2952 Old Farm Rd · Montgomery, AL 36111

$154,900

2 bd · 2.0 ba · 1,847 sqft · SingleFamily public records · 92 Days on market

Built 1975 5,227 sqft lot $84/sqft · 24% below area Est $203k · 24% under

---

Why this score? — see what drove the C+ 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.3/10.0
• 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

SELLER PROVIDING NEW WATER HEATER PRIOR TO CLOSING! Welcome home to this charming 2 bedroom 1.5 bath townhouse that has no HOA, nestled in the prestigious Westminster neighborhood on a quiet, sidewalk lined street. The main floor boasts a thoughtfully designed floor plan featuring an oversized living room with a wood burning fireplace flanked by floor to ceiling bookcases. Step out the back door from the living room and find a brand new patio with a fully fenced back yard for the privacy you’re looking for. The back yard includes a wired storage unit on the patio and a wired workshop alongside the carport for tons of additional space. Another significant exterior upgrade done recently includes cutting down 3 large front yard trees that were close to the home and needed removal. The main floor includes a convenient half-bath and an updated kitchen with a cream-colored backsplash that beautifully complements the countertops. The kitchen connects seamlessly to the living room and a dedicated office with a laundry area. Upstairs you’ll find the spacious primary suite and guest bedroom with plenty of closet space in each. The back of the primary suite includes a separate large bonus room behind sliding doors that'd be great for a nursery, second office, or a craft of your choosing. The full bath completes the upstairs with a double sink vanity, dedicated linen closet, and entrances from each bedroom all of which help to accommodate both bedrooms. Perfectly situated just minutes from the charm of Cloverdale, a variety of premier dining options, and the convenience of a shopping center across the street, this townhouse has everything you're looking for in a place to call home!

Key facts

• Large bonus room
• Storage closet
• Brand new patio

Tags

• FULLY FENCED BACK YARD
• BRAND NEW PATIO
• UPDATED KITCHEN
• LARGE BONUS ROOM
• DOUBLE SINK VANITY
• STORAGE CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: 110 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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 $140,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 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 1975 — 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: 1.03% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.37%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

• ARV (median comp): $202,926
• List price: $154,900
• Delta: -23.67%
• 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
2958 Old Farm Rd	0.01mi	2/2.0	1,712 (-7%)	6mo	$159,000	$93	82
3113 Malone Dr	0.47mi	2/2.0	1,858 (+1%)	8mo	$160,000	$86	70
2948 Canterbury Dr	0.21mi	3/2.0 (+1)	1,702 (-8%)	4mo	$155,000	$91	69
3138 Fernway Dr	0.54mi	3/2.0 (+1)	1,914 (+4%)	5mo	$150,000	$78	59
3020 Hill Hedge Dr	0.32mi	3/2.0 (+1)	2,090 (+13%)	0mo	$190,000	$91	58
1830 Hill Hedge Dr	0.41mi	3/2.0 (+1)	1,674 (-9%)	10mo	$164,500	$98	52
2129 Meadow Lane Dr	0.38mi	3/2.0 (+1)	1,643 (-11%)	9mo	$170,000	$103	52
3406 Sommerville Dr	0.74mi	3/2.0 (+1)	1,728 (-6%)	2mo	$175,000	$101	48
3126 Fernway Dr	0.51mi	3/2.0 (+1)	1,638 (-11%)	8mo	$160,221	$98	46
1728 Robison Hill Rd	0.54mi	3/2.0 (+1)	1,574 (-15%)	1mo	$65,500	$42	44
2009 Commodore St	0.67mi	3/2.0 (+1)	1,661 (-10%)	4mo	$65,000	$39	43
2739 Green Oaks Dr	0.55mi	3/2.0 (+1)	1,572 (-15%)	9mo	$122,000	$78	37

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-8,167
• Equity at exit: $23,096

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $14,625
• Equity at exit: $13,393

Cash invested: $43,372 (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 36111

• Home prices YoY: -6.9%
• Active inventory: 110
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,593 high
• Mortgage (P&I): −$812
• Tax from tax record: −$115 /mo · $1,383/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $266

