1811 Butler St · Mobile, AL 36617

$35,000

None bd · 1.0 ba · 924 sqft · MultiFamily public records · 90 Days on market

Built 1965 9,212 sqft 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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Investor deal. Duplex requiring a full interior renovation. A new roof has recently been installed, providing a major improvement already completed. Property consists of two separate units with individual entrances and offers solid potential following renovation. Ideal for investors or contractors seeking a value-add project. Whether you're looking to fix and flip or hold long term, with the right vision this could be a great addition to your portfolio

Key facts

• Individual entrances
• Two separate units
• New roof

Tags

• FULL INTERIOR RENOVATION
• NEW ROOF
• TWO SEPARATE UNITS
• INDIVIDUAL ENTRANCES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $742/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 57.1% 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: Florence Howard Elementary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 488 students, 94% FRL); Cf Vigor High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 547 students, 86% FRL) — zoned schools average 90% FRL vs 67% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 27% district-wide (-20 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 40 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($242 loan paydown + $2k appreciation (4.8% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (4.8% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $35k implies a 338% gain — meaningful room to come down on a strong offer.

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 $32,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 6.15% ✓
• Cap rate: 57.15%
• Cash-on-cash: 181.63%
• DSCR: 9.08
• GRM: 1.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.42×
• Total profit: $102,110
• Equity at exit: $19,361

10-year hold

• IRR: —
• Equity multiple: 24.19×
• Total profit: $227,257
• Equity at exit: $33,031

Cash invested: $9,800 (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 36617

• Home prices YoY: 3.9%
• Active inventory: 40
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,151 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$18 /mo · $215/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $1,483

Break-even live

Break-even rent $273

Max offer price $35,000

Occupancy floor 26%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,152
Total (2 units)			$2,151

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2966 Northwest Dr Mobile, AL	3.0	1.0	792	$895	$1.13	21d	1	0.91mi
3764 Autumndale Dr Mobile, AL	3.0	1.0	1050	$1,350	$1.29	13d	1	0.99mi
708 Bond St Mobile, AL	3.0	1.0	1100	$1,350	$1.23	21d	1	1.08mi
100 Dairy Rd Mobile, AL	2.0–3.0	2.0	999	$975	$0.98	13d	1	1.18mi
2207 Wolf Ridge Rd Unit B Mobile, AL	2.0	1.0	1000	$1,100	$1.10	43d	1	1.41mi
2211 Wolf Ridge Rd Unit B Mobile, AL	3.0	1.5	1050	$1,200	$1.14	43d	1	1.43mi
3427 Stovall St Mobile, AL	3.0	1.0	1025	$850	$0.83	21d	1	1.45mi

Listing history 3 events

1. 2026-03-23
   status Pending
2. 2025-12-23
   listed $35,000 Active
3. 2013-07-22
   soldstatus $8,000

ⓘ 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: $215 · $18/mo
• Projected year-2 tax: $215 · $18/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 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: $25,812
• − Mortgage interest: −$1,961
• − Property taxes: −$215
• − Insurance: −$175
• − Repairs & maintenance: −$2,065
• − Management: −$2,065
• − Depreciation: −$1,018
• Taxable income: $18,314
• Est. tax owed @ 24.0%: −$4,395
• After-tax cash flow: $13,404/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
• City population: 205,729
• Population (ZIP): 11,952

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 Black (97%)
• Race & ethnicity: Black 97% White 2%
• Foreign-born: 0%

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: ▲ 4.78%
• Current HPI: 128.8377
• 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

+337.5% since first listed

3 events — show timeline

• 2026-03-23 Pending — GCMLS AL
• 2025-12-23 Listed $35,000 GCMLS AL
• 2013-07-22 Sold (Public Records) $8,000 Public Records

Property tax history

+11.3%/yr

Latest (2025): $215 · +0.0% YoY. Source: county tax records.