3018 Althea St · Montgomery, AL 36107

$79,900

3 bd · 1.0 ba · 1,409 sqft · SingleFamily public records · 98 Days on market

Built 1968 7,405 sqft lot $57/sqft · 22% below area Est $141k · 43% under

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

Welcome to 3018 Althea St ! Your Perfect Blend of Comfort, Style, and Convenience! Nestled in the heart of Central Montgomery, this gem is just minutes from shopping, dining, and all the essentials. With an open-concept design, this home offers versatile spaces for both relaxation and entertainment. Enjoy the peace of mind that comes with recent updates, including a newer HVAC system that cools VERY COLD, updated electrical, updated plumbing and newer water heater. Step inside to discover a spacious great room that flows seamlessly into the beautifully updated kitchen, featuring new cabinets, sleek countertops, and new stainless steel appliances. A gathering room off the great room offers endless possibilities for use. This home features 3 bedrooms and 1 bathroom with an over-sized main bedroom designed for ultimate comfort. Durable vinyl plank and tile floors throughout make this home as low-maintenance as it is attractive. Additional spaces include a bonus room, a versatile playroom/office and a separate laundry room for added convenience. The huge backyard is perfect for outdoor living, whether you’re hosting gatherings, gardening, or simply enjoying some fresh air. This home is a fantastic opportunity for both investors and homeowners looking for a property with space, style, and location. Don’t miss your chance to make it yours! Schedule a showing today!

Key facts

• Open-concept design
• Updated electrical
• Newer water heater

Tags

• OPEN-CONCEPT DESIGN
• NEWER HVAC SYSTEM
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• NEWER WATER HEATER
• UPDATED KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 45% 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 $552 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 + 5.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 13y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $72,709 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — 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: 1.52% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.07%
• DSCR: 2.16
• GRM: 5.5

CMA / ARV

• ARV (median comp): $140,551
• List price: $79,900
• Delta: -43.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2430 Plum St	0.52mi	3/2.0	1,388 (-2%)	6mo	$89,000	$64	64
2148 Madison Ave	0.60mi	3/1.0	1,350 (-4%)	4mo	$60,000	$44	62
2627 Geneva St	0.32mi	4/2.0 (+1)	1,526 (+8%)	4mo	$83,000	$54	59
105 Dunn Dr	0.37mi	2/1.0 (-1)	1,295 (-8%)	7mo	$50,600	$39	58
13 Bradley Dr	0.44mi	3/1.0	1,264 (-10%)	6mo	$110,000	$87	57
508 Forest Hills Dr	0.51mi	3/2.0	1,267 (-10%)	1mo	$55,500	$44	55
111 Bradley Dr	0.29mi	3/2.0	1,222 (-13%)	8mo	$8,000	$7	54
3243 Durham Dr	0.69mi	4/2.0 (+1)	1,363 (-3%)	1mo	$150,000	$110	53
2933 Willow Lane Dr	0.39mi	3/2.0	1,234 (-12%)	6mo	$121,000	$98	52
3 Kent St	0.74mi	3/2.0	1,305 (-7%)	1mo	$102,750	$79	49
3326 Vermont Dr	0.62mi	3/2.0	1,568 (+11%)	2mo	$80,000	$51	47
20 Arden Rd	0.63mi	3/2.0	1,575 (+12%)	1mo	$165,000	$105	46

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: 21.9%
• Equity multiple: 1.92×
• Total profit: $20,534
• Equity at exit: $11,913

10-year hold

• IRR: 31.2%
• Equity multiple: 4.06×
• Total profit: $68,567
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,216 high
• Mortgage (P&I): −$419
• Tax from tax record: −$22 /mo · $268/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $486

