339 Ware Hill Dr · Montgomery, AL 36109

$109,000

3 bd · 2.0 ba · 2,570 sqft · SingleFamily public records · 16 Days on market

Built 1961 0.44 ac lot ↓ 39% since listing

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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 +9.5/10.0
• ARV discount +7.5/15.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Once a Frank Lloyd Wright inspired masterpiece. this 3bedroom, 2bath home is ready to have new vision. The home is in need of roof and other repairs, but has been recently updated. It needs work but it is not a full makeover. Sold as is.

Key facts

• 0.44 acre lot
• Parking
• Built 1961

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $107k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 6.0% in Montgomery — 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 65/100 on livability (#138 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D, crime F.
• Montgomery County (urban): math 9% / reading 31% proficiency, ranked #106 of 129 in AL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.6%/yr); 209 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 32% of the median local income ($59k/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 $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery 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 + 2.6% rent growth), your $31k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,365 (1.5% 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. 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?
4. 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.
5. 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.
6. 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: 1.45% ✓
• Cap rate: 12.39%
• Cash-on-cash: 21.77%
• DSCR: 1.97
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $233,870
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
526 Wakefield Dr	0.58mi	3/2.0	2,470 (-4%)	3mo	$242,500	$98	64
3764 Marie Cook Dr	0.49mi	3/2.5	2,401 (-7%)	1mo	$219,000	$91	63
532 Wakefield Dr	0.59mi	3/2.0	2,549 (-1%)	9mo	$234,500	$92	63
3602 Honeysuckle Rd	0.15mi	4/1.5 (+1)	2,365 (-8%)	14mo	$188,000	$79	61
3748 Freeman Ct	0.41mi	3/2.0	2,297 (-11%)	9mo	$270,000	$118	56
3703 Lewis Ln	0.67mi	4/2.5 (+1)	2,566 (-0%)	11mo	$215,000	$84	52
3048 Sumter Ave	0.70mi	3/2.0	2,253 (-12%)	7mo	$165,000	$73	41
901 Green Forest Dr	0.57mi	4/2.0 (+1)	2,296 (-11%)	11mo	$199,000	$87	41
3855 Marie Cook Dr	0.64mi	4/2.0 (+1)	2,204 (-14%)	3mo	$225,000	$102	39
552 Chatsworth Dr	0.65mi	4/2.5 (+1)	2,916 (+14%)	4mo	$269,000	$92	37
3741 Lewis Ln	0.69mi	4/3.0 (+1)	2,850 (+11%)	6mo	$225,000	$79	36
3065 Brevard Ave	0.67mi	4/3.0 (+1)	2,277 (-11%)	13mo	$160,000	$70	30

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.56×
• Total profit: $17,041
• Equity at exit: $16,252

10-year hold

• IRR: 22.5%
• Equity multiple: 2.90×
• Total profit: $57,947
• Equity at exit: $9,424

Cash invested: $30,520 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 209
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,584 high
• Mortgage (P&I): −$572
• Tax from tax record: −$81 /mo · $967/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $554

Break-even live

Break-even rent $883

Max offer price $109,000

Occupancy floor 60%

Sensitivity live

Price	-10% $615	-5% $585	+0% $554	+5% $523	+10% $492
Rent	-10% $429	-5% $491	+0% $554	+5% $616	+10% $679
Rate	-1.0pp $609	-0.5pp $581	base $554	+0.5pp $526	+1.0pp $497

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3760 Dalraida Pkwy Montgomery, AL	4.0	2.5	1900	$1,850	$0.97	44d	1	0.31mi
4056 Wares Ferry Rd Montgomery, AL	3.0	2.0	1800	$1,500	$0.83	14d	1	0.47mi
3806 Marie Cook Dr Montgomery, AL	3.0	2.0	1791	$1,675	$0.94	14d	1	0.51mi
3614 Princess Ann St Montgomery, AL	4.0	2.0	1928	$1,581	$0.82	14d	1	0.52mi
3944 Johnstown Dr Montgomery, AL	3.0	2.0	1912	$1,275	$0.67	44d	1	0.55mi
3801 Cedar Ave Montgomery, AL	3.0	2.0	1818	$1,681	$0.92	22d	1	0.65mi
570 Chatsworth Dr Montgomery, AL	4.0	2.0	2845	$1,700	$0.60	14d	1	0.67mi
1007 Highpoint Rd Montgomery, AL	4.0	2.0	2089	$1,581	$0.76	14d	1	0.74mi
931 Whitehall Pkwy Montgomery, AL	4.0	3.0	2403	$1,800	$0.75	45d	1	0.82mi
2941 Ashley Ave Unit 6616 Montgomery, AL	3.0	2.0	2340	$1,250	$0.53	44d	1	0.89mi
19 Calhoun Rd Unit B Montgomery, AL	2.0	1.0	2022	$795	$0.39	44d	1	1.10mi
942 Parkwood Ct Montgomery, AL	4.0	2.0	1752	$1,299	$0.74	14d	1	1.18mi
560 Farmington Rd Montgomery, AL	4.0	2.0	2161	$1,695	$0.78	14d	1	1.38mi
572 Farmington Rd Montgomery, AL	3.0	2.0	2106	$1,495	$0.71	44d	1	1.42mi

Listing history 4 events

1. 2026-03-11
   status Pending
2. 2026-02-23
   listed $109,000 Active
3. 2004-12-16
   listed $180,000
4. 2003-06-26
   listed $180,000

ⓘ 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: $967 · $81/mo
• Projected year-2 tax: $967 · $81/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 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,008
• − Mortgage interest: −$6,106
• − Property taxes: −$967
• − Insurance: −$545
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$3,171
• Taxable income: $5,178
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $5,402/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: Montgomery County
• NCES district ID: 0102430
• Math proficiency: 9% ▼ -21.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $43,902
• Composite: 17.24/100
• National rank: #9093
• State rank: #106 of 129 in AL

Livability — Montgomery

• Score: 65/100
• State rank: #138
• US rank: #13416

Category grades

Amenities D- Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montgomery, AL
• County: Montgomery County · 190,016 people
• City population: 175,913
• Metro: Montgomery, AL
• Population (ZIP): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 224,008 people
• By 2030: 221,460 · -1.1%
• By 2040: 214,179 · -4.4%
• By 2050: 204,912 · -8.5%
• By 2075: 177,821 · -20.6%
• By 2100: 145,134 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+30.7) · D 64.8% · R 34.1% · Other 1.1%
• 2008→2024 swing: +11.5pp toward D · 2008: 19.2pp · 2024: 30.7pp
• All cycles: 2024: D+30.7 2020: D+31.5 2016: D+26.2 2012: D+24.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• Metro: Montgomery, 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

-39.4% since first listed

4 events — show timeline

• 2026-03-11 Pending — MAAR
• 2026-02-23 Listed $109,000 MAAR
• 2004-12-16 Listed $180,000 MAAR
• 2003-06-26 Listed $180,000 MAAR

Property tax history

-0.7%/yr

Latest (2025): $967 · +2.9% YoY. Source: county tax records.