1111 Texas St · Mobile, AL 36604

$225,000

3 bd · 2.0 ba · 1,668 sqft · SingleFamily public records · 369 Days on market

Built 1920 4,935 sqft lot Est $287k · 22% under ↓ 25% since listing

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Come enjoy Southern porch life in this Oakleigh Garden District home! This 3/2 was completely remodeled and is turnkey ready. Lots of charm of yesteryear, yet super low maintenance. Formal living and dining rooms w/ high ceilings and lots of light and charm. The home has modern updates including a new kitchen with stone countertops, new baths and mechanicals. Freshly painted inside and out, plus gleaming wood floors. The 3 bedrooms are very flexible - with the primary suite located in the back and very private. Home is located a couple blocks away from Washington Square, restaurants, downtown and close to I-10 and Gulf Coast beaches. Home is also near the new international airport. * * Al

Key facts

• New kitchen
• New baths
• Completely remodeled

Tags

• COMPLETELY REMODELED
• NEW KITCHEN
• STONE COUNTERTOPS
• NEW BATHS
• GLEAMING WOOD FLOORS
• PRIMARY SUITE

Property features AI

Exterior

• Parking: Driveway parking for 2 vehicles
• Utilities: Cable available; Electricity available (110 volts); Natural gas available; Phone available; Underground utilities; Sewer: other
• Home design: Single-family residence; Located in Oakleigh Historical District
• Construction: Built in 1920; Wood siding; Wood-framed windows; Composition/shingle roof; Block, brick/mortar, and pier/pillar foundation
• Exterior features: Wood backyard fencing; Property offers a view

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Crown molding; 9-foot (or taller) main-level ceilings; Separate dining room; Eat-in kitchen with white cabinets; Kitchen island; Breakfast bar; Stone counters

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $70 ($839/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 $189k (16.0% below list).
• Recommended offer: $189k (16.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: Murphy High School (math 10% / reading 19%, grade F, #220 of 305 statewide, top 77%, 1,254 students, 66% FRL) — zoned schools at 66% FRL track the district average.
• Zoned-school proficiency averages 14% at this address vs 27% district-wide (-12 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 (+3.8%/yr); 93 active listings in the ZIP; 19 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 34% 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 369 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $74k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $188,993 (16.0% below list)

Questions for the listing agent

1. It's been on market 369 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $286,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
958 Elmira St	0.25mi	3/1.0	1,600 (-4%)	6mo	$64,000	$40	72
402 Chatham St	0.17mi	2/2.0 (-1)	1,602 (-4%)	11mo	$215,000	$134	71
955 Charleston St	0.44mi	2/2.0 (-1)	1,730 (+4%)	1mo	$160,000	$92	67
1123 Palmetto St	0.26mi	3/2.0	1,854 (+11%)	6mo	$358,000	$193	64
361 Regina Ave	0.22mi	3/2.0	1,860 (+12%)	8mo	$265,000	$142	64
350 Broad St S	0.40mi	3/2.5	1,731 (+4%)	13mo	$300,000	$173	62
308 S Ann St	0.42mi	2/2.0 (-1)	1,717 (+3%)	13mo	$329,000	$192	60
1367 Brown St	0.69mi	2/2.0 (-1)	1,700 (+2%)	3mo	$293,000	$172	57
300 Marine St	0.39mi	2/2.0 (-1)	1,548 (-7%)	9mo	$389,000	$251	57
456 Broad St S	0.34mi	3/1.5	1,915 (+15%)	1mo	$142,500	$74	56
451 Wisconsin Ave	0.70mi	3/2.0	1,512 (-9%)	1mo	$98,000	$65	51
1509 Monroe St	0.71mi	3/2.0	1,430 (-14%)	10mo	$287,000	$201	35

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: -13.4%
• Equity multiple: 0.51×
• Total profit: $-30,563
• Equity at exit: $33,548

10-year hold

• IRR: -3.4%
• Equity multiple: 0.76×
• Total profit: $-14,860
• Equity at exit: $19,454

