315 3rd St · Birmingham, AL 35214

$53,000

3 bd · 2.0 ba · 1,148 sqft · SingleFamily public records · 41 Days on market

Built 1981 0.34 ac lot $46/sqft · 29% below area Est $83k · 36% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors- buy this home, and we'll re-list it for FREE! AWESOME INVESTOR OPPORTUNITY! COSMETIC REPAIRS NEEDED FOR A QUICK AND EASY FLIP. Large corner lot, fenced. Home warranty provided at closing. Contact directly for a private showing.

Key facts

• Large corner lot
• Fenced
• 0.34 acre lot

Tags

• LARGE CORNER LOT
• FENCED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $51k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.4% vs local median 6.2% in Birmingham — 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 67/100 on livability (#78 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, schools F, crime F.
• Birmingham City (urban): math 4% / reading 20% proficiency, ranked #116 of 129 in AL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 115 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,410 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 2.12% ✓
• Cap rate: 17.35%
• Cash-on-cash: 39.50%
• DSCR: 2.76
• GRM: 3.9

CMA / ARV

• ARV (median comp): $82,799
• List price: $53,000
• Delta: -35.99%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1168 16th Ave W	0.12mi	3/1.0	1,112 (-3%)	20mo	$54,900	$49	68

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 33.1%
• Equity multiple: 2.35×
• Total profit: $20,067
• Equity at exit: $7,902

10-year hold

• IRR: 38.8%
• Equity multiple: 4.23×
• Total profit: $47,905
• Equity at exit: $4,582

Cash invested: $14,840 (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 35214

• Home prices YoY: -20.0%
• Rents YoY: 0.7%
• Active inventory: 115
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,121 high
• Mortgage (P&I): −$278
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $489

Break-even live

Break-even rent $503

Max offer price $53,000

Occupancy floor 51%

Sensitivity live

Price	-10% $519	-5% $504	+0% $489	+5% $474	+10% $459
Rent	-10% $400	-5% $444	+0% $489	+5% $533	+10% $577
Rate	-1.0pp $515	-0.5pp $502	base $489	+0.5pp $475	+1.0pp $461

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1174 16th Avenue Thomas Birmingham, AL	2.0	1.0	1000	$750	$0.75	45d	1	0.12mi
128 Thomas Cir Birmingham, AL	3.0	1.0	777	$2,550	$3.28	45d	1	0.41mi
1411 Magnolia Dr Unit 1411 Birmingham, AL	2.0	1.0	867	$950	$1.10	45d	1	0.97mi
757 10th Ave W Birmingham, AL	2.0	1.0	1136	$1,000	$0.88	45d	1	0.97mi
213 Beech Ave Birmingham, AL	3.0	1.0	1288	$1,000	$0.78	20d	1	0.98mi
517 11th Ct W Birmingham, AL	2.0	1.0	970	$795	$0.82	45d	1	0.98mi
1739 Huntington Dr Birmingham, AL	3.0	2.0	1008	$1,150	$1.14	4d	1	1.02mi
1425 Hibernian St Birmingham, AL	3.0	1.0	1152	$1,200	$1.04	25d	1	1.10mi
609 Cherry Ave Birmingham, AL	3.0	1.5	1104	$1,495	$1.35	25d	1	1.10mi
408 Miles Ave Birmingham, AL	3.0	2.0	1377	$1,050	$0.76	22d	1	1.12mi
905 7th St W Birmingham, AL	3.0	2.0	1029	$1,150	$1.12	45d	1	1.17mi
915 6th St W Birmingham, AL	3.0	1.0	1332	$1,075	$0.81	45d	1	1.19mi
1642 Graymont Ave W Birmingham, AL	3.0	1.0	1219	$1,090	$0.89	4d	1	1.21mi
3113 Pike Rd Birmingham, AL	3.0	2.0	1143	$1,275	$1.12	45d	1	1.25mi
315 Avenue U Birmingham, AL	3.0	1.0	1088	$1,200	$1.10	4d	1	1.26mi
612 12th St W Birmingham, AL	3.0	1.5	1242	$1,150	$0.93	45d	1	1.29mi
1101 7th Ave W Birmingham, AL	3.0	1.0	1248	$1,250	$1.00	45d	1	1.34mi
963 3rd St W Birmingham, AL	3.0	2.0	1444	$1,295	$0.90	25d	1	1.35mi
410 8th Ter W Birmingham, AL	3.0	1.0	1440	$1,200	$0.83	17d	1	1.38mi
1119 Graymont Ave W Birmingham, AL	3.0	1.0	1260	$1,073	$0.85	3d	1	1.39mi
827 6th Ave W Birmingham, AL	3.0	1.0	1214	$1,075	$0.89	25d	1	1.45mi
1720 Cullman Ave Unit 3 Birmingham, AL	3.0	2.0	1174	$950	$0.81	45d	1	1.45mi
1720 Cullman Ave Unit 2 Birmingham, AL	3.0	1.0	1174	$899	$0.77	22d	1	1.45mi
617 7th St W Birmingham, AL	3.0	1.5	1120	$1,175	$1.05	45d	1	1.48mi