Break-even live

Break-even rent $601

Max offer price $79,900

Occupancy floor 55%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	43d	1	0.05mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	20d	1	0.23mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	20d	1	0.43mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	20d	1	0.43mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	20d	1	0.45mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	13d	1	0.47mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	20d	1	0.52mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	43d	1	0.57mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	43d	1	0.58mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	20d	1	0.60mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	43d	1	0.60mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	43d	1	0.61mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	13d	1	0.63mi
3319 Willow Lane Dr Montgomery, AL	3.0	2.0	1032	$1,200	$1.16	43d	1	0.64mi
3334 Cottonwood Dr Montgomery, AL	3.0	2.0	1025	$1,295	$1.26	13d	1	0.67mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	20d	1	0.69mi
2310 Yancey Ave Montgomery, AL	3.0	1.0	1212	$1,250	$1.03	43d	1	0.70mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	13d	1	0.72mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	13d	1	0.74mi
239 Forest Hills Dr Montgomery, AL	4.0	1.5	1500	$1,450	$0.97	20d	1	0.74mi
2009 Palmetto St Montgomery, AL	3.0	1.0	1487	$1,050	$0.71	43d	1	0.79mi
3323 Bedford Ln Montgomery, AL	3.0	2.0	1134	$1,200	$1.06	20d	1	0.79mi
108 Calhoun Rd Unit 108B Montgomery, AL	2.0	1.0	1350	$750	$0.56	43d	1	0.81mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	43d	1	0.82mi
3346 Bedford Ln Montgomery, AL	3.0	1.0	1134	$1,295	$1.14	13d	1	0.85mi
2000 Cherry St Montgomery, AL	2.0	1.0	1106	$950	$0.86	43d	1	0.87mi
3359 Bedford Ln Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	13d	1	0.87mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	43d	1	0.88mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	13d	1	0.88mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	43d	1	0.91mi
2009 Yancey Ave Montgomery, AL	3.0	1.0	1140	$1,080	$0.95	20d	1	0.91mi
2454 Spruce Curv Montgomery, AL	3.0	1.0	988	$1,100	$1.11	43d	1	0.91mi
3318 Habersham Rd Montgomery, AL	3.0	2.0	1134	$1,250	$1.10	13d	1	0.92mi
3602 Little John Dr Montgomery, AL	4.0	1.0	1286	$1,400	$1.09	20d	1	0.93mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	43d	1	0.97mi
67 Holliday Dr Montgomery, AL	3.0	1.0	1156	$1,200	$1.04	43d	1	0.97mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	43d	1	0.99mi
817 Dumont Dr Montgomery, AL	3.0	2.0	1635	$1,800	$1.10	13d	1	0.99mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	43d	1	0.99mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	43d	1	0.99mi

Listing history 32 events

1. 2026-06-03
   days on market $79,900 Active 98 DOM
2. 2026-06-02
   days on market $79,900 Active 97 DOM
3. 2026-06-01
   days on market $79,900 Active 96 DOM
4. 2026-05-31
   days on market $79,900 Active 95 DOM
5. 2026-05-30
   days on market $79,900 Active 94 DOM
6. 2026-05-08
   price $79,900 1402-char remark

   Show marketing remark (1402 chars)

   Welcome to 3018 Althea St ! Your Perfect Blend of Comfort, Style, and Convenience! Nestled in the heart of Central Montgomery, this gem is just minutes from shopping, dining, and all the essentials. With an open-concept design, this home offers versatile spaces for both relaxation and entertainment. Enjoy the peace of mind that comes with recent updates, including a newer HVAC system that cools VERY COLD, updated electrical, updated plumbing and newer water heater. Step inside to discover a spacious great room that flows seamlessly into the beautifully updated kitchen, featuring new cabinets, sleek countertops, and new stainless steel appliances. A gathering room off the great room offers endless possibilities for use. This home features 3 bedrooms and 1 bathroom with an over-sized main bedroom designed for ultimate comfort. Durable vinyl plank and tile floors throughout make this home as low-maintenance as it is attractive. Additional spaces include a bonus room, a versatile playroom/office and a separate laundry room for added convenience. The huge backyard is perfect for outdoor living, whether you’re hosting gatherings, gardening, or simply enjoying some fresh air. This home is a fantastic opportunity for both investors and homeowners looking for a property with space, style, and location. Don’t miss your chance to make it yours! Schedule a showing today!

