0.16mi	4/1.0 (+1)	1,163 (+12%)	4mo	$75,000	$64	64
167 Collins St E	0.29mi	2/1.0 (-1)	925 (-11%)	4mo	$99,900	$108	60
155 Collins St E	0.31mi	2/1.0 (-1)	907 (-13%)	4mo	$103,000	$114	56
3019 Calais St	0.40mi	2/1.0 (-1)	936 (-10%)	7mo	$163,500	$175	54
168 Esplanade Ave	0.68mi	3/1.0	1,107 (+7%)	8mo	$128,000	$116	51

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.91×
• Total profit: $-3,559
• Equity at exit: $22,242

10-year hold

• IRR: 9.4%
• Equity multiple: 1.78×
• Total profit: $32,727
• Equity at exit: $12,897

Cash invested: $41,767 (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 36606

• Rents YoY: 5.1%
• Active inventory: 174
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,491 high
• Mortgage (P&I): −$782
• Tax from tax record: −$59 /mo · $705/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $275

Break-even live

Break-even rent $1,143

Max offer price $149,169

Occupancy floor 77%

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: $37,292
• Closing costs: $4,475
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Dunn Ave Mobile, AL	3.0	2.0	1455	$1,250	$0.86	20d	1	0.08mi
2855 Potter Dr Mobile, AL	2.0	1.0	1127	$1,050	$0.93	43d	1	0.08mi
2861 Potter Dr Unit 1043844P Mobile, AL	3.0	2.0	1496	$2,492	$1.67	20d	1	0.10mi
2863 Potter Dr Unit 1043693P Mobile, AL	4.0	2.0	1496	$3,049	$2.04	13d	1	0.11mi
168 W Collins St Mobile, AL	3.0	1.0	968	$725	$0.75	20d	1	0.14mi
2859 Brierwood Dr Mobile, AL	3.0	1.0	1057	$1,500	$1.42	13d	1	0.28mi
3060 Emogene St Mobile, AL	3.0	1.0	1200	$1,400	$1.17	13d	1	0.35mi
276 S Sage Ave Mobile, AL	1.0–2.0	1.0	850	$1,055	$1.24	43d	1	0.41mi
2500 Dauphinwood Dr Mobile, AL	2.0–3.0	1.0–2.0	1250	$1,395	$1.12	13d	19	0.52mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$1,261	$1.62	13d	9	0.56mi
200 S Florida St Unit 101 Mobile, AL	2.0	2.0	1150	$1,375	$1.20	20d	1	0.56mi
120 Paris Ave Mobile, AL	2.0	1.0	1054	$1,150	$1.09	20d	1	0.64mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	20d	1	0.67mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	43d	2	0.67mi
418 Durande Dr Mobile, AL	3.0	2.0	1456	$1,350	$0.93	13d	1	0.69mi
3252 Orleans St Mobile, AL	2.0	1.0	900	$850	$0.94	43d	1	0.70mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	13d	1	0.71mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	13d	1	0.74mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	43d	1	0.74mi
55 Macks St Mobile, AL	2.0	1.0	848	$945	$1.11	20d	1	0.76mi
461 Magnolia Rd Unit A Mobile, AL	2.0	1.0	989	$825	$0.83	43d	1	0.84mi
505 Bel Air Blvd Mobile, AL	1.0–2.0	1.0–2.0	976	$1,274	$1.30	13d	16	0.90mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	20d	1	0.96mi
107 Grand Blvd Mobile, AL	2.0	2.0	1200	$1,295	$1.08	20d	1	0.99mi
156 Hemley Ave Mobile, AL	3.0	1.0	936	$1,195	$1.28	43d	1	1.08mi
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	43d	1	1.16mi
751 Farnell Ln Mobile, AL	2.0	1.0	1100	$1,400	$1.27	43d	1	1.25mi
151 Du Rhu Dr Mobile, AL	1.0–3.0	1.0–2.0	1052	$2,800	$2.66	13d	12	1.26mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,750	$1.39	20d	1	1.30mi
182 Williams St Unit 1043570P Mobile, AL	3.0	1.0	1399	$2,476	$1.77	13d	1	1.33mi
2904 Pleasant Valley Rd Mobile, AL	2.0	1.0	815	$899	$1.10	43d	1	1.35mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	43d	1	1.37mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	43d	1	1.38mi
146 Yester Oaks Dr Mobile, AL	1.0–3.0	1.0–2.5	1203	$1,596	$1.33	13d	12	1.40mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	43d	1	1.40mi
3661 Airport Blvd Mobile, AL	1.0–3.0	1.0–2.5	1187	$1,621	$1.37	13d	24	1.45mi
2850 Edgewood St Mobile, AL	2.0	1.0	816	$1,000	$1.23	20d	1	1.45mi
3655 Old Shell Rd Unit 3655 Mobile, AL	2.0	2.0	1200	$1,850	$1.54	13d	1	1.47mi
3210 Pleasant Valley Rd Mobile, AL	2.0	1.0	850	$825	$0.97	43d	1	1.48mi

Listing history 6 events

1. 2026-04-28
   status Pending
2. 2026-04-08
   status Active
3. 2026-03-24
   status Pending
4. 2026-02-06
   listed $149,169 Active
5. 2025-09-24
   soldstatus $76,400
6. 2017-01-23
   soldstatus $53,000

ⓘ 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: $705 · $59/mo
• Projected year-2 tax: $705 · $59/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 9/10 Extreme 7 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $17,896
• − Mortgage interest: −$8,356
• − Property taxes: −$705
• − Insurance: −$746
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$4,339
• Taxable income: $886
• Est. tax owed @ 24.0%: −$213
• After-tax cash flow: $3,087/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): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

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: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• 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

+181.5% since first listed

6 events — show timeline

• 2026-04-28 Pending — GCMLS AL
• 2026-04-08 Relisted — GCMLS AL
• 2026-03-24 Pending — GCMLS AL
• 2026-02-06 Listed $149,169 GCMLS AL
• 2025-09-24 Sold (Public Records) $76,400 Public Records
• 2017-01-23 Sold (Public Records) $53,000 Public Records

Property tax history

-0.3%/yr

Latest (2025): $705 · +19.1% YoY. Source: county tax records.