1128 Karen Rd · Montgomery, AL 36109

$130,000

4 bd · 1.0 ba · 1,548 sqft · SingleFamily public records · 264 Days on market

Built 1960 0.28 ac lot $84/sqft · at area comps Est $134k · at est.

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +8.9/15.0
• 1% rule +6.6/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity! Home has a section8 tenant lined up for $1,280.00 a month. All 7 properties can be purchased for $750,000. Looking for a home with NO CARPET?! You've found it! Luxury vinyl plank floors throughout, huge laundry room, and fresh paint. Best of all is the proximity to shopping, interstate and restaurants!. Fully fenced yard with lots of mature trees for shade. The tenant pays for all utilities, pest control, yard maintenance and air filters. Owner has 7 houses that can be purchased as a bundle for $750,000 (6 our tenant occupied). Roof 5 years old, HVAC 7 years old.

Key facts

• Huge laundry room
• Fully fenced yard
• 0.28 acre lot

Tags

• LUXURY VINYL PLANK FLOORS
• HUGE LAUNDRY ROOM
• FULLY FENCED YARD
• MATURE TREES FOR SHADE
• PROXIMITY TO SHOPPING
• PROXIMITY TO INTERSTATE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: employment D, crime F, amenities D-.
• 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.
• Zoned schools: Flowers Elementary School (math 2% / reading 27%, grade F, #508 of 627 statewide, top 84%, 394 students, 74% FRL); Goodwyn Middle School (math 0% / reading 16%, grade F, #239 of 257 statewide, top 93%, 808 students, 84% FRL); Lee High School (math 2% / reading 8%, grade F, #276 of 305 statewide, top 95%, 1,374 students, 86% FRL).
• Market conditions: Rents rising (+2.6%/yr); 209 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 31% of the median local income ($59k/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 $899 of loan paydown is wiped out by about $4k 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 + 2.6% rent growth), your $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask is 9900% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 264 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 1960 — 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: 1.16% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (median comp): $134,244
• List price: $130,000
• Delta: -3.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1232 Zephyr Hills Dr	0.39mi	4/2.0	1,497 (-3%)	1mo	$128,675	$86	72
1244 Zephyr Hills Dr	0.37mi	4/2.0	1,497 (-3%)	7mo	$155,000	$104	67
3221 Gatsby Ln	0.51mi	3/2.0 (-1)	1,491 (-4%)	0mo	$150,000	$101	61
887 Greg Dr	0.50mi	3/2.0 (-1)	1,492 (-4%)	2mo	$150,000	$101	60
1229 Karen Rd	0.26mi	4/2.0	1,344 (-13%)	3mo	$92,000	$68	59
809 Perry Hill Rd	0.70mi	3/1.0 (-1)	1,545 (-0%)	5mo	$85,000	$55	58
3734 Duquesne Dr	0.48mi	3/2.0 (-1)	1,644 (+6%)	4mo	$170,000	$103	55
3243 Durham Dr	0.46mi	4/2.0	1,363 (-12%)	1mo	$150,000	$110	54
753 Green Ridge Rd	0.57mi	3/2.0 (-1)	1,634 (+6%)	3mo	$163,600	$100	52
1300 Zephyr Hills Dr	0.36mi	3/2.0 (-1)	1,389 (-10%)	6mo	$91,500	$66	52
664 Joryne Dr	0.69mi	3/2.0 (-1)	1,363 (-12%)	1mo	$129,000	$95	38
525 Avondale Rd	0.66mi	3/2.0 (-1)	1,731 (+12%)	6mo	$155,000	$90	36

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,866
• Equity at exit: $19,383

10-year hold

• IRR: 10.6%
• Equity multiple: 1.81×
• Total profit: $29,614
• Equity at exit: $11,240

Cash invested: $36,400 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 209
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,513 high
• Mortgage (P&I): −$682
• Tax from tax record: −$91 /mo · $1,092/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $369

Break-even live

Break-even rent $1,047

Max offer price $130,000

Occupancy floor 71%

Sensitivity live

Price	-10% $442	-5% $406	+0% $369	+5% $332	+10% $295
Rent	-10% $249	-5% $309	+0% $369	+5% $428	+10% $488
Rate	-1.0pp $434	-0.5pp $402	base $369	+0.5pp $335	+1.0pp $301

