1561 S Court St · Montgomery, AL 36104

$129,900

3 bd · 1.0 ba · 1,923 sqft · MultiFamily public records · 330 Days on market

Built 1935 7,840 sqft lot $68/sqft · 51% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

FULLY OCCUPIED DUPLEX!!!! This is a great investment property. Property is professionally managed by Adair Realty. Side A is a 1 bed and 1 bath. There is a breakfast room and kitchen with granite counter. There is a fireplace in the bedroom and living room. Side B has 2 bedrooms and 1 bath separate living and dining room with built ins and fireplaces, also a den area, kitchen has granite counter, stainless steel appliance that remain.

Key facts

• Fireplace in bedroom
• Granite counter
• Built ins

Tags

• GRANITE COUNTER
• FIREPLACE IN BEDROOM
• FIREPLACE IN LIVING ROOM
• BUILT INS
• DEN AREA
• STAINLESS STEEL APPLIANCE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $764 ($9k/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 13.3% 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: 53 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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).
• At $2,023/mo this rent would consume 72% of the median local household income ($34k/yr) (locally 641% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 330 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 330 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 1935 — 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 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: 1.56% ✓
• Cap rate: 13.35%
• Cash-on-cash: 25.19%
• DSCR: 2.12
• GRM: 5.4

CMA / ARV

• ARV (median comp): $265,000
• List price: $129,900
• Delta: -50.98%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.7%
• Equity multiple: 1.76×
• Total profit: $27,575
• Equity at exit: $19,369

10-year hold

• IRR: 27.1%
• Equity multiple: 3.38×
• Total profit: $86,600
• Equity at exit: $11,231

Cash invested: $36,372 (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 36104

• Active inventory: 53
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,023 high
• Mortgage (P&I): −$681
• Tax from tax record: −$99 /mo · $1,191/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $764

Break-even live

Break-even rent $1,056

Max offer price $129,900

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
1× unit	1	1	$983
1× unit	2	1	$1,039
Total (2 units)			$2,023

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 S Court St Montgomery, AL	2.0	2.0	1650	$1,495	$0.91	13d	1	0.18mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	43d	1	0.20mi
22 W Cromwell St Montgomery, AL	4.0	2.0	1645	$1,350	$0.82	20d	1	0.35mi
1020 S Lawrence St Montgomery, AL	2.0	1.0	1711	$2,000	$1.17	13d	1	0.35mi
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	43d	1	0.38mi
1919 Norman Bridge Ct Unit 1043838P Montgomery, AL	4.0	3.0	1539	$4,108	$2.67	43d	1	0.54mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	0.59mi
428 Thorn Pl Montgomery, AL	2.0	1.0	1549	$1,450	$0.94	43d	1	0.62mi
519 Thorn Pl Montgomery, AL	2.0	1.0	1632	$650	$0.40	20d	1	0.64mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	20d	1	0.80mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	43d	1	0.87mi
3338 S Hull St Montgomery, AL	2.0	2.0	1311	$1,150	$0.88	20d	1	0.88mi
3256 Montezuma Rd Montgomery, AL	3.0	2.0	1515	$1,450	$0.96	43d	1	1.01mi
3386 Lexington Rd Unit B Montgomery, AL	2.0	1.0	1950	$900	$0.46	20d	1	1.05mi
2727 Boultier St Montgomery, AL	1.0–3.0	1.0–2.0	1070	$1,582	$1.48	13d	3	1.10mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	20d	1	1.15mi
3369 Montezuma Rd Montgomery, AL	3.0	1.0	1281	$1,150	$0.90	43d	1	1.17mi
1355 Magnolia Curv Montgomery, AL	3.0	3.0	2260	$1,800	$0.80	13d	1	1.26mi
3356 Audubon Rd Montgomery, AL	2.0	1.5	1340	$950	$0.71	43d	1	1.29mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	20d	1	1.30mi
2043 Hazel Hedge Ln Montgomery, AL	4.0	3.0	2001	$1,650	$0.82	13d	1	1.32mi
3577 Whiting Ave Montgomery, AL	3.0	1.0	1269	$1,150	$0.91	43d	1	1.36mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	43d	1	1.37mi
1425 Blairwood Montgomery, AL	3.0	2.0	1700	$1,850	$1.09	13d	1	1.46mi

