4037 43rd Ave N · Birmingham, AL 35217

$47,000

3 bd · 1.0 ba · 1,703 sqft · SingleFamily public records · 173 Days on market

Built 1920 7,405 sqft lot $28/sqft · 39% below area Est $77k · 39% 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

Great investment potential in the desirable Inglenook neighborhood of Birmingham. This 3-bedroom, 1-bath home is vacant and ready for renovation, making it an ideal project for investors or rehabbers looking to add value. Once completed, the basement area presents an excellent opportunity for a rental unit, in-law suite, or extra living space to increase cash flow. Located in an established neighborhood with convenient access to downtown Birmingham, major highways, schools and shopping.

Key facts

• In-law suite
• Extra living space
• Ready for renovation

Tags

• INVESTMENT POTENTIAL
• READY FOR RENOVATION
• BASEMENT AREA
• RENTAL UNIT OPPORTUNITY
• IN-LAW SUITE
• EXTRA LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $41k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.4% 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); 94 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 35% 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 $325 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $6k; list at $47k implies a 755% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; 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 $41,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 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 1920 — 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: 2.48% ✓
• Cap rate: 20.43%
• Cash-on-cash: 50.47%
• DSCR: 3.25
• GRM: 3.4

CMA / ARV

• ARV (median comp): $76,715
• List price: $47,000
• Delta: -38.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4409 41st Pl N	0.14mi	4/2.0 (+1)	1,793 (+5%)	2mo	$150,000	$84	74
4100 41st Ave N	0.09mi	3/2.0	1,504 (-12%)	8mo	$55,000	$37	66
636 Jefferson Blvd	0.48mi	3/1.0	1,505 (-12%)	0mo	$65,000	$43	58
3920 39th Ave N	0.32mi	3/1.5	1,502 (-12%)	9mo	$53,000	$35	56
3837 41st Ave N	0.27mi	3/1.0	1,554 (-9%)	23mo	$30,000	$19	53
4101 49th Ter N	0.52mi	3/1.0	1,547 (-9%)	14mo	$67,000	$43	49
4341 44th Ave	0.35mi	3/1.0	1,548 (-9%)	24mo	$70,000	$45	48
717 Jackson Blvd	0.67mi	4/1.0 (+1)	1,604 (-6%)	8mo	$65,000	$41	47
833 Jackson Blvd	0.73mi	3/2.0	1,944 (+14%)	1mo	$114,429	$59	37
4212 50th Ave N	0.60mi	3/2.0	1,517 (-11%)	15mo	$101,000	$67	37
4117 50th Ave N	0.58mi	3/1.0	1,492 (-12%)	18mo	$74,500	$50	37
1233 Fulton Ave	0.71mi	3/1.0	1,530 (-10%)	24mo	$21,500	$14	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: 49.0%
• Equity multiple: 3.16×
• Total profit: $28,368
• Equity at exit: $7,008

10-year hold

• IRR: 54.8%
• Equity multiple: 6.56×
• Total profit: $73,125
• Equity at exit: $4,064

Cash invested: $13,160 (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: 3.4×

Monthly cashflow live

• Estimated rent: $1,168 high
• Mortgage (P&I): −$246
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $554

Break-even live

Break-even rent $467

Max offer price $47,000

Occupancy floor 48%

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: $11,750
• Closing costs: $1,410
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	43d	1	0.17mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	3d	1	0.19mi
4418 43rd St N Birmingham, AL	3.0	1.0	1710	$925	$0.54	23d	1	0.29mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	23d	1	0.29mi
3823 43rd Ave N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	0.29mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	19d	1	0.32mi
4301 Greenwood St Birmingham, AL	3.0	1.0	1140	$1,025	$0.90	2d	1	0.34mi
4329 Pulaski St Birmingham, AL	3.0	2.0	1240	$1,353	$1.09	23d	1	0.41mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	43d	1	0.41mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	14d	1	0.41mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	3d	1	0.42mi
4329 Harmon St Birmingham, AL	3.0	1.0	1227	$950	$0.77	43d	1	0.42mi
4344 Pulaski St Birmingham, AL	3.0	1.0	1268	$1,050	$0.83	43d	1	0.44mi
619 Bell Ave Birmingham, AL	3.0	1.0	1550	$1,075	$0.69	43d	1	0.54mi
1303 Main St Birmingham, AL	4.0	2.0	1432	$1,300	$0.91	43d	1	0.55mi
4208 50th Ave N Birmingham, AL	3.0	1.0	1104	$1,200	$1.09	43d	1	0.61mi
4212 50th Ave N Birmingham, AL	4.0	2.0	1517	$1,595	$1.05	1d	1	0.61mi
4925 43rd Way N Birmingham, AL	3.0	2.0	1232	$1,461	$1.19	1d	1	0.63mi
5015 42nd Pl N Birmingham, AL	3.0	2.0	1500	$1,200	$0.80	43d	1	0.65mi
732 Fulton Ave Birmingham, AL	4.0	2.0	1320	$1,450	$1.10	43d	1	0.67mi
1043 Jackson Blvd Birmingham, AL	4.0	2.0	1300	$1,095	$0.84	14d	1	0.89mi
1237 Elm Ave Birmingham, AL	2.0	1.5	1312	$1,150	$0.88	43d	1	0.90mi
1236 Elm Ave Birmingham, AL	3.0	1.0	1888	$950	$0.50	43d	1	0.91mi
1076 Green St Birmingham, AL	3.0	1.0	1172	$1,050	$0.90	15d	1	0.99mi
1249 Waverly St Birmingham, AL	3.0	1.0	1260	$1,000	$0.79	43d	1	1.04mi
1434 Thomason Ave Birmingham, AL	4.0	2.0	1644	$1,100	$0.67	43d	1	1.07mi
1108 Hall St Birmingham, AL	2.0	1.0	1680	$850	$0.51	43d	1	1.08mi
1401 Wharton Ave Birmingham, AL	2.0	1.0	1104	$950	$0.86	19d	1	1.17mi
1224 Sloan Ave Birmingham, AL	3.0	2.0	2164	$1,200	$0.55	3d	1	1.17mi
1731 Mountain Dr Birmingham, AL	3.0	1.0	1160	$975	$0.84	43d	1	1.34mi
1601 48th St N Birmingham, AL	3.0	1.0	1313	$1,200	$0.91	23d	1	1.36mi
1304 46th St N Birmingham, AL	3.0	1.0	1683	$670	$0.40	15d	1	1.38mi
1225 Elizabeth Ave Birmingham, AL	3.0	1.5	1697	$1,100	$0.65	19d	1	1.41mi
1101 47th St N Birmingham, AL	3.0	2.0	1296	$1,200	$0.93	23d	1	1.49mi
1816 Damon Cir Birmingham, AL	3.0	1.0	1401	$1,153	$0.82	15d	1	1.49mi
2807 34th St N Birmingham, AL	4.0	2.0	1556	$1,100	$0.71	43d	1	1.50mi

