3731 Charlotte St · Mobile, AL 36605

$45,500

3 bd · 2.0 ba · 1,044 sqft · SingleFamily public records · 27 Days on market

Built 1981 0.37 ac lot

---

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
• 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

Investment property opportunity near Dog River in Mobile, AL! Just 1 mile from Dog River and 3.5 miles from Mobile Bay, this property offers convenient access to popular waterfront activities like boating, fishing, and scenic relaxation. While it does need some extension repairs, a new roof was added in 2018, providing a solid base for updates. With its prime location and great potential for customization, this property is ideal for investors or buyers looking to create a personalized riverside retreat. Don’t miss this chance to add value to a property near Mobile’s best waterfront spots! Cash Only Closing handled by Kristi Fuller Law, Llc

Key facts

• New roof 2018
• Riverside retreat
• 0.37 acre lot

Tags

• RIVERSIDE RETREAT
• NEW ROOF 2018

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $45k (1.5% below list) — sets the bar for market timing.
• Cap rate 28.1% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 40% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $315 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 + 8.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($45k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $44,817 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 3.22% ✓
• Cap rate: 28.06%
• Cash-on-cash: 77.75%
• DSCR: 4.46
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $92,916
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 Lost River Rd	0.18mi	3/1.5	1,125 (+8%)	5mo	$115,000	$102	73
2511 Club House Rd	0.58mi	3/1.5	1,092 (+5%)	3mo	$140,000	$128	61
2855 Gill Rd	0.65mi	3/1.0	1,089 (+4%)	5mo	$24,500	$22	54
2324 Reneke Ave	0.52mi	3/1.0	938 (-10%)	2mo	$99,900	$107	53
3511 Keeling Rd	0.36mi	3/1.0	936 (-10%)	12mo	$28,000	$30	52
2665 Club House Rd	0.43mi	3/1.0	1,104 (+6%)	18mo	$33,000	$30	52
3900 Brookmont Dr	0.39mi	3/1.0	950 (-9%)	15mo	$88,000	$93	50
3916 Del Monte Ct	0.64mi	2/2.0 (-1)	1,044 (0%)	19mo	$93,000	$89	49
2754 Club House Rd	0.44mi	2/1.0 (-1)	1,092 (+5%)	21mo	$30,000	$27	46
2522 Club House Rd	0.57mi	2/1.0 (-1)	936 (-10%)	20mo	$45,000	$48	30

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: 77.2%
• Equity multiple: 4.83×
• Total profit: $48,772
• Equity at exit: $6,784

10-year hold

• IRR: 82.2%
• Equity multiple: 12.01×
• Total profit: $140,209
• Equity at exit: $3,934

Cash invested: $12,740 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,463 medium
• Mortgage (P&I): −$239
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $759

Break-even live

Break-even rent $503

Max offer price $45,500

Occupancy floor 43%

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: $11,375
• Closing costs: $1,365
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2897 Arc Rd Mobile, AL	4.0	2.0	1200	$1,550	$1.29	43d	1	0.15mi
3922 Wiggins Dr Mobile, AL	2.0	1.0	720	$1,000	$1.39	43d	1	0.49mi
3311 Alba Club Rd Mobile, AL	3.0	1.0	1200	$1,200	$1.00	43d	1	0.81mi

Listing history 4 events

1. 2025-01-11
   status Pending
2. 2025-01-08
   status Active
3. 2024-11-23
   status Pending
4. 2024-10-28
   listed $45,500 Active

ⓘ 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: $878 · $73/mo
• Projected year-2 tax: $878 · $73/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 7/10 Severe FEMA zone X (shaded) · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $17,561
• − Mortgage interest: −$2,549
• − Property taxes: −$878
• − Insurance: −$1,025
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$1,324
• Taxable income: $8,976
• Est. tax owed @ 24.0%: −$2,154
• After-tax cash flow: $6,953/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

4 events — show timeline

• 2025-01-11 Pending — LCMLS
• 2025-01-08 Relisted — LCMLS
• 2024-11-23 Pending — LCMLS
• 2024-10-28 Listed $45,500 LCMLS

Property tax history

+1.9%/yr

Latest (2025): $878 · +5.2% YoY. Source: county tax records.