666 Farnell Ln · Mobile, AL 36606

$134,900

4 bd · 1.5 ba · 1,625 sqft · SingleFamily public records · 2 Days on market

Built 1985 8,768 sqft lot Est $218k · 38% 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 +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 666 Farnell Lane! This well-maintained 4-bedroom, 1.5-bath home is an excellent opportunity for both investors and owner-occupants. Designed for easy, low-maintenance living, the property features a durable brick exterior, slab foundation, brand-new roof, and tile flooring throughout. Inside, you'll find two separate living areas, providing plenty of space for relaxing, entertaining, or creating a home office. The kitchen offers abundant cabinet storage and includes a gas stove for cooking convenience. Outside, the home features a double carport with ample parking, as well as both a covered front porch and covered back patio—perfect for enjoying the outdoors year-round. Con

Key facts

• Slab foundation
• Brick exterior
• Brand new roof

Tags

• BRICK EXTERIOR
• SLAB FOUNDATION
• BRAND NEW ROOF
• TILE FLOORING
• TWO SEPARATE LIVING AREAS
• ABUNDANT CABINET STORAGE

Property features AI

Exterior

• Parking: Carport (2 spaces)
• Utilities: Electricity available; Natural gas available; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Shingle roof; Slab foundation
• Exterior features: Storage; Back yard fencing; View present

Interior

• Kitchen: Gas range
• Bedrooms: 4 bedrooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Walk-in closets; Dining L layout; Kitchen with additional cabinets; No fireplace; No basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 10.2% 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: 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.
• Zoned schools: Morningside Elementary School (math 9% / reading 29%, grade F, #478 of 627 statewide, top 76%, 455 students, 98% FRL); Murphy High School (math 10% / reading 19%, grade F, #220 of 305 statewide, top 77%, 1,254 students, 66% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 175 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $933 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 + 5.1% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 2 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.80%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $217,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3006 Pleasant Valley Rd	0.22mi	3/2.0 (-1)	1,613 (-1%)	2mo	$110,000	$68	80
2755 Marcelus Dr	0.44mi	3/2.0 (-1)	1,694 (+4%)	0mo	$210,000	$124	65
2758 Brookwood Dr	0.55mi	3/2.0 (-1)	1,678 (+3%)	3mo	$230,000	$137	60
509 W Barksdale Dr	0.45mi	3/2.0 (-1)	1,550 (-5%)	6mo	$250,000	$161	60
2768 Brookwood Dr	0.50mi	3/1.5 (-1)	1,782 (+10%)	1mo	$253,000	$142	55
2755 Kreitner St	0.50mi	3/2.0 (-1)	1,764 (+9%)	1mo	$229,400	$130	55
2905 Cottage Hill Rd	0.36mi	3/2.0 (-1)	1,450 (-11%)	7mo	$188,000	$130	52
2904 Cottage Hill Rd	0.40mi	3/2.0 (-1)	1,392 (-14%)	0mo	$124,500	$89	50
417 Gordonwood Ct	0.46mi	3/2.0 (-1)	1,789 (+10%)	7mo	$239,750	$134	49
868 Grant Park Dr	0.69mi	3/2.0 (-1)	1,734 (+7%)	1mo	$319,500	$184	48
2762 Marcelus Dr	0.40mi	3/2.0 (-1)	1,846 (+14%)	5mo	$225,000	$122	47
919 Grant Park Dr	0.60mi	3/2.0 (-1)	1,846 (+14%)	6mo	$290,000	$157	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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.24×
• Total profit: $9,212
• Equity at exit: $20,114

10-year hold

• IRR: 17.2%
• Equity multiple: 2.54×
• Total profit: $58,237
• Equity at exit: $11,664

Cash invested: $37,772 (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 36606

• Rents YoY: 5.1%
• Active inventory: 175
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$707
• Tax from tax record: −$85 /mo · $1,022/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $434

Break-even live

Break-even rent $1,074

Max offer price $134,900

Occupancy floor 68%

Sensitivity live

Price	-10% $511	-5% $473	+0% $434	+5% $396	+10% $358
Rent	-10% $306	-5% $370	+0% $434	+5% $498	+10% $563
Rate	-1.0pp $502	-0.5pp $469	base $434	+0.5pp $399	+1.0pp $364

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
916 Delmar Dr Mobile, AL	3.0	1.0	1100	$1,400	$1.27	15d	1	0.48mi
955 Cloverdale Dr Mobile, AL	3.0	1.5	1128	$1,125	$1.00	45d	1	0.73mi
315 Hadrian St Mobile, AL	3.0	2.0	1843	$1,800	$0.98	45d	1	0.77mi
418 Durande Dr Mobile, AL	3.0	2.0	1456	$1,350	$0.93	15d	1	0.78mi
713 Iris Ave Mobile, AL	3.0	1.0	1617	$1,300	$0.80	22d	1	0.91mi
2859 Brierwood Dr Mobile, AL	3.0	1.0	1057	$1,500	$1.42	15d	1	0.92mi
3661 Airport Blvd Mobile, AL	1.0–3.0	1.0–2.5	1187	$1,621	$1.37	15d	24	1.03mi
2861 Ralston Rd Mobile, AL	3.0	2.0	1617	$1,650	$1.02	45d	1	1.05mi
817 Hawkins St Mobile, AL	3.0	1.0	1217	$1,200	$0.99	45d	1	1.10mi
2861 Potter Dr Unit 1043844P Mobile, AL	3.0	2.0	1496	$2,492	$1.67	22d	1	1.11mi
2863 Potter Dr Unit 1043693P Mobile, AL	4.0	2.0	1496	$3,049	$2.04	15d	1	1.11mi
3060 Emogene St Mobile, AL	3.0	1.0	1200	$1,400	$1.17	15d	1	1.26mi
150 Dunn Ave Mobile, AL	3.0	2.0	1455	$1,250	$0.86	22d	1	1.27mi
1030 Montlimar Dr Mobile, AL	1.0–3.0	1.0–2.0	997	$1,509	$1.51	15d	17	1.27mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	45d	1	1.34mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	45d	1	1.35mi
2068 Victory Ct Mobile, AL	4.0	1.0	1259	$1,225	$0.97	45d	1	1.44mi
2507 Taylor Ave Mobile, AL	3.0	1.0	1230	$1,495	$1.22	15d	1	1.47mi
1411 Greenbrier Dr Mobile, AL	3.0	1.0	1069	$995	$0.93	45d	1	1.48mi

Listing history 3 events

1. 2026-06-08
   status $134,900 Pending 2 DOM
2. 2026-06-07
   remarks 693-char remark
3. 2026-06-07
   listed $134,900 Active 2 DOM

ⓘ 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: $1,022 · $85/mo
• Projected year-2 tax: $1,022 · $85/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 9/10 Extreme 7 d/yr ≥105°F today · 20 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: $19,491
• − Mortgage interest: −$7,556
• − Property taxes: −$1,022
• − Insurance: −$674
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$3,924
• Taxable income: $3,195
• Est. tax owed @ 24.0%: −$767
• After-tax cash flow: $4,445/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): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

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: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• 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

+87.4% since first listed

4 events — show timeline

• 2026-06-07 Pending — GCMLS AL
• 2026-06-06 Listed $134,900 GCMLS AL
• 2021-12-09 Sold (Public Records) $210,000 Public Records
• 2012-02-23 Sold (Public Records) $72,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,022 · +0.0% YoY. Source: county tax records.