Listing history 20 events

1. 2026-06-18
   days on market $47,000 Active 173 DOM
2. 2026-06-17
   days on market $47,000 Active 172 DOM
3. 2026-06-16
   days on market $47,000 Active 171 DOM
4. 2026-06-15
   days on market $47,000 Active 170 DOM
5. 2026-06-13
   days on market $47,000 Active 168 DOM
6. 2026-06-10
   days on market $47,000 Active 165 DOM
7. 2026-06-09
   days on market $47,000 Active 164 DOM
8. 2026-06-08
   days on market $47,000 Active 163 DOM
9. 2026-06-07
   days on market $47,000 Active 162 DOM
10. 2026-06-03
    days on market $47,000 Active 158 DOM
11. 2026-06-02
    days on market $47,000 Active 157 DOM
12. 2026-06-01
    days on market $47,000 Active 156 DOM
13. 2026-05-31
    days on market $47,000 Active 155 DOM
14. 2026-05-14
    price $47,000 491-char remark

    Show marketing remark (491 chars)

    Great investment potential in the desirable Inglenook neighborhood of Birmingham. This 3-bedroom, 1-bath home is vacant and ready for renovation, making it an ideal project for investors or rehabbers looking to add value. Once completed, the basement area presents an excellent opportunity for a rental unit, in-law suite, or extra living space to increase cash flow. Located in an established neighborhood with convenient access to downtown Birmingham, major highways, schools and shopping.

15. 2025-12-28
    price $49,000 491-char remark

    Show marketing remark (491 chars)

    Great investment potential in the desirable Inglenook neighborhood of Birmingham. This 3-bedroom, 1-bath home is vacant and ready for renovation, making it an ideal project for investors or rehabbers looking to add value. Once completed, the basement area presents an excellent opportunity for a rental unit, in-law suite, or extra living space to increase cash flow. Located in an established neighborhood with convenient access to downtown Birmingham, major highways, schools and shopping.

16. 2025-12-26
    listed $45,000 Active 491-char remark

    Show marketing remark (491 chars)

    Great investment potential in the desirable Inglenook neighborhood of Birmingham. This 3-bedroom, 1-bath home is vacant and ready for renovation, making it an ideal project for investors or rehabbers looking to add value. Once completed, the basement area presents an excellent opportunity for a rental unit, in-law suite, or extra living space to increase cash flow. Located in an established neighborhood with convenient access to downtown Birmingham, major highways, schools and shopping.

17. 2013-04-17
    soldstatus $5,500 138-char remark

    Show marketing remark (138 chars)

    Very spacious three bedroom, one bath home. Large floor plan, lots of potential. Convenient location convenient to interstate and Tarrant.

18. 2013-02-12
    listed $7,000 138-char remark

    Show marketing remark (138 chars)

    Very spacious three bedroom, one bath home. Large floor plan, lots of potential. Convenient location convenient to interstate and Tarrant.

19. 1993-02-22
    soldstatus $40,000
20. 1991-11-01
    soldstatus $39,900

ⓘ 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: $1,235 · $103/mo
• Projected year-2 tax: $1,235 · $103/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: $14,013
• − Mortgage interest: −$2,633
• − Property taxes: −$1,235
• − Insurance: −$235
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$1,367
• Taxable income: $6,301
• Est. tax owed @ 24.0%: −$1,512
• After-tax cash flow: $5,130/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

+17.8% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $47,000 Greater Alabama MLS
• 2025-12-28 Price Changed $49,000 Greater Alabama MLS
• 2025-12-26 Listed $45,000 Greater Alabama MLS
• 2013-04-17 Sold (MLS) $5,500 Greater Alabama MLS
• 2013-02-12 Listed $7,000 Greater Alabama MLS
• 1993-02-22 Sold (Public Records) $40,000 Public Records
• 1991-11-01 Sold (Public Records) $39,900 Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,235 · +0.0% YoY. Source: county tax records.