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1117 Karen Rd Montgomery, AL	3.0	1.0	1308	$1,195	$0.91	45d	1	0.05mi
1154 Lakewood Dr Montgomery, AL	3.0	2.0	1066	$1,350	$1.27	45d	1	0.11mi
3359 Bedford Ln Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	15d	1	0.17mi
3346 Bedford Ln Montgomery, AL	3.0	1.0	1134	$1,295	$1.14	15d	1	0.20mi
1216 Karen Rd Montgomery, AL	3.0	2.0	1620	$1,350	$0.83	15d	1	0.23mi
3323 Bedford Ln Montgomery, AL	3.0	2.0	1134	$1,200	$1.06	22d	1	0.26mi
1229 Karen Rd Montgomery, AL	4.0	2.0	1344	$1,590	$1.18	45d	1	0.27mi
3318 Habersham Rd Montgomery, AL	3.0	2.0	1134	$1,250	$1.10	15d	1	0.30mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	15d	1	0.36mi
844 Sir Michael Dr Montgomery, AL	4.0	2.0	1502	$1,650	$1.10	45d	1	0.37mi
817 Dumont Dr Montgomery, AL	3.0	2.0	1635	$1,800	$1.10	15d	1	0.40mi
1216 Beechdale Rd Montgomery, AL	4.0	2.0	1495	$1,325	$0.89	45d	1	0.45mi
908 Greg Dr Montgomery, AL	3.0	1.0	1520	$1,100	$0.72	22d	1	0.46mi
895 Greg Dr Montgomery, AL	3.0	2.0	1489	$1,600	$1.07	15d	1	0.50mi
860 Greg Dr Montgomery, AL	3.0	2.0	1400	$1,295	$0.93	15d	1	0.55mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	45d	1	0.59mi
688 Joryne Dr Montgomery, AL	3.0	2.0	1500	$1,200	$0.80	45d	1	0.63mi
1738 Fairforest Dr Montgomery, AL	3.0	2.0	2166	$1,895	$0.87	45d	1	0.69mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	22d	1	0.73mi
4041A Beth Manor Dr Montgomery, AL	1.0–3.0	1.0–2.0	925	$1,000	$1.08	22d	20	0.77mi
3602 Little John Dr Montgomery, AL	4.0	1.0	1286	$1,400	$1.09	22d	1	0.82mi
2736 Chevy Chase Dr Montgomery, AL	3.0	1.0	1100	$1,300	$1.18	45d	1	0.84mi
750 S Marquette Dr Montgomery, AL	3.0	1.0	1325	$1,195	$0.90	45d	1	0.86mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	22d	1	0.89mi
1827 Pinecrest Dr Montgomery, AL	4.0	3.0	1893	$1,550	$0.82	15d	1	0.91mi
3692 Fairfield Dr Montgomery, AL	3.0	2.0	1524	$1,400	$0.92	22d	1	0.94mi
1814 Pinecrest Dr Montgomery, AL	3.0	1.0	1053	$990	$0.94	45d	1	0.95mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	22d	1	0.97mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	45d	1	1.01mi
1814 Sylvan Dr Montgomery, AL	3.0	2.0	1785	$1,400	$0.78	22d	1	1.01mi
572 Farmington Rd Montgomery, AL	3.0	2.0	2106	$1,495	$0.71	45d	1	1.03mi
3352 Ridgefield Dr Montgomery, AL	3.0	2.0	1932	$1,761	$0.91	22d	1	1.03mi
560 Farmington Rd Montgomery, AL	4.0	2.0	2161	$1,695	$0.78	15d	1	1.04mi
1839 Robison Hill Rd Montgomery, AL	4.0	2.0	1370	$1,550	$1.13	22d	1	1.05mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	45d	1	1.06mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	15d	1	1.09mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	45d	1	1.10mi
239 Forest Hills Dr Montgomery, AL	4.0	1.5	1500	$1,450	$0.97	22d	1	1.13mi
1516 Charleton Dr Montgomery, AL	3.0	2.0	1895	$1,650	$0.87	45d	1	1.14mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	22d	1	1.15mi

