1848 Gatewood Dr · Montgomery, AL 36106

$154,900

4 bd · 2.0 ba · 1,694 sqft · SingleFamily public records · 6 Days on market

Built 1968 0.29 ac lot Est $186k · 17% under

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Why this score? — see what drove the C 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.0/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 BR 2 bath home convenient to everything. Nice fenced back yard and large patio. Call your favorite Realtor and take a look. Buyer to verify school zones and square footage.

Key facts

• Covered patio
• 0.29 acre lot
• Built 1968

Tags

• COVERED PATIO

Property features AI

Finance

• Other: Lot size reported as 0.29 acres

Exterior

• Parking: Driveway parking
• Utilities: Public water; Water heater: gas and electric options; Internet service availability unknown
• Home design: Single-family residence (existing construction); Four-side brick exterior; Slab foundation
• Construction: 4-side brick construction; Slab foundation
• Exterior features: Covered patio; No pool; No decks; No garden/patio view; Not waterfront

Interior

• Kitchen: Solid surface countertops; Electric cooktop; Electric stove; Refrigerator
• Bedrooms: Four bedrooms, all on the main level
• Flooring: Hardwood laminate flooring
• Bathrooms: Two full bathrooms; Garden tub
• Heating & cooling: Central heating; Central cooling
• Interior features: Ceilings described as 'Other (See Remarks)'; No additional interior features listed
• Laundry & utility: Main-level laundry; Washer hookup; Dryer hookups for both electric and gas

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/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 $155k (0.1% below list).
• Recommended offer: $155k (0.1% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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: employment D, crime F, amenities D-.
• 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.
• Zoned schools: Vaughn Road Elementary School (math 3% / reading 25%, grade F, #530 of 627 statewide, top 84%, 494 students, 78% FRL); Jefferson Davis High School (math 3% / reading 16%, grade F, #258 of 305 statewide, top 85%, 1,522 students, 83% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 137 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 + 6.3% rent growth), your $43k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 $104k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $154,799

Questions for the listing agent

1. Built in 1968 — 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: 1.00% ✗
• Cap rate: 8.11%
• Cash-on-cash: 6.48%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $186,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1848 Cairnbrook Dr	0.10mi	4/2.0	1,700 (+0%)	2mo	$181,000	$106	93
4123 Aspen Ln	0.16mi	4/2.0	1,730 (+2%)	2mo	$147,500	$85	87
1853 Llanfair Rd	0.10mi	4/2.0	1,861 (+10%)	6mo	$190,000	$102	74
1843 Heatherton Dr	0.37mi	4/2.0	1,815 (+7%)	1mo	$199,000	$110	70
2015 Mallard Ln	0.35mi	3/2.0 (-1)	1,798 (+6%)	7mo	$204,000	$113	63
4485 White Acres Rd	0.37mi	4/2.0	1,892 (+12%)	2mo	$223,500	$118	62
1948 Cottingham Dr	0.36mi	3/2.0 (-1)	1,881 (+11%)	1mo	$242,000	$129	59
2109 Young Farm Pl	0.67mi	3/2.0 (-1)	1,658 (-2%)	6mo	$247,000	$149	55
4257 Shamrock Ln	0.57mi	3/2.0 (-1)	1,832 (+8%)	2mo	$198,000	$108	53
4712 Harvest Way	0.73mi	3/2.0 (-1)	1,778 (+5%)	2mo	$185,500	$104	51
4160 Denton Dr	0.42mi	3/2.0 (-1)	1,453 (-14%)	2mo	$169,000	$116	50
4451 Mccampbell Dr	0.66mi	3/2.0 (-1)	1,908 (+13%)	2mo	$189,000	$99	42

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 · 6.29% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-4,909
• Equity at exit: $23,096

10-year hold

• IRR: 9.9%
• Equity multiple: 1.88×
• Total profit: $38,076
• Equity at exit: $13,393

Cash invested: $43,372 (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 36106

• Home prices YoY: -13.1%
• Rents YoY: 6.3%
• Active inventory: 137
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,548 high
• Mortgage (P&I): −$812
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $234

