805 Galveston St · Edgewater, AL 35224

$115,000

3 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 49 Days on market

Built 1915 0.29 ac lot $84/sqft · 15% below area Est $135k · 15% under

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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 +24.6/30.0
• ARV discount +14.2/15.0
• DSCR +7.9/10.0
• 1% rule +5.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful home in Birmingham with 4 big bedrooms and 1 bath. Has nice covered front porch!

Key facts

• Covered front porch
• Original hardwoods
• Tile in kitchen

Tags

• COVERED FRONT PORCH
• LARGE FLAT BACKYARD
• GRANITE COUNTER SPACE
• ORIGINAL HARDWOODS
• TILE IN KITCHEN
• TILE IN BATHROOM

Property features AI

Finance

• Other: Lot size about 0.29 acres; Located in a non-flood plain

Exterior

• Parking: Driveway parking; Off-street parking
• Utilities: Public water; Connected sewer; Electric water heater; Internet service availability unknown
• Home design: Existing home; Stone construction; Crawl space foundation; Located in the Edgewater subdivision
• Construction: Stone exterior; Crawl space foundation
• Exterior features: Porch; No pool; No patio, decks, or garden/patio listed; Property not waterfront

Interior

• Kitchen: Kitchen on main level
• Bedrooms: Four bedrooms, all on the main level
• Flooring: Hardwood flooring; Tile flooring; Vinyl flooring
• Bathrooms: One full bathroom with tub/shower combo
• Heating & cooling: Central heating; Central cooling
• Interior features: Solid surface kitchen countertops; Has attic; Ceilings: see remarks; No additional built-in interior features listed
• Laundry & utility: Main-level laundry with washer hookup and electric dryer hookup; Laundry space: other (see remarks)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#108 in AL) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+; Watch: housing D+, commute D, amenities F.
• Jefferson County (suburban): math 9% / reading 32% proficiency, ranked #104 of 129 in AL (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Minor Community School (math 2% / reading 17%, grade F, #568 of 627 statewide, top 94%, 409 students, 84% FRL); Minor High School (math 4% / reading 8%, grade F, #275 of 305 statewide, top 90%, 915 students, 84% FRL) — zoned schools average 84% FRL vs 49% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 8% at this address vs 20% district-wide (-13 pts) — the specific schools serving this property underperform the Jefferson County average; the district grade overstates school quality for this exact location.
• Market conditions: 42 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $795 of loan paydown is wiped out by about $3k 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 49 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y 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 $87k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• 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 $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.03% ✓
• Cap rate: 8.77%
• Cash-on-cash: 8.85%
• DSCR: 1.39
• GRM: 8.1

CMA / ARV

• ARV (median comp): $135,261
• List price: $115,000
• Delta: -14.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6720 Kiska Ave	0.19mi	3/2.0	1,260 (-8%)	0mo	$147,500	$117	73
6813 Java Ave	0.08mi	3/2.0	1,280 (-7%)	13mo	$160,000	$125	70
5712 Mexico Ave	0.74mi	3/1.0	1,372 (0%)	14mo	$95,000	$69	54
1113 Xavier St	0.52mi	3/2.0	1,460 (+6%)	14mo	$195,000	$134	50
1217 Xavier St	0.55mi	3/3.0	1,507 (+10%)	12mo	$220,000	$146	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,556
• Equity at exit: $17,147

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $16,203
• Equity at exit: $9,943

Cash invested: $32,200 (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 35224

• Home prices YoY: -16.2%
• Active inventory: 42
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,183 high
• Mortgage (P&I): −$603
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $237

