1107 Noremac Rd · Montgomery, AL 36109

$45,700

3 bd · 2.0 ba · 1,927 sqft · SingleFamily public records

Built 1960 0.27 ac lot ↓ 50% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT HOME IN LAKEVIEW HEIGHTS. LIVING ROOM AND DINING ROOM COMBINATION; DEN WITH FIREPLACE; FLORIDA ROOM AND OUTSIDE STORAGE BUIDING OR WORKSHOP

Key facts

• 0.27 acre lot
• Parking
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $865 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $46k).
• Cap rate 29.0% 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: schools C-, employment D, crime F.
• 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.
• Market conditions: Rents rising (+2.6%/yr); 207 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 31% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $316 of loan paydown is wiped out by about $1k 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 + 2.6% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• 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 $45,700

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 3.39% ✓
• Cap rate: 29.01%
• Cash-on-cash: 81.12%
• DSCR: 4.61
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $175,357
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3336 Harrison Rd	0.15mi	3/2.0	1,816 (-6%)	4mo	$71,000	$39	80
914 Karen Rd	0.32mi	3/2.0	1,884 (-2%)	6mo	$165,000	$88	77
1137 Lakewood Dr	0.22mi	3/2.0	1,860 (-4%)	9mo	$169,900	$91	76
3307 Habersham Rd	0.24mi	4/2.0 (+1)	1,997 (+4%)	9mo	$140,000	$70	71
823 Dumont Dr	0.43mi	4/2.0 (+1)	1,886 (-2%)	2mo	$175,000	$93	70
1708 Fairforest Dr	0.67mi	4/2.0 (+1)	2,012 (+4%)	0mo	$235,000	$117	56
843 Greg Dr	0.66mi	3/2.0	1,816 (-6%)	5mo	$100,000	$55	56
812 Dumont Dr	0.43mi	3/2.0	1,709 (-11%)	8mo	$173,000	$101	54
3113 Malone Dr	0.65mi	2/2.0 (-1)	1,858 (-4%)	8mo	$160,000	$86	52
3142 Whitney Dr	0.68mi	4/2.0 (+1)	2,048 (+6%)	3mo	$240,000	$117	50
3734 Duquesne Dr	0.56mi	3/2.0	1,644 (-15%)	4mo	$170,000	$103	46
525 Avondale Rd	0.72mi	3/2.0	1,731 (-10%)	6mo	$155,000	$90	44

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 · 2.65% rent growth · sell at horizon

5-year hold

• IRR: 81.0%
• Equity multiple: 4.69×
• Total profit: $47,196
• Equity at exit: $6,814

10-year hold

• IRR: 84.3%
• Equity multiple: 9.60×
• Total profit: $110,028
• Equity at exit: $3,951

Cash invested: $12,796 (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 36109

• Home prices YoY: -20.1%
• Rents YoY: 2.6%
• Active inventory: 207
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,547 high
• Mortgage (P&I): −$240
• Tax from tax record: −$98 /mo · $1,180/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $865

Break-even live

Break-even rent $452

Max offer price $45,700

Occupancy floor 39%

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: $11,425
• Closing costs: $1,371
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3359 Bedford Ln Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	13d	1	0.07mi
1117 Karen Rd Montgomery, AL	3.0	1.0	1308	$1,195	$0.91	43d	1	0.16mi
1216 Karen Rd Montgomery, AL	3.0	2.0	1620	$1,350	$0.83	13d	1	0.26mi
1229 Karen Rd Montgomery, AL	4.0	2.0	1344	$1,590	$1.18	43d	1	0.31mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	13d	1	0.34mi
844 Sir Michael Dr Montgomery, AL	4.0	2.0	1502	$1,650	$1.10	43d	1	0.44mi
817 Dumont Dr Montgomery, AL	3.0	2.0	1635	$1,800	$1.10	13d	1	0.46mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	43d	1	0.48mi
1216 Beechdale Rd Montgomery, AL	4.0	2.0	1495	$1,325	$0.89	43d	1	0.55mi
908 Greg Dr Montgomery, AL	3.0	1.0	1520	$1,100	$0.72	21d	1	0.56mi
895 Greg Dr Montgomery, AL	3.0	2.0	1489	$1,600	$1.07	13d	1	0.60mi
860 Greg Dr Montgomery, AL	3.0	2.0	1400	$1,295	$0.93	13d	1	0.63mi
688 Joryne Dr Montgomery, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	0.69mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	21d	1	0.71mi
1738 Fairforest Dr Montgomery, AL	3.0	2.0	2166	$1,895	$0.87	43d	1	0.74mi
1827 Pinecrest Dr Montgomery, AL	4.0	3.0	1893	$1,550	$0.82	13d	1	0.82mi
3602 Little John Dr Montgomery, AL	4.0	1.0	1286	$1,400	$1.09	21d	1	0.85mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	0.86mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	0.93mi
1814 Sylvan Dr Montgomery, AL	3.0	2.0	1785	$1,400	$0.78	21d	1	0.94mi
1839 Robison Hill Rd Montgomery, AL	4.0	2.0	1370	$1,550	$1.13	21d	1	0.96mi
750 S Marquette Dr Montgomery, AL	3.0	1.0	1325	$1,195	$0.90	43d	1	0.97mi
3692 Fairfield Dr Montgomery, AL	3.0	2.0	1524	$1,400	$0.92	21d	1	1.01mi
3352 Ridgefield Dr Montgomery, AL	3.0	2.0	1932	$1,761	$0.91	21d	1	1.03mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	13d	1	1.06mi
2929 Canterbury Ct Unit 1043474P Montgomery, AL	4.0	2.5	2464	$2,667	$1.08	21d	1	1.07mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	43d	1	1.08mi
2983 Old Farm Rd Montgomery, AL	3.0	2.0	2000	$1,725	$0.86	21d	1	1.10mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	43d	1	1.10mi
1842 Gillespie Dr Montgomery, AL	4.0	2.0	1620	$1,650	$1.02	43d	1	1.12mi
239 Forest Hills Dr Montgomery, AL	4.0	1.5	1500	$1,450	$0.97	21d	1	1.12mi
2988 Old Farm Rd Montgomery, AL	3.0	2.5	2314	$1,900	$0.82	43d	1	1.12mi
572 Farmington Rd Montgomery, AL	3.0	2.0	2106	$1,495	$0.71	43d	1	1.14mi
560 Farmington Rd Montgomery, AL	4.0	2.0	2161	$1,695	$0.78	13d	1	1.15mi
2014 Commodore St Montgomery, AL	3.0	2.0	1613	$1,450	$0.90	13d	1	1.18mi
1516 Charleton Dr Montgomery, AL	3.0	2.0	1895	$1,650	$0.87	43d	1	1.22mi
2053 Gorgas St Montgomery, AL	3.0	1.0	1955	$1,200	$0.61	21d	1	1.24mi
18 Oak Forest Dr Montgomery, AL	3.0	2.0	1580	$1,050	$0.66	21d	1	1.28mi
15 Bradley Dr Montgomery, AL	3.0	2.0	1365	$1,500	$1.10	21d	1	1.29mi
2045 Bullard St Unit 1043526P Montgomery, AL	3.0	2.0	1797	$2,198	$1.22	43d	1	1.30mi

