8135 State St · Citronelle, AL 36522

$329,449

None bd · None ba · — sqft · MultiFamily · 16 Days on market

Built 1984 Fair condition 1.52 ac lot

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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 +26.2/30.0
• Appreciation +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Condition / age +2.2/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

VRP Seller will entertain offers between $329,000-$349,000. Investor alert! Turnkey Cash-Flowing 4-Unit Investment Opportunity! Fully occupied 4-unit property generating immediate income from day one. Properties with this kind of built-in cash flow and upside potential are becoming increasingly hard to find. Each unit features 2 bedrooms, 1 bathroom, a kitchen, a living room, and a laundry room, creating functional layouts that support strong tenant demand. All units are separately metered for electricity, keeping operating costs lower for the owner. Tenants pay their own electric, while water is shared. Current rents:• Two units at $650/month• Two units at $550/month. All leases

Key facts

• Ample parking
• Shared water
• Large roadside sign

Tags

• 4 UNIT INVESTMENT OPPORTUNITY
• FULLY OCCUPIED PROPERTY
• SHARED WATER
• ROOM FOR POSSIBLE EXPANSION
• LARGE ROADSIDE SIGN
• AMPLE PARKING

Property features AI

Exterior

• Parking: Driveway; Level driveway; Parking lot
• Utilities: Cable available; Electricity available; Natural gas available; Phone service available; Public sewer; Public water
• Home design: Residential income property; Quadruplex
• Construction: Brick 4 sides construction; Metal roof; Built in 1984
• Exterior features: No fencing; Has a view

Interior

• Bedrooms: Total of 4 units (multi-unit property)
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Accessible bedroom; Accessible entrance; Accessible kitchen; Accessible washer/dryer; Central heating; Ceiling fans; Central air
• Laundry & utility: Washer/dryer access (accessible)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $329k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $841 ($10k/yr) — positive. Per door: $210/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $325k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.2% in Citronelle — 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 (#254 in AL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: employment C-, 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: Citronelle High School (math 8% / reading 8%, grade F, #261 of 305 statewide, top 87%, 719 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Zoned-school proficiency averages 8% at this address vs 27% district-wide (-20 pts) — the specific schools serving this property underperform the Mobile County average; the district grade overstates school quality for this exact location.
• Market conditions: 63 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).

Forward outlook

• In year one you build about $35k of equity ($2k loan paydown + $33k appreciation (10.0% local appreciation)).
• Mobile County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $92k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$57k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($325k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $324,507 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 1.20% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.94%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.3%
• Equity multiple: 3.53×
• Total profit: $233,024
• Equity at exit: $296,794

10-year hold

• IRR: 27.9%
• Equity multiple: 7.98×
• Total profit: $644,234
• Equity at exit: $640,047

Cash invested: $92,246 (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 36522

• Home prices YoY: 11.8%
• Active inventory: 63
• Price-to-rent: 27.8×

Monthly cashflow live

• Estimated rent: $3,946 medium
• Mortgage (P&I): −$1,728
• Tax est. 1.5%: −$412 /mo · $4,942/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$829
• Net cashflow: $841

Break-even live

Break-even rent $2,882

Max offer price $329,449

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,944
Total (4 units)			$3,946

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: $82,362
• Closing costs: $9,883
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19490 Magnolia St Unit D Citronelle, AL	2.0	1.0	900	$940	$1.04	44d	1	0.48mi
19490 Magnolia St Unit E Citronelle, AL	1.0	1.0	600	$740	$1.23	14d	1	0.48mi
8685 W Williams St Citronelle, AL	3.0	2.0	1716	$1,600	$0.93	14d	1	1.01mi

Listing history 13 events

1. 2026-06-18
   days on market $329,449 Active 16 DOM
2. 2026-06-17
   days on market $329,449 Active 15 DOM
3. 2026-06-16
   days on market $329,449 Active 14 DOM
4. 2026-06-15
   days on market $329,449 Active 13 DOM
5. 2026-06-14
   days on market $329,449 Active 11 DOM
6. 2026-06-13
   days on market $329,449 Active 10 DOM
7. 2026-06-10
   days on market $329,449 Active 8 DOM
8. 2026-06-09
   days on market $329,449 Active 7 DOM
9. 2026-06-08
   days on market $329,449 Active 6 DOM
10. 2026-06-07
    days on market $329,449 Active 5 DOM
11. 2026-06-05
    days on market $329,449 Active 2 DOM
12. 2026-06-03
    remarks 689-char remark
13. 2026-06-03
    listed $329,449 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 19 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: $47,352
• − Mortgage interest: −$18,454
• − Property taxes: −$4,942
• − Insurance: −$1,647
• − Repairs & maintenance: −$3,788
• − Management: −$3,788
• − Depreciation: −$9,584
• Taxable income: $5,148
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $8,851/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.

Condition & rehab AI · 7 photos

Fair 45/100 Moderate rehab

This 4-unit property requires significant repairs and maintenance, including re-roofing, repainting, and replacing carpet. However, it has the potential to be a cash-flowing investment with high ROI.

Repairs flagged

• Major roof — The independent image shows visible rust and wear on the metal roof.
• Major exterior siding — The independent image shows weathered siding that needs repainting or replacement.
• Major flooring — The independent image shows worn carpet that may need replacement.
• Major interior walls — The independent image shows peeling paint on the walls, indicating a need for repainting.
• Major HVAC units — The independent image shows old HVAC units that may need replacement.

Value-add opportunities

• Both Re-roofing the metal roof — Re-roofing will improve the home's appearance and increase its value for both resale and rental.
• Both Repainting the exterior siding and interior walls — Repainting will improve the home's curb appeal and increase its value for both resale and rental.
• Both Replacing the carpet in the living area — Replacing the carpet will improve the home's appearance and increase its value for both resale and rental.
• Rental Refrigerator and other appliances — Upgrading the appliances will make the home more attractive to tenants and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The independent image shows visible rust and wear on the metal roof.	Major	$15,000–50,000
exterior siding · The independent image shows weathered siding that needs repainting or replacement.	Major	$15,000–50,000
flooring · The independent image shows worn carpet that may need replacement.	Major	$15,000–50,000
interior walls · The independent image shows peeling paint on the walls, indicating a need for repainting.	Major	$15,000–50,000
HVAC units · The independent image shows old HVAC units that may need replacement.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Re-roofing the metal roof — Re-roofing will improve the home's appearance and increase its value for both resale and rental. ↑
• Both Repainting the exterior siding and interior walls — Repainting will improve the home's curb appeal and increase its value for both resale and rental. ↑
• Both Replacing the carpet in the living area — Replacing the carpet will improve the home's appearance and increase its value for both resale and rental. ↑
• Rental Refrigerator and other appliances — Upgrading the appliances will make the home more attractive to tenants and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Citronelle

• Score: 61/100
• State rank: #254
• US rank: #17928

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Citronelle, AL
• City population: 6,892
• Population (ZIP): 6,892

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 (69%)
• Race & ethnicity: White 69% Black 18% Two or more races 7%
• Common ancestry: Slovak 3% Lithuanian 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 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: ▲ 27.55%
• Current HPI: 260.4914
• 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

1 event — show timeline

• 2026-06-02 Listed $329,449 GCMLS AL