1007 Patton Creek Ln #1007 · Hoover, AL 35226

$169,900

3 bd · 2.0 ba · 1,414 sqft · Condo · 70 Days on market

Built 1978 Fair condition $120/sqft · at area comps Est $168k · at est.

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Why this score? — see what drove the C 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 +20.7/30.0
• 1% rule +7.8/10.0
• ARV discount +7.0/15.0
• DSCR +6.6/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1007 Patton Creek Lane, a spacious 3-bedroom, 2-bath condo in a retreat-style community. Hardwood laminates allow for easy living in the living areas and carpet in the bedrooms. Recent updates include primary suite and guest bath improvements in 2021 with painted cabinets, new tub, and tile, kitchen cabinets painted in 2026, dishwasher (2025), refrigerator (2021), and a roof replaced 2024. The home features large walk-in closets, washer/dryer hookups, a covered porch and a fireplace that the association services each year. Two exterior storage closets for those miscellaneous items or holiday decor. Community amenities include a clubhouse, 24-hour fitness center, lighted tennis court, and pool. Conveniently located within a short distance to Simmons Middle School and Gwin Elementary, and just minutes from shopping, the library, restaurants, and more. Hurry before this one is gone!

Key facts

• Community pool
• Built 1978
• Listed 70 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $170k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $160k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• Market conditions: Rents rising (+3.7%/yr); 203 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $1k of loan paydown is wiped out by about $5k 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 70 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $145k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1978 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
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: 1.28% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.78%
• DSCR: 1.26
• GRM: 6.5

CMA / ARV

• ARV (median comp): $168,138
• List price: $169,900
• Delta: 1.05%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.7% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-11,174
• Equity at exit: $25,333

10-year hold

• IRR: 4.5%
• Equity multiple: 1.34×
• Total profit: $16,374
• Equity at exit: $14,690

Cash invested: $47,572 (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 35226

• Rents YoY: 3.7%
• Active inventory: 203
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,169 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA est. from 1 same-building comp: −$310
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $229

Break-even live

Break-even rent $1,879

Max offer price $169,900

Occupancy floor 84%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1755 Napier Dr Hoover, AL	4.0	3.0	1722	$2,250	$1.31	43d	1	0.45mi
3801 Galleria Woods Dr Hoover, AL	1.0–3.0	1.0–2.0	1115	$1,535	$1.38	1d	47	1.45mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-18
   days on market $169,900 Active 70 DOM
2. 2026-06-17
   days on market $169,900 Active 69 DOM
3. 2026-06-16
   days on market $169,900 Active 68 DOM
4. 2026-06-15
   days on market $169,900 Active 67 DOM
5. 2026-06-13
   days on market $169,900 Active 65 DOM
6. 2026-06-10
   days on market $169,900 Active 62 DOM
7. 2026-06-09
   days on market $169,900 Active 61 DOM
8. 2026-06-08
   days on market $169,900 Active 60 DOM
9. 2026-06-07
   days on market $169,900 Active 59 DOM
10. 2026-06-05
    days on market $169,900 Active 56 DOM
11. 2026-06-03
    days on market $169,900 Active 55 DOM
12. 2026-06-02
    days on market $169,900 Active 54 DOM
13. 2026-06-01
    days on market $169,900 Active 53 DOM
14. 2026-05-31
    days on market $169,900 Active 52 DOM
15. 2026-04-25
    price $169,900 903-char remark

    Show marketing remark (903 chars)

    Welcome to 1007 Patton Creek Lane, a spacious 3-bedroom, 2-bath condo in a retreat-style community. Hardwood laminates allow for easy living in the living areas and carpet in the bedrooms. Recent updates include primary suite and guest bath improvements in 2021 with painted cabinets, new tub, and tile, kitchen cabinets painted in 2026, dishwasher (2025), refrigerator (2021), and a roof replaced 2024. The home features large walk-in closets, washer/dryer hookups, a covered porch and a fireplace that the association services each year. Two exterior storage closets for those miscellaneous items or holiday decor. Community amenities include a clubhouse, 24-hour fitness center, lighted tennis court, and pool. Conveniently located within a short distance to Simmons Middle School and Gwin Elementary, and just minutes from shopping, the library, restaurants, and more. Hurry before this one is gone!

16. 2026-04-09
    listed $174,900 Active 903-char remark

    Show marketing remark (903 chars)

    Welcome to 1007 Patton Creek Lane, a spacious 3-bedroom, 2-bath condo in a retreat-style community. Hardwood laminates allow for easy living in the living areas and carpet in the bedrooms. Recent updates include primary suite and guest bath improvements in 2021 with painted cabinets, new tub, and tile, kitchen cabinets painted in 2026, dishwasher (2025), refrigerator (2021), and a roof replaced 2024. The home features large walk-in closets, washer/dryer hookups, a covered porch and a fireplace that the association services each year. Two exterior storage closets for those miscellaneous items or holiday decor. Community amenities include a clubhouse, 24-hour fitness center, lighted tennis court, and pool. Conveniently located within a short distance to Simmons Middle School and Gwin Elementary, and just minutes from shopping, the library, restaurants, and more. Hurry before this one is gone!

