1315 46th Way N · Birmingham, AL 35212

$79,900

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 277 Days on market

Built 1966 6,534 sqft lot $74/sqft · 67% above area

---

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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

Key facts

• 6,534 sq ft lot
• Built 1966
• Listed 277 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: 79 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,114 units permitted in Jefferson County in 2024 (556 in 5+ unit buildings).
• This rent runs 39% of the median local income ($37k/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 $552 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 277 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask is 7164% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $65k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 277 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 1966 — 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: 1.49% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.13%
• DSCR: 1.98
• GRM: 5.6

CMA / ARV

• ARV (median comp): $47,844
• List price: $79,900
• Delta: 67.00%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1401 46th Street Ensley	0.15mi	3/1.0	1,089 (+1%)	13mo	$48,356	$44	81
912 48th St N	0.51mi	3/1.0	1,073 (-1%)	6mo	$55,000	$51	70
1212 43rd St N	0.47mi	3/1.0	1,018 (-6%)	6mo	$12,000	$12	63
990 52nd Way N	0.56mi	3/2.0	1,113 (+3%)	3mo	$35,000	$31	62
4750 9th Street Ter N	0.30mi	3/1.0	1,000 (-7%)	18mo	$27,000	$27	59
904 46th St	0.50mi	3/1.0	1,130 (+5%)	13mo	$80,000	$71	58
934 47th St N	0.41mi	2/1.0 (-1)	972 (-10%)	7mo	$39,000	$40	54
916 N 47th St	0.46mi	3/2.0	1,038 (-4%)	19mo	$75,000	$72	52
749 45th Pl N	0.73mi	3/1.0	1,036 (-4%)	9mo	$75,000	$72	52
833 49th St N	0.59mi	3/2.0	1,231 (+14%)	1mo	$200,000	$162	44
208 52nd Pl N	0.75mi	2/1.0 (-1)	926 (-14%)	3mo	$62,500	$67	34

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: 14.9%
• Equity multiple: 1.60×
• Total profit: $13,332
• Equity at exit: $11,913

10-year hold

• IRR: 23.6%
• Equity multiple: 3.03×
• Total profit: $45,460
• Equity at exit: $6,908

Cash invested: $22,372 (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 35212

• Active inventory: 79
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,192 high
• Mortgage (P&I): −$419
• Tax from tax record: −$77 /mo · $925/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $413

Break-even live

Break-even rent $670

Max offer price $79,900

Occupancy floor 60%

Sensitivity live

Price	-10% $458	-5% $435	+0% $413	+5% $390	+10% $367
Rent	-10% $318	-5% $365	+0% $413	+5% $460	+10% $507
Rate	-1.0pp $453	-0.5pp $433	base $413	+0.5pp $392	+1.0pp $371

