3101 Lorna Rd #1714 · Hoover, AL 35216

$108,000

1 bd · 1.0 ba · 640 sqft · Condo public records · 45 Days on market

Built 1969 $169/sqft · at area comps Est $107k · at est.

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Why this score? — see what drove the D- 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 +7.0/30.0
• ARV discount +6.9/15.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This One Bedroom Main level condo is bursting with opportunity! Come and put your touch on this unique property! Condo boasts living area with separate dining area, kitchen, Master Bedroom, full bathroom plus utility closet with washer/dryer connections! This complex includes access to the neighborhood pool! Located in the heart of Hoover: close to shopping, restaurants and interstate. Monthly HOA includes water, sewage, and pest control. WELCOME HOME!

Key facts

• Cabinet space
• Open living space
• In-unit laundry area

Tags

• OPEN LIVING SPACE
• STAINLESS STEEL APPLIANCES
• CABINET SPACE
• STONE COUNTERS
• EYE-CATCHING BACKSPLASH
• IN-UNIT LAUNDRY AREA

Property features AI

Finance

• Other: Property has paved road access; Located in Four Seasons subdivision
• HOA & community: Monthly condo fee of $275; HOA fees cover garbage collection, common grounds maintenance, building insurance, management fee, pest control, recreation facility, sewage service, and water

Exterior

• Parking: Unassigned parking
• Utilities: Public water; Connected sewer; Underground utilities; Electric water heater; Internet service available; Ceiling fans; Storm door
• Home design: Condo unit (level 2); Crawl space foundation; One-side brick and wood construction; Existing (previously built)
• Construction: 1-side brick exterior; Wood construction; Crawl space foundation
• Exterior features: Covered patio; Covered deck; Storage building; Community pool (in-ground) with perimeter fencing; Sidewalks; Street lights; Swimming allowed

Interior

• Kitchen: Stone countertops; Electric cooktop; Built-in dishwasher; Refrigerator; Some stainless appliances
• Bedrooms: 1 bedroom on main level with walk-in closet
• Flooring: Hardwood laminate; Tile flooring
• Bathrooms: 1 full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Smooth ceilings; Recessed lighting
• Laundry & utility: Washer hookup in closet on main level; Electric dryer hookup; Has laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $105k (3.0% below list) — sets the bar for market timing.
• Cap rate 4.5% vs local median 2.4% in Hoover — 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 84/100 on livability (#1 in AL, #630 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• Hoover City (urban): math 45% / reading 66% proficiency, ranked #8 of 129 in AL (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Green Valley Elementary School (math 37% / reading 57%, grade D-, #142 of 627 statewide, top 25%, 476 students, 55% FRL); Hoover High School (math 46% / reading 47%, grade D-, #17 of 305 statewide, top 5%, 2,841 students, 32% FRL) — zoned schools average 44% FRL vs 19% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent is only 18% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $747 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $83k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $104,760 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 4.54%
• Cash-on-cash: -6.26%
• DSCR: 0.72
• GRM: 8.3

CMA / ARV

• ARV (median comp): $106,603
• List price: $108,000
• Delta: 1.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -27.5%
• Equity multiple: 0.08×
• Total profit: $-27,811
• Equity at exit: $16,103

10-year hold

• IRR: -27.0%
• Equity multiple: -0.26×
• Total profit: $-38,229
• Equity at exit: $9,338

Cash invested: $30,240 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$566
• Tax from tax record: −$130 /mo · $1,562/yr
• Insurance: −$45
• HOA est. from 2 same-building comps: −$275
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $-158