Listing history 10 events

1. 2018-05-02
   historical
2. 2018-04-30
   soldstatus $45,000
3. 2017-10-17
   listed $45,700
4. 2006-10-06
   soldstatus $114,500
5. 2006-09-29
   soldstatus $114,500 145-char remark

   Show marketing remark (145 chars)

   GREAT HOME IN LAKEVIEW HEIGHTS. LIVING ROOM AND DINING ROOM COMBINATION; DEN WITH FIREPLACE; FLORIDA ROOM AND OUTSIDE STORAGE BUIDING OR WORKSHOP

6. 2006-08-14
   listed $115,000 145-char remark

   Show marketing remark (145 chars)

   GREAT HOME IN LAKEVIEW HEIGHTS. LIVING ROOM AND DINING ROOM COMBINATION; DEN WITH FIREPLACE; FLORIDA ROOM AND OUTSIDE STORAGE BUIDING OR WORKSHOP

7. 2001-07-27
   soldstatus $92,000 320-char remark

   Show marketing remark (320 chars)

   SELLER MOST ALWAYS OUT OF TOWN. .MUST SEE TO BELIEVE. .HOME WARRANTY ON PROPERTY. .NEW A/C 2000.. 16X21 FLORIDA RM. .ARCHITECTURAL SHINGLE ROOF 97. LARGE DEN. .BRICK HEARTH FP. .WATER HTR 97.. SELLER TRANSF - HELP! WONDERFUL PRIVATE YARD. .340 SF ADDITION NOT SHOWN IN TAX RECORD. . SELLER LOSING MONEY AT THIS PRICE. .

8. 2001-02-16
   listed $96,500 320-char remark

   Show marketing remark (320 chars)

   SELLER MOST ALWAYS OUT OF TOWN. .MUST SEE TO BELIEVE. .HOME WARRANTY ON PROPERTY. .NEW A/C 2000.. 16X21 FLORIDA RM. .ARCHITECTURAL SHINGLE ROOF 97. LARGE DEN. .BRICK HEARTH FP. .WATER HTR 97.. SELLER TRANSF - HELP! WONDERFUL PRIVATE YARD. .340 SF ADDITION NOT SHOWN IN TAX RECORD. . SELLER LOSING MONEY AT THIS PRICE. .

9. 2000-03-29
   soldstatus $88,500
10. 2000-01-03
    listed $89,900

ⓘ 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: $1,180 · $98/mo
• Projected year-2 tax: $1,180 · $98/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,564
• − Mortgage interest: −$2,560
• − Property taxes: −$1,180
• − Insurance: −$228
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$1,329
• Taxable income: $10,295
• Est. tax owed @ 24.0%: −$2,471
• After-tax cash flow: $7,910/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): 23,581
• Household income: $59,193
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1039.0

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 0.60)
• Race & ethnicity: White 49% Black 39% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -37.64%
• Current HPI: 149.3867
• Rent YoY: ▲ 2.65%
• 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

-49.9% since first listed

10 events — show timeline

• 2018-05-02 Delisted — MAAR
• 2018-04-30 Sold (Public Records) $45,000 Public Records
• 2017-10-17 Listed $45,700 MAAR
• 2006-10-06 Sold (Public Records) $114,500 Public Records
• 2006-09-29 Sold (MLS) $114,500 MAAR
• 2006-08-14 Listed $115,000 MAAR
• 2001-07-27 Sold (MLS) $92,000 MAAR
• 2001-02-16 Listed $96,500 MAAR
• 2000-03-29 Sold (MLS) $88,500 MAAR
• 2000-01-03 Listed $89,900 MAAR

Property tax history

+11.7%/yr

Latest (2025): $1,180 · -4.6% YoY. Source: county tax records.