2940 Ashley Ave · Montgomery, AL 36109

$130,000

4 bd · 2.0 ba · 1,836 sqft · SingleFamily public records · 20 Days on market

Built 1950 0.33 ac lot Est $154k · 16% under

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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 +27.0/30.0
• ARV discount +14.6/15.0
• DSCR +9.3/10.0
• 1% rule +6.1/10.0
• 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

Listing remarks

GREAT 4-bedroom, 2-bath home on a quiet street in MONTGOMERY HEIGHTS! Large corner lot & backyard with separate garage/storage, fully fenced and very usable. Lots of mid-century charm in this spacious home. Large family room with beautiful wood burning fireplace. Nice kitchen with breakfast nook. The wood floors throughout the home, currently protected under the carpet, could be refinished, along with a few other easy projects, to make this amazing home truly shine. Montgomery Heights is conveniently located to shopping, schools, restaurants, close to downtown and only minutes to Maxwell and Gunter Air Force Bases!

Key facts

• Breakfast nook
• Fully fenced
• Separate garage

Tags

• CORNER LOT
• BACKYARD
• SEPARATE GARAGE
• FULLY FENCED
• WOOD BURNING FIREPLACE
• BREAKFAST NOOK

Property features AI

Exterior

• Parking: Attached carport (1 space); Detached garage (1 space); Driveway
• Utilities: Public water; Public sewer; Electricity available; Natural gas available; Cable available; High-speed internet available
• Home design: Single-story; Brick construction; Slab foundation
• Construction: Built (year per public records); Brick exterior
• Exterior features: Covered patio and patio; Storage; Workshop; City lot

Interior

• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Carpet, tile, and wood flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% 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); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $154,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3013 Biltmore Ave	0.13mi	3/2.0 (-1)	1,870 (+2%)	0mo	$165,000	$88	86
3012 Pelzer Ave	0.15mi	3/2.0 (-1)	1,790 (-2%)	0mo	$159,900	$89	83
119 Kent St	0.27mi	3/2.0 (-1)	1,785 (-3%)	1mo	$135,000	$76	77
125 Kent St	0.26mi	3/2.0 (-1)	1,932 (+5%)	0mo	$130,000	$67	74
713 Sweeten Creek Rd	0.46mi	3/2.0 (-1)	1,836 (0%)	1mo	$150,000	$82	73
2731 Ashley Ave	0.42mi	3/2.5 (-1)	1,919 (+4%)	2mo	$225,000	$117	64
13 Brantwood Dr	0.56mi	3/2.5 (-1)	1,909 (+4%)	0mo	$118,000	$62	60
2311 Mccarter Ave	0.63mi	3/2.0 (-1)	1,765 (-4%)	0mo	$64,000	$36	59
601 Cliff Rd	0.44mi	4/2.0	1,625 (-12%)	4mo	$165,000	$102	57
3553 S Georgetown Dr	0.62mi	3/2.0 (-1)	1,674 (-9%)	0mo	$140,000	$84	51
20 Arden Rd	0.59mi	3/2.0 (-1)	1,575 (-14%)	1mo	$165,000	$105	43
3592 Pelzer Ave	0.73mi	3/1.5 (-1)	1,676 (-9%)	3mo	$125,000	$75	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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,481
• Equity at exit: $19,383

10-year hold

• IRR: 10.3%
• Equity multiple: 1.79×
• Total profit: $28,767
• Equity at exit: $11,240

Cash invested: $36,400 (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: 207
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,447 high
• Mortgage (P&I): −$682
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $363

