Real Estate Investing in Mobile, Alabama (36602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 36602 (Mobile, AL)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.4% of homes vacant — above national norms.
- Lower household income: $30,795 median — tenant affordability is tighter.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely.
What’s happening in Mobile, AL (36602)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 36602 Mobile
ZIP 36602 in Mobile, AL carries a notable set of headwinds. Home values near $334K and rents of $1,541/mo sit inside a market where underwriting has to be tight.
The investment case in 36602 is robust only for operators who understand what they are buying. A $334K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 36602 among AL's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Who lives in 36602 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 36602 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Mobile:
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 36602 Compare?
| Metric | 36602 | Mobile | Mobile, AL | Alabama |
|---|---|---|---|---|
| Home Value | $334,207 | $85,187 | N/A | $231,003 |
| 5-Year CAGR | 3.7% | 3.2% | N/A | 5.6% |
| Avg Rent | $1,541 | $1,283 | N/A | - |
| Cap Rate | 3.6% | 6.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 36602 (Mobile, AL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $334,207 |
| Monthly Rent | $1,541 |
| Price-to-Rent | 18.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 7.3% |
📈 Home Appreciation
| 1-Year | -0.1% ▼ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +3.7% ▲ |
| 10-Year CAGR | +5.6% ▲ |
🏠 Rent Trends
| 1-Year | -18.3% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 36602
Population: 897
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 36602
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Calloway Smith Middle School
Dunbar Creative Performing Arts
Florence Howard Elementary School
Leinkauf Elementary School
W H Council Traditional School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,763 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Which real estate strategy fits Mobile, AL?
For Mobile, AL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What kind of tenants rent in Mobile, AL?
The renter base in Mobile, AL is reasonable for the $1,541/mo price point. Screening well and pricing to market typically yields steady tenants.
How much is rent in Mobile, AL?
Rental rates in Mobile, AL average $1,541/mo. Tenant demand and $334K home values make the yield look reasonable by investor standards.
Are there empty rentals in Mobile, AL?
Vacancy risk in Mobile, AL is elevated. That supports predictable cash flow for typical rental holds.
Does a duplex house hack pencil in Mobile, AL?
House hacking works a challenging in Mobile, AL. Rents of $1,541/mo against $334K acquisition make the strategy solid for owner-occupants.
You know 36602 now. You don’t know where it ranks.
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How 36602 ranks in Mobile, AL
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