4097 Narrow Lane Rd · Montgomery, AL 36111

$174,900

6 bd · 2.0 ba · 3,852 sqft · MultiFamily public records · 139 Days on market

Built 1950 0.30 ac lot $45/sqft · 59% below area

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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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

Key facts

• Open floor plan
• Full kitchen
• New cabinets

Tags

• FULL KITCHEN
• UPDATED KITCHEN
• GRANITE TILE COUNTERTOPS
• NEW CABINETS
• OPEN FLOOR PLAN
• LAMINATE WOOD FLOORING

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $175k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% 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: 114 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y 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 $54k; list at $175k implies a 223% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% 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 $153,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.53% ✓
• Cap rate: 13.41%
• Cash-on-cash: 25.40%
• DSCR: 2.13
• GRM: 5.4

CMA / ARV

• ARV (median comp): $425,723
• List price: $174,900
• Delta: -58.92%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 18.9%
• Equity multiple: 1.77×
• Total profit: $37,644
• Equity at exit: $26,078

10-year hold

• IRR: 27.3%
• Equity multiple: 3.40×
• Total profit: $117,646
• Equity at exit: $15,122

Cash invested: $48,972 (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 36111

• Home prices YoY: -6.9%
• Active inventory: 114
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,684 high
• Mortgage (P&I): −$917
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$564
• Net cashflow: $1,037

Break-even live

Break-even rent $1,372

Max offer price $174,900

Occupancy floor 56%

Sensitivity live

Price	-10% $1,136	-5% $1,086	+0% $1,037	+5% $987	+10% $938
Rent	-10% $825	-5% $931	+0% $1,037	+5% $1,143	+10% $1,249
Rate	-1.0pp $1,125	-0.5pp $1,081	base $1,037	+0.5pp $991	+1.0pp $945

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	2	$1,235
1× unit	4	3	$1,449
Total (2 units)			$2,684

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1038 Glen Grattan Dr Unit C Montgomery, AL	5.0	4.5	4400	$750	$0.17	45d	1	1.07mi
640 Plymouth St Montgomery, AL	5.0	3.0	3224	$2,400	$0.74	22d	1	1.47mi

Listing history 47 events

1. 2026-06-21
   days on market $174,900 Active 139 DOM
2. 2026-06-18
   days on market $174,900 Active 136 DOM
3. 2026-06-17
   days on market $174,900 Active 135 DOM
4. 2026-06-16
   days on market $174,900 Active 134 DOM
5. 2026-06-15
   days on market $174,900 Active 133 DOM
6. 2026-06-14
   days on market $174,900 Active 131 DOM
7. 2026-06-13
   days on market $174,900 Active 130 DOM
8. 2026-06-10
   days on market $174,900 Active 128 DOM
9. 2026-06-09
   days on market $174,900 Active 127 DOM
10. 2026-06-08
    days on market $174,900 Active 126 DOM
11. 2026-06-07
    days on market $174,900 Active 125 DOM
12. 2026-06-03
    days on market $174,900 Active 121 DOM
13. 2026-06-02
    days on market $174,900 Active 120 DOM
14. 2026-06-01
    days on market $174,900 Active 119 DOM
15. 2026-05-31
    days on market $174,900 Active 118 DOM
16. 2026-05-30
    days on market $174,900 Active 117 DOM
17. 2026-05-03
    status Active 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

18. 2026-04-24
    historical Contingent 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

19. 2026-03-09
    status Active 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

20. 2026-03-08
    historical Contingent 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

21. 2026-02-26
    price $174,900 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

22. 2026-02-02
    listed $179,900 Active 839-char remark

    Show marketing remark (839 chars)

    This home has previously been used as a duplex, offering a flexible layout suitable for multi-generational living or investment use. Left-side unit: A 2 bedroom, 2 bathroom unit with its own full kitchen and living room. This unit is equipped with space heaters and window units. Main/front unit: Accessed through the front doors, this larger unit features 4 bedrooms and 3 full bathrooms with an updated kitchen including granite tile countertops, new cabinets, and an open floor plan between the living room and kitchen. Additional highlights include laminate wood flooring throughout, balcony access from one bedroom, a downstairs living room, and a spacious primary suite with a walk-in closet and vaulted ceiling. This unique setup provides multiple use options depending on buyer needs. Located right behind Baptist South Hospital.

