603 W Patton Ave · Montgomery, AL 36105

$115,900

3 bd · 2.0 ba · 1,533 sqft · SingleFamily public records · 92 Days on market

Built 1954 0.30 ac lot

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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 +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• 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

PLEASE COME AND VIEW THIS INCREDIBLY WELL KEPT HOME. SITTING ON A CORNER LOT WITH AS BEAUTIFUL WROUGH IRON FENCE. EXTRA LARGE MASTER BED ROOM WITH LARGE BATH AND CLOSET. EXCELLENT COVERED PORCH FOR SITTING AND RELAXING. YOU WANT BELIEVE THE EXTRA PARTY ROOM IN THE BACK, LARGE FOR ENTERTAING OR JUST A GET AWAY MAN CAVE. ALL THE BEDROOMS ARE COMFORTABLE SIZES. THE APPRAISAL , HOME INSPECTION, TERMITE INSPECTION, AND REPAIRS ARE ALL COMPLETE. THE BUYER CANCELLED DUE TO NOT BEING ABLE TO CLOSE UNTIL JULY 14 BECAUSE OF PROBATE. THE HOME IS MOVE IN READY. THANK YOU FOR MAKING THE TRIP TO SEE THIS WONDERFUL HOME. GREAT PRICE FOR SIZE OF HOME.

Key facts

• Covered porch
• Extra party room
• Wrought iron fence

Tags

• CORNER LOT
• WROUGHT IRON FENCE
• COVERED PORCH
• EXTRA PARTY ROOM

Property features AI

Finance

• Other: Year built source: public records
• Financial info: No financial details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Detached carport; Driveway; 1 carport space
• Security: No specific security features provided
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available
• Home design: Brick construction; 1 story; Slab foundation
• Construction: Brick exterior
• Exterior features: City lot; Lot dimensions approximately 116 x 105; Full yard fencing; Storage structure

Interior

• Kitchen: Gas water heater
• Bedrooms: Single-story home
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air (gas)
• Interior features: Fireplace (one, outside); Covered patio; Porch; Patio; Enclosed patio/porch; Storage; Fully fenced yard
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $280 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 79 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 36% of the median local income ($41k/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 $801 of loan paydown is wiped out by about $3k 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 ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• 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 $105,469 (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 1954 — 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: 1.07% ✓
• Cap rate: 9.20%
• Cash-on-cash: 10.37%
• DSCR: 1.46
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $64,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3920 Oak St	0.33mi	3/2.0	1,625 (+6%)	4mo	$110,000	$68	71
620 Clover Hill Dr	0.06mi	3/1.0	1,376 (-10%)	10mo	$15,000	$11	68
901 National St	0.44mi	3/2.0	1,554 (+1%)	15mo	$102,000	$66	65
711 Iris Ln	0.24mi	3/1.5	1,316 (-14%)	13mo	$78,000	$59	52
626 W Edgemont Ave	0.75mi	3/1.0	1,641 (+7%)	0mo	$10,000	$6	49
124 National St	0.54mi	3/1.0	1,474 (-4%)	19mo	$37,850	$26	49
4016 Berwick Dr	0.42mi	4/1.5 (+1)	1,380 (-10%)	10mo	$51,000	$37	48
4037 Oak St	0.26mi	3/1.0	1,314 (-14%)	18mo	$35,000	$27	45
3945 S Court St	0.52mi	3/3.0	1,400 (-9%)	19mo	$105,000	$75	41
204 National St	0.52mi	4/2.5 (+1)	1,728 (+13%)	9mo	$140,000	$81	40
3472 Rosa L Parks Ave	0.61mi	4/1.0 (+1)	1,364 (-11%)	8mo	$34,000	$25	37
3458 Crescent Rd	0.68mi	4/2.0 (+1)	1,320 (-14%)	18mo	$54,900	$42	25

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-970
• Equity at exit: $17,281

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $21,960
• Equity at exit: $10,021

Cash invested: $32,452 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,235 high
• Mortgage (P&I): −$608
• Tax from tax record: −$39 /mo · $472/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $280

