407 Seminole St · Mobile, AL 36606

$99,000

2 bd · 1.0 ba · 870 sqft · SingleFamily public records · 82 Days on market

Built 1940 7,278 sqft lot $114/sqft · 91% above area

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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 +25.9/30.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming midtown home with freshly refinished hardwood floors and updated flooring and fresh paint throughout. Refreshed kitchen and bath are ready to be enjoyed! Home comes with gas range and refrigerator. Home has new electric hot water heater, new electric panel and lots of insulation blown in the attic. There is a also a new architectural shingle roof. Indoor laundry room with storage cabinets is at the back of the home. There is a nice sized privacy fenced backyard with storage building with metal roof and roll up garage door. Relax on the covered, screened side porch just off of the den with view of the front and backyard. Close proximity to parks, shopping, and entertainment. Public Safety Park and a Wave Transit stop are a just a few feet away! Low traffic street. Call your agent to take a look.

Key facts

• Updated flooring
• Refreshed kitchen
• 7,278 sq ft lot

Tags

• UPDATED FLOORING
• REFRESHED KITCHEN
• PRIVATE FENCED BACKYARD
• COVERED SCREENED SIDE PORCH
• CLOSE PROXIMITY TO PARKS
• CLOSE PROXIMITY TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $93k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: Rents rising fast (+5.1%/yr); 174 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Mobile 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 + 5.1% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($93k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $11k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% 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 $93,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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: 1.08% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.53%
• DSCR: 1.47
• GRM: 7.7

CMA / ARV

• ARV (median comp): $51,923
• List price: $99,000
• Delta: 90.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
419 Crenshaw St	0.12mi	3/1.0 (+1)	872 (+0%)	3mo	$36,000	$41	86
460 Pinehill Dr	0.23mi	3/1.0 (+1)	864 (-1%)	3mo	$51,500	$60	81
559 Westwood St	0.08mi	2/1.0	968 (+11%)	3mo	$37,000	$38	75
216 Pinehill Dr	0.42mi	2/1.0	831 (-4%)	5mo	$168,500	$203	69
169 Morgan Ave	0.48mi	2/1.0	830 (-5%)	2mo	$115,000	$139	68
702 Glenwood St	0.48mi	2/1.0	889 (+2%)	7mo	$40,000	$45	68
2453 Richard Ave	0.54mi	3/1.0 (+1)	922 (+6%)	1mo	$169,000	$183	60
167 Crenshaw St	0.52mi	2/1.0	946 (+9%)	4mo	$213,500	$226	58
2565 Kreitner St	0.61mi	2/1.0	915 (+5%)	8mo	$149,999	$164	56
116 Mohawk St	0.65mi	2/1.0	822 (-6%)	5mo	$125,000	$152	56
731 Jemison St	0.59mi	2/1.0	951 (+9%)	2mo	$75,531	$79	56
753 Shannon St	0.74mi	3/1.0 (+1)	984 (+13%)	7mo	$85,000	$86	33

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 · 5.06% rent growth · sell at horizon

5-year hold

• IRR: 1.6%
• Equity multiple: 1.06×
• Total profit: $1,689
• Equity at exit: $14,761

10-year hold

• IRR: 12.9%
• Equity multiple: 2.12×
• Total profit: $31,008
• Equity at exit: $8,560

Cash invested: $27,720 (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 36606

• Rents YoY: 5.1%
• Active inventory: 174
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$519
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $243

