4177 22nd St N · Birmingham, AL 35207

$110,000

3 bd · 1.0 ba · 1,218 sqft · SingleFamily public records · 16 Days on market

Built 1920 7,840 sqft lot

---

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 +20.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0

Listing remarks MLS

Great opportunity for a first-time homebuyer or investor! This updated home is move-in ready and offers comfort, convenience, and value. Currently tenant-occupied and generating rental income, making it an excellent investment property or future primary residence. Don't miss your chance to own this well-maintained home!

Key facts

• 7,840 sq ft lot
• Built 1920
• Listed 16 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $153 ($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 $107k (2.7% below list).
• Recommended offer: $107k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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: 42 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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

• In year one you build about $12k of equity ($761 loan paydown + $11k appreciation (10.0% local appreciation)).
• Jefferson County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $25k; list at $110k implies a 340% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $106,996 (2.7% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.97%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $71,862
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2270 Smithfield Ln N	0.69mi	3/2.0	1,226 (+1%)	4mo	$105,000	$86	59
2808 38th Ave N	0.59mi	3/2.0	1,176 (-3%)	11mo	$20,000	$17	54
4005 N 28th Pl	0.57mi	2/2.0 (-1)	1,227 (+1%)	24mo	$72,000	$59	44
2228 Belmore Ln	0.49mi	3/1.0	1,059 (-13%)	18mo	$122,500	$116	40
4025 28th Way	0.62mi	3/1.0	1,358 (+12%)	21mo	$24,900	$18	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 3.26×
• Total profit: $69,650
• Equity at exit: $99,097

10-year hold

• IRR: 24.9%
• Equity multiple: 7.41×
• Total profit: $197,375
• Equity at exit: $213,706

Cash invested: $30,800 (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 35207

• Home prices YoY: 18.7%
• Active inventory: 42
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$577
• Tax from tax record: −$69 /mo · $831/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $153

Break-even live

Break-even rent $876

Max offer price $110,000

Occupancy floor 81%

Sensitivity live

Price	-10% $216	-5% $184	+0% $153	+5% $122	+10% $91
Rent	-10% $69	-5% $111	+0% $153	+5% $196	+10% $238
Rate	-1.0pp $209	-0.5pp $181	base $153	+0.5pp $125	+1.0pp $96

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2015 36th Ave N Birmingham, AL	3.0	1.0	1468	$1,190	$0.81	24d	1	0.76mi
1709 36th Ave N Birmingham, AL	3.0	1.0	970	$1,350	$1.39	44d	1	0.91mi
1721 35th Ave N Birmingham, AL	2.0	1.0	1184	$875	$0.74	44d	1	0.96mi
2129 30th Ave N Birmingham, AL	3.0	1.0	1042	$1,000	$0.96	44d	1	1.12mi
3732 4th St W Birmingham, AL	4.0	1.0	1185	$900	$0.76	44d	1	1.14mi
3016 33rd Ct N Birmingham, AL	3.0	1.0	1012	$1,100	$1.09	44d	1	1.22mi
1625 29th Ave N Birmingham, AL	3.0	2.0	1140	$1,200	$1.05	16d	1	1.36mi
537 37th Ter W Birmingham, AL	3.0	1.0	1060	$1,000	$0.94	44d	1	1.37mi
3417 4th St W Birmingham, AL	3.0	2.0	1275	$1,000	$0.78	44d	1	1.46mi

Listing history 11 events

1. 2026-06-18
   days on market $110,000 Active 16 DOM
2. 2026-06-17
   days on market $110,000 Active 15 DOM
3. 2026-06-16
   days on market $110,000 Active 14 DOM
4. 2026-06-15
   days on market $110,000 Active 13 DOM
5. 2026-06-13
   days on market $110,000 Active 11 DOM
6. 2026-06-10
   days on market $110,000 Active 8 DOM
7. 2026-06-09
   days on market $110,000 Active 7 DOM
8. 2026-06-08
   days on market $110,000 Active 6 DOM
9. 2026-06-07
   days on market $110,000 Active 5 DOM
10. 2026-06-02
    remarks 321-char remark

    Show marketing remark (321 chars)

    Great opportunity for a first-time homebuyer or investor! This updated home is move-in ready and offers comfort, convenience, and value. Currently tenant-occupied and generating rental income, making it an excellent investment property or future primary residence. Don't miss your chance to own this well-maintained home!

11. 2026-06-02
    listed $110,000 Active 1 DOM

    Show marketing remark (321 chars)

    Great opportunity for a first-time homebuyer or investor! This updated home is move-in ready and offers comfort, convenience, and value. Currently tenant-occupied and generating rental income, making it an excellent investment property or future primary residence. Don't miss your chance to own this well-maintained home!

ⓘ 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: $831 · $69/mo
• Projected year-2 tax: $831 · $69/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 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: $12,840
• − Mortgage interest: −$6,162
• − Property taxes: −$831
• − Insurance: −$550
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$3,200
• Taxable income: $43
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $1,830/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
• City population: 210,422
• Population (ZIP): 6,824

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 (86%)
• Race & ethnicity: Black 86% White 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 1% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1%

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: ▲ 35.95%
• Current HPI: 228.5664
• Rent YoY: —
• Metro: —
• 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

+66.7% since first listed

7 events — show timeline

• 2026-06-02 Listed $110,000 Greater Alabama MLS
• 2021-03-17 Sold (MLS) $25,000 Greater Alabama MLS
• 2021-03-04 Pending — Greater Alabama MLS
• 2021-01-26 Price Changed $34,900 Greater Alabama MLS
• 2020-07-11 Price Changed $39,900 Greater Alabama MLS
• 2020-03-15 Listed $59,900 Greater Alabama MLS
• 2008-03-06 Sold (Public Records) $66,000 Public Records

Property tax history

+11.2%/yr

Latest (2025): $831 · +0.0% YoY. Source: county tax records.