Break-even live

Break-even rent $1,251

Max offer price $154,900

Occupancy floor 80%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4243 Vaughn Rd Unit 1043807P Montgomery, AL	4.0	2.0	1496	$3,360	$2.25	44d	1	0.17mi
1516 Charleton Dr Montgomery, AL	3.0	2.0	1895	$1,650	$0.87	44d	1	0.30mi
4132 Carmichael Rd Montgomery, AL	1.0–3.0	1.0–2.0	900	$1,156	$1.28	13d	10	0.45mi
1845 Young Farm Rd Montgomery, AL	3.0	2.0	1444	$1,750	$1.21	44d	1	0.51mi
4285 Shamrock Ln Unit 1043850P Montgomery, AL	5.0	2.0	1991	$3,909	$1.96	21d	1	0.57mi
4409 McCampbell Dr Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	13d	1	0.59mi
4707 Mitford Cir Montgomery, AL	3.0	2.0	1943	$1,800	$0.93	44d	1	0.71mi
2311 Cottingham Dr Montgomery, AL	3.0	2.0	1676	$1,595	$0.95	44d	1	0.77mi
2000 Central Pkwy Montgomery, AL	1.0–3.0	1.0–2.0	1133	$2,135	$1.88	13d	14	0.82mi
1738 Fairforest Dr Montgomery, AL	3.0	2.0	2166	$1,895	$0.87	44d	1	0.84mi
1216 Beechdale Rd Montgomery, AL	4.0	2.0	1495	$1,325	$0.89	44d	1	1.01mi
3352 Ridgefield Dr Montgomery, AL	3.0	2.0	1932	$1,761	$0.91	21d	1	1.02mi
4041A Beth Manor Dr Montgomery, AL	1.0–3.0	1.0–2.0	925	$1,000	$1.08	21d	20	1.04mi
5635 Red Barn Rd Unit 1043848P Montgomery, AL	3.0	2.0	1496	$3,390	$2.27	13d	1	1.13mi
1229 Karen Rd Montgomery, AL	4.0	2.0	1344	$1,590	$1.18	44d	1	1.22mi
3580 McGehee Pl Dr S Montgomery, AL	3.0	2.0	1200	$1,205	$1.00	44d	1	1.22mi
750 S Marquette Dr Montgomery, AL	3.0	1.0	1325	$1,195	$0.90	44d	1	1.25mi
1216 Karen Rd Montgomery, AL	3.0	2.0	1620	$1,350	$0.83	13d	1	1.27mi
2495 Meadow Ridge Ln Montgomery, AL	1.0–3.0	1.0–2.0	1205	$1,199	$1.00	13d	14	1.31mi
1154 Lakewood Dr Montgomery, AL	3.0	2.0	1066	$1,350	$1.27	44d	1	1.32mi
2014 Rexford Rd Montgomery, AL	3.0	2.0	1596	$1,150	$0.72	44d	1	1.33mi
3364 Fountain Ln Montgomery, AL	1.0–3.0	1.0–2.5	1221	$1,099	$0.90	44d	1	1.33mi
2060 Rexford Rd Montgomery, AL	3.0	2.5	1566	$925	$0.59	21d	1	1.38mi
2066 Rexford Rd Montgomery, AL	3.0	2.5	1632	$1,250	$0.77	21d	1	1.39mi
2651 Clement Curv Montgomery, AL	3.0	2.0	1402	$1,550	$1.11	21d	1	1.40mi
1117 Karen Rd Montgomery, AL	3.0	1.0	1308	$1,195	$0.91	44d	1	1.41mi
572 Farmington Rd Montgomery, AL	3.0	2.0	2106	$1,495	$0.71	44d	1	1.41mi
560 Farmington Rd Montgomery, AL	4.0	2.0	2161	$1,695	$0.78	13d	1	1.44mi
908 Greg Dr Montgomery, AL	3.0	1.0	1520	$1,100	$0.72	21d	1	1.45mi
895 Greg Dr Montgomery, AL	3.0	2.0	1489	$1,600	$1.07	13d	1	1.47mi
3543 Carter Hill Rd Montgomery, AL	1.0–3.0	1.0–2.0	1120	$925	$0.83	13d	16	1.48mi

Listing history 6 events

1. 2026-06-18
   days on market $154,900 Active 6 DOM
2. 2026-06-17
   days on market $154,900 Active 5 DOM
3. 2026-06-16
   days on market $154,900 Active 4 DOM
4. 2026-06-15
   days on market $154,900 Active 3 DOM
5. 2026-06-13
   remarks 154-char remark
6. 2026-06-13
   listed $154,900 Active 1 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: $1,341 · $112/mo
• Projected year-2 tax: $1,341 · $112/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 ≥108°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: $18,576
• − Mortgage interest: −$8,677
• − Property taxes: −$1,341
• − Insurance: −$774
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$4,506
• Taxable income: $306
• Est. tax owed @ 24.0%: −$73
• After-tax cash flow: $2,739/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): 14,065
• Household income: $69,087
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 876.0

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 0.58)
• Race & ethnicity: White 47% Black 43% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 3%

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: ▼ -22.82%
• Current HPI: 151.1822
• Rent YoY: ▲ 6.29%
• 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

+34.7% since first listed

4 events — show timeline

• 2026-06-12 Listed $154,900 Greater Alabama MLS
• 2021-12-28 Sold (Public Records) $104,000 Public Records
• 2021-12-21 Sold (MLS) $104,000 MAAR
• 2021-11-22 Listed $115,000 MAAR

Property tax history

+13.2%/yr

Latest (2025): $1,341 · +7.0% YoY. Source: county tax records.