Real Estate Investing in Mobile, Alabama (36609)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 36609 (Mobile, AL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
What’s happening in Mobile, AL (36609)?
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Market Analysis: 36609 Mobile
Not every below-median market is a bargain. Mobile's 36609 ZIP reflects signals that favor experienced operators who can absorb the risk $206K pricing implies.
Rent of $1,002/mo on a $206K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 36609 sits below the stated 0.0% once reality is priced in.
Looking more closely, 36609 offers a low basis, the region around Mobile has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 36609 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
New investors are better served looking at Mobile's stable or hybrid ZIPs before stepping into 36609. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Mobile:
Property Strategy for 36609
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $147,946 | $1,090 | 5.3% | +7.1% | $73,973 |
| 3BR | $192,231 | $1,420 | 5.3% | +7.1% | $64,077 |
| 4BR | $276,684 | $1,450 | 3.8% | +6.4% | $69,171 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 36609 Compare?
| Metric | 36609 | Mobile | Mobile, AL | Alabama |
|---|---|---|---|---|
| Home Value | $206,192 | $85,187 | N/A | $231,003 |
| 5-Year CAGR | 4.4% | 3.2% | N/A | 5.6% |
| Avg Rent | $1,002 | $1,283 | N/A | - |
| Cap Rate | 3.8% | 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 36609 (Mobile, AL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $206,192 |
| Monthly Rent | $1,002 |
| Price-to-Rent | 17.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +0.6% ▲ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +4.4% ▲ |
| 10-Year CAGR | +5.2% ▲ |
🏠 Rent Trends
| 1-Year | -2.1% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | +3.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). 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 36609
Population: 24,091
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 36609
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Burns Middle School
Covenant Academy of Mobile
Kate Shepard Elementary School
HL Sonny Callahan School for the Deaf and Blind
Mobile Mental Health Center
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
How does Mobile, AL rate as a rental market?
Mobile, AL records an investability rating of 3.0/5, with median home values near $206K and average rents around $1,002/mo. That combination puts it in the sturdy tier for investor interest.
What is the typical rental rate in Mobile, AL?
Rents in Mobile, AL run near $1,002/mo. Compared with median home prices of $206K that produces solid gross yields for typical rentals.
What are vacancy rates like in Mobile, AL?
Expect elevated vacancy in Mobile, AL. Rents at $1,002/mo are absorbed by the tenant base without meaningful lag.
Is Mobile, AL landlord-friendly?
Mobile, AL operates under AL law, which is landlord-friendly overall for landlords. Expect even-keeled treatment in typical lease and eviction cases.
What is the tenant pool like in Mobile, AL?
Tenant quality in Mobile, AL ranks as solid. Landlords generally report predictable occupancy at market rents of $1,002/mo.
You know 36609 now. You don’t know where it ranks.
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How 36609 ranks in Mobile, AL
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