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653 Carolina St N 🏷️ Likely Rental
B+ Composite 77.3
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
  • Condition / age +3.8/5.0
  • Rent growth +2.5/5.0
  • Schools +0.8/10.0

$115,000

653 Carolina St N · Mobile, AL 36603
2 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 93 Days on market
Built 1983 Good condition 6,337 sqft lot $85/sqft · 21% below area Est $146k · 21% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

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 Exterior photos in listing are outdated, rotted soffit/fascia has been replaced with new wood and painted.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 92 days

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…
🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$146,093) 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. Condition is rated good.

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: $105k (9.0% 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: 43 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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 93 days — a 9% lower offer ($105k) 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 $104,650 (9.0% below list)

Questions for the listing agent

  1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. 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
1.23%
Cap rate
10.23%
Cash-on-cash
14.06%
DSCR
1.63
GRM
6.8

CMA / ARV

ARV (median comp)
$146,093
List price
$115,000
Delta
-21.28%
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%) 8mo $135,000 $92 72
704 Marine St 0.40mi 2/2.0 1,220 (-10%) 2mo $167,000 $137 63
808 Charles St 0.45mi 3/1.0 (+1) 1,292 (-4%) 2mo $155,000 $120 61
700 Marine St 0.40mi 3/2.0 (+1) 1,322 (-2%) 15mo $152,000 $115 60
700 Carolina St S 0.07mi 3/1.0 (+1) 1,526 (+13%) 16mo $80,000 $52 53
551 Marine St 0.50mi 3/2.0 (+1) 1,204 (-11%) 9mo $127,000 $105 46
1105 Marine St 0.60mi 3/2.0 (+1) 1,500 (+11%) 5mo $235,000 $157 45
1104 Marine St 0.61mi 3/2.0 (+1) 1,500 (+11%) 7mo $235,000 $157 42
502 George St 0.73mi 3/2.0 (+1) 1,280 (-5%) 12mo $175,000 $137 42
1103 Marine St 0.59mi 3/2.0 (+1) 1,512 (+12%) 10mo $230,000 $152 40
607 Texas St 0.43mi 3/2.0 (+1) 1,539 (+14%) 16mo $189,500 $123 38
906 Texas St 0.55mi 3/2.0 (+1) 1,155 (-15%) 20mo $195,000 $169 28

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.
Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
8 active · 11 under contract
Months of supply
4.0 mo (25%/mo absorbed)
Median asking
$202,000 ($138/sqft)
Median days on market
137 d
This list price
25% of active listings are priced below it
ARV vs active asking
-21.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 36603

Home prices YoY
2.8%
Active inventory
43
Price-to-rent
6.8×

Monthly cashflow live

Estimated rent
$1,413 high interval (Pro) →
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

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 15 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
711 Marine St Mobile, AL 2.0 1.0 1100 $1,150 $1.05 93d 1 0.35mi
600 S Washington Ave Mobile, AL 1.0–2.0 1.0 820 $1,058 $1.29 93d 2 0.38mi
1013 Elmira St Unit A Mobile, AL 2.0 1.0 1000 $995 $0.99 70d 1 0.71mi
957 Savannah St Mobile, AL 2.0 1.5 1054 $1,400 $1.33 70d 1 0.77mi
1204 Seneca St Mobile, AL 3.0 2.0 1425 $1,345 $0.94 63d 1 0.92mi
500 Palmetto St Mobile, AL 3.0 2.0 1786 $1,450 $0.81 93d 1 0.95mi
207 Michigan Ave Unit 3 Mobile, AL 1.0 1.0 1000 $795 $0.80 70d 1 1.21mi
207 Michigan Ave Unit 3 Mobile, AL 1.0 1.0 1000 $795 $0.80 93d 1 1.21mi
1417 Monroe St Mobile, AL 2.0 1.0 1064 $1,350 $1.27 93d 1 1.27mi
1141 Montauk Ave Unit 1043864P Mobile, AL 3.0 2.0 1420 $2,741 $1.93 63d 1 1.27mi
961 Old Shell Rd Unit A Mobile, AL 3.0 2.5 1600 $1,295 $0.81 93d 1 1.35mi
558 Saint Francis St Unit 2D Mobile, AL 1.0 1.0 1150 $1,550 $1.35 93d 1 1.41mi
250 Tuttle Ave Unit B Mobile, AL 1.0 1.0 928 $1,100 $1.19 93d 1 1.42mi
412 Dauphin St Mobile, AL 2.0 1.0–2.5 1553 $2,350 $1.51 63d 2 1.43mi
84 S Lafayette St Unit 1043577P Mobile, AL 3.0 2.0 1496 $3,116 $2.08 63d 1 1.48mi

Property features AI

Finance

Other
No land leaseProperty has a viewNo pool or spaNo other exterior structuresNo accessibility features listed

Exterior

Parking
Driveway
Utilities
Cable availableElectricity available (220 volts)Natural gas availablePublic sewerPublic water
Home design
Single family residenceResidential propertyBuilt in 1983Shingle roofPillar/post/pier foundationInsulated windows
Construction
Wood siding construction
Exterior features
Private yardBack yard fencing

