117 Kelley Ln · Montgomery, AL 36105

$43,000

4 bd · 3.0 ba · 2,352 sqft · SingleFamily public records · 57 Days on market

Built 1948 9,583 sqft lot $18/sqft · 30% below area Est $62k · 30% 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

Listing remarks MLS

* * INVESTOR SPECIAL * * Excellent investment opportunity with great potential for strong returns! This property is ideal for investors looking to add to their portfolio or complete a profitable renovation. With solid bones and a functional layout, this four bedroom, two and a half bath home is just waiting for your personal touch. With a little bit of work, you can transform this gem into a truly great investment for resale or rental income. Property is being sold as-is—don’t miss this chance to turn potential into profit!

Key facts

• 9,583 sq ft lot
• Parking
• Built 1948

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $981 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $43k).
• Recommended offer: $42k (3.0% below list) — sets the bar for market timing.
• Cap rate 33.7% 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: 79 active listings in the ZIP; 18 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 $1,591/mo this rent would consume 46% of the median local household income ($41k/yr) (locally 679% 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 $297 of loan paydown is wiped out by about $1k 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $10k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $43k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $41,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1948 — 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: 3.70% ✓
• Cap rate: 33.67%
• Cash-on-cash: 97.76%
• DSCR: 5.35
• GRM: 2.3

CMA / ARV

• ARV (median comp): $61,610
• List price: $43,000
• Delta: -30.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3524 S Perry St	0.49mi	3/2.0 (-1)	2,314 (-2%)	7mo	$79,900	$35	60
3608 Norman Bridge Rd	0.37mi	5/2.0 (+1)	2,600 (+10%)	1mo	$29,900	$12	55
3458 Gilmer Ave	0.63mi	4/3.0	2,400 (+2%)	22mo	$101,000	$42	49
3504 Southmont Dr	0.52mi	4/2.5	2,698 (+15%)	20mo	$65,000	$24	33
3455 S Perry St	0.64mi	3/2.0 (-1)	2,026 (-14%)	11mo	$127,000	$63	28

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: 98.7%
• Equity multiple: 5.61×
• Total profit: $55,514
• Equity at exit: $6,411

10-year hold

• IRR: —
• Equity multiple: 11.70×
• Total profit: $128,827
• Equity at exit: $3,718

Cash invested: $12,040 (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 36105

• Home prices YoY: -32.6%
• Active inventory: 79
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,591 high
• Mortgage (P&I): −$225
• Tax from tax record: −$33 /mo · $393/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $981

Break-even live

Break-even rent $350

Max offer price $43,000

Occupancy floor 33%

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3963 S Court St Montgomery, AL	5.0	2.0	2000	$1,840	$0.92	43d	1	0.21mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	21d	1	0.43mi
3902 Wesley Dr Montgomery, AL	5.0	2.0	1689	$1,595	$0.94	21d	1	0.46mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	21d	1	0.55mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	13d	1	0.59mi
3556 Princeton Rd Montgomery, AL	4.0	2.0	2718	$1,200	$0.44	21d	1	0.64mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	21d	1	0.93mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	21d	1	0.96mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	43d	1	0.98mi
1067 Roslyn Dr Montgomery, AL	4.0	2.0	1760	$1,125	$0.64	21d	1	1.00mi
1388 Adrian Ln Montgomery, AL	5.0	2.0	1701	$1,600	$0.94	13d	1	1.02mi
3510 Bankhead Ave Montgomery, AL	3.0	3.0	2210	$2,250	$1.02	43d	1	1.04mi
640 Plymouth St Montgomery, AL	5.0	3.0	3224	$2,400	$0.74	21d	1	1.04mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	43d	1	1.05mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	1.15mi
1437 Beaumont Dr Montgomery, AL	4.0	2.0	2029	$1,500	$0.74	43d	1	1.20mi
1434 E Audubon Rd Montgomery, AL	4.0	2.0	2237	$1,475	$0.66	43d	1	1.26mi
1355 Buckingham Dr Montgomery, AL	4.0	2.0	1620	$1,650	$1.02	13d	1	1.36mi

