1113 Kelly St · Mobile, AL 36605

$110,000

2 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 113 Days on market

Built 1985 7,426 sqft lot $103/sqft · 73% above area

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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 +28.8/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Rent growth +4.6/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

Key facts

• New cabinetry
• Fresh interior paint
• New roof

Tags

• NEW ROOF
• NEW HVAC SYSTEM
• NEW DOUBLE-PANE WINDOWS
• FULL ELECTRICAL REWIRE
• FRESH INTERIOR PAINT
• NEW CABINETRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 (+8.3%/yr); 139 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,678 units permitted in Mobile County in 2024 (264 in 5+ unit buildings).
• This rent runs 36% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 + 8.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $48k; list at $110k implies a 127% 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 $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.18% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.36%
• DSCR: 1.64
• GRM: 7.1

CMA / ARV

• ARV (median comp): $66,440
• List price: $110,000
• Delta: 65.56%
• 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
1259 Baltimore St	0.24mi	2/1.0	1,056 (-1%)	14mo	$55,000	$52	76
1164 Seneca St	0.10mi	2/1.0	1,008 (-5%)	13mo	$86,000	$85	76
1101 Kelly St	0.05mi	3/2.0 (+1)	1,123 (+6%)	7mo	$125,000	$111	74
1111 Kelly St	0.01mi	3/2.0 (+1)	1,166 (+10%)	12mo	$153,400	$132	64
1009 Baltimore St	0.23mi	3/1.0 (+1)	975 (-8%)	9mo	$90,000	$92	63
1163 Cottrell St	0.24mi	3/1.0 (+1)	1,170 (+10%)	5mo	$33,500	$29	63
1056 Arlington St	0.30mi	3/1.0 (+1)	1,200 (+13%)	12mo	$35,000	$29	49
1550 Colgin St	0.65mi	2/1.0	930 (-12%)	4mo	$80,000	$86	46
1006 Maryland St	0.72mi	2/1.0	936 (-12%)	5mo	$60,000	$64	42
563 Wisconsin Ave	0.68mi	2/1.0	918 (-14%)	5mo	$60,000	$65	42
801 Kentucky St	0.65mi	2/1.5	912 (-14%)	8mo	$18,000	$20	38
704 Marine St	0.72mi	2/2.0	1,220 (+15%)	0mo	$167,000	$137	37

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 9.7%
• Equity multiple: 1.40×
• Total profit: $12,449
• Equity at exit: $16,401

10-year hold

• IRR: 22.4%
• Equity multiple: 3.34×
• Total profit: $72,017
• Equity at exit: $9,511

Cash invested: $30,800 (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 36605

• Rents YoY: 8.3%
• Active inventory: 139
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,294 high
• Mortgage (P&I): −$577
• Tax from tax record: −$31 /mo · $372/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $369

Break-even live

Break-even rent $827

Max offer price $110,000

Occupancy floor 67%

Sensitivity live

Price	-10% $431	-5% $400	+0% $369	+5% $338	+10% $306
Rent	-10% $266	-5% $318	+0% $369	+5% $420	+10% $471
Rate	-1.0pp $424	-0.5pp $397	base $369	+0.5pp $340	+1.0pp $311

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1204 Seneca St Mobile, AL	3.0	2.0	1425	$1,345	$0.94	14d	1	0.11mi
1009 Miami St Mobile, AL	3.0	1.0	768	$1,150	$1.50	44d	1	0.53mi
711 Marine St Mobile, AL	2.0	1.0	1100	$1,150	$1.05	44d	1	0.71mi
1013 Elmira St Unit A Mobile, AL	2.0	1.0	1000	$995	$0.99	21d	1	1.00mi
1417 Monroe St Mobile, AL	2.0	1.0	1064	$1,350	$1.27	44d	1	1.01mi
600 S Washington Ave Mobile, AL	1.0–2.0	1.0	820	$1,058	$1.29	44d	2	1.04mi
250 Tuttle Ave Unit B Mobile, AL	1.0	1.0	928	$1,100	$1.19	44d	1	1.04mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	21d	1	1.07mi
207 Michigan Ave Unit 3 Mobile, AL	1.0	1.0	1000	$795	$0.80	44d	1	1.07mi
957 Savannah St Mobile, AL	2.0	1.5	1054	$1,400	$1.33	21d	1	1.17mi
84 S Lafayette St Unit 1043577P Mobile, AL	3.0	2.0	1496	$3,116	$2.08	14d	1	1.25mi
706 Cherokee St Mobile, AL	3.0	1.0	1260	$1,375	$1.09	21d	1	1.26mi
1141 Montauk Ave Unit 1043864P Mobile, AL	3.0	2.0	1420	$2,741	$1.93	14d	1	1.35mi
111 S Catherine St Mobile, AL	2.0	1.0	891	$899	$1.01	44d	1	1.38mi
611 Dauphin Island Pkwy Mobile, AL	3.0	2.0	1450	$1,300	$0.90	44d	1	1.40mi