7. 2026-02-25
   listed $85,000 Active 1402-char remark

   Show marketing remark (1402 chars)

   Welcome to 3018 Althea St ! Your Perfect Blend of Comfort, Style, and Convenience! Nestled in the heart of Central Montgomery, this gem is just minutes from shopping, dining, and all the essentials. With an open-concept design, this home offers versatile spaces for both relaxation and entertainment. Enjoy the peace of mind that comes with recent updates, including a newer HVAC system that cools VERY COLD, updated electrical, updated plumbing and newer water heater. Step inside to discover a spacious great room that flows seamlessly into the beautifully updated kitchen, featuring new cabinets, sleek countertops, and new stainless steel appliances. A gathering room off the great room offers endless possibilities for use. This home features 3 bedrooms and 1 bathroom with an over-sized main bedroom designed for ultimate comfort. Durable vinyl plank and tile floors throughout make this home as low-maintenance as it is attractive. Additional spaces include a bonus room, a versatile playroom/office and a separate laundry room for added convenience. The huge backyard is perfect for outdoor living, whether you’re hosting gatherings, gardening, or simply enjoying some fresh air. This home is a fantastic opportunity for both investors and homeowners looking for a property with space, style, and location. Don’t miss your chance to make it yours! Schedule a showing today!

8. 2025-11-03
   status Active
9. 2025-10-16
   status Active
10. 2025-10-10
    price $81,999
11. 2025-10-01
    status Active
12. 2025-09-21
    status Active
13. 2025-09-07
    status Active
14. 2025-09-07
    price $84,000
15. 2025-09-05
    historical
16. 2025-08-12
    price $82,743
17. 2025-06-17
    listed $85,000 Active
18. 2024-12-23
    price $79,900
19. 2024-11-29
    listed $84,900 Active
20. 2023-07-10
    soldstatus $56,000
21. 2023-06-23
    soldstatus $56,000 Closed
22. 2023-06-21
    status Pending
23. 2023-06-13
    historical Contingent
24. 2023-05-30
    status Active
25. 2023-05-18
    historical Contingent
26. 2023-05-03
    status Active
27. 2023-05-03
    historical Contingent
28. 2023-05-03
    status Active
29. 2023-05-02
    historical Contingent
30. 2023-03-31
    listed $70,000 Active
31. 2013-12-02
    soldstatus $10,000
32. 2013-03-09
    listed $19,900

ⓘ 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: $268 · $22/mo
• Projected year-2 tax: $328 · $27/mo
• Expected delta: +$60/yr (+$5/mo · 22.2%)

ⓘ 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 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: $14,591
• − Mortgage interest: −$4,476
• − Property taxes: −$268
• − Insurance: −$400
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$2,324
• Taxable income: $4,789
• Est. tax owed @ 24.0%: −$1,149
• After-tax cash flow: $4,682/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

+301.5% since first listed

27 events — show timeline

• 2026-05-08 Price Changed $79,900 MAAR
• 2026-02-25 Listed $85,000 MAAR
• 2025-11-03 Relisted — MAAR
• 2025-10-16 Relisted — MAAR
• 2025-10-10 Price Changed $81,999 MAAR
• 2025-10-01 Relisted — MAAR
• 2025-09-21 Relisted — MAAR
• 2025-09-07 Relisted — MAAR
• 2025-09-07 Price Changed $84,000 MAAR
• 2025-09-05 Delisted — MAAR
• 2025-08-12 Price Changed $82,743 MAAR
• 2025-06-17 Listed $85,000 MAAR
• 2024-12-23 Price Changed $79,900 MAAR
• 2024-11-29 Listed $84,900 MAAR
• 2023-07-10 Sold (Public Records) $56,000 Public Records
• 2023-06-23 Sold (MLS) $56,000 MAAR
• 2023-06-21 Pending — MAAR
• 2023-06-13 Contingent — MAAR
• 2023-05-30 Relisted — MAAR
• 2023-05-18 Contingent — MAAR
• 2023-05-03 Relisted — MAAR
• 2023-05-03 Contingent — MAAR
• 2023-05-03 Relisted — MAAR
• 2023-05-02 Contingent — MAAR
• 2023-03-31 Listed $70,000 MAAR
• 2013-12-02 Sold (MLS) $10,000 MAAR
• 2013-03-09 Listed $19,900 MAAR

Property tax history

-4.8%/yr

Latest (2025): $268 · +0.0% YoY. Source: county tax records.