362 ADLER Ave · Mobile, AL 36604

$160,000

3 bd · 2.0 ba · 1,597 sqft · SingleFamily public records · 206 Days on market

Built 1940 10,875 sqft lot $100/sqft · 14% below area Est $186k · 14% 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 +26.1/30.0
• ARV discount +13.8/15.0
• DSCR +8.8/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming cottage-style home nestled in Battery Heights, just moments from downtown Mobile. This 3 bedroom, 2 bath residence exudes character with original tile floors, doors, and a beautifully painted fireplace that serves as the heart of the living room. Upon entering, you'll be greeted by a light-filled and inviting living area that seamlessly flows into the dining room and kitchen. A hallway leads to all 3 bedrooms and the hall bath, providing privacy and comfort for all. Step into the den area, which opens to a deck overlooking the fully privacy-fenced backyard--perfect for relaxing or entertaining outdoors. The fencing is less than three years old, providing security and peace of mind. Other recent updates include a new roof (3 years old) and HVAC system (4 years old), as well as new LVP flooring throughout the home (4 years old). Included with the property is a swing set, enhancing the family-friendly appeal of the backyard. Please note that the large chicken coop will not be included with the sale. Don't miss the opportunity to own this delightful home with it's blend of historic charm and modern comforts. Schedule your showing today and envision yourself living in this wonderful Battery Heights retreat! Buyer to verify all information during due diligence.

Key facts

• Painted fireplace
• Original tile floors
• New roof

Tags

• COTTAGE STYLE HOME
• ORIGINAL TILE FLOORS
• PAINTED FIREPLACE
• PRIVACY FENCED BACKYARD
• NEW ROOF
• NEW HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $402 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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 (+3.8%/yr); 93 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 33% of the median local income ($66k/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 $1k of loan paydown is wiped out by about $5k 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 + 3.8% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 206 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago 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 $130k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 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 1940 — 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: 1.15% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.77%
• DSCR: 1.48
• GRM: 7.3

CMA / ARV

• ARV (median comp): $186,020
• List price: $160,000
• Delta: -13.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
451 Wisconsin Ave	0.16mi	3/2.0	1,512 (-5%)	1mo	$98,000	$65	83
271 Park Ter	0.24mi	2/2.5 (-1)	1,710 (+7%)	3mo	$289,500	$169	68
1461 Brown St	0.57mi	3/2.0	1,675 (+5%)	2mo	$260,000	$155	64
1561 Bruister St	0.41mi	2/2.0 (-1)	1,504 (-6%)	3mo	$330,000	$219	64
1747 Hunter Ave	0.43mi	3/2.0	1,788 (+12%)	0mo	$357,000	$200	60
1367 Brown St	0.61mi	2/2.0 (-1)	1,700 (+6%)	3mo	$293,000	$172	53
1253 Gorgas St	0.74mi	2/2.0 (-1)	1,666 (+4%)	1mo	$22,000	$13	52
1809 Calmes St	0.57mi	4/2.0 (+1)	1,420 (-11%)	0mo	$45,000	$32	50
18 Hannon Ave	0.75mi	3/1.0	1,472 (-8%)	2mo	$253,650	$172	46
55 Monterey St S	0.54mi	2/2.0 (-1)	1,366 (-14%)	1mo	$260,000	$190	45
66 Houston St	0.66mi	3/2.0	1,820 (+14%)	3mo	$355,000	$195	44
21 HOUSTON St	0.75mi	2/1.0 (-1)	1,375 (-14%)	1mo	$180,000	$131	32

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,131
• Equity at exit: $23,857

10-year hold

• IRR: 11.0%
• Equity multiple: 1.89×
• Total profit: $39,999
• Equity at exit: $13,834

Cash invested: $44,800 (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 36604

• Rents YoY: 3.8%
• Active inventory: 93
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$839
• Tax from tax record: −$145 /mo · $1,736/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $402

