11040 Saltaire Dr · Belle Fontaine, AL 36582

$43,000

2 bd · 1.0 ba · 788 sqft · SingleFamily public records · 59 Days on market

Built 1967 0.77 ac lot $55/sqft · 83% 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 +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! Opportunity Awaits! Unlock the potential in this 2-bedroom, 1-bath home located at 11040 Saltaire Dr in Theodore. Situated on a spacious, tree-covered lot, this property offers a peaceful, private setting surrounded by mature trees?perfect for those looking to create something special. Located in the established Saltaire area, you?ll enjoy a relaxed, country-like atmosphere while still being just a short drive to Mobile, shopping, dining, and convenient access to I-10. The nearby waterways, including Fowl River and Mobile Bay, add to the appeal with opportunities for boating, fishing, and enjoying the outdoors. This home is ideal for investors, flippers, or buyers ready to take on a full renovation project. With the right vision, this property could be transformed into a great investment or resale opportunity. Bring your vision and your contractor! The property is being sold AS IS. Property is being sold AS IS. Enter at your own risk ? home will require significant repairs Seller will make no repairs or warranties. Listing broker makes no representations to accuracy. Buyer to verify all information during due diligence.

Key facts

• Tree covered lot
• Nearby waterways
• Mobile bay

Tags

• TREE COVERED LOT
• PRIVATE SETTING
• MATURE TREES
• NEARBY WATERWAYS
• FOWL RIVER
• MOBILE BAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $687 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $42k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#398 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, employment D, schools F.
• 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.
• Market conditions: 250 active listings in the ZIP; 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 $297 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 + 3.0% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($42k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 2.83% ✓
• Cap rate: 25.46%
• Cash-on-cash: 68.44%
• DSCR: 4.05
• GRM: 2.9

CMA / ARV

• ARV (median comp): $250,030
• List price: $43,000
• Delta: -82.80%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 67.9%
• Equity multiple: 4.05×
• Total profit: $36,773
• Equity at exit: $6,411

10-year hold

• IRR: 72.0%
• Equity multiple: 8.34×
• Total profit: $88,355
• Equity at exit: $3,718

Cash invested: $12,040 (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 36582

• Home prices YoY: -19.1%
• Active inventory: 250
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,215 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $687

Break-even live

Break-even rent $346

Max offer price $43,000

Occupancy floor 38%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-15
   statusdays on market $43,000 Pending 59 DOM
2. 2026-06-14
   days on market $43,000 Active 58 DOM
3. 2026-06-13
   days on market $43,000 Active 57 DOM
4. 2026-06-10
   days on market $43,000 Active 55 DOM
5. 2026-06-09
   days on market $43,000 Active 54 DOM
6. 2026-06-08
   days on market $43,000 Active 53 DOM
7. 2026-06-07
   days on market $43,000 Active 52 DOM
8. 2026-06-05
   days on market $43,000 Active 49 DOM
9. 2026-06-03
   days on market $43,000 Active 48 DOM
10. 2026-06-02
    days on market $43,000 Active 47 DOM
11. 2026-06-01
    days on market $43,000 Active 46 DOM
12. 2026-05-31
    days on market $43,000 Active 45 DOM
13. 2026-05-30
    days on market $43,000 Active 44 DOM
14. 2026-04-16
    listed $43,000 Active 1170-char remark

    Show marketing remark (1170 chars)

    Investor Special! Opportunity Awaits! Unlock the potential in this 2-bedroom, 1-bath home located at 11040 Saltaire Dr in Theodore. Situated on a spacious, tree-covered lot, this property offers a peaceful, private setting surrounded by mature trees?perfect for those looking to create something special. Located in the established Saltaire area, you?ll enjoy a relaxed, country-like atmosphere while still being just a short drive to Mobile, shopping, dining, and convenient access to I-10. The nearby waterways, including Fowl River and Mobile Bay, add to the appeal with opportunities for boating, fishing, and enjoying the outdoors. This home is ideal for investors, flippers, or buyers ready to take on a full renovation project. With the right vision, this property could be transformed into a great investment or resale opportunity. Bring your vision and your contractor! The property is being sold AS IS. Property is being sold AS IS. Enter at your own risk ? home will require significant repairs Seller will make no repairs or warranties. Listing broker makes no representations to accuracy. Buyer to verify all information during due diligence.

ⓘ 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: $359 · $30/mo
• Projected year-2 tax: $359 · $30/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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 23 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: $14,583
• − Mortgage interest: −$2,409
• − Property taxes: −$359
• − Insurance: −$215
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$1,251
• Taxable income: $8,016
• Est. tax owed @ 24.0%: −$1,924
• After-tax cash flow: $6,317/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 — Belle Fontaine

• Score: 57/100
• State rank: #398
• US rank: #22301

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Mobile County · 246,577 people
• Metro: Mobile, AL
• Population (ZIP): 23,705
• Household income: $64,763
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 431.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 18% Two or more races 4% Hispanic / Latino 3% Asian 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 95% English-only · Spanish 3% Vietnamese 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: ▼ -49.61%
• Current HPI: 209.7621
• Rent YoY: —
• 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

• 2026-04-16 Listed $43,000 GCMLS AL

Property tax history

+14.4%/yr

Latest (2025): $359 · +0.0% YoY. Source: county tax records.