302 Price Ave S · Prichard, AL 36610

$60,000

3 bd · 1.0 ba · 950 sqft · SingleFamily public records · 48 Days on market

Built 1978 4,782 sqft lot Est $44k · 37% over

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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
• Appreciation +5.2/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0

Listing remarks

This charming 3 bed, 1 bath home is currently tenant occupied providing cash flow from day one with built-in flexibility. Strong addition for investors seeking stable returns with upside potential. Ideal for investors looking to add to their portfolio or buyers seeking income from day one. Please do not disturb tenant. Showings by appointment only. Seller is offering package deal opportunity with (407 Garrison MLS: 7718276). Seller prefers to sell both properties together and is willing to offer more competitive pricing for a combined purchase

Key facts

• 4,782 sq ft lot
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $426 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 11.4% in Prichard — 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 54/100 on livability (#472 in AL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: crime F, amenities F, commute 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.
• Zoned schools: Grant Elementary School (math 8% / reading 22%, grade F, #508 of 627 statewide, top 84%, 236 students, 98% FRL); Cf Vigor High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 547 students, 86% FRL) — zoned schools average 92% FRL vs 67% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 41 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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

• In year one you build about $638 of equity ($415 loan paydown + $223 appreciation (0.4% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (0.4% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1978 — 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 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.69% ✓
• Cap rate: 14.81%
• Cash-on-cash: 30.42%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $43,700
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
302 Price Ave S	0.00mi	3/1.0	950 (0%)	0mo	$60,000	$63	100
116 Grant Cir	0.12mi	3/1.0	864 (-9%)	1mo	$40,000	$46	78
330 Max St	0.45mi	3/1.0	920 (-3%)	8mo	$26,000	$28	67
16 Elm St W	0.55mi	2/2.0 (-1)	936 (-2%)	10mo	$48,000	$51	55
853 Garrison Ave	0.54mi	3/1.5	1,020 (+7%)	13mo	$15,000	$15	50
439 Zieman	0.69mi	3/1.0	888 (-6%)	17mo	$26,000	$29	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.37% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.6%
• Equity multiple: 2.57×
• Total profit: $26,415
• Equity at exit: $18,547

10-year hold

• IRR: 34.7%
• Equity multiple: 4.99×
• Total profit: $66,973
• Equity at exit: $23,213

Cash invested: $16,800 (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 36610

• Home prices YoY: 0.9%
• Active inventory: 41
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,014 high
• Mortgage (P&I): −$315
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $426

Break-even live

Break-even rent $475

Max offer price $60,000

Occupancy floor 53%

Sensitivity live

Price	-10% $460	-5% $443	+0% $426	+5% $409	+10% $392
Rent	-10% $346	-5% $386	+0% $426	+5% $466	+10% $506
Rate	-1.0pp $456	-0.5pp $441	base $426	+0.5pp $410	+1.0pp $394

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Rawls Ave Mobile, AL	2.0	1.0	1032	$1,100	$1.07	14d	1	0.40mi
100 Dairy Rd Mobile, AL	2.0–3.0	2.0	999	$1,100	$1.10	14d	1	0.90mi
38 Flock Ave Mobile, AL	2.0	1.0	849	$795	$0.94	44d	1	1.02mi
519 Bay Bridge Rd Unit B Prichard, AL	2.0	1.0	1000	$925	$0.93	44d	1	1.32mi
156 9th Ave Chickasaw, AL	2.0	1.0	720	$950	$1.32	22d	1	1.33mi

Listing history 7 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   price $60,000
3. 2026-04-07
   price $65,000
4. 2026-03-11
   status Active
5. 2026-03-05
   status Pending
6. 2026-02-18
   listed $70,000 Active
7. 2011-05-10
   soldstatus $50,000

ⓘ 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: $424 · $35/mo
• Projected year-2 tax: $424 · $35/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $12,165
• − Mortgage interest: −$3,361
• − Property taxes: −$424
• − Insurance: −$300
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,745
• Taxable income: $4,388
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $4,057/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 — Prichard

• Score: 54/100
• State rank: #472
• US rank: #24080

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Prichard, AL
• City population: 13,402
• Population (ZIP): 9,692

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 (97%)
• Race & ethnicity: Black 97% Hispanic / Latino 1% White 1%
• Foreign-born: 0%

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: ▲ 0.37%
• Current HPI: 42.6203
• Rent YoY: —
• Metro: —
• 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

+20.0% since first listed

7 events — show timeline

• 2026-04-13 Pending — GCMLS AL
• 2026-04-07 Price Changed $60,000 GCMLS AL
• 2026-04-07 Price Changed $65,000 GCMLS AL
• 2026-03-11 Relisted — GCMLS AL
• 2026-03-05 Pending — GCMLS AL
• 2026-02-18 Listed $70,000 GCMLS AL
• 2011-05-10 Sold (Public Records) $50,000 Public Records

Property tax history

+6.7%/yr

Latest (2025): $424 · +1.5% YoY. Source: county tax records.