Break-even live

Break-even rent $766

Max offer price $99,000

Occupancy floor 72%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Westwood St Mobile, AL	1.0–2.0	1.0	750	$1,005	$1.34	44d	1	0.06mi
562 Clarke St Mobile, AL	2.0	1.0	1061	$1,025	$0.97	44d	1	0.20mi
728 Bankhead Pl Mobile, AL	2.0	1.0	810	$675	$0.83	44d	1	0.50mi
2503 Richard Ave Mobile, AL	2.0	1.0	928	$805	$0.87	14d	1	0.59mi
2656 Pathway Pl Mobile, AL	2.0–3.0	1.0	778	$949	$1.22	14d	9	0.63mi
2500 Taylor Ave Mobile, AL	2.0	1.0	840	$1,195	$1.42	44d	1	0.65mi
767 Jemison St Mobile, AL	2.0	1.0	850	$750	$0.88	44d	1	0.66mi
104 Ellinor St Mobile, AL	2.0	1.0	896	$1,275	$1.42	21d	1	0.73mi
2008 W Victory Dr Mobile, AL	3.0	1.0	1011	$1,200	$1.19	44d	1	0.75mi
2161 Homewood St Unit B Mobile, AL	1.0	1.0	600	$1,295	$2.16	21d	1	0.80mi
900 Courtney St Mobile, AL	2.0	1.0	1020	$1,200	$1.18	44d	1	0.85mi
442 Cottage Hill Rd Unit 13 Mobile, AL	1.0	1.0	637	$860	$1.35	44d	1	0.92mi
461 Magnolia Rd Unit A Mobile, AL	2.0	1.0	989	$825	$0.83	44d	1	0.98mi
168 W Collins St Mobile, AL	3.0	1.0	968	$725	$0.75	21d	1	1.06mi
2859 Brierwood Dr Mobile, AL	3.0	1.0	1057	$1,500	$1.42	14d	1	1.10mi
2604 Dauphin St #210 Mobile, AL	2.0	1.0	950	$1,150	$1.21	21d	1	1.17mi
2604 Dauphin St Mobile, AL	2.0	1.0	950	$1,072	$1.13	44d	2	1.17mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	44d	1	1.29mi
276 S Sage Ave Mobile, AL	1.0–2.0	1.0	850	$1,055	$1.24	44d	1	1.30mi
2904 Pleasant Valley Rd Mobile, AL	2.0	1.0	815	$899	$1.10	44d	1	1.32mi
751 Farnell Ln Mobile, AL	2.0	1.0	1100	$1,400	$1.27	44d	1	1.35mi
2901 Pleasant Valley Rd Mobile, AL	1.0	1.0	578	$775	$1.34	44d	1	1.36mi
505 Bel Air Blvd Mobile, AL	1.0–2.0	1.0–2.0	976	$1,274	$1.30	14d	16	1.41mi
2425 Nortons Ln Unit C Mobile, AL	2.0	1.0	1050	$1,200	$1.14	44d	1	1.42mi
2425 Nortons Ln Unit D Mobile, AL	2.0	1.0	1050	$1,100	$1.05	14d	1	1.42mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	44d	1	1.43mi
957 Navco Rd Mobile, AL	2.0	1.5	812	$850	$1.05	21d	1	1.48mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,062	$1.63	44d	1	1.50mi

Listing history 32 events

1. 2026-06-19
   status $99,000 Pending 82 DOM
2. 2026-06-18
   days on market $99,000 Active 82 DOM
3. 2026-06-17
   days on market $99,000 Active 81 DOM
4. 2026-06-16
   days on market $99,000 Active 80 DOM
5. 2026-06-15
   days on market $99,000 Active 79 DOM
6. 2026-06-14
   days on market $99,000 Active 77 DOM
7. 2026-06-13
   days on market $99,000 Active 76 DOM
8. 2026-06-10
   days on market $99,000 Active 74 DOM
9. 2026-06-09
   pricedays on market $99,000 Active 73 DOM
10. 2026-06-08
    days on market $109,750 Active 72 DOM
11. 2026-06-07
    days on market $109,750 Active 71 DOM
12. 2026-06-05
    days on market $109,750 Active 68 DOM
13. 2026-06-03
    days on market $109,750 Active 67 DOM
14. 2026-06-02
    days on market $109,750 Active 66 DOM
15. 2026-06-01
    days on market $109,750 Active 65 DOM
16. 2026-05-31
    days on market $109,750 Active 64 DOM
17. 2026-05-30
    days on market $109,750 Active 63 DOM
18. 2026-05-17
    status Active 816-char remark

    Show marketing remark (816 chars)

    Charming midtown home with freshly refinished hardwood floors and updated flooring and fresh paint throughout. Refreshed kitchen and bath are ready to be enjoyed! Home comes with gas range and refrigerator. Home has new electric hot water heater, new electric panel and lots of insulation blown in the attic. There is a also a new architectural shingle roof. Indoor laundry room with storage cabinets is at the back of the home. There is a nice sized privacy fenced backyard with storage building with metal roof and roll up garage door. Relax on the covered, screened side porch just off of the den with view of the front and backyard. Close proximity to parks, shopping, and entertainment. Public Safety Park and a Wave Transit stop are a just a few feet away! Low traffic street. Call your agent to take a look.

