415 Devon St · Mobile, AL 36617

$234,000

4 bd · 2.0 ba · 2,497 sqft · SingleFamily public records · 83 Days on market

Built 1989 1.00 ac lot $94/sqft · 16% above area Est $201k · 16% over

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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 +14.7/30.0
• Appreciation +7.4/10.0
• DSCR +4.5/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.1/15.0

Listing remarks MLS

*OPEN HOUSE on Sunday, April 19th @ 2-4 PM* Welcome Home! This beautifully updated 4-bedroom, 2-bath brick home offers approximately 2,500 square feet of comfortable living space, all situated on a spacious half-acre lot. Step inside to find fresh paint throughout, new flooring in the kitchen, bathrooms, and bedrooms, and an abundance of natural light enhanced by new recessed lighting and updated fixtures both inside and out. The fully renovated kitchen features brand-new cabinetry, sleek granite countertops, pendants lights over the stylish island perfect for cooking and entertaining along with brand-new kitchen appliances. Additional upgrades include new doors, modern hardware, upgraded electrical and plumbing systems, a new water heater, and a brand-new roof (2025), offering peace of mind for years to come. New blinds are installed throughout the home, and there is plenty of closet space for ample storage. Outside, the property offers a double carport and refreshed landscaping, adding to the home’s curb appeal. This move-in-ready home combines space, style, and thoughtful updates ready for its next owner!

Key facts

• Brand new cabinetry
• New flooring
• New water heater

Tags

• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• BRAND NEW CABINETRY
• NEW FLOORING
• NEW RECESSED LIGHTING
• NEW WATER HEATER

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $234k.

Deal economics

• At list price, monthly cash flow is $60 ($721/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 $188k (19.5% below list).
• Recommended offer: $188k (19.5% below list) — sets the bar for 1% rule.

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: Holloway Elementary (math 5% / reading 19%, grade F, #554 of 627 statewide, top 88%, 498 students, 98% FRL); Booker T Washington Middle School (math 0% / reading 12%, grade F, #252 of 257 statewide, top 98%, 340 students, 95% FRL); John L Leflore Magnet School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 618 students, 84% FRL) — zoned schools average 92% FRL vs 67% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 7% at this address vs 27% district-wide (-20 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 40 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 $13k of equity ($2k loan paydown + $11k appreciation (4.8% 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 (4.8% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $67k; list at $234k implies a 249% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $188,437 (19.5% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.81% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $201,002
• List price: $234,000
• Delta: 16.42%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 Lourdes Cir E	0.18mi	4/2.0	2,475 (-1%)	8mo	$209,000	$84	84
2201 De Kruif Ct	0.10mi	5/2.0 (+1)	2,527 (+1%)	22mo	$139,000	$55	70
2022 Hathcox St	0.41mi	4/3.0	2,360 (-6%)	2mo	$123,000	$52	66
2006 N Levert Dr	0.38mi	4/3.0	2,830 (+13%)	1mo	$510,000	$180	55
260 Siena Vis	0.63mi	4/2.5	2,703 (+8%)	5mo	$255,000	$94	50
1805 Indian Creek Dr N	0.63mi	5/3.0 (+1)	2,585 (+4%)	9mo	$225,000	$87	48
287 Wingfield Dr	0.57mi	4/3.0	2,680 (+7%)	14mo	$185,000	$69	45
2405 Springhill Ave	0.62mi	4/3.0	2,867 (+15%)	3mo	$269,000	$94	40
263 Park Ave	0.56mi	3/3.0 (-1)	2,284 (-8%)	19mo	$295,000	$129	35
2553 Macaria Dr	0.51mi	3/3.0 (-1)	2,163 (-13%)	14mo	$325,000	$150	33

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

Projected returns pro-forma

4.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.2%
• Equity multiple: 1.83×
• Total profit: $54,704
• Equity at exit: $129,445

