3816 39th Ave N · Birmingham, AL 35217

$25,000

4 bd · 1.0 ba · 3,054 sqft · SingleFamily public records · 10 Days on market

Built 1930 6,534 sqft lot $8/sqft · 79% below area ↓ 4% 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
• Rent growth +3.4/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks

CALLING ALL INVESTORS: LARGE HOME IN NEED OF GUTTING AND REHAB. PRICED TO SELL. MAKE YOUR APPOINTMENT TODAY. SOLD AS-IS.

Key facts

• 6,534 sq ft lot
• Built 1930
• Listed 10 days

Property features AI

Exterior

• Parking: Driveway parking
• Utilities: Public water; Sewer connected; Internet service available
• Home design: Existing property; Basement entry (daylight basement); Both finished and unfinished basement areas
• Construction: Wood siding; Basement foundation
• Exterior features: No pool, patio, decks, or garden/patio; Not waterfront; Lot has no special view; Flood plain: no

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Multiple bedrooms on main level and at least one bedroom on upper level
• Flooring: Hardwood
• Bathrooms: One full bathroom; Tub/shower combo
• Heating & cooling: No heating; No air conditioning
• Interior features: Handyman special; Hardwood floors; Ceilings: other (see remarks)
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry located in basement (other — see remarks)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 54.6% 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-, crime F, employment 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.
• Zoned schools: Inglenook School (math 2% / reading 8%, grade F, #618 of 627 statewide, top 100%, 333 students, 91% FRL); George Washington Carver High School (math 2% / reading 17%, grade F, #252 of 305 statewide, top 84%, 531 students, 87% FRL).
• Market conditions: Rents rising (+3.6%/yr); 94 active listings in the ZIP; 2 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 45% of the median local income ($40k/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 $173 of loan paydown is wiped out by about $750 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 + 3.6% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $25,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 6.01% ✓
• Cap rate: 54.65%
• Cash-on-cash: 172.70%
• DSCR: 8.68
• GRM: 1.4

CMA / ARV

• ARV (median comp): $98,921
• List price: $25,000
• Delta: -74.73%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Jefferson Blvd	0.72mi	3/2.0 (-1)	3,312 (+8%)	16mo	$11,000	$3	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 · 3.58% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.72×
• Total profit: $61,020
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 20.93×
• Total profit: $139,522
• Equity at exit: $2,162

Cash invested: $7,000 (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 35217

• Rents YoY: 3.6%
• Active inventory: 94
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,502 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$38 /mo · $451/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $1,007

Break-even live

Break-even rent $227

Max offer price $25,000

Occupancy floor 28%

Sensitivity live

Price	-10% $1,022	-5% $1,014	+0% $1,007	+5% $1,000	+10% $993
Rent	-10% $889	-5% $948	+0% $1,007	+5% $1,067	+10% $1,126
Rate	-1.0pp $1,020	-0.5pp $1,014	base $1,007	+0.5pp $1,001	+1.0pp $994

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4029 44th Ave N Unit 1 Birmingham, AL	4.0	2.0	2768	$1,300	$0.47	45d	1	0.45mi
4221 50th Ave N Birmingham, AL	4.0	2.0	2984	$1,200	$0.40	12d	1	0.96mi

Listing history 2 events

1. 2026-05-17
   status Pending 121-char remark
2. 2026-05-07
   listed $25,000 Active 121-char remark

ⓘ 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: $451 · $38/mo
• Projected year-2 tax: $451 · $38/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 2/10 Low
• 🌡 Heat 6/10 Major 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 5/10 Major 9 unhealthy d/yr today · 10 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,023
• − Mortgage interest: −$1,400
• − Property taxes: −$451
• − Insurance: −$125
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$727
• Taxable income: $12,436
• Est. tax owed @ 24.0%: −$2,985
• After-tax cash flow: $9,104/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): 12,240
• Household income: $40,486
• Rent vs Own: 52.5% rent · 47.5% own
• Severe rent burden: 594.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 57% White 27% Hispanic / Latino 14% Two or more races 6%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 3% Italian 1%
• Foreign-born: 7% · Canada, Guatemala
• Languages at home: 86% English-only · Spanish 13%

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: ▼ -74.54%
• Current HPI: 117.416
• Rent YoY: ▲ 3.58%
• 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

-4.0% since first listed

3 events — show timeline

• 2026-05-22 Sold (MLS) $24,000 Greater Alabama MLS
• 2026-05-17 Pending — Greater Alabama MLS
• 2026-05-07 Listed $25,000 Greater Alabama MLS

Property tax history

+2.5%/yr

Latest (2025): $451 · +0.0% YoY. Source: county tax records.