2058 Lucas Dr · Montgomery, AL 36107

$29,900

3 bd · 1.0 ba · 805 sqft · SingleFamily public records · 94 Days on market

Built 1955 7,405 sqft lot $37/sqft · 45% below area Est $54k · 45% under ↓ 50% since listing

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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
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

FEELING LIKE you need a change? Are you just a little bored with not much to do? Well, boy do I have just the thing for you!! Located in the Highland Gardens area is your LITTLE something to do! This 3 bedrooms and 1 bath home is just calling your name! Do you hear it? I can hear it bragging all about its kitchen that can easily accommodate a small table, and how it conveniently overlooks the living room. Bring your drill, glue, and putty and come be a part of making this home sparkle again. Once all cosmetic repairs are complete this home will make a great rental or can also serve as your own quaint personal dwelling. The choices are unlimited!!!! Remember, when you want sugar, spice and real estate advice call me because when you have questions, I have answers.

Key facts

• 7,405 sq ft lot
• Parking
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($966 rent vs $30k).
• Recommended offer: $27k (9.0% below list) — sets the bar for market timing.
• Cap rate 29.7% 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: Rents rising fast (+5.0%/yr); 67 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 36% of the median local income ($32k/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 $207 of loan paydown is wiped out by about $897 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 + 5.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($27k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $4k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $27,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 3.23% ✓
• Cap rate: 29.72%
• Cash-on-cash: 83.67%
• DSCR: 4.72
• GRM: 2.6

CMA / ARV

• ARV (median comp): $54,093
• List price: $29,900
• Delta: -44.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2058 Lucas Dr	0.00mi	3/1.0	805 (0%)	0mo	$28,000	$35	100
2056 Amos St	0.54mi	3/1.0	812 (+1%)	9mo	$65,000	$80	66
1975 Johnson St	0.58mi	3/1.0	881 (+9%)	23mo	$8,000	$9	38
2092 Midway St	0.68mi	2/1.0 (-1)	748 (-7%)	18mo	$28,000	$37	37

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 · 5.05% rent growth · sell at horizon

5-year hold

• IRR: 86.3%
• Equity multiple: 5.10×
• Total profit: $34,364
• Equity at exit: $4,458

10-year hold

• IRR: 89.8%
• Equity multiple: 11.33×
• Total profit: $86,487
• Equity at exit: $2,585

Cash invested: $8,372 (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 36107

• Home prices YoY: -10.9%
• Rents YoY: 5.0%
• Active inventory: 67
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $966 high
• Mortgage (P&I): −$157
• Tax from tax record: −$10 /mo · $119/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $584

Break-even live

Break-even rent $227

Max offer price $29,900

Occupancy floor 35%

Sensitivity live

Price	-10% $601	-5% $592	+0% $584	+5% $575	+10% $567
Rent	-10% $507	-5% $546	+0% $584	+5% $622	+10% $660
Rate	-1.0pp $599	-0.5pp $591	base $584	+0.5pp $576	+1.0pp $568

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2006 Harmon St Unit 3 Montgomery, AL	3.0	1.0	800	$500	$0.62	44d	1	0.14mi
1324 Federal Dr Montgomery, AL	2.0	1.0	1000	$1,100	$1.10	44d	1	0.39mi
2503 Skyline Ave Montgomery, AL	3.0	1.0	1015	$1,150	$1.13	44d	1	0.40mi
517 N Florida St Unit B Montgomery, AL	2.0	1.0	900	$750	$0.83	44d	1	0.49mi
2023 Windsor Ave Montgomery, AL	2.0	1.0	889	$895	$1.01	44d	1	0.49mi
2122 Windsor Ave Montgomery, AL	2.0	1.0	1052	$725	$0.69	44d	1	0.50mi
424 N California St Apt D Montgomery, AL	2.0	1.0	850	$778	$0.92	21d	1	0.57mi
2056 Midway St Montgomery, AL	3.0	1.0	1110	$985	$0.89	44d	1	0.67mi
2076 Midway St Montgomery, AL	3.0	1.0	1068	$1,000	$0.94	44d	1	0.68mi
1817 Texas Ct Montgomery, AL	3.0	1.0	925	$1,050	$1.14	21d	1	0.78mi
80 Turner Pl Unit 14 Montgomery, AL	2.0	1.0	620	$750	$1.21	44d	1	0.83mi
2229 Madison Ave Montgomery, AL	2.0	1.0	1100	$625	$0.57	44d	1	0.84mi
7 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	961	$850	$0.88	44d	1	0.85mi
3042 George B Edmondson Dr Montgomery, AL	3.0	1.0	900	$860	$0.96	44d	1	0.94mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	44d	1	0.98mi
1827 Capitol Ave Montgomery, AL	2.0	1.0	1068	$1,600	$1.50	14d	1	0.98mi
3114 Cotton St Montgomery, AL	3.0	1.0	888	$1,100	$1.24	44d	1	0.99mi
186 E Salem Dr Montgomery, AL	3.0	1.0	1040	$1,195	$1.15	21d	1	1.02mi
2111 Yarbrough St Montgomery, AL	3.0	1.0	962	$795	$0.83	44d	1	1.05mi
700 Coliseum Blvd Unit 700D Montgomery, AL	2.0	1.0	911	$895	$0.98	44d	1	1.07mi
2107 Yarbrough Cir Montgomery, AL	3.0	1.0	910	$925	$1.02	44d	1	1.08mi
1415 Madison Ave Apt E Montgomery, AL	2.0	1.0	825	$1,095	$1.33	14d	1	1.11mi
740 Coliseum Blvd Unit 740A Montgomery, AL	2.0	1.0	1100	$895	$0.81	14d	1	1.11mi
3329 Texas St Montgomery, AL	3.0	1.0	1000	$1,100	$1.10	44d	1	1.13mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	21d	1	1.18mi
319 Olivia Ct Montgomery, AL	2.0	1.0	850	$700	$0.82	21d	1	1.19mi
3319 Willow Lane Dr Montgomery, AL	3.0	2.0	1032	$1,200	$1.16	44d	1	1.27mi
301 Bradley Dr Montgomery, AL	2.0	1.0	841	$935	$1.11	14d	1	1.30mi
298 Broadway St Montgomery, AL	2.0	1.0	896	$900	$1.00	44d	1	1.34mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	44d	1	1.34mi
218 Broadway St Montgomery, AL	2.0	1.0	960	$895	$0.93	14d	1	1.35mi
3334 Cottonwood Dr Montgomery, AL	3.0	2.0	1025	$1,295	$1.26	14d	1	1.37mi
341 Chisholm St Montgomery, AL	3.0	1.0	756	$1,195	$1.58	21d	1	1.45mi
216 Gardendale Dr Montgomery, AL	3.0	1.0	900	$850	$0.94	21d	1	1.49mi

