4018 Bernhardt Dr · Mobile, AL 36605

$152,000

4 bd · 2.0 ba · 2,011 sqft · SingleFamily public records · 317 Days on market

Built 1990 0.26 ac lot $76/sqft · 18% below area Est $186k · 18% under ↓ 22% 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 +27.7/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.1/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

Key facts

• New ac unit
• Leveled roof
• Updated paneling

Tags

• NEW AC UNIT
• LEVELED ROOF
• FRENCH DRAIN INSTALLATION
• UPDATED PANELING
• FRESH EXTERIOR PAINT
• NEW EXTERIOR DOORS AND LOCKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $152k.

Deal economics

• At list price, monthly cash flow is $32 ($385/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $152k).
• Recommended offer: $134k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: schools D-, 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.
• Market conditions: Rents rising fast (+8.3%/yr); 139 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• At $1,832/mo this rent would consume 51% of the median local household income ($44k/yr) (locally 1521% 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 $1k of loan paydown is wiped out by about $5k 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 + 8.0% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; list at $152k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $133,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.21% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.93%
• DSCR: 1.58
• GRM: 6.9

CMA / ARV

• ARV (median comp): $186,114
• List price: $152,000
• Delta: -18.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4021 Perch Point Dr	0.34mi	3/2.0 (-1)	1,922 (-4%)	12mo	$240,000	$125	62
2316 Reneke Ave	0.70mi	3/2.0 (-1)	2,037 (+1%)	7mo	$170,000	$83	55
4137 Morhaven Dr	0.17mi	3/3.0 (-1)	2,261 (+12%)	13mo	$385,000	$170	52
4240 Perch Blvd	0.53mi	4/2.0	2,217 (+10%)	8mo	$307,000	$138	52
3904 Terry Ln	0.32mi	3/2.0 (-1)	2,220 (+10%)	13mo	$141,000	$64	52
2308 PERCH POINT Ct	0.39mi	3/2.5 (-1)	1,816 (-10%)	18mo	$427,000	$235	43
3924 Alba Club Rd	0.58mi	3/2.0 (-1)	1,712 (-15%)	2mo	$160,000	$93	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.70×
• Total profit: $-12,651
• Equity at exit: $22,664

10-year hold

• IRR: 8.7%
• Equity multiple: 1.86×
• Total profit: $36,716
• Equity at exit: $13,142

Cash invested: $42,560 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,832 medium
• Mortgage (P&I): −$797
• Tax from tax record: −$129 /mo · $1,543/yr
• Insurance: −$63
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $32

Break-even live

Break-even rent $1,792

Max offer price $152,000

Occupancy floor 93%

Sensitivity live

Price	-10% $118	-5% $75	+0% $32	+5% $-11	+10% $-54
Rent	-10% $-113	-5% $-40	+0% $32	+5% $104	+10% $177
Rate	-1.0pp $109	-0.5pp $71	base $32	+0.5pp $-7	+1.0pp $-47

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: $38,000
• Closing costs: $4,560
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3910 W Charmaine Cir Mobile, AL	3.0	1.0	1400	$1,200	$0.86	45d	1	1.18mi
3210 Ward Rd Unit 1043617P Mobile, AL	3.0	2.0	1593	$2,395	$1.50	14d	1	1.41mi

Listing history 33 events

1. 2026-06-18
   days on market $152,000 Active 317 DOM
2. 2026-06-17
   days on market $152,000 Active 316 DOM
3. 2026-06-16
   days on market $152,000 Active 315 DOM
4. 2026-06-15
   days on market $152,000 Active 314 DOM
5. 2026-06-14
   days on market $152,000 Active 312 DOM
6. 2026-06-13
   days on market $152,000 Active 311 DOM
7. 2026-06-10
   days on market $152,000 Active 309 DOM
8. 2026-06-09
   days on market $152,000 Active 308 DOM
9. 2026-06-08
   days on market $152,000 Active 307 DOM
10. 2026-06-07
    days on market $152,000 Active 306 DOM
11. 2026-06-05
    days on market $152,000 Active 303 DOM
12. 2026-06-03
    days on market $152,000 Active 302 DOM
13. 2026-06-02
    days on market $152,000 Active 301 DOM
14. 2026-06-01
    days on market $152,000 Active 300 DOM
15. 2026-05-31
    days on market $152,000 Active 299 DOM
16. 2026-05-30
    days on market $152,000 Active 298 DOM
17. 2026-04-23
    price $152,000 650-char remark

    Show marketing remark (650 chars)

    ***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

18. 2026-04-01
    status Active 650-char remark

    Show marketing remark (650 chars)

    ***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

19. 2026-03-31
    historical 650-char remark

    Show marketing remark (650 chars)

    ***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

20. 2025-10-25
    price $157,000 650-char remark

    Show marketing remark (650 chars)

    ***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

21. 2025-08-05
    listed $160,000 Active 650-char remark

    Show marketing remark (650 chars)

    ***Motivated Seller = Your Chance To Win Big!*** This spacious 4 bedroom, 2.5 bathroom home is ready for it's next owner or investor! Several key updates have been made in 2023, including a new AC unit, leveled roof, french drain installation, all CO2 and smoke alarms replaced, fresh exterior paint, new exterior doors and locks. The laundry room also features updated paneling. Enjoy a nice sized backyard, perfect for relaxing or entertaining. Tenant occupied please do not disturb. Showings by appointment only. Seller is open to assisting with closing cost. Buyer agent is responsible for verifying all information deemed important to the buyer.

22. 2024-07-11
    price $155,000
23. 2024-04-08
    price $160,000
24. 2023-08-23
    soldstatus $88,000 Closed
25. 2023-06-05
    status Pending
26. 2023-05-08
    status Active
27. 2023-05-04
    status Pending
28. 2023-04-20
    status Active
29. 2023-04-20
    status Pending
30. 2023-04-12
    historical Active Under Contract
31. 2023-04-10
    listed $99,900 Active
32. 2013-10-10
    soldstatus $25,000
33. 2005-04-21
    soldstatus $194,000

ⓘ 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: $1,543 · $129/mo
• Projected year-2 tax: $1,543 · $129/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $21,990
• − Mortgage interest: −$8,514
• − Property taxes: −$1,543
• − Insurance: −$5,878
• − Repairs & maintenance: −$1,759
• − Management: −$1,759
• − Depreciation: −$4,422
• Taxable loss: −$1,886
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $838/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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 Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

-21.6% since first listed

17 events — show timeline

• 2026-04-23 Price Changed $152,000 GCMLS AL
• 2026-04-01 Relisted — GCMLS AL
• 2026-03-31 Delisted — GCMLS AL
• 2025-10-25 Price Changed $157,000 GCMLS AL
• 2025-08-05 Listed $160,000 GCMLS AL
• 2024-07-11 Price Changed $155,000 GCMLS AL
• 2024-04-08 Price Changed $160,000 GCMLS AL
• 2023-08-23 Sold (MLS) $88,000 GCMLS AL
• 2023-06-05 Pending — GCMLS AL
• 2023-05-08 Relisted — GCMLS AL
• 2023-05-04 Pending — GCMLS AL
• 2023-04-20 Relisted — GCMLS AL
• 2023-04-20 Pending — GCMLS AL
• 2023-04-12 Contingent — GCMLS AL
• 2023-04-10 Listed $99,900 GCMLS AL
• 2013-10-10 Sold (Public Records) $25,000 Public Records
• 2005-04-21 Sold (Public Records) $194,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,543 · +5.5% YoY. Source: county tax records.