3015 Cedar Crescent Dr · Mobile, AL 36605

$123,000

3 bd · 1.0 ba · 1,484 sqft · SingleFamily public records · 145 Days on market

Built 1910 1.61 ac lot $83/sqft · at area comps Est $122k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• ARV discount +7.1/15.0
• 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

Welcome to this spacious 1,450+ sq. ft. corner-lot home situated on approximately 1.6 acres, offering room to spread out and endless potential. Featuring a durable metal roof, this property is a great opportunity for buyers looking to add their personal touch. Enter through the screened, covered patio into a welcoming living room. An adjacent den flows seamlessly into the kitchen, creating an open and functional layout ideal for everyday living and entertaining. The kitchen offers abundant cabinet space, perfect for storage of cookware and small appliances. Two bedrooms and a full guest bath are conveniently located off the living room, while the primary suite is privately tucked away with access from the den. The primary bedroom includes two large closets and a second full bathroom. Outside, the expansive property includes a two-car garage plus a double carport, providing ample parking and storage. The home is all electric; natural gas was previously connected but has not been used in recent years. This home is being sold AS IS, with no repairs to be made by the seller. Buyer and buyer’s agent to verify all measurements. The property will require some TLC to reach its full potential. Please use caution near the pool table in the den, as there is a known weak area in the flooring. Contact your favorite agent today to see this one! Listing agent is related to the seller through marriage. Listed by Crimson Jackson IXL Real Estate 251-802-4263

Key facts

• Corner-lot home
• Metal roof
• Two large closets

Tags

• CORNER-LOT HOME
• METAL ROOF
• SCREENED COVERED PATIO
• OPEN FUNCTIONAL LAYOUT
• ABUNDANT CABINET SPACE
• TWO LARGE CLOSETS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $108k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• At $1,641/mo this rent would consume 45% of the median local household income ($44k/yr) (locally 1521% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 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 + 8.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 145 days — a 12% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 145 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.33% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.70%
• DSCR: 1.83
• GRM: 6.2

CMA / ARV

• ARV (median comp): $122,027
• List price: $123,000
• Delta: 0.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1853 Brill Cir	0.59mi	3/1.5	1,492 (+0%)	10mo	$130,000	$87	62
1306 North Dr	0.17mi	3/2.0	1,602 (+8%)	18mo	$164,000	$102	60
3067 Bay Crescent Dr	0.57mi	3/2.0	1,592 (+7%)	3mo	$130,000	$82	55
3016 Curry Dr W	0.41mi	4/1.0 (+1)	1,353 (-9%)	10mo	$112,000	$83	53
1658 Gulfdale Dr	0.46mi	3/2.0	1,375 (-7%)	14mo	$166,224	$121	50
2907 Gulfdale Ct	0.54mi	4/2.0 (+1)	1,400 (-6%)	10mo	$180,750	$129	48
1808 Gulfdale Dr	0.63mi	4/2.0 (+1)	1,537 (+4%)	12mo	$215,000	$140	46
1601 Cedar Downs Dr	0.66mi	4/2.0 (+1)	1,512 (+2%)	18mo	$185,000	$122	42
3470 Bay Front Rd	0.73mi	3/1.0	1,642 (+11%)	8mo	$190,000	$116	42
1512 Lartigue Ave N	0.55mi	4/2.0 (+1)	1,550 (+4%)	21mo	$162,000	$105	41
1719 Gulfdale Dr	0.49mi	3/2.0	1,269 (-14%)	15mo	$148,000	$117	36
3021 Pickell Dr	0.68mi	4/1.0 (+1)	1,269 (-14%)	19mo	$150,000	$118	24

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: 15.7%
• Equity multiple: 1.66×
• Total profit: $22,900
• Equity at exit: $18,340

10-year hold

• IRR: 27.6%
• Equity multiple: 4.00×
• Total profit: $103,311
• Equity at exit: $10,635

Cash invested: $34,440 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,641 high
• Mortgage (P&I): −$645
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $537

