653 Carolina St N · Mobile, AL 36603

$115,000

2 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 45 Days on market

Built 1983 6,337 sqft lot $85/sqft · 21% below area Est $145k · 21% 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Appreciation +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Income-producing rental property for sale! The subject property is a freshly remodeled 2 bedroom, 2 bathroom house. This property has the potential for a 3rd bedroom for an increase in rental income. A brand new roof was installed in 2022, a new HVAC system in 2021, new stainless steel appliances, fresh paint, added steel beams under the crawl space for structural support with a lifetime warranty, and more! This property currently rents for $975/mo. Tenant occupied, do not disturb tenants. Exterior photos in listing are outdated, rotted soffit/fascia has been replaced with new wood and painted. This property is professionally managed by Revitalize Realty.

Key facts

• 6,337 sq ft lot
• Built 1983
• Listed 45 days

Property features AI

Finance

• Other: No land lease; Property has a view; No pool or spa; No other exterior structures; No accessibility features listed

Exterior

• Parking: Driveway
• Utilities: Cable available; Electricity available (220 volts); Natural gas available; Public sewer; Public water
• Home design: Single family residence; Residential property; Built in 1983; Shingle roof; Pillar/post/pier foundation; Insulated windows
• Construction: Wood siding construction
• Exterior features: Private yard; Back yard fencing

Interior

• Kitchen: Electric oven; Refrigerator; Cabinets
• Bedrooms: 2 bedrooms
• Flooring: Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: 9-foot ceilings on the main level; Open floorplan; Cabinets (kitchen)
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$145,264) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $311 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

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: Erwin Craighead Elementary School (math 2% / reading 22%, grade F, #536 of 627 statewide, top 88%, 420 students, 89% FRL); Calloway Smith Middle School (math 0% / reading 18%, grade F, #235 of 257 statewide, top 93%, 396 students, 96% 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 (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 8% at this address vs 27% district-wide (-19 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 36 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).

Forward outlook

• In year one you build about $2k of equity ($795 loan paydown + $2k appreciation (1.3% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $89k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.23% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.06%
• DSCR: 1.63
• GRM: 6.8

CMA / ARV

• ARV (median comp): $145,264
• List price: $115,000
• Delta: -20.83%
• 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
909 Dearborn St S	0.04mi	3/2.0 (+1)	1,464 (+8%)	7mo	$135,000	$92	74
704 Marine St	0.40mi	2/2.0	1,220 (-10%)	1mo	$167,000	$137	65
808 Charles St	0.45mi	3/1.0 (+1)	1,292 (-4%)	1mo	$155,000	$120	62
700 Marine St	0.40mi	3/2.0 (+1)	1,322 (-2%)	13mo	$152,000	$115	62
700 Carolina St S	0.07mi	3/1.0 (+1)	1,526 (+13%)	15mo	$80,000	$52	54
551 Marine St	0.50mi	3/2.0 (+1)	1,204 (-11%)	7mo	$127,000	$105	47
1105 Marine St	0.60mi	3/2.0 (+1)	1,500 (+11%)	3mo	$235,000	$157	46
1104 Marine St	0.61mi	3/2.0 (+1)	1,500 (+11%)	6mo	$235,000	$157	44
502 George St	0.73mi	3/2.0 (+1)	1,280 (-5%)	11mo	$175,000	$137	43
1103 Marine St	0.59mi	3/2.0 (+1)	1,512 (+12%)	8mo	$230,000	$152	41
607 Texas St	0.43mi	3/2.0 (+1)	1,539 (+14%)	15mo	$189,500	$123	40
906 Texas St	0.55mi	3/2.0 (+1)	1,155 (-15%)	18mo	$195,000	$169	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.32% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.2%
• Equity multiple: 1.74×
• Total profit: $23,793
• Equity at exit: $41,195

10-year hold

• IRR: 17.4%
• Equity multiple: 3.18×
• Total profit: $70,188
• Equity at exit: $56,273

Cash invested: $32,200 (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 36603

• Home prices YoY: 2.8%
• Active inventory: 36
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,413 high
• Mortgage (P&I): −$603
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$48
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $311

Break-even live

Break-even rent $1,020

Max offer price $115,000

Occupancy floor 73%

Sensitivity live

Price	-10% $376	-5% $343	+0% $311	+5% $278	+10% $246
Rent	-10% $199	-5% $255	+0% $311	+5% $367	+10% $422
Rate	-1.0pp $369	-0.5pp $340	base $311	+0.5pp $281	+1.0pp $251

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	45d	1	0.35mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	45d	2	0.38mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	23d	1	0.71mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	23d	1	0.77mi
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	15d	1	0.92mi
500 Palmetto St Mobile, AL	3.0	2.0	1786	$1,450	$0.81	45d	1	0.95mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	23d	1	1.21mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	45d	1	1.21mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	45d	1	1.27mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	15d	1	1.27mi
961 Old Shell Rd Unit A Mobile, AL	3.0	2.5	1600	$1,295	$0.81	45d	1	1.35mi
558 Saint Francis St Unit 2D Mobile, AL	1.0	1.0	1150	$1,550	$1.35	45d	1	1.41mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	45d	1	1.42mi
412 Dauphin St Mobile, AL	2.0	1.0–2.5	1553	$2,350	$1.51	15d	2	1.43mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	15d	1	1.48mi