19. 2026-05-13
    status Pending 816-char remark

    Show marketing remark (816 chars)

    Charming midtown home with freshly refinished hardwood floors and updated flooring and fresh paint throughout. Refreshed kitchen and bath are ready to be enjoyed! Home comes with gas range and refrigerator. Home has new electric hot water heater, new electric panel and lots of insulation blown in the attic. There is a also a new architectural shingle roof. Indoor laundry room with storage cabinets is at the back of the home. There is a nice sized privacy fenced backyard with storage building with metal roof and roll up garage door. Relax on the covered, screened side porch just off of the den with view of the front and backyard. Close proximity to parks, shopping, and entertainment. Public Safety Park and a Wave Transit stop are a just a few feet away! Low traffic street. Call your agent to take a look.

20. 2026-03-24
    listed $109,750 Active 816-char remark

    Show marketing remark (816 chars)

    Charming midtown home with freshly refinished hardwood floors and updated flooring and fresh paint throughout. Refreshed kitchen and bath are ready to be enjoyed! Home comes with gas range and refrigerator. Home has new electric hot water heater, new electric panel and lots of insulation blown in the attic. There is a also a new architectural shingle roof. Indoor laundry room with storage cabinets is at the back of the home. There is a nice sized privacy fenced backyard with storage building with metal roof and roll up garage door. Relax on the covered, screened side porch just off of the den with view of the front and backyard. Close proximity to parks, shopping, and entertainment. Public Safety Park and a Wave Transit stop are a just a few feet away! Low traffic street. Call your agent to take a look.

21. 2024-12-05
    historical $1,150
22. 2024-11-16
    listed $1,150
23. 2024-11-14
    historical $1,150
24. 2024-10-29
    price $139,000
25. 2024-10-26
    listed $1,150
26. 2024-09-29
    historical $1,150
27. 2024-08-18
    price $1,150
28. 2024-08-08
    price $1,265
29. 2024-08-02
    listed $1,350
30. 2024-01-02
    price $55,000
31. 2023-12-13
    price $57,500
32. 2023-12-04
    price $69,750

ⓘ 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: $532 · $44/mo
• Projected year-2 tax: $532 · $44/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 9/10 Extreme 7 d/yr ≥105°F today · 20 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: $12,881
• − Mortgage interest: −$5,546
• − Property taxes: −$532
• − Insurance: −$495
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$2,880
• Taxable income: $1,368
• Est. tax owed @ 24.0%: −$328
• After-tax cash flow: $2,591/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
• County: Mobile County · 246,577 people
• City population: 205,729
• Metro: Mobile, AL
• Population (ZIP): 18,728
• Household income: $51,303
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 999.0

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: Majority Black (56%)
• Race & ethnicity: Black 56% White 37% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Scottish 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -232.19%
• Current HPI: 145.9025
• Rent YoY: ▲ 5.06%
• Metro: Mobile, 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

+57.3% since first listed

15 events — show timeline

• 2026-05-17 Relisted — GCMLS AL
• 2026-05-13 Pending — GCMLS AL
• 2026-03-24 Listed $109,750 GCMLS AL
• 2024-12-05 Rental Removed $1,150 GCMLSAL
• 2024-11-16 Listed for Rent $1,150 GCMLSAL
• 2024-11-14 Rental Removed $1,150 GCMLSAL
• 2024-10-29 Price Changed $139,000 GCMLS AL
• 2024-10-26 Listed for Rent $1,150 GCMLSAL
• 2024-09-29 Rental Removed $1,150 GCMLSAL
• 2024-08-18 Price Changed $1,150 GCMLSAL
• 2024-08-08 Price Changed $1,265 GCMLSAL
• 2024-08-02 Listed for Rent $1,350 GCMLSAL
• 2024-01-02 Price Changed $55,000 GCMLS AL
• 2023-12-13 Price Changed $57,500 GCMLS AL
• 2023-12-04 Price Changed $69,750 GCMLS AL

Property tax history

+15.5%/yr

Latest (2025): $532 · +21.4% YoY. Source: county tax records.