4304 Gadsden St · Birmingham, AL 35217

$42,000

2 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 61 Days on market

Built 1920 6,534 sqft lot $37/sqft · 18% below area Est $51k · 18% 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
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime rental property! This home has been a reliable, steady-performing rental for several years under the current owner. It’s move-in ready and offers ample parking, hardwood floors, and a small storage shed for added convenience. Located in a high-demand area with close proximity to everyday amenities, it continues to attract strong tenant interest. Estimated Fair Market Rent: $750–$850 based on current rental data and neighborhood trends.

Key facts

• Ample parking
• High-demand area
• Hardwood floors

Tags

• AMPLE PARKING
• HARDWOOD FLOORS
• SMALL STORAGE SHED
• HIGH-DEMAND AREA
• CLOSE PROXIMITY TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $39k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.6% 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 rising (+3.6%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 32% of the median local income ($40k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $290 of loan paydown is wiped out by about $1k 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 + 3.6% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $8k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $42k implies a 282% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,480 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.60% ✓
• Cap rate: 22.58%
• Cash-on-cash: 58.17%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

• ARV (median comp): $51,000
• List price: $42,000
• Delta: -17.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4316 Gadsden St	0.03mi	2/1.0	1,048 (-8%)	5mo	$50,000	$48	81
3929 41st Ave N	0.31mi	2/1.0	1,120 (-2%)	2mo	$52,000	$46	80
4021 43rd Ave N	0.40mi	2/1.0	1,150 (+1%)	10mo	$18,000	$16	72
4300 Pulaski St	0.31mi	2/1.0	1,045 (-8%)	1mo	$45,000	$43	70
725 Fulton Ave	0.54mi	3/1.0 (+1)	1,110 (-3%)	5mo	$80,050	$72	61
4125 40th Ave N	0.59mi	3/2.0 (+1)	1,144 (+0%)	4mo	$67,000	$59	60
621 Bell Ave	0.42mi	3/1.0 (+1)	1,008 (-12%)	1mo	$68,000	$67	55
4125 43rd Ave N	0.50mi	2/1.0	981 (-14%)	4mo	$28,000	$29	50
4421 43rd St N	0.71mi	3/1.0 (+1)	1,200 (+5%)	4mo	$42,000	$35	50
4232 42nd St N	0.56mi	3/2.0 (+1)	1,092 (-4%)	11mo	$126,000	$115	49
817 Jackson Blvd	0.65mi	3/1.0 (+1)	1,025 (-10%)	1mo	$114,429	$112	47
3413 38th Pl N	0.69mi	3/1.0 (+1)	1,008 (-12%)	1mo	$30,000	$30	42

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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: 57.4%
• Equity multiple: 3.56×
• Total profit: $30,160
• Equity at exit: $6,262

10-year hold

• IRR: 62.5%
• Equity multiple: 7.44×
• Total profit: $75,742
• Equity at exit: $3,631

Cash invested: $11,760 (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 35217

• Rents YoY: 3.6%
• Active inventory: 94
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,090 high
• Mortgage (P&I): −$220
• Tax from tax record: −$54 /mo · $642/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $570

Break-even live

Break-even rent $369

Max offer price $42,000

Occupancy floor 43%

Sensitivity live

Price	-10% $594	-5% $582	+0% $570	+5% $558	+10% $546
Rent	-10% $484	-5% $527	+0% $570	+5% $613	+10% $656
Rate	-1.0pp $591	-0.5pp $581	base $570	+0.5pp $559	+1.0pp $548

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4316 Gadsden St Birmingham, AL	2.0	1.0	1048	$1,100	$1.05	3d	1	0.05mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.12mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	24d	1	0.12mi
4244 Jackson St Birmingham, AL	3.0	1.0	858	$1,100	$1.28	44d	1	0.17mi
4301 Greenwood St Birmingham, AL	3.0	1.0	1140	$1,025	$0.90	3d	1	0.27mi
4344 Pulaski St Birmingham, AL	3.0	1.0	1268	$1,050	$0.83	44d	1	0.32mi
4329 Pulaski St Birmingham, AL	3.0	2.0	1240	$1,353	$1.09	24d	1	0.34mi
1316 Spring St Birmingham, AL	2.0	1.0	920	$1,195	$1.30	3d	1	0.36mi
3708 42nd Ave N Birmingham, AL	3.0	1.0	876	$950	$1.08	44d	1	0.37mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	3d	1	0.40mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	44d	1	0.40mi
4549 40th Pl N Birmingham, AL	2.0	1.0	728	$850	$1.17	44d	1	0.43mi
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	44d	1	0.44mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	3d	1	0.60mi
4220 40th Ct N Birmingham, AL	3.0	1.0	948	$1,200	$1.27	44d	1	0.64mi
4101 50th Ave N Unit B Birmingham, AL	2.0	1.0	850	$900	$1.06	44d	1	0.66mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	19d	1	0.69mi
4236 39th Ave N Birmingham, AL	3.0	2.0	1000	$1,195	$1.20	24d	1	0.72mi
4317 41st Ave N Birmingham, AL	3.0	1.0	864	$1,000	$1.16	44d	1	0.74mi
4208 50th Ave N Birmingham, AL	3.0	1.0	1104	$1,200	$1.09	44d	1	0.75mi
5015 42nd Pl N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	44d	1	0.81mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	15d	1	0.81mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	44d	1	0.81mi
3376 34th Ave N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	3d	1	0.84mi
4925 43rd Way N Birmingham, AL	3.0	2.0	1232	$1,461	$1.19	2d	1	0.89mi
1224 Maple St Birmingham, AL	2.0	1.0	812	$690	$0.85	19d	1	0.93mi
3376 34th St N Birmingham, AL	3.0	1.0	928	$1,200	$1.29	12d	1	0.97mi
3376 34th St N Birmingham, AL	3.0	2.0	928	$1,200	$1.29	24d	1	0.97mi
1237 Elm Ave Birmingham, AL	2.0	1.5	1312	$1,150	$0.88	44d	1	0.99mi
3373 33rd Pl N Birmingham, AL	3.0	1.0	912	$1,150	$1.26	3d	1	1.01mi
1120 Hall St Birmingham, AL	2.0	1.0	887	$775	$0.87	44d	1	1.06mi
1116 Hall St Birmingham, AL	2.0	1.0	887	$775	$0.87	44d	1	1.07mi
1045 Waverly St Birmingham, AL	3.0	1.0	1014	$1,000	$0.99	44d	1	1.07mi
1113 Elm Ave Unit c Birmingham, AL	2.0	1.0	800	$749	$0.94	44d	1	1.14mi
1249 Waverly St Birmingham, AL	3.0	1.0	1260	$1,000	$0.79	44d	1	1.21mi
1137 Sloan Ave Birmingham, AL	2.0	1.0	750	$750	$1.00	15d	1	1.28mi
1076 Green St Birmingham, AL	3.0	1.0	1172	$1,050	$0.90	16d	1	1.28mi
1439 Sloan Ave Birmingham, AL	3.0	1.0	936	$900	$0.96	44d	1	1.30mi
1415 Virginia St Birmingham, AL	2.0	1.0	781	$650	$0.83	44d	1	1.31mi
1401 Wharton Ave Birmingham, AL	2.0	1.0	1104	$950	$0.86	19d	1	1.32mi

