529 Highland Woods Dr #529 · Mobile, AL 36608

$139,900

3 bd · 2.5 ba · 1,584 sqft · Townhouse · 8 Days on market

Built 1974 Fair condition 4,251 sqft lot Est $217k · 36% under $150/mo HOA · 9% of rent

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Why this score? — see what drove the C+ 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 +21.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.1/10.0
• DSCR +7.0/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Fixer upper, Handyman special, Conveniently located near shopping, grocery stores, restaurants, and the University of South Alabama, this spacious3-bedroom, 2.5 bath townhome is an investor's dream, a great central location. The main level features a spacious living room, separate family room/den, kitchen with dining area overlooking the private fenced courtyard, a half bath, and convenient laundry area. Upstairs, the primary suite includes a private bath and 2 walk-in closets with two additional bedrooms and a full bath provide plenty of space, attached exterior storage room, and covered parking for two vehicles located directly behind the townhome, this home is a must see. Buyer responsib

Key facts

• $150 HOA
• Garage
• Built 1974

Tags

• PRIVATE FENCED COURTYARD
• ATTACHED EXTERIOR STORAGE ROOM

Property features AI

Finance

• HOA & community: Condominium ownership; Monthly association fee of $150 covering trash and other items; No community amenities listed

Exterior

• Parking: Detached double carport (2 covered spaces)
• Utilities: Public water; Electric service by Alabama Power
• Home design: Townhouse; Attached property; Two levels; Corner unit
• Construction: Brick, metal siding, and other exterior materials; Slab foundation; See remarks for roof
• Exterior features: Patio; Rear porch; Has view; Less than 1 acre lot; No waterfront

Interior

• Kitchen: Other appliances (see remarks)
• Bedrooms: Master bedroom with multiple walk-in closets
• Flooring: Carpet; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating
• Interior features: Other rooms (see remarks); No fireplace; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.2% 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 (+6.2%/yr); 338 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 33% of the median local income ($61k/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 $967 of loan paydown is wiped out by about $4k 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 + 6.2% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: 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 $139,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.69%
• DSCR: 1.30
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $217,008
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6087 N Highland Cir	0.19mi	3/2.0	1,533 (-3%)	24mo	$208,000	$136	64
270 Hillcrest Rd #707	0.71mi	3/2.5	1,500 (-5%)	13mo	$205,000	$137	47
181 General Bullard Ave	0.54mi	3/2.0	1,740 (+10%)	13mo	$257,000	$148	45
270 Hillcrest Rd #304	0.64mi	3/2.5	1,364 (-14%)	4mo	$165,000	$121	44
270 Hillcrest Rd #405	0.64mi	3/2.5	1,412 (-11%)	12mo	$195,000	$138	42
270 Hillcrest Rd #402	0.64mi	3/2.5	1,386 (-12%)	20mo	$187,500	$135	33

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 · 6.15% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-3,122
• Equity at exit: $20,860

10-year hold

• IRR: 11.2%
• Equity multiple: 2.02×
• Total profit: $39,853
• Equity at exit: $12,096

Cash invested: $39,172 (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 36608

• Rents YoY: 6.2%
• Active inventory: 338
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$150
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $218

Break-even live

Break-even rent $1,414

Max offer price $139,900

Occupancy floor 82%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6016 Magnolia Pl E Mobile, AL	3.0	2.0	1600	$1,800	$1.12	43d	1	0.41mi
4670 Rosewood Dr Mobile, AL	3.0	2.0	1192	$1,200	$1.01	13d	1	0.60mi
6427 Airport Blvd Mobile, AL	2.0–3.0	2.0–2.5	1214	$1,537	$1.27	43d	10	0.68mi
112 S University Blvd Mobile, AL	4.0	4.5	1472	$1,810	$1.23	13d	5	0.74mi
1056 Linlen Ave Mobile, AL	3.0	3.0	1975	$2,300	$1.16	43d	1	0.80mi
6474B Cedar Bend Ct Mobile, AL	2.0	2.0	1444	$1,600	$1.11	43d	1	0.93mi
6701 Dickens Ferry Rd #30 Mobile, AL	3.0	2.5	1342	$1,395	$1.04	21d	1	1.10mi
6700 Wall St Mobile, AL	2.0–3.0	1.0–2.0	1231	$1,571	$1.28	13d	6	1.17mi
101 Foreman Rd Mobile, AL	1.0–3.0	1.0–2.0	835	$1,279	$1.53	43d	9	1.18mi
5900 Grelot Rd Mobile, AL	2.0	2.0–2.5	1259	$1,600	$1.27	13d	2	1.21mi
304 N University Blvd Unit 1043721P Mobile, AL	4.0	2.5	1496	$4,148	$2.77	21d	1	1.22mi
424 Byron Ave E Mobile, AL	4.0	2.0	1917	$2,500	$1.30	21d	1	1.26mi
316 Syracuse St Mobile, AL	3.0	2.0	1776	$1,875	$1.06	13d	1	1.28mi
6075 Grelot Rd Mobile, AL	2.0	1.0	1050	$1,215	$1.16	13d	1	1.28mi
1601 Hillcrest Rd Mobile, AL	2.0	2.0	1250	$1,603	$1.28	13d	1	1.49mi

HOA detail

• Monthly dues: $150 · $1,800/yr

Listing history 7 events

1. 2026-06-07
   status $139,900 Pending 8 DOM
2. 2026-06-03
   days on market $139,900 Active 8 DOM
3. 2026-06-02
   days on market $139,900 Active 7 DOM
4. 2026-06-01
   days on market $139,900 Active 6 DOM
5. 2026-05-31
   days on market $139,900 Active 5 DOM
6. 2026-05-30
   days on market $139,900 Active 4 DOM
7. 2026-05-26
   listed $139,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,280
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − HOA: −$1,800
• − Depreciation: −$4,070
• Taxable income: $531
• Est. tax owed @ 24.0%: −$127
• After-tax cash flow: $2,492/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.

Condition & rehab AI · 26 photos

Fair 45/100 Moderate rehab

This townhouse requires moderate renovations to modernize the kitchen and bathrooms, paint interior walls, and replace carpeted stairs. It has a good roof and foundation, but some exterior paint and landscaping could be improved.

Repairs flagged

• Major Kitchen cabinets — Worn and outdated
• Major Bathroom cabinets — Worn and outdated
• Moderate Exterior paint — Some discoloration

Value-add opportunities

• Both Replace kitchen cabinets and countertops — Modernizes kitchen and increases value
• Both Replace bathroom cabinets and fixtures — Modernizes bathrooms and increases value
• Both Paint interior walls — Freshens up interior and increases value
• Both Replace carpeted stairs — Modernizes entryway and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn and outdated	Major	$15,000–50,000
Bathroom cabinets · Worn and outdated	Major	$15,000–50,000
Exterior paint · Some discoloration	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Both Replace kitchen cabinets and countertops — Modernizes kitchen and increases value ↑
• Both Replace bathroom cabinets and fixtures — Modernizes bathrooms and increases value ↑
• Both Paint interior walls — Freshens up interior and increases value ↑
• Both Replace carpeted stairs — Modernizes entryway and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 38,890
• Household income: $61,146
• Rent vs Own: 45.8% rent · 54.2% own
• Severe rent burden: 1823.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 56% Black 35% Two or more races 4% Hispanic / Latino 4% Asian 2%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Arabic 1% Other Indo-European 1%

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: ▼ -224.52%
• Current HPI: 198.9469
• Rent YoY: ▲ 6.15%
• 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

1 event — show timeline

• 2026-05-26 Listed $139,900 BCAR