352 S Ann Street St · Mobile, AL 36604

$185,000

3 bd · 2.0 ba · 2,128 sqft · SingleFamily public records · 144 Days on market

Built 1999 Fair condition 10,454 sqft lot $87/sqft · 32% below area Est $271k · 32% under

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to remodel and customize a beautiful midtown home! This home has plenty of room to create equity and have exactly what you want. With beautiful curb appeal and lots of potential. Located just across the street from Crawford Park, which offers a dog park, running trails, zip lines and more. The home does need work, as it has deferred maintenance and a plumbing leak caused the back bonus room to flood. The house has all the features you would expect from a historic home with great trim, high ceilings and more. The primary bedroom is easily the size of two regular sized bedrooms, with a great view overlooking Ann Street and the surrounding community. Buyer to verify all information during due diligence.

Key facts

• Inviting front porch
• Extra-deep lot
• Curved foyer wall

Tags

• EXTRA-DEEP LOT
• INVITING FRONT PORCH
• GLEAMING HARDWOOD FLOORS
• UNIQUE ARCHITECTURAL DETAILS
• CURVED FOYER WALL
• GRANITE COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 5.1% 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: Leinkauf Elementary School (math 8% / reading 26%, grade F, #499 of 627 statewide, top 80%, 538 students, 91% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% FRL); Murphy High School (math 10% / reading 19%, grade F, #220 of 305 statewide, top 77%, 1,254 students, 66% FRL) — zoned schools average 84% FRL vs 67% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 27% district-wide (-13 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.8%/yr); 125 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 43% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.8% rent growth), your $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.85%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (median comp): $270,828
• List price: $185,000
• Delta: -31.69%
• 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
304 S Georgia Ave	0.12mi	3/2.0	2,012 (-6%)	6mo	$390,000	$194	80
78 Etheridge St	0.47mi	3/2.5	2,176 (+2%)	2mo	$435,000	$200	70
34 Lafayette St S	0.56mi	3/2.5	2,190 (+3%)	3mo	$530,000	$242	64
12 Mcphillips Ave	0.66mi	4/3.0 (+1)	2,129 (0%)	3mo	$510,000	$240	58
201 Catherine St S	0.50mi	3/2.0	1,922 (-10%)	6mo	$405,000	$211	56
1123 Palmetto St	0.48mi	3/2.0	1,854 (-13%)	8mo	$358,000	$193	50
24 McPhillips Ave	0.61mi	4/2.0 (+1)	2,320 (+9%)	6mo	$244,750	$105	46
123 Macy Pl	0.61mi	3/2.5	1,861 (-12%)	3mo	$375,000	$202	46
1013 Savannah St	0.64mi	3/2.0	1,814 (-15%)	1mo	$384,900	$212	45
1013 Savannah St	0.64mi	3/2.0	1,814 (-15%)	1mo	$384,900	$212	45
913 Texas St	0.72mi	4/2.0 (+1)	2,312 (+9%)	4mo	$60,000	$26	44
551 Tisdale St	0.73mi	3/2.0	1,897 (-11%)	6mo	$95,000	$50	42

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $12,722
• Equity at exit: $27,584

10-year hold

• IRR: 16.3%
• Equity multiple: 2.38×
• Total profit: $71,464
• Equity at exit: $15,995

Cash invested: $51,800 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 21 active · 21 under contract
• Months of supply: 4.1 mo (25%/mo absorbed)
• Median asking: $330,000 ($166/sqft)
• Median days on market: 90 d
• This list price: 19% of active listings are priced below it
• ARV vs active asking: -23.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36604

• Rents YoY: 3.8%
• Active inventory: 125
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,365 high
• Mortgage (P&I): −$970
• Tax from tax record: −$180 /mo · $2,163/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $641

Break-even live

Break-even rent $1,554

Max offer price $185,000

Occupancy floor 68%

Sensitivity live

Price	-10% $746	-5% $693	+0% $641	+5% $589	+10% $536
Rent	-10% $454	-5% $548	+0% $641	+5% $734	+10% $828
Rate	-1.0pp $734	-0.5pp $688	base $641	+0.5pp $593	+1.0pp $544

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: $46,250
• Closing costs: $5,550
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	62d	1	0.44mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	62d	1	0.55mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	93d	1	0.67mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	62d	1	0.75mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	62d	1	0.78mi
814 S Broad St Unit 1043690P Mobile, AL	3.0	2.0	1991	$3,562	$1.79	62d	1	0.84mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	93d	1	0.85mi
1754 Hunter Ave Unit 1043550P Mobile, AL	4.0	2.0	2723	$3,903	$1.43	70d	1	0.86mi
107 Michael Donald Ave Unit 1043461P Mobile, AL	4.0	3.5	2195	$3,962	$1.81	62d	1	0.92mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	93d	1	1.01mi
1321 SpringHill Ave Unit B Mobile, AL	2.0	1.0	2006	$950	$0.47	93d	1	1.06mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	93d	1	1.28mi
129 Shell Road Pl Unit 1043713P Mobile, AL	4.0	2.0	1496	$3,389	$2.27	70d	1	1.31mi
500 Palmetto St Mobile, AL	3.0	2.0	1786	$1,450	$0.81	93d	1	1.35mi

