7370 10th St · Mobile, AL 36608

$39,000

3 bd · 1.0 ba · 1,618 sqft · SingleFamily public records · 11 Days on market

Built 1987 0.48 ac lot

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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
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this spacious property located just minutes from the University of South Alabama. Offering more square footage than several recently sold nearby homes, this property is ready for your vision and renovation plans. Whether you're looking for a fix-and-flip, rental investment, or value-add project, the potential is there. Sold As-Is. Buyer to verify all information deemed important. Convenient location close to shopping, dining, schools, and major roadways. Don't miss your chance to unlock the value in this property.

Key facts

• Value-add project
• Fix-and-flip
• Rental investment

Tags

• SPACIOUS PROPERTY
• FIX-AND-FLIP
• RENTAL INVESTMENT
• VALUE-ADD PROJECT
• CONVENIENT LOCATION

Property features AI

Finance

• HOA & community: No association fees

Exterior

• Parking: Unassigned parking; One carport space
• Security: No security features listed
• Utilities: Public water; Sewer connected; Internet service available
• Home design: Existing construction; Single-story living (rooms listed at level 1); Siding (other)
• Construction: Slab foundation
• Exterior features: No deck, patio, garden/patio, or pool; Not waterfront; Lot view: none

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Master bedroom on main level; Two additional bedrooms on main level; Split bedroom plan
• Flooring: Concrete flooring throughout
• Bathrooms: One full bathroom; Master bathroom on main level
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Concrete floors; Ceilings: Other (see remarks); No interior special features listed
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $844 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Cap rate 32.3% 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: Whitley Elementary School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 267 students, 91% FRL); Denton Magnet School of Technology (math 26% / reading 69%, grade C-, #32 of 257 statewide, top 12%, 314 students, 94% FRL); Baker High School (math 25% / reading 28%, grade F, #107 of 305 statewide, top 36%, 2,491 students, 42% FRL).
• Market conditions: Rents rising fast (+6.2%/yr); 341 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k 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 + 6.2% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% 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 $39,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 3.49% ✓
• Cap rate: 32.27%
• Cash-on-cash: 92.78%
• DSCR: 5.13
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $121,350
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Bishop Phillips Ave	0.24mi	4/2.0 (+1)	1,535 (-5%)	11mo	$49,000	$32	62
12 Stonebridge Ct	0.75mi	2/2.0 (-1)	1,764 (+9%)	2mo	$221,000	$125	39
7623 Old Shell Rd	0.57mi	4/2.0 (+1)	1,410 (-13%)	7mo	$105,121	$75	37

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 · 6.15% rent growth · sell at horizon

5-year hold

• IRR: 97.0%
• Equity multiple: 5.75×
• Total profit: $51,911
• Equity at exit: $5,815

10-year hold

• IRR: —
• Equity multiple: 13.27×
• Total profit: $133,949
• Equity at exit: $3,372

Cash invested: $10,920 (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 36608

• Rents YoY: 6.2%
• Active inventory: 341
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,363 high
• Mortgage (P&I): −$205
• Tax from tax record: −$12 /mo · $140/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $844

Break-even live

Break-even rent $294

Max offer price $39,000

Occupancy floor 33%

Sensitivity live

Price	-10% $866	-5% $855	+0% $844	+5% $833	+10% $822
Rent	-10% $737	-5% $790	+0% $844	+5% $898	+10% $952
Rate	-1.0pp $864	-0.5pp $854	base $844	+0.5pp $834	+1.0pp $824

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
176 2nd Ave Mobile, AL	3.0	1.0	1056	$895	$0.85	22d	1	0.43mi
8050 Tanner Williams Rd Mobile, AL	2.0–3.0	2.0–2.5	1028	$1,345	$1.31	22d	3	0.98mi
7601 Airport Blvd Mobile, AL	2.0–4.0	2.0	1082	$1,188	$1.10	15d	5	1.06mi
101 Foreman Rd Mobile, AL	1.0–3.0	1.0–2.0	835	$1,279	$1.53	45d	9	1.23mi
6701 Dickens Ferry Rd #30 Mobile, AL	3.0	2.5	1342	$1,395	$1.04	22d	1	1.30mi
6807 Victor Rd Mobile, AL	3.0	1.0	1100	$1,350	$1.23	45d	1	1.43mi
6474B Cedar Bend Ct Mobile, AL	2.0	2.0	1444	$1,600	$1.11	45d	1	1.48mi

Listing history 8 events

1. 2026-06-21
   days on market $39,000 Active 11 DOM
2. 2026-06-18
   days on market $39,000 Active 8 DOM
3. 2026-06-17
   days on market $39,000 Active 7 DOM
4. 2026-06-16
   days on market $39,000 Active 6 DOM
5. 2026-06-15
   days on market $39,000 Active 5 DOM
6. 2026-06-14
   days on market $39,000 Active 3 DOM
7. 2026-06-13
   remarks 543-char remark
8. 2026-06-13
   listed $39,000 Active 2 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: $140 · $12/mo
• Projected year-2 tax: $160 · $13/mo
• Expected delta: +$20/yr (+$2/mo · 14.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,356
• − Mortgage interest: −$2,185
• − Property taxes: −$140
• − Insurance: −$195
• − Repairs & maintenance: −$1,308
• − Management: −$1,308
• − Depreciation: −$1,135
• Taxable income: $10,085
• Est. tax owed @ 24.0%: −$2,420
• After-tax cash flow: $7,712/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
• County: Mobile County · 246,577 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 38,890
• Household income: $61,146
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1823.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Black 35% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 1%

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: ▼ -224.52%
• Current HPI: 198.9469
• Rent YoY: ▲ 6.15%
• Metro: Mobile, 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

1 event — show timeline

• 2026-06-10 Listed $39,000 Greater Alabama MLS

Property tax history

+1.2%/yr

Latest (2017): $140 · -2.7% YoY. Source: county tax records.