Break-even live

Break-even rent $882

Max offer price $115,000

Occupancy floor 75%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 Yukon St Birmingham, AL	3.0	2.0	1038	$1,125	$1.08	43d	1	0.43mi
5804 Norway Ave Birmingham, AL	2.0	2.0	1564	$1,200	$0.77	23d	1	0.66mi
7328 Denmark Ave Birmingham, AL	4.0	2.0	1736	$1,250	$0.72	43d	1	0.89mi
960 Minor Dr Birmingham, AL	3.0	1.5	1299	$1,295	$1.00	23d	1	1.31mi
1050 McDonald Chapel Rd Birmingham, AL	3.0	1.5	1454	$1,250	$0.86	23d	1	1.36mi
5223 Loop Rd Birmingham, AL	3.0	1.0	1392	$1,100	$0.79	43d	1	1.40mi
229 Oregon St Birmingham, AL	3.0	1.0	1044	$1,200	$1.15	14d	1	1.42mi
229 Oregon St Birmingham, AL	3.0	1.0	1044	$1,200	$1.15	15d	1	1.42mi
3121 Monroe Ave Birmingham, AL	3.0	1.0	951	$995	$1.05	15d	1	1.47mi
304 Nevada St Birmingham, AL	3.0	1.0	1160	$1,200	$1.03	43d	1	1.48mi
4800 Norway Ave Birmingham, AL	3.0	1.0	1080	$1,200	$1.11	1d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $115,000 Active 49 DOM
2. 2026-06-17
   days on market $115,000 Active 48 DOM
3. 2026-06-16
   days on market $115,000 Active 47 DOM
4. 2026-06-15
   days on market $115,000 Active 46 DOM
5. 2026-06-13
   days on market $115,000 Active 44 DOM
6. 2026-06-10
   days on market $115,000 Active 41 DOM
7. 2026-06-09
   days on market $115,000 Active 40 DOM
8. 2026-06-08
   days on market $115,000 Active 39 DOM
9. 2026-06-07
   days on market $115,000 Active 38 DOM
10. 2026-06-03
    days on market $115,000 Active 34 DOM
11. 2026-06-02
    days on market $115,000 Active 33 DOM
12. 2026-06-01
    days on market $115,000 Active 32 DOM
13. 2026-05-31
    days on market $115,000 Active 31 DOM
14. 2026-04-29
    listed $115,000 Active 264-char remark
15. 2018-09-27
    soldstatus $87,100
16. 2018-09-20
    soldstatus $87,000 90-char remark

    Show marketing remark (90 chars)

    Beautiful home in Birmingham with 4 big bedrooms and 1 bath. Has nice covered front porch!

17. 2018-08-22
    listed $87,000 90-char remark

    Show marketing remark (90 chars)

    Beautiful home in Birmingham with 4 big bedrooms and 1 bath. Has nice covered front porch!

18. 2006-08-15
    soldstatus $69,900
19. 1990-07-24
    soldstatus $31,000
20. 1984-09-01
    soldstatus $31,000

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $551 · $46/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,192
• − Mortgage interest: −$6,442
• − Property taxes: −$551
• − Insurance: −$575
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$3,345
• Taxable income: $1,008
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $2,607/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: Jefferson County
• NCES district ID: 0101920
• Math proficiency: 9% ▼ -24.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $51,712
• Composite: 18.4/100
• National rank: #8937
• State rank: #104 of 129 in AL

Livability — Edgewater

• Score: 66/100
• State rank: #108
• US rank: #11927

Category grades

Amenities F Commute D Cost of living A+ Crime C Employment A+ Housing D+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edgewater, AL
• Population (ZIP): 5,409

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 (69%)
• Race & ethnicity: Black 69% White 22% Two or more races 5% Hispanic / Latino 3% Native American 1%
• Common ancestry: Slovak 0%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -24.47%
• Current HPI: 126.3423
• 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

+271.0% since first listed

7 events — show timeline

• 2026-04-29 Listed $115,000 Greater Alabama MLS
• 2018-09-27 Sold (Public Records) $87,100 Public Records
• 2018-09-20 Sold (MLS) $87,000 Greater Alabama MLS
• 2018-08-22 Listed $87,000 Greater Alabama MLS
• 2006-08-15 Sold (Public Records) $69,900 Public Records
• 1990-07-24 Sold (Public Records) $31,000 Public Records
• 1984-09-01 Sold (Public Records) $31,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $551 · +0.0% YoY. Source: county tax records.