17. 2026-04-03
    historical $174,900 903-char remark

    Show marketing remark (903 chars)

    Welcome to 1007 Patton Creek Lane, a spacious 3-bedroom, 2-bath condo in a retreat-style community. Hardwood laminates allow for easy living in the living areas and carpet in the bedrooms. Recent updates include primary suite and guest bath improvements in 2021 with painted cabinets, new tub, and tile, kitchen cabinets painted in 2026, dishwasher (2025), refrigerator (2021), and a roof replaced 2024. The home features large walk-in closets, washer/dryer hookups, a covered porch and a fireplace that the association services each year. Two exterior storage closets for those miscellaneous items or holiday decor. Community amenities include a clubhouse, 24-hour fitness center, lighted tennis court, and pool. Conveniently located within a short distance to Simmons Middle School and Gwin Elementary, and just minutes from shopping, the library, restaurants, and more. Hurry before this one is gone!

18. 2021-08-27
    soldstatus $145,000 Sold 439-char remark

    Show marketing remark (439 chars)

    Come see this spacious 3 bedroom, 2 bathroom condo a retreat-style community. Neighborhood features a clubhouse for entertaining, 24-hour fitness center, lighted tennis court, and a pool. Condo includes washer/dryer hookup, large walk-in closets and a cozy fireplace. The convenience of this home can't be beat! Walking distance to Simmons Middle School and Gwin Elementary School. Minutes from shopping, library, schools, and restaurants.

19. 2021-07-29
    historical 439-char remark

    Show marketing remark (439 chars)

    Come see this spacious 3 bedroom, 2 bathroom condo a retreat-style community. Neighborhood features a clubhouse for entertaining, 24-hour fitness center, lighted tennis court, and a pool. Condo includes washer/dryer hookup, large walk-in closets and a cozy fireplace. The convenience of this home can't be beat! Walking distance to Simmons Middle School and Gwin Elementary School. Minutes from shopping, library, schools, and restaurants.

20. 2021-07-25
    status Active 439-char remark

    Show marketing remark (439 chars)

    Come see this spacious 3 bedroom, 2 bathroom condo a retreat-style community. Neighborhood features a clubhouse for entertaining, 24-hour fitness center, lighted tennis court, and a pool. Condo includes washer/dryer hookup, large walk-in closets and a cozy fireplace. The convenience of this home can't be beat! Walking distance to Simmons Middle School and Gwin Elementary School. Minutes from shopping, library, schools, and restaurants.

21. 2021-07-19
    historical Contingent 439-char remark

    Show marketing remark (439 chars)

    Come see this spacious 3 bedroom, 2 bathroom condo a retreat-style community. Neighborhood features a clubhouse for entertaining, 24-hour fitness center, lighted tennis court, and a pool. Condo includes washer/dryer hookup, large walk-in closets and a cozy fireplace. The convenience of this home can't be beat! Walking distance to Simmons Middle School and Gwin Elementary School. Minutes from shopping, library, schools, and restaurants.

22. 2021-07-14
    listed $124,900 Active 439-char remark

    Show marketing remark (439 chars)

    Come see this spacious 3 bedroom, 2 bathroom condo a retreat-style community. Neighborhood features a clubhouse for entertaining, 24-hour fitness center, lighted tennis court, and a pool. Condo includes washer/dryer hookup, large walk-in closets and a cozy fireplace. The convenience of this home can't be beat! Walking distance to Simmons Middle School and Gwin Elementary School. Minutes from shopping, library, schools, and restaurants.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,025
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$2,082
• − Management: −$2,082
• − HOA: −$3,720
• − Depreciation: −$4,943
• Taxable income: $283
• Est. tax owed @ 24.0%: −$68
• After-tax cash flow: $2,682/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bath condo requires moderate repairs and updates to improve its condition and value. Fresh paint and updated fixtures would significantly enhance its appeal.

Repairs flagged

• Moderate Kitchen cabinets — Appears dated and in need of updating
• Minor Bathroom fixtures — Slight discoloration and wear
• Moderate Exterior siding — Weathered and in need of repainting

Value-add opportunities

• Both Paint interior walls and exterior siding — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace dated kitchen cabinets — Modern cabinets improve functionality and aesthetics
• Both Replace dated bathroom fixtures — Updated fixtures enhance functionality and aesthetics
• Both Landscaping and curb appeal improvements — Fresh landscaping enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Appears dated and in need of updating	Moderate	$3,000–15,000
Bathroom fixtures · Slight discoloration and wear	Minor	$500–3,000
Exterior siding · Weathered and in need of repainting	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both Paint interior walls and exterior siding — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace dated kitchen cabinets — Modern cabinets improve functionality and aesthetics ↑
• Both Replace dated bathroom fixtures — Updated fixtures enhance functionality and aesthetics ↑
• Both Landscaping and curb appeal improvements — Fresh landscaping enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 38,588
• Household income: $124,516
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 539.0

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 White (73%)
• Race & ethnicity: White 73% Black 13% Asian 8% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Italian 6% Slovak 3% Serbian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 2% Other Indo-European 2% Chinese 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: ▼ -200.60%
• Current HPI: 214.5202
• Rent YoY: ▲ 3.70%
• 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

+36.0% since first listed

8 events — show timeline

• 2026-04-25 Price Changed $169,900 Greater Alabama MLS
• 2026-04-09 Listed $174,900 Greater Alabama MLS
• 2026-04-03 Coming Soon $174,900 Greater Alabama MLS
• 2021-08-27 Sold (MLS) $145,000 Greater Alabama MLS
• 2021-07-29 Delisted — Greater Alabama MLS
• 2021-07-25 Relisted — Greater Alabama MLS
• 2021-07-19 Contingent — Greater Alabama MLS
• 2021-07-14 Listed $124,900 Greater Alabama MLS