10-year hold

• IRR: 14.2%
• Equity multiple: 3.49×
• Total profit: $163,380
• Equity at exit: $220,836

Cash invested: $65,520 (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 36617

• Home prices YoY: 3.9%
• Active inventory: 40
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,884 medium
• Mortgage (P&I): −$1,227
• Tax from tax record: −$104 /mo · $1,247/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $60

Break-even live

Break-even rent $1,808

Max offer price $234,000

Occupancy floor 92%

Sensitivity live

Price	-10% $193	-5% $126	+0% $60	+5% $-6	+10% $-72
Rent	-10% $-89	-5% $-14	+0% $60	+5% $135	+10% $209
Rate	-1.0pp $178	-0.5pp $120	base $60	+0.5pp $-1	+1.0pp $-62

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: $58,500
• Closing costs: $7,020
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,450	$1.94	45d	1	0.53mi
2007 Allison St Unit 1 Mobile, AL	3.0	2.0	1805	$1,575	$0.87	45d	1	0.77mi
1821 Seale St Mobile, AL	4.0	2.0	1584	$1,400	$0.88	23d	1	1.25mi

Listing history 22 events

1. 2026-06-21
   days on market $234,000 Active 83 DOM
2. 2026-06-18
   days on market $234,000 Active 80 DOM
3. 2026-06-17
   days on market $234,000 Active 79 DOM
4. 2026-06-16
   days on market $234,000 Active 78 DOM
5. 2026-06-15
   days on market $234,000 Active 77 DOM
6. 2026-06-14
   days on market $234,000 Active 75 DOM
7. 2026-06-13
   days on market $234,000 Active 74 DOM
8. 2026-06-10
   days on market $234,000 Active 72 DOM
9. 2026-06-09
   days on market $234,000 Active 71 DOM
10. 2026-06-08
    days on market $234,000 Active 70 DOM
11. 2026-06-07
    days on market $234,000 Active 69 DOM
12. 2026-06-05
    days on market $234,000 Active 66 DOM
13. 2026-06-03
    days on market $234,000 Active 65 DOM
14. 2026-06-02
    days on market $234,000 Active 64 DOM
15. 2026-06-01
    days on market $234,000 Active 63 DOM
16. 2026-05-31
    days on market $234,000 Active 62 DOM
17. 2026-05-30
    days on market $234,000 Active 61 DOM
18. 2026-05-11
    price $234,000 1132-char remark

    Show marketing remark (1132 chars)

    *OPEN HOUSE on Sunday, April 19th @ 2-4 PM* Welcome Home! This beautifully updated 4-bedroom, 2-bath brick home offers approximately 2,500 square feet of comfortable living space, all situated on a spacious half-acre lot. Step inside to find fresh paint throughout, new flooring in the kitchen, bathrooms, and bedrooms, and an abundance of natural light enhanced by new recessed lighting and updated fixtures both inside and out. The fully renovated kitchen features brand-new cabinetry, sleek granite countertops, pendants lights over the stylish island perfect for cooking and entertaining along with brand-new kitchen appliances. Additional upgrades include new doors, modern hardware, upgraded electrical and plumbing systems, a new water heater, and a brand-new roof (2025), offering peace of mind for years to come. New blinds are installed throughout the home, and there is plenty of closet space for ample storage. Outside, the property offers a double carport and refreshed landscaping, adding to the home’s curb appeal. This move-in-ready home combines space, style, and thoughtful updates ready for its next owner!

