7417 Belgium Ave · Edgewater, AL 35224

$115,000

4 bd · 1.0 ba · 1,910 sqft · SingleFamily public records · 120 Days on market

Built 1930 9,583 sqft lot $60/sqft · 21% below area Est $146k · 21% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +5.9/10.0
• 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

Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment.

Key facts

• Roof 2020
• Large kitchens
• Storage garage

Tags

• ROOF 2020
• LARGE KITCHENS
• DEN
• LIVING ROOM
• FAMILY ROOM
• STORAGE GARAGE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $271 ($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: $105k (9.0% 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, schools 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.
• Market conditions: 42 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 120 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.09% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.09%
• DSCR: 1.45
• GRM: 7.7

CMA / ARV

• ARV (median comp): $146,331
• List price: $115,000
• Delta: -21.41%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7328 Denmark Ave	0.15mi	3/1.0 (-1)	1,736 (-9%)	14mo	$54,900	$32	61
7300 Denmark Ave	0.21mi	3/2.0 (-1)	1,709 (-10%)	23mo	$131,000	$77	44

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: -1.2%
• Equity multiple: 0.96×
• Total profit: $-1,417
• Equity at exit: $17,147

10-year hold

• IRR: 8.5%
• Equity multiple: 1.65×
• Total profit: $20,857
• 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: 7.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $271

Break-even live

Break-even rent $907

Max offer price $115,000

Occupancy floor 73%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7328 Denmark Ave Birmingham, AL	4.0	2.0	1736	$1,250	$0.72	43d	1	0.14mi
306 1st St Pleasant Grove, AL	3.0	2.0	2328	$1,250	$0.54	2d	1	1.40mi

Listing history 15 events

1. 2026-02-04
   price $115,000 263-char remark

   Show marketing remark (263 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment.

2. 2026-01-30
   listed $130,000 Active 263-char remark

   Show marketing remark (263 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment.

3. 2025-11-09
   historical $1,300
4. 2025-03-06
   listed $1,300
5. 2025-01-09
   soldstatus $115,000
6. 2022-06-01
   historical 288-char remark

   Show marketing remark (288 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

7. 2022-06-01
   soldstatus $54,500

   Show marketing remark (288 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

8. 2022-05-27
   soldstatus $54,500 Sold 288-char remark

   Show marketing remark (288 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

9. 2022-04-22
   historical Contingent 288-char remark

   Show marketing remark (288 chars)

   Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

10. 2022-04-14
    price $65,000 288-char remark

    Show marketing remark (288 chars)

    Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

11. 2022-02-21
    listed $80,000 Active 288-char remark

    Show marketing remark (288 chars)

    Investment opportunity or owner occupied home owner. Large 4 bedroom house. Roof 2020. Large kitchens and bedrooms. Den, living room and additional family room. Storage garage and building. This home comes with a 1 bedroom, den, kitchen and bath garage apartment. Owner says bring offers.

12. 2022-02-12
    price $80,000
13. 2022-01-19
    price $85,000
14. 2022-01-04
    price $91,000
15. 2021-12-02
    price $97,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $789 · $66/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: $15,000
• − Mortgage interest: −$6,442
• − Property taxes: −$789
• − Insurance: −$575
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,345
• Taxable income: $1,449
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $2,902/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

+18.6% since first listed

15 events — show timeline

• 2026-02-04 Price Changed $115,000 Greater Alabama MLS
• 2026-01-30 Listed $130,000 Greater Alabama MLS
• 2025-11-09 Rental Removed $1,300 BUILDIUM
• 2025-03-06 Listed for Rent $1,300 BUILDIUM
• 2025-01-09 Sold (Public Records) $115,000 Public Records
• 2022-06-01 Delisted — Greater Alabama MLS
• 2022-06-01 Sold (Public Records) $54,500 Public Records
• 2022-05-27 Sold (MLS) $54,500 Greater Alabama MLS
• 2022-04-22 Contingent — Greater Alabama MLS
• 2022-04-14 Price Changed $65,000 Greater Alabama MLS
• 2022-02-21 Listed $80,000 Greater Alabama MLS
• 2022-02-12 Price Changed $80,000 Greater Alabama MLS
• 2022-01-19 Price Changed $85,000 Greater Alabama MLS
• 2022-01-04 Price Changed $91,000 Greater Alabama MLS
• 2021-12-02 Price Changed $97,000 Greater Alabama MLS

Property tax history

+29.3%/yr

Latest (2025): $789 · +0.0% YoY. Source: county tax records.