Cash invested: $63,000 (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 36604

• Rents YoY: 3.8%
• Active inventory: 93
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,890 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$149 /mo · $1,793/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $70

Break-even live

Break-even rent $1,801

Max offer price $225,000

Occupancy floor 91%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	21d	1	0.31mi
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.44mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	14d	1	0.51mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	44d	1	0.58mi
814 S Broad St Unit 1043690P Mobile, AL	3.0	2.0	1991	$3,562	$1.79	14d	1	0.62mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	14d	1	0.75mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	44d	1	0.77mi
107 Michael Donald Ave Unit 1043461P Mobile, AL	4.0	3.5	2195	$3,962	$1.81	14d	1	0.85mi
57 N Ann St Unit 1043453P Mobile, AL	2.0	2.0	1065	$2,015	$1.89	21d	1	0.86mi
811 Gorgas St Mobile, AL	4.0	1.0	1300	$1,310	$1.01	44d	1	0.89mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	14d	1	0.91mi
500 Palmetto St Mobile, AL	3.0	2.0	1786	$1,450	$0.81	44d	1	0.93mi
107 Macy Pl Mobile, AL	3.0	2.0	1800	$2,250	$1.25	44d	1	1.00mi
1321 SpringHill Ave Unit B Mobile, AL	2.0	1.0	2006	$950	$0.47	44d	1	1.08mi
1566 Dauphin St Unit Back Carriage House Mobile, AL	3.0	1.0	1300	$1,200	$0.92	44d	1	1.10mi
1660 Laurel St Mobile, AL	3.0	2.0	1768	$2,200	$1.24	14d	1	1.12mi
412 Dauphin St Mobile, AL	2.0	1.0–2.5	1553	$2,350	$1.51	14d	2	1.15mi
1704 McGill Ave Unit B Mobile, AL	3.0	2.5	1500	$1,750	$1.17	44d	1	1.18mi
122 Demouy Ave Unit 1/2 Mobile, AL	2.0	1.0	1300	$1,530	$1.18	44d	1	1.43mi

Listing history 14 events

1. 2026-05-01
   status Pending
2. 2026-04-23
   price $225,000
3. 2026-04-23
   status Active
4. 2026-04-22
   historical
5. 2026-03-04
   price $233,000
6. 2026-02-04
   price $235,000
7. 2026-01-14
   price $236,000
8. 2025-10-21
   status Active
9. 2025-10-16
   historical
10. 2025-09-19
    price $237,000
11. 2025-08-08
    price $268,000
12. 2025-07-01
    price $275,000
13. 2025-05-08
    price $289,000
14. 2025-04-21
    listed $299,000 Active

ⓘ 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: $1,793 · $149/mo
• Projected year-2 tax: $1,793 · $149/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $22,679
• − Mortgage interest: −$12,603
• − Property taxes: −$1,793
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,814
• − Management: −$1,814
• − Depreciation: −$6,545
• Taxable loss: −$3,017
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $1,563/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

-24.7% since first listed

14 events — show timeline

• 2026-05-01 Pending — GCMLS AL
• 2026-04-23 Price Changed $225,000 GCMLS AL
• 2026-04-23 Relisted — GCMLS AL
• 2026-04-22 Delisted — GCMLS AL
• 2026-03-04 Price Changed $233,000 GCMLS AL
• 2026-02-04 Price Changed $235,000 GCMLS AL
• 2026-01-14 Price Changed $236,000 GCMLS AL
• 2025-10-21 Relisted — GCMLS AL
• 2025-10-16 Delisted — GCMLS AL
• 2025-09-19 Price Changed $237,000 GCMLS AL
• 2025-08-08 Price Changed $268,000 GCMLS AL
• 2025-07-01 Price Changed $275,000 GCMLS AL
• 2025-05-08 Price Changed $289,000 GCMLS AL
• 2025-04-21 Listed $299,000 GCMLS AL

Property tax history

+16.6%/yr

Latest (2023): $1,793 · +68.1% YoY. Source: county tax records.