Real Estate Investing in Mobile, Alabama (36604)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 36604 (Mobile, AL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 22.6% of homes vacant — above national norms.
What’s happening in Mobile, AL (36604)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 36604 Mobile
ZIP 36604 inside Mobile County looks affordable on the surface — median value of $203K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 36604 can be a a solid fit for hunting ground — but the discount at $203K reflects genuine risk that outside investors often underestimate.
Regionally, 36604 sits on the difficult end of the AL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 36604 includes headwinds that any investor should price in. Income distribution skews lower than Mobile averages, and tenant stability requires active management.
Distressed ZIPs reward experience. solid returns are possible in 36604, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Mobile:
Property Strategy for 36604
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $173,237 | $950 | 3.9% | +5.7% | $86,619 |
| 3BR | $246,770 | $1,240 | 3.6% | +5.0% | $82,257 |
| 4BR | $404,033 | $1,270 | 2.3% | +5.7% | $101,008 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 36604 Compare?
| Metric | 36604 | Mobile | Mobile, AL | Alabama |
|---|---|---|---|---|
| Home Value | $203,107 | $85,187 | N/A | $231,003 |
| 5-Year CAGR | 1.5% | 3.2% | N/A | 5.6% |
| Avg Rent | $1,252 | $1,283 | N/A | - |
| Cap Rate | 4.8% | 6.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 36604 (Mobile, AL). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 36604 (Mobile, AL)?
~25 seconds · no account needed · your report is anonymous
📊 Market Snapshot
| Home Value | $203,107 |
| Monthly Rent | $1,252 |
| Price-to-Rent | 13.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 6.3% |
📈 Home Appreciation
| 1-Year | -2.8% ▼ |
| 3-Year CAGR | -0.7% ▼ |
| 5-Year CAGR | +1.5% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | +22.5% ▲ |
| 3-Year CAGR | +11.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.8%). 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 36604
Population: 9,050
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 36604
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
The Pathway
Calloway Smith Middle School
John L Leflore Magnet School
Phillips Preparatory Middle School
Barton Academy For Advanced World Studies
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
What is the typical rental rate in Mobile, AL?
The typical rental in Mobile, AL commands about $1,252/mo monthly. That rent profile steady cash flow against the $203K purchase basis.
What is the typical vacancy rate in Mobile, AL?
Occupancy in Mobile, AL runs measured with elevated vacancy. Well-priced units at $1,252/mo lease on reasonable timelines.
What is the best play in Mobile, AL?
Mobile, AL investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($203K prices, $1,252/mo rents) make it a reasonable choice.
Is the tenant base reliable in Mobile, AL?
Tenant demand in Mobile, AL is solid. The local workforce $1,252/mo rents across most rental classes.
Is Mobile, AL landlord-friendly?
AL ranks as a landlord-friendly state for landlord-tenant law. Mobile generally follows the statewide framework, so landlords face reasonable operating rules.
You know 36604 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 36604 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 36604 ranks in Mobile, AL
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 36604 (Mobile)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 36604 (Mobile, AL).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.