19. 2026-04-01
    status Active 1132-char remark

    Show marketing remark (1132 chars)

    *OPEN HOUSE on Sunday, April 19th @ 2-4 PM* Welcome Home! This beautifully updated 4-bedroom, 2-bath brick home offers approximately 2,500 square feet of comfortable living space, all situated on a spacious half-acre lot. Step inside to find fresh paint throughout, new flooring in the kitchen, bathrooms, and bedrooms, and an abundance of natural light enhanced by new recessed lighting and updated fixtures both inside and out. The fully renovated kitchen features brand-new cabinetry, sleek granite countertops, pendants lights over the stylish island perfect for cooking and entertaining along with brand-new kitchen appliances. Additional upgrades include new doors, modern hardware, upgraded electrical and plumbing systems, a new water heater, and a brand-new roof (2025), offering peace of mind for years to come. New blinds are installed throughout the home, and there is plenty of closet space for ample storage. Outside, the property offers a double carport and refreshed landscaping, adding to the home’s curb appeal. This move-in-ready home combines space, style, and thoughtful updates ready for its next owner!

20. 2026-03-27
    status Pending 1132-char remark

    Show marketing remark (1132 chars)

    *OPEN HOUSE on Sunday, April 19th @ 2-4 PM* Welcome Home! This beautifully updated 4-bedroom, 2-bath brick home offers approximately 2,500 square feet of comfortable living space, all situated on a spacious half-acre lot. Step inside to find fresh paint throughout, new flooring in the kitchen, bathrooms, and bedrooms, and an abundance of natural light enhanced by new recessed lighting and updated fixtures both inside and out. The fully renovated kitchen features brand-new cabinetry, sleek granite countertops, pendants lights over the stylish island perfect for cooking and entertaining along with brand-new kitchen appliances. Additional upgrades include new doors, modern hardware, upgraded electrical and plumbing systems, a new water heater, and a brand-new roof (2025), offering peace of mind for years to come. New blinds are installed throughout the home, and there is plenty of closet space for ample storage. Outside, the property offers a double carport and refreshed landscaping, adding to the home’s curb appeal. This move-in-ready home combines space, style, and thoughtful updates ready for its next owner!

21. 2026-03-25
    listed $239,900 Active 1132-char remark

    Show marketing remark (1132 chars)

    *OPEN HOUSE on Sunday, April 19th @ 2-4 PM* Welcome Home! This beautifully updated 4-bedroom, 2-bath brick home offers approximately 2,500 square feet of comfortable living space, all situated on a spacious half-acre lot. Step inside to find fresh paint throughout, new flooring in the kitchen, bathrooms, and bedrooms, and an abundance of natural light enhanced by new recessed lighting and updated fixtures both inside and out. The fully renovated kitchen features brand-new cabinetry, sleek granite countertops, pendants lights over the stylish island perfect for cooking and entertaining along with brand-new kitchen appliances. Additional upgrades include new doors, modern hardware, upgraded electrical and plumbing systems, a new water heater, and a brand-new roof (2025), offering peace of mind for years to come. New blinds are installed throughout the home, and there is plenty of closet space for ample storage. Outside, the property offers a double carport and refreshed landscaping, adding to the home’s curb appeal. This move-in-ready home combines space, style, and thoughtful updates ready for its next owner!

22. 2025-07-24
    soldstatus $67,000

ⓘ 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: $1,247 · $104/mo
• Projected year-2 tax: $1,247 · $104/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $22,612
• − Mortgage interest: −$13,108
• − Property taxes: −$1,247
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,809
• − Management: −$1,809
• − Depreciation: −$6,807
• Taxable loss: −$3,338
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $1,522/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): 11,952

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 (97%)
• Race & ethnicity: Black 97% White 2%
• Foreign-born: 0%

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: ▲ 4.78%
• Current HPI: 128.8377
• 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

+249.3% since first listed

5 events — show timeline

• 2026-05-11 Price Changed $234,000 GCMLS AL
• 2026-04-01 Relisted — GCMLS AL
• 2026-03-27 Pending — GCMLS AL
• 2026-03-25 Listed $239,900 GCMLS AL
• 2025-07-24 Sold (Public Records) $67,000 Public Records

Property tax history

+14.7%/yr

Latest (2025): $1,247 · +0.0% YoY. Source: county tax records.