Listing history 24 events

1. 2026-06-21
   days on market $115,000 Active 45 DOM
2. 2026-06-18
   days on market $115,000 Active 42 DOM
3. 2026-06-17
   days on market $115,000 Active 41 DOM
4. 2026-06-16
   days on market $115,000 Active 40 DOM
5. 2026-06-15
   days on market $115,000 Active 39 DOM
6. 2026-06-14
   days on market $115,000 Active 37 DOM
7. 2026-06-13
   pricedays on market $115,000 Active 36 DOM
8. 2026-06-10
   days on market $120,000 Active 34 DOM
9. 2026-06-09
   days on market $120,000 Active 33 DOM
10. 2026-06-08
    days on market $120,000 Active 32 DOM
11. 2026-06-07
    days on market $120,000 Active 31 DOM
12. 2026-06-05
    days on market $120,000 Active 28 DOM
13. 2026-06-03
    days on market $120,000 Active 27 DOM
14. 2026-06-02
    days on market $120,000 Active 26 DOM
15. 2026-06-01
    days on market $120,000 Active 25 DOM
16. 2026-05-31
    days on market $120,000 Active 24 DOM
17. 2026-05-30
    days on market $120,000 Active 23 DOM
18. 2026-05-07
    listed $120,000 Active 1057-char remark
19. 2024-11-18
    listed $115,000 Active
20. 2023-03-22
    soldstatus $89,000
21. 2023-03-21
    soldstatus $89,000 Closed

    Show marketing remark (663 chars)

    Income-producing rental property for sale! The subject property is a freshly remodeled 2 bedroom, 2 bathroom house. This property has the potential for a 3rd bedroom for an increase in rental income. A brand new roof was installed in 2022, a new HVAC system in 2021, new stainless steel appliances, fresh paint, added steel beams under the crawl space for structural support with a lifetime warranty, and more! This property currently rents for $975/mo. Tenant occupied, do not disturb tenants. Exterior photos in listing are outdated, rotted soffit/fascia has been replaced with new wood and painted. This property is professionally managed by Revitalize Realty.

22. 2023-01-31
    historical Active Under Contract

    Show marketing remark (663 chars)

    Income-producing rental property for sale! The subject property is a freshly remodeled 2 bedroom, 2 bathroom house. This property has the potential for a 3rd bedroom for an increase in rental income. A brand new roof was installed in 2022, a new HVAC system in 2021, new stainless steel appliances, fresh paint, added steel beams under the crawl space for structural support with a lifetime warranty, and more! This property currently rents for $975/mo. Tenant occupied, do not disturb tenants. Exterior photos in listing are outdated, rotted soffit/fascia has been replaced with new wood and painted. This property is professionally managed by Revitalize Realty.

23. 2022-12-31
    listed $90,000 Active

    Show marketing remark (663 chars)

    Income-producing rental property for sale! The subject property is a freshly remodeled 2 bedroom, 2 bathroom house. This property has the potential for a 3rd bedroom for an increase in rental income. A brand new roof was installed in 2022, a new HVAC system in 2021, new stainless steel appliances, fresh paint, added steel beams under the crawl space for structural support with a lifetime warranty, and more! This property currently rents for $975/mo. Tenant occupied, do not disturb tenants. Exterior photos in listing are outdated, rotted soffit/fascia has been replaced with new wood and painted. This property is professionally managed by Revitalize Realty.

24. 2004-06-18
    soldstatus $50,000

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $1,060 · $88/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 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 22 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: $16,961
• − Mortgage interest: −$6,442
• − Property taxes: −$1,060
• − Insurance: −$1,372
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$3,345
• Taxable income: $2,027
• Est. tax owed @ 24.0%: −$487
• After-tax cash flow: $3,243/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
• City population: 205,729
• Population (ZIP): 7,805

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 (85%)
• Race & ethnicity: Black 85% White 12% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

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: ▲ 1.32%
• Current HPI: 48.9551
• Rent YoY: —
• Metro: —
• 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

+130.0% since first listed

8 events — show timeline

• 2026-06-12 Price Changed $115,000 GCMLS AL
• 2026-05-07 Listed $120,000 GCMLS AL
• 2024-11-18 Listed $115,000 BCAR
• 2023-03-22 Sold (Public Records) $89,000 Public Records
• 2023-03-21 Sold (MLS) $89,000 GCMLS AL
• 2023-01-31 Contingent — GCMLS AL
• 2022-12-31 Listed $90,000 GCMLS AL
• 2004-06-18 Sold (Public Records) $50,000 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,060 · +1.3% YoY. Source: county tax records.