740 Coliseum Blvd · Montgomery, AL 36109

$975,000

None bd · 1.0 ba · 5,250 sqft · MultiFamily public records · 75 Days on market

Built 1986

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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 +29.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• 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 (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Presenting a rare opportunity to acquire a fully renovated, high-performing 12 unit apartment complex in the heart of Montgomery. This turnkey asset offers immediate cash flow, long-term stability, and minimal deferred maintenance—making it an ideal addition to any investment portfolio. This property has undergone comprehensive renovations across all units, ensuring modern appeal and operational efficiency. Every unit has been fully updated with contemporary finishes, creating a strong competitive position in the local rental market and supporting premium rents and tenant retention. Major capital improvements have already been completed, including: new plumbing systems, updated electrical throughout, brand new HVAC systems. The asset is currently supported by established local property management, offering seamless day-to-day operations and a smooth transition for new ownership. Investors can step into a professionally managed, stabilized property from day one. Located in a growing rental market, the property benefits from strong demand drivers, including proximity to major employers such as Maxwell Air Force Base, Alabama State University, and Baptist Health, as well as convenient access to retail, dining, and key transportation corridors. This is a rare chance to acquire a low-maintenance, income-producing property in one of Central Alabama’s most stable and accessible markets.

Key facts

• Built 1986
• Listed 74 days

🏷️ Possibly a rental listed for sale. The $975,000 price doesn't fit this home's estimated sale value (~$3,595,732) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 12 × 2-bed/1-bath units multifamily listed at $975k.

Deal economics

• At list price, monthly cash flow is $3k ($41k/yr) — positive. Per door: $288/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $975k).
• Recommended offer: $916k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+2.6%/yr); 209 active listings in the ZIP; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $12,015/mo this rent would consume 244% of the median local household income ($59k/yr) (locally 1039% 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 $7k of loan paydown is wiped out by about $29k 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 + 2.6% rent growth), your $273k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($916k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 $660k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $916,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.23% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.19%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

• ARV (median comp): $3,595,732
• List price: $975,000
• Delta: -72.88%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.21×
• Total profit: $57,609
• Equity at exit: $145,376

10-year hold

• IRR: 14.6%
• Equity multiple: 2.16×
• Total profit: $315,342
• Equity at exit: $84,300

Cash invested: $273,000 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 209
• Price-to-rent: 81.2×

Monthly cashflow live

• Estimated rent: $12,015 medium
• Mortgage (P&I): −$5,113
• Tax from tax record: −$517 /mo · $6,208/yr
• Insurance: −$406
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,523
• Net cashflow: $3,455

Break-even live

Break-even rent $7,641

Max offer price $975,000

Occupancy floor 66%

Sensitivity live

Price	-10% $4,007	-5% $3,731	+0% $3,455	+5% $3,179	+10% $2,903
Rent	-10% $2,506	-5% $2,981	+0% $3,455	+5% $3,930	+10% $4,404
Rate	-1.0pp $3,946	-0.5pp $3,703	base $3,455	+0.5pp $3,203	+1.0pp $2,946

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

Units	Beds	Baths	Est. rent
▸ 12× units	2	1	$12,012
Total (12 units)			$12,015

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: $243,750
• Closing costs: $29,250
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-21
   days on market $975,000 Active 75 DOM
2. 2026-06-18
   days on market $975,000 Active 72 DOM
3. 2026-06-17
   days on market $975,000 Active 71 DOM
4. 2026-06-16
   days on market $975,000 Active 70 DOM
5. 2026-06-15
   days on market $975,000 Active 69 DOM
6. 2026-06-14
   days on market $975,000 Active 67 DOM
7. 2026-06-13
   days on market $975,000 Active 66 DOM
8. 2026-06-10
   days on market $975,000 Active 64 DOM
9. 2026-06-09
   days on market $975,000 Active 63 DOM
10. 2026-06-08
    days on market $975,000 Active 62 DOM
11. 2026-06-07
    days on market $975,000 Active 61 DOM
12. 2026-06-03
    days on market $975,000 Active 57 DOM
13. 2026-06-02
    days on market $975,000 Active 56 DOM
14. 2026-06-01
    days on market $975,000 Active 55 DOM
15. 2026-05-31
    days on market $975,000 Active 54 DOM
16. 2026-05-30
    days on market $975,000 Active 53 DOM
17. 2026-04-07
    listed $1,000,000 Active 1414-char remark

    Show marketing remark (1414 chars)

    Presenting a rare opportunity to acquire a fully renovated, high-performing 12 unit apartment complex in the heart of Montgomery. This turnkey asset offers immediate cash flow, long-term stability, and minimal deferred maintenance—making it an ideal addition to any investment portfolio. This property has undergone comprehensive renovations across all units, ensuring modern appeal and operational efficiency. Every unit has been fully updated with contemporary finishes, creating a strong competitive position in the local rental market and supporting premium rents and tenant retention. Major capital improvements have already been completed, including: new plumbing systems, updated electrical throughout, brand new HVAC systems. The asset is currently supported by established local property management, offering seamless day-to-day operations and a smooth transition for new ownership. Investors can step into a professionally managed, stabilized property from day one. Located in a growing rental market, the property benefits from strong demand drivers, including proximity to major employers such as Maxwell Air Force Base, Alabama State University, and Baptist Health, as well as convenient access to retail, dining, and key transportation corridors. This is a rare chance to acquire a low-maintenance, income-producing property in one of Central Alabama’s most stable and accessible markets.

18. 2025-07-14
    historical $875
19. 2025-06-25
    price $875
20. 2025-06-12
    listed $950
21. 2025-03-06
    historical $750
22. 2025-01-25
    price $700
23. 2024-12-05
    price $775
24. 2024-11-20
    price $825
25. 2024-11-08
    listed $895
26. 2024-10-26
    historical $895
27. 2024-10-24
    listed $895
28. 2024-10-23
    historical $895
29. 2024-10-12
    listed $895
30. 2022-11-21
    soldstatus $660,000

ⓘ 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: $6,208 · $517/mo
• Projected year-2 tax: $6,208 · $517/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°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: $144,180
• − Mortgage interest: −$54,615
• − Property taxes: −$6,208
• − Insurance: −$4,875
• − Repairs & maintenance: −$11,534
• − Management: −$11,534
• − Depreciation: −$28,364
• Taxable income: $27,049
• Est. tax owed @ 24.0%: −$6,492
• After-tax cash flow: $34,971/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): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• 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

+51.5% since first listed

14 events — show timeline

• 2026-04-07 Listed $1,000,000 MAAR
• 2025-07-14 Rental Removed $875 LEASESTAR
• 2025-06-25 Price Changed $875 LEASESTAR
• 2025-06-12 Listed for Rent $950 LEASESTAR
• 2025-03-06 Rental Removed $750 LEASESTAR
• 2025-01-25 Price Changed $700 LEASESTAR
• 2024-12-05 Price Changed $775 LEASESTAR
• 2024-11-20 Price Changed $825 LEASESTAR
• 2024-11-08 Listed for Rent $895 LEASESTAR
• 2024-10-26 Rental Removed $895 LEASESTAR
• 2024-10-24 Listed for Rent $895 LEASESTAR
• 2024-10-23 Rental Removed $895 LEASESTAR
• 2024-10-12 Listed for Rent $895 LEASESTAR
• 2022-11-21 Sold (Public Records) $660,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $6,208 · +0.0% YoY. Source: county tax records.