Break-even live

Break-even rent $1,256

Max offer price $154,900

Occupancy floor 78%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2988 Old Farm Rd Montgomery, AL	3.0	2.5	2314	$1,900	$0.82	43d	1	0.03mi
2983 Old Farm Rd Montgomery, AL	3.0	2.0	2000	$1,725	$0.86	21d	1	0.04mi
1814 Sylvan Dr Montgomery, AL	3.0	2.0	1785	$1,400	$0.78	21d	1	0.19mi
3352 Ridgefield Dr Montgomery, AL	3.0	2.0	1932	$1,761	$0.91	21d	1	0.63mi
2053 Gorgas St Montgomery, AL	3.0	1.0	1955	$1,200	$0.61	21d	1	0.70mi
2014 Commodore St Montgomery, AL	3.0	2.0	1613	$1,450	$0.90	13d	1	0.71mi
2045 Bullard St Unit 1043526P Montgomery, AL	3.0	2.0	1797	$2,198	$1.22	43d	1	0.77mi
2430 Price St Montgomery, AL	2.0	1.5	1275	$1,175	$0.92	13d	1	0.79mi
2440 Price St Unit C Montgomery, AL	3.0	2.0	1800	$1,050	$0.58	43d	1	0.81mi
2441 Price St Unit D Montgomery, AL	3.0	2.0	1264	$900	$0.71	21d	1	0.82mi
2226 Carter Hill Rd Montgomery, AL	2.0	1.0	1506	$905	$0.60	43d	1	0.88mi
3543 Carter Hill Rd Montgomery, AL	1.0–3.0	1.0–2.0	1120	$800	$0.71	13d	16	0.91mi
1738 Fairforest Dr Montgomery, AL	3.0	2.0	2166	$1,895	$0.87	43d	1	0.95mi
1216 Karen Rd Montgomery, AL	3.0	2.0	1620	$1,350	$0.83	13d	1	0.99mi
1450 Crenshaw Pl S Montgomery, AL	3.0	2.0	1641	$1,775	$1.08	43d	1	0.99mi
1425 Blairwood Montgomery, AL	3.0	2.0	1700	$1,850	$1.09	13d	1	1.04mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	43d	1	1.08mi
1117 Karen Rd Montgomery, AL	3.0	1.0	1308	$1,195	$0.91	43d	1	1.19mi
1355 Magnolia Curv Montgomery, AL	3.0	3.0	2260	$1,800	$0.80	13d	1	1.26mi
2651 Clement Curv Montgomery, AL	3.0	2.0	1402	$1,550	$1.11	21d	1	1.29mi
3050 Bryn Mawr Rd Montgomery, AL	3.0	2.0	2290	$1,500	$0.66	43d	1	1.31mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	13d	1	1.41mi
2727 Boultier St Montgomery, AL	1.0–3.0	1.0–2.0	1070	$1,508	$1.41	13d	3	1.42mi
1516 Charleton Dr Montgomery, AL	3.0	2.0	1895	$1,650	$0.87	43d	1	1.43mi
3001 Sutton Dr Montgomery, AL	3.0	3.0	2298	$1,750	$0.76	43d	1	1.44mi
3050 Sutton Dr Montgomery, AL	2.0	2.0	1719	$1,450	$0.84	21d	1	1.50mi

Listing history 27 events

1. 2026-06-18
   days on market $154,900 Active 92 DOM
2. 2026-06-17
   days on market $154,900 Active 91 DOM
3. 2026-06-16
   days on market $154,900 Active 90 DOM
4. 2026-06-15
   days on market $154,900 Active 89 DOM
5. 2026-06-14
   days on market $154,900 Active 87 DOM
6. 2026-06-13
   days on market $154,900 Active 86 DOM
7. 2026-06-10
   days on market $154,900 Active 84 DOM
8. 2026-06-09
   days on market $154,900 Active 83 DOM
9. 2026-06-08
   days on market $154,900 Active 82 DOM
10. 2026-06-07
    pricedays on market $154,900 Active 81 DOM
11. 2026-06-03
    days on market $159,900 Active 77 DOM
12. 2026-06-02
    days on market $159,900 Active 76 DOM
13. 2026-06-01
    days on market $159,900 Active 75 DOM
14. 2026-05-31
    days on market $159,900 Active 74 DOM
15. 2026-05-30
    days on market $159,900 Active 73 DOM
16. 2026-05-01
    price $159,900 1710-char remark

    Show marketing remark (1710 chars)

