1019 Colonial Ct · Mobile, AL 36606

$46,500

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 131 Days on market

Built 1955 7,762 sqft lot $51/sqft · 23% below area Est $60k · 23% under ↓ 15% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to invest in real estate? Come take a look at this one! It is ready for an update for your rental portfolio or your new home. Member of owning entity is an Alabama licensed real estate agent.

Key facts

• 7,762 sq ft lot
• Built 1955
• Listed 131 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.2% 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: schools D-, 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.
• Market conditions: Rents rising fast (+5.1%/yr); 174 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $321 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $40,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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?
6. 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?
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: 2.27% ✓
• Cap rate: 20.15%
• Cash-on-cash: 49.50%
• DSCR: 3.20
• GRM: 3.7

CMA / ARV

• ARV (median comp): $60,187
• List price: $46,500
• Delta: -22.74%
• 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
702 Glenwood St	0.48mi	2/1.0	889 (-2%)	7mo	$40,000	$45	67
1550 Colgin St	0.56mi	2/1.0	930 (+2%)	4mo	$80,000	$86	67
1964 Dublin St	0.28mi	3/1.0 (+1)	1,036 (+14%)	3mo	$15,500	$15	57
731 Jemison St	0.75mi	2/1.0	951 (+4%)	2mo	$75,531	$79	57
1455 Houston St	0.43mi	3/1.0 (+1)	816 (-10%)	4mo	$31,000	$38	54
2067 Victory Ct	0.64mi	2/1.0	846 (-7%)	5mo	$44,500	$53	54
419 Crenshaw St	0.69mi	3/1.0 (+1)	872 (-4%)	3mo	$36,000	$41	53
1572 Van Dorn St	0.69mi	3/1.0 (+1)	900 (-1%)	11mo	$114,000	$127	51
2063 Victory Dr E	0.66mi	2/1.0	849 (-7%)	9mo	$107,000	$126	50
1403 Douglas St	0.74mi	2/1.0	864 (-5%)	11mo	$15,850	$18	47
1714 Hurtel St	0.65mi	3/1.0 (+1)	1,000 (+10%)	4mo	$96,000	$96	45
252 Ellis Ave	0.68mi	2/1.5	1,040 (+14%)	12mo	$138,000	$133	33

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: 49.4%
• Equity multiple: 3.22×
• Total profit: $28,913
• Equity at exit: $6,933

10-year hold

• IRR: 55.8%
• Equity multiple: 7.05×
• Total profit: $78,812
• Equity at exit: $4,020

Cash invested: $13,020 (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: 3.7×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$244
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $537

Break-even live

Break-even rent $378

Max offer price $46,500

Occupancy floor 44%

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: $11,625
• Closing costs: $1,395
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	43d	1	0.46mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	43d	1	0.58mi
728 Bankhead Pl Mobile, AL	2.0	1.0	810	$675	$0.83	43d	1	0.60mi
767 Jemison St Mobile, AL	2.0	1.0	850	$750	$0.88	43d	1	0.75mi
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	43d	1	0.80mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	43d	1	0.95mi
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	43d	1	1.05mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	43d	1	1.14mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	43d	1	1.27mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	20d	1	1.31mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	43d	1	1.31mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	13d	1	1.32mi
2161 Homewood St Unit B Mobile, AL	1.0	1.0	600	$1,295	$2.16	20d	1	1.34mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	20d	1	1.34mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	43d	1	1.36mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$949	$1.22	13d	9	1.40mi
2425 Nortons Ln Unit C Mobile, AL	2.0	1.0	1050	$1,200	$1.14	43d	1	1.42mi
2425 Nortons Ln Unit D Mobile, AL	2.0	1.0	1050	$1,100	$1.05	13d	1	1.42mi
12 S Catherine St Unit 2 Mobile, AL	1.0	1.0	700	$725	$1.04	20d	1	1.43mi
957 Navco Rd Mobile, AL	2.0	1.5	812	$850	$1.05	20d	1	1.47mi
1009 Miami St Mobile, AL	3.0	1.0	768	$1,150	$1.50	43d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $46,500 Active 131 DOM
2. 2026-06-17
   days on market $46,500 Active 130 DOM
3. 2026-06-16
   days on market $46,500 Active 129 DOM
4. 2026-06-15
   days on market $46,500 Active 128 DOM
5. 2026-06-14
   days on market $46,500 Active 126 DOM
6. 2026-06-13
   days on market $46,500 Active 125 DOM
7. 2026-06-10
   days on market $46,500 Active 123 DOM
8. 2026-06-09
   days on market $46,500 Active 122 DOM
9. 2026-06-08
   days on market $46,500 Active 121 DOM
10. 2026-06-07
    days on market $46,500 Active 120 DOM
11. 2026-06-05
    days on market $46,500 Active 117 DOM
12. 2026-06-03
    days on market $46,500 Active 116 DOM
13. 2026-06-02
    days on market $46,500 Active 115 DOM
14. 2026-06-01
    days on market $46,500 Active 114 DOM
15. 2026-05-31
    days on market $46,500 Active 113 DOM
16. 2026-05-30
    days on market $46,500 Active 112 DOM
17. 2026-04-14
    price $46,500 201-char remark

    Show marketing remark (201 chars)

    Ready to invest in real estate? Come take a look at this one! It is ready for an update for your rental portfolio or your new home. Member of owning entity is an Alabama licensed real estate agent.

18. 2026-03-14
    price $49,000 201-char remark

    Show marketing remark (201 chars)

    Ready to invest in real estate? Come take a look at this one! It is ready for an update for your rental portfolio or your new home. Member of owning entity is an Alabama licensed real estate agent.

19. 2026-02-08
    listed $55,000 Active 201-char remark

    Show marketing remark (201 chars)

    Ready to invest in real estate? Come take a look at this one! It is ready for an update for your rental portfolio or your new home. Member of owning entity is an Alabama licensed real estate agent.

ⓘ 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: $424 · $35/mo
• Projected year-2 tax: $424 · $35/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: $12,694
• − Mortgage interest: −$2,605
• − Property taxes: −$424
• − Insurance: −$232
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,353
• Taxable income: $6,049
• Est. tax owed @ 24.0%: −$1,452
• After-tax cash flow: $4,994/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

-15.5% since first listed

3 events — show timeline

• 2026-04-14 Price Changed $46,500 GCMLS AL
• 2026-03-14 Price Changed $49,000 GCMLS AL
• 2026-02-08 Listed $55,000 GCMLS AL

Property tax history

+1.5%/yr

Latest (2025): $424 · +0.0% YoY. Source: county tax records.