808 45th Pl N · Birmingham, AL 35212

$68,500

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 40 Days on market

Built 1954 5,662 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Turn key property. Great starter home or investment opportunity (Originally rented for $700 per month) New Bathroom, New windows throughout, New Kitchen cabinets and flooring and New Doors. New Flooring (original hardwood under laminate) except for bedrooms original hardwood. Roof 10-12 years. (No hvac -no air -no heat ). No appliances, freshly printed through out, plumbing is all new. All new light fixtures, huge basement, hot water heater less than 6 months old. Spacious fenced yard. Move-in ready

Key facts

• 5,662 sq ft lot
• Parking
• Built 1954

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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-, crime F, employment 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.
• Zoned schools: Hayes K8 (math 0% / reading 12%, grade F, #616 of 627 statewide, top 98%, 658 students, 91% FRL); Woodlawn High Schoolmagnet (math 2% / reading 2%, grade F, #291 of 305 statewide, top 100%, 738 students, 91% FRL).
• Market conditions: 81 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $474 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 $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 $50k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $66,445 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 12.02%
• Cash-on-cash: 20.44%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $35,700
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4513 13th Ave	0.60mi	2/1.0	778 (+11%)	3mo	$40,000	$51	51

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: 12.7%
• Equity multiple: 1.51×
• Total profit: $9,703
• Equity at exit: $10,214

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $35,233
• Equity at exit: $5,923

Cash invested: $19,180 (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: 81
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $980 high
• Mortgage (P&I): −$359
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $327

Break-even live

Break-even rent $567

Max offer price $68,500

Occupancy floor 62%

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
737 47th St N Unit B Birmingham, AL	2.0	1.0	706	$750	$1.06	23d	1	0.22mi
1217 43rd St N Birmingham, AL	2.0	1.0	750	$850	$1.13	44d	1	0.49mi
4420 5th Ave S Birmingham, AL	2.0	1.0	667	$1,126	$1.69	14d	2	0.87mi
4416 5th Ave S Unit 4420-8 Birmingham, AL	2.0	1.0	667	$1,032	$1.55	21d	1	0.87mi
4416 5th Ave S Unit 4420-5 Birmingham, AL	2.0	1.0	667	$1,062	$1.59	10d	1	0.87mi
4262 4th Ave S Birmingham, AL	1.0	1.0	676	$1,095	$1.62	44d	1	0.88mi
4332 5th Ave S Unit 201 Birmingham, AL	2.0	1.0	691	$754	$1.09	10d	1	0.90mi
4332 5th Ave S Apt 106 Birmingham, AL	2.0	1.0	691	$1,069	$1.55	44d	1	0.90mi
4264 4th Ave S Birmingham, AL	1.0	1.0	676	$1,095	$1.62	44d	1	0.91mi
4233 3rd Ave S Birmingham, AL	2.0	1.0	750	$1,150	$1.53	44d	1	0.92mi
4237 5th Ave S Unit 4241-F Birmingham, AL	2.0	1.0	725	$1,098	$1.51	44d	1	1.03mi
4237 5th Ave S Unit 4241-H Birmingham, AL	2.0	1.0	725	$1,115	$1.54	44d	1	1.03mi
4237 5th Ave S Unit 4237-E Birmingham, AL	2.0	1.0	725	$1,135	$1.57	3d	1	1.03mi
3824 5th Ave S Unit G01C Birmingham, AL	1.0	1.0	623	$845	$1.36	44d	1	1.24mi
3824 5th Ave S Unit 203B Birmingham, AL	1.0	1.0	623	$830	$1.33	44d	1	1.24mi
3833 6th Ave S Birmingham, AL	2.0	1.0	725	$1,100	$1.52	44d	1	1.31mi
3827 6th Ave S Birmingham, AL	2.0	1.0	725	$1,100	$1.52	44d	1	1.33mi
3815 6th Ave S Birmingham, AL	1.0	1.0	575	$950	$1.65	44d	1	1.35mi
609 38th St S Birmingham, AL	1.0	1.0	560	$900	$1.61	44d	1	1.37mi

Listing history 10 events

1. 2025-09-08
   status Pending
2. 2025-08-26
   status Active
3. 2025-08-12
   historical Contingent
4. 2025-07-30
   listed $68,500 Active
5. 2022-06-01
   soldstatus $50,000
6. 2022-05-24
   soldstatus $50,000 Sold 504-char remark

   Show marketing remark (504 chars)

   Turn key property. Great starter home or investment opportunity (Originally rented for $700 per month) New Bathroom, New windows throughout, New Kitchen cabinets and flooring and New Doors. New Flooring (original hardwood under laminate) except for bedrooms original hardwood. Roof 10-12 years. (No hvac -no air -no heat ). No appliances, freshly printed through out, plumbing is all new. All new light fixtures, huge basement, hot water heater less than 6 months old. Spacious fenced yard. Move-in ready

7. 2022-05-19
   status Pending 504-char remark

   Show marketing remark (504 chars)

   Turn key property. Great starter home or investment opportunity (Originally rented for $700 per month) New Bathroom, New windows throughout, New Kitchen cabinets and flooring and New Doors. New Flooring (original hardwood under laminate) except for bedrooms original hardwood. Roof 10-12 years. (No hvac -no air -no heat ). No appliances, freshly printed through out, plumbing is all new. All new light fixtures, huge basement, hot water heater less than 6 months old. Spacious fenced yard. Move-in ready

8. 2022-05-09
   listed $54,900 Active 504-char remark

   Show marketing remark (504 chars)

   Turn key property. Great starter home or investment opportunity (Originally rented for $700 per month) New Bathroom, New windows throughout, New Kitchen cabinets and flooring and New Doors. New Flooring (original hardwood under laminate) except for bedrooms original hardwood. Roof 10-12 years. (No hvac -no air -no heat ). No appliances, freshly printed through out, plumbing is all new. All new light fixtures, huge basement, hot water heater less than 6 months old. Spacious fenced yard. Move-in ready

9. 2022-02-23
   price $65,000
10. 2007-06-13
    soldstatus $7,000

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $721 · $60/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 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: $11,764
• − Mortgage interest: −$3,837
• − Property taxes: −$721
• − Insurance: −$342
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$1,993
• Taxable income: $2,989
• Est. tax owed @ 24.0%: −$717
• After-tax cash flow: $3,202/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

+878.6% since first listed

10 events — show timeline

• 2025-09-08 Pending — Greater Alabama MLS
• 2025-08-26 Relisted — Greater Alabama MLS
• 2025-08-12 Contingent — Greater Alabama MLS
• 2025-07-30 Listed $68,500 Greater Alabama MLS
• 2022-06-01 Sold (Public Records) $50,000 Public Records
• 2022-05-24 Sold (MLS) $50,000 Greater Alabama MLS
• 2022-05-19 Pending — Greater Alabama MLS
• 2022-05-09 Listed $54,900 Greater Alabama MLS
• 2022-02-23 Price Changed $65,000 Greater Alabama MLS
• 2007-06-13 Sold (Public Records) $7,000 Public Records

Property tax history

+2.3%/yr

Latest (2025): $721 · +0.0% YoY. Source: county tax records.