Interior

Kitchen
Electric ovenRefrigeratorCabinets
Bedrooms
2 bedrooms
Flooring
Ceramic tileVinyl
Bathrooms
2 full bathrooms
Heating & cooling
Central heatingCentral air conditioning
Interior features
9-foot ceilings on the main levelOpen floorplanCabinets (kitchen)
Laundry & utility
WasherDryer

Listing history 50 events

  1. 2026-08-08
    days on market $115,000 Active 93 DOM
  2. 2026-08-07
    days on market $115,000 Active 92 DOM
  3. 2026-08-06
    days on market $115,000 Active 91 DOM
  4. 2026-08-05
    days on market $115,000 Active 90 DOM
  5. 2026-08-04
    days on market $115,000 Active 89 DOM
  6. 2026-08-03
    days on market $115,000 Active 88 DOM
  7. 2026-07-31
    days on market $115,000 Active 85 DOM
  8. 2026-07-30
    days on market $115,000 Active 84 DOM
  9. 2026-07-29
    days on market $115,000 Active 83 DOM
  10. 2026-07-27
    days on market $115,000 Active 81 DOM
  11. 2026-07-25
    days on market $115,000 Active 79 DOM
  12. 2026-07-24
    days on market $115,000 Active 78 DOM
  13. 2026-07-23
    days on market $115,000 Active 77 DOM
  14. 2026-07-22
    days on market $115,000 Active 76 DOM
  15. 2026-07-21
    days on market $115,000 Active 75 DOM
  16. 2026-07-18
    days on market $115,000 Active 72 DOM
  17. 2026-07-16
    days on market $115,000 Active 70 DOM
  18. 2026-07-16
    days on market $115,000 Active 69 DOM
  19. 2026-07-14
    days on market $115,000 Active 68 DOM
  20. 2026-07-13
    days on market $115,000 Active 67 DOM
  21. 2026-07-12
    days on market $115,000 Active 66 DOM
  22. 2026-07-11
    days on market $115,000 Active 65 DOM
  23. 2026-07-10
    days on market $115,000 Active 64 DOM
  24. 2026-07-09
    days on market $115,000 Active 63 DOM
  25. 2026-07-08
    days on market $115,000 Active 62 DOM
  26. 2026-07-07
    days on market $115,000 Active 61 DOM
  27. 2026-07-06
    days on market $115,000 Active 60 DOM
  28. 2026-07-05
    days on market $115,000 Active 59 DOM
  29. 2026-07-04
    days on market $115,000 Active 58 DOM
  30. 2026-07-03
    days on market $115,000 Active 57 DOM
  31. 2026-07-02
    days on market $115,000 Active 56 DOM
  32. 2026-07-01
    days on market $115,000 Active 55 DOM
  33. 2026-06-30
    days on market $115,000 Active 54 DOM
  34. 2026-06-29
    days on market $115,000 Active 53 DOM
  35. 2026-06-28
    days on market $115,000 Active 52 DOM
  36. 2026-06-28
    days on market $115,000 Active 51 DOM
  37. 2026-06-27
    days on market $115,000 Active 50 DOM
  38. 2026-06-25
    days on market $115,000 Active 48 DOM
  39. 2026-06-23
    days on market $115,000 Active 46 DOM
  40. 2026-06-21
    days on market $115,000 Active 45 DOM
  41. 2026-06-18
    days on market $115,000 Active 42 DOM
  42. 2026-06-17
    days on market $115,000 Active 41 DOM
  43. 2026-06-16
    days on market $115,000 Active 40 DOM
  44. 2026-06-15
    days on market $115,000 Active 39 DOM
  45. 2026-06-14
    days on market $115,000 Active 37 DOM
  46. 2026-06-13
    pricedays on market $115,000 Active 36 DOM
  47. 2026-06-10
    days on market $120,000 Active 34 DOM
  48. 2026-06-09
    days on market $120,000 Active 33 DOM
  49. 2026-06-08
    days on market $120,000 Active 32 DOM
  50. 2026-06-07
    days on market $120,000 Active 31 DOM

ⓘ 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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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
combined federal + state — saved on this device
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.

Condition & rehab AI · 9 photos

Good 75/100 Cosmetic rehab Est. rehab $6,760–$20,280 screening

This move-in-ready home offers strong income-producing potential with a new roof, HVAC, and fresh paint, making it a great investment opportunity.

Value-add opportunities

  • Both landscaping — enhances curb appeal and rental value
  • Both painting — refreshes the exterior and interior, improving curb appeal and rental value

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 8/100

Zoned Schools

Elementary Erwin Craighead Elementary School F AL #536/627 Nat'l #37,719/41,679 Middle Calloway Smith Middle School F AL #235/257 Nat'l #13,509/14,009 High Ben C Rain High School F AL #291/305 Nat'l #17,145/17,239

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
B Composite livability gradescore 75/100

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 · 415,303 people
City population
205,729
Metro
Mobile, AL
Population (ZIP)
7,805
Household income
$27,083
Rent vs Own
67.2% rent · 32.8% own
Severe rent burden
15% of renters

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

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.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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