Break-even live

Break-even rent $961

Max offer price $123,000

Occupancy floor 62%

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1326 Doyle Ave Mobile, AL	3.0	2.0	1518	$1,750	$1.15	13d	1	0.23mi
1854 Jacob Dr Unit Jacob Dr unit Mobile, AL	4.0	2.0	1700	$1,950	$1.15	44d	1	0.71mi
1806 Gill Rd Mobile, AL	3.0	2.0	1360	$1,250	$0.92	21d	1	0.74mi
1258 E Charmaine Cir Mobile, AL	3.0	1.0	1071	$1,350	$1.26	21d	1	1.09mi
3910 W Charmaine Cir Mobile, AL	3.0	1.0	1400	$1,200	$0.86	44d	1	1.17mi
1815 Ogburn Ave Unit B Mobile, AL	2.0	1.0	900	$900	$1.00	21d	1	1.17mi
3917 Bay Front Rd Mobile, AL	3.0	2.0	1583	$2,650	$1.67	21d	1	1.19mi

Listing history 18 events

1. 2026-06-18
   days on market $123,000 Active 145 DOM
2. 2026-06-17
   days on market $123,000 Active 144 DOM
3. 2026-06-16
   days on market $123,000 Active 143 DOM
4. 2026-06-15
   days on market $123,000 Active 142 DOM
5. 2026-06-14
   days on market $123,000 Active 140 DOM
6. 2026-06-13
   days on market $123,000 Active 139 DOM
7. 2026-06-10
   days on market $123,000 Active 137 DOM
8. 2026-06-09
   days on market $123,000 Active 136 DOM
9. 2026-06-09
   price $123,000 Active 135 DOM
10. 2026-06-08
    days on market $130,000 Active 135 DOM
11. 2026-06-07
    days on market $130,000 Active 134 DOM
12. 2026-06-05
    days on market $130,000 Active 131 DOM
13. 2026-06-03
    days on market $130,000 Active 130 DOM
14. 2026-06-02
    days on market $130,000 Active 129 DOM
15. 2026-06-01
    days on market $130,000 Active 128 DOM
16. 2026-05-31
    days on market $130,000 Active 127 DOM
17. 2026-05-30
    days on market $130,000 Active 126 DOM
18. 2026-01-24
    listed $130,000 Active 1488-char remark

    Show marketing remark (1488 chars)

    Welcome to this spacious 1,450+ sq. ft. corner-lot home situated on approximately 1.6 acres, offering room to spread out and endless potential. Featuring a durable metal roof, this property is a great opportunity for buyers looking to add their personal touch. Enter through the screened, covered patio into a welcoming living room. An adjacent den flows seamlessly into the kitchen, creating an open and functional layout ideal for everyday living and entertaining. The kitchen offers abundant cabinet space, perfect for storage of cookware and small appliances. Two bedrooms and a full guest bath are conveniently located off the living room, while the primary suite is privately tucked away with access from the den. The primary bedroom includes two large closets and a second full bathroom. Outside, the expansive property includes a two-car garage plus a double carport, providing ample parking and storage. The home is all electric; natural gas was previously connected but has not been used in recent years. This home is being sold AS IS, with no repairs to be made by the seller. Buyer and buyer’s agent to verify all measurements. The property will require some TLC to reach its full potential. Please use caution near the pool table in the den, as there is a known weak area in the flooring. Contact your favorite agent today to see this one! Listing agent is related to the seller through marriage. Listed by Crimson Jackson IXL Real Estate 251-802-4263

ⓘ 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: $758 · $63/mo
• Projected year-2 tax: $758 · $63/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,691
• − Mortgage interest: −$6,890
• − Property taxes: −$758
• − Insurance: −$615
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$3,578
• Taxable income: $4,699
• Est. tax owed @ 24.0%: −$1,128
• After-tax cash flow: $5,314/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

1 event — show timeline

• 2026-01-24 Listed $130,000 GCMLS AL

Property tax history

-6.7%/yr

Latest (2025): $758 · +1.7% YoY. Source: county tax records.