Break-even live

Break-even rent $880

Max offer price $115,900

Occupancy floor 72%

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: $28,975
• Closing costs: $3,477
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4148 Edgar D Nixon Ave Montgomery, AL	4.0	1.0	1208	$1,200	$0.99	44d	1	0.25mi
4037 Oak St Montgomery, AL	3.0	2.0	1314	$1,450	$1.10	44d	1	0.29mi
370 Collinwood Ave Montgomery, AL	3.0	1.0	1080	$1,000	$0.93	21d	1	0.32mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	44d	1	0.45mi
3577 Whiting Ave Montgomery, AL	3.0	1.0	1269	$1,150	$0.91	44d	1	0.51mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	21d	1	0.72mi
3608 Wilmington Rd Montgomery, AL	3.0	1.0	1160	$950	$0.82	44d	1	0.90mi
3220 Doris Cir Montgomery, AL	3.0	1.0	1139	$1,100	$0.97	44d	1	0.93mi
3515 Norman Bridge Rd Unit A Montgomery, AL	2.0	1.0	1150	$1,150	$1.00	44d	1	1.06mi
548 Winston Dr Montgomery, AL	2.0	2.5	1396	$1,000	$0.72	44d	1	1.09mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	21d	1	1.13mi
3338 S Hull St Montgomery, AL	2.0	2.0	1311	$1,150	$0.88	21d	1	1.14mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	14d	1	1.21mi
3737 Wesley Dr Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	44d	1	1.22mi
3701 Wesley Dr Unit 3737 Montgomery, AL	3.0	2.0	1050	$1,280	$1.22	44d	1	1.24mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	44d	1	1.24mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	21d	1	1.26mi
3386 Lexington Rd Unit B Montgomery, AL	2.0	1.0	1950	$900	$0.46	21d	1	1.26mi
3735 Bridlewood Dr Montgomery, AL	3.0	1.0	1386	$895	$0.65	44d	1	1.27mi
2655 W Edgemont Ave Montgomery, AL	2.0	2.0	1743	$875	$0.50	44d	1	1.28mi
105 Arlington Rd Unit B Montgomery, AL	2.0	1.0	1100	$925	$0.84	44d	1	1.29mi
3357 Lexington Rd Montgomery, AL	2.0	1.0	1200	$1,175	$0.98	14d	1	1.31mi
3708 Princeton Rd Montgomery, AL	2.0	2.0	1749	$900	$0.51	21d	1	1.32mi
3445 Le Bron Rd Montgomery, AL	4.0	1.0	1100	$1,050	$0.95	21d	1	1.33mi
3649 Princeton Rd Montgomery, AL	3.0	1.0	1266	$1,200	$0.95	21d	1	1.34mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	44d	1	1.36mi
3225 McElvy St Montgomery, AL	3.0	2.0	1258	$1,350	$1.07	14d	1	1.38mi
2654 Rutland St Montgomery, AL	3.0	1.0	1176	$1,075	$0.91	21d	1	1.41mi
3369 Montezuma Rd Montgomery, AL	3.0	1.0	1281	$1,150	$0.90	44d	1	1.45mi

Listing history 17 events

1. 2026-06-18
   days on market $115,900 Active 92 DOM
2. 2026-06-17
   days on market $115,900 Active 91 DOM
3. 2026-06-16
   days on market $115,900 Active 90 DOM
4. 2026-06-15
   days on market $115,900 Active 89 DOM
5. 2026-06-14
   days on market $115,900 Active 87 DOM
6. 2026-06-13
   days on market $115,900 Active 86 DOM
7. 2026-06-10
   days on market $115,900 Active 84 DOM
8. 2026-06-09
   days on market $115,900 Active 83 DOM
9. 2026-06-08
   days on market $115,900 Active 82 DOM
10. 2026-06-07
    days on market $115,900 Active 81 DOM
11. 2026-06-03
    days on market $115,900 Active 77 DOM
12. 2026-06-02
    days on market $115,900 Active 76 DOM
13. 2026-06-01
    days on market $115,900 Active 75 DOM
14. 2026-05-31
    days on market $115,900 Active 74 DOM
15. 2026-05-30
    days on market $115,900 Active 73 DOM
16. 2026-04-01
    historical Contingent
17. 2025-12-02
    listed $115,900 Active

ⓘ 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: $472 · $39/mo
• Projected year-2 tax: $475 · $40/mo
• Expected delta: +$3/yr ($0/mo · 0.6%)

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,822
• − Mortgage interest: −$6,492
• − Property taxes: −$472
• − Insurance: −$580
• − Repairs & maintenance: −$1,186
• − Management: −$1,186
• − Depreciation: −$3,372
• Taxable income: $1,535
• Est. tax owed @ 24.0%: −$368
• After-tax cash flow: $2,996/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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: Predominantly Black (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• Rent YoY: —
• 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

2 events — show timeline

• 2026-04-01 Contingent — MAAR
• 2025-12-02 Listed $115,900 MAAR

Property tax history

+4.2%/yr

Latest (2025): $472 · +7.5% YoY. Source: county tax records.