1800 43rd St · Birmingham, AL 35208

$149,900

3 bd · 1.5 ba · 2,774 sqft · SingleFamily public records · 281 Days on market

Built 1926 0.72 ac lot $54/sqft · 217% above area

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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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• 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

Step back in time with this beautiful two-story Victorian-style home built in1926, full of character and original details waiting to be restored to their former glory. With its spacious lay out, tall ceilings and classical architectural charm, great opportunity for a visionary.

Key facts

• 0.72 acre lot
• Garage
• Built 1926

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.8% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 6.2% in Birmingham — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 44% 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 $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 281 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $65k; list at $150k implies a 131% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 281 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 7.64%
• Cash-on-cash: 4.82%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (median comp): $85,726
• List price: $149,900
• Delta: 74.86%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1511 43rd St	0.21mi	3/2.5	2,627 (-5%)	7mo	$86,500	$33	71
1411 46th Street Ensley	0.42mi	3/2.0	2,785 (+0%)	8mo	$145,000	$52	71
1416 47th St	0.44mi	3/1.0	2,922 (+5%)	4mo	$81,000	$28	65
1337 44th St	0.43mi	3/1.5	2,938 (+6%)	9mo	$100,000	$34	63
1349 41st St	0.41mi	3/2.0	2,663 (-4%)	18mo	$75,000	$28	57
4401 Avenue K	0.62mi	3/1.0	2,966 (+7%)	20mo	$83,500	$28	41
1500 32nd St	0.55mi	3/2.5	2,424 (-13%)	12mo	$78,000	$32	39
1510 52nd St	0.61mi	4/3.5 (+1)	3,080 (+11%)	10mo	$48,000	$16	32
1319 31st Street Ensley	0.70mi	4/2.0 (+1)	2,374 (-14%)	7mo	$87,000	$37	30

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: -4.4%
• Equity multiple: 0.83×
• Total profit: $-7,225
• Equity at exit: $22,351

10-year hold

• IRR: 9.4%
• Equity multiple: 1.85×
• Total profit: $35,873
• Equity at exit: $12,961

Cash invested: $41,972 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,427 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$110 /mo · $1,324/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $169

Break-even live

Break-even rent $1,214

Max offer price $149,900

Occupancy floor 83%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2348 Court R Birmingham, AL	3.0	2.0	2400	$1,639	$0.68	19d	1	0.90mi

Listing history 18 events

1. 2026-06-18
   days on market $149,900 Active 281 DOM
2. 2026-06-17
   days on market $149,900 Active 280 DOM
3. 2026-06-16
   days on market $149,900 Active 279 DOM
4. 2026-06-15
   days on market $149,900 Active 278 DOM
5. 2026-06-13
   days on market $149,900 Active 276 DOM
6. 2026-06-10
   days on market $149,900 Active 273 DOM
7. 2026-06-09
   days on market $149,900 Active 272 DOM
8. 2026-06-08
   days on market $149,900 Active 271 DOM
9. 2026-06-07
   days on market $149,900 Active 270 DOM
10. 2026-06-03
    days on market $149,900 Active 266 DOM
11. 2026-06-02
    days on market $149,900 Active 265 DOM
12. 2026-06-01
    days on market $149,900 Active 264 DOM
13. 2026-05-31
    days on market $149,900 Active 263 DOM
14. 2025-09-09
    listed $149,900 Active 278-char remark

    Show marketing remark (278 chars)

    Step back in time with this beautiful two-story Victorian-style home built in1926, full of character and original details waiting to be restored to their former glory. With its spacious lay out, tall ceilings and classical architectural charm, great opportunity for a visionary.

15. 2022-10-11
    price $74,900
16. 2022-06-21
    price $99,900
17. 1991-07-12
    soldstatus $65,000
18. 1987-11-01
    soldstatus $50,000

ⓘ 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: $1,324 · $110/mo
• Projected year-2 tax: $1,324 · $110/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: $17,127
• − Mortgage interest: −$8,397
• − Property taxes: −$1,324
• − Insurance: −$750
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$4,361
• Taxable loss: −$444
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $2,131/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

+199.8% since first listed

5 events — show timeline

• 2025-09-09 Listed $149,900 Greater Alabama MLS
• 2022-10-11 Price Changed $74,900 Greater Alabama MLS
• 2022-06-21 Price Changed $99,900 Greater Alabama MLS
• 1991-07-12 Sold (Public Records) $65,000 Public Records
• 1987-11-01 Sold (Public Records) $50,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,324 · +0.0% YoY. Source: county tax records.