604 Overlook Dr · Midfield, AL 35228

$80,000

3 bd · 1.0 ba · 1,612 sqft · SingleFamily public records · 106 Days on market

Built 1965 0.30 ac lot $50/sqft · 15% below area Est $95k · 15% 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 +14.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Appreciation +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +0.7/10.0

Listing remarks MLS

Easy access to Highway. Mature trees. In a quiet neighborhood. Just needs your personal touch! Great for an investor.

Key facts

• Quiet neighborhood
• Mature trees
• 0.3 acre lot

Tags

• EASY ACCESS TO HIGHWAY
• MATURE TREES
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $73k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 10.0% in Midfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 64/100 on livability (#164 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• Midfield City (suburban): math 2% / reading 14% proficiency, ranked #126 of 129 in AL (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 87 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $553 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 + 0.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $80k implies a 200% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $72,800 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. 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.
7. 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.
8. 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: 1.57% ✓
• Cap rate: 12.63%
• Cash-on-cash: 22.63%
• DSCR: 2.01
• GRM: 5.3

CMA / ARV

• ARV (median comp): $94,536
• List price: $80,000
• Delta: -15.38%
• 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
801 Rutledge Dr	0.23mi	2/1.0 (-1)	1,613 (+0%)	3mo	$41,000	$25	82
602 5th Ave	0.26mi	4/1.5 (+1)	1,600 (-1%)	11mo	$159,900	$100	70
506 Westfield Dr	0.31mi	3/2.0	1,548 (-4%)	8mo	$120,000	$78	68
216 7th St	0.04mi	4/1.0 (+1)	1,460 (-9%)	13mo	$3,000	$2	67
817 Oakland Dr	0.44mi	3/2.0	1,654 (+3%)	7mo	$164,000	$99	65
716 Westfield Dr	0.42mi	3/1.5	1,541 (-4%)	10mo	$155,000	$101	63
821 Westfield Dr	0.55mi	4/2.0 (+1)	1,642 (+2%)	7mo	$181,000	$110	56
1040 Glen Oak Dr	0.53mi	3/2.0	1,684 (+4%)	9mo	$164,000	$97	56
1120 9th Ave	0.66mi	3/1.0	1,437 (-11%)	1mo	$72,900	$51	50
617 8th Ave	0.47mi	4/2.0 (+1)	1,436 (-11%)	3mo	$85,000	$59	48
828 Westfield Dr	0.57mi	4/1.5 (+1)	1,424 (-12%)	12mo	$144,000	$101	37
641 Park Ave	0.45mi	4/2.5 (+1)	1,846 (+14%)	11mo	$99,555	$54	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.46×
• Total profit: $10,297
• Equity at exit: $11,928

10-year hold

• IRR: 18.4%
• Equity multiple: 2.32×
• Total profit: $29,538
• Equity at exit: $6,917

Cash invested: $22,400 (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 35228

• Home prices YoY: -3.5%
• Rents YoY: -1.5%
• Active inventory: 87
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$420
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $422

Break-even live

Break-even rent $717

Max offer price $80,000

Occupancy floor 61%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
801 Rutledge Dr Birmingham, AL	4.0	2.0	1808	$1,600	$0.88	1d	1	0.25mi
608 5th Ave Midfield, AL	3.0	1.0	1241	$795	$0.64	21d	1	0.27mi
616 Rutledge Dr Birmingham, AL	3.0	1.0	1416	$1,095	$0.77	21d	1	0.38mi
617 8th Ave Birmingham, AL	4.0	2.0	1436	$1,350	$0.94	1d	1	0.48mi
733 Glen Ridge Dr Fairfield, AL	3.0	1.0	1225	$1,378	$1.12	1d	1	0.49mi
800 Fairfax Dr Fairfield, AL	4.0	2.0	1200	$1,650	$1.38	1d	1	0.60mi
605 10th Ave Birmingham, AL	3.0	1.0	1060	$850	$0.80	43d	1	0.61mi
603 11th Ave Birmingham, AL	3.0	1.0	1289	$1,100	$0.85	43d	1	0.67mi
806 12th Ave Birmingham, AL	3.0	1.0	1262	$1,075	$0.85	43d	1	0.72mi
1303 9th Ave Birmingham, AL	3.0	2.0	1920	$1,200	$0.62	43d	1	0.73mi
222 4th Ave Birmingham, AL	3.0	1.0	1300	$1,050	$0.81	43d	1	0.73mi
1401 9th Ave Birmingham, AL	3.0	2.0	1222	$1,200	$0.98	43d	1	0.76mi
226 3rd Ave Birmingham, AL	4.0	2.0	1248	$1,300	$1.04	43d	1	0.77mi
1109 12th Ave Birmingham, AL	4.0	2.0	1217	$1,475	$1.21	3d	1	0.80mi
925 Woodward Rd Birmingham, AL	2.0	2.0	1104	$950	$0.86	43d	1	0.91mi
923 Woodward Rd Birmingham, AL	3.0	1.0	1273	$1,200	$0.94	23d	1	0.91mi
1206 15th St Birmingham, AL	3.0	1.0	1600	$950	$0.59	43d	1	0.93mi
832 Alden Ave Birmingham, AL	4.0	2.0	1231	$1,150	$0.93	23d	1	1.00mi
80 Wilkes Cir Birmingham, AL	4.0	2.0	1078	$1,200	$1.11	14d	1	1.04mi
63 Wilkes Cir Unit 1 Birmingham, AL	4.0	1.0	1164	$1,250	$1.07	43d	1	1.05mi
63 Wilkes Cir Birmingham, AL	4.0	1.0	1164	$1,200	$1.03	43d	1	1.05mi
1565 Miles St Dolomite, AL	3.0	2.0	1120	$1,175	$1.05	16d	1	1.06mi
6629 Grasselli Rd Fairfield, AL	4.0	1.0	1114	$1,295	$1.16	43d	1	1.07mi
6516 Millard Fuller Rd Fairfield, AL	3.0	1.5	1120	$950	$0.85	3d	1	1.09mi