Break-even live

Break-even rent $1,330

Max offer price $160,000

Occupancy floor 73%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	43d	1	0.32mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	13d	1	0.42mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	13d	1	0.48mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	43d	1	0.51mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	43d	1	0.63mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	43d	1	0.68mi
1566 Dauphin St Unit Back Carriage House Mobile, AL	3.0	1.0	1300	$1,200	$0.92	43d	1	0.79mi
561 Dauphin Island Pkwy Mobile, AL	4.0	2.0	1389	$1,050	$0.76	43d	1	0.83mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	13d	1	0.84mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	13d	1	0.86mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	43d	1	0.88mi
182 Williams St Unit 1043570P Mobile, AL	3.0	1.0	1399	$2,476	$1.77	13d	1	0.92mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	20d	1	0.92mi
209 S Fulton St Mobile, AL	2.0	1.5	1255	$1,750	$1.39	20d	1	0.95mi
57 N Ann St Unit 1043453P Mobile, AL	2.0	2.0	1065	$2,015	$1.89	20d	1	1.05mi
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	43d	1	1.09mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	43d	1	1.10mi
129 Shell Road Pl Unit 1043713P Mobile, AL	4.0	2.0	1496	$3,389	$2.27	20d	1	1.11mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	20d	1	1.13mi
107 Michael Donald Ave Unit 1043461P Mobile, AL	4.0	3.5	2195	$3,962	$1.81	13d	1	1.15mi
814 S Broad St Unit 1043690P Mobile, AL	3.0	2.0	1991	$3,562	$1.79	13d	1	1.17mi
1321 SpringHill Ave Unit B Mobile, AL	2.0	1.0	2006	$950	$0.47	43d	1	1.20mi
618 Clarke St Mobile, AL	3.0	1.0	1427	$1,200	$0.84	43d	1	1.22mi
615 Mohawk St Mobile, AL	3.0	1.0	1172	$1,500	$1.28	43d	1	1.22mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	43d	1	1.34mi
811 Gorgas St Mobile, AL	4.0	1.0	1300	$1,310	$1.01	43d	1	1.35mi
412 Pinehill Dr Mobile, AL	2.0	2.0	2000	$2,450	$1.23	13d	1	1.42mi
2068 Victory Ct Mobile, AL	4.0	1.0	1259	$1,225	$0.97	43d	1	1.43mi
305 Indian Creek Dr E Unit 1043809P Mobile, AL	3.0	2.5	1496	$3,985	$2.66	13d	1	1.45mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,450	$1.94	43d	1	1.50mi

Listing history 30 events

1. 2026-06-18
   days on market $160,000 Active 206 DOM
2. 2026-06-17
   days on market $160,000 Active 205 DOM
3. 2026-06-16
   days on market $160,000 Active 204 DOM
4. 2026-06-15
   days on market $160,000 Active 203 DOM
5. 2026-06-14
   days on market $160,000 Active 201 DOM
6. 2026-06-13
   days on market $160,000 Active 200 DOM
7. 2026-06-10
   days on market $160,000 Active 198 DOM
8. 2026-06-09
   days on market $160,000 Active 197 DOM
9. 2026-06-08
   days on market $160,000 Active 196 DOM
10. 2026-06-07
    days on market $160,000 Active 195 DOM
11. 2026-06-05
    days on market $160,000 Active 192 DOM
12. 2026-06-03
    days on market $160,000 Active 191 DOM
13. 2026-06-02
    days on market $160,000 Active 190 DOM
14. 2026-06-01
    days on market $160,000 Active 189 DOM
15. 2026-05-31
    days on market $160,000 Active 188 DOM
16. 2026-05-30
    days on market $160,000 Active 187 DOM
17. 2026-03-17
    status Active 1300-char remark

    Show marketing remark (1300 chars)

    Welcome to this charming cottage-style home nestled in Battery Heights, just moments from downtown Mobile. This 3 bedroom, 2 bath residence exudes character with original tile floors, doors, and a beautifully painted fireplace that serves as the heart of the living room. Upon entering, you'll be greeted by a light-filled and inviting living area that seamlessly flows into the dining room and kitchen. A hallway leads to all 3 bedrooms and the hall bath, providing privacy and comfort for all. Step into the den area, which opens to a deck overlooking the fully privacy-fenced backyard--perfect for relaxing or entertaining outdoors. The fencing is less than three years old, providing security and peace of mind. Other recent updates include a new roof (3 years old) and HVAC system (4 years old), as well as new LVP flooring throughout the home (4 years old). Included with the property is a swing set, enhancing the family-friendly appeal of the backyard. Please note that the large chicken coop will not be included with the sale. Don't miss the opportunity to own this delightful home with it's blend of historic charm and modern comforts. Schedule your showing today and envision yourself living in this wonderful Battery Heights retreat! Buyer to verify all information during due diligence.

