4708 Court O · Birmingham, AL 35208

$39,999

3 bd · 1.0 ba · 1,100 sqft · SingleFamily public records · 61 Days on market

Built 1925 0.32 ac lot $36/sqft · 47% below area Est $76k · 47% 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 +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious one-story home featuring 3 bedrooms and 1 bathroom with a functional layout and comfortable living spaces. The living area offers natural light and flows into the kitchen with ample cabinet and counter space for everyday living. The bedrooms provide flexibility for guests, office space, or hobbies. Enjoy a private backyard with space for relaxing or entertaining, along with practical features throughout that make this home a great option for homeowners or investors. One or more photo(s) was virtually staged.

Key facts

• 0.32 acre lot
• Built 1925
• Listed 61 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.0% 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 fast (+7.2%/yr); 122 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 35% of the median local income ($39k/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 $276 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 + 7.2% rent growth), your $11k 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 ($38k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $92k (70%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $37,599 (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 1925 — 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: 2.82% ✓
• Cap rate: 24.03%
• Cash-on-cash: 63.34%
• DSCR: 3.82
• GRM: 3.0

CMA / ARV

• ARV (median comp): $75,633
• List price: $39,999
• Delta: -47.11%
• 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
940 47th Street Ensley	0.63mi	3/1.0	1,100 (0%)	0mo	$49,000	$45	70
5621 Avenue Q	0.53mi	3/1.0	1,136 (+3%)	1mo	$72,000	$63	69
5604 Terrace O	0.46mi	4/1.0 (+1)	1,072 (-2%)	2mo	$80,000	$75	67
4732 Terrace	0.65mi	3/1.0	1,125 (+2%)	0mo	$29,500	$26	65
1508 W 51st St	0.19mi	3/1.5	1,264 (+15%)	2mo	$30,000	$24	62
5541 Court P	0.51mi	2/1.0 (-1)	1,035 (-6%)	1mo	$35,000	$34	61
5800 Court Q	0.64mi	3/1.0	1,024 (-7%)	2mo	$111,000	$108	57
1205 41st Street Ensley	0.57mi	3/1.0	1,204 (+10%)	2mo	$125,000	$104	56
1515 35th St	0.55mi	3/1.5	1,205 (+10%)	1mo	$80,000	$66	56
5528 Avenue Q	0.49mi	3/1.0	1,252 (+14%)	2mo	$52,900	$42	52
1429 33rd Street Ensley	0.71mi	2/1.0 (-1)	1,016 (-8%)	2mo	$45,000	$44	48
3300 Avenue Q	0.71mi	2/1.0 (-1)	1,227 (+12%)	0mo	$35,000	$29	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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 67.3%
• Equity multiple: 4.23×
• Total profit: $36,226
• Equity at exit: $5,964

10-year hold

• IRR: 72.8%
• Equity multiple: 10.17×
• Total profit: $102,664
• Equity at exit: $3,458

Cash invested: $11,200 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,130 high
• Mortgage (P&I): −$210
• Tax from tax record: −$75 /mo · $899/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $591

Break-even live

Break-even rent $381

Max offer price $39,999

Occupancy floor 43%

Sensitivity live

Price	-10% $614	-5% $602	+0% $591	+5% $580	+10% $568
Rent	-10% $502	-5% $547	+0% $591	+5% $636	+10% $680
Rate	-1.0pp $611	-0.5pp $601	base $591	+0.5pp $581	+1.0pp $570