    SELLER PROVIDING NEW WATER HEATER PRIOR TO CLOSING! Welcome home to this charming 2 bedroom 1.5 bath townhouse that has no HOA, nestled in the prestigious Westminster neighborhood on a quiet, sidewalk lined street. The main floor boasts a thoughtfully designed floor plan featuring an oversized living room with a wood burning fireplace flanked by floor to ceiling bookcases. Step out the back door from the living room and find a brand new patio with a fully fenced back yard for the privacy you’re looking for. The back yard includes a wired storage unit on the patio and a wired workshop alongside the carport for tons of additional space. Another significant exterior upgrade done recently includes cutting down 3 large front yard trees that were close to the home and needed removal. The main floor includes a convenient half-bath and an updated kitchen with a cream-colored backsplash that beautifully complements the countertops. The kitchen connects seamlessly to the living room and a dedicated office with a laundry area. Upstairs you’ll find the spacious primary suite and guest bedroom with plenty of closet space in each. The back of the primary suite includes a separate large bonus room behind sliding doors that'd be great for a nursery, second office, or a craft of your choosing. The full bath completes the upstairs with a double sink vanity, dedicated linen closet, and entrances from each bedroom all of which help to accommodate both bedrooms. Perfectly situated just minutes from the charm of Cloverdale, a variety of premier dining options, and the convenience of a shopping center across the street, this townhouse has everything you're looking for in a place to call home!

17. 2026-03-11
    listed $164,900 Active 1710-char remark

    Show marketing remark (1710 chars)

    SELLER PROVIDING NEW WATER HEATER PRIOR TO CLOSING! Welcome home to this charming 2 bedroom 1.5 bath townhouse that has no HOA, nestled in the prestigious Westminster neighborhood on a quiet, sidewalk lined street. The main floor boasts a thoughtfully designed floor plan featuring an oversized living room with a wood burning fireplace flanked by floor to ceiling bookcases. Step out the back door from the living room and find a brand new patio with a fully fenced back yard for the privacy you’re looking for. The back yard includes a wired storage unit on the patio and a wired workshop alongside the carport for tons of additional space. Another significant exterior upgrade done recently includes cutting down 3 large front yard trees that were close to the home and needed removal. The main floor includes a convenient half-bath and an updated kitchen with a cream-colored backsplash that beautifully complements the countertops. The kitchen connects seamlessly to the living room and a dedicated office with a laundry area. Upstairs you’ll find the spacious primary suite and guest bedroom with plenty of closet space in each. The back of the primary suite includes a separate large bonus room behind sliding doors that'd be great for a nursery, second office, or a craft of your choosing. The full bath completes the upstairs with a double sink vanity, dedicated linen closet, and entrances from each bedroom all of which help to accommodate both bedrooms. Perfectly situated just minutes from the charm of Cloverdale, a variety of premier dining options, and the convenience of a shopping center across the street, this townhouse has everything you're looking for in a place to call home!

18. 2022-07-12
    soldstatus $130,000
19. 2019-08-07
    listed $109,900
20. 2009-03-09
    listed $179,000
21. 2007-05-25
    soldstatus $177,420
22. 2007-05-24
    soldstatus $139,900
23. 2007-04-16
    listed $139,900
24. 2006-06-27
    soldstatus $112,875
25. 2006-06-21
    soldstatus $112,500
26. 2006-05-31
    listed $119,900
27. 2002-07-29
    listed $114,900

ⓘ 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: $1,383 · $115/mo
• Projected year-2 tax: $1,383 · $115/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 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $19,114
• − Mortgage interest: −$8,677
• − Property taxes: −$1,383
• − Insurance: −$774
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$4,506
• Taxable income: $715
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $3,023/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
• City population: 175,913
• Population (ZIP): 12,196

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 34% Asian 3% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Chinese 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: ▼ -11.63%
• Current HPI: 156.4412
• Rent YoY: —
• Metro: —
• 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

+39.2% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $159,900 MAAR
• 2026-03-11 Listed $164,900 MAAR
• 2022-07-12 Sold (Public Records) $130,000 Public Records
• 2019-08-07 Listed $109,900 MAAR
• 2009-03-09 Listed $179,000 MAAR
• 2007-05-25 Sold (Public Records) $177,420 Public Records
• 2007-05-24 Sold (MLS) $139,900 MAAR
• 2007-04-16 Listed $139,900 MAAR
• 2006-06-27 Sold (Public Records) $112,875 Public Records
• 2006-06-21 Sold (MLS) $112,500 MAAR
• 2006-05-31 Listed $119,900 MAAR
• 2002-07-29 Listed $114,900 MAAR

Property tax history

+10.5%/yr

Latest (2025): $1,383 · +3.6% YoY. Source: county tax records.