600 Forest Ave · Mobile, AL 36617

$69,900

3 bd · 1.0 ba · 1,070 sqft · Other public records · 64 Days on market

Built 2000 Good condition 5,140 sqft lot ↓ 4% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.4/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Great Investment Opportunity! 3-bedroom, 2-bath home offers a open floor plan perfect for everyday living. Featuring vinyl flooring throughout and a functional kitchen with Formica countertops, this home is both practical and inviting. Spacious bedrooms include walk-in closets, providing ample storage. Conveniently located near shopping, and restaurants, with easy access to I-65, this property offers endless possibilities. Previously tenant-occupied, this home presents an excellent opportunity for investors seeking a buy-and-hold rental or for buyers looking for an affordable property to call home. Don’t miss your chance to secure a property with great potential!

Key facts

• 5,140 sq ft lot
• 2 parking spots
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.6% vs local median 4.9% in Mobile — 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 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: schools D-, 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.
• Market conditions: 40 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($483 loan paydown + $3k 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 $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.58% ✓
• Cap rate: 13.61%
• Cash-on-cash: 26.15%
• DSCR: 2.16
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 31.7%
• Equity multiple: 2.95×
• Total profit: $38,188
• Equity at exit: $38,668

10-year hold

• IRR: 30.4%
• Equity multiple: 5.91×
• Total profit: $96,133
• Equity at exit: $65,968

Cash invested: $19,572 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,107 high
• Mortgage (P&I): −$367
• Tax from tax record: −$52 /mo · $630/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $360

Break-even live

Break-even rent $651

Max offer price $69,900

Occupancy floor 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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38 Flock Ave Mobile, AL	2.0	1.0	849	$795	$0.94	43d	1	1.15mi
708 Bond St Mobile, AL	3.0	1.0	1100	$1,350	$1.23	21d	1	1.35mi
672 Burden St Mobile, AL	3.0	1.5	1421	$1,300	$0.91	21d	1	1.35mi
519 Bay Bridge Rd Unit B Prichard, AL	2.0	1.0	1000	$925	$0.93	43d	1	1.37mi
2966 Northwest Dr Mobile, AL	3.0	1.0	792	$895	$1.13	21d	1	1.40mi
510 Schwartz St Mobile, AL	3.0	2.0	1288	$1,400	$1.09	13d	1	1.40mi
408 Rawls Ave Mobile, AL	2.0	1.0	1032	$1,100	$1.07	13d	1	1.46mi

Listing history 8 events

1. 2026-06-02
   days on market $69,900 Active 64 DOM
2. 2026-06-01
   days on market $69,900 Active 63 DOM
3. 2026-05-31
   days on market $69,900 Active 62 DOM
4. 2026-05-30
   days on market $69,900 Active 61 DOM
5. 2026-03-30
   listed $69,900 Active 677-char remark

   Show marketing remark (677 chars)

   Great Investment Opportunity! 3-bedroom, 2-bath home offers a open floor plan perfect for everyday living. Featuring vinyl flooring throughout and a functional kitchen with Formica countertops, this home is both practical and inviting. Spacious bedrooms include walk-in closets, providing ample storage. Conveniently located near shopping, and restaurants, with easy access to I-65, this property offers endless possibilities. Previously tenant-occupied, this home presents an excellent opportunity for investors seeking a buy-and-hold rental or for buyers looking for an affordable property to call home. Don’t miss your chance to secure a property with great potential!

6. 2025-07-24
   price $69,900
7. 2025-07-23
   price $71,000
8. 2025-07-16
   price $73,000

ⓘ 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: $630 · $52/mo
• Projected year-2 tax: $630 · $52/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 8/10 Severe FEMA zone X (shaded) · 99% 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: $13,286
• − Mortgage interest: −$3,915
• − Property taxes: −$630
• − Insurance: −$1,147
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$2,033
• Taxable income: $3,434
• Est. tax owed @ 24.0%: −$824
• After-tax cash flow: $3,496/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 · 11 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bath home offers a good investment opportunity with a good condition and a good rehab level. It is ready for a fresh coat of paint and some minor updates to increase its value.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace ceiling fans with energy-efficient models — Modern fans improve air circulation and reduce energy costs
• Both Install new kitchen appliances — Upgraded appliances increase functionality and appeal
• Both Add landscaping around the front yard — Landscaping enhances curb appeal and adds value
• Both Install new light fixtures — Modern lighting enhances safety and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace ceiling fans with energy-efficient models — Modern fans improve air circulation and reduce energy costs ↑
• Both Install new kitchen appliances — Upgraded appliances increase functionality and appeal ↑
• Both Add landscaping around the front yard — Landscaping enhances curb appeal and adds value ↑
• Both Install new light fixtures — Modern lighting enhances safety and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-4.2% since first listed

4 events — show timeline

• 2026-03-30 Listed $69,900 GCMLS AL
• 2025-07-24 Price Changed $69,900 GCMLS AL
• 2025-07-23 Price Changed $71,000 GCMLS AL
• 2025-07-16 Price Changed $73,000 GCMLS AL

Property tax history

+0.9%/yr

Latest (2025): $630 · -0.8% YoY. Source: county tax records.