383 Felder Ave · Montgomery, AL 36104

$139,000

4 bd · 1.0 ba · 2,431 sqft · MultiFamily public records · 118 Days on market

Built 1925 Est $230k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Walkable neighborhood in the heart of the garden district and steps away from Vintage Cafe, Pine Bar and more on highly sought after Felder Ave. This duplex has one downstairs and one upstairs unit. The downstairs unit has 1 bedroom and 1 bath with around 1,100 square feet of living space. The upstairs unit has 3 bedrooms and 1 bath and include another approximately 1,100 square feet. Both units are currently leased. Rarely does a multi family property come available in Cloverdale. Appliances, washer and dryer included in each unit as well. One unit has the original beautiful heart pine flooring. The architectural shingle roof was replaced in 2019. Loads of parking available in back. Requires 48 hour notice to show. Sold as-is. Seller will make no repairs.

Key facts

• Garden district
• Parking
• Built 1925

Tags

• WALKABLE NEIGHBORHOOD
• GARDEN DISTRICT
• MULTI FAMILY PROPERTY
• ARCHITECTURAL SHINGLE ROOF
• LOADS OF PARKING AVAILABLE

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive. Per door: $442/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• At $2,262/mo this rent would consume 80% 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 $961 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 + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.63% ✓
• Cap rate: 13.92%
• Cash-on-cash: 27.25%
• DSCR: 2.21
• GRM: 5.1

CMA / ARV

• ARV (median comp): $230,070
• List price: $139,000
• Delta: -39.58%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1131 Magnolia Curv	0.66mi	4/2.0	2,200 (-10%)	3mo	$265,000	$120	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 1.87×
• Total profit: $33,755
• Equity at exit: $20,725

10-year hold

• IRR: 29.4%
• Equity multiple: 3.62×
• Total profit: $101,859
• Equity at exit: $12,018

Cash invested: $38,920 (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: 11.0×

Monthly cashflow live

• Estimated rent: $2,262 high
• Mortgage (P&I): −$729
• Tax from tax record: −$116 /mo · $1,398/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $884

Break-even live

Break-even rent $1,143

Max offer price $139,000

Occupancy floor 56%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,056
1× unit	3	1	$1,207
Total (2 units)			$2,262

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	43d	1	0.05mi
144 Clanton Ave Montgomery, AL	4.0	2.0	3178	$1,595	$0.50	21d	1	0.29mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	43d	1	0.32mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	0.57mi
1029 Magnolia Curv Montgomery, AL	3.0	2.5	3134	$2,695	$0.86	13d	1	0.58mi
22 W Cromwell St Montgomery, AL	4.0	2.0	1645	$1,350	$0.82	21d	1	0.64mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	43d	1	0.64mi
1121 Felder Ave Unit 1043909P Montgomery, AL	4.0	2.5	2647	$3,152	$1.19	21d	1	0.65mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	21d	1	0.72mi
640 Plymouth St Montgomery, AL	5.0	3.0	3224	$2,400	$0.74	21d	1	0.72mi
1355 Magnolia Curv Montgomery, AL	3.0	3.0	2260	$1,800	$0.80	13d	1	0.84mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	21d	1	0.89mi
2043 Hazel Hedge Ln Montgomery, AL	4.0	3.0	2001	$1,650	$0.82	13d	1	0.93mi
1425 Blairwood Montgomery, AL	3.0	2.0	1700	$1,850	$1.09	13d	1	1.05mi
1450 Crenshaw Pl S Montgomery, AL	3.0	2.0	1641	$1,775	$1.08	43d	1	1.11mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	21d	1	1.25mi
3510 Bankhead Ave Montgomery, AL	3.0	3.0	2210	$2,250	$1.02	43d	1	1.28mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	13d	1	1.33mi
2045 Bullard St Unit 1043526P Montgomery, AL	3.0	2.0	1797	$2,198	$1.22	43d	1	1.39mi
2009 Bullard St Montgomery, AL	5.0	2.0	1992	$1,975	$0.99	21d	1	1.39mi
3556 Princeton Rd Montgomery, AL	4.0	2.0	2718	$1,200	$0.44	21d	1	1.45mi
2053 Gorgas St Montgomery, AL	3.0	1.0	1955	$1,200	$0.61	21d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $139,000 Active 118 DOM
2. 2026-06-17
   days on market $139,000 Active 117 DOM
3. 2026-06-16
   days on market $139,000 Active 116 DOM
4. 2026-06-15
   days on market $139,000 Active 115 DOM
5. 2026-06-14
   days on market $139,000 Active 113 DOM
6. 2026-06-13
   days on market $139,000 Active 112 DOM
7. 2026-06-10
   days on market $139,000 Active 110 DOM
8. 2026-06-09
   days on market $139,000 Active 109 DOM
9. 2026-06-08
   days on market $139,000 Active 108 DOM
10. 2026-06-07
    days on market $139,000 Active 107 DOM
11. 2026-06-03
    days on market $139,000 Active 103 DOM
12. 2026-06-02
    days on market $139,000 Active 102 DOM
13. 2026-06-01
    days on market $139,000 Active 101 DOM
14. 2026-05-31
    days on market $139,000 Active 100 DOM
15. 2026-05-30
    days on market $139,000 Active 99 DOM
16. 2026-03-17
    price $139,000 766-char remark

