403 Nottingham Rd · Montgomery, AL 36109

$48,000

3 bd · 1.0 ba · 1,450 sqft · SingleFamily public records · 121 Days on market

Built 1960 0.36 ac lot ↓ 31% 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
• 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

GOOD SIZE CORNER LOT, AND A NICE LOCATION, NEAR SCHOOLS AND PARKS. .. . PROPERTY HAS A CONVENTIONAL FOUNDATION, DRIVEWAY, ENCLOSED CARPORT, LAUNDRY ROOM, LIVING ROOM, KITCHEN, THREE BEDROOMS AND ONE FULL BATHROOM. .. . SYSTEMS ARE IN NEED OF SOME REPAIRS. .. . RIGHT OF REDEMPTION MAY APPLY. .. . AND BUYER TO VERIFY SCHOOL ZONES IF NEEDED. .. .

Key facts

• Near schools
• Enclosed carport
• Driveway

Tags

• CORNER LOT
• NEAR SCHOOLS
• NEAR PARKS
• CONVENTIONAL FOUNDATION
• DRIVEWAY
• ENCLOSED CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $827 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.0% 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $332 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

• It's been on market 121 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $17k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $42,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 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 1960 — 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 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: 2.99% ✓
• Cap rate: 26.96%
• Cash-on-cash: 73.81%
• DSCR: 4.28
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $137,750
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
403 Nottingham Rd	0.00mi	3/1.0	1,450 (0%)	0mo	$39,901	$28	100
664 Joryne Dr	0.09mi	3/2.0	1,363 (-6%)	1mo	$129,000	$95	81
3602 Little John Dr	0.14mi	3/1.0	1,286 (-11%)	4mo	$65,000	$51	72
887 Greg Dr	0.41mi	3/2.0	1,492 (+3%)	2mo	$150,000	$101	70
3700 Ramos Ct	0.15mi	3/2.0	1,232 (-15%)	3mo	$134,400	$109	62
753 Green Ridge Rd	0.32mi	3/2.0	1,634 (+13%)	3mo	$163,600	$100	57
809 Perry Hill Rd	0.59mi	3/1.0	1,545 (+7%)	5mo	$85,000	$55	57
815 Perry Hill Rd	0.61mi	3/1.0	1,303 (-10%)	0mo	$100,000	$77	54
3326 Vermont Dr	0.61mi	3/2.0	1,568 (+8%)	2mo	$80,000	$51	52
3734 Duquesne Dr	0.47mi	3/2.0	1,644 (+13%)	4mo	$170,000	$103	48
508 Forest Hills Dr	0.70mi	3/2.0	1,267 (-13%)	1mo	$55,500	$44	41
2933 Willow Lane Dr	0.67mi	3/2.0	1,234 (-15%)	6mo	$121,000	$98	34

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: 73.2%
• Equity multiple: 4.30×
• Total profit: $44,374
• Equity at exit: $7,157

10-year hold

• IRR: 76.9%
• Equity multiple: 8.77×
• Total profit: $104,408
• Equity at exit: $4,150

Cash invested: $13,440 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$252
• Tax from tax record: −$34 /mo · $410/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $827

