2308 Hillwood Dr S · Mobile, AL 36605

$75,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 50 Days on market

Built 1989 0.34 ac lot $104/sqft · 37% below area Est $119k · 37% 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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.9/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This quaint 2-bedroom, 1-bath cottage is situated above a double garage and features essential amenities, including central heating and air conditioning, laundry connections, a covered porch, and a spacious lot. With some minor renovations, this property has the potential to provide an ideal living experience characterized by comfort and simplicity. Its convenient location, just a few miles from Interstate 10 and the new downtown Airport, makes it suitable for first-time homebuyers or as a rental investment. The property is being offered in its current condition, "SOLD AS IS WHERE IS"

Key facts

• Covered front porch
• Double garage
• 0.34 acre lot

Tags

• DOUBLE GARAGE
• COVERED FRONT PORCH
• LARGE PICTURESQUE YARD
• QUICK ACCESS TO INTERSTATE

Property features AI

Finance

• Other: Subdivision: Edgewood Park

Exterior

• Parking: Driveway; Garage faces side
• Utilities: Cable available; Electricity available (110V and 220V); Natural gas available; Phone available; Public sewer; Public water
• Home design: Single family residence; Residential property; Built in 1989; Pillar/post/pier foundation; Shingle roof
• Construction: Asbestos construction materials; No other structures listed; No accessibility features listed
• Exterior features: Fenced yard with privacy fencing; Other exterior features; View

Interior

• Kitchen: White cabinets; Eat-in kitchen; Gas range; Refrigerator; Dishwasher
• Bedrooms: 2 bedrooms
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Other
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($893 rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: Dr Robert W Gilliard Elementary (math 8% / reading 23%, grade F, #503 of 627 statewide, top 80%, 780 students, 94% FRL); Ben C Rain High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 589 students, 90% FRL) — zoned schools average 92% FRL vs 67% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 27% district-wide (-18 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 (+8.3%/yr); 139 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 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 $50k; list at $75k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $72,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.85%
• DSCR: 1.57
• GRM: 7.0

CMA / ARV

• ARV (median comp): $119,010
• List price: $75,000
• Delta: -36.98%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.33×
• Total profit: $6,880
• Equity at exit: $11,183

10-year hold

• IRR: 21.0%
• Equity multiple: 3.18×
• Total profit: $45,867
• Equity at exit: $6,485

Cash invested: $21,000 (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: 7.0×

Monthly cashflow live

• Estimated rent: $893 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$56 /mo · $668/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $225

Break-even live

Break-even rent $608

Max offer price $75,000

Occupancy floor 70%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 Neshota Dr Apt 19 Mobile, AL	2.0	1.0	750	$800	$1.07	43d	1	1.09mi
1601 Neshota Dr Mobile, AL	2.0–3.0	1.0	815	$735	$0.90	13d	7	1.09mi
2314 Gill Rd Mobile, AL	1.0	1.0	572	$675	$1.18	43d	1	1.32mi

Listing history 22 events

1. 2026-06-18
   days on market $75,000 Active 50 DOM
2. 2026-06-17
   days on market $75,000 Active 49 DOM
3. 2026-06-16
   days on market $75,000 Active 48 DOM
4. 2026-06-15
   days on market $75,000 Active 47 DOM
5. 2026-06-14
   days on market $75,000 Active 45 DOM
6. 2026-06-13
   days on market $75,000 Active 44 DOM
7. 2026-06-10
   days on market $75,000 Active 42 DOM
8. 2026-06-09
   days on market $75,000 Active 41 DOM
9. 2026-06-08
   days on market $75,000 Active 40 DOM
10. 2026-06-07
    days on market $75,000 Active 39 DOM
11. 2026-06-05
    days on market $75,000 Active 36 DOM
12. 2026-06-03
    days on market $75,000 Active 35 DOM
13. 2026-06-02
    days on market $75,000 Active 34 DOM
14. 2026-06-01
    days on market $75,000 Active 33 DOM
15. 2026-05-31
    days on market $75,000 Active 32 DOM
16. 2026-05-30
    days on market $75,000 Active 31 DOM
17. 2026-04-29
    listed $75,000 Active 401-char remark
18. 2026-01-05
    soldstatus $50,000
19. 2025-12-30
    soldstatus $50,000 Closed 601-char remark

    Show marketing remark (601 chars)

    This quaint 2-bedroom, 1-bath cottage is situated above a double garage and features essential amenities, including central heating and air conditioning, laundry connections, a covered porch, and a spacious lot. With some minor renovations, this property has the potential to provide an ideal living experience characterized by comfort and simplicity. Its convenient location, just a few miles from Interstate 10 and the new downtown Airport, makes it suitable for first-time homebuyers or as a rental investment. The property is being offered in its current condition, "SOLD AS IS WHERE IS"

20. 2025-12-18
    status Pending 601-char remark

    Show marketing remark (601 chars)

    This quaint 2-bedroom, 1-bath cottage is situated above a double garage and features essential amenities, including central heating and air conditioning, laundry connections, a covered porch, and a spacious lot. With some minor renovations, this property has the potential to provide an ideal living experience characterized by comfort and simplicity. Its convenient location, just a few miles from Interstate 10 and the new downtown Airport, makes it suitable for first-time homebuyers or as a rental investment. The property is being offered in its current condition, "SOLD AS IS WHERE IS"

21. 2025-12-16
    listed $65,000 Active 601-char remark

    Show marketing remark (601 chars)

    This quaint 2-bedroom, 1-bath cottage is situated above a double garage and features essential amenities, including central heating and air conditioning, laundry connections, a covered porch, and a spacious lot. With some minor renovations, this property has the potential to provide an ideal living experience characterized by comfort and simplicity. Its convenient location, just a few miles from Interstate 10 and the new downtown Airport, makes it suitable for first-time homebuyers or as a rental investment. The property is being offered in its current condition, "SOLD AS IS WHERE IS"

22. 2006-05-24
    soldstatus $46,000

ⓘ 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: $668 · $56/mo
• Projected year-2 tax: $668 · $56/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 5/10 Major FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 2/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,711
• − Mortgage interest: −$4,201
• − Property taxes: −$668
• − Insurance: −$375
• − Repairs & maintenance: −$857
• − Management: −$857
• − Depreciation: −$2,182
• Taxable income: $1,571
• Est. tax owed @ 24.0%: −$377
• After-tax cash flow: $2,322/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

+63.0% since first listed

6 events — show timeline

• 2026-04-29 Listed $75,000 GCMLS AL
• 2026-01-05 Sold (Public Records) $50,000 Public Records
• 2025-12-30 Sold (MLS) $50,000 GCMLS AL
• 2025-12-18 Pending — GCMLS AL
• 2025-12-16 Listed $65,000 GCMLS AL
• 2006-05-24 Sold (Public Records) $46,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $668 · +2.9% YoY. Source: county tax records.