4729 Court · Birmingham, AL 35208

$46,000

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 136 Days on market

Built 1925 6,969 sqft lot $40/sqft · 30% below area Est $66k · 30% 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 +4.3/5.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This three bedroom and one bath home is located in the Central Park Subdivision. Detached one-car garage. It is in need of investor TLC i. e. repair and updating. Sold in an as is condition. Homes that have been rehabbed and flipped within the Central Park subdivision have pushed market values exponentially higher of late. Located within five minutes of Ensley Five Points.

Key facts

• 6,969 sq ft lot
• Garage
• Built 1925

Tags

• DETACHED ONE-CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $46k.

Deal economics

• At list price, monthly cash flow is $584 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $46k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.5% 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 fast (+7.2%/yr); 122 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 ($39k/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 $318 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 + 7.2% 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 136 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $40,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1925 — 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. 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?
7. 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.
8. 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.
9. 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: 2.51% ✓
• Cap rate: 21.54%
• Cash-on-cash: 54.45%
• DSCR: 3.42
• GRM: 3.3

CMA / ARV

• ARV (median comp): $65,590
• List price: $46,000
• Delta: -29.87%
• 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
4732 Terrace	0.04mi	3/1.0	1,125 (-2%)	0mo	$29,500	$26	95
4829 Avenue	0.14mi	3/1.0	1,247 (+9%)	5mo	$50,000	$40	75
4728 Terrace	0.04mi	3/2.0	1,276 (+11%)	4mo	$29,900	$23	72
1836 Bessemer Rd	0.29mi	3/1.0	1,258 (+10%)	4mo	$55,000	$44	67
1604 44th St	0.50mi	2/1.0 (-1)	1,100 (-4%)	6mo	$53,000	$48	60
1113 51st St	0.48mi	3/2.0	1,231 (+7%)	3mo	$204,900	$166	59
1515 35th St	0.66mi	3/1.5	1,205 (+5%)	1mo	$80,000	$66	58
3300 Avenue Q	0.59mi	2/1.0 (-1)	1,227 (+7%)	0mo	$35,000	$29	56
2526 SW Lee Ave	0.66mi	3/1.5	1,095 (-5%)	6mo	$18,000	$16	55
1508 W 51st St	0.69mi	3/1.5	1,264 (+10%)	2mo	$30,000	$24	47
1601 48th St	0.51mi	3/1.0	1,313 (+14%)	7mo	$84,900	$65	47
1523 44th St E	0.57mi	3/2.0	1,307 (+14%)	5mo	$133,000	$102	42

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 · 7.24% rent growth · sell at horizon

5-year hold

• IRR: 57.5%
• Equity multiple: 3.71×
• Total profit: $34,923
• Equity at exit: $6,859

10-year hold

• IRR: 63.9%
• Equity multiple: 8.87×
• Total profit: $101,417
• Equity at exit: $3,977

Cash invested: $12,880 (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 35208

• Home prices YoY: -18.1%
• Rents YoY: 7.2%
• Active inventory: 122
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$241
• Tax from tax record: −$66 /mo · $798/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $584

Break-even live

Break-even rent $414

Max offer price $46,000

Occupancy floor 44%

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: $11,500
• Closing costs: $1,380
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4732 Court S Birmingham, AL	3.0	1.0	1372	$1,100	$0.80	44d	1	0.05mi
4736 Court S Birmingham, AL	3.0	1.5	1300	$1,200	$0.92	3d	1	0.06mi
4637 Court S Birmingham, AL	3.0	1.0	1225	$975	$0.80	2d	1	0.09mi
4813 Court S Birmingham, AL	3.0	2.0	1118	$1,125	$1.01	44d	1	0.11mi
4801 Avenue S Birmingham, AL	3.0	1.0	1310	$1,000	$0.76	44d	1	0.11mi
4825 Avenue S Birmingham, AL	3.0	1.0	1310	$1,050	$0.80	16d	1	0.16mi
2017 48th Street Ensley Birmingham, AL	3.0	2.0	1383	$1,250	$0.90	44d	1	0.18mi
2133 47th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1308	$1,300	$0.99	44d	1	0.25mi
4724 Court R Birmingham, AL	2.0	1.0	1016	$895	$0.88	15d	1	0.26mi
2520 Avenue U Unit A Birmingham, AL	4.0	1.0	1260	$1,200	$0.95	44d	1	0.34mi
1757 48th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1164	$1,295	$1.11	3d	1	0.37mi
4619 Terrace Q Birmingham, AL	3.0	2.0	1198	$900	$0.75	44d	1	0.38mi
4929 Avenue R Unit R Birmingham, AL	2.0	1.0	962	$950	$0.99	44d	1	0.40mi
3221 Avenue S Birmingham, AL	3.0	2.0	1190	$1,250	$1.05	24d	1	0.45mi
1617 42nd Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1413	$1,030	$0.73	16d	1	0.46mi
1607 43rd Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1435	$1,150	$0.80	24d	1	0.47mi
1820 33rd St W Birmingham, AL	4.0	1.5	1212	$1,495	$1.23	44d	1	0.48mi
1604 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1100	$1,200	$1.09	24d	1	0.49mi
3009 Prince Ave Birmingham, AL	3.0	2.0	1176	$1,095	$0.93	24d	1	0.51mi
208 22nd St SW Birmingham, AL	2.0	1.0	926	$1,050	$1.13	3d	1	0.51mi
1933 Saint Charles Ct SW Birmingham, AL	3.0	1.0	1106	$1,050	$0.95	24d	1	0.52mi
1781 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1069	$950	$0.89	44d	1	0.53mi
1540 42nd Street Ensley Unit ENSLEY Birmingham, AL	2.0	1.0	899	$1,037	$1.15	44d	1	0.54mi
1606 49th Street Ensley Unit ENSLEY Birmingham, AL	3.0	2.0	1136	$1,100	$0.97	44d	1	0.54mi
2519 Saint Charles Ave SW Birmingham, AL	2.0	1.0	990	$975	$0.98	44d	1	0.56mi
2028 Lee Ter SW Birmingham, AL	2.0	1.0	884	$695	$0.79	44d	1	0.58mi
312 25th St SW Birmingham, AL	4.0	1.0	1159	$1,000	$0.86	24d	1	0.59mi
1556 Burgin Ave Birmingham, AL	3.0	1.0	1168	$1,100	$0.94	21d	1	0.59mi
1556 Burgin Ave Birmingham, AL	4.0	1.0	1168	$1,100	$0.94	19d	1	0.59mi
1520 41st Street Ensley Birmingham, AL	3.0	2.0	1068	$1,195	$1.12	44d	1	0.60mi
1509 44th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.5	1260	$1,123	$0.89	12d	1	0.60mi
1515 45th Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1440	$875	$0.61	3d	1	0.61mi
2026 Lee Ct SW Birmingham, AL	3.0	1.0	1204	$1,100	$0.91	44d	1	0.61mi
2216 Lee Ave SW Birmingham, AL	3.0	1.0	902	$900	$1.00	24d	1	0.61mi
5211 Ter Q Unit Q Birmingham, AL	2.0	1.0	756	$775	$1.03	44d	1	0.62mi
1632 51st St W Birmingham, AL	3.0	1.0	1337	$1,000	$0.75	2d	1	0.63mi
1632 51st Street Ensley Unit ENSLEY Birmingham, AL	3.0	1.0	1337	$1,100	$0.82	44d	1	0.63mi
1436 44th Street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1435	$1,495	$1.04	2d	1	0.65mi
5219 Court Q Birmingham, AL	3.0	2.0	1082	$1,200	$1.11	19d	1	0.65mi
1528 34th Street Ensley Birmingham, AL	3.0	2.0	972	$1,073	$1.10	44d	1	0.66mi