Listing history 6 events

1. 2026-05-06
   status Pending 238-char remark

   Show marketing remark (238 chars)

   Investors- buy this home, and we'll re-list it for FREE! AWESOME INVESTOR OPPORTUNITY! COSMETIC REPAIRS NEEDED FOR A QUICK AND EASY FLIP. Large corner lot, fenced. Home warranty provided at closing. Contact directly for a private showing.

2. 2026-04-07
   price $53,000 238-char remark

   Show marketing remark (238 chars)

   Investors- buy this home, and we'll re-list it for FREE! AWESOME INVESTOR OPPORTUNITY! COSMETIC REPAIRS NEEDED FOR A QUICK AND EASY FLIP. Large corner lot, fenced. Home warranty provided at closing. Contact directly for a private showing.

3. 2026-03-26
   listed $58,500 Active 238-char remark

   Show marketing remark (238 chars)

   Investors- buy this home, and we'll re-list it for FREE! AWESOME INVESTOR OPPORTUNITY! COSMETIC REPAIRS NEEDED FOR A QUICK AND EASY FLIP. Large corner lot, fenced. Home warranty provided at closing. Contact directly for a private showing.

4. 2024-06-29
   price $64,900
5. 2007-11-26
   soldstatus $40,750
6. 1981-06-15
   soldstatus $40,750

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $1,167 · $97/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,455
• − Mortgage interest: −$2,969
• − Property taxes: −$1,167
• − Insurance: −$265
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$1,542
• Taxable income: $5,359
• Est. tax owed @ 24.0%: −$1,286
• After-tax cash flow: $4,576/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: Birmingham City
• NCES district ID: 0100390
• Math proficiency: 4% ▼ -17.00%
• Reading proficiency: 20% ▼ -4.00%
• Median HH income: $31,988
• Composite: 9.49/100
• National rank: #9850
• State rank: #116 of 129 in AL

Livability — Birmingham

• Score: 67/100
• State rank: #78
• US rank: #10412

Category grades

Amenities C- Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birmingham, AL
• County: Jefferson County · 527,445 people
• City population: 17,027
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 17,027
• Household income: $56,383
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 578.0

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 669,185 people
• By 2030: 669,694 · +0.1%
• By 2040: 661,388 · -1.2%
• By 2050: 643,086 · -3.9%
• By 2075: 577,267 · -13.7%
• By 2100: 474,758 · -29.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (77%)
• Race & ethnicity: Black 77% White 18% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Jefferson

• 2024 margin: D (+10.4) · D 54.6% · R 44.2% · Other 1.2%
• 2008→2024 swing: +5.4pp toward D · 2008: 5.1pp · 2024: 10.4pp
• All cycles: 2024: D+10.4 2020: D+13.2 2016: D+7.2 2012: D+6.0 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.48%
• Current HPI: 218.5233
• Rent YoY: ▲ 0.74%
• Metro: Birmingham-Hoover, 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

+30.1% since first listed

6 events — show timeline

• 2026-05-06 Pending — Greater Alabama MLS
• 2026-04-07 Price Changed $53,000 Greater Alabama MLS
• 2026-03-26 Listed $58,500 Greater Alabama MLS
• 2024-06-29 Price Changed $64,900 LCMLS
• 2007-11-26 Sold (Public Records) $40,750 Public Records
• 1981-06-15 Sold (Public Records) $40,750 Public Records

Property tax history

+11.7%/yr

Latest (2025): $1,167 · +127.7% YoY. Source: county tax records.