18. 2026-02-17
    status Pending 1300-char remark

    Show marketing remark (1300 chars)

    Welcome to this charming cottage-style home nestled in Battery Heights, just moments from downtown Mobile. This 3 bedroom, 2 bath residence exudes character with original tile floors, doors, and a beautifully painted fireplace that serves as the heart of the living room. Upon entering, you'll be greeted by a light-filled and inviting living area that seamlessly flows into the dining room and kitchen. A hallway leads to all 3 bedrooms and the hall bath, providing privacy and comfort for all. Step into the den area, which opens to a deck overlooking the fully privacy-fenced backyard--perfect for relaxing or entertaining outdoors. The fencing is less than three years old, providing security and peace of mind. Other recent updates include a new roof (3 years old) and HVAC system (4 years old), as well as new LVP flooring throughout the home (4 years old). Included with the property is a swing set, enhancing the family-friendly appeal of the backyard. Please note that the large chicken coop will not be included with the sale. Don't miss the opportunity to own this delightful home with it's blend of historic charm and modern comforts. Schedule your showing today and envision yourself living in this wonderful Battery Heights retreat! Buyer to verify all information during due diligence.

19. 2025-10-26
    listed $160,000 Active 1300-char remark

    Show marketing remark (1300 chars)

    Welcome to this charming cottage-style home nestled in Battery Heights, just moments from downtown Mobile. This 3 bedroom, 2 bath residence exudes character with original tile floors, doors, and a beautifully painted fireplace that serves as the heart of the living room. Upon entering, you'll be greeted by a light-filled and inviting living area that seamlessly flows into the dining room and kitchen. A hallway leads to all 3 bedrooms and the hall bath, providing privacy and comfort for all. Step into the den area, which opens to a deck overlooking the fully privacy-fenced backyard--perfect for relaxing or entertaining outdoors. The fencing is less than three years old, providing security and peace of mind. Other recent updates include a new roof (3 years old) and HVAC system (4 years old), as well as new LVP flooring throughout the home (4 years old). Included with the property is a swing set, enhancing the family-friendly appeal of the backyard. Please note that the large chicken coop will not be included with the sale. Don't miss the opportunity to own this delightful home with it's blend of historic charm and modern comforts. Schedule your showing today and envision yourself living in this wonderful Battery Heights retreat! Buyer to verify all information during due diligence.

20. 2025-07-18
    listed $160,000 Active
21. 2025-02-27
    status Active
22. 2025-02-24
    historical Active Under Contract
23. 2025-01-25
    status Active
24. 2024-12-31
    historical Active Under Contract
25. 2024-11-26
    price $175,000
26. 2024-09-21
    price $183,000
27. 2024-07-15
    price $185,000
28. 2024-07-08
    listed $190,000 Active
29. 2021-07-09
    soldstatus $130,000
30. 2021-07-02
    soldstatus $130,000

ⓘ 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: $1,736 · $145/mo
• Projected year-2 tax: $1,736 · $145/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 · 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: $22,063
• − Mortgage interest: −$8,962
• − Property taxes: −$1,736
• − Insurance: −$800
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − Depreciation: −$4,655
• Taxable income: $2,380
• Est. tax owed @ 24.0%: −$571
• After-tax cash flow: $4,254/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): 8,836
• Household income: $66,357
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 452.0

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 51% Black 42% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 2%
• Foreign-born: 2% · Canada, China
• 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: ▼ -143.27%
• Current HPI: 205.7241
• Rent YoY: ▲ 3.78%
• 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

+23.1% since first listed

14 events — show timeline

• 2026-03-17 Relisted — BCAR
• 2026-02-17 Pending — BCAR
• 2025-10-26 Listed $160,000 BCAR
• 2025-07-18 Listed $160,000 BCAR
• 2025-02-27 Relisted — BCAR
• 2025-02-24 Contingent — BCAR
• 2025-01-25 Relisted — BCAR
• 2024-12-31 Contingent — BCAR
• 2024-11-26 Price Changed $175,000 BCAR
• 2024-09-21 Price Changed $183,000 BCAR
• 2024-07-15 Price Changed $185,000 BCAR
• 2024-07-08 Listed $190,000 BCAR
• 2021-07-09 Sold (Public Records) $130,000 Public Records
• 2021-07-02 Sold (MLS) $130,000 GCMLS AL

Property tax history

+13.1%/yr

Latest (2025): $1,736 · +2.1% YoY. Source: county tax records.