610 Clay St · Montgomery, AL 36104

$100,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 43 Days on market

Built 1940 3,920 sqft lot $104/sqft · 177% above 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
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

The building will make a great home or office or both. Located in the Historic Cottage Hill downtown area. In close proximity to Maxwell AFB, the Riverfront and Montgomery Whitewater Park. A deck overlooks the Alabama River and also includes a basement. Great for Riverwalk development. Sold AS-IS.

Key facts

• 3,920 sq ft lot
• Parking
• Built 1940

Property features AI

Exterior

• Parking: Parking pad (2 pads)
• Utilities: Public water; Public sewer; Electricity available; Cable available; High-speed internet available
• Home design: Wood siding exterior
• Construction: Basement and slab foundation; Year built from public records
• Exterior features: Deck; City lot; Public road frontage

Interior

• Kitchen: Water heater (listed as appliance)
• Bedrooms: Bedroom on the first level
• Flooring: Wood
• Bathrooms: 1 full bathroom on the first level
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Finished basement; Wood flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $553 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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: 53 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $1,461/mo this rent would consume 52% of the median local household income ($34k/yr) (locally 641% 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 $691 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1940 — 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. 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?
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: 1.46% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.69%
• DSCR: 2.05
• GRM: 5.7

CMA / ARV

• ARV (median comp): $36,037
• List price: $100,000
• Delta: 177.49%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.8%
• Equity multiple: 1.68×
• Total profit: $18,966
• Equity at exit: $14,910

10-year hold

• IRR: 25.3%
• Equity multiple: 3.20×
• Total profit: $61,711
• Equity at exit: $8,646

Cash invested: $28,000 (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 36104

• Active inventory: 53
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,461 high
• Mortgage (P&I): −$524
• Tax from tax record: −$35 /mo · $424/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $553

Break-even live

Break-even rent $761

Max offer price $100,000

Occupancy floor 57%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Maxwell Blvd Montgomery, AL	1.0–2.0	1.0–2.0	971	$1,943	$2.00	13d	11	0.03mi
545 Clay St Montgomery, AL	2.0	2.0	1104	$1,050	$0.95	43d	1	0.06mi
501 Clayton St Unit 501A Montgomery, AL	1.0	1.0	655	$725	$1.11	43d	1	0.28mi
207 Montgomery St Montgomery, AL	1.0–2.0	1.0–2.0	890	$1,785	$2.01	13d	4	0.49mi
215 N Court St Unit 06 Montgomery, AL	1.0	1.0	695	$1,315	$1.89	43d	1	0.62mi
215 N Court St Unit 04 Montgomery, AL	1.0	1.0	927	$1,570	$1.69	43d	1	0.62mi
671 S Perry St Montgomery, AL	2.0	1.0–2.0	525	$1,725	$3.29	21d	1	0.93mi
1301 S Perry St Unit A Montgomery, AL	2.0	1.0	1100	$950	$0.86	13d	1	1.36mi
1314 S Hull St Unit 1316B Montgomery, AL	1.0	1.0	866	$700	$0.81	43d	1	1.45mi
1316 S Hull St Unit B Montgomery, AL	1.0	1.0	866	$700	$0.81	43d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $100,000 Active 43 DOM
2. 2026-06-17
   days on market $100,000 Active 42 DOM
3. 2026-06-16
   days on market $100,000 Active 41 DOM
4. 2026-06-15
   days on market $100,000 Active 40 DOM
5. 2026-06-14
   days on market $100,000 Active 38 DOM
6. 2026-06-13
   days on market $100,000 Active 37 DOM
7. 2026-06-10
   days on market $100,000 Active 35 DOM
8. 2026-06-09
   days on market $100,000 Active 34 DOM
9. 2026-06-08
   days on market $100,000 Active 33 DOM
10. 2026-06-07
    days on market $100,000 Active 32 DOM
11. 2026-06-03
    days on market $100,000 Active 28 DOM
12. 2026-06-02
    days on market $100,000 Active 27 DOM
13. 2026-06-01
    days on market $100,000 Active 26 DOM
14. 2026-05-31
    days on market $100,000 Active 25 DOM
15. 2026-05-30
    days on market $100,000 Active 24 DOM
16. 2026-05-06
    listed $100,000 Active 298-char remark

ⓘ 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.

Taxation est. · year 1

• Rental income: $17,531
• − Mortgage interest: −$5,602
• − Property taxes: −$424
• − Insurance: −$500
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$2,909
• Taxable income: $5,292
• Est. tax owed @ 24.0%: −$1,270
• After-tax cash flow: $5,363/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): 10,535
• Household income: $33,823
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 641.0

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: Predominantly Black (72%)
• Race & ethnicity: Black 72% White 20% Two or more races 6% Hispanic / Latino 2%
• Common ancestry: Swedish 2% Russian 1% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1%

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: ▼ -101.13%
• Current HPI: 27.2384
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-06 Listed $100,000 MAAR

Property tax history

+1.7%/yr

Latest (2025): $424 · +14.7% YoY. Source: county tax records.