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1429 47th Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	768	$750	$0.98	44d	1	0.10mi
1556 Burgin Ave Birmingham, AL	4.0	1.0	1168	$1,100	$0.94	20d	1	0.11mi
1556 Burgin Ave Birmingham, AL	3.0	1.0	1168	$1,100	$0.94	22d	1	0.11mi
1515 45th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1440	$875	$0.61	4d	1	0.15mi
1606 49th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1136	$1,100	$0.97	44d	1	0.17mi
1410 46th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1200	$1,000	$0.83	44d	1	0.18mi
1509 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1260	$1,123	$0.89	12d	1	0.22mi
1632 51st St W Birmingham, AL	3.0	1.0	1337	$1,000	$0.75	2d	1	0.24mi
1632 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1337	$1,100	$0.82	44d	1	0.25mi
1604 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1100	$1,200	$1.09	24d	1	0.26mi
4619 Terrace Q Birmingham, AL	3.0	2.0	1198	$900	$0.75	44d	1	0.26mi
1436 44th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1435	$1,495	$1.04	2d	1	0.26mi
4716 Court M Birmingham, AL	4.0	1.0	932	$1,200	$1.29	44d	1	0.29mi
1607 43rd Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1435	$1,150	$0.80	24d	1	0.30mi
1757 48th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1164	$1,295	$1.11	3d	1	0.36mi
1112 47th St W Birmingham, AL	2.0	1.0	1166	$975	$0.84	44d	1	0.37mi
1617 42nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1413	$1,030	$0.73	16d	1	0.37mi
1540 42nd Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	899	$1,037	$1.15	44d	1	0.38mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	15d	1	0.41mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	20d	1	0.41mi
5516 Avenue P Birmingham, AL	2.0	1.0	888	$1,000	$1.13	44d	1	0.44mi
1037 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1299	$1,000	$0.77	44d	1	0.45mi
1520 41st Street Ensley Birmingham, AL	3.0	2.0	1068	$1,195	$1.12	44d	1	0.45mi
5211 Ter Q Unit Q Birmingham, AL	2.0	1.0	756	$775	$1.03	44d	1	0.45mi
5604 Terrace O Birmingham, AL	4.0	1.0	1072	$1,325	$1.24	44d	1	0.46mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	44d	1	0.47mi
5320 Ter Q Unit Q Birmingham, AL	3.0	2.0	1116	$1,250	$1.12	44d	1	0.49mi
1429 Warrior Rd Birmingham, AL	3.0	1.0	1036	$850	$0.82	16d	1	0.50mi
1420 Warrior Rd Birmingham, AL	3.0	1.0	1061	$1,050	$0.99	44d	1	0.53mi
5713 Avenue P Unit P Birmingham, AL	3.0	1.0	1300	$1,100	$0.85	20d	1	0.55mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	44d	1	0.55mi
5717 Avenue O Unit O Birmingham, AL	3.0	2.0	1029	$1,250	$1.21	44d	1	0.56mi
5725 Avenue O Unit O Birmingham, AL	3.0	1.0	957	$1,073	$1.12	24d	1	0.58mi
4801 Avenue S Birmingham, AL	3.0	1.0	1310	$1,000	$0.76	44d	1	0.60mi
4637 Court S Birmingham, AL	3.0	1.0	1225	$975	$0.80	2d	1	0.61mi
4732 Court S Birmingham, AL	3.0	1.0	1372	$1,100	$0.80	44d	1	0.61mi
4736 Court S Birmingham, AL	3.0	1.5	1300	$1,200	$0.92	4d	1	0.61mi
4825 Avenue S Birmingham, AL	3.0	1.0	1310	$1,050	$0.80	16d	1	0.62mi
1306 35th Street Ensley Birmingham, AL	3.0	2.0	1100	$1,173	$1.07	4d	1	0.64mi
5808 Court O Birmingham, AL	3.0	1.5	1227	$1,100	$0.90	44d	1	0.64mi

Listing history 28 events

1. 2026-06-13
   statusdays on market $39,999 Pending 61 DOM
2. 2026-06-10
   days on market $39,999 Active 60 DOM
3. 2026-06-09
   days on market $39,999 Active 59 DOM
4. 2026-06-08
   days on market $39,999 Active 58 DOM
5. 2026-06-07
   days on market $39,999 Active 57 DOM
6. 2026-06-03
   days on market $39,999 Active 53 DOM
7. 2026-06-02
   days on market $39,999 Active 52 DOM
8. 2026-06-01
   days on market $39,999 Active 51 DOM
9. 2026-05-31
   days on market $39,999 Active 50 DOM
10. 2026-05-10
    price $49,900 522-char remark

    Show marketing remark (522 chars)

    Spacious one-story home featuring 3 bedrooms and 1 bathroom with a functional layout and comfortable living spaces. The living area offers natural light and flows into the kitchen with ample cabinet and counter space for everyday living. The bedrooms provide flexibility for guests, office space, or hobbies. Enjoy a private backyard with space for relaxing or entertaining, along with practical features throughout that make this home a great option for homeowners or investors. One or more photo(s) was virtually staged.