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 48th St N Birmingham, AL	3.0	1.0	1313	$1,200	$0.91	24d	1	0.16mi
1101 47th St N Birmingham, AL	3.0	2.0	1296	$1,200	$0.93	24d	1	0.16mi
4513 13th Ave N Birmingham, AL	2.0	2.0	778	$1,175	$1.51	24d	1	0.20mi
934 47th St N Birmingham, AL	3.0	1.0	972	$1,000	$1.03	24d	1	0.41mi
941 47th Pl N Birmingham, AL	3.0	1.0	879	$950	$1.08	24d	1	0.41mi
1217 43rd St N Birmingham, AL	2.0	1.0	750	$850	$1.13	44d	1	0.45mi
1705 52nd St N Birmingham, AL	3.0	1.5	1214	$1,100	$0.91	44d	1	0.55mi
1117 42nd Pl N Birmingham, AL	3.0	1.0	1026	$900	$0.88	44d	1	0.57mi
737 47th St N Unit B Birmingham, AL	2.0	1.0	706	$750	$1.06	24d	1	0.61mi
972 53rd St N Birmingham, AL	2.0	1.0	841	$900	$1.07	44d	1	0.61mi
821 50th St N Birmingham, AL	3.0	1.5	1416	$1,523	$1.08	2d	1	0.64mi
236 48th St N Birmingham, AL	3.0	2.0	1318	$1,750	$1.33	4d	1	0.66mi
233 52nd St N Birmingham, AL	2.0	1.0	1430	$1,200	$0.84	44d	1	0.70mi
813 42nd Pl N Birmingham, AL	3.0	2.0	1424	$1,285	$0.90	44d	1	0.78mi
1017 Cahaba St Birmingham, AL	2.0	2.0	1035	$1,350	$1.30	4d	1	0.88mi
5811 2nd Ave N Birmingham, AL	2.0	1.0	1000	$1,200	$1.20	4d	1	0.92mi
137 59th St N Unit 3 Birmingham, AL	2.0	1.0	800	$725	$0.91	24d	1	0.98mi
137 59th St N Apt 6 Birmingham, AL	2.0	1.0	800	$725	$0.91	44d	1	0.98mi
3920 11th Ave N Birmingham, AL	3.0	2.0	1200	$1,025	$0.85	3d	1	0.98mi
4236 39th Ave N Birmingham, AL	3.0	2.0	1000	$1,195	$1.20	24d	1	1.00mi
4231 40th Ave N Birmingham, AL	3.0	1.0	1272	$850	$0.67	20d	1	1.04mi
4108 7th Ave N Birmingham, AL	3.0	1.0	1100	$1,350	$1.23	24d	1	1.08mi
4317 41st Ave N Birmingham, AL	3.0	1.0	864	$1,000	$1.16	44d	1	1.12mi
4220 40th Ct N Birmingham, AL	3.0	1.0	948	$1,200	$1.27	44d	1	1.13mi
4028 40th Ave N Birmingham, AL	3.0	1.0	1186	$950	$0.80	44d	1	1.21mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	15d	1	1.23mi
4400 43rd St N Birmingham, AL	3.0	1.0	1152	$850	$0.74	44d	1	1.23mi
620 52nd St S Birmingham, AL	3.0	2.0	1346	$2,750	$2.04	24d	1	1.25mi
4217 43rd Ave N Birmingham, AL	3.0	1.0	1140	$1,200	$1.05	4d	1	1.26mi
4345 2nd Ave S Birmingham, AL	3.0	2.0	988	$1,800	$1.82	24d	1	1.36mi
126 66th Pl N Birmingham, AL	2.0	1.0	1038	$1,200	$1.16	15d	1	1.45mi
6309 3rd Ave S Birmingham, AL	4.0	2.0	1228	$1,495	$1.22	2d	1	1.46mi

Listing history 34 events

1. 2026-06-21
   days on market $79,900 Active 277 DOM
2. 2026-06-18
   days on market $79,900 Active 274 DOM
3. 2026-06-17
   days on market $79,900 Active 273 DOM
4. 2026-06-16
   days on market $79,900 Active 272 DOM
5. 2026-06-15
   days on market $79,900 Active 271 DOM
6. 2026-06-13
   days on market $79,900 Active 269 DOM
7. 2026-06-10
   days on market $79,900 Active 266 DOM
8. 2026-06-09
   days on market $79,900 Active 265 DOM
9. 2026-06-08
   days on market $79,900 Active 264 DOM
10. 2026-06-07
    days on market $79,900 Active 263 DOM
11. 2026-06-03
    days on market $79,900 Active 259 DOM
12. 2026-06-02
    days on market $79,900 Active 258 DOM
13. 2026-06-01
    days on market $79,900 Active 257 DOM
14. 2026-05-31
    days on market $79,900 Active 256 DOM
15. 2026-04-16
    historical $1,100
16. 2026-04-09
    listed $1,100
17. 2026-03-03
    price $79,900 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

18. 2026-03-03
    status Active 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

19. 2026-01-01
    historical 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

20. 2025-11-04
    price $84,900 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

21. 2025-09-04
    price $89,900 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

22. 2025-07-18
    listed $95,900 Active 264-char remark

    Show marketing remark (264 chars)

    Charming 3 bedroom, 1 bath rental property located in the heart of historic Woodlawn. This well-maintained home offers classic character and solid rental income potential — a great opportunity for investors looking to grow their portfolio in a thriving area.

23. 2022-04-18
    soldstatus $65,000
24. 2022-04-14
    soldstatus $65,000 Sold 756-char remark

    Show marketing remark (756 chars)

    OWN this 3 bedroom, 1 bathroom cottage for a fraction of the price to rent. As you walk into this home you’re greeted by a nice living room. You have an updated bathroom and an eat-in kitchen with newer appliances. This home has two nice sized bedrooms, and one large multi-functional room that could be a huge bedroom or a large family room. There is also plenty of flat yard for outdoor entertainment and kids to play. INVESTORS- Jump on this chance to acquire a home located within one of the city’s Opportunity Zones. This property has recently leased for around $700/month and is ready to cash flow with the next tenant. It is located 5 minutes away from the airport and only 10 minutes from downtown. Call and schedule your showing today!

