2404 Falcon Pl · Hoover, AL 35216

$141,000

2 bd · 2.0 ba · 1,053 sqft · Condo public records · 37 Days on market

Built 1976

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +5.4/30.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPPORTUNITY awaits you on this beautiful renovated 2 br/2ba one level unit with unfinished 2 car garage . Huge storage space in basement to store your motorcycle , 4 wheelers etc or turn into your own personal flex space ( office or mancave ) New front door and storm door. New insulated garage doors w wireless remote . Spacious guest parking . Main level interior recently painted with addition of high end lighting. New hvac and furnace . Great room with new unique refaced f/pl and mantel with remote control gas logs . New French doors leading out to a private fenced backyard. This awesome great room adjoins a open dining room area just perfect for entertaining. Updated kitchen with white painted cabinetry /hardware and some new appliances . Breakfast bar . Beautiful new renovated guest bathroom . Walking distances from the community pool, clubhouse and tennis courts . The Windhover community is a very desirable convenient neighborhood.

Key facts

• Renovated townhouse
• Private patio
• Listed 37 days

Tags

• RENOVATED TOWNHOUSE
• PRIVATE PATIO
• HUGE UNFINISHED BASEMENT
• EASY ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $141k.

Deal economics

• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (3.4% below list).
• Recommended offer: $136k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 3.7% vs local median 2.4% in Hoover — 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 84/100 on livability (#1 in AL, #630 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+.
• 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: Rents rising (+2.6%/yr); 135 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 $975 of loan paydown is wiped out by about $4k 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 37 days — a 3% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $115k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• 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 $136,159 (3.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 3.69%
• Cash-on-cash: -9.30%
• DSCR: 0.59
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.59% rent growth · sell at horizon

5-year hold

• IRR: -33.3%
• Equity multiple: -0.08×
• Total profit: $-42,624
• Equity at exit: $21,024

10-year hold

• IRR: -42.5%
• Equity multiple: -0.61×
• Total profit: $-63,386
• Equity at exit: $12,191

Cash invested: $39,480 (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 35216

• Rents YoY: 2.6%
• Active inventory: 135
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,362 high
• Mortgage (P&I): −$739
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$59
• HOA est. from 2 same-building comps: −$480
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $-306

Break-even live

Break-even rent $1,749

Max offer price $86,949

Occupancy floor —

Sensitivity live

Price	-10% $-226	-5% $-266	+0% $-306	+5% $-346	+10% $-386
Rent	-10% $-414	-5% $-360	+0% $-306	+5% $-252	+10% $-198
Rate	-1.0pp $-235	-0.5pp $-270	base $-306	+0.5pp $-343	+1.0pp $-380

