1014 3rd St · Birmingham, AL 35214

$89,900

3 bd · 1.0 ba · 1,254 sqft · SingleFamily public records · 221 Days on market

Built 1955 3,484 sqft lot $72/sqft · 35% above area Est $67k · 35% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

Key facts

• New flooring
• Newer water heater
• Fresh interior paint

Tags

• NEW FLOORING
• FRESH INTERIOR PAINT
• NEWER WATER HEATER
• NEWER HVAC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 flat; 116 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $622 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.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 221 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $90k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 221 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 1955 — 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: 1.36% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.96%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

• ARV (median comp): $66,654
• List price: $89,900
• Delta: 34.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1605 Morning Glory Dr	0.34mi	3/2.5	1,295 (+3%)	2mo	$230,000	$178	71
1609 Morning Glory Dr	0.35mi	3/2.5	1,295 (+3%)	2mo	$230,000	$178	70
132 Avenue Y	0.18mi	2/2.0 (-1)	1,254 (0%)	15mo	$90,000	$72	70
1704 Poinsettia Dr	0.42mi	4/2.0 (+1)	1,229 (-2%)	1mo	$220,000	$179	68
924 6th Way	0.57mi	3/1.0	1,192 (-5%)	14mo	$72,000	$60	54
800 7th St	0.69mi	3/1.0	1,250 (-0%)	16mo	$76,000	$61	54
1425 Hibernian St	0.59mi	3/1.0	1,152 (-8%)	6mo	$38,000	$33	54
1400 Hibernian St	0.58mi	3/2.0	1,224 (-2%)	14mo	$150,000	$123	54
1005 6th Pl	0.53mi	3/2.0	1,121 (-11%)	1mo	$149,900	$134	53
1213 Lafayette St	0.64mi	3/1.0	1,344 (+7%)	11mo	$83,000	$62	49
408 Miles Ave	0.55mi	3/1.0	1,377 (+10%)	13mo	$62,500	$45	48
944 Lafayette St	0.64mi	3/1.0	1,152 (-8%)	14mo	$75,000	$65	45

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 · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 8.3%
• Equity multiple: 1.32×
• Total profit: $8,031
• Equity at exit: $13,404

10-year hold

• IRR: 15.7%
• Equity multiple: 2.15×
• Total profit: $28,878
• Equity at exit: $7,773

Cash invested: $25,172 (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 35214

• Home prices YoY: -20.0%
• Rents YoY: 0.7%
• Active inventory: 116
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,226 high
• Mortgage (P&I): −$471
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $398

Break-even live

Break-even rent $722

Max offer price $89,900

Occupancy floor 63%

Sensitivity live

Price	-10% $449	-5% $423	+0% $398	+5% $372	+10% $347
Rent	-10% $301	-5% $349	+0% $398	+5% $446	+10% $495
Rate	-1.0pp $443	-0.5pp $421	base $398	+0.5pp $375	+1.0pp $351

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
315 Avenue U Birmingham, AL	3.0	1.0	1088	$1,200	$1.10	4d	1	0.14mi
1208 2nd St Birmingham, AL	3.0	2.0	1506	$1,050	$0.70	45d	1	0.16mi
213 Beech Ave Birmingham, AL	3.0	1.0	1288	$1,000	$0.78	20d	1	0.47mi
604 5th Way Birmingham, AL	2.0	2.0	1513	$1,000	$0.66	45d	1	0.51mi
408 Miles Ave Birmingham, AL	3.0	2.0	1377	$1,050	$0.76	23d	1	0.52mi
1425 Hibernian St Birmingham, AL	3.0	1.0	1152	$1,200	$1.04	25d	1	0.56mi
609 Cherry Ave Birmingham, AL	3.0	1.5	1104	$1,495	$1.35	25d	1	0.74mi
225 Bayberry Rd Birmingham, AL	3.0	1.0	1496	$1,261	$0.84	20d	1	0.75mi
204 5th Way Birmingham, AL	3.0	1.5	1051	$1,100	$1.05	23d	1	0.77mi
528 Lamplighter Ln Birmingham, AL	3.0	1.0	1114	$1,220	$1.10	5d	1	0.82mi
1739 Huntington Dr Birmingham, AL	3.0	2.0	1008	$1,150	$1.14	4d	1	1.10mi
1174 16th Avenue Thomas Birmingham, AL	2.0	1.0	1000	$750	$0.75	45d	1	1.21mi
436 Henry St Birmingham, AL	3.0	2.0	1159	$1,090	$0.94	45d	1	1.28mi
629 Lanett Ave Birmingham, AL	3.0	1.0	1092	$1,200	$1.10	45d	1	1.34mi
1402 Avenue E Birmingham, AL	3.0	3.0	1519	$1,273	$0.84	17d	1	1.44mi
2523 16th street Ensley Unit ENSLEY Birmingham, AL	4.0	2.0	1584	$1,300	$0.82	45d	1	1.45mi
1306 Avenue R Unit R Birmingham, AL	3.0	1.0	980	$950	$0.97	45d	1	1.46mi
1306 Avenue R Unit R Birmingham, AL	3.0	1.0	980	$950	$0.97	5d	1	1.46mi
120 Dewberry Ln Birmingham, AL	3.0	2.0	1485	$1,510	$1.02	20d	1	1.47mi