Listing history 50 events

1. 2026-08-08
   days on market $185,000 Active 144 DOM
2. 2026-08-07
   days on market $185,000 Active 143 DOM
3. 2026-08-06
   days on market $185,000 Active 142 DOM
4. 2026-08-05
   days on market $185,000 Active 141 DOM
5. 2026-08-04
   days on market $185,000 Active 140 DOM
6. 2026-08-03
   days on market $185,000 Active 139 DOM
7. 2026-07-31
   days on market $185,000 Active 136 DOM
8. 2026-07-30
   days on market $185,000 Active 135 DOM
9. 2026-07-29
   days on market $185,000 Active 134 DOM
10. 2026-07-27
    days on market $185,000 Active 132 DOM
11. 2026-07-25
    days on market $185,000 Active 130 DOM
12. 2026-07-24
    days on market $185,000 Active 129 DOM
13. 2026-07-23
    days on market $185,000 Active 128 DOM
14. 2026-07-22
    days on market $185,000 Active 127 DOM
15. 2026-07-21
    days on market $185,000 Active 126 DOM
16. 2026-07-18
    days on market $185,000 Active 123 DOM
17. 2026-07-16
    days on market $185,000 Active 121 DOM
18. 2026-07-16
    days on market $185,000 Active 120 DOM
19. 2026-07-14
    days on market $185,000 Active 119 DOM
20. 2026-07-13
    days on market $185,000 Active 118 DOM
21. 2026-07-12
    days on market $185,000 Active 117 DOM
22. 2026-07-11
    days on market $185,000 Active 116 DOM
23. 2026-07-10
    days on market $185,000 Active 115 DOM
24. 2026-07-09
    days on market $185,000 Active 114 DOM
25. 2026-07-08
    days on market $185,000 Active 113 DOM
26. 2026-07-07
    days on market $185,000 Active 112 DOM
27. 2026-07-06
    days on market $185,000 Active 111 DOM
28. 2026-07-05
    days on market $185,000 Active 110 DOM
29. 2026-07-04
    days on market $185,000 Active 109 DOM
30. 2026-07-03
    days on market $185,000 Active 108 DOM
31. 2026-07-02
    days on market $185,000 Active 107 DOM
32. 2026-07-01
    days on market $185,000 Active 106 DOM
33. 2026-06-30
    days on market $185,000 Active 105 DOM
34. 2026-06-29
    days on market $185,000 Active 104 DOM
35. 2026-06-28
    days on market $185,000 Active 103 DOM
36. 2026-06-28
    days on market $185,000 Active 102 DOM
37. 2026-06-27
    days on market $185,000 Active 101 DOM
38. 2026-06-25
    days on market $185,000 Active 99 DOM
39. 2026-06-23
    days on market $185,000 Active 97 DOM
40. 2026-06-21
    days on market $185,000 Active 96 DOM
41. 2026-06-18
    days on market $185,000 Active 93 DOM
42. 2026-06-17
    days on market $185,000 Active 92 DOM
43. 2026-06-16
    days on market $185,000 Active 91 DOM
44. 2026-06-15
    days on market $185,000 Active 90 DOM
45. 2026-06-14
    days on market $185,000 Active 88 DOM
46. 2026-06-13
    days on market $185,000 Active 87 DOM
47. 2026-06-10
    days on market $185,000 Active 85 DOM
48. 2026-06-09
    days on market $185,000 Active 84 DOM
49. 2026-06-08
    days on market $185,000 Active 83 DOM
50. 2026-06-07
    days on market $185,000 Active 82 DOM

ⓘ 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: $2,163 · $180/mo
• Projected year-2 tax: $2,163 · $180/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,382
• − Mortgage interest: −$10,363
• − Property taxes: −$2,163
• − Insurance: −$925
• − Repairs & maintenance: −$2,271
• − Management: −$2,271
• − Depreciation: −$5,382
• Taxable income: $5,008
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $6,490/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $53,200–$95,760 screening

This midtown home requires moderate renovations to update its kitchen, bathrooms, and exterior. It has a good foundation and structure, but some repairs and maintenance are needed to improve its condition and value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Hvac (hvac) — No HVAC unit visible in photos
• Major Windows (windows) — No windows visible in photos
• Major Electrical (electrical) — No electrical panel visible in photos
• Major Plumbing (plumbing) — No plumbing fixtures visible in photos
• Major Exterior (exterior) — No exterior walls or siding visible in photos

Repairs flagged

• Major Exposed plumbing and electrical components in kitchen — Safety hazard
• Major Old-style fixtures and dated tile in bathrooms — Aesthetic and functionality issues
• Moderate Weathered siding and some discoloration — Aesthetic appeal
• Major Exposed HVAC unit — Safety and efficiency concerns

Value-add opportunities

• Resale New kitchen appliances and fixtures — Modernizes the kitchen and improves functionality ↑
• Resale New bathroom fixtures and tile — Enhances the aesthetic appeal and functionality ↑
• Both Painting and minor repairs to exterior siding — Improves curb appeal and enhances value ↑
• Both New HVAC system — Improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 14/100

Zoned Schools

Elementary Leinkauf Elementary School F AL #499/627 Nat'l #35,191/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Murphy High School F AL #220/305 Nat'l #15,534/17,239

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

B Composite livability gradescore 75/100

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 · 415,303 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 8,836
• Household income: $66,357
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 51% Black 42% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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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: ▼ -143.27%
• Current HPI: 205.7241
• Rent YoY: ▲ 3.78%
• Metro: Mobile, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

+19.5% since first listed

8 events — show timeline

• 2026-05-11 Price Changed $185,000 GCMLS AL
• 2026-05-11 Price Changed $185,000 BCAR
• 2026-04-01 Price Changed $205,000 GCMLS AL
• 2026-04-01 Price Changed $200,000 GCMLS AL
• 2026-03-17 Listed $205,000 GCMLS AL
• 2026-03-16 Listed $205,000 BCAR
• 2021-06-16 Sold (Public Records) $200,000 Public Records
• 2005-03-07 Sold (Public Records) $154,800 Public Records

Property tax history

+10.3%/yr

Latest (2025): $2,163 · +2.0% YoY. Source: county tax records.