Listing history 20 events

1. 2026-06-18
   days on market $46,000 Active 136 DOM
2. 2026-06-17
   days on market $46,000 Active 135 DOM
3. 2026-06-16
   days on market $46,000 Active 134 DOM
4. 2026-06-15
   days on market $46,000 Active 133 DOM
5. 2026-06-13
   days on market $46,000 Active 131 DOM
6. 2026-06-10
   days on market $46,000 Active 128 DOM
7. 2026-06-09
   days on market $46,000 Active 127 DOM
8. 2026-06-08
   days on market $46,000 Active 126 DOM
9. 2026-06-07
   days on market $46,000 Active 125 DOM
10. 2026-06-03
    days on market $46,000 Active 121 DOM
11. 2026-06-02
    days on market $46,000 Active 120 DOM
12. 2026-06-01
    days on market $46,000 Active 119 DOM
13. 2026-05-31
    days on market $46,000 Active 118 DOM
14. 2026-03-07
    price $46,000 375-char remark

    Show marketing remark (375 chars)

    This three bedroom and one bath home is located in the Central Park Subdivision. Detached one-car garage. It is in need of investor TLC i. e. repair and updating. Sold in an as is condition. Homes that have been rehabbed and flipped within the Central Park subdivision have pushed market values exponentially higher of late. Located within five minutes of Ensley Five Points.

15. 2026-02-02
    listed $46,900 Active 375-char remark

    Show marketing remark (375 chars)

    This three bedroom and one bath home is located in the Central Park Subdivision. Detached one-car garage. It is in need of investor TLC i. e. repair and updating. Sold in an as is condition. Homes that have been rehabbed and flipped within the Central Park subdivision have pushed market values exponentially higher of late. Located within five minutes of Ensley Five Points.

16. 2012-08-16
    soldstatus $40,000
17. 2011-06-17
    soldstatus $40,000
18. 2001-07-03
    soldstatus $57,500
19. 1998-06-10
    soldstatus $17,000
20. 1984-05-01
    soldstatus $17,500

ⓘ 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: $798 · $66/mo
• Projected year-2 tax: $798 · $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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 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 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,842
• − Mortgage interest: −$2,577
• − Property taxes: −$798
• − Insurance: −$230
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$1,338
• Taxable income: $6,685
• Est. tax owed @ 24.0%: −$1,604
• After-tax cash flow: $5,409/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): 13,412
• Household income: $38,561
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 573.0

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: Predominantly Black (94%)
• Race & ethnicity: Black 94% White 4% Hispanic / Latino 2% Two or more races 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -33.99%
• Current HPI: 153.414
• Rent YoY: ▲ 7.24%
• 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

+162.9% since first listed

7 events — show timeline

• 2026-03-07 Price Changed $46,000 Greater Alabama MLS
• 2026-02-02 Listed $46,900 Greater Alabama MLS
• 2012-08-16 Sold (Public Records) $40,000 Public Records
• 2011-06-17 Sold (Public Records) $40,000 Public Records
• 2001-07-03 Sold (Public Records) $57,500 Public Records
• 1998-06-10 Sold (Public Records) $17,000 Public Records
• 1984-05-01 Sold (Public Records) $17,500 Public Records

Property tax history

-0.3%/yr

Latest (2025): $798 · +0.0% YoY. Source: county tax records.