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: $35,250
• Closing costs: $4,230
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3741 Chestnut Ridge Ln Vestavia Hills, AL	1.0–3.0	1.0–2.0	1450	$1,232	$0.85	2d	61	0.56mi
3400 Chestnut Ridge Ln Birmingham, AL	2.0–3.0	2.0	1263	$1,389	$1.10	2d	8	0.60mi
3411 Cedar Crest Cir Hoover, AL	3.0	2.5	1336	$2,150	$1.61	2d	1	0.67mi
2149 Emerald Pointe Dr Birmingham, AL	1.0–3.0	1.0–1.5	885	$1,074	$1.21	24d	1	0.70mi
4248 Ashwood Cv Vestavia Hills, AL	3.0	2.5	1428	$1,850	$1.30	3d	1	0.75mi
1000 Autumn Wood Dr Birmingham, AL	1.0–2.0	1.0–2.0	880	$1,230	$1.40	3d	12	0.82mi
601 Wildbrook Ln Hoover, AL	1.0–3.0	1.0–2.0	1340	$1,200	$0.90	2d	4	0.82mi
6100 Rime Village Dr E Vestavia Hills, AL	1.0–2.0	1.5–2.0	1307	$1,446	$1.11	2d	10	0.91mi
2139 Rocky Ridge Ranch Rd Hoover, AL	1.0–3.0	1.0–2.0	1044	$1,249	$1.20	2d	4	0.99mi
990 Wisteria Pl Birmingham, AL	3.0	2.0	1450	$1,620	$1.12	2d	3	1.10mi
3627 Cedarbrook Dr Hoover, AL	1.0–2.0	1.0–2.0	894	$1,070	$1.20	20d	1	1.12mi
3565 Lorna Rd Hoover, AL	1.0–3.0	1.0–1.5	975	$938	$0.96	44d	1	1.15mi
2135 Centennial Dr Birmingham, AL	3.0	1.0–2.0	955	$1,066	$1.12	2d	21	1.22mi
2071 Alpine Vlg Birmingham, AL	1.0–3.0	1.0–2.0	1000	$1,010	$1.01	3d	9	1.30mi
3400 Treeline Ct Hoover, AL	1.0–3.0	1.0–2.0	950	$1,140	$1.20	22d	13	1.35mi
3299 Warringwood Dr Hoover, AL	2.0	1.5	960	$1,150	$1.20	22d	1	1.37mi
200 River Haven Ln Hoover, AL	1.0–3.0	1.5–2.5	1485	$1,470	$0.99	2d	32	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: gaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $141,000 Active 37 DOM
2. 2026-06-17
   days on market $141,000 Active 36 DOM
3. 2026-06-16
   days on market $141,000 Active 35 DOM
4. 2026-06-15
   days on market $141,000 Active 34 DOM
5. 2026-06-13
   days on market $141,000 Active 32 DOM
6. 2026-06-10
   days on market $141,000 Active 29 DOM
7. 2026-06-09
   days on market $141,000 Active 28 DOM
8. 2026-06-08
   days on market $141,000 Active 27 DOM
9. 2026-06-07
   days on market $141,000 Active 26 DOM
10. 2026-06-03
    days on market $141,000 Active 22 DOM
11. 2026-06-02
    days on market $141,000 Active 21 DOM
12. 2026-06-01
    days on market $141,000 Active 20 DOM
13. 2026-05-31
    days on market $141,000 Active 19 DOM
14. 2026-05-12
    listed $141,000 Active 1156-char remark
15. 2022-02-01
    soldstatus $115,000
16. 2022-01-20
    soldstatus $115,000 Sold 949-char remark

    Show marketing remark (949 chars)

    OPPORTUNITY awaits you on this beautiful renovated 2 br/2ba one level unit with unfinished 2 car garage . Huge storage space in basement to store your motorcycle , 4 wheelers etc or turn into your own personal flex space ( office or mancave ) New front door and storm door. New insulated garage doors w wireless remote . Spacious guest parking . Main level interior recently painted with addition of high end lighting. New hvac and furnace . Great room with new unique refaced f/pl and mantel with remote control gas logs . New French doors leading out to a private fenced backyard. This awesome great room adjoins a open dining room area just perfect for entertaining. Updated kitchen with white painted cabinetry /hardware and some new appliances . Breakfast bar . Beautiful new renovated guest bathroom . Walking distances from the community pool, clubhouse and tennis courts . The Windhover community is a very desirable convenient neighborhood.

17. 2022-01-14
    price $1,000
18. 2022-01-12
    historical Contingent 949-char remark

    Show marketing remark (949 chars)

    OPPORTUNITY awaits you on this beautiful renovated 2 br/2ba one level unit with unfinished 2 car garage . Huge storage space in basement to store your motorcycle , 4 wheelers etc or turn into your own personal flex space ( office or mancave ) New front door and storm door. New insulated garage doors w wireless remote . Spacious guest parking . Main level interior recently painted with addition of high end lighting. New hvac and furnace . Great room with new unique refaced f/pl and mantel with remote control gas logs . New French doors leading out to a private fenced backyard. This awesome great room adjoins a open dining room area just perfect for entertaining. Updated kitchen with white painted cabinetry /hardware and some new appliances . Breakfast bar . Beautiful new renovated guest bathroom . Walking distances from the community pool, clubhouse and tennis courts . The Windhover community is a very desirable convenient neighborhood.

