4741 40th Pl N · Birmingham, AL 35217

$69,000

3 bd · 2.0 ba · 1,814 sqft · SingleFamily public records · 195 Days on market

Built 1948 6,534 sqft lot $38/sqft · 25% below area Est $92k · 25% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

Key facts

• Brick exterior
• Spacious layout
• 6,534 sq ft lot

Tags

• SPACIOUS LAYOUT
• BRICK EXTERIOR
• INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $412 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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-, 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: Rents rising (+3.6%/yr); 95 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 36% 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 $477 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 + 3.6% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 195 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; built in 1948 — 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 $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 195 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
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: 1.74% ✓
• Cap rate: 13.46%
• Cash-on-cash: 25.61%
• DSCR: 2.14
• GRM: 4.8

CMA / ARV

• ARV (median comp): $91,910
• List price: $69,000
• Delta: -24.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4409 41st Pl N	0.33mi	4/2.0 (+1)	1,793 (-1%)	2mo	$150,000	$84	76
833 Jackson Blvd	0.31mi	3/2.0	1,944 (+7%)	1mo	$114,429	$59	72
4101 49th Ter N	0.10mi	3/1.0	1,547 (-15%)	14mo	$67,000	$43	55
717 Jackson Blvd	0.30mi	4/1.0 (+1)	1,604 (-12%)	8mo	$65,000	$41	51
1012 Birmingham St	0.73mi	3/2.0	1,572 (-13%)	3mo	$26,000	$17	42
1006 Overton Ave	0.47mi	4/2.0 (+1)	1,596 (-12%)	15mo	$95,000	$60	41
3837 41st Ave N	0.56mi	3/1.0	1,554 (-14%)	23mo	$30,000	$19	26
4341 44th Ave	0.55mi	3/1.0	1,548 (-15%)	24mo	$70,000	$45	26

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: 20.0%
• Equity multiple: 1.82×
• Total profit: $15,838
• Equity at exit: $10,288

10-year hold

• IRR: 28.7%
• Equity multiple: 3.63×
• Total profit: $50,747
• Equity at exit: $5,966

Cash invested: $19,320 (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: 95
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,199 high
• Mortgage (P&I): −$362
• Tax from tax record: −$144 /mo · $1,727/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $412

Break-even live

Break-even rent $677

Max offer price $69,000

Occupancy floor 61%

Sensitivity live

Price	-10% $451	-5% $432	+0% $412	+5% $393	+10% $373
Rent	-10% $318	-5% $365	+0% $412	+5% $460	+10% $507
Rate	-1.0pp $447	-0.5pp $430	base $412	+0.5pp $394	+1.0pp $376

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	5d	1	0.11mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	45d	1	0.11mi
4329 Pulaski St Birmingham, AL	3.0	2.0	1240	$1,353	$1.09	25d	1	0.16mi
4344 Pulaski St Birmingham, AL	3.0	1.0	1268	$1,050	$0.83	45d	1	0.21mi
619 Bell Ave Birmingham, AL	3.0	1.0	1550	$1,075	$0.69	45d	1	0.23mi
4212 50th Ave N Birmingham, AL	4.0	2.0	1517	$1,595	$1.05	3d	1	0.27mi
732 Fulton Ave Birmingham, AL	4.0	2.0	1320	$1,450	$1.10	45d	1	0.28mi
5015 42nd Pl N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	45d	1	0.32mi
4418 43rd St N Birmingham, AL	3.0	1.0	1710	$925	$0.54	25d	1	0.42mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	25d	1	0.43mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	45d	1	0.43mi
4925 43rd Way N Birmingham, AL	3.0	2.0	1232	$1,461	$1.19	3d	1	0.44mi
1303 Main St Birmingham, AL	4.0	2.0	1432	$1,300	$0.91	45d	1	0.47mi
1043 Jackson Blvd Birmingham, AL	4.0	2.0	1300	$1,095	$0.84	16d	1	0.48mi
1237 Elm Ave Birmingham, AL	2.0	1.5	1312	$1,150	$0.88	45d	1	0.52mi
1236 Elm Ave Birmingham, AL	3.0	1.0	1888	$950	$0.50	45d	1	0.52mi
1108 Hall St Birmingham, AL	2.0	1.0	1680	$850	$0.51	45d	1	0.66mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	20d	1	0.69mi
1249 Waverly St Birmingham, AL	3.0	1.0	1260	$1,000	$0.79	45d	1	0.73mi
1434 Thomason Ave Birmingham, AL	4.0	2.0	1644	$1,100	$0.67	45d	1	0.77mi
1224 Sloan Ave Birmingham, AL	3.0	2.0	2164	$1,200	$0.55	5d	1	0.81mi
1225 Elizabeth Ave Birmingham, AL	3.0	1.5	1697	$1,100	$0.65	20d	1	1.06mi
1816 Damon Cir Birmingham, AL	3.0	1.0	1401	$1,153	$0.82	17d	1	1.19mi

Listing history 7 events

1. 2026-05-04
   status Pending 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

2. 2026-04-27
   status Active 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

3. 2025-07-31
   historical 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

4. 2025-03-25
   historical Contingent 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

5. 2025-02-07
   status Active 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

6. 2025-01-30
   historical Contingent 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

7. 2025-01-23
   listed $69,000 Active 872-char remark

   Show marketing remark (872 chars)

   Handyman Special in Inglenook, Birmingham – Your Next Opportunity Awaits! Calling all investors, DIY enthusiasts, and visionaries! Nestled in the Inglenook neighborhood of Birmingham, this 3-bedroom, 1-bathroom home is ready for a TOTAL transformation. With solid bones and endless potential, this is your chance to turn a forgotten house into a memorable one. This property is a blank canvas waiting for you, whether you're dreaming of crafting the perfect home or a lucrative rental property. The spacious layout and brick exterior are a fantastic foundation for your project. Once restored, it could become a delightful starter home, a profitable rental, or even a charming resale property. Bring your toolbelt, imagination, and ambition to breathe new life into Inglenook home. Don't miss the chance to reap the rewards of this incredible investment opportunity!

ⓘ 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: $1,727 · $144/mo
• Projected year-2 tax: $1,727 · $144/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: $14,382
• − Mortgage interest: −$3,865
• − Property taxes: −$1,727
• − Insurance: −$345
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$2,007
• Taxable income: $4,137
• Est. tax owed @ 24.0%: −$993
• After-tax cash flow: $3,955/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

7 events — show timeline

• 2026-05-04 Pending — Greater Alabama MLS
• 2026-04-27 Relisted — Greater Alabama MLS
• 2025-07-31 Delisted — Greater Alabama MLS
• 2025-03-25 Contingent — Greater Alabama MLS
• 2025-02-07 Relisted — Greater Alabama MLS
• 2025-01-30 Contingent — Greater Alabama MLS
• 2025-01-23 Listed $69,000 Greater Alabama MLS

Property tax history

+5.7%/yr

Latest (2025): $1,727 · +0.0% YoY. Source: county tax records.