2006 Edwards Ave · Mobile, AL 36617

$36,500

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 102 Days on market

Built 1978 4,961 sqft lot $48/sqft · 25% below area Est $49k · 25% under ↓ 19% since listing

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.4/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

Key facts

• 4,961 sq ft lot
• Listed 102 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $33k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.8% 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: 40 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $2k of equity ($252 loan paydown + $2k appreciation (4.8% 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 (4.8% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $33,215 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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: 3.15% ✓
• Cap rate: 28.77%
• Cash-on-cash: 80.28%
• DSCR: 4.57
• GRM: 2.6

CMA / ARV

• ARV (median comp): $48,500
• List price: $36,500
• Delta: -24.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
556 Kent St	0.26mi	2/1.0	775 (+1%)	11mo	$110,000	$142	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.78% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 86.1%
• Equity multiple: 6.04×
• Total profit: $51,497
• Equity at exit: $20,191

10-year hold

• IRR: 84.4%
• Equity multiple: 12.57×
• Total profit: $118,258
• Equity at exit: $34,447

Cash invested: $10,220 (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 36617

• Home prices YoY: 3.9%
• Active inventory: 40
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,148 high
• Mortgage (P&I): −$191
• Tax from tax record: −$17 /mo · $203/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $684

Break-even live

Break-even rent $283

Max offer price $36,500

Occupancy floor 35%

Sensitivity live

Price	-10% $704	-5% $694	+0% $684	+5% $673	+10% $663
Rent	-10% $593	-5% $638	+0% $684	+5% $729	+10% $774
Rate	-1.0pp $702	-0.5pp $693	base $684	+0.5pp $674	+1.0pp $665

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
350 Stanton Rd Unit D25 Mobile, AL	1.0	1.0	588	$895	$1.52	45d	1	0.49mi
186 Stanton Rd Mobile, AL	1.0–3.0	1.0–2.5	1263	$2,062	$1.63	45d	1	0.82mi
2853 Josephine St Mobile, AL	2.0	1.0	780	$975	$1.25	22d	1	1.30mi
2850 Edgewood St Mobile, AL	2.0	1.0	816	$1,000	$1.23	22d	1	1.31mi
113 Randolph St Unit 1 Mobile, AL	1.0	1.0	800	$958	$1.20	22d	1	1.35mi
708 Bond St Mobile, AL	3.0	1.0	1100	$1,350	$1.23	22d	1	1.47mi

Listing history 5 events

1. 2026-05-13
   status Active 121-char remark

   Show marketing remark (121 chars)

   Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

2. 2026-05-07
   status Pending 121-char remark

   Show marketing remark (121 chars)

   Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

3. 2026-04-14
   price $36,500 121-char remark

   Show marketing remark (121 chars)

   Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

4. 2026-03-12
   price $39,000 121-char remark

   Show marketing remark (121 chars)

   Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

5. 2026-02-09
   listed $45,000 Active 121-char remark

   Show marketing remark (121 chars)

   Come take a look at this property. Ready for renovations Member of owning entity is a licensed real estate agent in AL

ⓘ 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: $203 · $17/mo
• Projected year-2 tax: $203 · $17/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 21 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: $13,782
• − Mortgage interest: −$2,045
• − Property taxes: −$203
• − Insurance: −$182
• − Repairs & maintenance: −$1,103
• − Management: −$1,103
• − Depreciation: −$1,062
• Taxable income: $8,085
• Est. tax owed @ 24.0%: −$1,940
• After-tax cash flow: $6,265/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
• City population: 205,729
• Population (ZIP): 11,952

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 Black (97%)
• Race & ethnicity: Black 97% White 2%
• Foreign-born: 0%

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: ▲ 4.78%
• Current HPI: 128.8377
• 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

-18.9% since first listed

5 events — show timeline

• 2026-05-13 Relisted — GCMLS AL
• 2026-05-07 Pending — GCMLS AL
• 2026-04-14 Price Changed $36,500 GCMLS AL
• 2026-03-12 Price Changed $39,000 GCMLS AL
• 2026-02-09 Listed $45,000 GCMLS AL

Property tax history

+2.6%/yr

Latest (2025): $203 · +0.0% YoY. Source: county tax records.