2612 East Rd · Mobile, AL 36693

$155,000

3 bd · 2.0 ba · 1,384 sqft · SingleFamily public records · 3 Days on market

Built 1971 1.00 ac lot $112/sqft · 20% below area Est $193k · 20% under ↓ 20% since listing

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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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.9/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

This home is conveniently located tucked quietly off of Cottage Hill Road. This 3 bedroom, 2 bath brick home features a living room, dining room, and the family room is open to the kitchen. Inside you will find a cozy fireplace and a functional layout ready for your vision. This home offers a lot potential with a fenced backyard and patio. Ideal for a rental, flip, or renovation - Don't miss this chance to turn a great property into a standout investment!

Key facts

• Cozy fireplace
• Functional layout
• Patio

Tags

• FENCED BACKYARD
• COZY FIREPLACE
• FUNCTIONAL LAYOUT
• PATIO

Property features AI

Exterior

• Parking: Driveway with space for 2 vehicles
• Utilities: Electricity available (110V and 220V); Public sewer; Water available
• Home design: Single-family residence (residential); Located in Highland Estates
• Construction: Brick 4 sides; Shingle roof; Built in 1971; Slab foundation; Wood frame windows
• Exterior features: Private yard; Rain gutters; Storage shed; Front and back yard fencing; View

Interior

• Kitchen: Dishwasher; Electric cooktop; Microwave; Refrigerator; Breakfast bar
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Disappearing attic stairs; Separate dining room; Breakfast bar, stained cabinets, laminate countertops, and view to family room; Fireplace (present)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Cap rate 8.4% 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: Olive J Dodge Elementary School (math 6% / reading 35%, grade F, #453 of 627 statewide, top 72%, 875 students, 67% FRL); 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.
• Market conditions: Rents flat; 142 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $124k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 8.36%
• Cash-on-cash: 7.37%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $193,452
• List price: $155,000
• Delta: -19.88%
• 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
2612 East Rd	0.00mi	3/2.0	1,384 (0%)	0mo	$124,000	$90	100
2629 Mountbrook Dr	0.05mi	3/2.0	1,390 (+0%)	3mo	$189,250	$136	95
5917 Couton Dr	0.56mi	3/2.0	1,395 (+1%)	10mo	$200,000	$143	64
6009 Oak Harbor Ct	0.70mi	3/2.0	1,427 (+3%)	0mo	$182,000	$128	62
2504 West Rd	0.52mi	4/2.0 (+1)	1,404 (+1%)	9mo	$223,900	$159	61
5032 Brookfield Dr N	0.68mi	3/1.5	1,336 (-4%)	1mo	$185,000	$138	59
2311 Pavan Dr	0.55mi	3/1.0	1,447 (+5%)	6mo	$149,000	$103	58
2563 Oak Harbor Dr	0.70mi	3/2.5	1,452 (+5%)	1mo	$152,000	$105	56
6016 Oak Harbor Ct	0.73mi	3/2.0	1,471 (+6%)	4mo	$120,000	$82	52
5404 Larchmont Dr	0.58mi	3/2.0	1,585 (+14%)	0mo	$222,000	$140	48
5405 Dogwood Ct	0.53mi	3/1.5	1,565 (+13%)	12mo	$150,000	$96	42
2500 Woodland Rd	0.67mi	4/2.0 (+1)	1,586 (+15%)	11mo	$227,000	$143	30

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 · 0.24% rent growth · sell at horizon

5-year hold

• IRR: -8.2%
• Equity multiple: 0.71×
• Total profit: $-12,686
• Equity at exit: $23,111

10-year hold

• IRR: -2.7%
• Equity multiple: 0.84×
• Total profit: $-6,846
• Equity at exit: $13,402

Cash invested: $43,400 (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 36693

• Home prices YoY: -28.1%
• Rents YoY: 0.2%
• Active inventory: 142
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,693 high
• Mortgage (P&I): −$813
• Tax est. 1.5%: −$194 /mo · $2,325/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $267

Break-even live

Break-even rent $1,356

Max offer price $155,000

Occupancy floor 79%

Sensitivity live

Price	-10% $374	-5% $320	+0% $267	+5% $213	+10% $160
Rent	-10% $133	-5% $200	+0% $267	+5% $334	+10% $400
Rate	-1.0pp $345	-0.5pp $306	base $267	+0.5pp $226	+1.0pp $186

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2754 Seaton Ct Mobile, AL	3.0	2.5	1640	$1,950	$1.19	14d	1	0.31mi
2316 Woodland Rd Mobile, AL	4.0	2.0	1560	$2,200	$1.41	14d	1	0.73mi
4861 Woodcliff Dr N Mobile, AL	3.0	2.0	1610	$1,300	$0.81	44d	1	1.01mi
1724 Rustic Wood Ct Mobile, AL	3.0	2.0	1607	$1,850	$1.15	44d	1	1.12mi
4273 Vega Dr Mobile, AL	3.0	1.5	1300	$1,600	$1.23	44d	1	1.17mi
5901 Ole Mill Rd Mobile, AL	3.0	2.0	1600	$1,900	$1.19	44d	1	1.19mi
6260 Sarasota Dr Mobile, AL	3.0	1.0	1090	$1,200	$1.10	44d	1	1.22mi
6405 Shady Ln Mobile, AL	3.0	2.0	1442	$1,300	$0.90	44d	1	1.24mi
4242 Marmora Dr Mobile, AL	3.0	1.5	1053	$1,500	$1.42	44d	1	1.25mi
713 Raines Dr Mobile, AL	4.0	2.0	1600	$1,858	$1.16	14d	1	1.28mi
4213 Malibar Dr Mobile, AL	3.0	1.0	1100	$1,458	$1.33	21d	1	1.34mi
4306 Via Alta Dr Mobile, AL	3.0	2.0	1640	$1,600	$0.98	44d	1	1.37mi
4950 Government Blvd Mobile, AL	1.0–4.0	1.0–2.5	1225	$1,321	$1.08	14d	7	1.38mi
6190 Girby Rd Mobile, AL	1.0–3.0	1.0–2.0	1034	$1,789	$1.73	14d	15	1.41mi
1651 Knollwood Dr Mobile, AL	1.0–2.0	1.0–2.0	835	$1,247	$1.49	14d	16	1.45mi
654 Ynestra Dr Mobile, AL	3.0	1.5	1134	$1,300	$1.15	14d	1	1.47mi
4077 Lancewood Dr S Mobile, AL	4.0	1.0	1283	$1,600	$1.25	44d	1	1.48mi

Listing history 2 events

1. 2026-05-09
   status Pending 459-char remark
2. 2026-05-06
   listed $155,000 Active 459-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,321
• − Mortgage interest: −$8,682
• − Property taxes: −$2,325
• − Insurance: −$775
• − Repairs & maintenance: −$1,626
• − Management: −$1,626
• − Depreciation: −$4,509
• Taxable income: $778
• Est. tax owed @ 24.0%: −$187
• After-tax cash flow: $3,013/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): 18,726
• Household income: $68,933
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 498.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 23% Hispanic / Latino 5% Asian 4% Two or more races 4%
• Common ancestry: Slovak 4% Italian 3% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 4% Tagalog/Filipino 2% Vietnamese 1%

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: ▼ -71.22%
• Current HPI: 182.6406
• Rent YoY: ▲ 0.24%
• 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

-20.0% since first listed

3 events — show timeline

• 2026-06-10 Sold (MLS) $124,000 GCMLS AL
• 2026-05-09 Pending — GCMLS AL
• 2026-05-06 Listed $155,000 GCMLS AL