806 Leicester Dr · Montgomery, AL 36116

$78,900

3 bd · 3.0 ba · 2,115 sqft · SingleFamily public records · 3 Days on market

Built 1968 10,454 sqft lot Est $135k · 42% under ↓ 7% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this nice beautiful extremely large roomy home located in the heart of Montgomery. .. .This home feature 4 bedrooms and 2 and a half baths. Don't miss this one!

Key facts

• Natural light
• Large yard
• Outdoor space

Tags

• CORNER LOT
• OUTDOOR SPACE
• FUNCTIONAL FLOOR PLAN
• NATURAL LIGHT
• LARGE YARD
• MATURE LANDSCAPING

Property features AI

Exterior

• Parking: Driveway; Parking pad (2 pads)
• Utilities: Cable available; Electricity available; Public water; Public sewer
• Home design: Single-story home
• Construction: Brick and vinyl siding exterior; Year built per public records
• Exterior features: City lot; Mature trees; Lot dimensions approximately 75 x 140 (irregular)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Bedrooms located on the first floor
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: Window treatments
• Laundry & utility: First-floor laundry; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Cap rate 16.1% 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: Rents rising fast (+5.7%/yr); 293 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 33% of the median local income ($55k/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 $545 of loan paydown is wiped out by about $2k 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 + 5.7% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 26y 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.
• Current owner paid $51k; list at $79k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $78,900

Questions for the listing agent

1. Built in 1968 — 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. 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?
4. 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.
5. 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.
6. 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: 1.93% ✓
• Cap rate: 16.09%
• Cash-on-cash: 35.00%
• DSCR: 2.56
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $135,360
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1422 Flamingo Ln	0.59mi	4/2.5 (+1)	2,110 (-0%)	10mo	$149,900	$71	57
4312 Amherst Dr	0.51mi	4/2.0 (+1)	2,104 (-0%)	13mo	$78,000	$37	56
540 Seibles Rd	0.14mi	3/2.0	1,833 (-13%)	20mo	$165,000	$90	50
1346 Biscayne Dr	0.65mi	3/2.0	2,336 (+10%)	1mo	$29,500	$13	47
4309 Coventry Rd	0.62mi	3/2.0	1,948 (-8%)	13mo	$125,000	$64	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 · 5.65% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 2.47×
• Total profit: $32,442
• Equity at exit: $11,764

10-year hold

• IRR: 41.9%
• Equity multiple: 5.49×
• Total profit: $99,242
• Equity at exit: $6,822

Cash invested: $22,092 (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 36116

• Home prices YoY: -9.7%
• Rents YoY: 5.7%
• Active inventory: 293
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$414
• Tax from tax record: −$110 /mo · $1,321/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $644

Break-even live

Break-even rent $705

Max offer price $78,900

Occupancy floor 53%

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Queensbury Dr Montgomery, AL	4.0	2.0	1783	$1,500	$0.84	43d	1	0.33mi
1355 Buckingham Dr Montgomery, AL	4.0	2.0	1620	$1,650	$1.02	13d	1	0.81mi
1434 E Audubon Rd Montgomery, AL	4.0	2.0	2237	$1,475	$0.66	43d	1	1.13mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	21d	1	1.21mi
1067 Roslyn Dr Montgomery, AL	4.0	2.0	1760	$1,125	$0.64	21d	1	1.25mi
3708 Princeton Rd Montgomery, AL	2.0	2.0	1749	$900	$0.51	21d	1	1.25mi

Listing history 4 events

1. 2026-06-18
   days on market $78,900 Active 3 DOM
2. 2026-06-17
   days on market $78,900 Active 2 DOM
3. 2026-06-15
   remarks 699-char remark
4. 2026-06-15
   listed $78,900 Active 1 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: $1,321 · $110/mo
• Projected year-2 tax: $1,321 · $110/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 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: $18,244
• − Mortgage interest: −$4,420
• − Property taxes: −$1,321
• − Insurance: −$394
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − Depreciation: −$2,295
• Taxable income: $6,894
• Est. tax owed @ 24.0%: −$1,655
• After-tax cash flow: $6,077/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): 45,250
• Household income: $55,160
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 2786.0

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 (80%)
• Race & ethnicity: Black 80% White 12% Two or more races 4% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Korean 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: ▼ -16.31%
• Current HPI: 151.8598
• Rent YoY: ▲ 5.65%
• 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

-7.1% since first listed

16 events — show timeline

• 2026-06-15 Listed $78,900 MAAR
• 2019-02-22 Sold (MLS) $50,800 Greater Alabama MLS
• 2019-02-15 Sold (Public Records) $57,000 Public Records
• 2018-09-12 Listed $63,840 Greater Alabama MLS
• 2018-05-11 Listed $60,800 WBR
• 2018-05-11 Listed $60,800 MAAR
• 2009-08-11 Sold (MLS) $90,000 MAAR
• 2009-01-30 Listed $92,500 MAAR
• 2009-01-16 Sold (MLS) $47,500 MAAR
• 2008-06-23 Listed $49,900 MAAR
• 2007-10-10 Sold (Public Records) $105,000 Public Records
• 2007-10-02 Listed $114,900 MAAR
• 2007-10-02 Sold (MLS) $105,000 MAAR
• 2007-06-17 Listed $111,900 MAAR
• 2001-04-02 Sold (MLS) $84,000 MAAR
• 2000-11-09 Listed $84,900 MAAR

Property tax history

+14.5%/yr

Latest (2025): $1,321 · -7.0% YoY. Source: county tax records.