Break-even live

Break-even rent $1,287

Max offer price $80,137

Occupancy floor —

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3101 Lorna Rd #1718 Hoover, AL	1.0	1.0	640	$1,095	$1.71	3d	1	0.02mi
2250 Little Valley Rd Hoover, AL	3.0	1.0–2.0	894	$1,137	$1.27	43d	1	0.45mi
2262-2284 Chapel Hill Rd Unit 2262-A Hoover, AL	1.0	1.0	686	$1,074	$1.57	43d	1	0.55mi
2014 Montreat Pkwy Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	23d	1	0.71mi
2014 Montreat Pkwy Unit D Vestavia Hills, AL	1.0	1.0	690	$1,045	$1.51	3d	1	0.72mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$960	$1.01	21d	13	0.86mi
1716 Vestawood Ct Unit 1722C Vestavia Hills, AL	1.0	1.0	697	$1,059	$1.52	43d	1	1.07mi
3565 Lorna Rd Hoover, AL	1.0–3.0	1.0–1.5	975	$775	$0.79	43d	1	1.28mi
2149 Emerald Pointe Dr Birmingham, AL	1.0–3.0	1.0–1.5	885	$899	$1.02	23d	1	1.31mi
2555 Mountain Lodge Cir Vestavia Hills, AL	1.0–3.0	1.0–2.0	1000	$899	$0.90	43d	1	1.42mi
3627 Cedarbrook Dr Hoover, AL	1.0–2.0	1.0–2.0	894	$865	$0.97	19d	1	1.43mi
2071 Alpine Vlg Birmingham, AL	1.0–3.0	1.0–2.0	1000	$825	$0.82	2d	9	1.49mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-18
   days on market $108,000 Active 45 DOM
2. 2026-06-17
   days on market $108,000 Active 44 DOM
3. 2026-06-16
   days on market $108,000 Active 43 DOM
4. 2026-06-15
   days on market $108,000 Active 42 DOM
5. 2026-06-13
   days on market $108,000 Active 40 DOM
6. 2026-06-10
   days on market $108,000 Active 37 DOM
7. 2026-06-09
   days on market $108,000 Active 36 DOM
8. 2026-06-08
   days on market $108,000 Active 35 DOM
9. 2026-06-07
   days on market $108,000 Active 34 DOM
10. 2026-06-05
    days on market $108,000 Active 31 DOM
11. 2026-06-03
    days on market $108,000 Active 30 DOM
12. 2026-06-02
    days on market $108,000 Active 29 DOM
13. 2026-06-01
    days on market $108,000 Active 28 DOM
14. 2026-05-31
    days on market $108,000 Active 27 DOM
15. 2026-05-04
    listed $108,000 Active 670-char remark
16. 2023-10-20
    soldstatus $83,000
17. 2023-10-19
    soldstatus $83,000 Sold 456-char remark

    Show marketing remark (456 chars)

    This One Bedroom Main level condo is bursting with opportunity! Come and put your touch on this unique property! Condo boasts living area with separate dining area, kitchen, Master Bedroom, full bathroom plus utility closet with washer/dryer connections! This complex includes access to the neighborhood pool! Located in the heart of Hoover: close to shopping, restaurants and interstate. Monthly HOA includes water, sewage, and pest control. WELCOME HOME!

18. 2023-10-10
    status Pending 456-char remark

    Show marketing remark (456 chars)

    This One Bedroom Main level condo is bursting with opportunity! Come and put your touch on this unique property! Condo boasts living area with separate dining area, kitchen, Master Bedroom, full bathroom plus utility closet with washer/dryer connections! This complex includes access to the neighborhood pool! Located in the heart of Hoover: close to shopping, restaurants and interstate. Monthly HOA includes water, sewage, and pest control. WELCOME HOME!

19. 2023-10-05
    listed $83,000 Active 456-char remark

    Show marketing remark (456 chars)

    This One Bedroom Main level condo is bursting with opportunity! Come and put your touch on this unique property! Condo boasts living area with separate dining area, kitchen, Master Bedroom, full bathroom plus utility closet with washer/dryer connections! This complex includes access to the neighborhood pool! Located in the heart of Hoover: close to shopping, restaurants and interstate. Monthly HOA includes water, sewage, and pest control. WELCOME HOME!

20. 2023-10-03
    historical $83,000 456-char remark

    Show marketing remark (456 chars)

    This One Bedroom Main level condo is bursting with opportunity! Come and put your touch on this unique property! Condo boasts living area with separate dining area, kitchen, Master Bedroom, full bathroom plus utility closet with washer/dryer connections! This complex includes access to the neighborhood pool! Located in the heart of Hoover: close to shopping, restaurants and interstate. Monthly HOA includes water, sewage, and pest control. WELCOME HOME!

ⓘ 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: $1,562 · $130/mo
• Projected year-2 tax: $1,562 · $130/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $13,046
• − Mortgage interest: −$6,050
• − Property taxes: −$1,562
• − Insurance: −$540
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − HOA: −$3,300
• − Depreciation: −$3,142
• Taxable loss: −$3,636
• Est. tax savings @ 24.0%: +$873
• After-tax cash flow: $-1,020/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: Hoover City
• NCES district ID: 0100007
• Math proficiency: 45% ▼ -25.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $76,210
• Composite: 49.77/100
• National rank: #1960
• State rank: #8 of 129 in AL

Livability — Hoover

• Score: 84/100
• State rank: #1
• US rank: #630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hoover, AL
• County: Jefferson County · 527,445 people
• City population: 76,805
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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 0.56)
• Race & ethnicity: White 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 1%

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: ▼ -259.83%
• Current HPI: 239.8705
• Rent YoY: ▲ 2.59%
• 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

• 2026-05-04 Listed $108,000 Greater Alabama MLS
• 2023-10-20 Sold (Public Records) $83,000 Public Records
• 2023-10-19 Sold (MLS) $83,000 Greater Alabama MLS
• 2023-10-10 Pending — Greater Alabama MLS
• 2023-10-05 Listed $83,000 Greater Alabama MLS
• 2023-10-03 Coming Soon $83,000 Greater Alabama MLS

Property tax history

+8.3%/yr

Latest (2025): $1,562 · +19.3% YoY. Source: county tax records.