Break-even live

Break-even rent $988

Max offer price $130,000

Occupancy floor 70%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2941 Ashley Ave Unit 6616 Montgomery, AL	3.0	2.0	2340	$1,250	$0.53	43d	1	0.04mi
2814 Ashley Ave Montgomery, AL	3.0	2.0	1683	$1,350	$0.80	13d	1	0.24mi
200 Eton Rd Montgomery, AL	3.0	1.5	1500	$895	$0.60	13d	1	0.24mi
2822 Sumter Ave Montgomery, AL	3.0	2.5	1617	$1,300	$0.80	21d	1	0.26mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	43d	1	0.29mi
3105 Pelzer Ave Montgomery, AL	4.0	2.0	1605	$1,425	$0.89	43d	1	0.30mi
2769 Pelzer Ave Montgomery, AL	3.0	2.0	1608	$1,325	$0.82	43d	1	0.35mi
931 Whitehall Pkwy Montgomery, AL	4.0	3.0	2403	$1,800	$0.75	44d	1	0.62mi
3462 Biltmore Ave Montgomery, AL	3.0	2.0	1685	$1,225	$0.73	21d	1	0.63mi
942 Parkwood Ct Montgomery, AL	4.0	2.0	1752	$1,299	$0.74	13d	1	0.64mi
7 Bradley Dr Montgomery, AL	3.0	2.0	1529	$1,500	$0.98	13d	1	0.68mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	21d	1	0.70mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	21d	1	0.72mi
1007 Highpoint Rd Montgomery, AL	4.0	2.0	2089	$1,581	$0.76	13d	1	0.73mi
239 Forest Hills Dr Montgomery, AL	4.0	1.5	1500	$1,450	$0.97	21d	1	0.77mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	13d	1	0.79mi
2243 Winona Ave Montgomery, AL	3.0	1.0	1492	$1,225	$0.82	21d	1	0.83mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	43d	1	0.84mi
804 Hillman St Montgomery, AL	3.0	2.0	1356	$1,295	$0.96	21d	1	0.84mi
804 Hillman St Montgomery, AL	3.0	2.0	1370	$1,295	$0.95	13d	1	0.84mi
610 S Georgetown Dr Unit 1386555P Montgomery, AL	3.0	1.0	1474	$3,635	$2.47	13d	1	0.87mi
3614 Princess Ann St Montgomery, AL	4.0	2.0	1928	$1,581	$0.82	13d	1	0.89mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	0.91mi
2001 Speigle St Montgomery, AL	3.0	1.0	1260	$1,035	$0.82	43d	1	0.96mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	0.98mi
3667 Willow Lane Dr Montgomery, AL	5.0	3.0	2565	$1,850	$0.72	43d	1	0.99mi
3737 Dalraida Pkwy Montgomery, AL	3.0	1.0	1618	$1,150	$0.71	43d	1	0.99mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	43d	1	1.02mi
3760 Dalraida Pkwy Montgomery, AL	4.0	2.5	1900	$1,850	$0.97	43d	1	1.06mi
107 Dalraida Rd Unit A Montgomery, AL	3.0	2.0	1237	$1,200	$0.97	43d	1	1.09mi
3008 Cabot St Montgomery, AL	4.0	2.0	1300	$1,150	$0.88	43d	1	1.11mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	21d	1	1.14mi
3806 Marie Cook Dr Montgomery, AL	3.0	2.0	1791	$1,675	$0.94	13d	1	1.17mi
2113 Brewton St Montgomery, AL	3.0	1.0	1363	$1,150	$0.84	43d	1	1.18mi
3602 Little John Dr Montgomery, AL	4.0	1.0	1286	$1,400	$1.09	21d	1	1.21mi
3801 Cedar Ave Montgomery, AL	3.0	2.0	1818	$1,681	$0.92	21d	1	1.22mi
2004 Capitol Ave Unit 1043879P Montgomery, AL	4.0	2.5	1797	$3,518	$1.96	13d	1	1.22mi
3050 Willena Ave Montgomery, AL	3.0	1.0	1466	$985	$0.67	21d	1	1.24mi
1201 Dalraida Rd Montgomery, AL	3.0	2.0	1673	$1,625	$0.97	43d	1	1.27mi
4056 Wares Ferry Rd Montgomery, AL	3.0	2.0	1800	$1,500	$0.83	13d	1	1.35mi

Listing history 16 events

1. 2026-06-18
   days on market $130,000 Active 20 DOM
2. 2026-06-17
   days on market $130,000 Active 19 DOM
3. 2026-06-16
   days on market $130,000 Active 18 DOM
4. 2026-06-15
   days on market $130,000 Active 17 DOM
5. 2026-06-14
   days on market $130,000 Active 15 DOM
6. 2026-06-13
   days on market $130,000 Active 14 DOM
7. 2026-06-10
   days on market $130,000 Active 12 DOM
8. 2026-06-09
   days on market $130,000 Active 11 DOM
9. 2026-06-08
   days on market $130,000 Active 10 DOM
10. 2026-06-07
    days on market $130,000 Active 9 DOM
11. 2026-06-03
    days on market $130,000 Active 5 DOM
12. 2026-06-02
    days on market $130,000 Active 4 DOM
13. 2026-06-01
    days on market $130,000 Active 3 DOM
14. 2026-05-31
    days on market $130,000 Active 2 DOM
15. 2026-05-30
    remarks 625-char remark
16. 2026-05-30
    listed $130,000 Active 1 DOM

ⓘ 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: $534 · $44/mo
• Projected year-2 tax: $534 · $44/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 7/10 Severe 7 d/yr ≥107°F today · 20 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: $17,364
• − Mortgage interest: −$7,282
• − Property taxes: −$534
• − Insurance: −$650
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$3,782
• Taxable income: $2,339
• Est. tax owed @ 24.0%: −$561
• After-tax cash flow: $3,792/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

1 event — show timeline

• 2026-05-27 Listed $130,000 MAAR

Property tax history

+4.3%/yr

Latest (2024): $534 · +2.6% YoY. Source: county tax records.