Listing history 20 events

1. 2026-06-18
   days on market $80,000 Active 106 DOM
2. 2026-06-17
   days on market $80,000 Active 105 DOM
3. 2026-06-16
   days on market $80,000 Active 104 DOM
4. 2026-06-15
   days on market $80,000 Active 103 DOM
5. 2026-06-13
   days on market $80,000 Active 101 DOM
6. 2026-06-13
   days on market $80,000 Active 100 DOM
7. 2026-06-10
   days on market $80,000 Active 98 DOM
8. 2026-06-09
   days on market $80,000 Active 97 DOM
9. 2026-06-08
   days on market $80,000 Active 96 DOM
10. 2026-06-07
    days on market $80,000 Active 95 DOM
11. 2026-06-05
    days on market $80,000 Active 92 DOM
12. 2026-06-03
    days on market $80,000 Active 91 DOM
13. 2026-06-02
    days on market $80,000 Active 90 DOM
14. 2026-06-01
    days on market $80,000 Active 89 DOM
15. 2026-05-31
    days on market $80,000 Active 88 DOM
16. 2026-04-24
    price $90,000 117-char remark

    Show marketing remark (117 chars)

    Easy access to Highway. Mature trees. In a quiet neighborhood. Just needs your personal touch! Great for an investor.

17. 2026-04-24
    price $115,000 117-char remark

    Show marketing remark (117 chars)

    Easy access to Highway. Mature trees. In a quiet neighborhood. Just needs your personal touch! Great for an investor.

18. 2026-03-04
    listed $125,000 Active 117-char remark

    Show marketing remark (117 chars)

    Easy access to Highway. Mature trees. In a quiet neighborhood. Just needs your personal touch! Great for an investor.

19. 2009-02-23
    soldstatus $26,700
20. 1980-04-02
    soldstatus $26,700

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $1,366 · $114/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 6 d/yr ≥108°F today · 15 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: $15,024
• − Mortgage interest: −$4,481
• − Property taxes: −$1,366
• − Insurance: −$400
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$2,327
• Taxable income: $4,046
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $4,098/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: Midfield City
• NCES district ID: 0102350
• Math proficiency: 2% ▼ -18.00%
• Reading proficiency: 14% ▼ -5.00%
• Median HH income: $39,267
• Composite: 6.89/100
• National rank: #9978
• State rank: #126 of 129 in AL

Livability — Midfield

• Score: 64/100
• State rank: #164
• US rank: #14536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midfield, AL
• County: Jefferson County · 527,445 people
• City population: 10,216
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 10,216
• Household income: $50,815
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 456.0

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 (89%)
• Race & ethnicity: Black 89% Hispanic / Latino 5% Two or more races 5% White 5%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 5%

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: ▼ -4.84%
• Current HPI: 134.8633
• Rent YoY: ▼ -1.47%
• 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

+237.1% since first listed

5 events — show timeline

• 2026-04-24 Price Changed $90,000 Greater Alabama MLS
• 2026-04-24 Price Changed $115,000 Greater Alabama MLS
• 2026-03-04 Listed $125,000 Greater Alabama MLS
• 2009-02-23 Sold (Public Records) $26,700 Public Records
• 1980-04-02 Sold (Public Records) $26,700 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,366 · -12.8% YoY. Source: county tax records.