11. 2026-05-05
    price $59,900 522-char remark

    Show marketing remark (522 chars)

    Spacious one-story home featuring 3 bedrooms and 1 bathroom with a functional layout and comfortable living spaces. The living area offers natural light and flows into the kitchen with ample cabinet and counter space for everyday living. The bedrooms provide flexibility for guests, office space, or hobbies. Enjoy a private backyard with space for relaxing or entertaining, along with practical features throughout that make this home a great option for homeowners or investors. One or more photo(s) was virtually staged.

12. 2026-04-10
    listed $132,250 Active 522-char remark

    Show marketing remark (522 chars)

    Spacious one-story home featuring 3 bedrooms and 1 bathroom with a functional layout and comfortable living spaces. The living area offers natural light and flows into the kitchen with ample cabinet and counter space for everyday living. The bedrooms provide flexibility for guests, office space, or hobbies. Enjoy a private backyard with space for relaxing or entertaining, along with practical features throughout that make this home a great option for homeowners or investors. One or more photo(s) was virtually staged.

13. 2024-01-13
    historical $870
14. 2024-01-09
    historical $870
15. 2024-01-05
    price $870
16. 2024-01-03
    price $870
17. 2023-12-02
    price $920
18. 2023-12-01
    price $920
19. 2023-10-28
    price $945
20. 2023-10-26
    price $945
21. 2023-10-20
    price $970
22. 2023-10-16
    price $970
23. 2023-10-08
    price $980
24. 2023-10-05
    price $980
25. 2023-09-20
    listed $990
26. 2023-09-19
    listed $990
27. 2021-05-18
    soldstatus $7,237,964
28. 1995-07-28
    soldstatus $34,500

ⓘ 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: $899 · $75/mo
• Projected year-2 tax: $899 · $75/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 19 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: $13,557
• − Mortgage interest: −$2,241
• − Property taxes: −$899
• − Insurance: −$200
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$1,164
• Taxable income: $6,884
• Est. tax owed @ 24.0%: −$1,652
• After-tax cash flow: $5,441/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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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 (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% 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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

+44.6% since first listed

19 events — show timeline

• 2026-05-10 Price Changed $49,900 Greater Alabama MLS
• 2026-05-05 Price Changed $59,900 Greater Alabama MLS
• 2026-04-10 Listed $132,250 Greater Alabama MLS
• 2024-01-13 Rental Removed $870 APPFOLIO
• 2024-01-09 Rental Removed $870 RENT.
• 2024-01-05 Price Changed $870 APPFOLIO
• 2024-01-03 Price Changed $870 RENT.
• 2023-12-02 Price Changed $920 APPFOLIO
• 2023-12-01 Price Changed $920 RENT.
• 2023-10-28 Price Changed $945 APPFOLIO
• 2023-10-26 Price Changed $945 RENT.
• 2023-10-20 Price Changed $970 APPFOLIO
• 2023-10-16 Price Changed $970 RENT.
• 2023-10-08 Price Changed $980 APPFOLIO
• 2023-10-05 Price Changed $980 RENT.
• 2023-09-20 Listed for Rent $990 APPFOLIO
• 2023-09-19 Listed for Rent $990 RENT.
• 2021-05-18 Sold (Public Records) $7,237,964 Public Records
• 1995-07-28 Sold (Public Records) $34,500 Public Records

Property tax history

+1.8%/yr

Latest (2025): $899 · +0.0% YoY. Source: county tax records.