5023 Freeway Ln · Tillmans Corner, AL 36619

$179,000

3 bd · 1.5 ba · 1,196 sqft · SingleFamily public records · 447 Days on market

Built 1971 0.35 ac lot $150/sqft · at area comps Est $172k · at est.

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Why this score? — see what drove the D 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 +17.3/30.0
• ARV discount +5.6/15.0
• DSCR +5.4/10.0
• 1% rule +3.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

Key facts

• Generously sized lot
• Well-maintained yard
• Convenient location

Tags

• GENEROUSLY SIZED LOT
• WELL-MAINTAINED YARD
• MATURE TREES
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/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 $149k (16.5% below list).
• Recommended offer: $149k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 5.1% in Tillmans Corner — 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 61/100 on livability (#260 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• 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.
• Zoned schools: Wc Griggs Elementary School (math 18% / reading 52%, grade F, #291 of 627 statewide, top 47%, 619 students, 77% FRL); Katherine H Hankins Middle School (math 7% / reading 38%, grade F, #180 of 257 statewide, top 70%, 808 students, 82% FRL); Theodore High School (math 10% / reading 12%, grade F, #247 of 305 statewide, top 81%, 1,280 students, 60% FRL).
• Market conditions: 143 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 447 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $179k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $149,497 (16.5% below list)

Questions for the listing agent

1. It's been on market 447 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1971 — 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 F-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 D 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.84% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.11%
• DSCR: 1.14
• GRM: 10.0

CMA / ARV

• ARV (median comp): $171,712
• List price: $179,000
• Delta: 4.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5089 Guinevere Dr	0.53mi	3/2.0	1,222 (+2%)	3mo	$95,000	$78	67
4950 Santos Dr E	0.17mi	4/2.0 (+1)	1,326 (+11%)	8mo	$179,000	$135	60
6626 Three Notch Rd	0.60mi	3/1.5	1,134 (-5%)	10mo	$80,000	$71	55
5171 Fairland Dr	0.53mi	3/2.0	1,328 (+11%)	1mo	$260,952	$197	54
6716 Three Notch Rd	0.73mi	3/2.0	1,182 (-1%)	11mo	$120,000	$102	53
5161 Fairland Dr	0.52mi	3/2.0	1,350 (+13%)	5mo	$264,000	$196	48
5161 Lancelot Dr	0.72mi	3/2.0	1,307 (+9%)	2mo	$228,000	$174	48
5432 Quail Run E	0.62mi	3/2.0	1,292 (+8%)	12mo	$175,000	$135	45
5433 Quail Run E	0.60mi	3/2.0	1,292 (+8%)	16mo	$174,900	$135	44
5503 Quail Run E	0.73mi	3/2.0	1,244 (+4%)	18mo	$174,000	$140	43
6640 Merlin Dr	0.67mi	3/1.5	1,300 (+9%)	16mo	$110,000	$85	41
6325 Old Pascagoula Rd	0.67mi	3/2.0	1,366 (+14%)	13mo	$118,000	$86	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-20,833
• Equity at exit: $26,689

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-7,871
• Equity at exit: $15,477

Cash invested: $50,120 (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 36619

• Home prices YoY: -20.8%
• Active inventory: 143
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$939
• Tax from tax record: −$38 /mo · $456/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $130

Break-even live

Break-even rent $1,331

Max offer price $179,000

Occupancy floor 86%

Sensitivity live

Price	-10% $231	-5% $180	+0% $130	+5% $79	+10% $28
Rent	-10% $12	-5% $71	+0% $130	+5% $189	+10% $248
Rate	-1.0pp $220	-0.5pp $175	base $130	+0.5pp $83	+1.0pp $36

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5417 Quail Run E Theodore, AL	3.0	2.0	1242	$1,600	$1.29	23d	1	0.60mi
5920 Windy Hill Cir S Mobile, AL	3.0	1.0	960	$1,300	$1.35	23d	1	0.92mi

Listing history 8 events

1. 2026-05-20
   status Pending 964-char remark

   Show marketing remark (964 chars)

   Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

2. 2026-02-26
   status Active 964-char remark

   Show marketing remark (964 chars)

   Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

3. 2026-02-13
   status Pending 964-char remark

   Show marketing remark (964 chars)

   Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

4. 2026-01-08
   price $179,000 964-char remark

   Show marketing remark (964 chars)

   Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

5. 2025-02-14
   listed $189,900 Active 964-char remark

   Show marketing remark (964 chars)

   Exceptional Investment Opportunity or Starter Home in Mobile, AL! Welcome to 5023 Freeway Ln, a 3-bedroom, 1.5-bathroom single-family home offering 1,211 sq. ft. of living space. Built in 1971, this property combines timeless charm with outstanding potential, making it an ideal choice for both first-time homebuyers and investors seeking a reliable rental property. Situated on a generously sized lot, the property boasts a well-maintained yard with mature trees, providing a welcoming outdoor space for relaxation or entertaining. The practical layout is perfect for comfortable living or tenant occupancy, while the convenient location near major highways, shopping, schools, and local amenities ensures easy accessibility for any lifestyle. Whether you’re looking to expand your investment portfolio or settle into a welcoming community, this home offers a unique opportunity. Don’t miss your chance—schedule a private tour today!

6. 2010-02-26
   soldstatus $94,100
7. 2008-11-05
   soldstatus $92,500
8. 2008-06-24
   soldstatus $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: $456 · $38/mo
• Projected year-2 tax: $734 · $61/mo
• Expected delta: +$278/yr (+$23/mo · 61.0%)

ⓘ 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 9/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,940
• − Mortgage interest: −$10,027
• − Property taxes: −$456
• − Insurance: −$895
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$5,207
• Taxable loss: −$1,516
• Est. tax savings @ 24.0%: +$364
• After-tax cash flow: $1,921/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 — Tillmans Corner

• Score: 61/100
• State rank: #260
• US rank: #18090

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment D- Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tillmans Corner, AL
• City population: 14,550
• Population (ZIP): 14,550

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 White (74%)
• Race & ethnicity: White 74% Black 11% Two or more races 6% Hispanic / Latino 6% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Romanian 1% Portuguese 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 90% English-only · Vietnamese 5% Spanish 4% French/Haitian/Cajun 1%

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: ▼ -51.67%
• Current HPI: 197.1074
• 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

+145.2% since first listed

8 events — show timeline

• 2026-05-20 Pending — GCMLS AL
• 2026-02-26 Relisted — GCMLS AL
• 2026-02-13 Pending — GCMLS AL
• 2026-01-08 Price Changed $179,000 GCMLS AL
• 2025-02-14 Listed $189,900 GCMLS AL
• 2010-02-26 Sold (Public Records) $94,100 Public Records
• 2008-11-05 Sold (Public Records) $92,500 Public Records
• 2008-06-24 Sold (Public Records) $73,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $456 · +3.8% YoY. Source: county tax records.