Listing history 12 events

1. 2026-05-31
   days on market $129,900 Active 330 DOM
2. 2026-05-30
   days on market $129,900 Active 329 DOM
3. 2026-01-02
   status Active 438-char remark

   Show marketing remark (438 chars)

   FULLY OCCUPIED DUPLEX!!!! This is a great investment property. Property is professionally managed by Adair Realty. Side A is a 1 bed and 1 bath. There is a breakfast room and kitchen with granite counter. There is a fireplace in the bedroom and living room. Side B has 2 bedrooms and 1 bath separate living and dining room with built ins and fireplaces, also a den area, kitchen has granite counter, stainless steel appliance that remain.

4. 2025-07-03
   listed $129,900 Active 438-char remark

   Show marketing remark (438 chars)

   FULLY OCCUPIED DUPLEX!!!! This is a great investment property. Property is professionally managed by Adair Realty. Side A is a 1 bed and 1 bath. There is a breakfast room and kitchen with granite counter. There is a fireplace in the bedroom and living room. Side B has 2 bedrooms and 1 bath separate living and dining room with built ins and fireplaces, also a den area, kitchen has granite counter, stainless steel appliance that remain.

5. 2022-11-14
   soldstatus $118,000
6. 2022-11-04
   soldstatus $118,000 407-char remark

   Show marketing remark (407 chars)

   This is a great investment property, you could live in one side and rent the other. Side A is a 1 bed and 1 bath. There is a breakfast room and kitchen with granite counter. There is a fireplace in the bedroom and living room. Side B has 2 bedrooms and 1 bath separate living and dining room with built ins and fireplaces, also a den area, kitchen has granite counter, stainless steel appliance that remain.

7. 2022-10-08
   listed $120,000 407-char remark

   Show marketing remark (407 chars)

   This is a great investment property, you could live in one side and rent the other. Side A is a 1 bed and 1 bath. There is a breakfast room and kitchen with granite counter. There is a fireplace in the bedroom and living room. Side B has 2 bedrooms and 1 bath separate living and dining room with built ins and fireplaces, also a den area, kitchen has granite counter, stainless steel appliance that remain.

8. 2022-07-04
   price $725
9. 2018-02-09
   soldstatus $19,500
10. 2018-02-08
    soldstatus $77,000
11. 2017-10-02
    listed $79,000
12. 2002-04-16
    listed $78,500

ⓘ 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: $1,191 · $99/mo
• Projected year-2 tax: $1,191 · $99/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 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°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: $24,276
• − Mortgage interest: −$7,276
• − Property taxes: −$1,191
• − Insurance: −$650
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$3,779
• Taxable income: $7,496
• Est. tax owed @ 24.0%: −$1,799
• After-tax cash flow: $7,364/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): 10,535
• Household income: $33,823
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 641.0

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 (72%)
• Race & ethnicity: Black 72% White 20% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Swedish 2% Russian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -101.13%
• Current HPI: 27.2384
• 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

+65.5% since first listed

10 events — show timeline

• 2026-01-02 Relisted — MAAR
• 2025-07-03 Listed $129,900 MAAR
• 2022-11-14 Sold (Public Records) $118,000 Public Records
• 2022-11-04 Sold (MLS) $118,000 MAAR
• 2022-10-08 Listed $120,000 MAAR
• 2022-07-04 Price Changed $725 RENT.
• 2018-02-09 Sold (Public Records) $19,500 Public Records
• 2018-02-08 Sold (MLS) $77,000 MAAR
• 2017-10-02 Listed $79,000 MAAR
• 2002-04-16 Listed $78,500 MAAR

Property tax history

+10.2%/yr

Latest (2025): $1,191 · +0.0% YoY. Source: county tax records.