6656 Lorena Dr · Mobile, AL 36608

$190,000

3 bd · 1.0 ba · 1,121 sqft · SingleFamily public records · 14 Days on market

Built 1961 0.28 ac lot Est $150k · 26% over ↓ 3% since listing

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Why this score? — see what drove the F 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 +13.7/30.0
• DSCR +4.1/10.0
• Rent growth +4.0/5.0
• Livability +3.8/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Highest And Best due Date Is 1/7/2026 11:59:00 PM MST. This three-bedroom, one-bath brick and vinyl home offers a great opportunity for homeowner, renovators, or anyone looking to bring a vision to life. The layout includes a comfortable living room plus an additional bonus room that provides extra flexibility, perfect for a future office, playroom, or second living area. The property does need repairs and is being sold strictly AS IS. Utilities will not be activated for inspections, and the seller will make no repairs. Buyers are encouraged to bring their skills, creativity, and due diligence to transform this home back into a true showcase. All measurements, utilities, and condition should be verified by the buyer. If you're looking for a home with solid potential, this could be the perfect opportunity! This property has an outstanding right of redemption arising from foreclosure sale dated 07/23/2025. This property is subject to the Freddie Mac First Look Initiative. The Freddie Mac First Look Initiative limits offers from being entertained during the first 20 days of listing to owner occupant and non-profit buyers. Investor offers will be responded to after the first look period ends on 01/04/2026.

Key facts

• New flooring
• New cabinets
• New appliances

Tags

• NEW ROOF
• NEW CABINETS
• NEW APPLIANCES
• NEW FLOORING
• RECESSED LIGHTING
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $12 ($146/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (24.6% below list).
• Recommended offer: $143k (24.6% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.9% in Mobile — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: John Will Elementary School (math 4% / reading 21%, grade F, #534 of 627 statewide, top 85%, 509 students, 89% FRL) — zoned schools average 89% FRL vs 67% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 12% at this address vs 27% district-wide (-14 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.2%/yr); 338 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $190k implies a 204% 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 $143,226 (24.6% below list)

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $150,214
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6656 Lorena Dr	0.00mi	3/2.0	1,121 (0%)	1mo	$190,000	$169	96
6459 Waverly Dr N	0.31mi	3/2.0	1,119 (-0%)	5mo	$180,000	$161	77
6405 Waverly Dr N	0.39mi	3/1.5	1,107 (-1%)	2mo	$85,500	$77	76
6555 Wesley Dr	0.11mi	4/1.0 (+1)	1,058 (-6%)	13mo	$82,000	$78	70
6452 Tillery Dr	0.54mi	3/1.0	1,100 (-2%)	4mo	$147,000	$134	68
505 Doby Ct	0.39mi	3/1.5	1,090 (-3%)	9mo	$142,000	$130	67
855 Waverly Dr W	0.31mi	3/1.5	1,006 (-10%)	7mo	$149,400	$149	61
1350 Athey Rd	0.45mi	4/2.0 (+1)	1,162 (+4%)	8mo	$187,500	$161	57
6558 Athey Ct	0.48mi	3/1.5	1,264 (+13%)	0mo	$157,000	$124	54
1108 Middle Ring Rd	0.46mi	3/2.0	1,222 (+9%)	10mo	$180,000	$147	51
1356 Middle Ring Rd	0.65mi	3/2.0	1,195 (+7%)	9mo	$145,000	$121	48
1358 Barker Dr E	0.57mi	3/1.0	991 (-12%)	12mo	$75,000	$76	44

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: -12.9%
• Equity multiple: 0.52×
• Total profit: $-25,426
• Equity at exit: $28,330

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,035
• Equity at exit: $16,428

Cash invested: $53,200 (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: 11.1×

Monthly cashflow live

• Estimated rent: $1,432 high
• Mortgage (P&I): −$996
• Tax from tax record: −$44 /mo · $525/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $12

Break-even live

Break-even rent $1,417

Max offer price $190,000

Occupancy floor 94%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1108 Rhett Dr Mobile, AL	3.0	1.0	864	$1,450	$1.68	43d	1	0.10mi
1165 Barker Dr W Mobile, AL	3.0	1.0	900	$950	$1.06	20d	1	0.24mi
6725 Zeigler Blvd Mobile, AL	1.0–2.0	1.0	850	$1,282	$1.51	13d	7	0.25mi
1209 Skipper Dr Mobile, AL	3.0	1.0	864	$1,150	$1.33	20d	1	0.26mi
1257 Devander Dr Mobile, AL	3.0	1.0	1144	$1,200	$1.05	43d	1	0.30mi
1253 Athey Rd Mobile, AL	3.0	2.0	1100	$1,500	$1.36	13d	1	0.34mi
1255 Amelia Ave Mobile, AL	3.0	1.0	1000	$1,400	$1.40	43d	1	0.46mi
6807 Victor Rd Mobile, AL	3.0	1.0	1100	$1,350	$1.23	43d	1	0.46mi
1305 Middle Ring Rd Mobile, AL	3.0	1.0	1100	$1,400	$1.27	43d	1	0.49mi
5904 Saint Gallen Ave S Unit 1043743P Mobile, AL	4.0	2.0	1496	$3,719	$2.49	20d	1	0.99mi
7055 Langdon Dr Mobile, AL	3.0	1.0	864	$1,100	$1.27	43d	1	1.07mi
1728 Tew Dr Mobile, AL	2.0	1.0	912	$995	$1.09	43d	1	1.16mi
912 Wendover Rd Unit 1043703P Mobile, AL	4.0	2.5	1496	$3,190	$2.13	20d	1	1.18mi
1746 Cody Rd N Mobile, AL	3.0	2.0	1152	$1,200	$1.04	13d	1	1.22mi
6601 Old Shell Rd Unit 3 Mobile, AL	2.0	1.0	950	$975	$1.03	20d	1	1.37mi
6451 Old Shell Rd Mobile, AL	1.0–2.0	1.0	750	$1,061	$1.41	43d	1	1.45mi
5751 Overlook Rd Unit A2 Mobile, AL	2.0	1.0	890	$850	$0.96	20d	1	1.46mi