Break-even live

Break-even rent $387

Max offer price $48,000

Occupancy floor 37%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
688 Joryne Dr Montgomery, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.13mi
3602 Little John Dr Montgomery, AL	4.0	1.0	1286	$1,400	$1.09	21d	1	0.17mi
3692 Fairfield Dr Montgomery, AL	3.0	2.0	1524	$1,400	$0.92	21d	1	0.24mi
860 Greg Dr Montgomery, AL	3.0	2.0	1400	$1,295	$0.93	14d	1	0.28mi
817 Dumont Dr Montgomery, AL	3.0	2.0	1635	$1,800	$1.10	14d	1	0.35mi
118 Nottingham Ct Montgomery, AL	3.0	2.0	1344	$1,275	$0.95	44d	1	0.38mi
844 Sir Michael Dr Montgomery, AL	4.0	2.0	1502	$1,650	$1.10	44d	1	0.40mi
895 Greg Dr Montgomery, AL	3.0	2.0	1489	$1,600	$1.07	14d	1	0.40mi
908 Greg Dr Montgomery, AL	3.0	1.0	1520	$1,100	$0.72	21d	1	0.42mi
3309 Hillcrest Ln Unit 1043908P Montgomery, AL	4.0	2.0	1625	$2,885	$1.78	21d	1	0.45mi
926 Green Ridge Ct Montgomery, AL	3.0	2.0	1665	$1,381	$0.83	14d	1	0.53mi
3515 Cottonwood Dr Montgomery, AL	3.0	1.5	1246	$1,350	$1.08	44d	1	0.53mi
3233 Hillcrest Ln Montgomery, AL	3.0	2.0	1278	$1,395	$1.09	21d	1	0.57mi
3456 Harrison Rd Montgomery, AL	3.0	1.0	1008	$1,300	$1.29	44d	1	0.61mi
239 Forest Hills Dr Montgomery, AL	4.0	1.5	1500	$1,450	$0.97	21d	1	0.61mi
3334 Cottonwood Dr Montgomery, AL	3.0	2.0	1025	$1,295	$1.26	14d	1	0.63mi
3329 Vermont Dr Montgomery, AL	3.0	1.5	1465	$1,395	$0.95	14d	1	0.66mi
401 Ridgewood Ln Montgomery, AL	3.0	2.0	1513	$1,195	$0.79	21d	1	0.69mi
107 Dalraida Rd Unit A Montgomery, AL	3.0	2.0	1237	$1,200	$0.97	44d	1	0.71mi
750 S Marquette Dr Montgomery, AL	3.0	1.0	1325	$1,195	$0.90	44d	1	0.72mi
1117 Karen Rd Montgomery, AL	3.0	1.0	1308	$1,195	$0.91	44d	1	0.72mi
3319 Willow Lane Dr Montgomery, AL	3.0	2.0	1032	$1,200	$1.16	44d	1	0.74mi
3359 Bedford Ln Montgomery, AL	4.0	2.0	1786	$1,600	$0.90	14d	1	0.77mi
3346 Bedford Ln Montgomery, AL	3.0	1.0	1134	$1,295	$1.14	14d	1	0.79mi
1154 Lakewood Dr Montgomery, AL	3.0	2.0	1066	$1,350	$1.27	44d	1	0.79mi
3323 Bedford Ln Montgomery, AL	3.0	2.0	1134	$1,200	$1.06	21d	1	0.80mi
4046 Camellia Dr Unit 1 Montgomery, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.80mi
4041A Beth Manor Dr Montgomery, AL	1.0–3.0	1.0–2.0	925	$1,000	$1.08	21d	20	0.85mi
1216 Beechdale Rd Montgomery, AL	4.0	2.0	1495	$1,325	$0.89	44d	1	0.91mi
4056 Wares Ferry Rd Montgomery, AL	3.0	2.0	1800	$1,500	$0.83	14d	1	0.96mi
1216 Karen Rd Montgomery, AL	3.0	2.0	1620	$1,350	$0.83	14d	1	0.96mi
3318 Habersham Rd Montgomery, AL	3.0	2.0	1134	$1,250	$1.10	14d	1	0.98mi
1229 Karen Rd Montgomery, AL	4.0	2.0	1344	$1,590	$1.18	44d	1	0.99mi
67 Holliday Dr Montgomery, AL	3.0	1.0	1156	$1,200	$1.04	44d	1	1.00mi
311 Bradley Dr Montgomery, AL	3.0	1.0	1104	$825	$0.75	44d	1	1.01mi
122 Oak Forest Dr Montgomery, AL	3.0	1.0	1092	$975	$0.89	21d	1	1.01mi
4023 Ware Hill Dr Unit 1507324P Montgomery, AL	2.0	2.0	1420	$4,076	$2.87	14d	1	1.01mi
3136 Harrison Rd Montgomery, AL	3.0	1.5	1355	$1,025	$0.76	44d	1	1.04mi
167 E Salem Dr Montgomery, AL	3.0	2.0	1700	$1,050	$0.62	44d	1	1.08mi
186 E Salem Dr Montgomery, AL	3.0	1.0	1040	$1,195	$1.15	21d	1	1.11mi

Listing history 7 events

1. 2026-05-12
   status Pending
2. 2026-04-21
   price $48,000
3. 2026-04-02
   price $55,000
4. 2026-01-21
   price $59,900
5. 2025-12-27
   listed $65,000 Active
6. 1997-04-04
   listed $75,000
7. 1996-09-16
   listed $69,500

ⓘ 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: $410 · $34/mo
• Projected year-2 tax: $410 · $34/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 · 18 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: $17,203
• − Mortgage interest: −$2,689
• − Property taxes: −$410
• − Insurance: −$240
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$1,396
• Taxable income: $9,715
• Est. tax owed @ 24.0%: −$2,332
• After-tax cash flow: $7,588/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

-30.9% since first listed

7 events — show timeline

• 2026-05-12 Pending — MAAR
• 2026-04-21 Price Changed $48,000 MAAR
• 2026-04-02 Price Changed $55,000 MAAR
• 2026-01-21 Price Changed $59,900 MAAR
• 2025-12-27 Listed $65,000 MAAR
• 1997-04-04 Listed $75,000 MAAR
• 1996-09-16 Listed $69,500 MAAR

Property tax history

+4.3%/yr

Latest (2025): $410 · +2.7% YoY. Source: county tax records.