    Show marketing remark (766 chars)

    Walkable neighborhood in the heart of the garden district and steps away from Vintage Cafe, Pine Bar and more on highly sought after Felder Ave. This duplex has one downstairs and one upstairs unit. The downstairs unit has 1 bedroom and 1 bath with around 1,100 square feet of living space. The upstairs unit has 3 bedrooms and 1 bath and include another approximately 1,100 square feet. Both units are currently leased. Rarely does a multi family property come available in Cloverdale. Appliances, washer and dryer included in each unit as well. One unit has the original beautiful heart pine flooring. The architectural shingle roof was replaced in 2019. Loads of parking available in back. Requires 48 hour notice to show. Sold as-is. Seller will make no repairs.

17. 2026-03-13
    status Active 766-char remark

    Show marketing remark (766 chars)

    Walkable neighborhood in the heart of the garden district and steps away from Vintage Cafe, Pine Bar and more on highly sought after Felder Ave. This duplex has one downstairs and one upstairs unit. The downstairs unit has 1 bedroom and 1 bath with around 1,100 square feet of living space. The upstairs unit has 3 bedrooms and 1 bath and include another approximately 1,100 square feet. Both units are currently leased. Rarely does a multi family property come available in Cloverdale. Appliances, washer and dryer included in each unit as well. One unit has the original beautiful heart pine flooring. The architectural shingle roof was replaced in 2019. Loads of parking available in back. Requires 48 hour notice to show. Sold as-is. Seller will make no repairs.

18. 2026-03-07
    historical Contingent 766-char remark

    Show marketing remark (766 chars)

    Walkable neighborhood in the heart of the garden district and steps away from Vintage Cafe, Pine Bar and more on highly sought after Felder Ave. This duplex has one downstairs and one upstairs unit. The downstairs unit has 1 bedroom and 1 bath with around 1,100 square feet of living space. The upstairs unit has 3 bedrooms and 1 bath and include another approximately 1,100 square feet. Both units are currently leased. Rarely does a multi family property come available in Cloverdale. Appliances, washer and dryer included in each unit as well. One unit has the original beautiful heart pine flooring. The architectural shingle roof was replaced in 2019. Loads of parking available in back. Requires 48 hour notice to show. Sold as-is. Seller will make no repairs.

19. 2026-02-20
    listed $149,000 Active 766-char remark

    Show marketing remark (766 chars)

    Walkable neighborhood in the heart of the garden district and steps away from Vintage Cafe, Pine Bar and more on highly sought after Felder Ave. This duplex has one downstairs and one upstairs unit. The downstairs unit has 1 bedroom and 1 bath with around 1,100 square feet of living space. The upstairs unit has 3 bedrooms and 1 bath and include another approximately 1,100 square feet. Both units are currently leased. Rarely does a multi family property come available in Cloverdale. Appliances, washer and dryer included in each unit as well. One unit has the original beautiful heart pine flooring. The architectural shingle roof was replaced in 2019. Loads of parking available in back. Requires 48 hour notice to show. Sold as-is. Seller will make no repairs.

20. 2022-03-28
    listed $140,000
21. 2020-06-05
    soldstatus $115,000
22. 2020-06-02
    soldstatus $115,000
23. 2020-03-26
    listed $138,000
24. 2018-09-14
    listed $152,000
25. 2014-08-15
    soldstatus $100,000
26. 2014-02-10
    listed $115,000

ⓘ 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: $1,398 · $116/mo
• Projected year-2 tax: $1,398 · $116/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 ≥108°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: $27,144
• − Mortgage interest: −$7,786
• − Property taxes: −$1,398
• − Insurance: −$695
• − Repairs & maintenance: −$2,172
• − Management: −$2,172
• − Depreciation: −$4,044
• Taxable income: $8,878
• Est. tax owed @ 24.0%: −$2,131
• After-tax cash flow: $8,473/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

+20.9% since first listed

11 events — show timeline

• 2026-03-17 Price Changed $139,000 MAAR
• 2026-03-13 Relisted — MAAR
• 2026-03-07 Contingent — MAAR
• 2026-02-20 Listed $149,000 MAAR
• 2022-03-28 Listed $140,000 MAAR
• 2020-06-05 Sold (Public Records) $115,000 Public Records
• 2020-06-02 Sold (MLS) $115,000 MAAR
• 2020-03-26 Listed $138,000 MAAR
• 2018-09-14 Listed $152,000 MAAR
• 2014-08-15 Sold (MLS) $100,000 MAAR
• 2014-02-10 Listed $115,000 MAAR

Property tax history

+2.6%/yr

Latest (2025): $1,398 · +0.0% YoY. Source: county tax records.