Listing history 7 events

1. 2026-04-15
   status Pending
2. 2026-04-01
   listed $190,000 Active
3. 2026-01-30
   soldstatus $62,500 Closed 1223-char remark

   Show marketing remark (1223 chars)

   Highest And Best due Date Is 1/7/2026 11:59:00 PM MST. This three-bedroom, one-bath brick and vinyl home offers a great opportunity for homeowner, renovators, or anyone looking to bring a vision to life. The layout includes a comfortable living room plus an additional bonus room that provides extra flexibility, perfect for a future office, playroom, or second living area. The property does need repairs and is being sold strictly AS IS. Utilities will not be activated for inspections, and the seller will make no repairs. Buyers are encouraged to bring their skills, creativity, and due diligence to transform this home back into a true showcase. All measurements, utilities, and condition should be verified by the buyer. If you're looking for a home with solid potential, this could be the perfect opportunity! This property has an outstanding right of redemption arising from foreclosure sale dated 07/23/2025. This property is subject to the Freddie Mac First Look Initiative. The Freddie Mac First Look Initiative limits offers from being entertained during the first 20 days of listing to owner occupant and non-profit buyers. Investor offers will be responded to after the first look period ends on 01/04/2026.

4. 2026-01-14
   status Pending 1223-char remark

   Show marketing remark (1223 chars)

   Highest And Best due Date Is 1/7/2026 11:59:00 PM MST. This three-bedroom, one-bath brick and vinyl home offers a great opportunity for homeowner, renovators, or anyone looking to bring a vision to life. The layout includes a comfortable living room plus an additional bonus room that provides extra flexibility, perfect for a future office, playroom, or second living area. The property does need repairs and is being sold strictly AS IS. Utilities will not be activated for inspections, and the seller will make no repairs. Buyers are encouraged to bring their skills, creativity, and due diligence to transform this home back into a true showcase. All measurements, utilities, and condition should be verified by the buyer. If you're looking for a home with solid potential, this could be the perfect opportunity! This property has an outstanding right of redemption arising from foreclosure sale dated 07/23/2025. This property is subject to the Freddie Mac First Look Initiative. The Freddie Mac First Look Initiative limits offers from being entertained during the first 20 days of listing to owner occupant and non-profit buyers. Investor offers will be responded to after the first look period ends on 01/04/2026.

5. 2025-12-15
   listed $49,900 Active 1223-char remark

   Show marketing remark (1223 chars)

   Highest And Best due Date Is 1/7/2026 11:59:00 PM MST. This three-bedroom, one-bath brick and vinyl home offers a great opportunity for homeowner, renovators, or anyone looking to bring a vision to life. The layout includes a comfortable living room plus an additional bonus room that provides extra flexibility, perfect for a future office, playroom, or second living area. The property does need repairs and is being sold strictly AS IS. Utilities will not be activated for inspections, and the seller will make no repairs. Buyers are encouraged to bring their skills, creativity, and due diligence to transform this home back into a true showcase. All measurements, utilities, and condition should be verified by the buyer. If you're looking for a home with solid potential, this could be the perfect opportunity! This property has an outstanding right of redemption arising from foreclosure sale dated 07/23/2025. This property is subject to the Freddie Mac First Look Initiative. The Freddie Mac First Look Initiative limits offers from being entertained during the first 20 days of listing to owner occupant and non-profit buyers. Investor offers will be responded to after the first look period ends on 01/04/2026.

6. 2007-06-26
   soldstatus $250,000
7. 2006-04-03
   soldstatus $196,470

ⓘ 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: $525 · $44/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$254/yr (+$21/mo · 48.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $17,187
• − Mortgage interest: −$10,643
• − Property taxes: −$525
• − Insurance: −$950
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − Depreciation: −$5,527
• Taxable loss: −$3,208
• Est. tax savings @ 24.0%: +$770
• After-tax cash flow: $916/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): 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

-3.3% since first listed

7 events — show timeline

• 2026-04-15 Pending — GCMLS AL
• 2026-04-01 Listed $190,000 GCMLS AL
• 2026-01-30 Sold (MLS) $62,500 GCMLS AL
• 2026-01-14 Pending — GCMLS AL
• 2025-12-15 Listed $49,900 GCMLS AL
• 2007-06-26 Sold (Public Records) $250,000 Public Records
• 2006-04-03 Sold (Public Records) $196,470 Public Records

Property tax history

+3.4%/yr

Latest (2025): $525 · -1.4% YoY. Source: county tax records.