Listing history 15 events

1. 2026-06-08
   status $29,900 Pending 94 DOM
2. 2026-06-07
   statusdays on market $29,900 Active 94 DOM
3. 2026-06-03
   days on market $29,900 Contingent 90 DOM
4. 2026-06-02
   days on market $29,900 Contingent 89 DOM
5. 2026-06-01
   days on market $29,900 Contingent 88 DOM
6. 2026-05-31
   days on market $29,900 Contingent 87 DOM
7. 2026-05-30
   days on market $29,900 Contingent 86 DOM
8. 2026-05-08
   price $29,900 773-char remark

   Show marketing remark (773 chars)

   FEELING LIKE you need a change? Are you just a little bored with not much to do? Well, boy do I have just the thing for you!! Located in the Highland Gardens area is your LITTLE something to do! This 3 bedrooms and 1 bath home is just calling your name! Do you hear it? I can hear it bragging all about its kitchen that can easily accommodate a small table, and how it conveniently overlooks the living room. Bring your drill, glue, and putty and come be a part of making this home sparkle again. Once all cosmetic repairs are complete this home will make a great rental or can also serve as your own quaint personal dwelling. The choices are unlimited!!!! Remember, when you want sugar, spice and real estate advice call me because when you have questions, I have answers.

9. 2026-03-05
   listed $33,600 Active 773-char remark

   Show marketing remark (773 chars)

   FEELING LIKE you need a change? Are you just a little bored with not much to do? Well, boy do I have just the thing for you!! Located in the Highland Gardens area is your LITTLE something to do! This 3 bedrooms and 1 bath home is just calling your name! Do you hear it? I can hear it bragging all about its kitchen that can easily accommodate a small table, and how it conveniently overlooks the living room. Bring your drill, glue, and putty and come be a part of making this home sparkle again. Once all cosmetic repairs are complete this home will make a great rental or can also serve as your own quaint personal dwelling. The choices are unlimited!!!! Remember, when you want sugar, spice and real estate advice call me because when you have questions, I have answers.

10. 2010-10-28
    soldstatus $45,402
11. 2010-10-20
    soldstatus $45,000 210-char remark

    Show marketing remark (210 chars)

    THIS HOUSE COULD MAKE GREAT RENTAL OR FIRST HOME. IT FEATURES A NICE SIZE LIVING ROOM THAT OPENS UP INTO THE KITCHEN AREA. BATH ROOM LOOKS TO HAVE BEEN RECENTLY RENOVATED. OWNER IS A LICENSED REAL ESTATE AGENT.

12. 2010-05-10
    listed $39,900 210-char remark

    Show marketing remark (210 chars)

    THIS HOUSE COULD MAKE GREAT RENTAL OR FIRST HOME. IT FEATURES A NICE SIZE LIVING ROOM THAT OPENS UP INTO THE KITCHEN AREA. BATH ROOM LOOKS TO HAVE BEEN RECENTLY RENOVATED. OWNER IS A LICENSED REAL ESTATE AGENT.

13. 2010-03-05
    soldstatus $10,000
14. 2010-02-10
    listed $24,900
15. 2008-07-16
    listed $60,000

ⓘ 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: $119 · $10/mo
• Projected year-2 tax: $123 · $10/mo
• Expected delta: +$3/yr ($0/mo · 2.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 19 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: $11,589
• − Mortgage interest: −$1,675
• − Property taxes: −$119
• − Insurance: −$150
• − Repairs & maintenance: −$927
• − Management: −$927
• − Depreciation: −$870
• Taxable income: $6,921
• Est. tax owed @ 24.0%: −$1,661
• After-tax cash flow: $5,344/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): 8,001
• Household income: $32,492
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 642.0

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 0.69)
• Race & ethnicity: Black 43% White 27% Hispanic / Latino 23% Two or more races 20%
• Hispanic origin (detail): Mexican 8% Cuban 3%
• Common ancestry: Slovak 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 13%

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: ▼ -18.16%
• Current HPI: 147.8065
• Rent YoY: ▲ 5.05%
• 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

-50.2% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $29,900 MAAR
• 2026-03-05 Listed $33,600 MAAR
• 2010-10-28 Sold (Public Records) $45,402 Public Records
• 2010-10-20 Sold (MLS) $45,000 MAAR
• 2010-05-10 Listed $39,900 MAAR
• 2010-03-05 Sold (MLS) $10,000 MAAR
• 2010-02-10 Listed $24,900 MAAR
• 2008-07-16 Listed $60,000 MAAR

Property tax history

+0.5%/yr

Latest (2025): $119 · +1.4% YoY. Source: county tax records.