19. 2021-12-23
    listed $134,900 Active 949-char remark

    Show marketing remark (949 chars)

    OPPORTUNITY awaits you on this beautiful renovated 2 br/2ba one level unit with unfinished 2 car garage . Huge storage space in basement to store your motorcycle , 4 wheelers etc or turn into your own personal flex space ( office or mancave ) New front door and storm door. New insulated garage doors w wireless remote . Spacious guest parking . Main level interior recently painted with addition of high end lighting. New hvac and furnace . Great room with new unique refaced f/pl and mantel with remote control gas logs . New French doors leading out to a private fenced backyard. This awesome great room adjoins a open dining room area just perfect for entertaining. Updated kitchen with white painted cabinetry /hardware and some new appliances . Breakfast bar . Beautiful new renovated guest bathroom . Walking distances from the community pool, clubhouse and tennis courts . The Windhover community is a very desirable convenient neighborhood.

20. 2021-09-26
    price $134,900
21. 2021-08-27
    price $145,000
22. 2017-02-06
    soldstatus $80,000
23. 2017-01-30
    soldstatus $80,000 Sold
24. 2017-01-26
    historical
25. 2017-01-10
    historical Contingent
26. 2016-10-25
    listed $79,900 Active
27. 2003-04-29
    soldstatus $83,100
28. 1999-07-13
    soldstatus $75,000
29. 1999-03-03
    soldstatus $75,000
30. 1980-06-01
    soldstatus $57,100

ⓘ 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: $1,241 · $103/mo
• Projected year-2 tax: $1,241 · $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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°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 6 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,339
• − Mortgage interest: −$7,898
• − Property taxes: −$1,241
• − Insurance: −$705
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − HOA: −$5,760
• − Depreciation: −$4,102
• Taxable loss: −$5,982
• Est. tax savings @ 24.0%: +$1,436
• After-tax cash flow: $-2,236/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 — Hoover

• Score: 84/100
• State rank: #1
• US rank: #630

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Jefferson County · 527,445 people
• City population: 76,805
• Metro: Birmingham-Hoover, AL
• Population (ZIP): 34,327
• Household income: $74,525
• Rent vs Own: 44.4% rent · 55.6% own
• Severe rent burden: 1747.0

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 0.56)
• Race & ethnicity: White 61% Black 24% Hispanic / Latino 8% Asian 5% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Arabic 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: ▼ -259.83%
• Current HPI: 239.8705
• Rent YoY: ▲ 2.59%
• 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

+146.9% since first listed

17 events — show timeline

• 2026-05-12 Listed $141,000 FSBO.com
• 2022-02-01 Sold (Public Records) $115,000 Public Records
• 2022-01-20 Sold (MLS) $115,000 Greater Alabama MLS
• 2022-01-14 Price Changed $1,000 RENT.
• 2022-01-12 Contingent — Greater Alabama MLS
• 2021-12-23 Listed $134,900 Greater Alabama MLS
• 2021-09-26 Price Changed $134,900 Greater Alabama MLS
• 2021-08-27 Price Changed $145,000 Greater Alabama MLS
• 2017-02-06 Sold (Public Records) $80,000 Public Records
• 2017-01-30 Sold (MLS) $80,000 Greater Alabama MLS
• 2017-01-26 Delisted — Greater Alabama MLS
• 2017-01-10 Contingent — Greater Alabama MLS
• 2016-10-25 Listed $79,900 Greater Alabama MLS
• 2003-04-29 Sold (Public Records) $83,100 Public Records
• 1999-07-13 Sold (Public Records) $75,000 Public Records
• 1999-03-03 Sold (Public Records) $75,000 Public Records
• 1980-06-01 Sold (Public Records) $57,100 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,241 · +0.0% YoY. Source: county tax records.