Listing history 23 events

1. 2026-06-18
   days on market $43,000 Active 57 DOM
2. 2026-06-17
   days on market $43,000 Active 56 DOM
3. 2026-06-16
   days on market $43,000 Active 55 DOM
4. 2026-06-15
   days on market $43,000 Active 54 DOM
5. 2026-06-14
   days on market $43,000 Active 52 DOM
6. 2026-06-13
   days on market $43,000 Active 51 DOM
7. 2026-06-10
   days on market $43,000 Active 49 DOM
8. 2026-06-09
   days on market $43,000 Active 48 DOM
9. 2026-06-08
   days on market $43,000 Active 47 DOM
10. 2026-06-07
    days on market $43,000 Active 46 DOM
11. 2026-06-03
    days on market $43,000 Active 42 DOM
12. 2026-06-02
    pricedays on market $43,000 Active 41 DOM
13. 2026-06-01
    days on market $48,000 Active 40 DOM
14. 2026-05-31
    days on market $48,000 Active 39 DOM
15. 2026-05-30
    days on market $48,000 Active 38 DOM
16. 2026-05-15
    price $48,000 544-char remark

    Show marketing remark (544 chars)

    * * INVESTOR SPECIAL * * Excellent investment opportunity with great potential for strong returns! This property is ideal for investors looking to add to their portfolio or complete a profitable renovation. With solid bones and a functional layout, this four bedroom, two and a half bath home is just waiting for your personal touch. With a little bit of work, you can transform this gem into a truly great investment for resale or rental income. Property is being sold as-is—don’t miss this chance to turn potential into profit!

17. 2026-04-23
    listed $53,000 Active 544-char remark

    Show marketing remark (544 chars)

    * * INVESTOR SPECIAL * * Excellent investment opportunity with great potential for strong returns! This property is ideal for investors looking to add to their portfolio or complete a profitable renovation. With solid bones and a functional layout, this four bedroom, two and a half bath home is just waiting for your personal touch. With a little bit of work, you can transform this gem into a truly great investment for resale or rental income. Property is being sold as-is—don’t miss this chance to turn potential into profit!

18. 2023-07-19
    soldstatus $18,900 Closed 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

19. 2023-06-23
    status Pending 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

20. 2023-06-01
    price $19,900 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

21. 2023-04-26
    price $24,900 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

22. 2023-03-23
    price $29,900 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

23. 2023-02-01
    listed $34,900 Active 477-char remark

    Show marketing remark (477 chars)

    Did you hear? I'm ready for your visit and makeover. I have 4 bedrooms and 3 bathrooms. I'm awaiting your arrival to make me your forever home or your next investment property. Don't wait to visit, I might not be around long at this great price. See you soon. Call your agent and let's get started. Owner has never lived within the property. Owner nor its agent has any information in reference to the systems of subject property. Property is being sold in its As-Is condition.

ⓘ 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: $393 · $33/mo
• Projected year-2 tax: $393 · $33/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 3/10 Moderate FEMA zone X (shaded) · 20% 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,094
• − Mortgage interest: −$2,409
• − Property taxes: −$393
• − Insurance: −$215
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$1,251
• Taxable income: $11,771
• Est. tax owed @ 24.0%: −$2,825
• After-tax cash flow: $8,945/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): 9,207
• Household income: $41,486
• Rent vs Own: 39.9% rent · 60.1% own
• Severe rent burden: 679.0

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 (83%)
• Race & ethnicity: Black 83% White 12% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Italian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -31.17%
• Current HPI: 64.4673
• 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

+37.5% since first listed

8 events — show timeline

• 2026-05-15 Price Changed $48,000 MAAR
• 2026-04-23 Listed $53,000 MAAR
• 2023-07-19 Sold (MLS) $18,900 MAAR
• 2023-06-23 Pending — MAAR
• 2023-06-01 Price Changed $19,900 MAAR
• 2023-04-26 Price Changed $24,900 MAAR
• 2023-03-23 Price Changed $29,900 MAAR
• 2023-02-01 Listed $34,900 MAAR

Property tax history

+4.9%/yr

Latest (2025): $393 · -13.3% YoY. Source: county tax records.