25. 2022-03-14
    price $695
26. 2022-03-13
    historical Contingent 756-char remark

    Show marketing remark (756 chars)

    OWN this 3 bedroom, 1 bathroom cottage for a fraction of the price to rent. As you walk into this home you’re greeted by a nice living room. You have an updated bathroom and an eat-in kitchen with newer appliances. This home has two nice sized bedrooms, and one large multi-functional room that could be a huge bedroom or a large family room. There is also plenty of flat yard for outdoor entertainment and kids to play. INVESTORS- Jump on this chance to acquire a home located within one of the city’s Opportunity Zones. This property has recently leased for around $700/month and is ready to cash flow with the next tenant. It is located 5 minutes away from the airport and only 10 minutes from downtown. Call and schedule your showing today!

27. 2022-03-10
    listed $65,000 Active 756-char remark

    Show marketing remark (756 chars)

    OWN this 3 bedroom, 1 bathroom cottage for a fraction of the price to rent. As you walk into this home you’re greeted by a nice living room. You have an updated bathroom and an eat-in kitchen with newer appliances. This home has two nice sized bedrooms, and one large multi-functional room that could be a huge bedroom or a large family room. There is also plenty of flat yard for outdoor entertainment and kids to play. INVESTORS- Jump on this chance to acquire a home located within one of the city’s Opportunity Zones. This property has recently leased for around $700/month and is ready to cash flow with the next tenant. It is located 5 minutes away from the airport and only 10 minutes from downtown. Call and schedule your showing today!

28. 2019-12-10
    soldstatus $30,000
29. 2019-11-27
    soldstatus $30,000 Sold
30. 2019-11-07
    historical Contingent
31. 2019-09-16
    listed $32,900 Active
32. 2018-04-19
    price $29,900
33. 2017-07-25
    price $37,500
34. 1971-07-30
    soldstatus $10,100

ⓘ 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: $925 · $77/mo
• Projected year-2 tax: $925 · $77/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 5/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,308
• − Mortgage interest: −$4,476
• − Property taxes: −$925
• − Insurance: −$400
• − Repairs & maintenance: −$1,145
• − Management: −$1,145
• − Depreciation: −$2,324
• Taxable income: $3,894
• Est. tax owed @ 24.0%: −$935
• After-tax cash flow: $4,016/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): 10,160
• Household income: $36,633
• Rent vs Own: 55.4% rent · 44.6% own
• Severe rent burden: 798.0

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 (68%)
• Race & ethnicity: Black 68% White 24% Hispanic / Latino 6% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 2% Slovak 2% Hispanic 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 3% French/Haitian/Cajun 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: ▼ -190.24%
• Current HPI: 120.1264
• Rent YoY: —
• 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

-89.1% since first listed

20 events — show timeline

• 2026-04-16 Rental Removed $1,100 TENANTTURNER2
• 2026-04-09 Listed for Rent $1,100 TENANTTURNER2
• 2026-03-03 Price Changed $79,900 Greater Alabama MLS
• 2026-03-03 Relisted — Greater Alabama MLS
• 2026-01-01 Delisted — Greater Alabama MLS
• 2025-11-04 Price Changed $84,900 Greater Alabama MLS
• 2025-09-04 Price Changed $89,900 Greater Alabama MLS
• 2025-07-18 Listed $95,900 Greater Alabama MLS
• 2022-04-18 Sold (Public Records) $65,000 Public Records
• 2022-04-14 Sold (MLS) $65,000 Greater Alabama MLS
• 2022-03-14 Price Changed $695 RENT.
• 2022-03-13 Contingent — Greater Alabama MLS
• 2022-03-10 Listed $65,000 Greater Alabama MLS
• 2019-12-10 Sold (Public Records) $30,000 Public Records
• 2019-11-27 Sold (MLS) $30,000 Greater Alabama MLS
• 2019-11-07 Contingent — Greater Alabama MLS
• 2019-09-16 Listed $32,900 Greater Alabama MLS
• 2018-04-19 Price Changed $29,900 Greater Alabama MLS
• 2017-07-25 Price Changed $37,500 Greater Alabama MLS
• 1971-07-30 Sold (Public Records) $10,100 Public Records

Property tax history

+3.1%/yr

Latest (2025): $925 · +0.0% YoY. Source: county tax records.