Listing history 26 events

1. 2026-06-18
   days on market $110,000 Active 113 DOM
2. 2026-06-17
   days on market $110,000 Active 112 DOM
3. 2026-06-16
   days on market $110,000 Active 111 DOM
4. 2026-06-15
   days on market $110,000 Active 110 DOM
5. 2026-06-14
   days on market $110,000 Active 108 DOM
6. 2026-06-13
   days on market $110,000 Active 107 DOM
7. 2026-06-10
   days on market $110,000 Active 105 DOM
8. 2026-06-09
   days on market $110,000 Active 104 DOM
9. 2026-06-08
   days on market $110,000 Active 103 DOM
10. 2026-06-07
    days on market $110,000 Active 102 DOM
11. 2026-06-05
    pricedays on market $110,000 Active 99 DOM
12. 2026-06-03
    days on market $120,130 Active 98 DOM
13. 2026-06-02
    days on market $120,130 Active 97 DOM
14. 2026-06-01
    days on market $120,130 Active 96 DOM
15. 2026-05-31
    days on market $120,130 Active 95 DOM
16. 2026-05-30
    days on market $120,130 Active 94 DOM
17. 2026-05-12
    price $120,130 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

18. 2026-05-05
    price $132,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

19. 2026-04-27
    price $137,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

20. 2026-04-20
    price $142,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

21. 2026-04-13
    price $143,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

22. 2026-04-06
    price $144,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

23. 2026-03-20
    price $145,000 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

24. 2026-02-25
    listed $150,000 Active 890-char remark

    Show marketing remark (890 chars)

    ***This listing is on a VRM sellers entertaining offers between $120,00-$130,000*** Completely updated 3 bedroom, 1 bathroom home offering approximately 1,111 square feet of living space. Renovations completed in 2026 include a new roof, new HVAC system, new double-pane windows, full electrical rewire, waterproof luxury vinyl plank flooring throughout, fresh interior paint, new cabinetry, butcher block countertops, and new dishwasher and stove. The functional floor plan includes a spacious living area, dedicated dining space, and an interior laundry room. The kitchen features updated cabinetry, modern finishes, and ample counter space. Bedrooms are well-sized with natural light. Situated on a generous lot with both front and rear porch areas, providing additional outdoor living space. Buyer or buyer’s agent to verify all information deemed important during due diligence.

25. 2006-05-17
    soldstatus $48,380
26. 2005-08-17
    soldstatus $25,000

ⓘ 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: $372 · $31/mo
• Projected year-2 tax: $451 · $38/mo
• Expected delta: +$79/yr (+$7/mo · 21.2%)

ⓘ 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 · 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: $15,530
• − Mortgage interest: −$6,162
• − Property taxes: −$372
• − Insurance: −$550
• − Repairs & maintenance: −$1,242
• − Management: −$1,242
• − Depreciation: −$3,200
• Taxable income: $2,761
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $3,761/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): 25,104
• Household income: $43,538
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 1521.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% White 27% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 3% Slovak 2% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -96.46%
• Current HPI: 125.9526
• Rent YoY: ▲ 8.26%
• 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

+380.5% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $120,130 GCMLS AL
• 2026-05-05 Price Changed $132,000 GCMLS AL
• 2026-04-27 Price Changed $137,000 GCMLS AL
• 2026-04-20 Price Changed $142,000 GCMLS AL
• 2026-04-13 Price Changed $143,000 GCMLS AL
• 2026-04-06 Price Changed $144,000 GCMLS AL
• 2026-03-20 Price Changed $145,000 GCMLS AL
• 2026-02-25 Listed $150,000 GCMLS AL
• 2006-05-17 Sold (Public Records) $48,380 Public Records
• 2005-08-17 Sold (Public Records) $25,000 Public Records

Property tax history

-1.3%/yr

Latest (2025): $372 · -7.0% YoY. Source: county tax records.