2611 Serigny Dr · Mobile, AL 36605

$100,000

4 bd · 1.0 ba · 1,288 sqft · SingleFamily public records · 166 Days on market

Built 1980 $78/sqft · 12% above area Est $87k · 16% over ↓ 34% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 4 bdrm 1 bath home located in Morningside area. Great roof, Hvac system and New tile flooring. Great tenant is currently occupying home and willing to remain. Great Investment property. Won't be on the market long. Call today about inquiries.

Key facts

• New tile flooring
• Roof
• Morningside area

Tags

• MORNINGSIDE AREA
• ROOF
• HVAC SYSTEM
• NEW TILE FLOORING
• INVESTMENT PROPERTY

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $608 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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 (+8.3%/yr); 139 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 42% of the median local income ($44k/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 $691 of loan paydown is wiped out by about $3k 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 + 8.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $100k implies a 52% gain — meaningful room to come down on a strong offer.

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 $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.54% ✓
• Cap rate: 13.59%
• Cash-on-cash: 26.07%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (median comp): $86,559
• List price: $100,000
• Delta: 15.53%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 Faure Dr E	0.16mi	4/1.0	1,288 (0%)	1mo	$85,000	$66	92
2707 Faure Dr S	0.17mi	4/1.0	1,244 (-3%)	1mo	$93,000	$75	85
1663 Darwood Dr	0.23mi	4/1.5	1,350 (+5%)	11mo	$95,000	$70	70
1609 Darwood Dr	0.45mi	3/1.0 (-1)	1,248 (-3%)	2mo	$76,000	$61	67
2354 Octavia Dr S	0.57mi	3/1.5 (-1)	1,300 (+1%)	5mo	$55,000	$42	61
1611 Darwood Dr	0.44mi	4/1.5	1,148 (-11%)	5mo	$112,500	$98	55
1575 Marengo Dr	0.61mi	3/1.0 (-1)	1,342 (+4%)	9mo	$104,000	$77	52
2606 Eldorado Dr	0.31mi	3/1.5 (-1)	1,131 (-12%)	11mo	$75,000	$66	49
2365 Dog River Dr N	0.56mi	4/2.0	1,400 (+9%)	8mo	$65,000	$46	48
2518 Greenlawn Dr	0.50mi	3/1.0 (-1)	1,120 (-13%)	6mo	$60,000	$54	45
2331 S Dog River Dr	0.71mi	3/1.0 (-1)	1,366 (+6%)	8mo	$167,000	$122	45
2653 Morningside Dr	0.68mi	3/1.5 (-1)	1,216 (-6%)	12mo	$90,313	$74	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 25.0%
• Equity multiple: 2.09×
• Total profit: $30,653
• Equity at exit: $14,910

10-year hold

• IRR: 35.6%
• Equity multiple: 5.05×
• Total profit: $113,528
• Equity at exit: $8,646

Cash invested: $28,000 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $514/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $608

Break-even live

Break-even rent $771

Max offer price $100,000

Occupancy floor 56%

Sensitivity live

Price	-10% $665	-5% $637	+0% $608	+5% $580	+10% $552
Rent	-10% $487	-5% $547	+0% $608	+5% $669	+10% $730
Rate	-1.0pp $659	-0.5pp $634	base $608	+0.5pp $582	+1.0pp $556

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2665 S Faure Dr Mobile, AL	4.0	1.0	1817	$1,514	$0.83	21d	1	0.13mi
2359 Vermillion Dr Mobile, AL	3.0	1.0	1064	$895	$0.84	21d	1	0.58mi
1466 Darwood Dr Mobile, AL	3.0	1.5	1053	$1,400	$1.33	44d	1	0.61mi
1411 Greenbrier Dr Mobile, AL	3.0	1.0	1069	$995	$0.93	44d	1	0.74mi
2456 McLaughlin Dr Mobile, AL	3.0	1.0	1405	$1,300	$0.93	44d	1	0.87mi
2255 Dog River Ct Unit 1043454P Mobile, AL	4.0	2.0	1851	$2,890	$1.56	21d	1	0.88mi
2115 Barron Pl Mobile, AL	3.0	1.0	1000	$1,200	$1.20	44d	1	1.23mi
1601 Neshota Dr Mobile, AL	2.0–3.0	1.0	815	$825	$1.01	14d	7	1.47mi
1601 Neshota Dr Apt 86 Mobile, AL	3.0	1.0	880	$900	$1.02	44d	1	1.47mi

Listing history 7 events

1. 2026-06-03
   days on market $100,000 Active 166 DOM
2. 2026-06-02
   days on market $100,000 Active 165 DOM
3. 2026-06-01
   days on market $100,000 Active 164 DOM
4. 2026-05-31
   days on market $100,000 Active 163 DOM
5. 2026-05-30
   days on market $100,000 Active 162 DOM
6. 2026-03-12
   soldstatus $66,000
7. 2025-12-19
   listed $100,000 Active 247-char remark

   Show marketing remark (247 chars)

   Nice 4 bdrm 1 bath home located in Morningside area. Great roof, Hvac system and New tile flooring. Great tenant is currently occupying home and willing to remain. Great Investment property. Won't be on the market long. Call today about inquiries.

ⓘ 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: $514 · $43/mo
• Projected year-2 tax: $514 · $43/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 3/10 Moderate
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,489
• − Mortgage interest: −$5,602
• − Property taxes: −$514
• − Insurance: −$500
• − Repairs & maintenance: −$1,479
• − Management: −$1,479
• − Depreciation: −$2,909
• Taxable income: $6,006
• Est. tax owed @ 24.0%: −$1,441
• After-tax cash flow: $5,858/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

-34.0% since first listed

2 events — show timeline

• 2026-03-12 Sold (Public Records) $66,000 Public Records
• 2025-12-19 Listed $100,000 ForSaleByOwner.com

Property tax history

-1.7%/yr

Latest (2025): $514 · +6.9% YoY. Source: county tax records.