4821 Cove Ln · Gardendale, AL 35117

$224,900

3 bd · 1.0 ba · 1,364 sqft · SingleFamily public records · 135 Days on market

Built 2022 Good condition 6,316 sqft lot $165/sqft · 18% below area Est $274k · 18% under $5/mo HOA ↓ 4% since listing

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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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

Key facts

• Private backyard
• Large backyard
• Roomy garage

Tags

• UPDATED KITCHEN
• BACK DECK
• LARGE BACKYARD
• PRIVATE BACKYARD
• ROOMY GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (8.4% below list).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 5.5% in Gardendale — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 66/100 on livability (#113 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F, health & safety 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: 65 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 135 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $45k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 0.92% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.77%
• DSCR: 1.12
• GRM: 9.1

CMA / ARV

• ARV (median comp): $273,737
• List price: $224,900
• Delta: -17.84%
• 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
913 Wren Way	0.09mi	3/2.0	1,452 (+6%)	0mo	$264,500	$182	81
921 Wren Way	0.11mi	3/2.0	1,452 (+6%)	1mo	$264,300	$182	80
160 Springdale Dr	0.25mi	3/2.0	1,347 (-1%)	7mo	$244,500	$182	76
4821 Newfound Rd	0.15mi	2/2.0 (-1)	1,333 (-2%)	8mo	$229,000	$172	74
993 Wren Way	0.19mi	3/2.0	1,452 (+6%)	10mo	$255,000	$176	68
103 Springdale Dr	0.20mi	3/2.0	1,214 (-11%)	2mo	$252,500	$208	67
1486 Woodridge Pl	0.48mi	3/2.0	1,362 (-0%)	9mo	$335,000	$246	66
87 Springdale Dr	0.20mi	3/2.0	1,214 (-11%)	12mo	$240,000	$198	59
4293 Hathaway Ln	0.67mi	3/2.0	1,432 (+5%)	1mo	$259,900	$181	56
1421 Woodridge Pl	0.46mi	3/2.0	1,458 (+7%)	12mo	$324,900	$223	53
4274 Hathaway Ln	0.72mi	3/2.0	1,432 (+5%)	5mo	$255,000	$178	50
132 Springdale Dr	0.24mi	2/2.0 (-1)	1,172 (-14%)	8mo	$240,000	$205	49

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: -11.9%
• Equity multiple: 0.57×
• Total profit: $-27,189
• Equity at exit: $33,533

10-year hold

• IRR: -2.8%
• Equity multiple: 0.81×
• Total profit: $-11,795
• Equity at exit: $19,445

Cash invested: $62,972 (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 35117

• Home prices YoY: -19.9%
• Active inventory: 65
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,060 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$204 /mo · $2,448/yr
• Insurance: −$94
• HOA: −$5
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $146

Break-even live

Break-even rent $1,876

Max offer price $224,900

Occupancy floor 88%

Sensitivity live

Price	-10% $273	-5% $209	+0% $146	+5% $82	+10% $18
Rent	-10% $-17	-5% $64	+0% $146	+5% $227	+10% $308
Rate	-1.0pp $259	-0.5pp $203	base $146	+0.5pp $87	+1.0pp $28

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1397 Woodridge Pl Gardendale, AL	3.0	2.0	1384	$2,166	$1.57	44d	1	0.54mi
4497 Canterbury St Mount Olive, AL	3.0	2.0	1368	$1,890	$1.38	2d	1	0.55mi
1380 Woodridge Pl Gardendale, AL	3.0	2.0	1266	$1,846	$1.46	44d	1	0.59mi
205 Cottage Dr Gardendale, AL	1.0–3.0	1.0–2.5	1193	$2,472	$2.07	2d	64	0.80mi

HOA detail

• Monthly dues: $5 · $60/yr

Listing history 19 events

1. 2026-06-13
   status $224,900 Pending 135 DOM
2. 2026-06-10
   days on market $224,900 Active 135 DOM
3. 2026-06-09
   days on market $224,900 Active 134 DOM
4. 2026-06-08
   days on market $224,900 Active 133 DOM
5. 2026-06-07
   days on market $224,900 Active 132 DOM
6. 2026-06-03
   days on market $224,900 Active 128 DOM
7. 2026-06-02
   days on market $224,900 Active 127 DOM
8. 2026-06-01
   days on market $224,900 Active 126 DOM
9. 2026-05-31
   days on market $224,900 Active 125 DOM
10. 2026-05-08
    price $239,900 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

11. 2026-04-24
    price $249,900 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

12. 2026-04-10
    price $254,900 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

13. 2026-03-27
    price $259,900 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

14. 2026-02-13
    price $264,900 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

15. 2026-01-26
    listed $269,900 Active 548-char remark

    Show marketing remark (548 chars)

    This home sits on a quiet street in Mount Olive and gives you plenty of space inside and out. The main level has a bright living room, an updated kitchen with good cabinet space, and a dining area that opens to the back deck. All bedrooms are a comfortable size, and the primary suite has its own private bath. The backyard is large, private, and perfect for pets, kids, or weekend hangouts. You also get a roomy garage for storage or projects. Easy drive to Gardendale schools, shopping, and I-65. A solid, well-kept home ready for its next owner.

16. 2024-11-06
    historical $1,549
17. 2024-10-25
    price $1,549
18. 2024-10-11
    listed $1,550
19. 2022-04-08
    soldstatus $249,900

ⓘ 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: $2,448 · $204/mo
• Projected year-2 tax: $2,448 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,723
• − Mortgage interest: −$12,598
• − Property taxes: −$2,448
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,978
• − Management: −$1,978
• − HOA: −$60
• − Depreciation: −$6,543
• Taxable loss: −$2,005
• Est. tax savings @ 24.0%: +$481
• After-tax cash flow: $2,227/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained single-family home is ready for its next owner, with updates in the kitchen and bathrooms, and a good curb appeal.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Both replace carpet in bedrooms — improves comfort and appearance
• Resale install new kitchen backsplash — adds visual interest and durability

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Both replace carpet in bedrooms — improves comfort and appearance ↑
• Resale install new kitchen backsplash — adds visual interest and durability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Gardendale

• Score: 66/100
• State rank: #113
• US rank: #12225

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,288
• Population (ZIP): 5,091

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 White (84%)
• Race & ethnicity: White 84% Black 9% Hispanic / Latino 5% Two or more races 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Slovak 2% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 94% English-only · Spanish 5% Korean 1%

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: ▼ -51.36%
• Current HPI: 207.071
• 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

-4.0% since first listed

10 events — show timeline

• 2026-05-08 Price Changed $239,900 Greater Alabama MLS
• 2026-04-24 Price Changed $249,900 Greater Alabama MLS
• 2026-04-10 Price Changed $254,900 Greater Alabama MLS
• 2026-03-27 Price Changed $259,900 Greater Alabama MLS
• 2026-02-13 Price Changed $264,900 Greater Alabama MLS
• 2026-01-26 Listed $269,900 Greater Alabama MLS
• 2024-11-06 Rental Removed $1,549 RENT.
• 2024-10-25 Price Changed $1,549 RENT.
• 2024-10-11 Listed for Rent $1,550 RENT.
• 2022-04-08 Sold (Public Records) $249,900 Public Records

Property tax history

+91.1%/yr

Latest (2025): $2,448 · +0.6% YoY. Source: county tax records.