Feedback on multi family in Montgomery

[J.S. B.]

I noticed this property back in October when I was exploring properties in my area and it kind of de-motivated me because it seemed like such a great deal I couldn't afford. 4 unit in Montgomery, AL listed for $166K, fully rented (according to the description) bringing in $2350/month so over that 1% rule for rent and would bring in over $1500 a month. Since then, the listing price has dropped to $129,900. And it's been listed for almost a year. Now it is closer to the 2% rule which does call for some skepticism. Good schools available for middle and elementary. Crime levels are not the best but they are comparable to places I have lived in with no problems.

Can anyone review this property and provide some insight on why this place might not have sold yet?

345 Arthur St
Montgomery, AL 36107