602 8th Ave · Midfield, AL 35228

$19,900

2 bd · 1.0 ba · 750 sqft · SingleFamily public records · 107 Days on market

Built 1949 6,969 sqft lot $27/sqft · 68% below area ↓ 43% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Great Investment property!!! Handyman Special!!! Property sold as is. ..

Key facts

• 6,969 sq ft lot
• Built 1949
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.
• Cap rate 44.5% vs local median 10.0% in Midfield — 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 64/100 on livability (#164 in AL) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F, employment F, health & safety 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.
• Zoned schools: Midfield Elementary School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 390 students, 84% FRL); Rutledge School (math 0% / reading 15%, grade F, #241 of 257 statewide, top 95%, 315 students, 92% FRL); Midfield High School (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 340 students, 87% FRL).
• Market conditions: Rents soft (-1.5%/yr); 88 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 5.05% ✓
• Cap rate: 44.45%
• Cash-on-cash: 136.28%
• DSCR: 7.06
• GRM: 1.6

CMA / ARV

• ARV (median comp): $61,524
• List price: $19,900
• Delta: -67.65%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
602 8th Ave	0.00mi	2/1.0	750 (0%)	0mo	$18,000	$24	100
16 Wilkes Cir	0.64mi	2/1.0	720 (-4%)	13mo	$11,500	$16	53
207 4th Ave	0.60mi	2/1.0	768 (+2%)	22mo	$25,000	$33	49

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: —
• Equity multiple: 7.13×
• Total profit: $34,161
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 13.63×
• Total profit: $70,374
• Equity at exit: $1,721

Cash invested: $5,572 (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: 88
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,006 high
• Mortgage (P&I): −$104
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $633

Break-even live

Break-even rent $205

Max offer price $19,900

Occupancy floor 32%

Sensitivity live

Price	-10% $644	-5% $638	+0% $633	+5% $627	+10% $622
Rent	-10% $553	-5% $593	+0% $633	+5% $673	+10% $712
Rate	-1.0pp $643	-0.5pp $638	base $633	+0.5pp $628	+1.0pp $622

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 10th Ave Birmingham, AL	3.0	1.0	1060	$850	$0.80	45d	1	0.13mi
36 Wilkes Cir Birmingham, AL	2.0	1.0	762	$875	$1.15	45d	1	0.68mi
407 Fairfax Dr Fairfield, AL	1.0	1.5	850	$1,160	$1.36	45d	2	0.77mi
412 Fairfax Dr Unit 424-10 Fairfield, AL	3.0	1.5	1035	$1,275	$1.23	13d	1	0.77mi
412 Fairfax Dr Unit 424-3 Fairfield, AL	3.0	1.5	1035	$1,200	$1.16	12d	1	0.77mi
412 Fairfax Dr Unit 436-11 Fairfield, AL	2.0	1.5	935	$910	$0.97	12d	1	0.77mi
412 Fairfax Dr Unit 436-10 Fairfield, AL	2.0	1.0	888	$890	$1.00	12d	1	0.77mi
412 Fairfax Dr Unit 432-13 Fairfield, AL	1.0	1.0	555	$775	$1.40	12d	1	0.77mi
412 Fairfax Dr Unit 400-12 Fairfield, AL	2.0	1.0	888	$915	$1.03	12d	1	0.77mi
412 Fairfax Dr Unit 416-11 Fairfield, AL	2.0	1.5	935	$975	$1.04	4d	1	0.77mi
412 Fairfax Dr Unit 444-12 Fairfield, AL	2.0	1.0	888	$910	$1.02	12d	1	0.77mi
412 Fairfax Dr Unit 400-1 Fairfield, AL	2.0	1.5	935	$1,175	$1.26	4d	1	0.77mi
925 Woodward Rd Birmingham, AL	2.0	2.0	1104	$950	$0.86	45d	1	0.78mi
1565 Miles St Dolomite, AL	3.0	2.0	1120	$1,175	$1.05	17d	1	1.22mi
4506 Letson St Brighton, AL	3.0	2.0	1032	$1,200	$1.16	25d	1	1.23mi
200 Woodward Dr Bessemer, AL	3.0	1.0	900	$1,123	$1.25	3d	1	1.28mi
216 Pine St Bessemer, AL	3.0	2.0	1000	$1,200	$1.20	45d	1	1.41mi
6516 Millard Fuller Rd Fairfield, AL	3.0	1.5	1120	$950	$0.85	4d	1	1.50mi

Listing history 18 events

1. 2026-06-17
   days on market $19,900 Active 107 DOM
2. 2026-06-16
   days on market $19,900 Active 106 DOM
3. 2026-06-15
   days on market $19,900 Active 105 DOM
4. 2026-06-13
   days on market $19,900 Active 103 DOM
5. 2026-06-13
   days on market $19,900 Active 102 DOM
6. 2026-06-10
   days on market $19,900 Active 100 DOM
7. 2026-06-09
   days on market $19,900 Active 99 DOM
8. 2026-06-08
   days on market $19,900 Active 98 DOM
9. 2026-06-07
   days on market $19,900 Active 97 DOM
10. 2026-06-05
    days on market $19,900 Active 94 DOM
11. 2026-06-03
    days on market $19,900 Active 93 DOM
12. 2026-06-02
    days on market $19,900 Active 92 DOM
13. 2026-06-01
    days on market $19,900 Active 91 DOM
14. 2026-05-31
    days on market $19,900 Active 90 DOM
15. 2026-04-27
    price $19,900 72-char remark

    Show marketing remark (72 chars)

    Great Investment property!!! Handyman Special!!! Property sold as is. ..

16. 2026-03-02
    listed $29,900 Active 72-char remark

    Show marketing remark (72 chars)

    Great Investment property!!! Handyman Special!!! Property sold as is. ..

17. 2025-04-15
    price $29,700
18. 2025-04-03
    price $34,700

ⓘ 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: $589 · $49/mo
• Projected year-2 tax: $589 · $49/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 6/10 Major 7 d/yr ≥108°F today · 17 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: $12,069
• − Mortgage interest: −$1,115
• − Property taxes: −$589
• − Insurance: −$100
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$579
• Taxable income: $7,756
• Est. tax owed @ 24.0%: −$1,861
• After-tax cash flow: $5,732/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

-42.7% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $19,900 Greater Alabama MLS
• 2026-03-02 Listed $29,900 Greater Alabama MLS
• 2025-04-15 Price Changed $29,700 Greater Alabama MLS
• 2025-04-03 Price Changed $34,700 Greater Alabama MLS

Property tax history

+1.8%/yr

Latest (2025): $589 · -11.6% YoY. Source: county tax records.