Listing history 20 events

1. 2026-06-18
   days on market $42,000 Active 61 DOM
2. 2026-06-17
   days on market $42,000 Active 60 DOM
3. 2026-06-16
   days on market $42,000 Active 59 DOM
4. 2026-06-15
   days on market $42,000 Active 58 DOM
5. 2026-06-13
   pricedays on market $42,000 Active 56 DOM
6. 2026-06-10
   days on market $45,000 Active 53 DOM
7. 2026-06-09
   days on market $45,000 Active 52 DOM
8. 2026-06-08
   days on market $45,000 Active 51 DOM
9. 2026-06-07
   pricedays on market $45,000 Active 50 DOM
10. 2026-06-03
    days on market $46,000 Active 46 DOM
11. 2026-06-02
    days on market $46,000 Active 45 DOM
12. 2026-06-01
    days on market $46,000 Active 44 DOM
13. 2026-06-01
    price $46,000 Active 43 DOM
14. 2026-05-31
    days on market $47,000 Active 43 DOM
15. 2026-05-07
    status Pending 457-char remark

    Show marketing remark (457 chars)

    Prime rental property! This home has been a reliable, steady-performing rental for several years under the current owner. It’s move-in ready and offers ample parking, hardwood floors, and a small storage shed for added convenience. Located in a high-demand area with close proximity to everyday amenities, it continues to attract strong tenant interest. Estimated Fair Market Rent: $750–$850 based on current rental data and neighborhood trends.

16. 2026-04-09
    price $47,000 457-char remark

    Show marketing remark (457 chars)

    Prime rental property! This home has been a reliable, steady-performing rental for several years under the current owner. It’s move-in ready and offers ample parking, hardwood floors, and a small storage shed for added convenience. Located in a high-demand area with close proximity to everyday amenities, it continues to attract strong tenant interest. Estimated Fair Market Rent: $750–$850 based on current rental data and neighborhood trends.

17. 2026-03-30
    listed $49,999 Active 457-char remark

    Show marketing remark (457 chars)

    Prime rental property! This home has been a reliable, steady-performing rental for several years under the current owner. It’s move-in ready and offers ample parking, hardwood floors, and a small storage shed for added convenience. Located in a high-demand area with close proximity to everyday amenities, it continues to attract strong tenant interest. Estimated Fair Market Rent: $750–$850 based on current rental data and neighborhood trends.

18. 2024-07-04
    historical $895
19. 2024-06-12
    listed $895
20. 1981-01-22
    soldstatus $11,000

ⓘ 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: $642 · $54/mo
• Projected year-2 tax: $642 · $54/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥106°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,084
• − Mortgage interest: −$2,353
• − Property taxes: −$642
• − Insurance: −$210
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$1,222
• Taxable income: $6,564
• Est. tax owed @ 24.0%: −$1,575
• After-tax cash flow: $5,266/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: 210,422
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 12,240
• Household income: $40,486
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 594.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 57% White 27% Hispanic / Latino 14% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 7% · Canada, Guatemala
• Languages at home: 86% English-only · Spanish 13%

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: ▼ -74.54%
• Current HPI: 117.416
• Rent YoY: ▲ 3.58%
• 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

+327.3% since first listed

6 events — show timeline

• 2026-05-07 Pending — Greater Alabama MLS
• 2026-04-09 Price Changed $47,000 Greater Alabama MLS
• 2026-03-30 Listed $49,999 Greater Alabama MLS
• 2024-07-04 Rental Removed $895 APPFOLIO
• 2024-06-12 Listed for Rent $895 APPFOLIO
• 1981-01-22 Sold (Public Records) $11,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $642 · +0.0% YoY. Source: county tax records.