Listing history 34 events

1. 2026-06-21
   days on market $89,900 Active 221 DOM
2. 2026-06-18
   days on market $89,900 Active 218 DOM
3. 2026-06-17
   days on market $89,900 Active 217 DOM
4. 2026-06-16
   days on market $89,900 Active 216 DOM
5. 2026-06-15
   days on market $89,900 Active 215 DOM
6. 2026-06-13
   days on market $89,900 Active 213 DOM
7. 2026-06-10
   days on market $89,900 Active 210 DOM
8. 2026-06-09
   days on market $89,900 Active 209 DOM
9. 2026-06-08
   days on market $89,900 Active 208 DOM
10. 2026-06-07
    days on market $89,900 Active 207 DOM
11. 2026-06-03
    statusdays on market $89,900 Active 203 DOM
12. 2026-06-02
    days on market $89,900 Contingent 202 DOM
13. 2026-06-01
    days on market $89,900 Contingent 201 DOM
14. 2026-05-31
    days on market $89,900 Contingent 200 DOM
15. 2026-05-11
    historical Contingent 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

16. 2026-04-14
    status Active 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

17. 2026-03-12
    status Pending 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

18. 2026-02-11
    status Active 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

19. 2026-01-29
    historical Active-Break Clause 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

20. 2025-12-13
    price $89,900 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

21. 2025-10-10
    listed $100,000 Active 328-char remark

    Show marketing remark (328 chars)

    INVESTOR ALERT! Add 1014 3rd St Pratt to your rental portfolio. Tenant-occupied with a reliable Section 8 tenant paying $1400/month. This home features new flooring throughout, fresh interior paint, a newer water heater (2021), and HVAC (2019). Low-maintenance and income-producing—don’t miss this great opportunity!

22. 2025-07-04
    price $100,000
23. 2024-09-16
    soldstatus $50,000
24. 2024-09-12
    soldstatus $50,000 Sold
25. 2024-08-14
    status Pending
26. 2024-08-05
    status Active
27. 2024-08-01
    historical
28. 2024-06-28
    price $50,000
29. 2024-05-02
    status Active
30. 2024-04-18
    historical Contingent
31. 2024-04-03
    status Active
32. 2024-02-22
    historical Contingent
33. 2024-02-15
    listed $70,000 Active
34. 2021-12-24
    price $52,500

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $740 · $62/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 4/10 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 4/10 Moderate 5 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,709
• − Mortgage interest: −$5,036
• − Property taxes: −$740
• − Insurance: −$450
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$2,615
• Taxable income: $3,516
• Est. tax owed @ 24.0%: −$844
• After-tax cash flow: $3,930/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): 17,027
• Household income: $56,383
• Rent vs Own: 35.4% rent · 64.6% own
• Severe rent burden: 578.0

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 (77%)
• Race & ethnicity: Black 77% White 18% Two or more races 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▼ -54.48%
• Current HPI: 218.5233
• Rent YoY: ▲ 0.74%
• 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

+71.2% since first listed

20 events — show timeline

• 2026-05-11 Contingent — Greater Alabama MLS
• 2026-04-14 Relisted — Greater Alabama MLS
• 2026-03-12 Pending — Greater Alabama MLS
• 2026-02-11 Relisted — Greater Alabama MLS
• 2026-01-29 Contingent — Greater Alabama MLS
• 2025-12-13 Price Changed $89,900 Greater Alabama MLS
• 2025-10-10 Listed $100,000 Greater Alabama MLS
• 2025-07-04 Price Changed $100,000 Greater Alabama MLS
• 2024-09-16 Sold (Public Records) $50,000 Public Records
• 2024-09-12 Sold (MLS) $50,000 Greater Alabama MLS
• 2024-08-14 Pending — Greater Alabama MLS
• 2024-08-05 Relisted — Greater Alabama MLS
• 2024-08-01 Delisted — Greater Alabama MLS
• 2024-06-28 Price Changed $50,000 Greater Alabama MLS
• 2024-05-02 Relisted — Greater Alabama MLS
• 2024-04-18 Contingent — Greater Alabama MLS
• 2024-04-03 Relisted — Greater Alabama MLS
• 2024-02-22 Contingent — Greater Alabama MLS
• 2024-02-15 Listed $70,000 Greater Alabama MLS
• 2021-12-24 Price Changed $52,500 Greater Alabama MLS

Property tax history

+4.7%/yr

Latest (2025): $740 · +14.4% YoY. Source: county tax records.