Listing history 29 events

1. 2026-06-21
   days on market $130,000 Active 264 DOM
2. 2026-06-18
   days on market $130,000 Active 261 DOM
3. 2026-06-17
   days on market $130,000 Active 260 DOM
4. 2026-06-16
   days on market $130,000 Active 259 DOM
5. 2026-06-15
   days on market $130,000 Active 258 DOM
6. 2026-06-14
   days on market $130,000 Active 256 DOM
7. 2026-06-13
   remarks 618-char remark
8. 2026-06-13
   days on market $130,000 Active 255 DOM
9. 2026-06-10
   days on market $130,000 Active 253 DOM
10. 2026-06-09
    days on market $130,000 Active 252 DOM
11. 2026-06-08
    days on market $130,000 Active 251 DOM
12. 2026-06-07
    days on market $130,000 Active 250 DOM
13. 2026-06-03
    days on market $130,000 Active 246 DOM
14. 2026-06-02
    days on market $130,000 Active 245 DOM
15. 2026-06-01
    days on market $130,000 Active 244 DOM
16. 2026-05-31
    days on market $130,000 Active 243 DOM
17. 2026-05-30
    days on market $130,000 Active 242 DOM
18. 2026-02-27
    historical $1,300
19. 2026-02-04
    listed $1,300
20. 2025-09-30
    listed $130,000 Active 599-char remark

    Show marketing remark (599 chars)

    Great investment opportunity! Home has a section8 tenant lined up for $1,280.00 a month. All 7 properties can be purchased for $750,000. Looking for a home with NO CARPET?! You've found it! Luxury vinyl plank floors throughout, huge laundry room, and fresh paint. Best of all is the proximity to shopping, interstate and restaurants!. Fully fenced yard with lots of mature trees for shade. The tenant pays for all utilities, pest control, yard maintenance and air filters. Owner has 7 houses that can be purchased as a bundle for $750,000 (6 our tenant occupied). Roof 5 years old, HVAC 7 years old.

21. 2024-07-20
    historical $1,300
22. 2024-05-29
    listed $1,300
23. 2023-06-07
    soldstatus $119,500
24. 2023-06-05
    soldstatus $119,500 Closed 280-char remark

    Show marketing remark (280 chars)

    Wonderful MOVE IN READY home in desirable Lakeview Heights. Both the roof and A/C about 3 years old. Laminate flooring throughout. Fresh paint inside and outside painted 3 years ago. Nice bonus room on the back 4 bedrooms and 2 full baths. Stove and refrigerator to remain. Vacant

25. 2023-05-20
    historical Contingent 280-char remark

    Show marketing remark (280 chars)

    Wonderful MOVE IN READY home in desirable Lakeview Heights. Both the roof and A/C about 3 years old. Laminate flooring throughout. Fresh paint inside and outside painted 3 years ago. Nice bonus room on the back 4 bedrooms and 2 full baths. Stove and refrigerator to remain. Vacant

26. 2023-05-18
    listed $132,500 Active 280-char remark

    Show marketing remark (280 chars)

    Wonderful MOVE IN READY home in desirable Lakeview Heights. Both the roof and A/C about 3 years old. Laminate flooring throughout. Fresh paint inside and outside painted 3 years ago. Nice bonus room on the back 4 bedrooms and 2 full baths. Stove and refrigerator to remain. Vacant

27. 2017-12-06
    soldstatus $400,600
28. 2017-11-30
    soldstatus $30,100
29. 2017-07-10
    listed $34,900

ⓘ 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: $1,092 · $91/mo
• Projected year-2 tax: $1,092 · $91/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 · 19 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: $18,162
• − Mortgage interest: −$7,282
• − Property taxes: −$1,092
• − Insurance: −$650
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$3,782
• Taxable income: $2,450
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $3,837/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): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

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 0.60)
• Race & ethnicity: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• 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

-96.3% since first listed

12 events — show timeline

• 2026-02-27 Rental Removed $1,300 MAAR
• 2026-02-04 Listed for Rent $1,300 MAAR
• 2025-09-30 Listed $130,000 MAAR
• 2024-07-20 Rental Removed $1,300 MAAR
• 2024-05-29 Listed for Rent $1,300 MAAR
• 2023-06-07 Sold (Public Records) $119,500 Public Records
• 2023-06-05 Sold (MLS) $119,500 MAAR
• 2023-05-20 Contingent — MAAR
• 2023-05-18 Listed $132,500 MAAR
• 2017-12-06 Sold (Public Records) $400,600 Public Records
• 2017-11-30 Sold (MLS) $30,100 MAAR
• 2017-07-10 Listed $34,900 MAAR

Property tax history

+13.3%/yr

Latest (2025): $1,092 · -4.5% YoY. Source: county tax records.