23. 2025-09-12
    price $167,400
24. 2025-08-09
    status Active
25. 2025-08-09
    price $169,900
26. 2025-07-14
    price $174,900
27. 2025-07-01
    price $183,900
28. 2025-06-13
    price $189,900
29. 2025-05-17
    price $194,900
30. 2025-05-17
    listed $189,900 Active
31. 2025-04-26
    price $199,900
32. 2025-04-01
    price $209,900
33. 2025-03-24
    price $214,900
34. 2025-03-14
    price $229,900
35. 2024-12-29
    price $214,900
36. 2024-12-13
    price $219,900
37. 2024-12-06
    price $225,900
38. 2024-11-19
    price $229,900
39. 2024-10-26
    price $234,900
40. 2024-10-13
    price $239,900
41. 2023-05-21
    historical $850
42. 2022-05-31
    price $850
43. 2021-11-09
    listed $159,900
44. 2018-07-30
    soldstatus $54,200
45. 2018-07-26
    soldstatus $54,000
46. 2017-10-27
    listed $68,000
47. 2017-01-24
    listed $98,510

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,124 · $94/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 7/10 Severe 78% 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: $32,208
• − Mortgage interest: −$9,797
• − Property taxes: −$1,124
• − Insurance: −$874
• − Repairs & maintenance: −$2,577
• − Management: −$2,577
• − Depreciation: −$5,088
• Taxable income: $10,171
• Est. tax owed @ 24.0%: −$2,441
• After-tax cash flow: $9,998/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
• City population: 175,913
• Population (ZIP): 12,196

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: Majority Black (60%)
• Race & ethnicity: Black 60% White 34% Asian 3% Hispanic / Latino 2% Two or more races 2%
• Common ancestry: Slovak 2% Serbian 2% Italian 1%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 1% Chinese 1%

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: ▼ -11.63%
• Current HPI: 156.4412
• 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

+77.5% since first listed

31 events — show timeline

• 2026-05-03 Relisted — MAAR
• 2026-04-24 Contingent — MAAR
• 2026-03-09 Relisted — MAAR
• 2026-03-08 Contingent — MAAR
• 2026-02-26 Price Changed $174,900 MAAR
• 2026-02-02 Listed $179,900 MAAR
• 2025-09-12 Price Changed $167,400 MAAR
• 2025-08-09 Relisted — MAAR
• 2025-08-09 Price Changed $169,900 MAAR
• 2025-07-14 Price Changed $174,900 MAAR
• 2025-07-01 Price Changed $183,900 MAAR
• 2025-06-13 Price Changed $189,900 MAAR
• 2025-05-17 Price Changed $194,900 MAAR
• 2025-05-17 Listed $189,900 MAAR
• 2025-04-26 Price Changed $199,900 Greater Alabama MLS
• 2025-04-01 Price Changed $209,900 Greater Alabama MLS
• 2025-03-24 Price Changed $214,900 Greater Alabama MLS
• 2025-03-14 Price Changed $229,900 Greater Alabama MLS
• 2024-12-29 Price Changed $214,900 Greater Alabama MLS
• 2024-12-13 Price Changed $219,900 Greater Alabama MLS
• 2024-12-06 Price Changed $225,900 Greater Alabama MLS
• 2024-11-19 Price Changed $229,900 Greater Alabama MLS
• 2024-10-26 Price Changed $234,900 Greater Alabama MLS
• 2024-10-13 Price Changed $239,900 Greater Alabama MLS
• 2023-05-21 Rental Removed $850 RENT.
• 2022-05-31 Price Changed $850 RENT.
• 2021-11-09 Listed $159,900 MAAR
• 2018-07-30 Sold (Public Records) $54,200 Public Records
• 2018-07-26 Sold (MLS) $54,000 MAAR
• 2017-10-27 Listed $68,000 MAAR
• 2017-01-24 Listed $98,510 MAAR

Property tax history

+9.8%/yr

Latest (2025): $1,124 · +0.8% YoY. Source: county tax records.